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<br />To Ilnvi; ,~rzn To horn the same unto the biortgagea, as herein pravfded. Mortgagor represents ta,
<br />and covenants with, the Mortgagee, that the Mortgagor has gxid right to sell and convey said premises;
<br />that they are free from encumbrance, except as hereinotherwise rer_ited; that the Mortgagorwiil warrant
<br />and defend the same against the lawful claims of al} persons whomsoever, Mortgagor hereby reIingnishes
<br />all rights of homestead, all marital rights, either in law or in equity, and all other contingent interests of
<br />the Mortgagor in and to the above-described premises.
<br />hROVIDEIr ALWAYS, and these presents are executed and delivered upon the following crsnditiona; to
<br />w}t:
<br />Mortgagor agrees to pay tc the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of Ten and one half per centum (lo. 5;0 } per annum on the unpaid balance until paid
<br />The said principal and interest shall be payable at tite otfice of ?mortgage Plus Incorporated
<br />in Englewood, =olorado , cr at such other place as the holder of t}te note may designate in
<br />writing delivered or mailed to the Mortgagor, in monthly installments of Four xundred Twenty Nine. and 59/
<br />looths Dollars ($ 429.59 ), commencing on the first day of September , 19 SO ,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 due and payable on the first day of August 2010 ;all
<br />according to the terms of a certain promissory ncte of even date herewith executed by the said Mortgagor.
<br />The Mortgagor further agrees:
<br />1. He will pay the indebtedness, as hereinbefm•e provided. Privilege is reserved to prepay at any
<br />time, without premium m• fee, the entix•e indebtedness or any part thereof not less than the amount of one
<br />installment, ar 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 unlit
<br />the next following installment due date or thirty days after such prepayment, whichever is eazlier.
<br />2. Together with, and in addition to, ±he 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 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 equal to the ground rents, if any, next due, plus the premiums that cviI} next become due
<br />and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next clue on ttie mortgaged property (all as estimated by the Mort-
<br />gagee, and of ~t hiclt the Mortgagor is notified) less ail sums already paid therefor divided by
<br />the number of months to elapse before one month prior to the date when such ground rents,
<br />premiums, taxes and assessments will 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} granrd rots, taxes, assessments. .ire anti other hazard insurance premiums;
<br />(tr} interest on the note secured hereb~• ;and
<br />(nt} amortization of the principal of said pate.
<br />any deficiency in the antnunt of an}° sac}t aggregate monthly payment shall, unless made good
<br />by the Mortgagor prior to 'the due data of the next such payment, constitute an event of defan}t
<br />under this mortgage. At ~lartgagee's option, :Mortgagor will pay a "late charge" not exceed-
<br />ing four per centum (1 Vic) of any install meat when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra expense invoh•ed in handlingdelinquent payments, 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, milers such proceeds are sutEcieut to discharge the entire indebtedness and
<br />all proper costs and expenses secured 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 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 6e sufficient to pay such
<br />items when rho same shall become duo and payable, then the Mortgagor shall pay to the Morn :zgee, as
<br />trustee, any amount necessary to make up the deficienc,p within thirty= (30) days after written notice from
<br />the Mortgagee stating the amount of the deficiency, +vhich notice may be given by mail If at any time
<br />the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured
<br />hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br />in computing the amount of such indebtedness, ct•edit tct the account of the Mortgagor any credit balance
<br />accumulated under the provisions of (a) of paragraph 2 hereof. It there shall be a default under any
<br />of the provisions of this mortgage resulting in a public sale of Che premises covered hereby, or if the
<br />Mortgagee acquires the property otherwise after default, the :Ylortgagee, as trustc~, 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 ::relit t}te Mortgagor under (a) of paragraph 'L preceding, as a credit on the
<br />interest accrued and unpaid and the balance to the principal then remaining unpaid nn said note-
<br />4, The lien of this instrument shall remain in full force and effect during any postponement or exten-
<br />sion of the time of payment of the indebtedness or any part thereof secured hereby.
<br />5. Ile will pay all gramci 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 alt taxes levied upon this
<br />mortgage, or the debt secured thee-eby, together with any other taxes 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 pat•a-
<br />graph 2 hereof, and he will promptly deliver the official receipts therefot• to the Mortgagee. In default
<br />thereof the Mortgagee may pay the same.
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