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SI--t~(i~ 88~
<br />TQ F3AVa AND'I'G Hot.a the same unto the Mortgagee, as herein urovided. Mortgagor represents to,
<br />and eoverant$ with, the Mortgagee, that the Mortgagar has gaxi right to sell and convey said premises;
<br />that they are free Pram encumbrance, except as hereinotherwise trciti?d ;that the Mortgagor will warrant
<br />and defend thL same. against the lasi•ful claims of all persons whamsaever. i4lnrtgagor hereby reiinquishea
<br />alt rights of homestead, all marital rights, either in law ar in equity, and all other contingent interests of
<br />the Yt¢ortgagor in and to the above-described ptemises.
<br />tl~ ~t=VltAsYS, attd these presents are executed and delivered upon the fallowing conditions, t0
<br />wit:
<br />Mortgagor agrees to pay to the Mortgagee, or seder, the aforesaid principal sum with interest from date
<br />~ ~ y~te of 12.375 per centtun (12.3Yc5J per annum on the unpaid tralance until paid.
<br />The said princtpal and interest shall Fee payable at the office off commercial National Bank & Trust Co.
<br />in brand island , tebraska , or at suclx other place as the holder of the note tray designate in
<br />writing delivered or tnaile<l to the Mortgagor, in monthly installments of 5274.97
<br />1?oilars ($ 274.97 }, commencing an the first day of 3une , 19 81, and continuing an
<br />the first day of each manitx thereafter until said note is fully paid, except that, if not sooner paid, the final
<br />paymentvf principal anti interest shall Fee due and payable on the first day of May, 2011 ;all
<br />acoarding to the terms of a certain pramissat•y note of even date het•ewith executed by the said Mortgagar.
<br />The Mortgagor further agrees:
<br />L He will pay the indebtedness, as herrintrefure provided. Privilege is reserved to prepay at any
<br />time, without premium or fee=. the .entire indebtednness t,r an}~ F,art thereof not less than the amount of one
<br />instiallment, 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 until
<br />the next following installment due date oc 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 term of the note secured hereby, Mortgagar suit] pay to Mortgagee, as trustee, (under the terms of this
<br />trust as ltt+seinaft€r stateed) an the first day of each month until said note is fully paid:
<br />(..) a aA.n ~,,,,,t r:, rho vracznd rents, it any, nest due, plus the premiums that will next become due
<br />and payable c,n policies of lire and other hazard insurance coveting the mortgaged property,
<br />cilus taxes anxl asae,~sntents next r'tue nn the mortgaged prcpcrt}- {all as estimated by the Mort-
<br />gagee. and of ?chich the Mortgagar is avhfiedF less aft sums already paid therefor divided by
<br />the rwmlrer of months to elapse before one month ;rrior ±o the date when such ground rents,
<br />pt~miums, taxes anal :csessments will l,yxonxe. delinquent, +uch sums to be held by Mortgagee
<br />in tntet to pay t«aid grotmd rents, premiums, taxes and special assessments.
<br />(b) The aggragat£^ of the amounts paya*~le pursuant tc, =ubparak-raph {¢} and those rrayab[e on the
<br />Hate secarevi lcereby°, shat! trc Frail in a singly: pad meat each month, to he applied to the fotlow-
<br />ing items lathe order stated: '
<br />{t} ground rents. 2axcs, axeeswmeak~, ttre and other hazard insurance premiutne;
<br />(tt 1 inter. st on the txote secured hereby ; amt
<br />1ittJ amortization t,f the principal of +aid mate.
<br />Any deficiency i^ the arn„ant ,:f :cut, such aggregatt• monthly payment shall. unless made good
<br />by the 9tortgagar prior to the due elate of the next such payment, constitute an avant of default
<br />antler this mortgage. At :~tartgagee's option, Mortgagar wilt pay a "late rharge" not exceed-
<br />ing four per a~ntam {.; ~~ } of ar,3• Install nxent n•hen paid mare than fifteen (ib) days after the
<br />due date thereof to carer the extra espenae invataed in handling deiitiquent payments, but such
<br />"late charge" shall Hat be payable out of the pracee~tls of any sale made to satisfy the indebted-
<br />ness seeur•ed lxerelsy, unless such prti,ceeds are sttifilcient to discharge the entire indebtedness and
<br />all proper casts and expenses secured thereby.
<br />$. 1f the tt~al of the paymetttas trtade by the Mortgagor under (a) of paragraph 2 preceding shall
<br />etaceed the amount of payments tutittatiy made by the Mortgagee, as tt•uatee, for ground rents, taxes and
<br />to ar insurance premiuttta, as tt:e case may be, such exeesa shall Fee credited by the Mortgagee
<br />on ~t pinta ttt be made bl' the Mortgagor far such items or, at Mortgagee's option, as trustee,
<br />aitaii be refunded to Mortgagar. If, however, such monthly payments shall not be sufficient to pay such
<br />its wh+ett ttte seats sha3t beeotae due and payable. then the Mortgagar shat! pay to the Mortgagee, as
<br />trustee, any amount necessary to make up the deficiency within thirty (3fl) days after written notice from
<br />tint 7iEoartaastee statittg the atnttnnt of the defueiency, which notice may be given by mail. If at any time
<br />the 3tort;agor shall feeder to the l4tartgager, in accordance with the provisions of the note secured
<br />hat+eby, ftt~ payment of the entire irtdebtetlneas represented thereby, the Mortgagee, as trustee, shall,
<br />in cawtpetti~ the amount of such indebtedness, credit to the account of the Mortgagar any credit tralance
<br />mated utader the pravisiena of ta) of paragraph 2 hereof. If there shall I,e a default under ant
<br />of tftee provisions tsf t#tls rtaurtgage rrautting is a public sale of the premises hovered 'Hereby, or if the
<br />tae sa~titres the property otherwise after default. the Mortgagee, as trustee, shall apply, at the
<br />kftsts t~ ttss nt o€ sur.h proeeetiitiAs, or at the time the property is otherwise acquired, the
<br />steassrst t%t tntrtg Ee credi# the 1`dortgagar under (tt) of paragraph 2 preceding, as a credit on the
<br />ice; sect a,~i unpaid at}d the 6alanrx to the principal then rema;ning unpaid an said Hots.,
<br />d. `!`)~ iJ~n rtf thim instrument shall remain in Full farce and effect during any postponement ar exten-
<br />ui the of payment atf the ittdebtedt~ea ar any part tktereof secured heretry.
<br />",, I[le ~ pRy al{ tad rents, taxes, assessments, water rates, and other governmental ar munici-
<br />ptt . firtea~ or iirept~rittona, levied upgtt saki premises and that he will pay all taxes levied upon this
<br />tn.,r#;~4, err dF~ tlet~ selru~al thereby, tapstker +vltt- any other t~ttt~ ar xsseasments wtticlt may be levied
<br />ruder t#}e Fatst~#t f31>racttaagaittstths ld#rtga, ar the te.'tptl holder of said principal nat. on account of
<br />1t =s~.eit ~rhett psytn+3xiL for alF exuch items has therrtirfare ireen made under (aJ of para-
<br />~ ~ t~rso~', and ha will prt+mtptly:.tellveir-the crftteluti r~eipts t,`hrrefor to #!ts Mort, In tlefauit
<br />tlt~atf the 34ortii tnay l~ty the sartto.
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