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85- 803008
<br />To HAYS A..tD To Iho.D the some unto the Mortgagee, as herein provided. Mortgagor represents to,
<br />covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises;
<br />t dwy are'firoe from encumbrance, except as herein otherwise recited; that the Mortgagor will warrant
<br />defer the same aph(attt the Inwful elaims ofsll persons whomsoever. Mortgs or hereby relinquishieg
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<br />ofllboiseites4l alCmaritil'mitts, either in law or in equity. and all other contingent interests of
<br />lfortplgor itd and fade above-described premises
<br />Pttovum ALWAYS, and these presents are executed and delivered upon the following conditions,
<br />to wit
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from
<br />date at the rate of Eleven and One Half per centum ( 11 ! %) per annum on the unpaid balance
<br />until paid. The said principal and interest shall be payable at the office of the Loan Guaranty Officer,
<br />Veterans Administration Regional Office, Lincoln, Nebraska, or at such other place as the holder of the
<br />note may designate in writing delivered or mailed to the Mortgagor, in monthly installments of
<br />Four Hundred Forty 'Five and 64/100 Dollars ($ 445.64 ), commencingon the First
<br />day of October , 19 85 , and continuing on the First
<br />day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final pay-
<br />ment of principal and interest shall be due and payable on the First day of September
<br />2015 ; all according to the terms of a certain promissory note of even date herewith executed by the
<br />said Mortgagor.
<br />The Mortgagor further agrees:
<br />I. He will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />tame, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one
<br />installment, or one hundred dollars ($100.00), whichever is less. Prepayment in full shall be credited on
<br />the date. received. Partial prepayment, other than on an installment due date, need not be credited until
<br />the next following installment due date or thirty days after such prepayment, whichever is earlier.
<br />2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br />the terms of the note secured hereby. Mortgagor will pay to Mortgagee, as trustee (under the terms of
<br />this trust as hereinafter stated) on the installment due date of each month until said note is fully paid:
<br />(a) A sum equal to the ground rents, if any, tic xt due, plus the premiums that will next become due
<br />and payable on policies of tare and other hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next due on the mortgaged property t all as estimated by the Mort -
<br />gagee, and of x•hich the Mortgagor is nt>tificd) less all sums already paid therefor divided by
<br />the number of months to elapse beforrr one month prior to the date whop such ground rents,
<br />premiums, taxes and assessments will becorr_,, delinquent, such sums to lx- held by Mortgagee
<br />in trust to pay said ground rents• premiums, taxes and stweial assessments.
<br />(b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the
<br />note secured hereby, shall be paid in a single payment each month, to be applied to the follow-
<br />ing items in the order stated:
<br />(t) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(11) interest on the note secured hereby; and
<br />(111) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good
<br />by the Mortgagor prior to the due date of the next such payment, constitute an event of default
<br />under this mortgage. At Mortgagee's option, Mortgagor will pay a "late charge" riot exceed-
<br />four per centum (45i•) of any installment when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra expense involved in handling delinquent payments, but such
<br />"late charge" shall not. be payable out of the proceeds of any sale made to satisfy the indebted-
<br />ness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br />all proper costs and expenses secured hemby.
<br />3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall
<br />exceed the amount of payments actually made by the Mortgagee as trustee for ground rents, taxes and
<br />assessments orinsurance ptemiums,as the case may be, such excess shall be creditedby the Mortgagee
<br />on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, shell be
<br />refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay sueIt items
<br />when ttw some shall become due and payable, then the Mortgagor shall pay to the Mortgagee as trustee
<br />any Amount necessary to make up the deficiency within thirty (30) days after written notice from the
<br />„i Mortgagee Stating the amount of they deficiency, which notice may be given my mail. If at anv time the
<br />'Mortgagor shall tendet to the !Mortgagee, in accordance with the provisions of the note secured hereby.
<br />full poymeni of the entire indebtedness reptesented therebo. the Mortgagee as trustee shall,' gumpeting,
<br />theAmount of such indebtedness, aredtt io the account of the Mortgagor any credit balance accumulated
<br />under the provisions of (a) of paragraph 2 hereof. If there sh'i11 tx a default under any of the provision%
<br />of this siottgage tesultialt in a public sale of the premises, covered hereby, or if the• Mortgagee acquires
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