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<br />made shall be added to the principal sum owing on the above
<br />note, shall be secured hereby, and shall bear interest at the rate
<br />set forth in the said note, until paid.
<br />7. That the Mortgagor hereby assigns, transfers and sets over
<br />to the Mortgagee, to be applied toward the payment of the note
<br />and all stuns secured hereby in case of a default in the perfor-
<br />mance of any of the tetras and conditions of this mortgage or the
<br />said note, all the rents, revenues and income to be derived from
<br />the mortgaged premises during such time as the mortgage in-
<br />debtedness shall remain unpaid, and the Mortgagee shall 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, revenues and income, and it may pay out 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 applied toward the discharge of said mortgage
<br />indebtedness.
<br />S. That the Mortgagor will keep the improvements now ex-
<br />isting or hereafter erected on the mortgaged property, insured as
<br />may be required from time to time by the Mortgagee against loss
<br />by fire a-d other hazards, casualties and contingencies 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 renewals thereof
<br />shall be held by the Mortgagee and have attached thereto loss
<br />payable clauses in favor of and in form acceptable to the Mor-
<br />tgagee. In event of Ion 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 insurance company ooncertwd
<br />is hereby authorized and directed to snake payn.rnt for such loss
<br />directly to the Mortgage instead of to the Mortgagor 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 property damaged. in event of
<br />foreclosure of this tortgage or other transfer of title to the mor-
<br />tiaged property in extinguishment of the indebtedness secured
<br />hereby, all right, title and imteresc of the Mortgagor in and to
<br />any insurance policies there in fora shall pans to the purchaser or
<br />grantee.
<br />9. That as additional and collateral security for the payment
<br />of the note and stuns All st to become due under this
<br />mottga d hereby assigns to the Mortgagee an
<br />profks, tYiw j*r4W* N:s, rights and benefits accruing to the
<br />Mortgsior uAft aisy.and an oil and gas leases on said premises,
<br />with the tight 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 die and payable, but shall
<br />not be requited so to do. This assignment is to terminate and
<br />become nun and void upon release of this mortgage.
<br />t 87-- 101211
<br />10. That the Mortgagor will keep 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 />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 the
<br />consideration for such acquisition, 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, are hereby assigned by the
<br />Mortgagor to the Mortgagee, and shall be paid forthwith to said
<br />Mortgagee to be applied by the latter on account of the next
<br />maturing installments of such indebtedness.
<br />IZ. The Mortgagor further agrees that should this mortgage
<br />and the note secured hereby not be eligible for insurance under
<br />the National Housing Act within 60 days days
<br />from the date hereof (written statement of any officer of the
<br />Department of Housing and Urban Development or authorized
<br />agent of the Secretary of Housing and Urban Development dared
<br />subsequent to ter 60 days days' time from the date
<br />of this age, 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** See Below
<br />1_ That if the Mortgagor rails 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, of the mte which it secures, then the entire prin-
<br />cipal sum and ac4'rued mte:est shalt at once become due and
<br />payable, at the ekcrion of the Mortgagee; and this mortgage may
<br />thereupon be foreclosed immediately for the whole of said
<br />mosey. mteres, monthly payments. costs, ground rents, taxes
<br />and the cost at extcucfiug the abstract of rick from the date of
<br />this ions to the rinse of comment such foredostre suk, and a
<br />reasoaabk anoruey's fee, all of which shall be included in the
<br />decree of foreclosure, and the contract embodied in this mortXe
<br />and the Date serried hereby, shall in all respects be governed,
<br />construed and adjudged by the laws of Nebraska, where the same
<br />is made.
<br />Tie wsssaas ham tom sham bind, and the benefits
<br />and advantages shall imre to, the raspective heirs, exacta s. ad-
<br />meustrntors. successors, and assigns of the parties herao-
<br />Whemem e»d, the sib number shall imdude the phra), the
<br />phoW tie . ind the use of any gender shall include an
<br />genders.
<br />T-he foregoing rxmditioas all and singular. being performed ac-
<br />cording to theeir natural and legal import. this conveyance shall
<br />be void and said premises released at the expense of the Mort -
<br />gaior; otherwise to be and remain in fun force and effect-
<br />I■ wider wboneat the Mortgagor(s) his ve hereunto see -_'thff i r h dish the day and year first above written.
<br />e-on nay net be exercised by the
<br />the ineligibilty for � [seal
<br />insurance under the National Housing Act
<br />is tux to the mortgagee's failure to Z Iseall
<br />remit the mortgage insurance and Urns A t � f�f
<br />to the mepartaYeni of Housing and Urban --'— E
<br />Dowel olxaent, CONMY
<br />(seal
<br />[semi]
<br />Pape 3 of a
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