|
86_ 103201
<br />wise after default, the Mortgagee shall apply. at the time of the commencement of such
<br />I the time the property is otherwise acquired, the amount then remaining to credit of
<br />a) of paragraph 2 preceding, as a credit on the interest accrued and unpaid and the
<br />ncipal then remaining unpaid on said note.
<br />,'this instrument shall remain in full force and effect during any postponement or exten-
<br />payment of the indebtedness or any part thereof secured hereby.
<br />r all ground rents, taxes, assessments, water rates, and other governmental or municipal
<br />mpoaitions, levied upon said premises and that he will pay all taxes levied upon this
<br />debt secured thereby, together with any other taxes or assessments which may be levied
<br />Nebraska against the Mortgagee, or the legal holder of said principal note, on account of
<br />except when payment for all such items has theretofore been made under (a) of para.-
<br />id he will promptly deliver the official receipts therefor to the Mortgagee. In default
<br />ogee may pay the same.
<br />to pay any sum or keep any covenant provided for in this Mortgage. the Mortgagee, at
<br />y or perform the same, and all expenditures so made shall be added to the principal sum
<br />e note, shall be secured hereby, and shall bear interest at tine rate provided for in the
<br />ness until paid.
<br />3st of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notes
<br />is advanced by Mortgagee for the alteration, modernization or improvement made at the
<br />Est; or for maintenance of said premises, or for taxes or assessments against the same,
<br />purpose elsewhere authorized hereunder. Said note or notes shall be secured hereby
<br />td as fully as if the advance evidenced thereby were included in the note first described
<br />lemental note or notes shall bear interest at the rate provided for in the principal indebt-
<br />e payable in approximately equal monthly- payments for such r-riod as may be agreed
<br />;agee and Mortgagor. Failing to agree un the maturity, the whole of the sum or sums
<br />be due and payable thirty (30) days after demand by the Mortgagee. in no event shall
<br />d beyond the ultimate maturity of the note first described above.
<br />assigns, transfers and sets over to the Mortgagee, to be applied toward the payment of
<br />ms secured hereby in case of a default in the performance of any of the terms and con -
<br />-tgage or the said note, all the rents, revenues and income to be derived from the mort-
<br />ring such time as the mortgage indebtedness shall remain unpaid; and the Mortgagee
<br />to appoint any agent or agents it may desire for the purpose of renting the same and
<br />s, revenues and income, and it may pay out of said incomes all necessary commissions
<br />red in renting and managing the same and of collecting rentals therefrom ; the balance
<br />to be applied toward the discharge of said mortgage indebtedness.
<br />ttinuously maintain hazard insurance, of such type or types and amounts as the Mort -
<br />ne to time require, on the improvements now or hereafter on said premises, and except
<br />all such premiums has theretofore been made under (a) of paragraph 2 hereof, will pay
<br />e any premiums therefor. Upon (it -fault thereof, Mortgagee may pay the same. Ail
<br />carried in companies approved by the Mortgagee and the policies and renewals thereof
<br />e Mortgagee and have attached thereto loss payable clauses in favor of and in form
<br />dortgagee. In event of loss Mortgagor will give immediate notice by mail to the'.l3ort-
<br />rake proof of loss if not made promptiy by Mortgagor, and each insurance. company-
<br />)y authorized and directed to make payment for such loss directly to the Mortgagee
<br />ortgagor and the Mortgagee jointly, and the insurance proceeds, or any part thereof,
<br />the Mortgagee at its option either to the reduction of the indebtedness hereby secured
<br />m or repair of the property damaged. In event of foreclosure of this mortgage, or other
<br />n the mortgaged property in extinguishment of the indebtedness secured hereby, all
<br />erest of the Mortgagor in and to any insurance policies then in force shall pass to the
<br />ee.
<br />:nal and collateral security for the payment of the note described, and all sums to become
<br />- tgage, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, reve-
<br />;hts and other benefits accruing to the Mortgagor under any and all oil and gas leases
<br />life of this mortgage, executed on said prt mises, with the right to receive and receipt
<br />p ly them to said indebtedness as well before as after default in the conditions of this
<br />Mortgagee may demand, sue for and recover any such payments when due and payable,
<br />uired so to do. This assignment is to terminate and become null and void upon release
<br />of commit or permit waste; and shall maintain the property in as good condition as at
<br />wear and tear excepted. Upon any failure to so mai :main, Mortgagee, at its option,
<br />ble maintenance work to be performed at the cost of Mortgagor. Any amounts paid
<br />agee shall bear interest. at the rate provided for in the principal indebtedness, shall
<br />a part of the indebtedness secured by this instrument, ratably and on a parity with all
<br />secured hereby, and shall be payable thirty (30) days after demand.
<br />t execute or file of record any instrument which imposes a restriction upon the sale or
<br />roperty described herein on fhe basis of race, color or creed.
<br />nises, or any part thereof, be condemned under the power of eminent domain, or acquired
<br />.he damages awarded, the proceeds for the taking of, or the consideration for such
<br />extent of the full amount of the remaining unpaid indebtedness secured by this mort-
<br />wigned to the Mortgagee, and shall be paid forthwith to said Mortgagee, to be applied
<br />W. maturing installments of such indebtedness.
<br />rtgagor fails to make any payments when due, or to conform to and comply %% ith any
<br />r agreements contained in this mortgage, or the notes which it secures, or of the Mort -
<br />.ed bankrupt or made defendant in a Bankruptcy or receivership pioee-eding, then the
<br />n and accrued interest shall at once become due and payable, at the election of the Mort -
<br />ortgage may thereupon be foreclosed immediately for the whole of the indebtedness
<br />,lading the cost of extending the abstract of title frorn the date of this mortgage to the
<br />S such suit, a reasonable attorney's fee, and any sums paid by the Veterans Administra-
<br />the guaranty or insurance of the indebtA-Aness secured hereby, all of which shall be
<br />-ee of foreclosure.
<br />rtited States Code, and the Regulations issued thereunder shall govern the rtKht v, duties
<br />is parties hereto, and any provisions of this or other instruments execute i n, eminer tern
<br />nest which nt". inc,- nsistent with xard Title or Regulat:oris are 1wrehy arne:nteyi and
<br />rnforTn thereto.
<br />Wo
<br />a_J
<br />
|