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<br />83-fJOl't/7
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<br />To HAVE AND To HOLD the same unto the Mortgagee, as lH'rein pl'ovided, 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 Iwrf'inotlwrwise H'cited ; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all p<'I'sons whomsoever. Mortgagor hereby relinquishes
<br />all 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 />PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to
<br />wit:
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<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of Twelve per centum 12. OO.f) per annum on the unpaid balauce until paid,
<br />The said principal and interest shall be pavable at the office ot First Fed~ral~aVtin~s f L~ 1
<br />- and ,."oan ,sso .<il 10 0 nCLl n ,
<br />in Lincoln, Ne braska ' or at such other place as rile 110 <1er 0 the no e may eSlgnate III
<br />writing delivered or mailed to the ;\Iortgagor, in monthly installments of Fgl!h f\l\ndred Ninety Eight
<br />Dollars ($ 498.88 ), commencing on the first day of June ,r!T83 , and eontinuing on
<br />the first day of each month thereaftel' 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 May ,2013 ; all
<br />according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor,
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<br />The Mortgagor further agrees:
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<br />1. He wiII 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 doiiars ($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 installment due date or thirty days after such prepayment, whichever is earlier.
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<br />2. Together with, and in addition to, ; l,e 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:
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<br />(a) A sum equal to the ground rents, if any, next due, plus the premiums that will next beeome due
<br />and payable on policies of tire 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 ,rhich the lIIortgagor is notified) less all sUlns 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 wil! 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 amonnts payable pursuant to ,ubparagraph (iI) and those payable on the
<br />note seeUl'ed hereby, shall be paid in a single payment each month, to be applied to the follow-
<br />ing items in the order stated:
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<br />(I) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(II) interest on the note secured hereby; ano
<br />(III) amortization of the principal of said note,
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<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good
<br />by the Mortgagor prior to the due date of the next such payment, constitute an event of default
<br />under this mortgage. At Mortgagee's option, l\oIortgagor will pay a "late charge" not exceed-
<br />ing four per centum (4 ']c) of any install ment when paid more than fifteen (15) days after the
<br />due date thel'eof to cover the cxtra expense involved in handling delinquent payments, but such
<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 sulficient to discharge the entire indebtedness and
<br />all proper costs and expenses secured thereby,
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<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 />assessments 01' 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 aft~r 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 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 or exten-
<br />sion of the time of payment of the indebtedness or any part thereof secured hereby,
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<br />5, He will pay all ground rents, taxes, assessments, water rates, and other governmental or munici-
<br />pal charges, fines, or impositions, levied upon said premises and that he will pay all tax"s levied upon this
<br />mortgage, or the debt secun'[\ thereby, together with any other taxes 01' assessments which may be levied
<br />under the laws of Nebraska against the Mortgagee, or the. legal holder of said prine ipal note, on account of
<br />this indebtednellll, except when payment 1'0" all such items has thel'elofore been made lindeI' (a) of para-
<br />graph 2 hereof, and he will promptly deliver the otlicial receipts therefor to the lIlortgag('e, In default
<br />thereof the Mortgn&,ee may pay the sallle,
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<br />and
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