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a 86- 102877 10. 'fhat rite Mortgagor wifl k,en the building, upon I t ie +n :,es in cot�d t,: iii..utd neither :oininii nor permit xa',le upon said land. nor ,offer the said premise, , hr used f unto% unlavt fill purpo e. I l That if the premises, or .,ny part theteof, he condemned under the i ,.,cr of eminent domain. or acquired fora public use, the damages awarded. the prru :eeds for the taking of. or the cvn:iderariof for .uch iQqui %ition. to the extent of The full amount of indebtednes upon this mortgage and the note which. it is riven to secure refraining unpaid, are hereby assigned b% the Mortgagor to the Mortgagee. and ,hall be paid forthwith to ,aid Xlonga&ee to tv spelied h} the latter on account of the nest maturing installments of such indehtedoes,. 12. The Mortgagor further agrees that should this mortgage and the note secured hereby not he eligible for in- surance under the National Housing Act within sixty days from the date hereof twritten strtement of any officer of the Fkparimenl of Housing and Cuban Development or authoruird agent of the Secretary of Housing and Urban Development dated subsequent to the sixty days time from the date of this mortgage. declining to insure said note and this mortgage, being deemed conciusive proof of such inehgihilityl. the Mortgagee or holder of the note may. at its option. declare all sums securred hereby immediately due and pacahle. ** gee Be low 13. That if the kfor(gtgor fails to make any payments of money wet;;, the same hecome due, or f;,ils to conform to and comply with any of the conditions or agreements contained in this morte:,gc, or the note which it secures. then the entire princi- pal stun and accrued interest shall at once become due and payahlc. +r the election of the Mortgagee: and this mortgage may thereupon he foreclosed immediately for the whole of said money, interest. monthly payments. :o,ts. ground rents. taxes and the cost of extending the abstract of title from the date of this loan to the time ,-f commencing such foreclosure suit, and a rea- sonable attorney's fee. all of which shall he included in the decree of fore. b „tire: :ind the contract embodied in this mortgage and the rote secured hereby, shall in all respects he governed, construed and adjudsted by the laws of Nebraska, where the same is made. The covenants herein contained shall hind. and the benefits and Advantages shall insure in, the respective heirs. executors. administrators. successors and a,signs of the parties hereto. 1Vhenever used, the singular number shall include the plural. the plural the singular. and the use of any gender shall he applicable to :dl genders. The foregoing conditions. ;d! and singular, being performesi according to their natural and legal import. this conveyance shall he void and said premises rcicased at the expense of the Mortgagor: otherw isc to he and remain in full force and effect. IN wrrNE-SS \N HERFOF. the Morigafgor(sl have above written In presence of: * *This option may not be exercised by the mortgagee when the ineligibility for insurance under the National Housing Act is due to the mortgagee's failure to remit the mortgage insurance premium to the Department of Housing and Urban Development. hereunto set their hand(s) the day and year first i i, ! 1 SEAL I Michael A. Palu 1 SEAL. I { I SFAI. 1 Valerie K. Palo I N;FAI_ i sTATE OF NFHRASKA_ y ss: COUNTY OF HALL y On this 31st day of May . A.D. 19 86, he fore toe. a Notary Public in and for said County. pct,onally carne Michael A. Palu and Valerie K. Palu, Husband and Wife . personally to me known to he the identical person S whose name S are affixed to the above and fore - going instrument as ktorlgagoi , and they are acknowledged the said instrument and the execution thereof to be their voluntary act and died. for the purposes therein expressed. In testimony whereof. I have hereunto set my hand and affixed by notarialseal at Grand Island on the day and date last above written. lirl �r�ttt�r �S \brary /'uhlic �K WO ft ftowA M STATE OF NEBRASKA Filed for record this day of A. D. 19 at o'clock %I -, and entered in Numerical Index, and recorded in Hook of Mortgage,, on page of Register of Deed, I