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<br />made shall be added to the principal sum owing on the above
<br />note, shall be secured hereby, and shall bear interest at the rate
<br />set forth in the said note, until paid.
<br />
<br />7. That the Mortgagor hereby assigns, transfers and sets over
<br />to the Mortgagee, to be applied toward the payment of the note
<br />and all sums secured hereby in case of a default in the perfor-
<br />mance of any of the terms and conditions of this mortgage or the
<br />said note, all the rents, revenues and income to be derived from
<br />the mortgaged premises during such time as the mortgage in-
<br />debtedness shall remain unpaid, and the Mortgagee shall have
<br />power to appoint any agent or agents it may desire for the pur-
<br />pose of repairing said premises and of renting the same and col-
<br />lecting the rents, revenues and income, and it may payout of
<br />said incomes all expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom; the balance remaining,
<br />if any, to be applied toward the discharge of said mortgage
<br />indebtedness.
<br />
<br />8. That the Mortgagor wiU keep the improvements now ex-
<br />isting or hereafter erected on the mortgaged property, insured as
<br />may be required from time to time by the Mortgagee against loss
<br />by frre and other hazards, casualties and contingencies in such
<br />amounts and for such periods as may be required by the Mort-
<br />gagee and ",ill pay promptly, when due, any premiums on such
<br />insurance provision for payment of which has not been made
<br />hereinbefore. All insurance shall be C<lrried in companies ap.
<br />proved by the Mortgagee and the policies and renewals thereof
<br />shall be held by the Mortgagee and have atlached therew loss
<br />payable clauses in famr of and in form acceptable to the Mor-
<br />tgagee. In event of loss Mortgagor "ill give immediate notice by
<br />mail to the Mortgagee, who may make proof of loss if not made
<br />promptly by Mortgagor, and each insurance company concerned
<br />is hereby authorized and directed to make payment for such loss
<br />directl)' to the Mortgagee instead of to the Mortgagor and the
<br />Mortgagee jointly, and the insurance proceeds, or any part
<br />thereof, may be applied by the Mortgagee at its option either to
<br />the reduction of the indebtedness hereby secured or to the
<br />restoration or repair of the property damaged. In e\'ent of
<br />foreclosure of this mortgage or otber transfer of title to the mor-
<br />tgaged property in extinguishment of the indebtedness secured
<br />hereby, all right, title and interest of the Mongagor in and to
<br />any insurance policies then in force shall pass to the purchaser or
<br />grantee,
<br />
<br />9, That as additional and collateral secwit). for the parment
<br />of the note described, and all sums to become due under this
<br />mortgage, tbe Mortgagor hereby assigns to the Mongagee all
<br />profits, re\'enues, royalties, rights and benefits accruing to the
<br />Mortgagor under any and all oil and gas Ifases on said preDllse$,
<br />",ith the right to receive and receipt for the same and appl)' them
<br />to said indebtedness as well before as after default in the condi-
<br />tions of this mortgage, and the Mortgagee may demand. sue for
<br />and recover any such payments when due and pa)'able, but shall
<br />nOl be required so to do. This assignment is to tenninate and
<br />become null and ,'oid upon release of this mortgage.
<br />
<br />In wIlHss ...knol the Mortgagor(s) ha
<br />
<br />hereunto set
<br />
<br />In presence of:
<br />
<br />87-.
<br />
<br />107220
<br />
<br />10. That the Mortgagor will keep the buildings upon said
<br />premises in good repair, and neither commit nor permit waste
<br />upon said land, nor suffer the said premises to be used for any
<br />unlawful purpose.
<br />
<br />11. That if the premises, or any part thereof, be condemned
<br />under the power of eminent domain, or acquired for a public
<br />use, the damages awarded, the proceeds for the taking of, or the
<br />consideration for such acquisition, to the extent of the full
<br />amount of indebtedness upon this mortgage and the note which it
<br />is given to secure remaining unpaid, are hereby assigned by the
<br />Mortgagor to the Mortgagee, and shall be paid forthwith to said
<br />Mortgagee to be applied by the laller on account of the next
<br />maturing installments of such indebtedness.
<br />
<br />12, The Mortgagor furtber agrees that should this mortgage
<br />and the note socured hereby not be eligible for insurance under
<br />the National Housing Act "ithin days
<br />from the date hereof (wrillen statement of an)' officer of the
<br />Department of Housing and Urban De\'elopment or authorized
<br />agent of the Secretary of Housing and Urban Developmenl dated
<br />subsequent to the days' time from the date
<br />of this mortgage, declining to ioslrre said note and this mortgage,
<br />being deemed condush'e proof of such ineligibility), the Mor-
<br />tgagee or holder of the note may, at its option. declare all sums
<br />secured hereby immediately due and pa)'able.
<br />
<br />13. That if the ~Iortgagor fails to make any pa)'I1\mts of
<br />money when the same become due, or fails to conform to and
<br />rompl)' "ith an)' of the conditions or agreements contained in
<br />this mortgage. or the Il{)te which it se..-ures, then tbe entire prin-
<br />cipal sum and accrued interest shall at once be\."Ome due and
<br />payable, at tbe el~ion of the Mortgage.e; and this mortgage may
<br />thn'eupon be foreclosed immediately for tbe whole of said
<br />money, interest, monthly pa)'IIlents, costs, ground rents, ta,es
<br />and tlie cost of extending the abstract of title from the date of
<br />this loan to the time of commencing such foreclosure suit, and a
<br />reasonable attorney's fee. all of which shall be included in th;!
<br />de...e.e of fOle..-Iosure; and tbe contract embodied in this mortgage
<br />and the note secured hereby, shall in all respects be go\'emed,
<br />construed and adjudged b)' the laws of Nebraska, where tbe same
<br />is made.
<br />
<br />The co\'enants herein contained shall bind, and the benefits
<br />and ad\<lJltages shall inure to. the lespC\."th'e beirs. e:~ecutors, ad-
<br />ministrators. su..-ces..wrs, and assigns of the parties hereto.
<br />WhenC\'er used. the singular numM shall include the plural, the
<br />plural the singular. and the use or an)' geDlm shall include all
<br />genders.
<br />
<br />The foregoing conditions. all and singular, being performed ac-
<br />cording to their natural and legal import. this COD\'e)'aIICC shall
<br />be \'oid and said pnmu.es released at the expense of the Mort-
<br />gagor; othef1o\isc to be and remain in full force and effect.
<br />
<br />~ " ~ ~he~and year Iirst abo\'e written.
<br />
<br />~, (\..'V"~ Q ~ Ll, I "j (SW(
<br />Larr, R. SchInkel
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<br />/1(11)1/ 0. ~/./~,J~/
<br />Carol A. Schinkel
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<br />Page J 01 4
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