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<br />~.~ ~' Second ttortgag!e
<br />(~~~~~~~s:;.~i1 ~ for
<br />Section 235 Cases
<br />With Addersdun, for Repayment of Section 235 Assistance ~ ! ~-~
<br />81-- v+~5069
<br />THIS MORTG11f,E, made and executed this znd day of October A.D.
<br />lg 81 , by and between Aarold V. Zessin and Arlene M. Zes~in, Husband and Wife
<br />of the County of xail and State of Nebraska, party of the first" part
<br />hereinafter called the Mortgagor and the Secretary of the Department of Housing and
<br />urban Development `
<br />party of the second part, hereinafter called the Mortgagee.
<br />I•tITNESSETH: That the said Mortgagor, is justly indebted to the Mortgagee in the
<br />principal Sum Of One hundred eight thousand and No/100ths------- Dollars ~~ 08,000.x0
<br />which principal sum will not exceed an amount computed under the terms of the Note
<br />executed by said Mortgagor on October 2, 1981 with interest, in
<br />accordance with said Note. That as security for said Note the ttortgagor does by these
<br />presents Grant, Qar9ain, Sell, Canvey and Confirm unto the tortgagee, its successors and
<br />assigns the following described real estate situated in the County of xali
<br />State of Nebraska, to wit Lot Eight (8), in Block R1~o (2), in Evan's a ion to t e
<br />City of Grand Island, xall County, Nebraska
<br />TO HAVE AND TD HQLD the premises above described, with all the appurtenances
<br />thereunto belonging and including all heating, plumbing and lighting fixtures and equip-
<br />ment now or hereafter attached to or used in connection with said real estate unto the
<br />Mortgagee, and to its successors and assigns, forever. The fortgagor represents to, and
<br />covenants with, the "tartgagee, that the Mortgagor has goad right to sell and convey said
<br />premises; that they are feee from encumbrance, except for an FHA first mortgage; and that
<br />the t=tortgagor will ~•~arrant and defend the same against the lawful claims of all persons
<br />whomsoever; and Lhe said Mortgagor hereby relinquishes alt rights of homestead, and all
<br />marital rights, either in law or in equity, and all other contingent interests of the
<br />ttortgagor in and to the above-described premises, the intention being to convey hereby an
<br />absolute title, in fee simple, including all rights of homestead, and other rights and
<br />interests as aforesaid.
<br />PROVIDED AL~iAYS. and these presents are executed and delivered upon the fol~owing
<br />conditions, to •,•rit:
<br />The ttortgagor agrees to pay to the Mortgagee, or order, the principal sum of~e
<br />hundred eight thousand and NollOxths----=------°-- Dollars (~ 1x8.xoo.x0
<br />with interest as provided in the Note dated October 2, 1981 and executed by ttort~aaar
<br />The Mortgagor in order nx~re full-, to protect the security of this tiortgage, agrees:
<br />i. That he will pay the indebtedness, as hereinbefore provided. Privilege is
<br />reserved to pay the debt in whofie, ar in an amount equal to one or more monthly payments
<br />on the principal that are next due on the note, on the first day of any month prior to
<br />maturity: Provided, however, That written notice of an intention to exercise such arivilege
<br />is given at least thirty (30) days prior to prepayment. .
<br />2. That the.Mortgagor will pay ground rents, taxes, assessments, water rates, and
<br />other governmental or municipal charges, fines, or impositions, for which provision has
<br />not been made hereinbefore, and in default thereof the Mortgagee nwy pay the same; and that
<br />the Mortgagor will promptly deliver the official receipts Lherefor.to the Mortgagee.
<br />3. The ttortgagor will pay all taxes which may be levied upon the Mortgagee's
<br />interest in said real estate and improvements, and which may be levied upon this mortgage
<br />or the debt secured hereby (but only to the extent that such is not prohibited by law and
<br />only to the extent that such will not make this loan usurious): but excluding any income
<br />tax, State or Federal, imposed on Mbrtgagee, and will file the official receipt showing
<br />such payment with the tortgagee, upon vi elation of this undertaking, ar if the Mortgagor
<br />is prohibited by any law now or hereafter existing from paying the w4ole or any portion of
<br />the aforesaid taxes, ar upon the rendering of any court decree lrrohibiting the payment by
<br />the 61orEgagor or any such taxes, ar if such law or decree provides that any anwunt so paid
<br />Lhe Mortgagor shall be credited on the nx~rtgage debt, the Mortgagee shall have the rinht to
<br />give ninety days' writter- notice to the owner of the mortgaged premises, requiring the
<br />payment of the mortgage debt. If such nptiee be given, the said debt shall become due.
<br />payable and collectible at the expiration of said ninety days.
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