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74-~trt~s54
<br />Tc HAVE AND To Hor.D the same unto the Mortgagee, as herein provided. Mort a:gor represents to,
<br />and covenants with, the Mortgagee, that the 111ortgagcr has good right to sell and convey said premises;
<br />that they are free from encumbrance, except as hereinotherc+•ise recited ;that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all pes•sans ++homso~:•er. Ainrtgagor hereby relinquishes
<br />all rights of homestead, all marital rights, either in laa• 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 itiiortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of Nine and one half per centum (9.5 to } per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the office of Mortgage Plus incorporated
<br />in Englewood, Colorado , or at such other place as the hclder of the note may designate in
<br />writing delivered or mailed to the Mortgagor, in monthly installments of Four Hundred Forty and 4?/100ths
<br />Dollars ($ 440.47 },commencing on the first day of June ,19 79 ,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 clue and payable on the first clay of May 2009 ;all
<br />according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor.
<br />The Mortgagor further agrees:
<br />1. He will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />time, without premium or fee, the entire indebtechtess 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 ,ot be credited until
<br />the next following installment due date or thirty days after such prepayment, whichever is eazlier.
<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 Lerms 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 fire and othet• hazard insurance covering the mortgaged property,
<br />nlus taxes and assessments next due mt the mortgaged property (all as estimated by the Mort-
<br />gagee, and of which the htot•tgagor is notified) less all sums already paid therefor divided by
<br />the number of months to el2pse before one month prior to the date when such ground rents,
<br />premiums, taxes and assessments kill become delinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rents, premiums, taxes and special 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 />ingitems inthe order stated
<br />(t) ground rents, taxes, assessments, hre and other hazard insurance premiums;
<br />(II) interest on the note secured hembp; and
<br />{tII) amot•tization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless 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 tiiortgagee's option, 1ortgagor will pay, a "late charge" not exceed-
<br />ing four per centum (~l ~) of any installment when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra expense involved in handling delinquent payrrsents, but such
<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 />a}1 proper costs and expenses secured thereby.
<br />3. If the total of the payments made by the Mortgsgor under (a) of paragraph 2 preceding shall
<br />exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes 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, as trustee,
<br />shall be refunded to Mortgagor. If, however, such monthly payments shall not be sufficient to pay such
<br />iteata when the same shall beceme due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br />trustee, any amount necessary to make up the defsciency within thirty (30) day's 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 ++-ith the provisions of the note secured
<br />hereby, full payment of the entire indebtedness represented thereby, the 3ortgagee, as trustee, shall,
<br />in computing 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 any
<br />of the provisions of This mortgage resulting in a pubic sale of the premises covered hereby, or if the
<br />3i<ortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the
<br />time of the commencement of such proceedings, or at the time the property is otherwise acquired, the
<br />amount then remaining to credit the Mortgagor under (a) of paragraph Z preceding, as a credit on the
<br />interest accrued and unpaid and the balance to the principal then remaining unpaid on said note.
<br />4. The Lien of this instrument shall remain in full force and effect during any postponement or exten-
<br />sianpf~he,time of payment of the indebtedness or any part thereof secured hereby.
<br />5.,He will•pay all ground rents, taxes, assessments, water rates, and other governmental or munici-
<br />pal charges, fines, or impositions, levied upon said premises and that he will pay all taxes levied upon this
<br />mortgage, or the debt secured thereby, together with any other taxes or assessments which may be levied
<br />under the laws of Nebraska againstthe Mortgagee, or the legal holder of said principal note, on account of
<br />t~ ;,, P + n ,except when payment for all such items has theretofore been made under (a) of para-
<br />graph 2 hereof, and he will promptly deliver the official receipts therefor to the >Vortgagee. In default
<br />thereof the Mortgagee may pay the same.
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