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~~_~~ -2- to be applied to the following items in the order stated: (i) taxes, assessments, fire and other hazard insurance premiums; (ii) interest on theanote secured hereby; and, (iii) amortization of the principal of. said note. Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Mortgagors prior to the 16th of each month, con- stitute an event of default under this Mortgage. At First Denver Mortgage Co.'s option, Mortgagors will pay a "late charge" not exceeding four per centum (4%) of any installment when paid more than fifteen (I5) days after the due date thereof to cover the extra expense involved in handling delin- quent payments, but such "late charge" shall not be payable out of the proceeds of ary sale made to satisfy the indebtedness sec~~red hereby, unless such proceeds are sufficient to discharge the entire in- debtedness and all proper casts and expenses secured thereby. 3. Payment of all principal and interest together with 1/12 of the premiums for insurance and 1/12 of the real estate taxes shall be paid to Mortgagees' credit at the offices of First Denver Mortgage Company, P. 0. Box 5341, Dem~er, Colorado 80217. 4. In the event Mortgagors convey the premises, the execution of said deed of conveyance shall cause the entire remaining unpaid principal balance of this Mortgage, plus any unpaid interest, to become due and payable at once. S. In the event of default or the failure to pay any of said money, either principal or interest, ar a failure to comply with any of the foregoing agreements shall cause the whole sum of money here- in secured to become due ar_d collectible at once at the option of the Mortgagees. Dated this 23rd day of June, 1980. Henrv Sfihne J ~l a~~~ Che'r~ Schnell State of 23ebrasks ) ~'ounty of Hall ) The foregoing instrument was acknowledged before me this ~ -~ day of June, 1980, by Henry Schnell and Cheri Schnell, husband and wife, for the pu poses therein stated. ,rj`~ aws ~ aiwrs it.~Q.l~~ '~.-~ ~-~ ` ~c-G~ ~L_ wa's~~'r'~~~ Notary Public Piy commission expires ~ y2~'-:';4° -'r-- "