|
<br />
<br />
<br />B3- 004397
<br />
<br />To HAVE AND To HOLD the same unto the Mortgagee, as hel'ein 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 hereinotherwise recited; that the Mortgagor will wMrant
<br />and defend the same against the lawful claims of all persons whomsoevel', Mortgllgor hCl"eby 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:
<br />
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of Thirteen and one hal~er centum :1.3. 5d6>) ,per annum on the unpaid balance until paid,
<br />The said principal and interest shall be payable at the office of ~~(J5fo~ad~~~!cj~lH~fis of Lincoln
<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 Four Hundred Twenty Nine and 53/10~:
<br />Dollars ($ 429.53), commencing on the first day of October, 1983 ,and continuing on
<br />the first day of each month thel'eafter until said note is fully paid, except that, if not sooner paid, the Ilnal
<br />payment of principal and interest shall be due and payable on the first day of September, 2013 ; all
<br />according to the terms of a certain promissory note of even date hl'J'ewith executed by the said Mortgagor,
<br />
<br />The Mortgagor further agrees:
<br />
<br />1. He will pay the indebtedness, as hereinbefore providHI. I'l'ivilege is reserved to prepay at any
<br />time, without premium 01' fee, the ('ntil';> indebtedness or any part thel"eof 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, ;he monthly payments of principal and interest payable under
<br />the terms of the note secured hereby, Mortl'agor 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 />
<br />(a) A sum equal to the ground 1'('nt.", if any, next due, plus the premiums that will next become due
<br />and payable on policies of fire and other hazard insurance covering 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 notined) less ali sums already paid therefor divided by
<br />the number of months to dapse befot,l' onl' month prior to the date when such ground rents,
<br />premiums, taxes and assessments will bl'('ome dplinquent. such sums to be held by Mortgagee
<br />in trust to pay said ground rents. !)I'emiums, taxes and special assessments.
<br />(b) The aggregate of the amounts payable pursuant to subpal'agraph (il) and those payable on the
<br />note secured hereby, shall be paid in a single paynwnt ('ach month, to be applied to the follow-
<br />ing items in the order stated:
<br />
<br />(1) ground rents. tax('", assessments, tire and other ha7.ard insurance premium.s;
<br />(II) interest on the note senlr('d herd))'; and
<br />(III) amol'tization of the principal of said note,
<br />Any deficiency in the amount of any "Ieh 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 mOltgage. At MOI'tg,lgl'("S option. ;\Iortgagol' will pay a "late charge" not exceed-
<br />ing four per c('ntum (4 ~';) of any install ment when paid more than fifteen (15) days after the
<br />due date then'of to cOWl' the t'xtra pxpense involved in handling delinquent payments, but such
<br />"late charge" shall not be payabl" nul of the pI'ocl'eds of any sale made to satisfy the indebted-
<br />ness secured hereby, unless SUdl PI'oc,'('ds an; sulliei('nt to dischal'ge the entire indebtedness and
<br />all pI'oper costs and expenses SL'CUl't"j thereby.
<br />
<br />3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall
<br />ex~ the amo\Ult of payments actually made by the Mortgagee. as trustee, for ground rents, taxes and
<br />assessments 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 Mortgagor for such item.s or, at Mortgagee's option, as trustee,
<br />shall be refunded to Mortgagor, If, however, such monthly payment.s shall not be sufficient t.o pay such
<br />items when the same shall become due and payable, then the Mortgagor shall pay t.o the Mortgagee, as
<br />trustee, any amount necessary t{) make up the deficiency within thirty (30) days after written notice from
<br />ti1.e Morlgagoo 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 securtld
<br />hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustt.>e, shall.
<br />in computing the amount of such indebtedness, credit to the account of the Mortgagor anj' credit balance
<br />accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any
<br />of the provis.ions of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br />~ortgagee acquires the property otherwise after default, the Mortgagee. as trustee, shall apply, at the
<br />time of the commelll;ement of such PfOCeedings, or at the time the property is otherwise acquired, the
<br />anKl1l,ntthenremaining to credit the Mortgagor under (a) of paragraph 2 prect>ding, as a credit on the
<br />in~estaccru~ and ullpaid and thc.~lance to the principal then remaining unpaid on said note,
<br />
<br />4. The lien of this instrument shall remain in full force and effect during all)' postponement or exten-
<br />sion oithe time of payment of the indebtednc;lll or any part thereof secured hereby,
<br />
<br />5. He will pay all ~ound rents. taxes, asaCS3lllents. water rates, and other l,:"Overnmental or munici-
<br />pa1ch~ges,ftnes, or impositions, levied upon said preini.'lUll and that he will l>llY all taxes levied upon this
<br />~~,o,rthe debt secured tlwreby, together with any oUler taxes orasae6llUlellt.s whii:hmll.j' be levied
<br />u~erU\e1awllcd'Nebrll:ska against the Mortgagee, or the legal holder of said prindpal note, {m Recount of
<br />tliliiin~btedn., except when paYffillnt for all such item.~ has theretofore been made tlll<k'r (,.) of para-
<br />grlloph 2hereQf. and he will promptly deliver the officiall'eceipts therefor to the Mortgage"" Tn default
<br />thereoHhe Mortgagee may pay the same,
<br />
|