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<br />83- \.106553
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<br />To IL\ -fE AND To HOLD the same unro the Mortgagee, as herein Pl'ovided. Mortgllgor represents. ro,
<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; thatthe Mortgagor will warrant
<br />and defend the same against the lawful claims of allpersons whomsoever. Mortgagor hereby relinquishes
<br />allrights of hOmestead, all marital rights, either in law or iit equity, and all other contingent interel!1;sof
<br />the.M,ortgl.\gOr in and to the above-described premises.
<br />J'ROVlIlED,ALWAYS, and these presents are executed and delivered upon the followingeonditions;w
<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 T\TJ.\T 01 nc' 5C/ 1 CO per centum F . 5(1%) per annum on the unpald balance until paid.
<br />The said. principal and interest shall be payable at the office of TO\<er (j n,wcibl, I nc.
<br />in l.incoln, ''<,rr""",,, , or at such other place as the holder of the note may designate in
<br />writing delivered or malled to the Mortgagor, in monthly installments of Frl.Tr: "mZm\EIl F:ICHTEEN and 90/H'0
<br />Dollars ($ !l8. 'JD ), commencing on the first day of rebnlJi.ry ,Ill "{'andcontinulngon
<br />the fll'St 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 first day OfJ,'ntHlry, 2014 ; all
<br />according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor.
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<br />The Mortgagor further agrees:
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<br />1. He will pay the indebtedness, as her(,inbefore 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 />instaJlment, or one hundred dollars ($100.00), whichevp.r 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.
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<br />2. Together with, and in addition to, the monthly payments of principal and interest payable nnder
<br />t.he terms 'Of the note secured 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 ~'Qual to the ground rents, if any, next due, plus the premiums that will n.net become due
<br />and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and assessment" next duc on the mortgaged pl'Operty (all as estimated by the Mort-
<br />gagee. and of which the Mortgagor i~ notified) less all sums already paid therefor divided by
<br />the numbe.. of months to daps" 1",1'0"" one month prior to the date when such ground rents,
<br />premiums, taxes and assessml'nts will become delinquent, such slims to be held by Mortgagee
<br />in trust to 1m.... said ground ....uts. premiums, taxes and special assessments.
<br />(b) The aggregate of the amounts payable pursuant tn subparagraph (IL) and those payab. ,n the
<br />note seeured ll('reby, shan be paid Il1 a .ingle pa~'ment each month, to be applied to the follow-
<br />ing items in the orde,' stak'<l:
<br />(t) ground rent.~. taxes. assessm{'nts. fire and other hazard insurance premiums;
<br />tUI interest on the note se"ured hereby; and
<br />(III) amortization nf the principal of said note.
<br />Any defkienc}' in tIl., "mount of any "",h aggTPgnt" monthly payment shall, unless mnde good
<br />by the Mortgagur prior to the due dat.. of the next such payment, constitute an event of default
<br />under this mOl'tgage. At Mortgagee's option, Mortgagor will pay a "late charge" not exceed.
<br />ing four per "entum ( .I':l) of any install ment when paid more than fifteen (15) days after the
<br />due date thereof to l'Owr the ,'xtra exp..'llse involved in handling delinquent payments, but such
<br />"la.te "harge" shall not be pa~'able out of the proceeds of any sale made to satisfy the indebted.
<br />n~ secured hereby. unless such proceeds are sullieient to discharge the entire indebtedness and
<br />all proper "(lsts and expenses secured thereby.
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<br />S. If the total of the payments made by the Mortgagor under (IL) of paragraph 2 preceding shall
<br />exceed the amount of payments actually made by the Mortgagee. as trustee, for ground rents.. taxes and
<br />_ta or insurance premilUllll, as the calle may be, such excess shall be credited by the Mortgagee
<br />on 811baequent payments to be made by the Mortgagor for such items or, at Mortgagee's option. as trustee,
<br />shall be refunded to Mort:aagQr. If, however, such monthly payments shall not be sufficient to pay such
<br />items. when the same shall beeome due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br />trustee, any amount necesl!&l'Y to make up the deficiency within thirty (30) days after written notice from
<br />the lIortaaaee stating the amount of the deficiency, which notice may be given by maiL If at any time
<br />the ~ shall tender to the Mortgagee, in accordance with the provisions of the note secured
<br />hereby, full pa)'lDellt of the entire indebtednell8 represented thereby, the Mortgagee, as trustee, shall,
<br />in OOIllpllting 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 allY
<br />at the proviaiona of thia mortgage resulting in a public sale of the premises covered hereby, or if the
<br />liII>at&- aequirs the property otherwia a:fb!r default. the Mortgagee, as trustee, shall apply, at the
<br />tiJMccat the ~t of lIUch proeeedinp, or at the time the property is otherwise acquired. the
<br />t\IBOI'IIlt tUa~niqto credit the MortaalpJr under (a) of paragraph 2 prooedinll', as a credit on the
<br />i~aclCI'IM!Ill and.uapaid and the balance to the principal then remaining unpaid on said note.
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<br />4.. ThlJ l_of.thja instrument shall remain in full force and effect during any postponement or exten-
<br />sioaof the t.imlIof pa)'tIIeIlt of the indebted_ or any part thereof secured hereby,
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<br />6. IDt wlllPllY all ground l't'nta. tax., -tlI, water ra~ and other governmental or munici-
<br />pal........ AD-. 01' im~liOl1l,levied lIJl<lnllllid llremille8 and that he will pay all taxes levied upon t.hi.
<br />~Ol'..dtlOt_1lI1.'d ttwreby, ~tbeJ' with any other tax. or lI8lWlISIMnts which may be levied
<br />~ ttMI.._<ltN~.....J:\St the Mort~. or the legal holtk!.r of said principal note, on account of
<br />_J~.......t wn.n pa)'lllflnt for All lluclIltems AU the"retofore ~n made \lnd!.'!' I It) IIf para-
<br />...llh 2~. !llId.M will promptly deiiver th.. offlI:ia.1 ~J1t& l,b..refOt' to the Mort~. Tn defalllt
<br />tl.tcmIof the ~ may l'*)' the_.
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