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<br />88- 108130
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<br />made shall be added to the principal sum owing on the above
<br />notc, shall be secured hereby, Bnd shall bear interest at the rale
<br />.el rorth In Ihe .aid nOle, unlil paid.
<br />
<br />7. That the MonNor hereby assigns, transfers and sels over
<br />10 the Mortgagee. 10 be applied toward the payment of the nole
<br />and all sums leaued hereby in case of a default in the perfor.
<br />mance of any of the tcnns and conditions of this mortgage or the
<br />said note, all the rents. revenues Bnd income to be derived from
<br />the mortgaged premises during such time as the mortgage in.
<br />dcbtedness shall remain unpaid, and the Mortgagee shall bave
<br />power to appoint any agent 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 it may payout of
<br />said incomes all expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom; the balance remaining,
<br />if any, to be ar;plied toward the discharge of said mortgage
<br />ind~btedness.
<br />
<br />8. That the Mortgagor wil1 keep the improvements now ex-
<br />isting or hereafter erected on the mongaged propeny, insured as
<br />may be required from time to time by the Mongagee against 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 />gage.:! and wil1 pay promptly, when due, any premiums on such
<br />insurance provision for payment of which has not been made
<br />h;reinbdorc. All insuran" shall be: c;arril:d in companies ap-
<br />proved by the Mortgagee and the policies and renewals thereof
<br />.hall be held by the Mortgagee and have anached therelo 1055
<br />payable clauscs in fsyor of and in fonn acceptable to the MorR
<br />tgagee. In event of loss Mortgagor will give immediate notice by
<br />mail to the Mortgagee, who may make proof of loss if not made
<br />promptly by Mortgagor, and each insura.nce company concerned
<br />is hereby authorized and directed to make payment for such 1055
<br />directly to the Mortgagee instead of to the Mongagor and the
<br />Mortgagee: jointly, and the insurance proceeds, or any part
<br />thereof, may be applied by the Mortgagee: at its option either to
<br />the reduction of the indebtedness hereby secured or to the
<br />restoration or repair of the propeny damaged. In event of
<br />Coreclosure of this mortgage or other transfer of title to the mor~
<br />19a9ed property in extinguishment of the indebtedness secured
<br />hereby, all right, title and interest of the Mortgagor in and to
<br />any insuran~ policies then in force shall pass ta the purchaser or
<br />
<br />srantcc. .'
<br />_----'- :::-1
<br />9. ThaI.. addltloiiAi:;';;-16 ',~11Ic payment
<br />or Ihe note described. II\Id all er Ihi.
<br />mortgage, the MortsBSor ' ee all
<br />profits, "evcnUCI. royalties/lii t nefits accruing 10 the
<br />Mortpaur under any and all oil and gas leases on said premises,
<br />with the riahl to receive and receipt for the same Bnd apply them
<br />to said indebtedness as well before as after default in the condi-
<br />tions of this mortSBge. and the MortSagec may demand, sue for
<br />and recoyer any such payments when due and payable, but shall
<br />not be required 50 to do. This assignment is to terminate and
<br />become null and void upon release of L'tis mortgage.
<br />
<br />la wltDaB whereof the Mortgagor(s) ha ve
<br />In presence of:
<br />
<br />hereunto set
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<br />10, That Ihe Mortgagor will keep the building. upon .aid
<br />premises in good repair, and neither commit nor permit waste
<br />upon said land, nor suffer the said premiscs to be used for any
<br />unlawful purposc.
<br />
<br />II. That if (he premises, or any pall thereof, be condemned
<br />under the power of eminent domain, or acquired for a public
<br />use, the damages awarded, (he proceeds for the takins of, or the
<br />consideration for such acquisition, to \he extent of the fuU
<br />amount of indebtedncss upon this mortgage and the note which it
<br />is given to secure remaining unpaid, are hereby assigned by the
<br />Mortgagor to the Mortgagee. and shalJ be paid forthwith to said
<br />Mortgagee to be applied by the latter on account of the ncxt
<br />maturing installments of such indebtedness.
<br />
<br />12. The Mortgagor further agrees that should this martgage
<br />and the note secured hereby not be eligible for insurance under
<br />the National Housing Act within days
<br />
<br />from the date hereof (written statement of any officer of the
<br />
<br />Department of Housing and Urban Development or authorized
<br />
<br />agent of the Secretary of Housing and Urban Development dated
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<br />subsequent to the days' time from the date
<br />of this mortgage, declining to insure said note and this mortgage,
<br />being deemed com:lusive proof of such ineligibility), the Mor-
<br />tgagee or holder of the note may, at its option, declare all sums
<br />secured hereby immediately due and payable.
<br />
<br />13. That if the Mongagor falls 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 asrecments 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 election of the Mortgagee; and this mortgage may
<br />thereupon be foreclosed immediately for the whole of said
<br />money, interest, monthly payments, costs, ground rentl, taxes
<br />and Ihe co'1 or e,,,endlng Ihe ab.lracl or litle from Ihe dale or
<br />this loan to the time of commencing such foreclosure suit. and a
<br />reasonable attorney's fee, all of which shall be included in the
<br />decree of foreclosurej and the contract embodied In this mortgage
<br />and the note secured hereby, shall in aU respects be governed,
<br />construed and adjudged by the laws of Nebraska, where the same
<br />Is made.
<br />
<br />The covenant. herein contained .hall bind. and Ihe benefilS
<br />and advantagcs shall inure to, the respective heirs, executors, ad-
<br />ministrators, successors, and assigns of the parties hereto.
<br />Whencyer used, the singular number shall include the plural, the
<br />plural the singular, and the use of any gender shall include aU
<br />genders.
<br />
<br />The foregoing conditions, all and singular, beiDS performed ac-
<br />cording to their natural and legal import, this conveyance shall
<br />be void and said premises released at the expense of the Mon-
<br />gagor; otherwise to be and remain in full force and effect.
<br />
<br />their hand(s) the day and year rust abovc written.
<br />
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