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85-0 003979 To HAVE AND To HOLD the sir -ie unto the Mortgagee, as herein provided. Mortgagor represents to, and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises; that they are free from encumbrance, except as hereinotherwise recited; that the Mortgagor will warrant and defend the same against',:he lawful claims of all persons whomsoever. Mortgagor hereby relinquishes all rights of homestead, all marital rights, either in law or in equity, and all other contingent interests of the Mortgagor in and to the above- described premises. PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to wit: 1i ^t *s9oc: agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date at the rate of Eleven per centum ( 13 'c) per annum on the unpaid balance until paid. The said principal and interest shall be payable at the office of Superior Mortgage, Inc. in Grand Island, NE 68802 , or at such other place as the holder of the note may designate in writing delivered or mailed to the Mortgagor, in monthly installments of Foul" Hundred Twenty— eightand55 /100 Dollars ($ 428.55 ), commencing on the first day of October , 19 85 , and continuing on the the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final payment of principal and interest shall be due and payable on the first day of Septetriber 2015 ; all according to the terms of a certain promissory note of even (late herewith executed by the said Mortgagor. The Mortgagor further agrees: 1. He /she will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or one hundred dollars ($100.00), whichever is less. Prepayment in full shall be credited on the date received. Partial prepayment, other than on an installment due date, need not be credited until the next following installment due date or thirty days after such prepayment, whichever is earlier. 2. Together with, and in addition to, the monthly payments of principal and interest payable under the terms of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (under the terms of this trust as hereinafter stated) on the first day of each month until said note is fully paid: (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable on policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all as estimated by the Mort- gagee. anti of which the Mortgagor is notified") less all sums already paid therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, premiums, taxes and special assessments. (b) The aggregate of the - amounts payable pursuant to subparagraph (a) and those payable on the note secured hcr?by, shall be paid in a single payment each month, to he applied to the follow- ing items in the order stated: (1) ground rents, tax,-s, assyssrnents, fire and other hazard insurance premiums; (u) interest +,n the n�tese�rured hereby; and (tit) anu.rtization of the principal of said rote. Any deficit-ncy in the amok.nt r,f an'} such aggregate rt*. ,rithlr payniont shall, unless made good by the Mortgagor, prior to the due date of the next such payment, constitute an event of default under this mortgage. At Alor•tgagve's option, Mortgagor will pay a "late charge" not exceed- ing four per ceutum ( f!'. ) of any install ment when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in handling delinquent payments, but such "late charge" dealt riot he payable out of the provo.4,ds of any sale made to satisfy the indebted- ness liccured lr, rOw, unless su<:h pr,xvv.As are sulfit wnt to discharge the entire indebtedness and all proper casts and expenses secured thereby. 3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and assessment, or insurance premiums, as the case may be, such excess shall be credited by the Mortgagee on subo.quent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee, shall be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such items when the same shall become due and payable, then the Mortgagor shall prey to the Mortgagee, as trustee, any amount necemary to make up the deficiency within thirty 130) days after x ritt.en notice from the Mortgagee stating the amount of the deficiency, which notice may be givr!n by mail. If at any time the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured hereby, full payment of the entire indebtednem represented thereby, the Mortgagee, as trustee, shall, in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance accumulated under the provisions of (a) of paragraph 2 hereoU If there shall be a default under any of the provisions of this mortgage resulting in a public Hale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the time of the commencement of such proceedings, or at the time the property is otherwise acquired, the aillount them remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the interest accrued and unpaid and the balance to the principal then remaining unpaid on said note. 4. The lien of this instrument shall remain in full force and offect during any iN,lt I'M lnement or exlen- sii'm of the time of payment of the indebtedness or arry nart. there or secured hereby. 6. H*ishr will pay all gn and rents, Woes, earsesaments, water rates, and other governmental or mww.tpsl eharpo, fines, or impositions. levied upon said premises and that he,she will pay all taxeR levied upon this mortilaige, or the ON nreurrd thereby. together with any other taxe;e or arse rnentx which mad he levied under the laws of Nebriksks against the Mortgagee, or the legal holder of card l+rine•rpal Mott *, 041 Account (if this tndthtr"In"o, except when payment for all such orms has theretofoh• twwu made under fo of punagrViii 2 hereof, and he!ghe will promptly deliver the official rL V11144 �en�f „r t,. t w Mortgagee, In Arfocrlt themof the fortgage±e may tzar• the Katne. I.