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<br />83- 001631
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<br />To HAVE AND To HOLD the same unto tll(' Mortgagee, as herein provided, Mortgagor represents to,
<br />and covenants with, the Mortgagee, that the Mortgagor has good right to St'H and convey said premises;
<br />that they are free from encnmbrance, exeept as hel'<'inotherwise recited; that the Mortgagor will warrant
<br />and defl>J1d the same against the lawful claims of all persons whomsoevpr, Mortgagor hereby relinquishes
<br />all rights of homestead, all marital !'ights, either in law or in l'quity, and all other contingent interests of
<br />the Mortgagor in and to the above-described premises,
<br />PRoVIDED ALWAYS, and these presents are executed and delivered npon the following conditions, to
<br />wit:
<br />Mortgagor agTees to pay to the MOl'tg-ag-ee, 01' order, the aforesaid principal sum with interest from date
<br />at the rate of Twelve pel' eentum i2. 000) p~r ann~m on the unpaid balance until paid,
<br />The said principal and interest shall be payable at the otTice of Kli,PEo~lldx~~Sci~lllli:\s of Lincoln
<br />in Lincoln. Nebraska ,01' at such other place as the holder of the note may designate in
<br />writing delivered or mailed to the ;,lortg-agor, in monthly installments of Four Hundred Eleven and 45/100
<br />Dollars ($ 411. 45 ), commencing- on the first day of May ,1983 ,and continuing on
<br />the first day of eaeh month thereafter until ,aid nlltl' is fully paid, except that, if not sooner paid, the linal
<br />payment of principal and interest shall be dIll' and payable on the first day of April ,2013; all
<br />according to the terms of a cert.'lin promissory note of even date lwrewith executed by the said Mortgagor.
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<br />The Mortgagor further agrees:
<br />1. He will pay tht' indebtedness, as hel','inuefor,' provided. Privilege is reserved to prepay at any
<br />time, without premium or ft'"" I he ,-nlirC' ind,'bt.'dllt'SS or an)' pan thereof not less than the amount of one
<br />installment, or one hundred doilars i$lOO,OOl. 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 ur thirty days after such prepayment, whichever is earlier,
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<br />2, Together with, and in addition to, .,,, monthly payments of principal and interest payable under
<br />the terms of the note secured hereby. Mort "agoI' will pay to Mortgag-ee, as trustee, (under the terms of this
<br />trust as hereinafter st.'1ted) on the first day of each month until said note is fully paid:
<br />(a) A sum <''Iual to the ground rents, if an)', IwXt due, plus the premiums that will next become due
<br />and payable "n policies "t' lire and "ther hazard insurance covl'ring the mortgaged property,
<br />plus taXt'S a!H1 assessnll'nts next du" on Ow mortgaged propeliy (all as estimated by the Mort-
<br />Kagel', and of whIch the ;\!ortgagl)l' is notifit'dl It'ss all sums all'l'ady paid therefor divided by
<br />the numlwr of 010llth5 to dapse b~'fort' (lUl' nWllth prior to the date \\'hen such ground rents,
<br />premiums, taxes and aSSl'SSn1l'nts wtlllwl'lJllll' d.,linqut'nt, sueh sums to be held by Mortg.'1gee
<br />in trust to pay said ground n'nts. preJl1iUln~. taxes. and special assessments.
<br />(b) The aggregate..f till' amounts payablt' pursuaut to subpanlgraph (n) and those payable on the
<br />note sC'ClIl'l'd hel'l,by, shall bl' paid in a singl., payment <,ach month, to be applied to the follow-
<br />ing items ill the order st'lted:
<br />(I) ground rents, taxt's. aSH'S~l1it'llt~. !in:' and other hazard insurance premiums;
<br />(1I) int~n.'st on the note 5t~Cllr('d hereby; and
<br />(III) il.lllortizatlon of the pJ~ineipal of ~ai(l note.
<br />Any detki,'nc)' in t.he amount (If allY such aggl'C'Kate monthly payment shall, unless made good
<br />by the ~Iongagor prior t.o till' dill' datc' ..f t.he next such payment, constitute an event of def.'1ult
<br />under t.his mortgage. At ;,!ortgagee's ""tion, :'lortgagol' will pay a "late charge" not exceed-
<br />ing four per centum (I '., ) of any installllll'llt when paid more than fifteen (15) days after the
<br />due date th<'l't'Of toeo\'er the extra expense in\'olved in handling delinquent pa~'ments, but such
<br />"late dllll'ge" shall not Ilt' payable "Ut of till> pl'Ot't't'ds of an~' sale made to satisfy the indebted-
<br />ness SeC'lIl'ed hel't'by, ulll.'ss sudl procc,,'ds art' suilkieut to discharge the entire indebtedness and
<br />all prop,'r costs and expenses se.:ured thel't'by,
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<br />3, If the total of the payments made by the Mortgagol' under (a) of paragraph 2 preceding shall
<br />exceed the amount of payments .'1ctually made by thl' Mortgagee, as trustee, for ground I'ents, taxes and
<br />assessments or insurance premiums. as the case may !x>, such excess shall be credited by the Mortgagee
<br />on subsequent payments to be made by the Mortg.'1gor 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 .\Iort.gagor shall pay to the Mortgagee, as
<br />trustee. any amount necessary !{) make up the deficienc~' within thirty (aOl days after written notice from
<br />the Mortgagee stating the amount of the del1ciency, which notice may be given by mail, If .'1t an~' time
<br />the Mortgagor shall tender to the Mortgagee, in aL'Cord.'1nce with the provisions of the note st'Cun>d
<br />hereby. full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br />in computing the amount of such indebtedness, uedit tt. the account of the Mortgagor any credit b.'1lance
<br />accumulated under the provisions of (al of paragraph 2 hereof, If there shall be a default under any
<br />of the provisioDll 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 :'fortgagee. 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 accrued and unpaid and the balance to the principal then remaining unpaid on said note,
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<br />4, The lien of this instrument shall remain in full force and effect during any postponement 01' exten-
<br />sion of the lime of paymt'nt of the indebtedness or any p.'1rt thel't'Of secured hereby,
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<br />l), He will pay all ground rents, I.axt'll. a.'iSe8llments. water rates, and otht'" governmental or munici-
<br />pal charas. flOO8, or impositions, levi(:(l upon said pt1!misea and that he will pay alllaxes levied upon this
<br />II'IGl'tpge, or t.be debt aecured thereb)'. togethel' with any oth('r taxes or asllesaments whkh m.'1Y be levic'li
<br />under I,", laWiI of Nebl'lUIka against tho Morigagt'll, or the legal holder of said principal note; on account of
<br />ttu. indllbtedn-. elloopt wh..n ~lllyment fol' aU sUI,h Items hll8 theretofore been made undel' (a) of para-
<br />jp'1lJ)b 2 hef'lilUf, and he will promptly deli\'".. t.ho ollieial rcc'elptll therefor t{l the :'lortgagee, In default
<br />the...,.,! the Mor4laitoo may pay thl> llllllle,
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