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To HAVE AND To HOLD the same unto the Mortgagee, as herein provided. Mortgagor represents to, <br />and covenants with, the Mortgagee.,:fihat 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 />anal defend the,same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes <br />allrights of homestead, ail 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 />Pswvlli M Aj wwxs,.and these presents are executed and delivered upon the following conditions, to <br />wife <br />Mortgagor agrees topaytotheMortgagee, ororde.r,the aforesaid principal sum withinterest from date <br />atthe:rateof _ _ eleven _ _ _ per centum ( 11 v) per annum on the unpaid balance until paid. <br />The said principal and interest shall be payable at the office of Norwest Bank Nebraska, National Association <br />in Omaha, ,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 inztallments of Two Hundred Twenty Seven & 32/100 <br />Dollars ($ 227.32 ), commencing on the first day of February ,19 86 , 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 January, 2001 ; 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. 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 th <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 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 />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 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 be paid in a single payment each month, to be applied to the follow - <br />ing items in the order stated: <br />(I) ground rents, taxes, assessments, fire an(] ether hazard insurance premiums; <br />(II) interest on the note secured hereby-, and <br />(III) 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 (late of the next such payment, constitute an event of default <br />under this mortgage. At Mortgagee's option. Mortgagor will pay a "late charge" not exceed- <br />ing four per centum (4 1,c) of any install ment when paid more than fifteen (15) days after the <br />due date thereof to cover the extra expense involved in handlingdelinquentpayments, butsuch <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 thereby. <br />8. 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, as trustee, <br />shall be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such <br />items when the same shall become 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 written notice from <br />the Mortgagee stating the amount of the deficiency, which notice may be given by mail. If at any time <br />the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured <br />hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall, <br />in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance <br />accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any <br />of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the <br />Mortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the <br />time of the commencement of such proceedings, or at the time the property is otherwise acquired, the <br />Amount then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the <br />interest wcrued and unpaid and the balance to the principal then remaining unpaid on said note. <br />4. The lien of this instrument shall remain in full force and effect during any postponement or exten- <br />sion of the time of payment of the indebtedness or anv Dart thereof secured hereby. <br />5. lie /she will pay all ground rents, taxes, assessments, water rates, and other governmental or <br />municipal charges, fines, or impositions, levied upon said premises and that he /she will pay all taxes levied <br />upon this mortgage. or the debt secured thereby, together with any other taxes or assessments which may <br />be levied under the lasts of Nebraska against the Mortgagee, or the iegai holder of card principal note, on <br />account of this indebtedness, except when payment for all such items has theretofore been made under (a) <br />of paragrgih 2 herwcyf, and he. /she will promptly deliver the official rtwerpte therefor to tht, MurtkaRtw in <br />default thereof the Montag t may ,parry the carne. <br />