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<br />83- 004519
<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 />tJUittheyarefree from encumbranee; except as herein otherwise recited ; thatthe Mortgilgor wiU'Yarra~t
<br />atlddeferidthe salrieag'llin8tthe'lawful claims of all persons whomsoever. .. Mortgagorhereby relitl~8~e.
<br />a11~brof ~d, all marital rirhts, either in law or in equity; and all othfir contingent int.eresf:8;l)f'
<br />tIfe'lIbrfgagorirfaridto the abOVe-deseribed premises.
<br />
<br />PRovtDED ALWAYS, and these presents are executed and delivered upon the following conditions,
<br />to wit:
<br />
<br />Mortgagor agrees to pay to the Mortgagee. or order, the aforesaid principal sum with interest from
<br />date at the rate of Eleven and One !fal f per centum ( 111 ')Q) per annum on the unpaid balance
<br />until paid. The said principal and interest shall be payable at the office of the Loan Guaranty Officer,
<br />Veterans Administration Regional Office, Lincoln, Nebraska, or at such other place as the holder of the
<br />note may designate in writing delivered or mailed to the Mortgagor. in monthly installments of
<br />Five Hundred Eighty Six (; 75/100---Dollars ($ 586.75 ).commencingonthe
<br />First day of October ,1983 , and continuing on the First
<br />day of each month thereafter until said note is fully paid, except that. if not sooner paid. the final pay.
<br />ment of principal and interest shall be due and payable on the I'i rst day of September ,
<br />2013 ; all according to the tenus of a certain promissory note of even date herewith executed by the
<br />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 or fee, the entire indebtedness 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 dat~ or thirty days after such prepayment, whichever is earlier.
<br />2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br />the tenns of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee (under the terms of
<br />this trust as hereinafter stated) on tbe installment due date of each 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 fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and _menta next due on the mortgaged property (all as estimated by the Mort-
<br />gagee, and of which the Mortg-agor is notified) less all sums already paid therefor divided by
<br />the number of months to elapse before one month prior to the date when such ground renta,
<br />premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee
<br />In trust to pay said ground rents, premiums. taxes and special assessments.
<br />
<br />(b) The aggregate of the amounts payable puc&uant to subparagraph (a) and those payable on the
<br />note secured hereby, shall be paid in a single payment each month, to be applied to the follow.
<br />ing items in the order stated:
<br />
<br />(1) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(11) interest on the note secured hereby; and
<br />(m) amortization of the principal of said note.
<br />
<br />Any deficiency in the amount of an~' such 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 df)fault
<br />underthiamorlgage. At Mortgagee's option, Mortgagor will pay a "late charge" not exceed.
<br />ing four per centum (4 %) of any installment when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra expense involved in handling delinquent payments, but such
<br />"late charge" shall not be payable out of the proceeds of any sale made to satisfy the indebted-
<br />ness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br />all proper costs and expenses secured hereby.
<br />3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall
<br />el!:p~d the amount of payments actually made by the Mortgagee as trustee for ground rents, taxes and
<br />~~~Jllef1ts or insurance premiums, as the case may be, such excess shall be credi ted by the Mortgagee
<br />on~u~~l1e!\tpayme!lts to be made by the Mortgagor for such items or, at Mortgagee's option, shall be
<br />ref~dedio t,(ortga$or. If, however, such monthly payments shall not be sufficient to pay such items
<br />when the !lame shall become due and payable, then the Mortgagor shall pay to the Mortgagee as trustee
<br />auy amount nece.&sary to makeup the deficiency within thirty (30) days after written notice from the
<br />MortgaglilC stating the amount of the defkieI\cy, whichno.tice ma~ ~ &iven my mail. If at any time the
<br />Morlgagor shBll tender to theMortgagee, in accordancewlth the prOVIsions of the note. secured hereby,
<br />fllUPaylnellt ofthl.' entire indebtedness represented tbereby, the Mortgagee as trustee shall, in computing;
<br />t!\ej.\jnO\.\llt or suchindej,)tedness, credit to the account or the Mortgagor !Ill)' ('(eoit balance accumulated
<br />ullder thr. provi!lio!'l$ of (a) or pamgrapb 2 hereoL If there shall be a deiuullunder any of the provi.siollS
<br />of tbis mortgage (e!lulling in a public sale of the premises covered hereby, or if the Mortgage>: acquires
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