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<br />made shall be added to the principal stun owing on the above
<br />note, shall be .wred hereby, and shall bear interest at the rate
<br />set forth in the said note, until paid.
<br />7. That the Mortgagor hereby assigns, transfers and sets over
<br />to the Mortgagee. to be applied toward the payment of the note
<br />and all sums secured hereby in case of a default in the perfor-
<br />martce of any of the terms and conditions of this mortgage or the
<br />said note, all the rents, revenues and income to be derived from
<br />the mortgaged premises during such time as the mortgage in-
<br />debtedness shall remain unpaid, and the Mortgagee shall have
<br />power to appoint any agent or agents it may desire for the pur-
<br />pose of repairing said premises and of renting the same and col-
<br />lecting the rents. revenues and income. and it may pay out of
<br />said incomes all expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the
<br />same and of colledins rentals therefrom; the balance remaining,
<br />if any,, to be speed toward the discharge of said mortgage
<br />Indebtedness.
<br />8. That the Wrtgagor will keep the improvements now ex-
<br />isting or hereafter erected on the mortgaged property, inked as
<br />may. be• required from time to time by the Mortgagee asaaasc LOSS
<br />by fitr, and other hazards. casualties and contingencies( in such
<br />amo=M, and for such periods as may be required by the Nlwrt-
<br />gaXft ZtAd will pay promptly, when due, any premiums an such
<br />itsstu'anee pro�,5oon for payment of which has noe been made
<br />heeeutbeforc. AJl insurance shall be carrkd iA companies ap-
<br />pro�esi;`tiy the 1►1!ortgagee and the policies and renewals thereof
<br />shalt be field by tiie Mortgagee and have attached thereto loss
<br />pbyaD% clauses, is favor of anti in form acceptable to the Mor-
<br />�..e. t., .ventr naT.tos4 )tfortRagor will give immediate notice by
<br />mail to the bforwagee, who may make proof of foss if not made
<br />promptly by WQ.ttgagor. and each insurance company concerned
<br />Is hereby autbvriz di and directed to make payment for such loss
<br />direcgfy to the Ntgrtgagee instead of to the Mortgagor and the
<br />Mortgagee jointly, and the insurance proceeds, or any part
<br />thereof, may be applied by the Mortgagee at its option either to
<br />the reduction'cf the indebtedness hereby secured or to the
<br />restoration or.trair of the property damaged In event of
<br />foreclosure of this mortgage or other transfer of title. ton the mor-
<br />tgaged property in extinguishment of the indebtedness secured
<br />hereby, all right, title and interest of the Ltti1QMS28or' ice;=d to
<br />any insurance policies then in fora shall lsan'to the•Purrhaser or
<br />grantee.
<br />9. That as additional and eoUateral Oc4ty for ft.m' meat
<br />of the note described, and all seems to become due uidka this
<br />mortgage, the Mortgagor ha+eby assign r P the Mortgagee all
<br />profits, revenues, royalties. rights and besefrts amminS to the
<br />Mortgagor under any and all oil and gas leases on said premises,
<br />with the right to receive anal receipt for the same and apply them
<br />to said indebtedness as well before as after default in the condi-
<br />tions of this mortgage, and the Mortgagee may demand, sue for
<br />and recover any such payments when due and payable, but shall
<br />not be required; so to do. This assignment is to terminate and
<br />become null amd void upon release of this mortgage.
<br />hereunto set their hand(s) the day. ami; year first above written,
<br />ta wit"" wlkcreof the mmuagor(s) ha ve
<br />In presence oft
<br />10. That the Mortgagor will keep the buildings upon said
<br />premises in good repair, and neither commit nor permit waste
<br />upon said land, nor suffer the said premised to be used for any
<br />unlawful purpose.
<br />11. That if the premises, or any part thereof, be condemned
<br />under the power of eminent domain. or acquired for a public
<br />use, the damages awarded. the proceeds for the taking of. or the
<br />consideration for such acquisition, to the extent of the full
<br />amount of indebtedness upon this mortgage and the note which it
<br />is given to secure remaining unpaid, are hereby assigned by the
<br />Mortgagor to the Mortgagee, and shall be paid forthwith to said
<br />Mortgagee to be applied by the latter on account of the next
<br />maturing installments of such indebtedness.
<br />12. The Mortgagor further agrees that should this mortgage
<br />and the note secured hereby not be eligible for insurance under
<br />the National Housing Act within days
<br />from the date hereof (written statement of any officer of the
<br />Department of Housing and Urban Development or authorized
<br />agent of the Secretary of Housing and Urban Development dated
<br />subsequent to the days' time from the date
<br />of this mortgage, declining to insure said note and this mortgage,
<br />being deemed conclusive proof of such ineligibility), the Mor-
<br />tgagee or holder of the note may. at its option, declare all sums
<br />secured hereby immediately due and payable.
<br />13. That If. the Mortgagor fails to make any payments of
<br />money when the same become due, or fails to conform to add
<br />comply with and of the conditions or agreements contained in
<br />this mortgage, or rbe note which it secures, then the entire prin-
<br />cipai sum aua acwued ' ., shall o �- !`ee me- due and
<br />payable, at the election at the Mortgagee, and this tnergsge may
<br />thereupon be foreclosed irtediately for the whole of said
<br />money, interest, monthly, payments, costs. ground rents, taxes
<br />and the cost of extending ibe abstract aC We from the date of
<br />this loan to the time of commencing suds foreclosure suit, and'a
<br />reasonable attorney's fee. all of which shall be included in the
<br />decree of foreclosure; and the contract embodied in this mortgage
<br />and the note secured hereby, shall in all respects be governed,
<br />construed and adjudged by the laws of Nebraska, where the same
<br />is made.
<br />The covenants herein contained shall bind, and the benefits
<br />.and advantages shall inure to. the respective heirs, executors, ad-
<br />miaistraars, successors. and assigns of the parties. hereto.
<br />Whenever used, the singular number shall include the plural, the
<br />plural the eingutar, and the use of any Sender shall include all ,
<br />genders.
<br />The foregoing conditions, all and singular, being performed ac-
<br />cording to their natural rc-d legal import, this conveyance shall
<br />be void and said premises released at the expense of the Mort-
<br />gagor; otherwise to be and remain In full force and effect.
<br />(Sad)
<br />-Rldhael Ray Pdsan
<br />[see]
<br />Peggy An Hudson [Beall
<br />Pape 3 of 4
<br />IN
<br />[seen]
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