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<br />84c-~002650
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<br />To HAVE AND To HOLD the same unto the Mortgagee, as lwrein provided, Mortgagor represents to,
<br />and covenants with, the :Mortgagee, lhat the ivlurtgag"or has goud right to sell and convey said premises;
<br />that t.hey are free from encumbrance, except as hereinotherwise l'l'cit.ed; that the Mortgagor 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, "ithel' 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 and 50/ I 00 pel' centunllt. 50010) pcr annum on the unpaid balance until paid,
<br />The said principal and interest shall he payable at t.he office of Tower Financial, Inc.
<br />in Lincoln, Nebraska , or at such other place as the holder of the note may designate in
<br />writing delivered or mni!eo to the Jlortgag-or, in monthly installments O~OUR HUNDRED FORn SIX and 71/100
<br />Dollars ($ 446.71 ), commenCIng on the first day of July ,19 84, and continuing on
<br />the first day of each month tlwreafter until said note is fully paid, except that, if not sooner paid, the final
<br />payment of principal and interest shall he due and payable on the first. day of June, 2014 ; all
<br />according to the terms of a c"l'tain promissory note of even date hel'ew'ith executed by the said Mortgagor.
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<br />The Mortgagor further agrees:
<br />1, He wil! pay the indebtedness, as h"rpinbefOl'" providf'fl. Privil,'ge is res-"r\'ed to prepay at any
<br />time, without premium 01' fe,', 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 date or thirty days after such prepayment, whichever is earlier.
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<br />2, Together with. and in addition to, : !Ie monthly payments of principal and interest payable under
<br />the terms of the note secured herehy, 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 rpnts, If any, next due, plus the premiums that will next become due
<br />and payab!" on policies of fire and other hazard insUl'ance ('overing the mortgaged property,
<br />plus taxes and aoscssments lIext du,' on th,~ mortgaged property (all as estimated by the Mort-
<br />gage{', and of wllich ih,' MOl'tga!ror is rwt i nl~1l It,ss ~ H sums already paid therefor divided by
<br />the numlwr of mOllths to "'apse IlPfore Olle month prior to the date when such ground rents,
<br />premiums, tax!'" and ass"ssments will be('ome delinquent, such sums to be held by Mortgagee
<br />in trust to [my said ground rl'nts, prpmiums, taxes and special assessments.
<br />(b) The aggregate of the amounts payabh~ pursuant to subparagraph (a) and those payable on the
<br />note $(>CUI'l't! herehy, shall be paid in a singl(' payment each month, to be applied to the follow-
<br />ing itelns in the order stilted:
<br />(I) gruund n.'nts, taxes. a.s3eSl'illWnts, fi1't: and other hazard insurance premiums;
<br />(II) Intl..'lv;-;t on the note se{~urt;'d h(~reby ; and
<br />(Ill) amortization uf Hw principal of said note.
<br />Any defi, 'NIl:y in tll<' amount of allY such aggregate monthly payment shall, unless made.gQOd
<br />by the M(lI'tgagor prior to the due dak of the next such payment, constitute an event of default
<br />nnder this mortgage, At Mortgagee's option, Mortgagor will pay a "late eharge" not exceed.
<br />ing foul' pd' centum (4';.) of any install men I. wheu paid more than fiftllen (15) days.afterthe
<br />due datt, then,of to ('OWl' tIlt; c'xtra c,xp<",se involved in handling delinquent payments,butsueh
<br />"late charge" shall not he payable nut lOt' the proceeds of any sale made to slitiafY the indebted.
<br />nL"8$ secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br />all proper costs and cxpenses secm...'<i thereby,
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<br />3, If the total of the payments made by the Mortgagor under (a) of paragraph 2 preeedingahall
<br />exceed the lUllount of payments actually made by the Mortgagee, liS trustee, for ground rents, taxes and
<br />asse.ssments or insurance premiums, 'lS the case may be, such excess shall be credited, l?Y t111~ Mortgagee
<br />on subsequent payments to be made by the Mortgagor for such items or, lit Mortgagee's option, as trustee,
<br />shall be refunded to Mortgagor, If, however, such monthly payments shall not be sufficient to pay such
<br />items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br />trustee, any amount necessary to make u.p the deficiency within thirty (:30) days after written notice from
<br />the Mortgagee stating the lUllount of the deficiency, which notice may be given by mail. If at any time
<br />the Mortgagor ~ 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 of such indebtedness, credit to the account of the Mortgagor allY 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 :n a public sale of the premises covered hereby, or if the
<br />Mortgagee acquIres the property otherwise after default, the Mortgagee, as trustee, shill! apply, at the
<br />time of the CIlmmencement of such proceedings, or at the time the pl"operty is otherwiae acquired, tile
<br />amount ihfln remaining to credit the Mortgagor under (a) of paragraph 2 prcceding, as a credit on the
<br />interest accrued and unpaid and the balanc{' to the principal then remaining unpllid on s..'1id note,
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<br />4. The lien of this instrument shall remain in full force and effeci during an>' postponement or exten-
<br />sIon of the time of payment of the indebtedm;ss or IIny part thercof secured hereby,
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<br />ft. He will pay all grolllld rents, taxes, aSljessments. water rates, and olh"r governmental or munici-
<br />pal cl\lU'ges, fille.~, or imposiiivns, I'ivied upon slIid premises and that he will pay all taxes levied upon this
<br />ml:lrtJagli, or the debt St;(:Ul..,d tl\(>l'Cby, togl'ther with IIll}' otl",r taxes or :lSSessmNlt.s which lllay be levied
<br />\lndl!i" lilt! 11\\'8 of N'chra$ka sgainst the Mortg.agee'Arilll!~holdcr of said principal note, on l'ccount of
<br />thill indebtedXU!lla, exc",pt when payment for allslleh"itl!buI'J:IAg thcretofoN beellnUld(, under ill) of para.
<br />graph 21wr<x>f, and he will pl'omptly deliver the otlicild r''Ccipts thentfor to the Mortgage". In default
<br />ther'",! tll{, Mortgagee may pay th., same,
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<br />84,--. 002650
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