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<br />1027)03
<br />88-
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<br />clauses in favor of and in form acceptable 10 Ihe MOrlgagee. In
<br />evenl of loss Mllrlgagor will give immediate no lice by mail 10 Ihe
<br />Morrgagee. who may make proof of loss if not made promptly
<br />by Mortgagor. and each insurance company concerned is hereb)'
<br />authorized and direcled to make paymenl for such loss directly 10
<br />Ihe Morrgagee inslead of 10 Ihe Morrgagor and Ihe Mortgagee
<br />jointly. and the insurance proceeds. or any parllhereof, may be
<br />applied by the Morrgagee at its option eilher 10 Ihe reduction of
<br />the indebtedness hereby secured or to the restoration or repair of
<br />the properry damaged. In evenl of foreclosure of this mortgage
<br />or other transfer of litle to the said premises in extinguishmenl of
<br />Ih;e indebtedness secured hereby. all right, title and interest oC Ihe
<br />Morlgagor in and 10 any insurance policies then in force shall
<br />pass to the purchaser or granlee.
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<br />9. ThaI, as additional and collateral security for the paymenl
<br />of the note described, and all sums to become due under Ihis
<br />mortgage, Ih,. Morlgagor hereby assigns to Ihe Mortgagee all
<br />profits, revenues, royalties, rights and benefils accruing 10 Ihe
<br />Mortgagor under any and all oil and gas lea.es on said premises,
<br />with the righl 10 receive and receipt for the same and apply Ihem
<br />10 said indebtedness as well before as after default in the condi-
<br />lions oC Ihis mortgage, and Ihe Mortgagee may demand, sue for
<br />and recover any such payments when due and payable, but shall
<br />nOI be required so 10 do. This assignment is to terminate and
<br />become null and void upon release of this mortgage.
<br />
<br />10. ThaI rhe Morrgagor will keep the buildings upon said
<br />premises in good repair, and neither commit nor permil waste
<br />upon said land, nor suffer the said premises 10 be used for any
<br />unlawCul purpose.
<br />
<br />II. ThaI if Ihe premises, or any part thereof. be condemned
<br />under the power of eminent domain, or acquired for a public
<br />use. the damages awarded, Ihe proceeds for the laking of, or the
<br />consideralion for such acquisilion, to the extenl of the full
<br />amount oC indebtedness upon this mortgage and Ihe note which il
<br />is given to secure remaining unpaid, are hereby assigned by the
<br />Mortgagor ~o the Mortgagee, and shall be paid Corthwith to said
<br />Mortgagee to be applied by the latter on account of the next
<br />maturing installments of such indebtedness.
<br />
<br />In witness whereof the Mortgagor(s) ha s
<br />
<br />hereunto sel
<br />
<br />In presence of:
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<br />12. The Mortgagor Curl her agrees Ihal should Ihis mortgage
<br />and the nOle secured hereby not be eligible for insurance undel
<br />the National Housing Acl within 1 20 days
<br />Crom the date hereof (wrinen stalement of an officer of Ihe
<br />Department of Housing and Urban Developmenl or aUlhorized
<br />agent of Ihe Secretary of Housing and Urban Development dated
<br />subsequenl 10 the 120 days' time from the date
<br />of Ihis mortgage. declining to insure said nOle and Ihis Mortgage,
<br />being deemed conclusive proof of such ineligibility), Ihe Mort-
<br />gagee or holder of the note may, al its option, declare all sums
<br />secured hereby immedialely due and payable. Notwithstanding
<br />the foregoing, this option may not be exercised by the holder of
<br />the note when Ihe ineligibility for insurance under the National
<br />Housing ACI is due to Ihe Mortgagee's failure 10 remit Ihe Mort-
<br />gage Insurance Premium to the Departmenl of Housing and
<br />Urban Developmem,
<br />
<br />13. ThaI if Ihe Mortgagor fails to make any paymenls of
<br />money when Ihe same become due, or fails to conform to and
<br />comply with any of Ihe conditions or agreements contained in
<br />this mortgage, or the note which it secures, then the entire prin-
<br />cipal sum and accrued interest shall at once become due and
<br />payable, at the elect;on of the Mortgagee; and this mortgage may
<br />thereupon be foreclosed immediately for the whole of said
<br />money, interest, monthly payments, costs, ground rents, taxes
<br />and Ihe cost of extending the abstract of title from the date of
<br />Ihis loan to the time of commencing such foreclosure suit, and a
<br />reasonable auorney's fee, all of which shall be included in the
<br />decree of foreclosure; and the contract embodies in this mortgage
<br />and the note secllred hereby, shall in all respects be governed,
<br />construed and adjudged by the laws of Nebraska, where the same
<br />is made.
<br />
<br />The covenants herein contained shall bind, and the benefits
<br />and advantages shall inure to, the respective heirs, executors,
<br />administralors, successors, and assigns of the parties hereto.
<br />Whenever used, the singular number shall include the plural, the
<br />plural the singular, and the use of any gender shall include all
<br />genders.
<br />
<br />The foregoing conditions, all and singular, being performed
<br />according to their natural and legal import, this conveyance shall
<br />be void and said premises released at the expense of the Mort-
<br />gagor; otherwise to be and remain in full force and effect.
<br />
<br />his
<br />
<br />hand(s) the day and year first above writlen.
<br />
<br />~we~uL
<br />
<br />;~II
<br />
<br />(Seal)
<br />
<br />(Seall
<br />
<br />(Seal(
<br />
<br />(Seal)
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<br />HUD-92i43M-1
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