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<br />88- 103007
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<br />the property otherwise after default, the Morlgagee shall apply, al the time of the commencemenl of such
<br />proceedings, 01 at the time the property is otherwise acquired, the amount then remaining 10 credil of
<br />Mortgagor under (a) of paragraph 2 preceding, as a credit on the interest accrued and unpaid and the
<br />balance to the principal then remaining unpaid on said note.
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<br />4. The lien of this instrument shan remain in full force and effect during any postponement or exten-
<br />sion of the time of payment of the indebtedness or any part thereof secured hereby.
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<br />5. He/she will pay all ground rents, taxes, assessments, water rates, and other governmental or
<br />municipal charges, fmes or imposit\ons,levied upon said premises and that helshe will pay all taxes levied
<br />upon this mortgage, or the debt secured th<:reby, together with any other taxes or assessments which may be
<br />levied under the laws of Nebraska against the Mortgagee, or the legal holder of s~d principal note, on ac-
<br />count of this indebtedness, except when payment for all such items has theretofore bl.'en made under (a) of
<br />~aragraph 2 hereoft :tnd helshe will promptly deliver the official receipts therefor to the Mortgagee. In
<br />Clefault thereof the Mortgagee may pay the same,
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<br />6. If helshe fails to pay any sum or keep any covenant provided for in this Mortgage, the Mortgagee,
<br />at its option, may payor perform the same, and all expenditures so made shall be added to the principal sum
<br />owing on the above note, shall be secured hereby, and shall bear interest at the rate provided for in the prin-
<br />cipal indebtedness until paid.
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<br />7, Upon request of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notes
<br />for the Bum or Bums advanced b)' MortgaKee for the alteration, modernization or improvement made at the
<br />Mortgagor's request; or for maintenance of said premises, or for taxes or assessments against the same,
<br />and for any other purpose elsewhere authorized hereunder, Said note or notes shall be secured hereby
<br />on a paritr with and as fully as if the advance evidenced thereby were included in the note first described
<br />ebove, Said supplemental note or notes shall bear interest at the rate provided for in the principal indebt-
<br />edness and shall be payable in approximately equal monthly payments for such period as may be agreed
<br />upon by the Mortgagee and Mortgagor, Failing to agree on the maturity, the whole of the sum or sums
<br />so advanced shall be due and payable thirty (30) days after demand by the Mortgagee. In no event shall
<br />the maturity ex1And beyond the ultimate maturity of the note first described above.
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<br />8. Hel she hereby assigns, transfers and sets over (Q the Mortgagee, (Q be applied toward the payment
<br />of the note and all sums secured hereby in case of a default in the performance of any of the terms and con-
<br />ditions of this Mortgage or the said note, all the rents. revenues and income to be derived from the mort-
<br />gaged premises during such time as the mortgage indebtedness shall remain unpaid; and the Mortgagee
<br />shall have power to .appoint any agent or agents it may desire for the purpose of renting the same and
<br />collecting the rents, revenues and income, and it may payout of said incomes all necessary commissions
<br />and expenses incurred in renting and managi ng the same and of collecting rentals therefrom; the balance
<br />remaining, if any, to be applied toward the discharge of said mortgage indebtedness,
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<br />9. Helshe will continuously maintain hazard insurance, of such type or types and amounts a.s the
<br />Mortgagee may from time to lime ~uire, on the improvements now or hereafter on said premises, and ex-
<br />cept when payment forallsucb Prenuums has theretofore been made under (a) of paragraph 2 hereof, will
<br />pay promptly when due any premiwmlherefor. Upon default thereof, Mortgagee may pay the same. All in-
<br />surance shall be carried in companies approved by the Mortgagee and the poliCIes and renewals thereof shall
<br />be held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form
<br />acceptable to the Mortgagee. In event of loss Mortgagor will gin' imml'diate notice by mail to the Mort-
<br />gagee, who may make proof of loss if not made promptly bj' Mortgagor. and each insurance company
<br />concerned is hereb)' authorized and directed to make payment for such loss directly to the Mortgagee
<br />instead of to the Mortgagor and the Mortgagee jointly, and the insurance proceeds, or any part thereof.
