|
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of Eleven and one half per centum ~l 560) per annum on the unpaid balance until paid,
<br />The said principal and interest shalllw payable at the office of ~Msf.oI:id~~~!crnigfis of Lin<;:oln
<br />in Lincoln, 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 F~ghMtlndred Ninety Four and
<br />Dollars ($ 494.16), commencing on the first day of July , 19 83 ,and continuing on
<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 11I'st day of June ,2013 ; all
<br />according to the terms of a cel'tain promissory 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 hel,,'inbd'ore provided, Privilege is reserved to prepay at any
<br />time, without premium or fe,'. the "nth'e in(kbtedlwss or any part thereof not less than the amount of one
<br />installment, or one hundred 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 lIIortgagce, 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:
<br />
<br />(a) A sum c'Qual to the g-round rents. if auy, next due. plus the premiums that will next become due
<br />and payabll' on policies of tire and other hazal'd il1sul"ance covl'ring the mortgaged property,
<br />plus taxes and assessments next due Ol1 the mortgall'ed property (all as estimated by the Mort-
<br />gage€. and of which the Murtgall'or is notitied) h'ss all "lIIIlS already paid therefor divided by
<br />the number of months to <'lapse Iwfon' ol1e month Iwin!' to the date when such ground rents.
<br />premiums, taxes and assessments will be('om,' dd!llquent, such sums to be held by lI10rtgagee
<br />in trust to pay said gTOUIH.t Y('nts. pri..'millnls. taXt'S and spednl assessments.
<br />(1)) The aggl"l'gate or tl\(! amounts payable' pursuaut to subpar1\ll'I'aph (,,) and those payable on the
<br />note securl'd hereby, shall bt' paid in a "!llgle pU)Ill<'nt ,'ath month. to be applied to the follow-
<br />ing items in the order stated:
<br />
<br />(I) ground n~nt$. taxes. asses~nwnts. fit'(. awl otlwr hazanllHsUt'uBce pretniums;
<br />(Il) interest on the l1ot,'s('('ul,.,d Iwreby; 'lIId
<br />(UJ) ,ullonization of the pl'int.:ipal of said note,
<br />
<br />Any defkit'llcy in the amount of 'IUY such aggrej(at(' monthly payment shall, unless made good
<br />by the :\inrtgagor prior to the due date uf the next such payment. constitute an event of default
<br />under this mortgage, At :llortgagee's opti<m, :llortgllgor will pay a "late charge" not exceed-
<br />illg foul' I"T centum (,Vi) of any install ment when paid more than fifteen (15) days after the
<br />due date thereuf to ('over the ('xtm <,XpellS,) ;ll\'ulwd ill handling delinquent payments, but such
<br />"late charge" shallnnt be payable out of the proceeds of any sale made tll satisfy the indebted-
<br />ness secul"l'd hert'by, unless sLlch pnlcl'eds Hre sutlk-jenl to discharge the entire indebtedness and
<br />all propel' costs and expenses secured th('reby,
<br />
<br />3. If the total of U,e pa)'lIIents made by the Mortgagor under (a) of paragraph 2 preceding shall
<br />ex~the amount of payments actually made by the Mortgagee. as trustee, for ground rents, taxes and
<br />~ents or insurance premiums, as the case may be, such excess shall be c.redited by the Mortgagee
<br />on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trnstee,
<br />shall be refunded to Mor~gor. If, however, such monthly payment.s shalt not be sufficient to pay' such
<br />itenJa when the same shall become due and payable, then the MQI.tgagor shall pay to the Mortgagee, as
<br />trustee, any amount necessary to make up the deficiency within thil'ly (30) days aftf.'!' writ.ten notice from
<br />the Mortga,geelitating the amount of tlte 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 J\lortgagee, as trusU:"J, 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 />M~ee acquires the property othenvise after default, the Mortgagce, as trustee, shall nppb', at the
<br />time of the co~encementofsueh proceedings, or at the time the property is otherwise acquired. the
<br />~~unt the.\lrernsining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the
<br />{n~r~t a/lC,l1led aIldunpaid and th/1 bala,nce to the principal then remaining unpaid on said note,
<br />
<br />4,Tbe Uen <Yf this instrument shall remain in full force and effect during any postponement or exten,
<br />sion of the tlmeoI.payment of the indebtedness or any part then)()f secured hereby.
<br />
<br />5, Ue ,will'Pt\}' all ground rents, la:"'lll)as:;Cll,~l1)etlts, water I'll tell, and other governmental 01' Illunici-
<br />J/a,lc,hal'gea,fl.nell, Of imp(lliIitiollll, lcvi\ld uj;)Onllaid premises and that he will pay nIl taxes I,.ded upon this
<br />Ip~~' lll'the(lebtseeu!1,d tbereby, together with any uther taxes or illlSessm"nts whidl nUly' be levied
<br />u!lw.l'.~ 11l,'Vs fit Nebraska llgaill$t the .Mortgage,'. or the legal ho!,h.or of lUl,id principalllQi;.', uniu'count of
<br />ltij\4\~b~'~el(Cept WflN\ Ih'lyment for all RUI'Il items has tlwn'!ofor{' bet'll !l1wle lllHln i,,) nf para-
<br />graph 2hel'eOf, and he wiiI promptly ""Iiv",' the "tncial r.,,,,';p!,. th"""f",' it) th" Mnh,l;t)W'f" 'tn default
<br />tl1e1'l!()fUw Mortpgec' may pay th" ~l\lI1{"
<br />
|