89103611 - Laserfiche WebLink

Browse

r7 clauses in furor of and in form acceptable to the Mortgagee. in event of Iota Mortgagor will give immediate notice by mail to the Mortgagee, who may make proof of loss if not made promptly by Mortgagor. and each insurance company concerned is hereby authorised and directed to make payment for such loss ditectly to the Mortsasee instead of to the Mortgagor and the Mortgagee )oiatly. and the insurance proceeds, or any part thereof. may be appiiad by the Mortgagee at its option either to the reduction of the indebtedness hereby sawed or to the restoration or repair of the peopesty darnavd. In event of foreclosure of this mortgage or other traarptr of tick to the said premises in extinguishment of the indebtedow mmund hereby. all right. title and interest of the bf*cVWr ant and to any insurance policies then in force shall Pm to 01re pBpvMw or grantee. 9. That ass adds Wad and collateral security for the payment of the note described. and all sums to become due under this mortgage. tlw Mortgagor hereby assigns to the Mortgagee all profits, revenum, royalties. righu and benefits accruing to the Mortgagor under any and elf oil and sues kases on said premises, with the right to receive and receipt fec the same and apply them to said indebtedness as well. before as after default in the condi- tfuns of this mortgage. and the Mortgagee may demand. sue for and recover any such payments when due and payable, but shall nat be required so to do. This assignment is to terminate and become null and void upon release of this mortgage. 10. That the Mongagor vriM keep the buildings upon said premises in good repair. wd rwither commit nor permit waste upon said land, nor suffer the said premises to be used for any unlawful purpose. I1. Thal if the premises. or any part thereof, be condemned udder tM M"" of *Mf" f dmsia W e:.;ui. llr =.4 pulMlic vw� the dan"m awarded. the proceeds for the takfng of, or the coasiderati n for such acquisition. to the extent of the full amount of Wdlebttdness upon this mortgage and the note which it is given to mme rermainins unpaid, ate hereby assigned by the Mortgagor :o tfte Mortgallm. and shall be paid forthwith to said Mortgagee to be applied by the latter on account of the next ettaturing installments of such indebtedness. 7 iAa ssllasas obstoof the Mortgagor(s) have to presence of: �i 12. The Mortgagor further agrees that should this mortgage and the note secured hereby not be eligible for insurance under the National Housing Act within days from the date hereof (written statement of an officer of the Department of Housing and Urban Development or authorired agent of the Secretary of Housing and Urban Development dated subsequent to the days' time from the date of this mortgage. declining to Insure said note and this Mongage, being deemed conclusive proof of such ineligibility). the Mort - vVe or holder of the note may, at its option, declare all sums secured hereby immediately due and payable. Notwithstanding the foregoing. this option may not be exercised by the holder of the note when the ineligibility for insurance under the National Housing Act is dug to tRerr Mortgagee's failure to remit the Mort - sage Insurance Premium to the Department of Housft and Urban DevekMetent. 13. That if the Mortgagor fails to make any payments of money when the same become due. or fails to conform to and comply with any of the conditions or agreements contained in this mortgage, or the note which it secures. then the entire prin- cipal sum and accrued interest shall at once become due and payable. at the election of the Mongagee; and this mortgage may thereupon be foreclaed immediately for the whole of said money. interest, monthly payments. coats. ground rents. taxes and the cost of extending the abstract of title from the date of this loan to the time of commencing such foreclosure suit, and a; reasonable atrurney's fee. all of which shall be included in the .. decree of fore0osure; and the contract embodies in this mortgage and the note secured hereby. shall in all respects be governed. construed and adjudged by the laws of Nebraska, where the same is made. The covenants herein contained shall bind, and the benefits and advantages shall inure to. the respective heirs. executors. administrators. successors. and assigns of the parties hereto. urid. sir 644uliu uuuiuer Awl lisdudt the plural, the plural the singular. and the use of any gender shall include all Senders. The foregoing conditions. all and singular. being perforated according to their natural and legal import. this coeveyanee shall be void and said premises released at the expense of the Mort - ssgor; otberwiu to be and remain in full fora and effect. hereunto see their hand(s) the day and year first above written. " 9 0 --- Iseall f1james ♦ '' bAma 1 e , Page 3 of 4 IS00111 [semi (Chtt HUD421430-1 .�t 1-9-1