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I This form is used in .connection with mortgages. Insured ~nder: the on. to four~famUv~provi.ions'of the National H<Mising' Acti, 83':"" 004572 MORTGAGE THIS MORTGAGE. made and executed this 29th day of August ,k)}. 19 83 .byandbetween Stephen F. Vaughn and Lori K. Vaugbi" Husband and Wife of tile County of Hall . and State of Nebraska, party of the first part, herl!inafkr called the Mortgagor. aDd Superior Mortgage, rnc. a corporation organized and existing under Ihe laws of party of the second part, hereinafter called the Mortgagee. Nebraska WITNESSETH: That the said Mortgagor. for and in consideration of the sum of Fifty Thousand Three Hundred Fifty and No/lOOths --------------------------- Dollars(S 50 350.00' ),paid by the Mort. gage<. the receipt of which is hereby acknowledged. has Granted and Sold and bY' these presents does Grant; Bar. gain, S<lI. Convey and Confirm unto the Mortgagee. its successors and assigns. forever, the following-described real estate, situated in the County of Hall ,and State of Nebraska. to wit: Lot One (1), in Block Four (4), Olde Mill Subdivision, City of Grand Island, Hall County, Nebraska. of the Sixth Principal Meridian. containing in all ment survey: TO HAVE AND TO HOLD Ihe premises "bo".." oescribed. wilh all the appurtenances thereunto belonging and including all heating. plumbing and lighting fixtures and equipment now or hereafter anached to or used in connection with said re.al estate unto the Mortgagee. and to its successors and assigns. forever. The Mortgagor represents 10. and covenants with. the Mortga- gee. that the Mortgagor has good right 10 sell and convey said premises; that they are free from encumbrance; and that the Mortgagor will warrant and defend the same againsl the lawful claims of all persons whomsoever; and the said Mortgagor here- by relinquishes all rights of homestead. and aU manial righl':'>. either in law or in equity, and all other contingent interests of the Mortgagor in and 10 the above-described premises. lhe inlenlion being to convey hereby an absolute title. in fee simple. includ- ing all rights of homestead. and other rights and interests as aforesaid. acres according to Govern- PROVIDED AL WAYS. and these presenb are executed and delivered upon the following conditions. to wit: The Mortgagor agrees to pay to the Mortgagee, or order, the principal sum of Fifty Thousand Three Hundred Fifty and No/100ths -------- Dollars ($ 50,350.00 ), with interest from date at the rate of Ten & Three Tenths per centum (10.3 %) per annum on the unpaid balance until 9/1/86 . and thereafter at the rate of Ten and Three Quarters per centum ( 10.75 \) per annum on the unpaid balance until paid. The said principal and interest shall be payable at the office of Super ior Hortgage, Inc. in Grand Island, Nebraska , or at such other place as the holder of the note may designate in writing, in monthly installments of Four Hundred Fifty Three and 06/100 -- -------- Dollars ($ 453.06 ). commencing on the first day of October , 1983, and on the first day of each month thereafter until 8/1/ 8 6 .. and Four Hundred Sixty One and 79/100ths ----- Dollars ($ 461. 79 ) commencing on the first day of September) 1983 .** and on the first day of each month thereafter until the principal and interest are fully paid, except that the final payment of principal and interest, if not sooner paid, shall be due and payable on the first day of September, 2013 .11 according to the terms of a certain promissory note of even date herewith executed by the. said Mortgagor. The Mortgagor in order more fully 10 prole,t the securily of Ihis Mortgage, agrees: l. That he will pay the indebledness, as herembelore provided. Privilege is reserved {O pay Ihe debt in whole, or in an amounlequalto one or more monthly payments on the principallhat are next due on the note. on the first day of any month prior lomalluity: Provided. however. ThaI written nOlice of an intenlion to exe",ise such privilege is given at least thirty (30) days prior to prepayment. 2. That, together with. and in addilion to, Ihe monthly paymenls of principal and interest payable under the lerms of the Il!)(e se.cured hereby . the Mortga&or will pay 10 the Mortgagee. on the first day of each month until the sail! note is fuUy paid. the ful1ow;ngsumS: (a) Amo~nt sufficient to provide the holder hereof with funds to pay Ihe next mortgage mSulance premium If this instrument and the note secured hereby arc insured, or a monthly chillge (in lieu of Q mortgage insunmce pre' mium) if they are held by the Secretary of Housrng and Urban Development. as follows: (I) If and so long as said note of even date and tblS insllument are insured or are reinsured under tI,e pIa' villons of Ih" NaHoflalllousmg Acl. an amoun! su[(icienllo accumulate in the hands of the holder one [thee. y.a.c. troftl th.. 4ate: berlitotj I J' I3lOlttna (t'O:b the: Uru payment d.<<ttl1 ('the Ut.h 1'ft(;)t\t.h) Atpt-.. tHA,.2t.l.M, W'dd~ M.v a. 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