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07-23-1999 g 9 10 8 0�0 MORTGAGE Page 6
<br /> Loan No 764553 (Continued)
<br /> amounts past due and unpafd,and apply the net proceeds, over and above Lender's costs, against the Indebtedness. In furtherance of this
<br /> right, Lender may require any tenant or other user of the Property to make payments of rent or use fees directly to Lender. If the Rents are
<br /> collected by Lender, then Grantor ircevocably designates Lender as Grantor's attorney—in—fact to endorse instruments received in payment
<br /> thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response
<br /> to Lender's demand shall satisfy the obligations for which the payments are made,whether or not any proper grounds for the demand existed.
<br /> Lender may exercise its rights under this subparagraph either in person,by agent,or through a receiver.
<br /> Appoint Receiver. Lender shall have the right to have a recefver appointed to take possession of all or any part of the Property,with the power
<br /> to protect and preserve the Property,to operate the Property preceding foreclosure or sale,and to collect the Rents from the Property and apply
<br /> the proceeds,over and above the cost of the receivership,against the Indebtedness. The receiver may serve without bond if permitted by law.
<br /> �Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a
<br /> �'substantial amount. Employment by Lender shall not disqualify a person from senring as a receiver.
<br /> Judicial Foreclosure. Lender may obtain a judicial decree foreclosing Grantor's interest in all or any part of the Property.
<br /> Nonjud(Cial Sale. If permitted by applicable Iaw, Lender may foreclose Grantor's interest in all or in any part of the Personal Property or the
<br /> Real Property by nonjudicial sale.
<br /> Deflclency Judgment. If permitted by applicable Iaw, Lender may obtain a judgment for any deflciency remaining in the Indebtedness due to
<br /> Lender a(ter application of all amounts received from the exercise of the rights provided in this section.
<br /> Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided above or Lender otherwise
<br /> becomes entitled to possession of the Property upon default of Grantor,Grantor shall become a tenant at sufferance of Lender or the purchaser
<br /> of the Property and shall, at Lender's option, either (a) pay a reasonable rental for the use of fhe Fioperty, or (b) var�te the Property
<br /> immediately upon the demand of Lender.
<br /> Other Remedies. Lender shall have all other rights and remedies provided in this Mortgage or the Note or available at Iaw or in equity.
<br /> Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all right to have the property marshalled. In
<br /> exercising its rights and remedies, Lender shall be free to sell all or any part of the Property together or separately,in one sale or by separate
<br /> sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property.
<br /> Notice of Sale. Lender shall give Grantor reasonable notice of the time and place of any public sale of the Personal Property or of the time
<br /> after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable notice shall mean notice given at
<br /> least ten(10)days before the time of the sale or disposition.
<br /> Waiver;Election of Remedles. A waiver by any party of a breach of a provision of this Mortgage shall not constitute a waiver of or prejudice
<br /> the party's rights othervvise to demand strict compliance with that provision or any other provision. ElecHon by Lender to pursue any remedy
<br /> shall not exclude pursuit of any other remedy, and an election to make expenditures or take action to perform an obligation of Grantor under
<br /> this Mortgage after failure of Grantor to perform shall not affect Lender's right to declare a default and exercise its remedies under this Mortgage.
<br /> Attomeys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Mortgage, Lender shall be entitled to
<br /> recover such sum as the court may adjudge reasonable as attorneys' fees at trial and on any appeal. Whether or not any court action is
<br /> involved,all reasonable expenses incuned by Lender that in Lender's opinion are necessary at any time for the protection of its interest or the
<br /> enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest from the date of expendit��re until
<br /> repaid at the rate provided for in the Note. Expenses covered by this paragraph include,without limitation,however subject to any limits under
<br /> applicable Iaw,Lender's attorneys'fees and LendePs legal expenses whether or not there is a lawsuit,including attorneys'fees for bankruptcy
<br /> proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals and any anticipated post judgment collection
<br /> services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors' reporls, and appraisal fees, and title
<br /> insurance,to the extent permitted by applicable Iaw. Grantor also will pay any court costs,in addition to all other sums provided by Iaw.
<br /> NOTICES TO GRANTOR AND OTHER PARTIES. Any notice under this Mortgage,including without limitation any notice of default and any,notice
<br /> of sale to Grantor,shall be in writing,may be sent by telefacsimile(unless otherwise required by law),and shall be effective when actually deflvered,
<br /> or when deposited with a nationally recognized overnight courier, or,if mailed,shall be deemed effective when deposited in the United States mail
<br /> first class,certified or registered mail,postage prepaid,directed to the addresses shown near the beginning of this Mortgage. Any party may change
<br /> its address for notices under this Mortgage by giving formal written notice to the other parties,specifying that the purpose of the notice is to change
<br /> the party's address. All copies of no:ices af foreclosure from tha holder of any lien which has priority cver this Mortgage shall be sent to Lender's
<br /> address, as shown near the beginning of this Mortgage. For notice purposes, Grantor agrees to keep Lender Informed at all t(mes of Grantor's
<br /> current address.
<br /> MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Mortgage:
<br /> Amendments. This Mortgage,together with any Related Documents,constitutes the entire understanding and agreement of the parties as to
<br /> the matters set forth in this Mortgage. No alteration of or amendment to this Mortgage shall be effective unless given in writing and signed by
<br /> the party or parties sought to be charged or bound by the alteration or amendment.
<br /> Applicable Law. This Mortgage has been delivered to Lender and accepted by Lender In the State of Nebraska. This Mortgage shall be
<br /> govemed by and construed in accordance with the laws of the State of Nebraska.
<br /> Caption Headings. Caption headings in this Mortgage are for convenience purposes only and are not to be used to interpret or define the
<br /> provisions of this Mortgage.
<br /> Merger. There shall be no merger of the interest or estate created by this Mortgage with any other interest or estate in the Property at any time
<br /> held by or for the beneflt of Lender in any capacity,without the written consent of Lender.
<br /> Severability. If a court of competent jurisdiction flnds any provision of this Mortgage to be invalid or unenforceable as to any person or
<br /> circumstance, such finding shall not render that provision invalid or unenforceable as to any other persons or circumstances. If feasible,any
<br /> such offending provision shall be deemed to be modified to be within the limits of enforceability or validity; however,if the offending provision
<br /> cannot be so modified,it shall be stricken and all other provisions of this Mor�gage in all other respects shall remain valid and enforceab;s.
<br /> Successors and Assigns. Subj�t to the limitations stated in this Mortgage on transfer of Grantor's interest, this Mortgage shall be binding
<br /> upon and inure to the benefit of the parties,their successors and assigns. If ownership of the Property becomes vested in a person other than
<br /> Grantor,Lender,without notice to Grantor, may deal with Grantor's successors with reference to this Mortgage and the Indebtedness by way of
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