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<br /> #tTV-x56 i/23/9Q �522) Granc� Islar.d, NE
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<br /> (b) C�mmence an aation to fareclose this Mortgage
<br /> _ as a lien, appoint a rece�ve� dr sp�cificall� enforce any of the
<br /> covenants hereof, and se�l the Mortgaged Property nnder the
<br /> � judgment or decree of a ca�rt or ceurts of competent
<br /> jurisdictlon.
<br /> (c) El�ct ta treat any of the Mortgaged Property
<br /> which consists of a r3ght in action or whi,� is property that can
<br /> - be severed from the Land or the Improvemeu;�: �vithout causing
<br /> sts�z.ctilral damage tlier�to as if th�.:��a:;e ��W�� p�r�flnal groperty�,�. �� _f •
<br /> � a� c�.iV�ose �� the �air,�e in accordaa�e witk� cT�Stic�e 18 he�+�w, � �
<br /> '' -' � ' Wspar�te and ��$rt from th� �ale of real,g��erty, Tha e�.�e�tz��.I ~
<br /> �y Mortgage�� � se11 any g� of tfi� Mortg�ged Prc��r�� gursua.�� . � �
<br /> to Article 18 sh�ZL i�.c�� gr�ivae f� �rom exercis�g a�� Qf itg �
<br /> . - other rights pursua��• to �tt�e Note, ���e Other Agre��en� �� thi�� �� � ��
<br /> � Mortgage or b�+ law upan th� occurr�ce of an �Event of IIe����;lt, �
<br /> fncluding, bu� not limited to, the �ight t� camme�ce an a::ttoa t�
<br /> forecZQS� t�,s �iortgage as a lien. -
<br /> ` � � �.�) In the event c��' a3�C �as� of the Mor�gaged
<br /> - Property purs�t to subpar�c��ap� �"�:� a6��r�, Mortgaqee shall ''�'
<br /> apply the purchase money, praceeds e►_- avails of such sale in the � '
<br /> following order: (i� first, to the payment of all costs and �
<br /> expenses inci8ent to such sale and with collection cf the
<br /> Indebtedness, i�cluding, without limitatian, advertising �
<br /> expenses, expenses ineurred in obtaining or continuing abstracts � �
<br /> of title �or title insurance policies) for the purpose of the
<br /> _ 9ale, court costs and reasonable attorneys� fees, (11) second, to
<br /> the payment of any taxes or assessments which may be a lien --
<br /> against the Mortgaged Property, unless Moz�tgagee advertised and �
<br /> solci sair:e subjact to such taxes or asse�sments, (iii) third, to '�
<br /> — the payment of i,nterest due under the Note, (iv� fourth, to the ��
<br /> payn�ent of the unpa3a principal balance of the Note, (v� fifth,
<br /> to the payrm�nt of all other sums secured by this Mortgage,
<br /> incl�ad�.ng all expenses, lia}��lities and advances made or ir.c.^��rred
<br /> by Mortgegee under this Mor��age or in connection with the
<br /> enfor�ement thereof, together with interest thereon at the
<br /> Defaul� Rate frvm the date of the aa�vance, and (vi) sixth, to tk�e �,.
<br /> extent of any surpl��, to whomsoevez may be lawfully entitled te �`.
<br /> reaeive the s�Le. Zc� the e�reat foreclosure is commenced but not `
<br /> campleted, Mortgagor shall a all ex � :
<br /> F Y penses of the proceeding,
<br /> , • includ3ng reasonable attorneys� f���. Except as �:sf be otherwise
<br /> provided by applicabTe law, no purc�raser of all or any part of
<br /> the Mortgaged Property shall be required to see to the prc�er
<br /> application of the purchase money, proceeds or avails of any such
<br /> _ sale of the Mortgaged Property.
<br /> �e) Elect to set-off and apply any and a7.1 of the
<br /> ' Accounts against the Indebtedness.
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