83000796 - Laserfiche WebLink

Browse

TO HnvE pTJO To HOLD the same unto the Mortgagee, as herein provided. Mortgagor represents to, and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises; that they are free from encumbrance, except as hereinotherwise recited ;that the Mortgagor will warrant and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes all rights of homestead, all marital rights, either in law or in equity, vtd all other contingent interests of the Mortgagor in and to the above-described premises. PROVIDED fi.t.wnYS, and these presents are executed and delivered upon the following conditions, to wit: Rortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date at the rate of Twelve per centnm (12 Sa) per annum on the unpaid balance until paid. The said principal and interest shall be payable at the office of The united States National Bank of Omaha in ~a~, Nebraska , or at such other place as the holder of the note may designate in writing delivered or mailed to the iVlortgagor, in monthly installments of Four Hundred Eighty-three & 38/100t` ` Dollars ($ 483.38 ),commencing on the first day of April , 19 83 ,and continuing on the the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final payment of principal and interest shall be due and payable on the first day= of March, 2003 ; atl according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor. The Mortgagor further agrees: 1. He will pay the indebtedness, as ltereinbefm•e provided. Privilege is reserved to prepay at any time, without premium or fee, the entire indebtedness or any- part thereof not less than the amount of one installment, or one hundred dollars ($100.00), whichever is less. Prepayment in full shall be credited on the date received. Partial prepayment, other than on an installment due date, need not be credited until the next following installment due date or thirty days after such prepayment, whichever is eazlier. 2. Together with, and in addition to, the monthly payments of principal and interest payable under the terms of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (under the terms of this trust as hereinafter stated) on the first day of each month until said note is fully paid: (a) A sum equal to the ground rents, if any, nest due, plus the premiums that will next become due and payable vn policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all as estimated by the Mort- gagee, and uC which the Mortgagor is notified) less all sums already paid therefor divided by the number of months to elapse before one month prier to the date when such ground rents, premiums, taxes and assessments ~~ i$ become delinquent, such sums to be hold by Mortgagee in trust tv pay said ground rents, premiums, tales and special assessments. (b) The aggregate u1' the amounts payable pursuant to subparagraph (u) and those payable on the note secured hereby, shall be paid in a single payment each month, to be applied to the follow- ing items in the order stated (t) ground rents, taxes, assessments, free and ether hazard insurance premiums; (n) interest on the note secured hereby ;and (tt[) amortization of the principal oi' said note. Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Dtortgagvr prior tv thi: due dale of the nest sack payment, constitute an event of default under this mortgage. At Mortgagee's option, DIort-gagot• will pay ti "late charge" not exceed- ing four per eentum (1 <) of any installment is=hen paid more 'than fifteen (15) days after the due date thereof to cover the extra expense invoked iu lundlingdelinquentpayments, but such "late charge" shall not be payable out of the ptnceeds of any sale made to satisfy the indebted- ness secured hereby, unless such prut•eeds arc sulHcieut to discharge the entire indebtedness and all proper cost`, and expenses secured thereby. 3. If the total of the payments made by the -Iortgagor under (n) of paragraph 2 preceding shall exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and assessments or insurance premiums, as the case may be, such excess shall be credited by the Mortgagee on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee, shall be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as trustee, any amount nocessary to make up the deficiency within thirty (30) days after written notice from the Mortgagee stating the amount of the deficiency, which notice may be given by mail. [f at any time the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall, in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default, the Rortgagee, as trustee, shall apply, at the Lime of the commencement of such proceedings, or at the time the property is otherwise acquirc~cl, the amount then remaining to credit the Mortgagor under (m) of paragraph 2 preceding, as a credit on the rntereat accrued and unpaid and the balance to the principal then remaining unpaid on said note. 9. The lien of this instrument shall remain in full force and effect during any pustpvuentent or exten- sion of the time of paymonC of the indebtedness or any part thereof secured hereby. ~. He will pay all ground rents, taxes, assessments, water rates, and other govarnnteutal or muni~i- pal charges, final, or impositions, levied upon said pt•omises and that he will pay alI taxes levied upon this mt~t`tga$e, ar the debt secured thereby, together with arty other taxes or assessnte:ttis which may be Ic.vied under Lhe Taws of Nebraska against the 1ltortgagea, ar the legal holder of said principal note, on account of this irtdebtedns~tt, ex+^ept when payment for all such items hoe theretofore bnrtt made under (a) of para- geaplt g hnrea'f, and he will pramp#ly de:hver the o374eial rec^cupts therefor to the Alot•i.gagee. l:r default thereof the hlartylag4~ Wray pay the same.