Laserfiche WebLink
the property otherwise after default, the Mortgagee shall apply, at the time of the commencernent of sucie <br />proceedings, or at the time the property is otherwise acquired, the amount then remaining to credit of <br />Mortgagor under (a) of paragraph 2 preceding, as a credit on the interest accrued and unpaid and the <br />balance to the principal then remaining unpaid on said note. <br />4. The lien of this instrument shall remain in full force and effect during any postponement or exten- <br />sion of the time of payment of the indebtedness or any part thereof secured hereby. <br />5. He will pay all ground rents, taxes, assessments, water rates, and other governmental or municipal <br />charges, fines, or impositions, levied upon said premises and that he will pay all taxes levied upon this <br />mortgage, or the debt secured thereby, together with any other taxes or assessments which may be levied <br />under the laws of Nebraska against the Mortgagee, or the legal holder of said principal note, on account of <br />this indebtedness, except when payment for all such items has theretofore been made under (a) of para- <br />1(raph 2 hereof, and he will promptly deliver the official receipts therefor to the Mortgagee. In default <br />thereof the Mortgagee may pay the same. <br />6. If he fails to pay any sum or keep any covenant provided for in this Mort <br />its option, may pay or perform the same, and all expenditures so made shall be added to th Mortgagee, inciial sum <br />owing on the above note, shall be secured hereby, and shall bear interest at the rate provided for in the <br />principal indebtedness until paid. <br />7. Upon request of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notes <br />for the sum or sums advanced by Mortgagee for the alteration, modernization or impro% anent made at the <br />Mortgagor's request; or for maintenance of said premises, or for taxes or assessments against the same, <br />and for any other purpose elsewhere authorized hereunder. Said note or notes shall be secured hereby <br />on a parity with and as fully as if the advance evidenced thereby were included in the note first described <br />above. Said supplemental note or notes shall bear interest at the rate provided for in the principal indebt- <br />edness and shall be payable in approximately equal monthly payments for such period as may be agreed <br />upon by the Mortgagee and Mortgagor. Failing to agree on the maturity, the whole of the sum or sums <br />so advanced shall be due and payable thirty (30) days after demand by the Mortgagee. In no event shall <br />the maturity extend beyond the ultimate maturity of the note first described above. <br />8. He hereby assigns, transfers and sets over to the Mortgagee, to be applied toward the payment of <br />the note and all sums secured hereby in case of a default in the performance of ary of the terms and con- <br />ditions of this Mortgage or the said note, all the rents, revenues and income to he derived fl•om the mort- <br />gaged premises during such time as the mortgage indebtedness shall remain unpaid; and the Alor•tgagee <br />shall have power to appoint any agent or agents it may desire for, the purpose of renting the same and <br />collecting the rents, revenues and income, and it may pay out of said incomes all necessary commissions <br />and expenses incurred in renting and managing the same and of collecting rentals therefrom ; the balance <br />remaining, if any, to be applied toward the discharge of said mortgage indebtedness. <br />9. He will continuously maintain hazard insurance, of such type or types and amounts as the Mort- <br />gagee may from time to time require, on the improvements now or hereafter on said premises, and except <br />when payment for all such premiums has theretofore been made under, (a) of paragraph 2 hereof, will pay <br />promptly when due any premiums therefor. upon default thereof, Mortgagee may pay the same. All <br />insurance shall be carried in companies approved by the Mortgagee and the policies and rt,ncevals thereof <br />shall be held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form <br />acceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice by mail to the Mort- <br />gagee, who may make proof of loss if not made promptly by origagor, and each insurance company <br />concerned is hereby authorized and directed to make payment £or such loss directly to the Mortgagee <br />instead of to the Mortgagor and the Mortgagee jointly, and the insurance proceeds• or any part thereof, <br />may be applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured <br />or to the restoration or repair of the property damaged. in event of foreclosure of this mortgage, or other <br />transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all <br />right, title and interest of the Mortgagor in and to any insurance policies there in force shall pass to the <br />purchaser or grantee. <br />10. As additional and collateral security for the payment of the note described, and all sums to become <br />due under this mortgage, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, reve- <br />nues, royalties, rights and other benefits accruing to the ,Mortgagor under any and all oil and gas leases <br />now, or during the life of this mortgage, executed on said premises, with the right to receive and receipt <br />for the same and apply them to said indebtedness as well before as after default in the conditions of this <br />mortgage, and the Mortgagee may demand, sue for and re cover any such payments when due and payable, <br />but shall not be required so to do. This assignment is to terminate and become null and void upon release <br />of this mortgage. <br />11. He shall not commit or permit waste; and shall maintain the property in as good condition as at <br />Present, reasonable wear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option, <br />may cause reasonable maintenance work to be performed at the cost of Mortgagor. Any amounts paid <br />therefor by Mortgagee shall bear interest at the rate provided for in the principal indebtedness, shall <br />thereupon become a part of the indebtedness secured by this instrument, ratably and on a parity with all <br />other indebtedness secured hereby, arid shall be payable thirty (30) days after demand. <br />12. He will not execute or file of record any instrument which imposes a restriction upon the sale or <br />occupancy of the property described herein on the basis of race, color or creed. <br />13. if the premises, or any part thereof, be condemned under the powerof eminent domain, oracquired <br />for a public use, the damages awarded, the prroctwds for the taking of, or the consideration fill. such <br />acquisition, to the extent of the full amount of the remaining unpaid indebtedness secured by this mort- <br />gage, are hereby assigned to the Mortgagee, and shall be paid forthwith to said Mortgages-, to be a,eplicd <br />on account of the last maturing installments of such indebtedness. <br />14. If the Mortgagor fails to make any payments when due, or to conform to and comp' •with sans <br />of the conditions or agreements contained in this mortgage, or this notes which it secorex. or if the Mort- <br />gagor be adjudicated bankrupt or made defendant in a bankruptcy or receivership preareding, then tilt, <br />entire principal sum and accrued interest shall at once become due and payable, at the election of the Mort.. <br />Fag"; and this mortgage may thereupon he foreclosed immediately for the whole of the indobte,lnes4 <br />hereby cured, including the cost of extending the abstract of title from the date of thin nwrtkvrte, to the <br />tinsee of commencing such suit, a reasonable attorney's fee, and any sums paid by the Veterans :ldrniniatraa- <br />U001 on account of the guaranty or insurance of the indebtedness secured hereby, all of whirl, shad be <br />itwfuded in the deem of foreclosure. <br />W Title 38 United States (axle, and the Regulations issued thereunder shall ge,vs.rn tilt, right , dotre, <br />and 11011silitin of the parties hereto, arid any provisions of this or other instruments rxi. uteal in i e nra tsOil <br />with mid Insdebtednem which are inconsinlent with said 'T'itle or Regealati<m,' are hert,l'y +une lided :Alld <br />supplernentol to ronform thereto. <br />