|
<br />~
<br />
<br />."
<br />88- 1U2.1.51
<br />
<br />made Ihall be added to the principallum owinB 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 Mortlaaor hereby assigns, Ifansfers and sets over
<br />to the Mortl8lcc, to be applied toward the payment of the note
<br />and all sums secured hereby in case of a default in the perfor-
<br />manc:e of any of the terms and conditions of this mortsaae or the
<br />said DOte._ all the rents, revenues and income to be derived from
<br />the mortl8led premises durina such time as the mortgage in-
<br />debtedness shaD remain unpaid, and the Mortsaacc shall have
<br />power to appoint any asent or alents it may desire for the pur-
<br />pose of repairinssaid premises and of renting the same and col-
<br />lec1ina the rents, revenues and income, and it may payout of
<br />said incomes aU expenses of repairinl said premises and necessary
<br />commissions and expenses incurred in renllna and manaains the
<br />same and of COUectinl rentals therefrom; the balance remaininl,
<br />if any, to be applied toward the disc:bar.e of said mortl8le
<br />indebtedness.
<br />
<br />8. That the MortNor wiD keep the improvements now ex.
<br />istina or hereafter erected on the mortl8led property, insured as
<br />may be required from time to time by the Mortsa8cc qainst loss
<br />by rue and other hazArds, casualties and contingencies in such
<br />amounts and for such periods as may be required by the Mort-
<br />811ft and will pay promptly, when due, any premiums on such
<br />insurance provision for payment of which has not been made
<br />hereinbefore. All inaurance shall be carried in companies ap-
<br />proved by the MortPlcc and the policies and renewals thereof
<br />shall be held by the Mortllllcc and have attached thereto loss
<br />payable CIaUleS an favor of and in form acceptable to the Mor.
<br />t8llft. In event of Iou Mortgaaor wiD live immediate notice by
<br />mail to the Mortlaacc, who may make proof of loss if not made
<br />promptly by Mortllllor, and each insurance company concerned
<br />is hereby aL\thorized and directed to mate payment for luch loss
<br />directly to the Mortllllcc inatead of to the Mortgaaor and the
<br />Mortl8lcc jointly, and the insurance proceeds, or any part
<br />thereof, may be applied by the MortPlec at its option either to
<br />the reduction of the indebtedness hereby secured or to the
<br />rcscoration or repair of the property damqed, In event of
<br />forcdoiurc of this mortl8le or other tranafer of title to the mor.
<br />tppd property in elltinluishment of the indebtedness se<:ured
<br />hereby, all riJht. title and interest of the Mortla.or in and to
<br />BaY insurance policies then in force shall pass to the purchaser or
<br />.;l8IItcc '
<br />
<br />9. That as additional and collateralse<:urity for the payment
<br />of the DOte dacribed, and all sums to become due under this
<br />mortpae. the Mortpaor hereby aW.na to tbe MortPlcc all
<br />profits. revenues. royalties. ri.hts and benefits ac:aui... to the
<br />Mortpaor UDder any and all oil and ... lcues on said premises,
<br />with the risht to receive and receipt for the I2me and apply them
<br />to said indtbtcdness as well before as after default in the condi.
<br />tions of this mortJlllC, and the MortPlce may demand, lue for
<br />and recover any such payments when due and payable, but shall
<br />DOt be required 10 to do, This as.i.nment is to terminate and
<br />become nuD and void upon release: of this mort'aae.
<br />
<br />.. ....... .lIenor the Mortlaaor(s) ha VI?
<br />
<br />htreunto set
<br />
<br />En praencc of:
<br />
<br />10, That the Mortsa.or will keep the buildings upon said
<br />premises in lood 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 />II. That if the premises, or any parr thereof, be condemned
<br />under the power of eminent domain, or acquired for a public
<br />use, the damales awarded, the proceeds for the takina of, or the
<br />consideration for such acquisition, to the extent of the full
<br />amount of indebtedness upon this mOr1Jl8e and the note which it
<br />Is aiven to secure remainina unpaid, are hereby assigned by the
<br />Mortpaor to the MortPlcc, and shaD be paid forthwith to said
<br />Mortaaacc to be applied by the latter on account of the next
<br />maturi... in.tallments of such indebtedness.
<br />
<br />12. The Monl8lor furrher ..rees that should Ihis mortaaae
<br />and the note secured hereby not be diPble for insurance UDder
<br />the National Housina Act within days
<br />from the date ItFreof (written statement of any officer of the
<br />Department of Housinl and Urban Development or authorized
<br />..ent of the Secretary of Housi... and Urban Development dated
<br />subsequent to the days' time from the date
<br />of this monaBBe, declinina to insure said note and this mortJIIIC.
<br />beina deemed conclusive proof of such iPeliaibility). the Mor-
<br />tlaace or holder of the note may, at its option, dcdare aU sums
<br />secured hereby immediately due and payable.
<br />
<br />13, That if the Mortgaaor fails to make any payments of
<br />money when the same become due, or fails to conform to and
<br />comply with any of the conditions or qrccmcots contaiaed in
<br />this mon...e, or the note which it secures. then the entire prin-
<br />cipal sum and accrued interest shall ar once become due and
<br />payable, at the election of the Mortgaacc; and this mortpae may
<br />thereupon be foreclosed immediately for the whole of said
<br />money, interest, monthly payments, costs, ...ound ratts. tucs
<br />and the cost of extendinl the abstract of title rrom the dale of
<br />this loan to the time of commenci", such foreclosure suit. and a
<br />reasonahle attorney's r~. an of which shall be included iD the
<br />decrcc of foreclosure; and the contract cnl~ in this mort..
<br />and the note secured hereby, shall in all respects be IOvuaed,
<br />construed and adjudled by tht laws of Nebraska. ~ the same
<br />is made.
<br />
<br />The covenants herrin contained shall bind, and the bmeflU
<br />and advantqcs shall inure to, the respecti\'C Min. cUCUlon. ad.
<br />ministrators. successors, and assigns of the partin hereto,
<br />Whenever uJed. the sinaular number shall include the plural, the
<br />plural the si",ular, and the use of any JCDder shall include aU
<br />lenders.
<br />
<br />Tht foreaoina conditions, all and sinaular. belna pcrfonned &c.
<br />cordinlto Ihrir natufal and Ie,.l import. this con\'C)~ shaIJ
<br />be void and said premises relea5Cd al the e~penK of the Mon.
<br />laaor; otherwise to be and remain in full fortt and effect,
<br />
<br />
<br />----,~-_._-_..~~--~~_.-"~_.~.._._-~~-'~<'~-~-~"-~
<br />
<br />Pao. 3 01 4
<br />
|