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<br />107419
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<br />4. In the event the Property, or any part thereof, shall be taken by eminent
<br />domain, the Mortgagee is empowered to collect and receive all compensation which
<br />may be paid for any property taken or for damages to property not taken, and Mortgagee
<br />shall apply such compensation, at its option, either to a reduction of the indebtedness
<br />secured hereby or to repai r and restore the property so damaged.
<br />
<br />5, Mortgagee may, but shall have no obligation, to do any act which the Mortgagor
<br />has agreed but fails to do, and Mortgagee may also do any act it deems necessary to
<br />protect the lien hereof. Mortgagor agrees to repay, upon demand, any sums so expended
<br />by the Mortgagee for the above purposes, and any sums so expended by the Mortgagee
<br />shall be added to the indebtedness secured hereby and become subject to the 1 ien
<br />hereof. f~ortgagee ,shall not incur any personal liability because of anything it
<br />may do or omit to do hereunder.
<br />
<br />6. Time is the essence hereof, and upon Mortgagor's default in any covenant
<br />or agreement of this Mortgage, including covenants to pay when due 'the sums secured
<br />by this r~ortgage, the Mortgagee shall be entitled, at its sole option and without
<br />, notice, to declare all sums secured by this Mortgage to be immediately due and
<br />payable and may commence foreclosure of this Mortgage by judicial proceedings;
<br />and, provided further, that upon such default the Mortgagee, or a receiver
<br />appointed by a court, may at its option and without regard to the adequacy of the
<br />security, enter upon and take possession of the Property and collect the rents,
<br />issues and profits therefrom and apply them first to the cost of collection and
<br />operation of the Property and then upon the indebtedness secured by this Mortgage;
<br />said rents, issues and profits being assigned to the Mortgagee as further security
<br />for the payment of the indebtedness secured hereby.
<br />
<br />7. If all or any part of the property is sol d or transferred without the express
<br />written consent of the Mortgagee, Mortgagor may at its sole option, declare all sums
<br />secured by this Mortgage to be immediately due and payable,
<br />
<br />8. Any forebearance in exercising any right or remedy shall not be a waiver thereof
<br />
<br />9. All remedies provided herein are distinct and cumulative to any other right
<br />afforded by law or equity, and may be exercised concurrently, independently or
<br />successively.
<br />
<br />10. The covenants and agreements contained herein shall bind, and all rights
<br />inure to, the respective successors and assigns of the Mortgagor and the Mortgagee.
<br />
<br />11. All covenants and agreements of the Mortgagor and the Mortgagee ,are joint
<br />and several.
<br />
<br />12, Upon payment of all sums secured by this Mortgage, Mortgagee shall discharge
<br />thi s ~lortgage and shall execute and del i ver a sati s factory rel ease therefor,
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<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on the ~~ day of
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<br />np,,~h,.l'
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<br />, 19 87
<br />
<br />> //7 a/2'-"~ /}
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<br />STATE OF NEBRASKA, Hall
<br />
<br />County ss:
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<br />On th is 31st day of
<br />
<br />, 19 87, before me, the undersigned, a
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<br />December
<br />
<br />Notary Public duly commissioned and qualified for said county, personally came
<br />
<br />Marilyn L. Hayes
<br />
<br />, to me known to be the identical
<br />
<br />persons whose names are subscribed to the foregoing instrument and acknowledged the
<br />
<br />execution thereof to be their voluntary
<br />
<br />act and deed.
<br />
<br />J/k '
<br />/~~-8L~' ~'.~ll
<br />Notary u lic
<br />
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<br />GENERAL NOTARV._..-.mo
<br />II RICHARD L HEC:IIIAN
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