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<br />87- 107346
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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 5eCUred 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 ha\'e
<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, re\'enues 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 balan~ remaining,
<br />if any, to be applied toward the discharge of said mortgage
<br />indebtedness.
<br />
<br />8. That the Mortgagor will keep the improvements now ex-
<br />isting or he-reafter erected on the mortgaged property, insured as
<br />may be required from time to time by the Mortgagee againsl loss
<br />by rITe 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 carried in companies ap'
<br />proved by the Mortgagee and the policies and renewals thereof
<br />~hall be held by the Mortgagee and ha\'e attached thereto loss
<br />payable clauses in favor of and in form acceptable to the Mor.
<br />tgagee. In e"ent of loss Mortgagor will gh'e immediate notice by
<br />mail to tbe Mortgagee, wbo may make proof of loss if not made
<br />promptly by Mortgagor, and each insurance company con~med
<br />is be-reby authorized and directed to make payment for such loss
<br />directly to the Mortgagee instead of to the Mortgagor and the
<br />Mortgagee jointly, and the insuran~ proceeds, or any part
<br />the-reof, may be applied by the Mortgagee at its option either to
<br />the reduction of tbe illldebtedness hereby secured or to the
<br />restoration or repair of Ihe property damilged. In e\-ent of
<br />foreclosure of Ibis mortgage or other transfer of title to the mor-
<br />tgaged property in extUiguishment of the indebtedness secured
<br />hereby, all right, title and interest of tbe MOrl8agor 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 securit). for the payment
<br />of the note described, and all sums to become due under this
<br />mortgage, Ihe Mortgagor hereby assigns to the Mortgagee all
<br />profits, ra'enues, royalties, ngbts and benefits accruing 10 the
<br />Mortgagor under any ,and all oil and gas leases on said premises,
<br />"ith the right 10 rcttive and rcttipt for the same and apply Ihem
<br />10 said indebtedness as well before as after default in Ibe condi.
<br />lions of this mortgage, and Ihe Mortgagee may demand, sue for
<br />and recover any such payments when due and payable, bUI shall
<br />not be required so to do. This assignment is 10 terminate and
<br />b<<ome null and \'oid upon release of lhis mortgage.
<br />
<br />III witllf'SS wIIenof the Mortgagor(s) ha ve
<br />
<br />hereunto set
<br />
<br />In presell~ of:
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<br />10. That the Mortgagor will keep the buildings upon said
<br />premises in good repair, a!ld neither commit nor permit waste
<br />upon said land, nor suffer the said premises to be used for any
<br />unlawful purpose.
<br />
<br />II. That if the premises, or any pan 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 />con5ideration 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 b}' the latter on account of the next
<br />maturing installments of such indebtedness.
<br />
<br />12. The Mortgagor further agrees that should this mortgage
<br />and Ihe note serored hereby not be eligible for insurance under
<br />the National Housing Act wilhin 180 days
<br />from the date hereof (written statement of any officer of Ihe
<br />Department of Housing and Urban De\'elopmenl or authorized
<br />agent of the Secretary of Housing and Urban De\-eloPment dated
<br />subsequent to the 180 days' time from the date
<br />of this mortgage, declining to insure said note and this mortgage,
<br />being deemed condusi\'e proof of such ineligibility), the Mor-
<br />Igagee or holder of the note may, at its option, declare all sums
<br />scarred hereby immediately due and pa)'able.
<br />
<br />13. That if the Mortgagor fails 10 make any payments of
<br />money when the same become due, or fails 10 conform to and
<br />comply wilb an}" of Ihe conditions or agreements contained in
<br />this mortgage, or lhe nOle which it se..-ures, then the entire prin-
<br />cipal sum and acaued intetC$t shall at ornx: become due and
<br />payable, at tbe election of lhe Mortgagee; and this mortgage may
<br />thereupon be foreclosed immediately for Ibe whole of said
<br />money, interest, monthly pa)~ents. costs, ground rents, laxes
<br />and Ihe cosl of e:uending lhe abstract of litle from tbe date of
<br />lhis loan 10 the time of commencing such fora.-Iosure SUil, and a
<br />reasonable attorney's fee, all of which shall be included in Ihe
<br />decree of foreclosure: and lbe contract unbodied in this mortgage
<br />and the nOle secured hereby, shall in all respects be go\'emed,
<br />construed and adjudged b)' tbe laws of Nebraska, where the same
<br />is made.
<br />
<br />The oo\'enants berein contained shall bind, and tbe benefits
<br />and adnntages shall inure 10, the respecti\'e heirs, e;tecutors, ad-
<br />ministralors, sua:essors, and assigns of the parties herelO.
<br />\VlletlC"er wed, the singular number shall include the plural. the
<br />plural tbe singular, and tbe use of any gender shall include all
<br />genders.
<br />
<br />The foregoing conditions, all and singular, being performed ac-
<br />cording to their nalural and legal import, this con\-c:yance shall
<br />be mid and said premises released al the expense of the Mort-
<br />gagor; OIherv.i5e 10 be and remain in full fortt and effect.
<br />SEE ADJUSTABLE RATE RIDER ATIACHED HERETO AND
<br />A PART HEREOF }o"OR ADDITIONAL TEltlIS>> COVENANTS
<br />[. CONDITIONS OF THIS MORTGAGE.
<br />
<br />Th'F!..:~ __~ hand(s) tile day and year first aboye writlen,
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