79004283 - Laserfiche WebLink

Browse

79"'~~ (1 `t ~ O J TD HAVE AND To HOLD the same unto the Mortgagee, as herein provided. J'1lortgagor represents to, and covenants with, the Mortgagee, that the D~Iortgagor has good right to sell and convey said premises; that they are free from encumbrance, except as hereinotherwise recited ;that the liortgagor +cill +varrant and defend the same against the la+aful claims of all persons whomsoever. Martgagor hereby relinquishes alt rights of homestead, all marital rights, either in la+c or in equity, and alt ether contingent iuterests of the Riortgagar in and to the above-described premises. PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to wit: Martgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date at the rate of ________Ten----------Per centum (10.x) per annum on the unpaid balance until paid. The said principal and interest shall be payable at the office of Commercial Federal Savings & • Loan Assn. in Omaha, Nebraska , or at such other place as the holder o£ the note may designate in writing delivered ar mailed to the Mortgagor, in monthly installments of pour Hundred Fifty-Five anc 0++/160 Dollars ($ --455.04-- ), commencing on the first day of Septetnher > 19.75 ,and continuing on the first day of each month thereafter until said note is fully paid, excel;t that, if not sooner paid, the final payment of principal and interest shall be due and payable on the first day of August 2009 ;all according to the terms of a certain promissory- note of even date herewith executed by the said Mortgagor. The Mortgagor further agrees: 1. He will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, without premium or fee, the entire indebtedness or any part thereof oat less than the amount of one installment, or one hundred dollars ($100.00), whichever is less. Prepayment in full shawl be credited on the date received. Partial prepsyment, other than on an installment due date, need not be credited until the next fcllowing installment due date or thirty days after such prepayment, whichever is earlier. 2. Together with, and in addition to, the monthly payments of principal and interest payable under the terms of the note secured herebv, Mortgagor will pay to Mortgagee, as trustee, (under the terms of this trust as hereinafter stated) on the first day of each month until said note is fully paid: {a) A sum equal to the ground rents, if aatr, nee due, plus the premiums that will next become due and payable on policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all as estimated by the Mort- gagee, and of which the Mortgagor is notified) less all sums already paid therefor divided by the number of months to elapse before one month prior to the date +c•hen such ground rents, premiums, taxes and asse,sments +eill become delinquent, such sums *.o be held by bfertgagee in trust to pay said ground rents, premiums, taxes and special assessments. (b) The aggregate of the amounts parable pursuant to subparagraph (a) and those payable on the note secured hereby, shall be paid in a single payment each month, to be applied to the follow- ingitems in the order stated {t) graurd rents, taxes, assessments, fire and other hazard insurance premiums; (II) in#erest on the note secured hereby; and {?I1) amortization of the principal of said note. Any deficiency- in the amount of ai:r such aggregate monthly payment shall, unless made good by the \iortgagar prier tai the due date of the nest such payment, constitute an event of default under this mortgage. At Mortgagee's aption, \iortgagor will pay a `gate charge" not exceed- ing faur p<r centum (l •`~) of am installment when paid more than fifteen (15) days after the due date thereof to cover the extra expense invoiced in handlingdelinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale made to satisfy the indebted- ness soured hereby, unless such pi-aceeds are sufficient to discharge the entire indebtedness and all proper cwts and expenses secured thereby. 3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the amount of payments actually made by the 14iortgagee, as trustee, for ground rents, taxes and assessments or insurance premiums, as the case may be, such excess shall be credited by the Mortgagee oa snbaequeat payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee, shall be refunded to :Mortgagor. If, however, such monthly payments shall not be sufficient to pay such itzaas when the same shall become due and payable, then the ;Siortgagor shall pay to the Mortgagee, as trustee, any amount necessary to make up the deficiency within thirty {:'30) days after written notice from the Mortgsg+ee stating the amount of the deficiency, which notice mar be given by mail. If at any time the Mortgagor shall tender to the Morigagee, in accordance with the provisions of the note secured hereby, fall payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall, in computing the amaant of such indebtedness, credit to the account of the Mortgagor any credit balance acwatulated under the precisions of {¢) of paragraph 2 hereof. If there shall be a default under any of the provisions of this mortgage resulting is a public sale of the premises covered hereby, or if the Mortgagee aaiuires the property otherwise after default, the 3ortgagee, as trustee, shall apply, at the tirLe of the commencement of such proceedings, or at the time the property is otherwise acquired, the amount then remaining to credit the Mortgagor under {¢) of paragraph 2 preceding, as a credit on the interest ac~rved and unpaid and the t~ilan~ to the principal thr-a retaaiaiag unpaid an said note. 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- sion of the time of payment of the indebtedness or any part thereof secured hereby. 5. Se~t11-.pay all ground rents, taxes, assessments, water rates, and other governmental or munici- pal ahargss,-fines, or impositions, tev~ied upon said premises and that he will pay all taxes Levied upon this mortgage, or the debt securedhereby, together with any other Lazes or assessments which may be levied under the laws of Nebraska against the Mortgagee, or the legal holder of said principal note, on account of this indebtedness, except when payment for all such items has theretofore been made under (a) of para- graph 2 hereof, and he will promptly detivar the official receipts therefor to the lfartgagee. In default thereof the Mortgagee may pay the same.