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<br />84 -006543
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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 premisea;
<br />that they are free from encumbrance, except as herein otherwise recited; that the Mortgqor will warrant
<br />and defend the same apinst the lawful claima of all persons whomsoever. Mortgqor hereby relinquiahe8
<br />aD rights of homestead, all marital riahts, either in llowor in equity, and all other contiDpnt intereeta of
<br />the Kortpcor in and to the above-ducribed premises.
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<br />PRoVIDED ALWAYS, and these presents are executed and delivered upon the foUowiq conditiou,
<br />to wit:
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<br />Mortgqor qreea to pay to the Mortgagee, or order, the aforesaid principal awn with iJdereet from
<br />date at the rate of Twe 1 v e And One Ha If per centum ( 12 ~ %) per annum on the unpaid baJaI1ce
<br />until paid. The said principal and interellt shall be payable at the office of the Loan Guarut7 0Ilcer.
<br />Veterans Adminiatration Regional Oftk:e, 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 installmenta of
<br />Hundred Sj~!LQ.rI~,_~,d_4?/lGO __ Dollars <$ 261.49 ),commencingonthe First
<br />day of January ,1985 ,and continuing-on the First
<br />day of each month thereafter until said DOte is fully paid, euept that, it DOt sooner paid, the final pay-
<br />ment of principal and interellt shall be due and payable on the Fi rst day of December ,
<br />2014 ; all according to the terms of a certain promissory DOte of even date herewith executed by the
<br />said Mortglll'Or.
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<br />The Mortgqor further qreea:
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<br />1. He will pay the indebtedneu, as hereinbefore provided, Privilege is reserved to prepay at any
<br />time, without premium or fee, the entire iildebtedne88 or any part thereof not leu than the amount of ORe
<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 insl.a.Ument 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:
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<br />(a) A sum equal to the ground rents, if any, next due, plus the premiums that wiD next become due
<br />and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and a88essmentl next due on the mortgaged property (all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is notified) leu all sums already paid therefor divided by
<br />the number of months to elapse before one month prior to th,~ el..ate when such ground rents,
<br />premiums, taxes and assesaments will become delinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rents, premiums, taxes and special 8SSCMments.
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<br />(b) The aggregate of the amounts payable pursuant to subparagraph (a) and thoae payable on the
<br />note secured hereby, shall be paid in a single payment each month, to be lJ,pplied to the foUow-
<br />ing items in the order stated :
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<br />(I) ground rents, taxell, ll8IIessmenta, fire and other hazard insurance premiums;
<br />(II) interest on the note secured hereb)'; and
<br />(III) amortization (If the principal of said note.
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<br />Any deficiency in the amount of any such aggregate monthly payment shall, un1e88 made good
<br />by the Mortcagor prior to the due date 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 />ine four per centum (40/1,) of any illBtallment 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 not be payable out of the proceeds of any sale made t;Q satisfy the indebted-
<br />ness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedneS8 and
<br />all proper costa and expenses secured hereby.
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<br />], If the total of the payments madE' by the Mortgagor under (a) of paragraph 2 preceding shall
<br />l~xceed the Jmount of payments actually made by tht~ Mortgagt~l' as trustet~ for ground rents, hllles and
<br />asse!!l!>ments ol'insurllnct' premiums, as the case may be, such I'xcess shall be credi ted by thl' Mortgagel'
<br />on subllequent paymt~11I to be made by the Mortgagor for such items or, at Mortgagee's option, shall he
<br />refunded to Mortgagor, If, howl"ver, such monthly payments shall not hI' sufficient 10 pay such items
<br />whm the same shllll becoml' dill:' and payable. then thl' Mortgagor shall pay to Ihe Mortgag(>'.' as frush'!>
<br />any liijlOunt nel.'eslIlllY to mak!' III' rhl' defi<it'llcy within rhHly (.10) days afh'r wflltt'n lloticc' from thl'
<br />'4orllf,'jge.. 5tillllllg the amount of HH' ,I..finency, which notic(> may he ;!,IVl'll my motl If at anv rinw Ihl'
<br />Morllitagor flhull 1l'ntlN to Ih.> \Corll(llgl'f' in iHTNdance wllh the pro \'I SlOllS of !llP 11011' ''''(\11.'<1 h"H'by,
<br />full puym,,"1 oflh.. ,'uhrl' Inrh'blt',lrws.. 't^I)ff,'sf'l1tetlrherf'bv, Ih.' Morlga>:"., iI" Inlsl.,!' "hall, Inl"f1lp'lhl1f~.
<br />Ih., ~mooot .,1 :>lueh lllrl..h"'dllf"~!i, i rf'rllll0 Ihp ",,.ount of 1111' Morlf:af;(>! ;IllY . "'Ihl h,d"II"" 'Ill "flll\!..It'd
<br />'lIvl..., Ill.. prfJVI!>lOlI:li 1/1 (a) of l14uill(mph ,J IH'ff"nt If t1wr!' slHll1 tw ,I ,II,f,litlf 'Iudl" ''''\ '" nil' Ilwnslttu!,
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