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III-- ~}01169
<br />TO HAVE AND Ta Ha1.D the same onto the Mortgaged, as herein provided. Mortgagor represents to,
<br />and covenants with, the Mortgagee. that the Mortgagor has good right to sell and convey said premises;
<br />that they are free from encumbrance, except as hereinotherwise recited ;that the Mortgagor will warrant
<br />gnd ddf~nd the same against t-sd lawful claims of all persons whomsoever. Mortgagor hereby relingnishea
<br />all rights of hottteatead, all marital rights, dither in law or in equity, and all other contingent interests of
<br />tlis M~ga$ttrtri and te> the shave-descr#-Y.,d prdrn~es.
<br />!DVS A~I4dYS, and thesd presents are executed and delivered upon the following tronditions, to
<br />wit:
<br />Mortgsgar agrees to pay to the Mortgaged, or order, the aforesaid principal sum with interest from date
<br />~~ th8 rat$ of '1S7FL?~ and 37511 tt00 per centutn t<2.?~) per annum on the unpaid balance until paida
<br />That said principal and interest shall be payable at the offrce of Commercial Federal SAvines 6 Loan
<br />~ Amaha, '.debraska , or at such other place as the balder of the note tray designate in
<br />writing delivered or mailed to the Mortgagor, in monthly installments of THREE ??ll~tnRF'D SEVENTEEN
<br />Dollars {~ 317.2 7 },commencing on the first day of .`lay ,18 £llattd continuing on
<br />t' a 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 Ap ri 1, 7l} 11 ;all
<br />aceatrding to flee terms of a certain promissory note of even date herewith executed by the said Mortgagor.
<br />The Mortgagor further agrees:
<br />1. He will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />time, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one
<br />installm~tt, or one hundred dallsts (100.00}, whichever is less. Prepayment in full shall be cr~it~ed on
<br />the date received. Partial prepaytent, other than on an installment due date, need not be credited until
<br />the nezt following installment due data or thirty days after such prepayment, whichever is earlier.
<br />2 Tatgether with, and in addition to, the monthly payments of principal and interest payable under
<br />t~ta! tert+na of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (under the terms of this
<br />trust as itdrdi*sitar stated) an the first day of each month until said note is fully paid:
<br />(m) A sum aqua! to the ground rents, if any, next due, plus the premiums that will next become due
<br />and payable on policies of fire and ether hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next due on the mortgaged property (all as estimatdd by the Mort-
<br />gagee, and of which the Mortgagor is notified) less all sums already paid therefor divided by
<br />the number of monttes to elapse before one month prior to the date when such ground rents,
<br />premiums, taxes and assessments +ritl become deiinc;uent, such sums to be held by Mortgagee
<br />in trust to pay said groundrents, premiums, taxes and special assessments.
<br />(b} Thd aggregate of the amounts payable pursuant to subparagraph {a) and those payable on the
<br />not$ secured herdby, shall be paid in a single payment each month, to be applied to the follow-
<br />iag items ittthe orderstated:
<br />(t) ground rents, taxes, sssPssments, fire and other hazard insurance premiums;
<br />(it} interest on the Hate secured hereby :and
<br />{tit) amartizatiott of the principal of said note.
<br />Any deftciene}• in the amount oI arc suelt aggregate monthly payment shall, unless made good
<br />by the ~tortuagor prior to the due date of the next such pay ment, constitute an event of default
<br />urddr this mortgage. At Mortgagee's option, tilorigagor will pay a ..late chargd" not exceed-
<br />ing four per eentum (4~) of any installment u-hen paid more than fifteen {15} days after the
<br />due date thereof ±o cover the extra. expcuse incotved in handling delinquent payments, but such
<br />"late charge" shall Hat be payable out of the proceeds of any sale made to satisfy the indebted-
<br />ttess secured hereby, unless such proceeas are sufficient to discharge the entird indebtedness and
<br />aiI proper costs and expenses secured thereby.
<br />$, If t2te tats! of the payments trade by the Mortgagor under (a} of paragraph 2 preceding shalt
<br />exosdsl the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and
<br />asaeeamenta 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 Martgagar. If, however, such monthly payments shall not be sufllcieat to pay such
<br />items whttn the; same shall become due and payable, then the Mortgagor shall gay to the Martgag~, as
<br />trustee, any amount necessary to tteake up the ddficiency within thirty (80) days after written notice from
<br />the ]Mortgagee stating the amount of the deficiency, winch notice may be given by mail. If at any time
<br />t3ae iMort~agor shall tender to the Mortgagee, in at:curdance with the provisions of the note secured
<br />bi3y, full payment of the entire indebtedness represented thereby, the Mtrtgagee, as trusted, shall,
<br />in compttttng the amount of such indadttednesa, credit to the account of the Mortgagor arty credit balance
<br />aocumuiated under the proviaiona of (a) of paragraph 2 hereof. If there shall be a default under any
<br />of the pravssians of this age resulting in s public sail of the premises covered hereby, or if the
<br />sequir~ the property otherwise after default, the 3ortgagee, as trustee, shall apply, at the
<br />tits of the commetteemettt of such proceedings, ar at the titre the property is otherwise acquired, the
<br />a3l~t3ttt thE1t riaittg to credit the Mortgagor under (a} of paragraph 2 preceding, es a credit on the
<br />tat aea:rued and uapsid and the txalance to the prsttcipal rhea retraining unpaid on said Hate.
<br />4 Tlw liar of this inatrumdnt shall remain in fu 11 forcd and effect during any postponement or exten-
<br />sion of the time of pwyttsettt of the indebtedness or any part thereof secured hdrekty.
<br />b. will gay all grouted rents, taxes,. aaseaatteents, water rates, and other gavdrntaental or munici-
<br />flnca- or impoaitians, levied upon said pretniaes and that he will pay all taxes levied upon this
<br />ett^ the debt secured thereby, togetl`~r wi?h arty outer taxes or as~sstttents which may be levied
<br />utu#tr tJielawaof~Iasbraakaag;tinstt;+tart~r;ge2,ar the Itgal balder of said principal note, on aceaunt of
<br />t1a#ic itt~bt g#. °hen psytnettt for all such itettta has theretofore beet: made under la) of para-
<br />y{r&ph Yhereof, and he wall promptly ddliva*r the atl~isl rtsceipts therefor to thN bicsrtgsged. in dmfeult
<br />th+crttof fire ltortgag may pay the asarv~,
<br />Assoc.
<br />and 27/i0I
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