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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 days in arrears to cover the extra expense involved in handling delinquent accounts.
<br />It is further agreed that in case any suitis 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 a pill ication ,therefor, the court in which'such action shall
<br />he 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 />ul of the court making the 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 construction 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 anytime, 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 sutler 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 tlig 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 />fail 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 due and payable and the property. herein referred, to
<br />shall he 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 anystop 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. by the Mortgagee;
<br />(f) If work be delayed or suspended for a period of thirty (30) clays 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 work performed and materials already furnished, 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 erect a 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 work 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 clue, 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 />pr 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 whgse 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 discharging or in any way affecting
<br />the liability of the original Mortgagor hereunder or upon the debt secured.
<br />In this''jnstrume if the singular includes the plural .and the masculine includes the feminine and the neuter and this in-
<br />slrunient shall he binding Upon the undersigned,.his heirs, personal representatives, successors and assigns.
<br />IN WITNESS WHEREOF, we have hereunto set our hands and seal, the day. and' year first above written.
<br />In the presence-of:
<br />Thomas L. Willits
<br />C* il.D.t�t 1GU
<br />%AL s�
<br />Rickie Douglas Noden
<br />�!Tr-fE 0= NEBRA
<br />:�-
<br />3 October 18, 17' GAJ:.:�� (d C .... ......................
<br />-----� Susan. Jane Noden
<br />
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