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<br /> : 89"' 106�49
<br /> rclauus in favor of and in form acceptable co the Mort�agee. ln 12. The Mortgagor further agrcrs that should this mortgage
<br /> event oP toss Mortpaor will�ive irtmediate notice by mail to the and the note securcd hertby not be eliRible for insurance under
<br /> ., Monja�ee, who may make proaf of lass�F not m�de promptly the National Housing Act within 1� days _
<br /> by Mortsa�9r, and each insurance company cancerned is hereby irom the date hereof(written statement of an af�cer of �he
<br /> , authoriied and directtd to make payment for such loss directly to p�partment of Housing and Urban Drvelopment or authorized
<br /> thc Mort��a instad of to the Mon�a�or and thc Monga�ee agent of the Secrotary of Housing and Urban Devefopment dated
<br /> ]olntly,and the inswance p�oceeds.or any put thereof� may be
<br /> appUed by the Mortja�a at its optlon cither to the reduction of subsequent to the 180 days' time trom the date
<br /> the indebtedness hbreby secured or to the reatoratlon or repair of of this mortgage, declining to insure sald note and this Mongage,
<br /> the property damajed. In event of foreclosure of this mortgage bein�deemed conclusive proof of such inel9gibility). the Mon-
<br /> I or other transfer of title to the said premises in extin�uishment of Saga or holder oP the aote may, at its optlon, declare aU sums
<br /> . , the isrdebtednas secured hereby,all riyht, titic a�d Interest of the secured hereby immediately due and payablc. Notwithstanding
<br /> ! Mort=s=or in ar�d to Rny insurance policies then in force shall the foregoing, th9e option may not be exorcised by the holder of
<br /> ; pass to the purchaser or Qranta. che note when the ineliglbility for insurance under the National
<br /> � Hous9ng Act is due to the Mortgagee's failure to remit the Mort•
<br /> ! 9. That a additional and collateral sxnrity for the payment 8age lnswance�Premium tQ che Department of Housing and
<br /> � of the note dacribed�and all sums to become due ur_der this Urbaa D�,welopment. �
<br /> 1 mort�s�e,the Mortgagor hereby assi�ns to the Mortgagee all
<br /> profits.revenua,royaltia, righu and benefits accruing to the 13. That if the Mortgagor Palls to make any payments of
<br /> � Mort�aYor under any and aU oi!and gas leases on sa�d premises, money when the same becQme due, or fails to conform to and
<br /> � with the ri�ht to receive and receipt for the same and apply them compiy with any of the rnasd�itions or agreements contained in
<br /> ' to said indebtedness as weU before�s after default in the cond9- this mortgage,or the aote which it secures, then the entire prin-
<br /> tions of this mort�s�e.and the Mongaga may demand, sue for cipal sum and accrued interest shall at once become due and
<br /> and recover any such payments when due and payable. but shall paYabte.at the election of the Mortgagee; and this mongag= may
<br /> not be rcquired so to do. This assignment Is to terminate and thereupon be fvreclosed immediately for the whole of said
<br /> become nuU and void upon release of this mortgage. money, interest. monthly payments. msts� ground renu, taxa
<br /> � and the cost of extending the abstract of title from the date of
<br /> ; 10. 'That the Mort�a�or w9U keep tho buildit�gs upon said this loan to the timo of commencing such loreclosure suit,and a
<br />: premises in goo�repair, and neither commit nor permit waste reasonable attorney's fee,all of which shall be included in the
<br /> � upon said land, nor suffer the sxid premises to be used for any d�K of foreclosure; and the contract embodles in this mortgage : �
<br /> unlawfu!purpose. and the note secured hereby, shall in all respects be governed.
<br /> construed and adjudged by the laws of Nebraska,where the same !
<br /> � 11. '�'hu if the premises.or stny part thereof,be condemned is made. � �£z
<br /> � under the power of eminent domain,or acquired for a public The rnvenante hr��in rnntaZnryi eha!! t�jnrl,��th� �e��fitj ��'�'—`
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<br /> ; use�tlie Qunajes awudea.the proceeds for the taking of,or the �d advantages shall inure to, the respective htlrs,executors. - -
<br /> � consideraaon for such acquisition. to the extent of the full adminisuators, sucassors, and assigns of the parties haeto. � �
<br /> ! unount of indebtedaess upon this mongage and the note which it �lyhenever used, the singular number shall include the plural, the � ; ±
<br /> ls�iven to secure remaining unpaid.aze hereby assignod by the p���the singulaz. and the use of any gender shall iaclude atl
<br /> t Mort�or.o We Mort�a�ee.and sh�ll be paid forthwith to said genders. _—
<br /> � Mortgagee to be applied by the latter on account of the next
<br /> � maturIng instaqments of such indebtedness. The foregoing conditions, all and singular, being performed ;
<br /> according to their natural and Legal impon, this conveyance shall •..
<br /> � be void and said premises released at the expense of the Mon- -
<br /> � gagor;otherwiso to be and remain in full force and effect.
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<br /> � L wltaat wlYercot the Mortgagor(s)ha ye hereunto set t he 1 Y hand(s)the day and year�rst above written.
<br /> � In preseace of: � ',
<br /> ' �.�'�I.r.G'� /_i/✓�� �.rt.�
<br /> [Seal1 �;3:.
<br /> I CHARLES W SCHAMP ' '•��.
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<br /> PATRICIA K SCFiAMP
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