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7. Ckmdemnation. In the event the Property, at any put thereof, shalt be taken by eminent domaln, the Modpgee
<br />Is empowered to collect and receive At compensation which may be paid for any property taken or for damages to property
<br />not taken, and Mortgagee shall apply such compensation, at its option, either to a reduction of the Indebtedness secured
<br />r hereby or to repair and restore the property so damsped.
<br />1 & P rformamw by MOR4%ee. Mortgagee essay, but stall have no obligation, to do any act which the Mortgagor
<br />has agreed but talk to do, and Mortgagee may also do any act It deems necewery to protect the lien hemot. Mortgagor
<br />agrees to repay, upon desaand. any fume so expended by the Motippe for the above purposes, and any aurae w expended
<br />by the Hortow shall be added to the indebtedness secured [Hereby and become subject to the lien bar at i_1lortgsgae
<br />shall not incur any personal liability because of anything it may do or omit to do hereunder.
<br />9. Deta dt; Aseigaannt of Rate. Time Is of the essence hereof, and upon Mortgagor's default In any covenant
<br />or agnseasant of this MAW, including covenants to pay when due the sums secured by this Mortgage, the Mortgagee shall
<br />be endued, at Its sale option and without notice, to declare all sum secured by this Mortgage .to be immediately due and
<br />payabb and essay aoaaaneaae forada ure of this Mortgage by Odklal l roceedirye; and, provided h titer, that upoa much.
<br />default the Mortgagee, at a receiver appointed by a court, may at its option and without regutd to the adequacy► of the
<br />security, enter upon and take possession of the Property and collect the routs, laws and profits therefrom and apply them
<br />flat to the cost of collection and operation of the Property and then upon the Indebtedness secured by this Mortgagee;
<br />said rents, isum and profits being assigned to the Mortgagee as further security for the payment of the indebtedness
<br />secured hereby.
<br />10. T=AWer of Propetty. It all or any part of the Property is sold or transferred without the express written con.
<br />sent of the Mortgagee, Mortgagee may at its sole option, declare all sums secured by this Mortgage to be immediately due
<br />and.payable.
<br />11. Future Advance& Upon request of Mortgagor, Mortgagee may make additional and future advances to
<br />Mortgagor. Such advances, with interest thereon, shalt .Re secured by this Mortgage when evldenced by prowissoty wows
<br />stating that said notes are secured hereby. At no time shall the principal amount of the indebtedness secured by this
<br />Mortgage, not including sums advanced to protect the security of this Mortgage, exceed the original Note.
<br />12. MieaUaaaons trovidons,
<br />(a) Any forebearance in exercising any right or remedy shall not be a waiver thereof.
<br />(b) Ali remedies,pcovided herein are distinct and cumulative to any other right afforded by law•or equity,
<br />and may be pyercised concurrently, independently or successively.
<br />(c) The covenants and agreements contained herein: shall bind, and the rigbts inure to, the respective
<br />erie�ws�et►ve wtaA wM nwe a he-MA O. -d the MOT-1.' w.
<br />(d) All covenants and agreements of the Mortgagor are joint and several.
<br />(e) The headings of the paragraphs of this Mortgage ate for convenience only and shall not be used to inter-
<br />pret or define the provisions hereof.
<br />�..
<br />13. Release. Upon payment of all sums secured by this Mortgage, Mortgagee shall discharge this Mortgage and
<br />I
<br />shall execute and deliver a ettistactmy release therefor.
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on the 16th day of December ,19.x. �y
<br />- Bomwer t
<br />-e D. Schuppan, ident Borrows t:
<br />State of Nebtadta, HALL County ss: N
<br />On this 16th day of DecAamber 19 88 , before me, the unsigned, a Notary PuWc
<br />duly commissioned and qualified for said county, personally came Dale D. S2hyRpan
<br />to me lmowo.1* be the
<br />identical person(t) whose name(s) =;subscribed to the foregoing instrument and acknowledged the execlttiox thereof A
<br />to Oe his voluntary act and deed..: and.. the . voluntary act and deed as oIf�i !3el . of \
<br />said -vorporat on.
<br />Witness m hand aiid,.ttotatial seat at ag a
<br />y Grand; ialaSacf i►Iebr in saidterrunty, the.o�
<br />\ date aforesaid.
<br />Mycommission•empires:
<br />Notary Public (�' Li
<br />` (Space Below Thee ne Reeved For Leader and Recorder) 1� �
<br />to
<br />47
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