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<br />,') 87- 106587
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<br />clause. in ravor of and in form acceptable to the MortgBsee. In
<br />event of 1011 Monsasor will sive immediate notice by mail to the
<br />Monpaee. who may make proof of 1055 If not made promptly
<br />by Monp,sor I and each insurance company concerned is hereby
<br />authorized and directed to make payment for such los!j directly to
<br />the Mortsaaee instead of to the Mortsasor Bnd the Mortgagee
<br />jointly, and the insurance proceeds. or any part thereof, may be
<br />EppIied by the Mortgagee at its option either to the reduction of
<br />tbe indebtedness bereby secured or to the restoration or repair of
<br />)thC property damaged. In event of foreclosure of this mort.age
<br />or other transfcr of title to the said premises in extinguishment of
<br />the indebtedness '....red hereby, all righI, title and intere't of the
<br />MonS88or in and to any insurance paUties then in force shall
<br />pw to the purchaser or grantee.
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<br />9. That 81 additional and collateral security for the payment
<br />/ of the note described, and all sums to become due under this
<br />monpsc, the MartgBlor hereby assigns to the Mortgagee all
<br />profits, revenues, royalties, rights and benefits accruing to the
<br />. Mortgagor under any and aU oil and Bas leases on said premises,
<br />with the right to receive and receipt for the same and apply them
<br />to said indebtedness as well before as after default in the condi.
<br />tions of this mortgage, and the Mortgagee may demand. sue for
<br />and recover any such payments when due and payable. but shall
<br />not be required so to do. This assignment is to terminate and
<br />become null and void upon release of this mortgage.
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<br />lO. That the Mortgagor wiD keep the buUdings upon said
<br />premises in good repair, and neither commit nor permit WIl5[e
<br />upon said land, nor suffer the said premises to be used for Bny
<br />unlawful purpose.
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<br />11. That if the premises, or any part thereof. be condemned
<br />under the power of eminent domain, or acquired for a publlc
<br />use. the damages awarded, the proceeds for the taking of, or the
<br />consideration for such acquisition, to the CJltent of the full
<br />amount of indebtedness upon this mortgqe and the note which il
<br />is given to secure remaining unpaid, arc hereby assigned by the
<br />MortglBor 10 the MortSlBee, and ,hall be paid forthwith 10 ,aid
<br />Mortgagee to be applied by the latter on account of the next
<br />maturing installments of such indebtedness.
<br />
<br />I. ..1_ ..b.....r the Mortsagor(,) ~
<br />In presence of:
<br />
<br />hereunto set
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<br />. T ~ortgagor further agrees thai should this mortgBge
<br />and the nOle secured hereby not be eJJgible for insurance under
<br />the National Housing Act within days
<br />
<br />from the date hereof (written stateAt\nt of an officer of the
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<br />Department of Houslns and Urban Development or authorized
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<br />agent of the Secretary of Housing and Urban Development daled
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<br />~~~h~u~~trtl:a:~ declfiRng 10 insure said ~~~ ~~et~~~~~~~s::~~
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<br />beinS deemed conclusive proof of such ineligibility), the Mort~
<br />gagee or holder of Ihe note may, at its oplion, declare all sums
<br />secured hereby Immediately due and. payable. Notwithstandlns
<br />the roreaoinS, this option may not be CJlm:iscd by the holder of
<br />the note when the ineligibility for insurance under the National
<br />Houslns Act is due to the Mortsagee's failure to remit the Mort~
<br />gage Insurance Premium to the Department of Housing and
<br />Urban Development.
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<br />13. That if Ihe Mortgagor 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 agreements contained in
<br />this mortgage. or Ihe note which it secures. then the entire prin-
<br />cipal sum and accrued inlerest shall at once become due and
<br />payable, at the election of Ihe 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 the cost of CJltending the abstract of title from Ihe date of
<br />this loan 10 the time of commencing such foreclosure suit, and a
<br />reasonable auorney's f~, all of which shall be included in the
<br />d"ree of foreclosure; and the contract embodies in this mortgage
<br />and the note secured hereby, shall in all respects be governed.
<br />construed and adjudged by the laws of Nebraska, where the same
<br />is made.
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<br />The covenants herein contained shall bind, and the benefits
<br />and advantages shall inure 10. the respective heirs. executors.
<br />administrators, successors, and assigns of the panies hereto.
<br />Whenever used, the slnguiar number shall include the plural. the
<br />plural the sinsular. Bnd the use of any gender shall include all
<br />genders.
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<br />The foregoing conditions. ail and singular. being performed
<br />accordlns to their natural and legal import, this conveyance shall
<br />be void and said premises released at the CJlpensc of the Mon.
<br />gasor; otherwise to be and remain in full force and effect.
<br />
<br />thlir
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<br />hand(s) the day and year first above written.
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<br />,. .
<br />-', /,;;.; L AI /i/ct~1-,,-?
<br />'"'~s. W1LL1:L '
<br />,iy' j ~)/ . ultlLi '(j)JJu,,)
<br />SAHIIY s. W IIIIS
<br />
<br />(5..1)
<br />
<br />(Seal)
<br />
<br />[Seal)
<br />
<br />(Seal!
<br />
<br />(Selll
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<br />HUD-92143M'1
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<br />paae 3 01 ..
<br />
<br />t . t! ~) r.
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