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TO Hnvs nxn To HOLD the same unto the 3ortgagee, as herein provided. Mortgagor represents to,
<br />and covenants with, the .~,Iortgagee, that the Mortgagor has good right to seH and convey said premises;
<br />That they- are free from encumbrance, except as hex•einotherwise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby reiinquishea
<br />all rights of homestead, all marital rights, either in law ar in equity, and all other contingent interests of
<br />the Mox*gagar in and to the above-described premises.
<br />PROVIDED Atwnvs, and these presents are executed and delivered upon the following conditions, to
<br />wit:
<br />lIortgagor agrees to pay to life Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of Eleven and one half pex• centunx {ll . 5;:'b) 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 holder of the note may designate in
<br />writing delivered or mai]ed to the lIortgagor, in monthly installments of Three Hundred Thirty One
<br />99/100t}i$ollars {$ 331.99 ),commencing on the first day of September , 19 80 ,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 shad be due and pavable on the first day of August 2010 ;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. Fle gill pay the indebtedness, as hereiubefore provided. Privilege is reserved to prepay at any
<br />time, without premium ot• r~,t~, thn c,trtire indeb±edress or ana part thereof not less±har, 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 an an installment due date, ^~ed 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 Hate soured hereby, bim•tgagor will pay to Mortgagee, as trustee, (under the terms of this
<br />trust as hereinafter stated) on the first day of each month until said note is fully paid:
<br />{a) A sum c-quit 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 insurance covering the mortgaged property,
<br />pins taxes and assessments next due on the mortgaged property (all as estimated by the Mort-
<br />gagees and o(~~: bleb the Mortgagor is notitic•d) toss all sums already paid therefor divided by
<br />the number of months to elapse before one month prior La the date when such ground rents,
<br />premiums, taxes and assessments «~ill br~cume delinquent, such sums to be held by Mortgagee
<br />in trust to pa~• said ground_rents-, premiums, cases and special assessments.
<br />(e } The ,rggr-egate of the zuuouuts payable pursuant to subparagraph (a) and those payable on the
<br />tote secured hrr~ b}~, ,hall bF= p,ii+i in a ?fnt;i~• pal~n:ent eac•i? utenth. to be apphzd to the follow-
<br />ing itetna ur the order stated:
<br />I tt gr•<nnul rents, taxes, assrsmrats, tier ar::t ~ahet• ha>>-ard insurance pr?n?um~•
<br />1[t! inter,-stun therotosecurcdhor!•hy;aid
<br />([iij .unur[izatiun of ihv principal ut sari nc+te~,
<br />-.- ,u_ -~ u ~ - in t__ ;~nt~,ur,; „i ;urn Burn a -4•g:rq,• t,tun+t,i;, ~,ay m:^.tl shal4 unless m4d~ g~at3
<br />t v [h \I :.~a~ ,: r 4!et• t - tt=e due ~ st. .;t ,h~ ± •u, k ~ e :
<br />- ~ p - - -~-yment, u.n~tihatt axe eaent a~ defa;;=t
<br />under tBis ruurtgaigc. ~At llortgngce•s option, lh,rt~;agor :vill pay a "late charge" not exceed-
<br />ing four per avuum (I'-) of an~~ install numt ritu•n paid more than fifteen (15) days ufterthe
<br />due dah~ ther~~oC to co~~er the extra expense ineul~'ed in bundling delinquent payments, but such
<br />"late charge" shall nut be pa}~ablr out uC the procov~ls of any sale made to satisfy the indebted-
<br />ness secured hereby, uuluss such prucer~ls .u'u suRicieut to discharge thu entire indebtedness and
<br />all proper cwts and oxpcnses secured iherrby-
<br />3. If the total of the payments made by the Mortgagor under (a) of paragraph '?. pt~uading shall
<br />exceed the amount of payments actually made by the Mortgagee, as truster, for ground rents, taxes and
<br />assessments or insurance premiums, as the case may Ix, such excess shall be credited by the Mortgagee
<br />on subsequent payments to bo made by the lIm•tgagur for such itemv or, at Mortgagee's option, as trustee,
<br />shall be refunded to Mortgagor. lt, however, such monthly payments shall nut be sutliciont to pay such
<br />items when the same shall become due and hinyabk, then the lIortgagor shall pay to the ilturtgagcvt, as
<br />trustee, any amount necessary to make up the detietrncy w ithin thirty (all) days after written notice from
<br />the Mortgagee stating the amount of the deiicicncy, which notice may be given by mail. If aC atry tithe
<br />the Mortgagor shall tender to the Mortgagee, iu acrord`ancc with the lnrorisinus of the cote secm•ed
<br />hereby, full payment of the entire indebtedness represrnt~~d thereby, fhtr nlort~3gre•, ,~5 trusttre, shall,
<br />in computing the ttrnoant of such imlebtc-dn::.n credit to the ac.uunt of ti:e Mortgagor any credit balance
<br />accumulated under the provisions of lu) of lnseagrapir '.', hereoF. If tbmre shall be a defsutt under fury
<br />of the provisions of t-his mortgngc resulting in a public sale ol• the pt-rtmises covercef hereby, ur if the
<br />Mortgagee acquires the property otherwise after doiault, the Mortgagee, as trustee, shall apply, st Ure
<br />time of the commencement of such proceedings, or at the time the prolnrty is ottu~re•ise acquired, t.hc
<br />amount then remaining to credit the liartgagar under ta) of paragraph 2 preceding, as a credit on the
<br />interest accrued and unpaid and the balance to the principal then remainit~ unpaid on said note.
<br />4. The lien of this instrument shall remain in full three and effect during any pwtpunrurent or exten-
<br />sion of the limo of payment of the indebtedness ur Huy part thereof secured hereby.
<br />5, rte will pay alt ground rents, taxes, assessments, grater rates, curt other guvernmoutal ur munici-
<br />pal charges, fines, ar impositions, levied upon said premises and that he will pac all taxes levied upon this
<br />mortgage, or the debt secured Urereby, together rvit!t any other taxes ur asscsstnents r~ i:icli may be levied
<br />under the laws of 1Vebraskaat;ainstthe,'tlortgageo,or the legit holder of said principal note, on account of
<br />this iudobtedncss, creept r+hen la .yme:a for :ri! such items has theretofore hero made urr+_•: in) of para-
<br />graph'L hereof, and he will promptly deliver the ntticiarl receipts therefor to the ]lotgagee. In defauh
<br />thereof the Mortgagee may pay tha same.
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