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<br />24,-' 00264-6
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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 het'einothenvise recited; that the M:ortgagor 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:
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of Thirteen per cent per centum ( 13 %) per annum on the unpaid balance until paid,
<br />The said principal and interest shall be payable at the office ofTl:e Equitable Building and Loan Association
<br />in Grand Island, 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 ofrhree Hundred Thirty Six and 30/100
<br />Dollars ($ 336.30 ), commencing on the first day of June , 1984 ,and continuing on
<br />the first 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 of May, 2014 ; all
<br />according to the terms of a cHtain promissory note of even date herewith executed by the said Mortgagor,
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<br />The l\Iortgagor further agrees:
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<br />1. He/she will pay the indebtedness. as hereinbefore provided. Privilege j,q 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 the
<br />date received, Partial prepayment, other than on an installment due date, need not be credited until the
<br />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 under
<br />the 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 equal to the ground rents, if any, next due, plus the premiums that will next become due
<br />and payable on policies of lire and other hazard insurance covering the mortgaged property,
<br />plus taxes and ".ssessments next due on the mortgaged property (all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is notified) less all sums already paid therefor divided by
<br />the number or months to <'lapse befon' one month prior to the date when such ground rents,
<br />premiums, taxes and asspssments will Iweomp delinquent, such sums to be held by Mortgagee
<br />in trust to pay .said ground rents. premiums. taxes and specia! assessments.
<br />(b) The aggregate of the amounts payable pursuant 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 />(I) ground n'nts, taxcs, assessments, fire and other hazard insurance premiuma;
<br />(It) interest on the note sel'ured hereby; and
<br />1m) amortization of the principal of said note,
<br />Any defil'ienl'Y in t1w amount <Of any such aggregate monthly payment shall, unlell8 made good
<br />by the Mortgagor prior to the due date of the next such payment, constitute,an event of default
<br />under this mortgage, At Mortgagee's option, Mortgagor will pay a "late charge" not exceed-
<br />ing four pel' el'ntum (4%) of any installment when paid more than fifteen (15) days after the
<br />due date thereof to COver the extra expl'nse involved in handling delinquent payments, but lluch
<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 thereby,
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<br />3, If the total of the payments made by the Mortgagor under (a) of paragraph 2 preced!ngshaJl
<br />exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxea 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 items or, at Mortgagee's option, aa trustee,
<br />ahall be refunded to Mortgagor, If, however, such monthly payments shall not be sufficient to pay such
<br />itema 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 (30) days after written notice from
<br />the Mortgagee 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 secured
<br />hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall.
<br />in computing the amount "f 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 any
<br />of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br />Mortgagee acquires the property otherwise after default, the Mortgagee, as trusk"" shall apply, at the
<br />time of the commencement of such proceedings, 01' at the time the property is otherwise acquired, 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 shail remain in full force and effect during any postpon~ment or exten-
<br />sion of the time of payment of the indebtedness or an\' oart thereof secured hereby.
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<br />5. He{she will pay all ground renta, taxes, asses.smenta, water rates, and other governmental or
<br />muniCipal charges. fmes, or imp06itions, levied upon said premises and that he /she will pay all taxes levk>d
<br />upon thii mo~e, or the debt. se<:ured thereby, tQgether with any other taxes or assessments which may
<br />belevied u~~ the laws of Nebraska against the Morliagee, or the legal holder of said principal note, on
<br />.x:ount oftihif Indebtedness. except when parmen~.for 1'ffl~~'llas theretofore been made under (a)
<br />of paragraph 2 hereof, and he/she will promptly deliver the'O'l'tfd& ~(ljpts therefor to thl' MortgagPl'. In
<br />default thereof the Mo~'W may pay !.be 'ame.
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<br />84.-' 002646
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