86105191 - Laserfiche WebLink

Browse

- 86-- 105191 estate taxes or special assessments before delinquent, Mortgagees may pay the real estate taxes and special assessments, or pay any other liens Mortgagors permit to be made against the real estate, and Mortgagees are given a lien secured by this Mortgage for the amounts advanced by them together with interest at the highest legal rate. Mortgagors agree to insure and keep insured the improvements on the real estate for protection against fire and other: casualties in a sum- of at least the unpaid balance of principal. ` of the Promissory Mote and to carry the insurance with a responsible insurance company duly licensed to do business in Nebraska. The insurance policy is to be endorsed with a mortgage clause with loss payable to Mortgagors and Mortgagees, as their interests appear. insurance proceeds received may be used to pay for reconstruction of the destroyed improvements or,, if not applied for this purpose, may, at the option of the Mortgagees, be applied in payment of all or part of the unpaid indebtedness secured by this Mortgage. If Mortgagors fail to carry the insurance required by this paragraph, Mortgagees ?nay purchase the insurance and are given a lien secured by this Mortgage for the amounts advanced for payment of insurance premiums with interest at the highest legal rate. Mortgagors are to furnish Mortgagees a certificate from. the insurance company insuring the improvements on the real estate. for evidencing Mortgagors have acquired the insurance to be carried on the . -- improvements on the real estate, the certificate to - contain a clause the insurance policy cannot be cancelled without at least thirty (30) days prior written notice to Mortgagees. If Mortgagors default in, making payment of any 'monthly installment of ONE HUNDRED NINETY -TWO AND 43!100 ($142.43) for a period of more than sixty (60) days, or fail to perform any of the other duties and obligations of Mortgagors unifier this Mortgage, Mortgagees,' at Mortgagees' election, may declare the entire indebtedness secured by this Mortgage due and payable at once, and foreclose this Mortgage for the satisfaction of the total amount due - - If the Mortgagees daring an action to foreclose this Mortgage, the court may appoint a receiver to take possession of the real estate, as provided by law. Any failure or delay of Mortgagees to exercise any of Mortgagees' rights or privileges under this Mortgage shall not he construed as a waiver of such right or ; privilege. Any act of Mortgagees waiving any specific default of Mortgagors shall not be construed as a waiver of any future defaults.