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<br />PROVIDED A' and th .presents are executed and delivered up~e fpli conditions, to wit: ~
<br />'I'hehfortgagor t,, ., io pay to the Mortgagee, or order, iheprincipal sum of 'ltaenty _._.:.ISand---------
<br />--------------------------------------NO(100 llotlars ($ 20,000.00 ), with. interest from
<br />state at• the rate of seven per centum (----7- •4~ er annum. tin
<br />----- ) P
<br />the unpaidbalalireuntilpaid. Thesaidprincipal andinterest shah be payable at'the office of
<br />First National Bunk & Trust Company of Lincoln
<br />in Linco l.n, Nebraska or at such other place as the holder of
<br />the note maydesignate inwriting, in monthly ins[nldments of One llundxed Thirty Tltree--------°------
<br />---------------------20/100 Dollars ($ 133.20 ), commencing en the first day of
<br />tlpiil i973, and on the first day oC each. month thereafter. until the. principal and in-
<br />Latest are fully paid, except that the final payment of principal and interest, if rot sooner paid, shalt be due and
<br />payable on the firstday of 1`laTCh 2003 ;all according to the terms of a certain promis-
<br />sory note of even date herewith 'executed. by the said Mortgagor.
<br />The Mortgagor in order more fully to protect [hesecurity of this Mortgage, agrees:
<br />is ThaC he will na-y the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole,
<br />or in an amountequai [o one or mo:emonthly payments on the principal that are next due on the note, on tfiedirst
<br />daygf any mgnih prior to maturity: Prouided, hotuever, That written notice of an intention to exercisesuch privi-
<br />lege isgivenat-least thirty (30)days prior to prepayment; and provided ~nrcher, Thai in the event this debt is pa id
<br />in full prior to maturity andat that time it is insured under the provisions of the Alan onal Housing Act, all parties
<br />4iableforthe'payment ofsame, whether principal, surety, guarantor or endorser, agree to be jointly and severally
<br />boundto pay to the.:ho!derof lhenote securedhereby an adjusted premium charge of one pee centum.(1%)of the
<br />originals principalamount thereof, except that in no event shall the adjusted premium exceed the aggregate amount
<br />of premium charges which would have been.payable if this mortgage and the note secured hereby had continued to
<br />be insuied until maturfty; such payment to be applied by the holder thereof upon its obligation. to the Secretary of
<br />Houszngand Urban I)evelopmenfon account oPmortgage insurance.
<br />2. That, together with,and`inaddi[ionto, the monthly payments of principal and interest payable under [he
<br />terms of the-note secured. hereby,. the Mortgagorwill pay to thehldrigagee, on the first day of eachmonth tiatil the
<br />said note is fully paid,. the following sums:
<br />(aj ~Ui amount sufficient to provide theholdcr hereof. with funds to pay the next mortgage insurance premiur.+ if this instru-
<br />mentand the .note secured hereby mre insured, or amonthty charge (in lieu of nmortga geinsurancepremium)if .they.
<br />are held by IheSecretarynf Housing andUrban Development, ss fo lldws:
<br />(I) [( and so-Long as. said nole of even date and the s inslrumentare. insured or ore-reinsured under :h e. pro visions of
<br />(he. National Housing Act,. anamounlsu[f(cient. to accumulate inthe handsof [beholder one (1),monthpriorto
<br />its dvedate the annual morigege. insurance premium i order to'.provide such holder wish funds;opay. such pre;
<br />mium_lo the.Secretary of.Housing. and: Urban Development pursuant to the Natior. al Housing Act,es amended, and
<br />appl(cable;Regutatians. thereunder,or.
<br />(ll) !f nndso .long as'snid note of a ndete andthisin stnament ore held bythe Secretary of Housingend .Urban De-.
