81001326 - Laserfiche WebLink

Browse

To HAVE arrn To Horn the same unto the Mortgagee, as herein provided. Mortgagor represents to, and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises; that they t:re free from encumbrance, except as hereinotherwise recited ;that the Mortgagor will warrant and defend the same against the lawful claims of all persons +ahomsoever. Mortgagor hereby relinquishes all rights of homestead, all marital rights, either in law or in equity, and all other contingent interests of the Mortgagor in and tea the above-described premises. P'ROViDED Arwnrs, and these presents are executed and delivered upon the following conditions, to wit: Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date at the rate of 12.375 per centum ft2. 3 Y$) per annum on the unpaid balance until paid. The said principal and interest shall be payable at the office of Commercial National sank ~ Trust Co. in Grand Island, Nebraska , or at such other place as the holder of the note may designate in writing delivered or mailed to the i4ior•tgagor, in monthly installments of Three xundred Thirty Three & 14/ Dollars {$ 333. i4 ), commencing on the first day of April , 19 gl ,and continuing on 100 the first day of each month thereafter until said note is fnlty paid. except that, if not sooner paid, the final payment of principal and interest shall be due and payable on the first day of March, 2011 ;all according to the terms of a certain promissory note of even date here+vith executed by the said Mortgagor. The Mortgagor fm•ther agrees: 1. He will pay the indebtedness, as Irereinbefm•e provided. Privilege is reserved to prepay at any tune, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or one hundred dolL•rrs ($100,00), whichever is less. Prepayment in full shall be credited on the date received. Partial prepayment, other than on an installment due date, need not be credited until the next following installment due date or thirty days after such prepayment, whichever is eazlier. 2. Together with, and in addition to, the monthly paynnents of principal and interest payable under the terms of the note secured hereby, Mortgagor +vill pay to Mc:-'_pagee, as trustee, (under the terms of this trust as hereinafter stated) on the first day of each month until said note is fully paid (¢) A sum equal to the ground rents, if any-, next due, plus the premiums that will next become due and payable on policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mvrtgaged property (all as estimated by the Mort- gagee, and of ~chich the Mortgagor :~ noti5ecl) l;rss ail sums already paid therefor divided by the number of months to elapse b+•for+~ one rnouih prior to the date ++°hen such ground rents, premiums, taxes and assessments +cill barvme delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, premiums, taxes and special assessments. (b) The aggregate of the amounts payable ptu~suaut to subparagraph (a) and those payable on the note secured hereby, shall be paid in a single payment each month, to be applied to the foIIo+v- ing items in tine order stated (t) ground rents, taxes, assessments, fire and other hazat•d insurance premiums; {!I) interest on the notY securers hereby ;and (lIi) amortization of the principal of said note. Any deficiency in the amount of any Such aggregate nronthiy payment shall, unless made good by the Mortgagor prior to the. due date of the next such payment. constitute an event of default under this mvrtgage. At 3tortgxgee's option, 3ortgagor wilt pay a "late charge" not exceed- ing four per centum (4'~) of an_: installment when paid more than fifteen (l5) clays after the due date thereof to cover the exh•a exlx~nse incoh ed in handling delinquent payments, but such "late charge" shall not be payable out of Che proceeds of any sale made to satisfy the indebted- ness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and all proper costs and expenses secured thereby. 3. If the total of the payments made by the Mortgagor under (¢) of paragraph 2 preceding shall exceed the amount of payments actually made by the Mortgagee, as tz•ustee, for ground rents, taxes and assessments or insurance premiums, as the case tray be, such excess shall be credited by the Mortgagee on subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as trustee, shall be refunded tv Mortgagor. If, however, such monthly payments shall not be sufficient to gay such items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as trustee, any amount necessary to make up the deficient:y +rithin thirty (3d) days after+vritten uotice from the Mortgagee stating the amoun± of the deficiency, which notice may be given by mail. If at any time the Mortgagor shall tender to the Mortgagee, in accordance with Eite provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall, in computing the amount of such indebtedness, credit to the account of the Mortgagor any credit balance stxumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the time of the commencement of such proceedings, or at the time tine property is otherwise acquired, the amount then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the interest accrued and unpaid and the balance to the principal then remaining unpaid on said note. 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- sion of fire time of payment of the indebtedness or any part thereof secured hereby. 5. He wilt pay all ground rents, taxes, assessments, water rates, and other governmental or munici- pal charges, fines, or impositions, levied ulwn said premises and that ha will pay all taxes levied upon this mortgage, or the debt sec;ureci thereby, tvgether with any ether taxes yr assessments +vhieh Wray be levied under the laws of \Tebraska against the Mortgagee, or the legal holder of said principal note, on acevunt of this iudrrbttttnesa, except when paymeart fot• all such items has thezetofvre txen made under (a) of para- graph 2 herevf, and he will promptly rkeliver the official receipts therefor to the .+•Iortsragee. Tn default Eheroof rho Mortgagee may pay the same.