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Ou 101679
<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 accrued 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 effeea 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, t)re Mortgagee, at
<br />its option, may pay or perform the carne, 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 mites
<br />for the sum or sums advanced by Mortgagee for the alteration, modernization or improvement trade 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 />ednesa and shall be payable in approximately equal monthly payments for such period as may be agreed
<br />upon by the Mortgagee and Mortgagor. Failing to agree on the maturity, the whole of the sum or sums
<br />so advanced shall be due and payable thirty (30) 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 />8. 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 reinain 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 />9. He will continuously maintain hazard insurance, of such type or tl-lies and amounts as the Mort-
<br />gagee may from time to time require, on the improvements now or hereafter on said premises, and except
<br />when payment for all such premiums has theretofore been made under (a) of paragraph 2 hereof. will pat.
<br />promptly when due any premiums the *efor. Upon default thereof. Mortgagee may pay the same. .alt
<br />insurance shall be carried in companies approved by the Mortgagee and the policies and rene�. als thereof
<br />shall be held by the Mortgagee and have attacht —A thereto loss payable clauses in favor of and in form
<br />acceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice far mail to the Mort-
<br />gagee, who may make proof of loss if not made promptly by Mortgagor, and each irrsurancc company
<br />concerned is hereby authorized and directed to snake payment for such loss directly to the Mortgagee
<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 fore,-losure of this mortgage, or other
<br />transfer of title to the mortgaged properth 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
<br />purchaser or grantee.
<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, proiits, reve-
<br />nues, royalties, rights and other benefits accruing to the Mortgagor under any and all oil and gas ]cases
<br />now, or during the life of this mortgage, executed on said premises, %+ :tit 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 anti 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 to 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 ttie power of ern inent domain, or acquired
<br />for a public use, the damages awarded, the proceeds for the taking of, or the consideration for such
<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 Ice paid forthwith to said Mortgagee, to be t,)plied
<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 complc tcith any
<br />of the conditions or agreements contained in this mortgage, or the notes e%hech it secures, yr ;f the Mort-
<br />gagor be adjudicated bankrupt or made defendant. in a bankruptcy or recetvership prcre•eeding, then ttte
<br />entire principal sum and accrued interest shall at once become due and pacahle, at the, election of the Mort-
<br />gagee.; and this mortgage may thereupon be foreclosed immediately for the n�hole of the ;ndeht,•dmss
<br />hereby securnl, including the caYt of extending the abstract of title from the elate of this mortgage to the
<br />time of commencing such suit, a reasonable attorney's fee• and any sums paid by the Veterans Adin; mstra-
<br />tion on account of the guaranty or, insurance of the indebtedness sc -cured hereby, all (If tchlrh nteall N1
<br />included in the decree of film- losure.
<br />Uv Title 38 linited State -s Comte, and the Regulations rued thereunder shalt govern t he rights, duties
<br />stnd liabilitiva of thr - attiens hereto, and any provisions of tit is ur other r list nrrn. -nts atrY uteet ;r : ornct tern
<br />with *Aiei indebtedness whiirh are inconsistent with said T'itic or Iwitlel;atwfln are iWfl'hi :oeee•enlevi zlted
<br />vapplemented tea conform thereto
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