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010812
<br />T.tfE MORTGAGOR FURTHER COVENANTS AND AGREES:
<br />That tile Mortgagor will pay the indebtedness as hereiribefore provided.
<br />and'has good right and lawful authority to sell -and
<br />That the �Mortgagor is the owner of said property in fee simple
<br />convey the same and that tile same is free and clear of any lien or etteurnhrance; ind that Mortgagor will warrant arid defend tile
<br />title to said premises against the claims of all persons whomsoever.
<br />To pay immediately .vhen due and payable all general taxes, special taxes, special assessments, water charges, sewer 1;Prv,
<br />ice.charges, and other taxes and charges against said property, and all taxes levied on the debt secured hereby, arid to furnish the
<br />Mortgagee, upon- 1��equest, with the original or dul')licate receipts therefor. The' -.1%,Iortgag'or' agrees that there shall lie added to
<br />each monthly payment required hereunder or under the evidence of debt secured hereby in amount estimate(f by the Mortgagee
<br />to be sufficient io.'enable the Mortgagee to pay, as they become due, all taxes, -assessments, and similar charges upon the prcm�
<br />ises subject thereto; any deficiency.because of tile insufficiency of such additional pAyments shall be forthwith deposited by the
<br />Mortgagor with tile Mortgagee upon demand by 'the Mortgagee. Any default under this paragraph Shall lie deemed a default in
<br />payment of taxes, a.ssessments, 'or similar charges, required hereunder.
<br />The 7%,lortgagor agrees that there sliall als?o be added to each monthly payment of principal and interest required here-
<br />under an aniount estimated by the Mortgagee to b6 sufficient to enable tile Mortgagee to pay, as it becorn" due, the insurance
<br />pre ' nuum oil my insurance policy delivered to the Mortgagee. Any deficiency because of tile insufficiency of such additional pay-
<br />ments shall be forthwith deposited by the Mortgaj;or with the Mortgagee upon deniand by the Mo'rtgagee. Ally default under this
<br />ayrn
<br />paragraph sliall be deemed a default in the 1), ent of insurance premiums. If the policy or policies deposited are such at, lrolne
<br />owners or all risk policies, arid the deposits are insufficient to pay. tile entire premium, the Mortgagee may apply the deposit to
<br />pay premiums on risks required to be insured by this mortgage.
<br />Payments made by the Mortgagor under the above paragraphs may, :it tire option of the Mortgagee, be held'by it and
<br />commingled with other such funds or its own funds -for the payment of such items, and until so applied, such payments are hereby
<br />pledged as securit� for the unpaid balance of tile mortgage indebtedness.
<br />To procure, deliver to, and maintain for the benefit of the Mortgagee during the life of this mortgage original policies and
<br />rcnewal�; thereof, delivered at least tell (lays before the expiration of any such policies, insuring against fire in(] other insurable
<br />hazards, casualties., and contingencies as the Mortgagee may require, in an amount equal to the indebtedriess.secured by tlii�
<br />Mortgage, arid in companies acceptable to the Mortgagee, with loss payable clause in favor of -arid in form acceptable to the Mortga.
<br />gee. In the event any policy is not renewed oil or hefore tell (lays of its expiration, the I'vlortgagee may procure insuranceon the
<br />improvement,,;, pay.'the premium therefor, and such suni ,;hall hecum6 immediately due arid payable with interest at thp rate- set
<br />forth in said note until paid arid Shall be Secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br />as are herein required or failure to pay any sums advanced hereunder shall, at tire option of the Mortgagee, co . nstitute a default
<br />under.the terms of,this mortgage. T)ie delivcry of such policies Shall, in the event, of default, Constitute an assignment of the tin'
<br />earned premium.
<br />Any sums - received by the Mortgagee by 'reason of loss or damage insured against may be retained by tile %Jortgagee
<br />alid applied toward the payment of the debt hereby secured, or, at the option of the Mortgagee, such Sums either ' wholly or in
<br />part may be paid over to the Mortgagor to be used to repair such buildings or to build'new buildings in their place or for ally
<br />other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full aniount SCCUred liere-
<br />by before such payment ever took place.
