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r <br />87-, 1D24ca9 <br />made shall be added to the principal sum owing on the above <br />note, tdrau be secured hereby. and shall bear interest at the rate <br />W forth in the said note, until paid. <br />7' That the MonNtor hereby assigns, transfers and sets over <br />to the Mortgagee, to be applied toward the payment of the note <br />d an assts -cured hereby in case of a default in the perfor- <br />mance of any of the terms and conditions of this mortgage or the <br />note, all the rents, revenues and income to be derived from <br />the monWged premises during such time as the mortgage in- <br />debtedisaiss remain unpaid, and the Mortgagee shall have <br />power to "point any agent or agents it may desire for the pur- <br />Psose of repairing said premises and of renting the same and col - <br />[ming the rents, revenues and income, and it may pay out of <br />said incomes all expenses of repairing said premises and necessary <br />and expenses incurred in renting and managing the <br />same and of collecting rentals therefrom; the balance remaining, <br />if any, 10 be applied toward the discharge of said mortgage <br />milebtednesa. <br />9- 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 fare and other hazards, casualties and contingeecies in such <br />amounts and for such periods as may be required by the Mort. <br />gagee and will pay promptly, when dux, 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 loan Mortgagor will give immediate notice by <br />mail to the Mortgagee, who may [Hake 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 to the Mortgagee instead of to the Mortgagor and the <br />Mortgagee jointly, and the insurance proceeds, or any pan <br />thereof, may be applied by the Mortgagee as its option either to <br />the redaction of the indebtedness hereby secured or to the <br />raWration or repair of the property damaged. In event of <br />foreclosure of this mortgage or other transfer of title to the mor- <br />tgaged property in extinguistunettt of the indebtedness secured <br />hereby, all right, title and interest of the Mortgagor in and to <br />any insurance policies then in force shalt Pass to the Purchaser or <br />Vurtee. <br />9. That as additional and coltate � ° <br />[ro r " <br />of the note described, and all sums ti' ' ' - <br />mortgage. the Mortgagor hereby assigns to the Mogwwj <br />P101113. revenues. royalties. rights and benefits accruing to the <br />MorigaW under any and all oil and gas leases on said premises, <br />with the right to Motive and receipt for the same and apply them <br />to amid indebtedness as well before as after default in the condi- <br />tions of this'^otWrge, 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 />null and void upon release of this mortgage. <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 />12. The Mortgagor further agrees that should this mortgage <br />and the note secured hereby not be eligible for insurance utter <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 dated <br />subsequent to the 60 days days' time from the date <br />of this mortgage, declining to insure said [tote 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 suns <br />secured hereby immediately due and payable~ See Below <br />13. That if the 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 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 rents, taxes <br />and the cost of extending the abstract of title 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, shall in all respects be governed, <br />construed and adjudged by the laws of Nebraska, where the same <br />is made. <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 the parties hereto. <br />Whenever used, the singular number shall include the plural, the <br />plural the singular, and the use of any gender shall include all <br />Senders. <br />The foregoing conditions, all and singular, fx; tg PC -formed 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 full fora and effect. <br />h sritaimas wYeref the Mottgagor(s) ha ve hereunto set the.f <br />l C�J� . he�¢fi/ the ycat first above written. <br />exa <br />may runt be exercised by the ��l/�)�Y'{\ C/ <br />n ttq inelhglDilty for <br />inaurs"Cs under the National Housing Act —T0� — — ISed1 <br />is due to the mortgagee's failure to <br />remit the mert9490 insurance premium (Sall <br />to thua Department of using and Urban -- <br />Devetopment. (yam) <br />- -- -- - -- - -- — — -- (Seal <br />POP 3 of t <br />a <br />J <br />