<br />velopment;a onthlycherge (ia lieu o(. a ortgage in ranee premium) whichshall. be in n. mount equal: to one-
<br />. lweiCth (1/12).oC. one-half (yi) per centum-o( the average outstanding-boiunce due on thr note computed. without
<br />taking intoaceountdel inquencies or prepayments;
<br />(6J A sum>equal to: the ground ran ts,. iC eny.,next due, plus thepremiums that will next become due andpe yable on policies
<br />o!dire and other hazardinsurance coxeringthe mortgaged property, plus taxes end: assessments next due. on the mort-
<br />.gaged property (allies estimatedby the;M1lortgagee) tessq llsums atreedy paid there Cor divided by Ihenumberof months
<br />to elapse be(dreon e. monthprior. fo the dalewhrn suchground. rents, premiums,-taxes end assessments will become
<br />delinquent, such sums to.. be heltlby Mortgagee in.:Wet to pay :s^.d .ground rents,-F~remiums, faxes .and special ossesa-
<br />menYs; and
<br />{cJ All puy nents nentionedin .the two precedingsubsections of. this paragraph and all pgym ants to 6c made underihe note
<br />secured herebv shall tie addedtogether, andtheeggregateemount thereofshall be oeid byihe Tdortgavor eer_h montfiin
<br />fnglc p yment to be npplled by:.the..Mortgegee tolhe following rtemsin the. order st. forth:
<br />(i)p emrum rherges under the contract of insurance with the Secretary of Hdusingand Urban Deveio pmenC, or monthly
<br />cha ge (rn T+ of mortg ge. msura ce p emium), es Ihccase-maybe
<br />- (II) g d rents taxes, assess teats, f wand otherhazard in surence p emm ,
<br />(f II).int Est qn: the natesen redhcreby, and
<br />(iV)arnortfza[ion-ofthe'prrncipel. of said note:
<br />Any-deficiency in the amounio! anysuch aggregate monthly p<tymen Csh all unless madegood by the Mortga gor prior to
<br />[he: due dateoL the next such payment„constitute an event of default under. this mortgage: 1Tte Mort ga geemay collect
<br />e 1'fate-charge'" not 2oexceedtwo cents,(2E)Ycr each doiisr ($S) of-cnch payment more elan fifteen {15). day s. in nr.vers
<br />to cover .the extra expense involved in hendl ing delinquen6 payments.
<br />3. ThaFiF the 4ota! of the: payments-made 6y the Mortgagor under(GJ ofparagraph2 precadingshallexceed the
<br />amount of payments ac Wa117 madeby theMortgageeEoeground..rents,.taxesahd assessments or insurance premiums,
<br />asthe casemay be;.such excessshallbe credited by the..Mortgagee onsubsequentpaymen[s to bemade bythe.
<br />Mortgagor: If, however, the monthly payments made. by [he .Mortgagor under {bJ of paragraph 2 precedingshalP.hot
<br />tie sufEic:ant. to pay ground rents, Yazesand assessments or insurance'. premiums, asihe case maybe,.wtien the
<br />same shall 1>ecomedue and payable,.Yhen4he Mortgagorshatl paytothe Mortgagee.. anyumounEnecessary-to make
<br />up tfte deficiency, on or before the date when payment-of such giund rents; taxes, assessmentsbr-insurance pre-
<br />_miums shall'be duc..IF atany timethe.MoztgagdrahallYSnder to LheMortgagee,inaccordance with {ileprovisions
<br />ofzhe note securedhereby,;full payment of theentireindebtedness..reprr=sented:thereby;.fhe Mortgagee shall,.in
<br />computing. the amount of such indebtedness, credit,ta the accountof..thehioRgagor all payments made nnderthe
<br />piovisions of (aJ of paragraph 2 hereof •,vhich the Mortgagee has not .become. obligated to pay to the Secretary of
<br />Housing anlUcbanDevelopment andartybalance. ramaihing~inthefuhdsaccumulated under.-the provisions of(b.J
<br />oC paragraph2hereoC.If there shall be adefault under. anyof the provisions.of this. mortga gzresultingin a patt~lic
<br />sale of the: premises covered hereby, be if. the Mortgagee acquires [hepropezty otherwise after default, tlae Mortga-
<br />gee shall apply, at the time of the commencement:. of suchproceediags, or at the Lima [heproperty is otherwise ac-
<br />quired, thebatance thenremainingin the funds accumulated under (bJ of paragraph 2 preceding, as a credit +gains[
<br />the amount of principal then:.remainingunpaid under said .note, andshafl properly adjust nay payments-which shall
<br />have been-made under(aJ of paragraph 2.
<br />4 hat she Mortgagor will pay ground rents, taxes, assessments,. water tales, and other govenunen lal or mu-
<br />L 1 nic tpul Charges, fines; or impositions; for which provision has riot been made he:etnbeforc, and in default thereof
<br />_,' ~„ the Mortgagee may pziy the same; and that the Mortgagor will promptly deliver the official eceipts therefor to the
<br />Mottga gee.
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