|
<br />'I"o Rnv4~~ irrv 'I`c) 1{ttL.~n~ tho .~ta'dnc: nntc> the Mortgags:~e a.a lat~=,~r~•rir. t;rt,trs=icla,d. 1ii'artgagrr~t• er.l',rrt~scrtu,ts ta,
<br />and c:ovenan:ris with, than Alcurtg,ty,,r"o, that eitc:r 1t'iortgrtgor lta.z g~~or9. right to ssrll ;and onvo,,,lr ;saitl , :•nmi~>r,rs;
<br />that they are free from encumbrance, except as hereinotherxise recited; that the Mortgagor ss-ili warrant
<br />and defend the same against the lawful claims of atl persons •s homsaevet•. itloe•tgagor hereby relinquishes
<br />all rights of homestead, all marital rights, either in law- or in equity, and ail other contingent interests of
<br />the Mortgagor in and to the above-described premises.
<br />P~OVIDEB A[hvAYS, 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 scith interest from date
<br />at the rate of Ten and One Half per centum (L0, 5!.b) per annum on the unnaid 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 holder of the note may designate in
<br />writirg delivered or mailed to the Mortgagor, in monthly installments of Five Hundred Eightg Four
<br />69/100tl~gllars ($ 584.69 ), commencing on the first day of November ,19 79, and continuing an
<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 due and payable on the first day of October 2009 ;all
<br />according to the terms of a certain promissory note of even date herewith executed by the said i4lortgagor.
<br />The Mortgagot• further agrees:
<br />1. He will pay the indebtedness, as hereinhefin•c~ provided. Privilege is reserved to prepay at ane~
<br />time, without premium ar fee, the entire indebtedness or any part thereof not toss 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.
<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 &iortgagee, :ts trustee, (under the terms of this
<br />trust as hereinafter stated) on ttie 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 other hazard insw•an„e covering the mortgaged property,
<br />plus taxes and assessments next due ou the mortgaged property (all as estimated by thelfort-
<br />gagee, and of ss-hich the Mortgagor is notitierll less al] sums already paid therefor divided by
<br />the number oi' months to elapse before one month prior to the elate when such ground rents.
<br />premiums, taxes and assessments sciii become delinquent, such sums to be held by Mortgagee
<br />in trust tc pap said gt•ound rents, premiums, taxes and special assessments.
<br />(b) The aggregate of the amounts payable pursuant to subparagraph (a) and those Fayable on the
<br />note secured hereby, shall be paid in a single payment each month, to be applied to the follosv-
<br />ingitems inthe order stated
<br />{t) ground rents, taxes, assessments, lire and other hazard insurance premiums;
<br />(tt) interest on the note secured hereby; and
<br />(tII) amortization of the principal of said note.
<br />Any drtieieucp in the anx.,unt of any such aggrogate monthly payment shall, unless made good
<br />by the :1[ortgagm• prior to the due date of the nest such paymcnG, e•onstitute an event of default
<br />under this mortgage. At liarttagcr:"s option, Mortgagor will pay a 'late charge" Hat exceed-
<br />ing four por cl~lttum (.1~-) of any install tuant ~t~hen paid mare than fifteen (25) days after the
<br />nt" 4rA t.' it4t [c•ial •. [J i'ieYf•r tli{: C•Yt e'f i t
<br />d a"`' "-_~."- •• `- ~- e e..pc~nsi irvolvee. itt itan:tlittgdelir.quetat pt,yment3, }"iutsucl'i
<br />.`late citarg.~" shztll Hat be payable ant af• ttte pre3eeeds of any sale. made to satisfy-the; indebted-
<br />ness secured ircreby, unless such proceeds are suffcient to discharge the entire indebtedness and
<br />all pruper costs and expenses secw•cd thereby.
<br />3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall
<br />exceed the amount of payments actually made by the b3artgagee, 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 Martgagor for such items or, at Mortgagee's option, as trustee,
<br />shall be refunded to 1liortgagor. If, however, such monthly payments shall not be sufficient to pay such
<br />items when the same shall became due and payable, then the Martgagor shat! pay to the M<n•tgagee, as
<br />trustee, any amount necessary txt make up the deficiency within thirty (30) days 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 aecordzince with 'the provisions of the Hate secured
<br />hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, ag trustee, shall,
<br />in computing the amount of such indebtedness, credit tti the account of the Mortgagor any credit balance
<br />accumulated under the provisions of (a) of paragraph 2 hc~reof• If there shall be a default under any
<br />of the pravisiotis of this mortgage resulting in a public sale of the premises caverecl hereby, or if the
<br />Mortgagee acquires the property otherwise after default, the Jortgagee, 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 2 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 ar exten-
<br />sion of the time of payment of the indebtedness or any part thereof secured hereby.
<br />b. Het will pay all ground rents, taxes, assessments, water rates, and other governmental cr munici-
<br />pal charges, fines, or impositions, levied upon said premise3 and that he will pay all taxes levied upon this
<br />mortgage, or the debt secured thereby, together with any other t<•ixes or assessments which may be levied
<br />under the laws of ?Nebraska against the Mortgagee, or the Legal holder of said principal note, on account of
<br />this indebtedness, except when payment for all such items has theretofore been made under (a} of para-
<br />graph 2 ticreof, and rte sviti promptly deliver the otitcial receipts therefor to t!.~ iLlortgagee. Ir. default
<br />thereof the Mortgagee may pay the same.
<br />
|