86103523 - Laserfiche WebLink

Browse

00-'m 1U6040 10. That the Mortgagor will kc.,, the buildings upim said premises in ,good repair.. .neither commit nor permit waste upon said land, nor suffer the said premises to be used for an : arilawfut purpose I1. That if the premises. or any part thereof. he condemned under the power of eminent domain. or acquired for a politic use. the damages awarded. the proceeds for the taking of, or the consideration for ..,uch acquisition, to the extent of the full amount of indebtcdoes upon this mortgage and the note which it is given to secure remaining unpaid, are hereby assigned by the Monpgor to the Mortgagee. and shall he paid forthwith to said %lorigagee 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 he 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 Urban 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 meitgthiliiyi, the Mortgagee or holder of the note may, at its option. declare all sums recurred hereby immediately due and payable. ** See Below 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 for:ciosed immediately for the whole of said money. interest. monthly payments. costs, ground rents. taxes and the cost of extendingthe ahytract of title from the date of this loan to the time 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. .hail in all respects he governed, construed and adjudged by the laws of Nebraska, where the same is made. The covenants herein contained shall hind, 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 shat: be applicable to all genders The foregoing conditions. all and singular. being performed according to their ri rural and legal import, this conveyance shalt he void and said premises released at the expense of the klorigagot: otherwise to he and remain in full force and effect. IN WITNFSS WHEREOF. the Itorigagorf s) ha ve hereunto scr their handrs, the day and year first above written In presence of •+► This Option may not be exercised by the C' ; tiFAI j mortgagee when the ineligibilty for / insurance under the National Housing Aq, ' iSF4l 1 Is due to the mortgagee's failure to remit the mortgage insurance premium to the Department of Housing and Urban - iSF.AI t Development, SEAL 1 I SEAL I STATE OF \I- BR,ASK.A. ll .s COL ti i'Y OF HALL / On this 1 st day of July A 1) 1st 9i, before nit a Notary Public it and for said ( ounly. . pcisonaUy came JOHN D. RUSSELL and COLLEEN 8. RUSSELL, HUSBAND AND WIFE per >una41y u, 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 he tnei r soluatan i,:ind dged. for the purposes therein expressed. In testtmony whereof. 1 have hereunto set my hand and affixed by official seal at GRAND ISLAND on the day and date last above written `DS.It BERGGq irtart f'uhltc jV awe. Ev* 014, 1988 S-FATF 01; NEBRASKA » Filed for record this day of A U 19 at o'clock M - end entered rn Numerical index. and recorded to Aook of 'Aortgagrs, on PUP of Register of feeds .ev —1 —, ,,,.i, 4p`4 t„ ,y `91 I