|
7. Casdaas10atioft to tith net the ltvperty, orany put thereof. shW be taken by eminent dow dn,tbe Mortpgre
<br />to esapowend to cdkdmd neeiw W compwmgm wbkb may be peld for any property taken o< foe damaaa to propeetyr
<br />Ed Who, said ldoetope shall apply arch aaaoeaatlon, at Its option, either to a reduction of the indebtedness secured
<br />heMft at e4 repair and restore the property a damaged:
<br />B. lt"a ea■ea by Morinm Moortgagee aney, but shall have no obligation, to do any act wbkb the MortMor
<br />has agreed but tags to do, and Mortgagee may We do any we it deems necessary to protect the lien hersoL Mortppr
<br />agna to repay, upon demand, any sums ao expeaded by the Moripgse for the above purposes, and any sums so expended
<br />by the iffiortg q" shall be added to the indebtedon secured hereby and become subject to the lien heteot Martpgee
<br />ahW dot Incur any personal Iiabllily becium of anything It may do or omit to do hereunder.
<br />9. Default; Aayament of Rata. Time is of the essence hereof, and upon Mortnoes default In any covenant
<br />orageeameat of" Mortgage, Including covenants to pay when due the sums secured by this Mortgage, the Modnee"
<br />be entitled, at Its sole option and without notice, to declare all some secured by this Mottpge to be Immediately due and
<br />payable and may commence foreclosure of this Mortgage by judicial proceedings; and, provided further, that upon such
<br />default the Mactpgee, or a recel"r appointed by a court, may at Its option and without regard to the adequacy of the
<br />security, ester upon and take possession of the Property and collect the rents, issues and profits therefrom and app,-.'It ?m
<br />flat to the cat of collection and operation of the Property and then upon the Indebtedness secured by this Morena;
<br />mid rents, inu+ss and profits being a dpted to the Mortgagee as further security for the payment of the indebtedness
<br />secured hereby. ;
<br />10. Treader of Property. If at .ac any part of the Prop" Is sold or transferred without the express written con-
<br />sent of the Mortna,.Modgagee may at its sole option, declare all sums.secmv -d by this Mortgage to be Immediately due
<br />and payable.
<br />ii. Fissure Adri€nons. Upon request of Mortgagor, Mawr iy- inane additional and futon advances to
<br />Mortgagor. &Wh -advances, with interest thereon, shall be secured tjy.- Uds Mortgage when evidenced by promissory notes
<br />stating that said notes are secured hereby. At no time shall the principal amount of the indebtedness secured by this
<br />Mortgage, not includtngciurhE =advanced to protect the waft of this Mor jVi,:exceed the original Note.
<br />12. MiseellsasooPi+iisioas: , �:
<br />Any fdrebearance fir a6Mdsing any right or remedy dWI not be a waiver thereof
<br />(b) All reem"as prodded herein are distinct and cumulative to any other right afforded by law or equity, �s
<br />t ..
<br />and may be exercised concurrently, independently or suceesrively. _
<br />(r.)- '.!Me covenants and qpements contained herein shall bfm4 and the rights inure to, the respective
<br />successors and assiphs of the Mortgagor and the Mortgagee. ,
<br />{ii►' ' All covenants and agreements of the Mortgagor are joint sari several.
<br />i-
<br />{nj The headino of the p rgpphs of this Moripip a-ee for convenience only shii shag: tusk-be used to inter- `=
<br />pert or dente the prcWaTons hereof.
<br />1.=
<br />a ReWw. Upon payment of ali sums secured by Ibis KIM 4W. MiMpgees shall discharge- thls Mortgsip v3d
<br />shall execute and deliver a satisfactory release therefor.
<br />IN WnTIBN WHEREOF, Mortgagor has executed this engage an the 7th �y of April , 1p fig -
<br />Go en B. Mclmgh seuawer.
<br />�• "nil:. ,.., .,,1.�.. t'' �� � .
<br />t by J. Y tl 1o>�Owar
<br />Beale of Nekuka, Hall Couniy U. ,
<br />On " 7th day. of April 19--8-9--. before me, We underdphed, a Notary Public
<br />duly commissioned and qualified for add a may, personally came Galen B. and Kathy J. McHugh
<br />Identical pmw(s) whose names are subscribed to the f , to he known to be the
<br />.
<br />() foregoing Instrument and acknowledged the execution thereof
<br />..10 101, their voluntary act and dared. '
<br />Wltnm' my had sad: notarial seal at Grand Island, Nebraska is said county. the
<br />Notary MAW
<br />00W tdow Mir LU1 Benner ror corder a0a xeeorder)
<br />IIWI tee1Hb302 2190
<br />r;
<br />
|