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oo 00461.1
<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 persona whomsoever. Mortgagor hereby relinquishes
<br />sli 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 />PIIIOVtvw ALWAYS, and these presents are executed and delivered upon the following conditions, to
<br />wit
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate ofEleven and One Half per centum (11� %) per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of The Equitable Building and boon Association,
<br />in {grant Island, Nebraska , or at such other place as the holder of the note may designate in
<br />writing delivered or mailed to the Mortgagor, in monthly installments of one Hundred Seventy gym and 23 10(
<br />Dollars 4 175.23 i. commencing on the first day of October + is SS, 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 SSepteriber, 2000 ; 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 />1. Hershe will pay the indebtedness, as herembefore 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 (8100.00), whichever is tea. 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 Mortgages, 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 any, 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 />Pius taxes and assessments next due �,n the mortgaged property (all as estimated by the Mort-
<br />gagee, and os ,A hich the Mortgagor is notitied) less all sums already paid therefor divided by
<br />the number of months to e lapse lwfvre tine month prior to the (late when such ground rents,
<br />premiums, taxes and assessments ti iil become delinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rf•nt, premiums, taxes and special assessments.
<br />W The aggregatr of the amounts payable pursuant to subparagraph tu) and those payable on the
<br />note secured hereby, shall 1l,, paid in a single payment each month, to be applied to the follow-
<br />ing items in the order slated
<br />(1) gre:,und rents, taxes wm,"Isnsents, fire and +,ther ?iarard insurance premiums;
<br />ill) merest un the note secured her; >by : "nd
<br />(fit) wnortizatiam of the principal of sei,.i note.
<br />r
<br />- Any deticie-nei in 1huarriouraofmV Such aggregat,= niontl ly pa3'ment shall, unless made good
<br />by ttsr- yt,lrigagor prior to the due date of the next .such payment, constitute an event of default .
<br />under this mortgage. At Mortgagee's option. 11c-rtKagor will pay a "late charge' not exceed -
<br />ing four ; *r centum (4l 1) of any installment when paid more than fifteen (15) days after the
<br />.rue date thereat to cover the a -xira c xiwii -w iuvoh-A in handling delinquent payments, but such
<br />"late charge" shall not be payable out of the procf((is of any sale made to satisfy the indebted-
<br />ness secured hereby, unless such proceeds are sufficient to discharge the entire indebtednessand
<br />all proper costa 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 Mortgagee, as trustee, for ground rents, taxes and
<br />or insurance premiums, as the cam may be, such excess shall be credited by the Mortgagee
<br />ua subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee.
<br />shall be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such
<br />items wbon the carne shall became due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br />trustee, any amount necessary to make up the deficiency within thirty (30) days after %ritten notice from
<br />the Mortgagee stating the amount of the deficiency, which notice may be given by mail. If at any time
<br />*e Moelpaoe shall tender to the Mortgagee, in accordance with the provisions of the note secured
<br />imm*y tvil payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br />is computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance
<br />under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any
<br />of the penviaaas of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br />Yortseass acquires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the
<br />U11110 Of the oommism, 1 t of such preceelings, or at the time the property is otherwise acquired, the
<br />a overt thaw remaiaittg to credit the Nkwgogor under (a) of paragraph 2 preceding, as a credit on the
<br />Interest accrued arid unpaid and the baLw :e to the principal then remaining unpaid on said note.
<br />4. The lief of thin instrument shall remain in full force and effext during any Postponement or exten-
<br />ition the time of paw mvnt of the indebtedness or anv hart thereof secured hereby.
<br />11. lfeisise will ;rat( all ground trends. taasa, assionnents. water rates, and other governmental or
<br />inumcipol chwpia. fame. or impositions, levied upon said promises and that he /ahe will pay all taxes levied
<br />upon this inotipge, m the dart arcure+d thereby. together with any other taxes or amsessments whwh may
<br />be IVVW uatdor the lean of Slehrasltlt agrwnt the Mortgagee. or the legal hoer of ®awl principal note, can
<br />amount of " indebtedrim, except when payment for aU such sterns has theretofore been matte ureter du
<br />of parssgnaph 2 hereof, and Wshe e►ili promptly detiver the offx-iaJ receipts therefor Ill the MotlfrVw, In
<br />einfsait tlhrrev.,f the %Uwteorw fnay pay the soau w, 0110 . i
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