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<br />86-- 00439.15 -��03'
<br />To HAVE AND To HOLD the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br />and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises;
<br />that they are free from encumbrance, except as hereinotherwise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br />all rights of homestead, all marital rights, either in law or in equity, and all other contingent interests of
<br />the Mortgagor in and to the above - described premises.
<br />wit: PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of Ni ne and 8 /10 per centum ( 9.8!"o) per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of Norwest Bank Omaha, National Association
<br />in Omaha, Nebraska , or at such other place as the holder of the note may designate in
<br />writing delivered or mai,ed to the Mortgagor, in monthly installments of Four HundredThirty-Three & 071100
<br />I Dollars ($ 43 3.07 ), commencing on the first day of September , 1985 ,and continuing on
<br />the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final
<br />payment of principal and interest shall be due and payable on the first day of August, 2005 ; all
<br />according to the terms of a certain promissory note: of even date herewith executed by the said Mortgagor.
<br />The Mortgagor further agrees:
<br />I. He /she will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />time, 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 the
<br />date received. Partial prepayment, other than on an installment due date, need not be credited until the
<br />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 this
<br />trust as hereinafter stated) on the first day of each month until said note is fully paid:
<br />(a) A sum equal to the ground rents, if ant•, next due, plus the premiums that will next become due
<br />and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next duo on the mortgaged property (all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is natifie(1) l(rss all sums already paid therefor divided by
<br />the numbew of months to elapse before one month prior to the date when such ground rents,
<br />premiums, taxes and assessments Will become delinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rents, premiums, taxes and special assessments.
<br />(b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the
<br />note secured hereby, shall lie paid in a single paytnent each month, to be applied to the follow-
<br />ing items in the order stated :
<br />(t) ground rents, taxes,.tsseNSnlentN, fire and either hazard insurane premiums;
<br />(1I) interest an the note secured hereby; and
<br />01.0 amortization of the principal of said note.
<br />Any deficivr►cy in the amount of :my such aggregate monthly paytnent shall, unless made good
<br />by the Mortgagor prior to the due (tale of the next such payment, constitute an event of default
<br />under this mortgage. At Mortgagee's nption, Mortgagor will pay it "late charge" not exceed-
<br />ing four per centum cj ; ) of any installment wilon paid more than fifteen (1 Vii) days after the
<br />due date thereof to cover the extra (•xix'nse ineohed in luuullingdelin(pi ent payments, butsuch
<br />"lack charge" shall not lie payable out of the pr(wceds ref any sale made to satisfy the indebted-
<br />ness secured hereby, unit :rs such proeecds 141.4• sufficient to discharge the entire indebtedness and
<br />all proper costs and expenses secured thereby.
<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 Mortgagev, as trustee, for ground rents, taxes and
<br />assesunients, or insurance premiums, as the case may be, such excess shall be credited by the Mortgagee
<br />on subsequent payments to be made by the Mortgagor for such items or, at Mortgageer's option, as trust e,
<br />WWI be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such
<br />itans when the tame shall become due and payable, theft the Mortgagor shall poly to the Mortgagee, as
<br />trustee, any amount necessary to make up the deficiency within thirty (30) daysafter written notice from
<br />the Mortgage stating the amount of the deficiency, which notice may be given by mail. If at any time
<br />the MorWW shall tender to the Mortgagee, in accordance with the provisions of the note secured
<br />hereby, fall Payment of the entire indebtedness reprorstnted thereby, the Mortgagee, as trustee, shall,
<br />in computing the amount of such indebtedness, credit to the account of the Mortgagor any rrrelit t►alance
<br />accumulated under the provisions of (a) of paragraph 2 hereof. if thereiihgll be a default under any
<br />of the provisions of this mortgage resulting in a public Sale of the premiSees coverts h#ftft, or if the
<br />Mortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shall app y, At'T?{ ", -_
<br />time of the conttneneement of such proceedings, or at the time the property is otherwise acquired, the
<br />amomt then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the
<br />interest mervottd and unpaid and the balance to the principal then remaining unpaid on said note.
<br />4. The lion of this instrument shall remain in full force and effect during any postponement or exten-
<br />sion of the toter of t en rnt of the indebtedness (or anv Dart thereof secured hereby.
<br />h. 13s, >sbe will P-v All gr(wnd rents, taxes, assessments, water rates, and either governmental or
<br />' ,, cof appositions, levied upon said premises and that he /she will pay all taxes levied
<br />WOO the dehe cured thereby, together with any other taxers or areeRSmentx which may
<br />0146" Ums .t NOwisilrs sesircat Ihr Mortgagee, or the legal holder of said principal note, im
<br />+ - erst. 4 when payment for alt such items has theretofore• been made under tut
<br />f, w d to-she will promptly deliver the official recelpts therefor to the
<br />1 , 4' Mir_ ipw may pay the, same. s • a
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