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<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 herein otherwise 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 />PaovlDeD 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 ( 112' y( ) 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 />Three Hundred Twenty -Eight & 77 /100•Dollars ($ 328.77 ), commencing on the
<br />First day of November 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 October ,
<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 />1. He 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
<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 and payable on policies of rents,
<br />re and other hazard plus
<br />surance co covering he mortgaged roped y,
<br />plus taxes and assessments next due on the mortgaged property ( all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is notified) less all sums already paid therefor divided by
<br />the number of months to elapse before one month prior to the date whey 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 note secured hereby, hallibe paid in ar single payment each month �to and those lx applied to the follow-
<br />ing items in the order stated'.
<br />(t) ground rents, taxes, assessments, fire and other hazard insurance premiorns;
<br />(it) interest on the note secured hereby; and
<br />(nt) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, carless made goad
<br />by the Mortgagor prior to the due date of the next such payment, constitute an event of defrult
<br />under this mortgage. At Mortgagees option, Mortgagor will pay a "late charge' not exceed-
<br />ing four per centum (41,; ) 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 riot he 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 hereby.
<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 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 Mortgagee's option, shall be
<br />refunded to Mortgagor, If- however, such monthly payments shall not he sufficient to pay such items
<br />when the same shall become due and payable. then the Mortgagor shall pay to the Mortgagee as trustee
<br />any amount m: c•e.ssary to make up the deficiency within thirty 00) days attvr written notic e front the
<br />Mortgagee stating the amount of the deficiency, which notice may he given my mail if at rury time the
<br />Mortgagor shall tender to ibtr Mortgagee, in accordance with the ptovisroas of the note secured hI it I.1
<br />full payment of the entire indebtedness represented therehv, the Morn gee as trustee shall, rneYimtrutrng,
<br />the amount of such indebtedness, r re•di1 to tile account c, the Mortgai or ally e relit balcuece ae rnaniiate•d
<br />under the provisions of (a) of paragraph 2 hereof If there sh. ll he ' (lefanit uni •r .+ny "' the pneerslons
<br />of If is mottyage tesulting in a public Yale of the premises e sere l Lerehy, or if the llortt :;rr;re de qunes
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