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<br /> '' � 76- p052 � 0
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<br /> � A. To procure, deliver to , and maintain for the benefit of the mortgagee
<br /> , during the 11fe of . this mortgage ; original policies and renewals thereof , �
<br /> delivered at least ten (10) days before the expiration of an auch �
<br /> ` ' insuring against fire and other insurable hazards , casualtiea and continiea ,
<br /> gencies as the mortgagee may require , in an amount equal to the loan halance
<br /> or for not leas than 80% of the full replacement value of the improvements ,
<br /> whichever ia greater , as established by a competent insurance appraiser .
<br /> ; The policy is to contain a mortgage (loss payable) clause in favor of
<br /> ` First FederaL Comprehensive general public liability insurance will
<br /> ` also be obtained , in a company acceptable to First Federal , for an
<br /> amount not less than $100 , 000 for any one person , $ 300 , 000 for any eingle
<br /> accident , or $ 100 , 000 for property damage from claims arising from any
<br /> ; accident or occurrence in or upon the subject property . Busineas interruption
<br /> � insurance equal to 50% of the businesa interruption value , as established
<br /> % by a competenC insurance appraiser , shall also be carried throughout the
<br /> , term of the loan . In the event any policy is not renewed on or before
<br /> ' i ten days of its expiration , the rfort a ee ma
<br /> E g y procure insurance on the
<br /> i.mprovements , pay the premium therefor , and such sum shall become
<br /> ; immediately due and payable with interest at the rate set forth in said
<br /> ° ` note until paid and shall be secured by this mortgage . Failure on the
<br /> ;. part of the Mortgagor to furnish such renewals as are herein required or
<br /> � failure to pay any sums advanced hereunder shall , at the option of the -
<br /> ! Mortgagee , constitute a default under the terms of this mortgage . The
<br /> ` ; delivery of such policies shall , in the event of default , constitute an
<br /> ; , ; assignment of the unearned premium.
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<br /> ' ; B . The property is to be operated under the True Value name , utilizing the
<br /> � _ . True Value distribution system as set forth in that agreement with
<br /> Cotter and Company , dated April 2 , 1976 . Should the property at any
<br /> ^ time during the term of the loan cease to be operated under and in
<br /> ` accordance with the True Value name , as required by Cotter and Co�pauy ,
<br /> � ' the mortgagee , at its sole option , may declare the balance of the loan
<br /> to be due and payable .
<br /> C . The mortgagor shall furnish to the mortgagee , within ninety days after
<br /> the end of each fiscal year , a certified annual statement , relative
<br /> to the operation of the property . This statement shall show all income
<br /> and expenses of the operation of the property .
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<br /> A _ _ and recorded in Book. ...... ..... . . . . . .of �tortgagcs at page. _ . .. . . . : . . . . . .. . . . ns lnstrumenc i�u.. .: _ : _ . . .. . _ .. . ....
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<br /> . _ Ite�;. nf Deeds e+ ,:'
<br /> � By. . . . . . . .. .. .. . . .. . . . . . . . . . . . .. . . . . . . . . . . . . . . . ........DeputY � .. ,,: '
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<br /> u/hen rrcorded ro bc returned ro dic �
<br /> FIRST FEDERAL SAVINGS AND LOAIV ASSOCIATION OF LINCOLN M •
<br />� �� � ❑ 1235 "N" SirCel ❑ 8i06 P�cAiC St. ❑ 21 ?li f �is! Avcnur
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<br /> .� 135 No. Cotner Blvd. ❑ 'LI01 So. 47nA St.
<br />"� ' . � ❑ 70th and .,A' . Street U :.'015 h7n, <�Olh 5t.
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<br />� � LINCOLN O�dAHA KE:AI; NFY' �
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