84001030 - Laserfiche WebLink

Browse

83-- 1_irr,6306 l~e•-+'e~orSee~ 84 -~ 01030 To Have axa TO Hot.a 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, alt marital rights, either in law or in equity, and all other contingent interests of the Mortgagor in and to the above-described premises. PftOV7DED ALWAYS, and these presents are executed and delivered upon the following:.conditions, to wit: Dlot•tgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interestfrom~ate at the rate of Ten Point Eight Seve~ti~er centum (10 • ~ per annum on the unpaid balance until paid. The said principal and interest shall be payable at the office of Conunercial National sank & Trust Co. in Grand island , or at such other place as t}te holder of the note may designate in writing delivered or mailed to the Mortgagor, in monthly installments of Two Hundred Eighty-One Dollars & Dollars ($ 281.92 ).commencing on the first day of ,7anuary , 19 84 ,and continuing on 92/100 the first day of each month thereafter until said note is frilly paid, except that, if not sooner paid, the final payment of principal and interest shall be due and pay able on the first day of December, 2013 ;all according to the terms of a certain promissm•y note of even date herewith executed by the said Mortgagor. The Mortgagor further agrees: 1. He will pay the indebtedness, as }tereinbefore 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 earlier. 2. Together with, and in addition to, the monthly payments of principal and interest payable under the terms of the note secured hereby, lYiortgagor 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: (cr) A sum equal to the ground rents, if any, next clue, plus the premiums that will next become due and payable on policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments nest due on the mortgaged property (all as estimated by the Mort- gagee, and of which the Mortgagor is notifiecU less all sums already paid therefor divided by the number of months to elapse brfm•e one month prior to the date when such ground rents, premiums, tales and assessments will becon'te delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, premiums, taxes and special assessments. (b) The aggregate of the amounts pa}able pursuant to subparagraph (¢) and those payable on the note secured hereby, shall be paid in a single payment each month, to be applied to the follow- ingitems in the order stated (t) ground rents, taxes, assessments, Gre and other hazard insurance premiums; (II) interest on the note secured hereby;and (ttt) amortization of the principal of said note. Any deficiency in the amount of auy such aggregate monthly payment shall, unless made good by the Mortgagor prior to the due date of the nest such payment, constitute an event of default under this mortgage. At Dortgagee's option, ;1ortgagor will pay a "late charge" not exceed- ing four per centum (4''~l) of any installment when paid more than fifteen (15) days after the duc date thereof to cover the extra espense involved in handling delinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale made to satisfy the indebted- ness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and all proper costs and expenses secured thereby. 3. If the total of the payments made by the Mortgagor under (a) 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 necessary to make up the deficiency within thirty (30) days after written notice from the Mortgagee stating the amount of the deficiency, which trotice may be given by mail. If 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 (¢) 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 Ilfortgagee, as trustee, shall apply, at the time of the commencemont of such proceedings, or at the time the property is otherwise acquired, the amount then remaining to credit the Mortgagor under (n) of paragraph 2 preceding, as a credit on the interest accrued and unpaid and the balance to the principal then remaining unpaid on said note. 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- sion of the time of payment ofthe indebtedness or any part thereof secured hereby. IS, Ile will pay all ground rents, taxes, assessments, water rates, and other governmental or munici- pal charges, Ernes, ar impositions, levvied upon said premises and that he will pay all taxes levied upon this mortgage, or the detrC secured thereby, together with any other taxes or assessments which may be levied under the law°s of Nebraska against the Mortgagee, or thr legal holder of said principal note, on account of thistndtibtedness, except when payment far atl such items has theretofore bean made under (a) of para- gruph P l:en:of, and he will gromptly deliver the official recx.ipts therefor to the 3lortgagee. In default thereof thhv Morrtgagcre tray pay rfie~ same.