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<br />' y" ~ Second mortgage
<br />` • t'~~`~,~~+~s:v~i~ ~ for ; .
<br />Section 235 Cases 1
<br />With Addend~n,. for Repaytnee-xt of Section 235 Assistance ~ ._._._._:
<br />THIS MORTGAGE, made and executed this 29th day of January A.D,
<br />1982 , by and bettrteen N+atthew Jay Ostrander and Gloria June Ostrander, Husband and Wife
<br />of th+e County of Hali and State of Pebraska, party of the first part
<br />hereinafter called the t~lortgagor and the Secretary of the Department of Hous?ng and
<br />Urban Develapment
<br />party of the second part, hereinafter called the Mortgagee.
<br />I.dITNESSETH: That the said tortgagor, is justly indebted to the Mortgagee in the
<br />principal sUm 6f Ninety seven thousand two hundred and No/l0aths---DallarS {S }
<br />which principal sum will not exceed an amount computed under the terms of the Note
<br />executed by said Mortgagor on January 29, 1982 , with interest, in
<br />accordance with said Note. That as security for said taote the Mortgagor does by these
<br />presents Grant, 3arcain, Sell, Convey and Confirm unto *he ?9ortgagee, its successors and
<br />assigns the following described real estate situated in the County of Mali
<br />`state of tebraska, to wit Lot "rwo (2?, Potash subdivision, Hall county, Nebraska
<br />TO HAVE AND Tti?~iOLD the premises above described, with all the appurtenances
<br />t+?ereunto belonging and including all heating, plumbing and lighting fixtures and equia-
<br />meni now or hereafter attached to or used in connection with Said real estate unto the
<br />Mortgagee, and to its successors and assigns, forever. The tortgagor represents to, and
<br />covenants with, the t?ortgagee, that the Mortgagor has goad right to sell and eonve;V said.
<br />premises; that they are face from encumbrance, except for an FFA first mortgage; and that
<br />the t'rartgagor will warrdnt gnu defend tnc 5a`me asjainst the lawful Cia?:^.'S of all persans
<br />arhomsaever; and the said Mortgagor hereby relinquishes all rights of homestead, and all
<br />~~,arital rights, either in law or ir, equity, and all other contingent interests of the
<br />lf~srtgagor in and to the above-described prer:,ises, the intention being to convey hereby an
<br />absolute title,. in fee simple, including ai3 rights of homestead, and other rights and
<br />interests as aforesaid.
<br />PROVIDED AtIdAYS, and these presents are executed and delivered upon the foltoveing
<br />conditians, to wit:
<br />The Mortgagor agrees to pay to the Mortgagee, or order, the principal sum of Ninety
<br />seven thousand two hundred and t3o/lOQths-------°-- :rollers {$ 97,2Q0.00 },
<br />with interest as provided in the t+ote dated .~anuaxy 29, is82 and executed by tortgagor
<br />The t'ortoagor in order rsore Tu11y to protect the security of this t1ortgage, agrees:
<br />1. That he :will pay the indebtedness, as hereinbefore provided. Privilege is
<br />reserved to ;?ay the debt in whale, or in an amount equal to ane or more monthly payments
<br />on the. principal that are next due on the note, an the first day of any month prior to
<br />maturity: Provided, however, That rsritten notice of an intention to exercise such privilege
<br />is given aL least thirty {3O} days prier to prepayment. •
<br />2. That the Mortgagor will pay ground rents, taxes, assessments, water rates, and
<br />other governmental or municipa3 charges, fines, or impositions, for which provision has
<br />not been r.?ade hereinbefore, and in default thereof the hfortgagee may pay the same; and that
<br />the t'~rtgagor wilt promptly deliver the afficial receipts therefor.to the tortgagee.
<br />3. The t4ortgagpr will pay all taxes which may be levied upon the Mortgagee`s
<br />interest in said real estate and improvements, at?d which may be levied upon this mortgage
<br />or the debt sLcured t;ereby {but only to the extent that such is net prohibited by law and
<br />only to the extent that such will not make this loan usurious}, but excluding any income
<br />tax:, State or Federa3, imposed on Mortgagee, and will Fite the official receipt showing
<br />suctl payrsent,with the t~iortgagee. Upon violation of this undertaking, or if the Mortgagor
<br />,y n, r~ ~.ta~ b la; ^a.~ yr h~ ~ft
<br />r~ =N y ::y .. , c`kr cx?3ting ~i`a,ii pay in^y fife '•'h^l2 ar any partian ^f
<br />the aforesaid taxes.:, or upon the rendering of any court decree prohibiting the payment by
<br />the liort9aror or any such taxes, or if such law or deere2 provides that any amount so paid by
<br />tkte l`ksrtyagor shall be-credited on the mortgage debt. the Mortgagee shall have the right to
<br />give ninety da;{s' w+~itten notice to the owner of the mortgaged. premises, requiring the
<br />pay~ren; of ehe ma r2 •aae debt. If suctr notice be given, the said debt shall become due,
<br />cayableandeollect~ble at theexpiration of said ninety days.
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