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<br />To HAVE AND To HOLD the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br />and covhnants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises;
<br />that they are free from encumbrance, except as hereiMtherwise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br />all rights of nomestead, all marital tights, either in law or in equity, and all other contingent interests of
<br />the Mi>rtgagQl' in and to the above-described premises.
<br />PRovri>EE.ALWAYS, and these presents are executed and . delivered upon the following conditions, t& .,
<br />wit:
<br />
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of TWELVE and 00/100 per centum p.O()Q,) per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of Commercial Federal Savings I> Loan Assoc.
<br />in Omaha, Nebraska ,or at such other place as the holder of the note may designate in
<br />writing delivered or mailed to the Mortgagor, in monthly installments of THREE HUNDRED NINETY and 87/l00
<br />Dollars ($ 390.87 ), commencing on the first day of July ,19 8,31:mdcontinuingon
<br />the first daY of each month thereafter 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 June, 2013 ; all
<br />according to the terms of a cel'tain promissol'y note of even date herewith executed by the said Mortgagor.
<br />
<br />The Mortgagor further agrees;
<br />
<br />1. He will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />time, without premium 01' fee, the entire indebtedness or any part thereof not less than the amount of one
<br />installment, or one hWldred 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 installment due date or thirty days after such prepayment, whichever is earlier.
<br />
<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 this
<br />trust as hereinafter stated) on the first day of eacl1 month until said note is fully paid:
<br />(a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due
<br />and payable on policies of lir(' and oth,'r 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 which the Mortgagor is notified) less all sums already paid therefor divided by
<br />the number of months to ('lapse bl'fore one month pI'iol' to the date when such ground rents,
<br />premiums, taxes and assessnlt'nts will beeome delinquent, such sums to be held by Mortgagee
<br />in trust to pa~' said ground rents, pn'miums, taxes and special assessments.
<br />(b) The aggregate of the amounts payable pursuant t{) subparagraph (a) and those payable on the
<br />note secured hereby, shall be paid in a single paym,'nt each month. to be applied to the follow-
<br />ing items in the order stated:
<br />(I) gl'Ound rents, taxes, assessments, tire and other hazard insurance premiums;
<br />(ll) interest on the note secured hereby; and
<br />(IU) amortization of the prineipal of said note.
<br />Any defiei,'llcy in the amount of any sueh aggregate monthly paym,mt shall, unless made good
<br />by the Mortgagor prior to the d,I<' <lat<' of the next such payment, constitute an event of default
<br />under this mOl'tgage. At Mortgagee's option, :\lortgagor will pay a "late charge" not exceed-
<br />ing four IX,r centum (4 'J,') of any mslaH ment when paid more than fifteen (15) days after the
<br />due dat.c, then'of to ,'over tilt' "xtl'a ,'xll'c'Ilse in\',}lved in handling delinquent payments, but such
<br />"late charge" shall not be pa~'abk out of the pnlCe.:ds of allY snle made to satisfy the indebted-
<br />ne&!! secured herE'by, unkJ8S such fll'occ't,,-is am sumeient tn discharge the entire indebtedness and
<br />all propel' costs and expenSE'S secured thereby,
<br />
<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 />~ts or insurance premiums, as the case may be, such excess shall be credited by the Mortgagee>
<br />on subsequent payments to be made by the lfortgagor for such items or, at Mortgagee's option, as trustee,
<br />sball be refunded to. Mortgagor. If, ho\\'~ver, su(,h monthly payments shall not be sufficient to pay such
<br />it.emlJ when the aa,me shall become due and payable. then th.e 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 M~ ahaU tender to the Mortgagee, in aecm'dance with the provisions of the note lK'Cured
<br />hereby, fun payment of the entire indebtedness represented therebY, the Mortgagee, as trustee, shall,
<br />inejlffiputing the amount of 8uch indebtedness, credit to the account of the Mortgagor any credit balance
<br />aeewnulated Ul:lJier the provisions of (a) of paragraph 2 hereof. If there shall be a default under any
<br />of the ptovi$iona of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br />Ko~ &<:quires the property otherwise after default, the Mortgag.:,'8, 8l! trustee, shall apply, at the
<br />tUne. of the COItI111!!~ent of 8uch proceedings, or at the time the property is otherwise acquired, the
<br />lI~~renuWrlng, to credit the Mortgagor under (a) of paragraph 2 preceding, 1I8 a credit on the
<br />il\~al1C~ ~un~d and the balance to the principal then remaining unpaid on said note.
<br />
<br />4. .1,'he, lien of this instl'ument shall remain in full force and effe<,t during any post[)oncment or exten-
<br />1Ii<ln of the ti.ule of payment of the indebtedness or any part thereof secured hereby,
<br />
<br />~ lie pay all ground retlta, tax.... a~ents. water rates, and other gnvermnental or munid-
<br />lW c.~ ... . or impo;tiUonll. 16vied upon!lllidl>rIl~hlt'.ll arid that he will pay all ta.xel! levied upon tilis
<br />.cOr.th!1Hi(lbt aecun>d ~n.>by, togetJICr with allY other taxes QI' a8S('ssments which may be levied
<br />Jlt~tifNebt..kaagai~thQ}f~~,orth(llilgal holder of saidprincipalllote, nn 1\t;COuut of
<br />',...... ~~ when ~yment tOr.lil1~cl1 items lm.~ theretofore been madt~ under (11) (If para-
<br />llfl\ph 2~f.and he will promptly delivcr the ofllcial receipts tiwrefQr to the ;\i<>rtgag"", In default
<br />u.e~f ~ )lort'llIlOO may par the 5llme,
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<br />83-002531
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