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86-- 103235 lo. That the 'Mortgagor will k,.,, the buildings upon said premises in :;clod repair. !neither commit nor permit waste upon said land. nor suffer the said premises w he used for any unlawful purpose. 11. That if the premises. or any part thereof, he condemned under the power of eminent domain, or acquired for a public use. the damages :awarded. the proceeds for the taking of, or the consideration for such acquisition, to the extent of the full amount of indebtednes upon this mortgage and the note which it is given to secure remaining unpaid, are hereby assigned by the Mortgagor to the Mortgagee, and shall he paid forthwith to said Mortgagee to he applied by the latter on account of the next maturing installments of such indebtedness. 12. the Mortgagor further agrees that should this mortgage and the note secured hereby not be eligible for in- surance under the National Housing Act within 60 days from the date hereof (written statement of any officer of the Department of Housing and 1/rban Development or authorized agent of the Secretary of Housing and Urban Development dated subsequent to the 60 days time from the date of this mortgage, declining to insure said note and this mortgage, being deemed conclusive proof of such ineligibility). the Mortgagee or holder of the note may, at its option. declare all sums recurred hereby immediately due and payable. ** See Bel ow 13. That if the Mortgagor fails to make any payments of money when the same become due. or fails to conform to and comply with any of the conditions or agreements contained in this mortgage. or the note which it secures, then the entire princi- pal sum and accrued interest shall at once become due and payable. at the election of the Mortgagee: and this mortgage may thereupon be foreclosed immediately for the whole of said money, interest. monthly payments, costs, ground rents, taxes and the cost of extending the abstract of title from the date of this loan to the lime of commencing such foreclosure suit, and a rea- sonable attorney's fee, all of which shall be included in the decree of ,foreclosure: and the contract embodied in this mortgage and the note secured hereby, shall in all respects be governed, construed and adjudged by the laws of Nebraska, where the same is made. The covenants herein contained shall bind, and the benefits and advantages shall insure to, the respective heirs, executors. administrators, successors and assigns of the parties hereto. Whenever used, the singular number shall.include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. The foregoing conditions. all and singular, being performed according to their natural and legal import, this conveyance shall be void and said premises released at the expense of the Mortgagor: otherwise to be and remain in full force and effect. IN WITNESS WHEREOF, the Morigagor(s) ha ve hereunto set thei r hand(s) the day and year first above written. In presence of: ** This Option may not be exercised by the mortgagee when the ineligibilty 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. STATE OF NEBRASKA. ss: COUNTY OF HALL SEAL i GATES LULLttN � SEAL 1 [ SEAL. I [ SEAL [ [ SEAL i On this 17 taaY of June . A.D. 19 86 before me. a Notary Public in and for said County, personally came KEVIN E. GATES and COLLEEN GATES, HUSBAND AND WIFE . personally to me known to be the identical person s whose name s have been affixed to the above and fore- going instrument as Mortgagor, and they have acknowledged the said instrument and the execution thereof to be their voluntary act and dged. for the purposes therein expressed. In testimony whereof, 1 have hereunto set my hand and affixed by offi cial seal at GRAND ISLAND on the day and date last above written. �? otary Public �OIIEi k � g�•a• STATE OF NEBRASKA 4_718i Filed for record this day of at o'clock recorded in Book Page of A. 1). 19 M., and entered in Numerical Index, and of Mortgages, on Register of Deeds c►o Vos•oo, MU0 - g21 4lbl 0 791 tl�il n 01 1 _J