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01.0064
<br />3. The.mortgagor covenants and agrees that if lie shall fail to pay said indebtednes s or any part thereof whei'l
<br />due' or shall fail to perform any covenant or agreement of this instrument or the promissory note secured1ereby, tile
<br />entire indebtedness hereby secured shall immediately become due, payable, and collectible without notice, at the
<br />option.of the mortgagee or assigns, regardIcss of maturity, and the mortgagee or his assign-- may I)Cfo'rc'6r after entry
<br />self said property without appraisenient (the niortgagoi having waived an(] assigne(l to the mortgagee all rights of
<br />app . raiscuier it)
<br />at judicial sale pursuant to the pr visions'of 28 U.S.C. 2001 1 a) ; or
<br />.(i) , .0 . . .
<br />(11) at the option of the mortgagee, either by auction or by solicitation of scaled bids, for the highest and
<br />be8t-bid complying with the terms of sale and manner of payment specified in the published notice of sale, first
<br />giving four weeks' notice of the tinie, ternis, and place of such sale, by advertisenicia not less than onci�
<br />M
<br />during each of said.four weeks in a newspaper published or distributed in the county in which said property
<br />is situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any person on
<br />behalf of said mortgagee, may bid.with the unpaid indebtedness evidenced by said note). Said sale shall be
<br />held at or on the property to be sold or at the Federal, county, or city courthouse for the county in which the
<br />property is located. The mortgagee is hereby authorized to exec ' ute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which conveyance shall contain
<br />recitals as to the happening of the default upon which the execution of tile power of sale herein granted
<br />depends; arid the said mortgagor hereby constitutes and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to execute said
<br />conveyance and hereby covenants and agrees that the recitals so made shall be effectual to bar all equity or
<br />right Of redemption, lioniestead, (lower, and all other exemptions of the niorfgagor, all of which are herebN
<br />V
<br />expressly waived and conveyed to the mortgagee; or
<br />(m) take any other appropriate action pursuant to state or Federal statute either in state oi- 1ederal
<br />court or otherwise for the disposition of the property.
<br />In tile event of a sale as hercinbefore provided, the mortgagor or any persons in possession under the mort-
<br />gagor shall then become and be tenants holding over and shall forthwith deliver possession to the purchaser ill
<br />such sale or be summarily dispossessed, in accordance with the provisions of law applicable to tenant.-; holding over'.
<br />The power'and agency hereby granted are coupleid with ail interest and are irrevocable by death or otherwise, and
<br />are granted as cumulative to the remedies for collection of said indebtedness provided by laiv.
<br />4. Thd proceeds of any sale of said property in accordance with the preceding paragraphs shall be applied first
<br />to pay the costs and expenses of said sale' the expenses incurred by the mortgagee for the purpose of protecting or main-
<br />taining said property, and reasonable attorneys' fees; secondly, to pay the indebtedness secured hereby
<br />0 ; and thirdly,
<br />to pay any surplus or excess to the person o r persons legally entitled thereto.
<br />5. In t ' lie event said property is sold. at a judicial foreclosure sale or pursuant to the power of sale liereinabov.e
<br />granted, and the proceeds are not sufficie nt to pay the total indebtedness secured by this instrument and evidenced by
<br />said promissory note, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency without
<br />regard to appraisentent.
<br />6. In the event tile mortgagor fails to pa -any Federal, state, or local tax assessment, income tax or other tax*
<br />0 y
<br />lien, charge, fee, or other expense charged against the property the ifiortgagee is hereby authorized at his option to'
<br />pay the same. Any sums so paid by thelnortgagee shall be added to and become a part of the principal amount of tile'
<br />indebtedness evidenced by said note, subject to tile same terms and conditions. If tile mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pay such sums arid shall discharge all.
<br />taxes and liens and the costs, fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage:
<br />Fliall be canceled and surrendered.
<br />7. The covenants herein contained shall bind and the benefits and advantages sliall intire to [lie respective sue-
<br />cessors and assigns of the parties hereto. Whenever used, the singular number shall include the plural, the plural the
<br />singular, and the use of any gender shall include all genders.
<br />8. No waiver of any covenant herein or of the obligation secured licreby shall,at ail)- time thereafter be held
<br />to be a waiver of the terms hereof or of the note secured licreby.
<br />9. A judicial decree, order, or judgment holding any provision or. portion of this instrument invalid or unen-
<br />forceable shall not in any way impair or -preclude the enforceineni:of ihe:reni'airling I')-rovisions o'r portions of this
<br />instrument.
<br />10.. Any written r-.-)t'ce't0'be issued to the mortgagor pu . rsuant to, the -provisions of this instrument, shall. he ad.
<br />dressed to tbe mortgagc�r at 2204 Bellwood Drive, Grand Island, Nebraska 68801
<br />. 01" and any written notice to be issued to the mortgagee shall
<br />1);e Wrf�Wdlo the mortgagee at 13th & M Streets, Lincoln,. Nebraska 68508
<br />SBA FORM 928 (2-73) _e,
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