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<br />86-108910
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<br />RE.RECORDED
<br />88- 107037
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<br />made shall be added 10 tl1~ ~"inc!pal sum ow:"',g on the above
<br />note, shall be secured hert"~''lj. r:ri-;; ~hall besr Int~rcst at the rate
<br />scl forth in the said note. u.~ ':' plild.
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<br />7 _ That the Mortgagor Itcfcby wslgos, transfers and sets over
<br />to the Mongagee, to be applied loward the paymenl of the nnte
<br />and Bll ,ums secured hereby in case of a default in the perfor-
<br />mance of any of the terms and conditions of this mortgage or the
<br />said nOlc, all the rents, revenues and income to be derived from
<br />the mortgaged premises during such time as the mortgage in-
<br />debtedness shBll remain unpaid, and Ihe MOrlsasee shan have
<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, rev.enucs and income, and it may pay OUI of
<br />said incomes all expenses of repairing said premises and nccc3sary
<br />commissions and expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom: the balance remaining,
<br />if any, 10 be applied loward the dlscharse of said mortsase
<br />indebtedness.
<br />
<br />8. That the Mortgagor will keep the Improvements now eX~
<br />istinB or hereafter erected on the mortgaged propeny; insured as
<br />may be required from time 10 lime by Ihe Morlsasce asainst loss
<br />by fire and other hazards, casualties and contingel'lcies in such
<br />amounts and for such periods as may be required by the Mort-
<br />gagee and will pay promptly, when due, any premiums on such
<br />insurance provision for payment of which has not been made
<br />hereinbefore. All insurance shall be carried in companies ap-
<br />proved by the Mortgagee and the policies and renewal, thereof
<br />,hail be held by Ihe MonSagee and have allached lhereto loss
<br />payable clauses in favor of and in form acceptable to the Mor-
<br />tgagee. In event of loss Mortgagor wiD give immediate notice by
<br />mail to the Mortgagee, who may make proof of loss if not made
<br />promptly by Mortgagor, and each insurance company concerned
<br />is hereby authorized and directed to make payment for such loss
<br />directly 10 the Mortsagee inslead of to the Mortsasor and lhe
<br />Mortgagee jointly, and the insurance proceeds, or any part
<br />thereof, may be applied by the Mortsasee at its optiOD eilher to
<br />the reduction of the indebledness hereby secured or to lhe
<br />reslOration or repair of the propeny damased. In event of
<br />foreclosure of this monsase or other lransfer of liUe to the mar.
<br />tgaged property in extinguishment of the indebtedness secured
<br />hereby, all right. title and interest of the Mortgagor in and to
<br />any insurance policies then in force shall pass to the purchaser or
<br />grantee.
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<br />9. That as additional and conateral security.for the payment
<br />of the nole described, and BlI sums lo'bcc!oniecdue under this
<br />monsage, the Mongagor hereby assisns to 'the MortllBSee BlI
<br />profits, revenues, royalties, rights and benefits accruing to the
<br />Mortsasor under any and BlI oil and gas leases on said premises,
<br />with the right to receive and receipt for the same and apply them
<br />to ,aid indebledness as weU 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 temlinate and
<br />become null and void upon release of this mortgage.
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<br />ID witness whereof Ihe Mongagorls) ha ve
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<br />hereunto set
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<br />In presence of:
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<br />10. Tha' the Mortgasor will keep the buUdlnss upon .aid
<br />premises In good repillr, and neither commit nor permit waste
<br />upon said land, nor Buffer the said premises to be used for any
<br />unlawful purpose.
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<br />II. That if Ihe premises, or any pan thereof, be condemned
<br />under be power of eminenl domain, or acquired for a public
<br />'..Jse, the damages awarded. the proceeds for the taking of, or the
<br />consideration for such acquisi!lon, to the extent of the full
<br />amount of indebtedness upon this mortgage and the note which it
<br />is given to secure remaining unpaid, arc hereby assigned by the
<br />Monsasor 10 the Monsasee, and ,haUbe paid forthwilh 10 said
<br />Mortgagee to be applied by the latter 011 account of the next
<br />maturing installments of such indebtedness.
<br />
<br />12. The Mortgagor further agrees that should this mortgGge
<br />and the note secured hereby not be eligible for insurance under
<br />lhe NationBl Housins Act within 1 BO days
<br />from the date hereof (written statement of any officer of the
<br />Department of Housing and Urban Development or authorized
<br />asent of Ihe Secretary of Housins and Urban Development daled
<br />subsequent to the 180 days' time from the date
<br />of this mortgage, declining to insure said note and this mortgage,
<br />being deemed conclusive 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 Mortsasor fail, to malee any paymeDts of
<br />money when the same become due, or fails to confono to and
<br />comply with any of the conditions or agreements contained in
<br />this mortgage, or the note which it securcs, then the entire prin-
<br />cipal sum and accrued interest shaH at once become due and
<br />payable, at the electioD of the Monsasr:e; and this monsase may
<br />thereupon be foreclosed immediately for Ihe whole of said
<br />money, interest, monthiy payments, costs, ground rents, taxcs
<br />and the cost of eXlendins the abstract of liUe from the date of
<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 foreclosure; and the contract embodied in this mortgage
<br />and the note secured hereby, shaH in all respectS be governed,
<br />construed and adjudsed by lhe 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 to, the respective heirs, executors, ad-
<br />ministrators, SUCCeSsors, and assigns of tbe parties hereto.
<br />Whenever used, the singular number shall include the plural, the
<br />plurBl the ,insular, and Ihe use of any sender ,hall ioclude all
<br />genders.
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<br />The foregoing conditions, aU and singular, being 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 Mort.
<br />gagor; otherwise to be and remain in ruIl force and effect.
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<br />hand(s) the day and year first above wrillen.
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