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<br />83-004325
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<br />83-f}0270B
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<br />To HAVE AND To HOLD the same unto the Mortgagee, as herein provided, 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 hereinothenvise 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 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 ELEVEN and 00/100 per centum {I. O~) per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of Commercial Federal Savings & 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 ONE THOUSAND TWO HUNDRED SIXTY NINE
<br />Dollars ($ 1,269.58 ), commencing on the first day of July , 19 8,4.md continuing on & 58/100-
<br />the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final -IJl>'JIkf
<br />payment of principal and interest shall be due and payable on the th'st day of June, 1998 ; all
<br />according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor.
<br />
<br />The Mortgagor further agrees:
<br />
<br />1. He will pay the indl'btedness, as hereinbefore provided, Privilege is reserved to prepay at any
<br />time, without premium OJ' fee. the entil'e indebtedness 01' 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 seeured 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:
<br />(a) A sum equal to the ground rpn18, if any, next due, plus the premiums that will next become due
<br />and payable on policies of fire and other hazard insurance l'ovpring the mortgaged property,
<br />plus taxes and assessments next due on the mortgagl'd property (all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is notified) kss all sums alrl'ady paid therefor divided by
<br />the number of months to dapse lll'fore one month pnor to the date when such ground rents,
<br />premiums, taxes and assessments \\'ill become ddinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rents, pn'miums. taxes and special assessments.
<br />(b) The aggregate of the amounts paYRble pursnant to snbparag-rRph (a) and those payable on the
<br />note secured hen'h)', shall be paid in a singll' pa)'II1l'nt .'ach month. to be applit'Cl to the follow-
<br />ing items in the ordel' stated:
<br />(I) ground rents, taxes. assessments. tire and other hazard insurance premiulll8;
<br />(Il) iaten'slon the notesecurf'(] hereby; and
<br />(1Il) amortization of the principal of said note.
<br />Any deficiency in the amount of 'HI)' sHch aggl'l'Katt' mouthly payment shall, unless made good
<br />by the 1\1ortgagol' prior to the <iu... date "i the next such paynwnt, l'ollstitute an event of default
<br />under this mortgage. At .Mortgagee's option, Mortgagor will pay a "late charge" not exceed-
<br />ing four per Cl'lItum (.\,.; ) of any Install ment when paid more than fifteen (15) days after the
<br />due date th"'!'.'of to n".l'!' the ('xtra ",xpenSl' in\'ol\'ed III handling delinquent payments, but such
<br />"late charge" shall not be payable llUt of the pruceeds of any sale madl' to satisfy the indebted-
<br />ness secured hen'by. unless such Jll'ocecds are sutfkient to dischargt' the entire indebtedness and
<br />all propel' costs and expeust,g secm,,'d thereby,
<br />
<br />3. If the total of the payments made by the Mortgagor under (a) of pal'agraph 2 preceding shall
<br />exceed the amount of payments actually made by the Mortgagl.>e, as trustee, for ground rents, taxes and
<br />assessments or insurance premiums. lIS 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 trusu.."C,
<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 (:\0) days aIter written notice 1'1'0111
<br />the Mortgagee stating the amount of the deficiency, which notice may be given by maiL If at any time
<br />the MoJ'1:<<agor shall tender to the Mortgagee, in accordance with the pl'Uvisions of ll'" nok' secured
<br />hereby, full paJ.'lIlent of the entire indebtedness represented thereby, the Mortgagee, as h'ustee, shall,
<br />in computing the amount of such indebtednes.s, credit to the account of the Mortgagor any credit balance
<br />accumulated under the provisions of (a) of paragraph 2 hereof. If thel'e shall be a default under any
<br />of the provisions of this mortgage resulting in a public sale of the premises coverl.><1 hereby, or if the
<br />MO!"tIagee acquires the property otherwise after default, the Mortgagee, as trusk><., shall apply, at the
<br />time of the commencement of such proceedings, or at the time the pro\ll'l'ty is otherwise acquil'ed, 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 fOl'ce amI 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 paj' all ground rents, taxes, assessments, water rates, and other governmental or munici-
<br />pal chargl),S, fIlles, or impositions, levied upon said pretnises and that he will pay all taxes l('vied UpOI1 this
<br />mortgage, or the debt secured thereby, together with any other taxes or assessments \\ hidl lIIay be levied
<br />under thelaWll of Nebraska against the Mortgagee, or the legal holder of said pnllclllalll<'te, on acc\Junt of
<br />this indebt(!dness, except when payment lor all such itelWl has theretofore bl'ell made und,'r ((I) of para,
<br />graph 2 hereof. and he will prollll?tlJ.' deliver the official receipts tlwrefor to the MortgageL In default
<br />thereof the Mortgagee tIUlJ' pay tile same.
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