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<br />made shall be added to the principal sum owing on the above
<br />note, shall be secured hereby, and shaD bear interest at th~ rate
<br />set fonh in the said note. until paid.
<br />
<br />7. That the Mortgagor hereby assigns, transfers and sets over
<br />10 the Mortgagee. to be applied toward the payment of the note
<br />and aU sums IICClIred hereby in case of a default in the perfor-
<br />mance of any of the tenus and conditions of this mortgage or the
<br />said note. all the rents. revenues and income 10 be derived from
<br />the mort..led premises during such time as the mongage in-
<br />debtedness shall remain unpaid, and the Mongagee shall have
<br />power to appoint any Bsent 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 i1 may PBY out of
<br />said incomes .n expenses of repairin8 said premises and necessary
<br />commissions and expenses incurre;i in renting and managing the
<br />same and of collecting rentals therefrom; the balance remaining,
<br />if any, 10 be applied loward the discharge of said mortgage
<br />indebtedness.
<br />
<br />8. That the Monealor will keep thC' improvements now ex-
<br />iSlinll or hereafter erected on Ihe mortgaged propeny, insured as
<br />may be required from time to time by the Mortgagee against los5
<br />by fire and other hazards, casualties and contingencies in 5uch
<br />amounts and for suc.h ptTiods iL5 may be required by the Mon.
<br />galee and will pay promptly, when due. any premiums on such
<br />insurance provision for paymenl of which has not been made
<br />hereinbefore. All iruurance shall be carried in compames ap-
<br />proved by the Monpeee and the policies and renewals thereof
<br />shall be held by lhe Monlalee and have luached thorno 10..
<br />plyable dauieS in favor of and to form 8l;ceptable to the Mer.
<br />tl_lee. In evenl of Iou Monaa.or will gJ\ll' immediate' nolice by
<br />mail 10 the Mon.alee. who may make proof of 10" if not made
<br />promplJy by Monlllor, and each Insurance company concerned
<br />is hereby authorized and directed to make payment for .uch 101,'
<br />directly to the MoriS_let' 1D5Icad of 10 Ihe Mon.alor and the
<br />Mort.llt'C jointly. and the iniur.nce proceedfi. or any pan
<br />thereof, may be' applied by the Mon...et: al ill oplion either 10
<br />Ihe reduction of the indebtedness hereby iCCUred 01' to Ihe
<br />rCllefation Of repair of the propcny damqed. In evC'nI of
<br />forecJosure of this monlllle or otha IranJfn of tlllt' to lhe' mar.
<br />Ilalell propeny in exlinguishmen1 or the indebledneu secured
<br />hereby. all righl. 1111. and interest ot Ihe Monlalor in and to
<br />any insurance pollcieJ then in for~ shaD pau to the purchaKr or
<br />IlL~I<C.
<br />
<br />9. 11lal as addillonal and collalera! security for rhe paymen.
<br />of Ihe nOle deoaibed. and all ,urns to becomo due under thi.
<br />mon_. lhe Mort_r bereby aWano 10 the Monglll<< all
<br />profilJ, revenues, royalllo. rilhtl and bmefitl accruinl to Ihe
<br />Monpaor under any and all oil and psle.... on "lid prem.....
<br />wilh lhe n,hl 10 receive and receJpl for the same and apply them
<br />to said indebtedncu as ...ell before Ii after default to thr condi.
<br />lioOl of this monlllle. and the Monllll<< may demand. .uc fo.
<br />and recover any such payment. ...hen duC' and payable. hut sh.1I
<br />not be required 50 to do. Thb auiJlUt'tC11I is Ie) terminate and
<br />become DUO and void upon releue of Ihis monJIIC'.
<br />
<br />I. wU.. wllenG' (he Mon_alorts) h. Vl'
<br />
<br />hcnunto ..et
<br />
<br />In presence of:
<br />
<br />88-
<br />
<br />104560
<br />
<br />10. ThaI the Mortgalor will keop 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 thl':
<br />consideration for such acquisition, to the extent of the full
<br />amount of indebtedness upon this mongage and the note which it
<br />is given 10 secure remaining unpaid, are hereby assigned by the
<br />Mongagor 10 the Mongagee. and shall be paid fonhwith to said
<br />Mortgagee to be applied by the laner on account of the next
<br />maturing installments of such indebtedness.
<br />
<br />12. The Mongagor funher agrees that should this mongage
<br />and the note secured hereby nol be eligible for insurance under
<br />the National Housing Act within days
<br />from the date hereof ~wriuen stalement of any officer of the
<br />Departmont of Housing and Urban Development or authorized
<br />agent of the Secretary of Housing and Urban Devclopmen! daled
<br />subsequent to the days' time from the date
<br />of tbis mongag.e. declining to insure said note and this man,Ale.
<br />being deemed conclusive proof of such inelilibility), the Mor.
<br />tgagce or holder of the note may, at it. option. declare all sums
<br />secured hereby immediately due and payable.
<br />
<br />I J. That If Ihe Monlalor fails 10 make any palmen15 of
<br />money when the same become due. or fails 10 conform to and
<br />comply with any of Ih: conditions or I.reemcnls contained in
<br />Ihu, manel.e, or the note ....hich il '<<urn, Ihcn the entire prin-
<br />opal lum and accrued internt ,haJJ al once become due and
<br />payable, al the election of Ihe Murtlllee; and this mon...e may
<br />lhereupon be fmccloicd Immediatcly ror the whole of said
<br />money, mfen:"I. monlhly payment.. costs, ground rcnu. taxes
<br />and Ihe COlt of eXlendlnlthe abstract of lille from the dale of
<br />lha. loan to Iht' time of commcncm. luch foreclosure IUit. and a
<br />reaJonable InorneY'1 fee. .11 of 1,\"hich shall be induded in the
<br />dccrer of foreclosure; and Ihe contrict embodied in this mon..,c
<br />and Iho no,o secured hereby. .hall In all mpeas be governed.
<br />...-on5lrued and adJud.ed by the lawI of Nebraska. where tbe AIM
<br />as made.
<br />
<br />The oovenan.. herein oonlained shall bind. and the beneli..
<br />and advantqo ,haU Inure to, tM rnpective heiR. aecuton. ad.
<br />ministraton. liiUccaiOD. and &Jli.nl of the parties 11er'rn:J.
<br />Whenever used. the singular number ,hall include lhe plural. the
<br />plurallhe singular. and Ihe uoe of any gonder ,holl include all
<br />.mdcn.
<br />
<br />The forc.olO, conditions. all and lin.ulu. beillJ performed ac-
<br />cordm. 10 Iheir natural and lepl impon. this conveyance shall
<br />be ~oid and Rid premises rclcued al the apense or the Mon.
<br />gasor; otherwise (0 be and remain in full force and effect..
<br />
<br />t h l' i..r ~nd(,) the day and year finl above wriuen.
<br />!t.-~-<!,..ld.! '7 ~~ I_I
<br />. Donald J. Tawrerfc~
<br />I-I
<br />
<br />'-I
<br />
<br />I-I
<br />
<br />~""'--'~1~~ J ,~~~_:~'2A-., f""
<br />MBr~Tet S. Lawrence
<br />
<br />I-I
<br />
<br />P_301~
<br />
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