|
made SW he added to the principal sum owing on the above
<br />be secured hereby. and Shall bear interest at the rate
<br />forth in "go saw tee, "Atli paid..
<br />S. That the Mortgagor will keep the improvements now ex-
<br />ar hentafter erected on the mortgaged property, insured as
<br />may be requltad from time to time by the Mortgagee against loss
<br />by firs and ottar hazards, casualties and contingencies in such
<br />amounts and for such periods as may be required by the Mort-
<br />Sallee and will pay promptly, when due, any premiums on such
<br />insurance provision for payment of which has not been made
<br />hwsinbefore. All insurance shall be carried in companies ap-
<br />proved by the Mortsftft and the policies and renewals thereof
<br />shall be held by the Mortgagee and have attached thereto loss
<br />payable claw in favor of and in form acceptable to the Mor-
<br />tgave. In event of loss Mortgagor will give immediate notice by
<br />mail to the Mortgagee, who may make proof of loss if not mad,-
<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 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 malgese or other transfer of title to the mor-
<br />tgaged property in extinguishment of the indebtedness secured
<br />hereby, all right, title and interest of the Mortgagor in and to
<br />any insura= policies then in forte shall pass to the purchaser or
<br />10, That the Mortgagor will keep the buildings upon
<br />Promises in good repair. and nother commit ON permit woos
<br />upon said land, am stiffer the KW premises; to be used for any
<br />unlawful purpose.
<br />11, That if the promises. or any part thereof. be condemned
<br />under the power of eminent n, or acquired for a public
<br />use, the damages awarded. the pr_ for the reek* of, or the
<br />consideration for such , to the extent of the full
<br />arrtount of indebtedness upon this mortgage and the to which it
<br />is given to somm r unpaid, are hereby mignigil by the
<br />Mortgagor to the Morgligim, and shad be paid forthwith to mW
<br />MOFtppe to be applied by the latter on account of the twat
<br />maturing installments of such indebtedness.
<br />11 The Mortgagor further agrees that 4hould ibis mongage
<br />and the note secured hereby not be eligible for insurance undo
<br />the National Housing Act within 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 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 />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 shalt 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 />genders.
<br />The foregoing conditions, all 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 full force and effect.
<br />In wflaw whanaf the Mortgagor(s) ha ve hereunto set their hand(s) the day and year first above written.
<br />In practice of: _• _. -_y_ ✓_ -,mss (Sim]
<br />Terry A. Pederson
<br />(Seal)
<br />JO
<br />De—bra .. Pederson `�`
<br />---- ._�.._._._____.___ _.___�_.---- .--- .------- -•_ - -- _____.. leered
<br />lstwq
<br />Page 3of4
<br />In
<br />In
<br />U
<br />R
<br />
|