<br />To prompt " ly repair, restore or rebuild any buildings or improvements now or hereafter oil the premises which niav be, -
<br />come damaged or destroyed; to keep said premises in good condition and repair and free from any mechanic's lien or other lien or
<br />claim of lien riot expressly subordinated to the lien hereof; riot to stiffer or permit any unlawful use of or any nuisance to exist on
<br />said propeity rior'to permit %vaste on -said premises, nor to do any other act whereby tire property hereby conveyed ;hall become
<br />less valuable, nor to diminish or impair its value by any let or omission to act; to comply with all requirements of law with respect
<br />to the mortgaged premises and the use thereof.
<br />That Should the premises or any part thereof be taken or damaged by reason of any public improvement or condemnation
<br />proceeding', or under the right of eminent domain, ()r in any other manner, the Mortgagee Shall be entitled to all compensation.-,,
<br />awards, and any othe . r payment or relief therefor, -and shall be entitled, at its option. to commence, appear in arid prosectrie in its
<br />own name any aciion or proceeding, or to make any compromise or settlement in,connection with such taking or damage. All Stich
<br />compensation, awards, damages, right of action in(] proceeds are : hereby assigned to tile Mortgagee, who may, after deducting
<br />therefrom all its expenses, release any moneys so received by it or apply tile same on any indebtedness secured hereby. Tile Mort', -
<br />gag I or agrees to execute st ich further assignments of an), compensation, awards, damages, and rights of action and proceeds as the
<br />Mortgagee may reqiiire.
<br />That in case of failure to perform any of the covenants herein, the Mortgagee may do oil the Mortgagor's behalf everything
<br />so covenanter]; that -the Mortgagee may also do any act it may d.eem necessary to - protect tile lien;thereof; that file ?vTortgagor will
<br />rellay upon demand any moneys paid or disbursed by the Mortgagee for any of the aho ve purposes, and such moneys togetlier with
<br />interest thereon aCtlic, rate provided in said note shall become so much additional indebtednesshereby Secured and may he'in
<br />eluded in any decree foreclosing this mortgage and be paid out of tile rents or proceeds:of sale of said premises if not otherwise
<br />paid; that it shail.hot be obligatory upon tile Mortgagee to inquire into tile validity of any lien,, encumbrances., or claim in acl-
<br />vancing moneys.as'above authorized, but nothing herein contained shall be construed as requiring the Mortgagee to advance any
<br />moneys for any such purpose nor to do any act hereunder; and that Mortgagee shall not incur any personal liability because of any-
<br />thing it may do or. omit to do hereunder.
<br />In the event of the.default by Mortgagor iin the payment of my installm*ent, as required by the Note secured hereby, or
<br />in the performance of -the obligation in this mortgage or in the note secured thereby, tile Mortgagee shall be entitled to declare the
<br />debt secured hereby due and payable without notice, andthe Mortgagee shall be entitled at its option, without notice. either by itself
<br />or by a receiver t6,be appointed by the court thereof, and without regard to the adequacy of any security for the indebtedness se-
<br />cured hereby, to 6nter upon and take pos�e�gion'6f the'mortgaged premises, andio'collect and receive the rents. i-ssues ind profits
<br />thereof, and apply' the same, less costs of operation 'arid collection, upon the in( lebtedness secured fly this mortgage; said rents,
<br />issues and profit,; lking hereby assigned to the Mortgagee as further security for the'payment oi all indebtedness SeTured hereby,
<br />The Mortgagee sliall Nive the power to appoint any agent or agents it rn�y desire for the purpose of repairing said prem-
<br />ises; renting the �ame; collecting the rents. revenues and income, and it may pay -out of said income all expenses incurred in rent-
<br />ing and mariaging the same and of coll&cting tile rentals therefrom. The balance remaining, if any, shall he applied toward- the
<br />discharge of the mortgage indebtedness. This assignment is to terminate and become null and void upon relerise of this mortgage.
<br />,Hall County, Nebraska
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