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201 4c 242 Mortgagee's address stated herein or to such other address as Mortgagee may designate by notice to Mortgagor as provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Mortgagor or Mortgagee when given in any manner designated herein. Governing Law; Severability. The Promissory Notes and this Mortgage shall be governed by the laws of the State of Nebraska. In the event that any provision or clause of this Mortgage or the Promissory Notes conflicts with the law, such conflict shall not affect other provisions of this Mortgage or the Promissory Notes that can be given effect without the conflicting provision, and to this end the provisions of the Mortgage and the Promissory Notes are declared by be severable. Assignment of Rents; Appointment of Receiver; Mortgagee in Possession. As additional security hereunder, Mortgagor hereby assigns to Mortgagee the rents of the Property; however, so long as the Promissory Notes is not in default, Mortgagor shall have the right to collect and retain such rents as they become due and payable. At any time following the occurrence of a default under the Promissory Notes or under this Mortgage, Mortgagee shall be entitled to a receiver for the Property and shall also be so entitled during the time covered by foreclosure proceedings and the period of redemption, if any; and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of Mortgagor or of the then owner of the Property, and without regard to the value thereof. Such receiver may be appointed by any Court or competent jurisdiction upon ex parte application and without notice, notice being hereby expressly waived. At any time following the occurrence of a default under the Promissory Notes or under this Mortgage, Mortgagee, in person or by a judicially- appointed receiver, shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. All rents collected by Mortgagee or the receiver shall upon the occurrence of a default under the Promissory Notes or under this Mortgage, Mortgagee, be applied, first, to payment of the costs of preservation and management of the Property, second, to payments due upon prior liens, and then to the sums secured by this Mortgage. Mortgagee and the receiver shall be liable to account only for those rents actually received. Waiver of Exemptions. Mortgagor hereby waives all right of homestead and any other exemption in the Property under state or federal law presently existing or hereafter enacted. Partial Release of Property. The parties agree that in the event the Mortgagor sells, exchanges, or otherwise transfers title to a part of the Property, upon request, the Mortgagee shall release its lien secured by this Mortgage as to said Property upon receipt of adequate assurance that such partial release will not impair the Mortgagor's ability to pay the remaining balance of the sums due hereunder. Subordination of Lien. The parties agree that the lien of this Mortgage may be subordinated to the lien of the a commercial lending institution upon mutual agreement of the Mortgagor and Mortgagee provided; (a) such subordination will not impair the Mortgagee's lien to any extent other than priority of the respective liens; and, (b) Mortgagor reimburses Mortgagee for its attorney's and accountant's fees and expenses incurred in connection subordination. Wrap Around Provisions. Mortgagor and Mortgagee acknowledge that there presently exists a promissory note secured by a deed of trust encumbering the Property secured by this Mortgage executed by