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l The Mortgagee may collect a "late charge" not to exceed Five Cents-(5c') for each dollar (51.00)' 'of, each total monthly
<br />payment more than 15 clays in arrears to cover the extra expense involved in handling delinquent accounts.
<br />It is further agreed that in case any suit is begun to foreclose this mortgage, the Mortgagee, its representatives or assigns,
<br />shall at once be entitled to the'.possession of said premises, and upon application therefor, the court in which such action shall
<br />be brought or any judge of such court, either in term time or vacation, is hereby authorized to appoint a receiver to take posses-
<br />sion of.said premises, or to collect the rents therefrom, and to do and perform such other acts as may be required by the order
<br />of the court makingthe appointment; and said Mortgagor hereby waives any notice of such application, and consents to the ap-
<br />pointment of a receiver upon the production of this mortgage, without other evidence.
<br />It is expressly agreed and understood that the Mortgagor shall proceed with the constriction of a building on said premises
<br />with all reasonable dispatch, and due diligence and shall pay for any and all extras or modifications that he may make in said
<br />building, direct to the Mortgagee to be disbursed, together with the money loaned or advanced by said Mortgagee in connection
<br />with this loan. And it is further agreed and understood that if the construction of said building be, at any time, discontinued
<br />'or not carried on with reasonable dispatch in the judgment of the Mortgagee, the Mortgagee or any holder of the said note and
<br />Mortgage may purchase materials and employ workmen to protect said building, so that the same shall not suffer from depreda-
<br />tion or the weather, or to complete said building, so that it may be used for the purposes for which it is designed, under the said
<br />plans and specifications; that all the sums so paid, or. expended, shall be deemed to be advances to the Mortgagor, and secured
<br />by the said note and mortgage and may be applied', at the,option of the said Mortgagee, or any holder of said note and mortgage
<br />to any advances thereafter becoming due. But in no event shall the Mortgagee be liable in any way to complete said building or
<br />to pay for the costs of construction beyond the advances of the amounts deposited for said purposes or loaned by the Mortgagee
<br />for the construction of this building. And it is further expressly agreed and understood that if the Mortgagor shall fail to complete
<br />said building in accordance with the agreements, blue prints and specifications filed in connection with this loan or shall neglect,
<br />faii or, refuse to pay -for the costs and expenses in connection therewith, or shall fail in any other of the-covenants herein set forth,.
<br />then, at the option of the Mortgagee or of the holder of the note and mortgage herein referred to, the Mortgagee may declare said
<br />loan to be in default and the entire amount loaned shall immediately become clue and payable and the property herein referred- : to
<br />shall be security for all of the advances and, expenses incurred and made by the Mortgagee in connection with this provision.
<br />Without limiting the generality of the foregoing, the Mortgagee shall have the right to declare that default has been made
<br />.and the entire indebtedness hereunder to be due and payable at once upon the happening of any one of the following conditions:
<br />(a) The filing of any lien against the property, whether claimed to he prior to the first mortgage or subject thereto;
<br />(b) The entry of any judgment against the Mortgagor;
<br />(c) The failure to comply strictly with zoning regulations, the provisions of the city building code, or if any stop order
<br />is issued by public authorities;
<br />(d) Any misstatement in the loan application;
<br />(e) Any material change in the plans and, specifications not first approved in writing,hy the Mortgagee; '
<br />(f) If work be delayed .or suspended for a period of thirty (30) days without cause satisfactory to the Mortgagee, or
<br />should the Mortgagor fail to cause work to be prosecuted vigorously.
<br />If the Mortgagee declares the loan to be in default under any provisions of this provision, the Mortgagee shall be under
<br />no obligation to advance any further moneys hereunder either for payment of wort: performed and materials already furnisher]; or
<br />those, to be furnished later by the 'Mortgagor..
<br />It is understood and agreed that the Mortgagor will use all advances made under this mortgage to erecta building on
<br />said premises in accordance with the plans, specifications and general agreements filed in connection therewith, and ,heretofore
<br />approved by the Mortgagee.
<br />It is understood and agreed that all materials delivered upon said premises for the purpose of being incorporated in the
<br />building shall be considered a part of the building.
<br />Mortgagee agrees to make advances under. this loan for the construction of said building from time. to time as agreed
<br />between the parties hereto.,
<br />AND IT IS EXPRESSLY AGREED AND UNDERSTOOD that said advances shall be paid only when in the judgment
<br />of the Mortgagee all wort: usually done at the stage of construction when the advance is made payable shall have been done in a
<br />good and workmanlike manner, 'and all materials and fixtures usually furnished and installed at that time shall have been fur-
<br />nished and installed,- but the Mortgagee may advance parts, or the whole, of any installments before they become due, if the Mort-
<br />gagee shall believe it advisable to do so, and all such advances or payments shall be deemed to have been made in pursuance of
<br />this agreement, nothing, however, in this agreement shall be construed as a determination of the quality of the work, labor
<br />nr materials furnished by. the 'Mortgagor or contractor and the Mortgagee, shall he under no duty or, obligation to make
<br />such determination.
<br />The Mortgagee shall he subrogated to all of the rights, privileges, priorities, and equities of any lienholder whose lien may
<br />have been discharged from the proceeds of this loan, or by any funds hereby paid or furnished by the Mortgagee. '
<br />IT IS EXPRESSLY AGREED that if the Mortgagor shall sell, convey or alienate "said property, or any part thereof,
<br />or any interest therein, or shall be divested of his title or any interest therein' in any manner or way, whether voluntarily or
<br />involuntarily, without written consent of the Mortgagee being first had and obtained, Mortgagee shall have the right,-at its option,
<br />to declare any indebtedness or obligations secured hereby, irrespective of the maturity date specified in any note evidencing' the
<br />same, immediately due and payable without notice; and said debt shall thereupon become absolute. If the ownership of the mort-
<br />gaged property becomes vested *in a person other than the Mortgagor, the Mortgagee may, without notice to the Mortgagor, deal
<br />with such successor or successors in interest with reference to this mortgage and'the debt hereby secured as with 'the Mortgagor,
<br />and may forbear to sue or may extend time for the payment of the debt hereby secured without dischprging or in any way affecting
<br />the liability of the original Mortgagor hereunder or upon the debt secured.
<br />Iii this I,nstrumen.f the singular includes, the plural and the masculine includes the feminine and the neuter and this in-
<br />strument shall be binding upon the undersigned, his heirs, personal representatives, successors and assigns.
<br />IN WITNESS WHEREOF, we have hereunto set our hands and seal, the clay and year first above written.
<br />In the presence of:
<br />..........
<br />Thorns L. Willits
<br />,, G:.t3_Rr1L tri,)7N Rif';]. \..... •
<br />�31�L; Delbe t D .. Theasme er•
<br />STATE OF NEBRA {
<br />......... ...... ........ .. ............................................
<br />4Mober 1$, U13 : Lois A. Theasmeyer
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