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<br />7. Condemnation. In the event the Property, orany part thereof, shall be taken by eminent domain,the Mortgagee
<br />Is emnpowered to collect and receive all compensation which may be paid for any property taken or for damaps
<br />to property
<br />not taken, and Mortgagee shall apply such compensation. at Its option, either to a reduction of the indebtedness secured
<br />hereby or to repair and restore the property so damaged,
<br />8. Performance by Mortgagee. Mortgagee may, but shall have no obligation, to do any act which the Mortgagor
<br />has agreed but rails to do, and Mortgagee may also do any act it deems necessary to protect the lien hereof. Mortgagor
<br />Agrees to repay, upon demand, any sums so expended by the hlortgyee for the above purposes, and any sums so expended
<br />by the 1010"gee shall be added to the indebtedness secured hereby and become subject, to the lien hereof. Mortgagee
<br />shall not incur any personal liability because of anything It do
<br />may or omit to do hereunder.
<br />9. Default; Assignment of Rents, 71me Is of the essence hereof, and upon Mortgagor's default in any cov'snant
<br />or agreement of thin Mortgage, including covenants to pay when due the sums secured by this Mortgage, the Mortgagee "I
<br />be entitled, at its sole option and without notice, to declare all sums secured by this Mor4p4v
<br />to be immediately due and
<br />payable and may commence foreclosure of this Mortgage by judicial proceedings; and, Mrtber, that
<br />provided upon such
<br />default the Mortgagee, or a receiver appointed by a court, may at its option and without r W to the adequacy of the
<br />security, enter upon and take possession of the Property and collect the rents, issues and profits tbereftm and apply them
<br />first to the cost of collection and operation of the Property and then upon the indebtedness
<br />secured by this Mortgagee;
<br />said rents, issues and profits being assigned to the Mortgagee as Anther security for the payment of the indebtedness
<br />secured. hereby.
<br />10. Transfer of Property. If all or angr PDA a the Property Is sold or transferred without the express written con-
<br />sent of the Mortpgee, Mortgagee may at its azke vogc bt , declare all sums•secured by, this Mottpge to be immediately ripe
<br />and payable.
<br />11. Future Advances. Upon request of Mortgagor, Mortgagee may maim additional and• future advances to
<br />Mortgagor. Such advances, with interest thereon, shall be secured by this Mortgage when eviderteed by promissory notes
<br />stating that said notes are secured hereby. At no time shall the principal amount the
<br />of indebtedness secured by► this
<br />Mortgage, not including sums advanced to protect the security of this Mortgage, exceed the original Note,
<br />12. Miscellaneous Provisions.
<br />(a) Any forebearance in exercising any right or remedy shalt not be a waiver thereof,
<br />(b) Amt remedies provided Oemwic' are distinct and cumulative to any other right afforded by law or equity,
<br />and may be exercised concurrently, Independently or successively.
<br />(c) The covenants and agreements contained herein shall bind, and the rights inure to, the respective
<br />r ccessors and assigns of the Mortgagor and the Mortgagee.
<br />(y) wit covenants sad moms of the Mti
<br />>� rtpro :err joint and several.
<br />W) The heading; of the Ina a aphs of this Mortgage are for convenience only and shall not be used to Inter-
<br />pret or define the'provis oms.hereof.
<br />I& Release. upon payment of all sums secured by this Mortgage, Mortpgre shall this Mortgage
<br />shall execute and deliver a satisfactory release therefor. dirge rtpge and
<br />IN WITNESS WHEREOF, Mortgagor has executed ibis Mortpge on the _ SL— day of _.5U
<br />'
<br />'-t
<br />(Lawrence B. Spanel) Borowar•
<br />Borrower
<br />State of Nebraska, Hall County ss:
<br />On this 26th day of _ Ma 19
<br />--� .53.E before me, the undersigned, a Notary Public
<br />duly cammissioned.and qualified for said county„ personally came ___ Lawrence B. S el
<br />identical R . to •me known to be the
<br />persons) whose name s,,are subscribed to the foregoing instrument and acknowledpd -tiir execution thereof
<br />to be his voluntary act and-deed.
<br />'
<br />Witness my hand and notarial seal :C' Grand s ka .,in said county, the
<br />date aforesaid.
<br />:_Isi 'Nebr,
<br />My Commission expires:
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<br />Notary PuLrle
<br />(Space Below -- a -d Vor render and Recorder)
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