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87- 101720
<br />the property otherwise after default, the Mortgagee shall apply, at the time of the commencement of such
<br />proceedings, or at the time the property is otherwise acquired, the amount then remaining to credit of
<br />Mortgagor under (a) of paragraph 2 preceding, as a credit on the interest accured and unpaid and the
<br />balance to the principal then remaining unpaid on said note.
<br />4. The lien of this instrument shall remain in full force and effect during any postponement or exten-
<br />sion of the time of payment of the indebtedness or any part thereof secured hereby.
<br />5. He will pay all ground rents, taxes, assessments, water rates, and other governmental or municipal
<br />charges, fines, or impositions, levied upon said premises and that he will pay all taxes levied upon this
<br />mortgage, or the debt secured thereby, together with any other taxes or assessments which may be levied
<br />under the laws of Nebraska against the Mortgagee, or the legal holder of said principal note, on account of
<br />this indebtedness, except when payment for all such items has theretofore been made under (a) of para-
<br />graph 2 hereof, and he will promptly deliver the official receipts therefor to the Mortgagee. In default
<br />thereof the Mortgagee may pay the same.
<br />6. If he fails to pay any sum or keep any covenant provided for in this Mortgage, the Mortgagee, at
<br />its option. may pay or perform the same, and all expenditures so made shall be added to the principal sum
<br />owing on the above note, shall be secured hereby, and shall bear interest at the rate provided for in the
<br />principal indebtedness until paid.
<br />7. Upon request of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notes
<br />for the sum or sums advanced by Mortgagee for the alteration, modernization or improvement made at the
<br />Mortgagor's request; or for maintenance of said premises, or for taxes or assessments against the same,
<br />and for any other purpose elsewhere authorized hereunder. Said note or notes shall be secured hereby
<br />on a parity with and as fully as if the advance evidenced thereby were included in the note first described
<br />above. Said supplemental note or notes shall bear interest at the rate provided for in the principal indebt-
<br />edness and shall be payable in approximately equal monthly payments for such period as may be agreed
<br />:non by the Mortgagee and Mortgnoo . Failing to agree on the maturity, the whole of the sum or sums
<br />so advanced shall be due and payable thirty (?^) days after demand by the Mortgagee. In no event shall
<br />the maturity extend beyond the ultimate maturity of the note first described above.
<br />S. He hereby assigns, transfers and sets over to the Mortgagee, to be applied toward the payment of
<br />the note and all sums secured hereby in case of a default in the performance of any of the terms and con-
<br />ditions of this Mortgage or the said note, all the rents, revenues and income to be derived from the mort-
<br />gaged premises during such time as the mortgage indebtedness shall remain unpaid; and the Mortgagee
<br />shall have power to appoint any agent or agents it may desire for the purpose of renting the same and
<br />collecting the rents, revenues and income, and it may pay out of said incomes all necessary commissions
<br />and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance
<br />remaining, if any, to be applied toward the discharge of said mortgage indebtedness.
<br />3. He will continuously maintain hazard insurance, of such type or types and amounts as the Mort-
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<br />gagee may from time to time require, on the improvements now or hereafter on said premises, and except
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<br />when payment for all such premiums has theretofore been made under (a) of paragraph 2 hereof, will pay
<br />promptly when due any premiums therefor. Upon default thereof, Mortgagee may pay the same. AU
<br />insurance shall be carried in companies approved by the Mortgagee and the policies and renewals thereof
<br />shall be held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form
<br />acceptable to the Mortgagee. In event of loss Mortgagor trill give immediate notice by mail to the Mort-
<br />who may make of loss if not made promptly by Mortgagor, and each insurance company
<br />gagee, proof
<br />concerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee
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<br />instead of to the Mortgagor and the Mortgagee jointly, and the insurance proceeds, or any part thereof,
<br />may be applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured
<br />or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage, or other
<br />transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all
<br />right, title and interest of the Mortgagor in and to any insurance policies then in force shall pass to the
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<br />purchaser or grantee.
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<br />10. As additional and collateral security for the payment of the note described, and all sums to become
<br />due under this mortgage, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, reve-
<br />nues, royalties, rights and other benefits accruing to the Mortgagor under any and all oil and gas leases
<br />now, or during the life of this mortgage, executed on said premises, with the right to receive and receipt
<br />for the same and apply them to said indebtedness as well before as after default in the conditions of this
<br />mortgage, and the Mortgagee may demand, sue for and recover any such payments when due and payable,
<br />but shall not be required so to do. This assignment is to terminate and become null and void upon release
<br />of this mortgage.
<br />11. He shall not commit or permit waste; and shall maintain the property in as good condition as at
<br />present, reasonable wear and tear excepted. Upon any failure io so maintain, Mortgagee, at its option.,
<br />may cause reasonable maintenance work to be performed at the cost of Mortgagor. Any amounts paid
<br />therefor by Mortgagee shall bear interest at the rate provided for in the principal indebtedness, shall
<br />thereupon become a part of the indebtedness secured by this instrument, ratably and on a parity with all
<br />other indebtedness secured hereby, and shall be payable thirty (30) days after demand.
<br />12_ He will not execute or file of record any instrument which imposes a restriction upon the sale or
<br />occupancy of the property described herein on the basis of race, color or creed.
<br />13. If the premises, or any part thereof, be condemned under the power of eminent domain, or acquired
<br />for s public the damages awarded. the pr nced c for the taking of or the consideration for
<br />acquisition, to the extent of the full amount of the remaining unpaid indebtedness secured by this mort-
<br />gage, are hereby assigned to the Mortgagee, and shall be paid forthwith to said Mortgagee, to be applied
<br />on account of the last maturing installments of such indebtedness.
<br />14. If the Mortgagor fails to make any payments when due, or to conform to and comply with any
<br />of the conditions or agreements contained in this mortgage, or the notes which it secures, or if the Mort-
<br />gagor be adjudicated bankrupt or made defendant in a bankruptcy or receivership proceeding, then the
<br />entire principal sum and accrued interest shall at once become due and payable, at the election of the Mort-
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<br />gagee ; and this mortgage may thereupon be foreclosed immediately for the whole of the indebtedness
<br />hereby secured, including the cost of extending the abstract of title from the date of this mortgage to the
<br />time of commencing such suit, a reasonable attorney's fee, and any sums paid by the Veterans Administra-
<br />tion on account of the guaranty or insurance of the indebtedness secured hereby, all of which shall be
<br />included it,, the decree of foreclosure.
<br />15. Title 3$ United States Code, and the Regulations issued thereunder shall govern the rights, duties
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<br />and liabilities of the parties hereto, and any provisions of this or other instruments executed in connection
<br />with said indebtedness which are inconsistent with said Title or Regulations are hereby amended and
<br />supplemented txf conform thereto.
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