<br />may be applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured
<br />or to the restoration or repair of the propert~. damaged. In event of foreclosure of this mortgage, or other
<br />transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all
<br />right, title. and interest of the Mortgagor in and to any insurance policies then in force shaIl pass to the
<br />plirchaser or grantee,
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<br />10. As additional and collateral security for the payment of the note described, and all sums to become
<br />due under this mortgage, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, r~ve-
<br />nues, royalties, rights and other benefits accruing to the Mortgagor under any and all oil and gas leases
<br />now. or during the life uf this mortgage. exe(:uted on said premises, with the right to receive and receipt
<br />for the same and apply them to said indebtedness as well before as after default in the conditions of this
<br />mortgage, and the Mortgagee may demand, sue for and recover any such payments when due and payable.
<br />but shall not be required so to do. This assignment is to t.erminate and become null and void upon release
<br />of this mortgage.
<br />11. Hel she shall not commit or permit waste; and shall maintain the property in as good condition as
<br />at pres.-'Ilt, reasonable wear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br />may cause reasonable maintenance work to be performed at the cost of Mortgagor. Any lUllounts paid
<br />therefor by Mortgagee sball bear interest at the rate provided for in tbe principal indebtedness, shall
<br />thereupon become a part of the indebtedness secured by this instrument, ratably and on a parity with all
<br />other indebtedness secured hereby, and shall be payable thirty (30) days after demand.
<br />12, He / she will nor execute or file of record any instrument wh ich imposes a restriction upon the sale
<br />or occupancy of the propcny described herein on the basis of race, color or creed.
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<br />13. If thp premises, or any part thereof, be condemned under the power of eminent domain, or acquired
<br />for 11 public use, the damages awarded. the proceeds for the taking of, or the consideration for such
<br />acquisItion, m the extent of the full amount of the remaining unpaid indebtedness secured by this mort-
<br />gage, are hereby assigned to the Mortgagee, and shall be paid forthwith to said Mortgagee, to be ailplied
<br />on account of the last maturing installments of such indebtedness.
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<br />14. If the Mortgagor fails to make any payments when due, or to conform t.o and comply with any
<br />01 the conditions or agreements contained in this mortgage, or the notes which it secures. or if the Mort-
<br />gagor be adjudicated bankrupt or made defendant in a bankruptcy or receivership p~diTlg, then the
<br />entire principal sum and accru@d interest shall at once become due and payable, at the plert.ion of the Mort-
<br />psee; and this mortgage may thereupon l>E' fOJ'{'CloIIed immediately for the whole of t.he indebt~rlne!lS
<br />hereby ~urt'd, including the r.o.llt of extending the abstract of tiUe from t.he date of l.his mortll'alle to t.hl'
<br />time of' commencing lIuch suit, a reasonable attorneY'1I fee. and any Bumll paid by thl' Veterans AdminiRt.ra-
<br />Uon on account or tile guaranty or insurance of the indebtedness !leCuTed }wT,'h}', all of ",hidl !<hull 1)('
<br />includl"d Jrl OU! df.'Cree {If rOnlC1011ure,
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<br />11.. Title 38 United St&tee Code, &lid the Regull.tions i&llued thereunder shall ~)Vern I,he rights, dutif's
<br />and liAbllitiflll af thll part!flI hereto, and any provisions of this or other instrumenll< "l{l'Cul("(i in connt"dinn
<br />",ith uJd irtdt'bt.edneaa whieh aN' inconlliJltent willI Ilaid Title or Regulatiulls I1re h(,rt>b}' &Jtll'lldPli IUIII
<br />&Ul1rtlfOmf'ntA'd to oonfonn th"n<!w,
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