|
<br />13. Release. Upon payment of all sums secured by this Mortgage, Mortgagee shsll discharge - thiS Mortgage and
<br />shall execute and deliver a satisfactoi-Y release therefor. ":::\
<br />
<br />'N WITNESS WHEREOf. MO""'M "" .~."d Ib" Mort.... 00 Ih. Jl1h....., of Jan"ary . 1981L, ~ ~ ~
<br />
<br />
<br />~ fJ /H-. :3 ~~
<br />
<br />(Ma rcu s J. Sno Bo.rower' ~ ~ "\ t..\,
<br />
<br />~. . .. 0___ (::::)~ ':\- ~ ~
<br />(Pamela H( Snow) Borrower~
<br />County ss: ~
<br />1,
<br />On this 8th day of January , 19-BIL., before me, the undersigned, a Notary Public ~
<br />
<br />duly commissioned and qualified for said county, personally came Marcus J. Snow & Pamela H. Snow, ~ ~
<br />
<br />husband and wife , to me known to be the ~
<br />identical person(s) whose name(s) are subscribed to the foregoing instrument and acknowledged the execution thereof Th
<br />. :\
<br />to be their voluntary act and deed. ';::,
<br />
<br />Witness my hand and notarial scal at Grand Island. Nebraska in said county, the ~ ~
<br />date aforesaid. \. ~\-.
<br />
<br />~ My Commission expires: /O.P.JYlLL tt J jJ twu . ~ { ~
<br />:'~,' ~.II_""~ _ NOlaryPubllc ~~
<br />C\J DORA WUDv ')
<br />L' r-t y ...~-_... u
<br />o 0 u' - (spa"" Below This Line Reserved For L"nderand Recorder)
<br />Z '\)'<! _1:1= "J I..
<br />o ~.~ -:! I~ \~._,,~ ~~
<br />~ ,,,co ': ,,_
<br />_-c_ t~_ '"'-I a
<br />~lL ~J C)
<br />Jf.~-.c<-~....- ~ hJ
<br />&~ ~:.': :~: ~ \,." [~
<br />ClZ~: f. I j~
<br />U) c '-\
<br />CO
<br />GO
<br />
<br />I
<br />
<br />~<.
<br />
<br />LI
<br />!
<br />.
<br />-g
<br />~
<br />.1
<br />
<br />~
<br />f
<br />~
<br />
<br />7. Condemnation. In the event the Property, Qr any part thereof, shall be taken by eminent domain, the Mortgagee
<br />is empowered to collect arid receive all compensation which may be paid for any property taken or for damages to property
<br />not taken, and Milrtgagee 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 />
<br />8. Performance by Mortgagee. Mortgagee may, but shall have no obligation, to do any act which the Mortgaj!or
<br />has agreed but fails to do, and Mortgagee may also doany act it deems necessary to protect the lien hereof. Mortgagor
<br />agrees to repay, upon demand, any sums so expended by the Mortgagee for the above purposes, and any sums so expended
<br />by, the ,Mortgagee 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 may do or omit to do hereunder. -
<br />
<br />9. Default; Assignment of Rents. Time is of 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 by this Mortgage, the Mortgagt'e shall
<br />be entitled, at its sole option and without 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; and, provided further; that upon such
<br />default the Mortgagee, or a receiver appointed by a court, may at its option and without regard to the adequacy ofthe
<br />security, enter upon and take possession of the Property and collect the rents, issues and profits therefrom and apply them
<br />firSt to the cost of collection and operation of the Property and then upon the indebtedness secured by this Mortgagee;
<br />saiti rei1ls, issues and profits being assigned to the Mortgagee as further security for the payment of the indebtedness
<br />secured hereby.
<br />
<br />10. Transfer of Property. If all or any part of the Property is sold or transferred without the express written con-
<br />sent of the Mortgagee, Mortgagee may at its sole option, declare all sums ,secured by this Mortgage to be immediately due
<br />and payable.
<br />
<br />11. Future Advances. Upon request of Mortgagor, Mortgagee may make additional and future advances to
<br />Mortgagor. Such advances, with interest thereon, shall be secured by this 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 including suf!ls advanced to protect the security of this Mortgage, exceed the original Note.
<br />
<br />12. Miscellaneous Provisions.
<br />
<br />(a) Any forebearance in exercising any right or remedy shall not be a waiver thereof.
<br />
<br />(b) All remedies provided herein are distinct and cumulative to any other right afforded by law or equity,
<br />and may be exercised <:oncurrently, independently or successively.
<br />
<br />(c) The covenants and agreements contained herein shall bind, and the rights inure to, the respective
<br />successors and assigns of the Mortgagor and the Mortgagee.
<br />
<br />(d) All covenants and agreements of the Mortgagor are joint and several.
<br />
<br />(e) The headings of the paragraphs of this Mortgage are for convenience only and shall not be used to inter.
<br />pret or define the provisions hereof.
<br />
<br />State of Nebraska,
<br />
<br />Hall
<br />
<br />I
<br />CO
<br />GO
<br />
<br />I
<br />J.
<br />
<br />
<br />I
<br />j
<br />.'
<br />h
<br />
<br />...;.;
<br />
<br />, ,
<br />
<br />NBC 1066 INIl 303 2/80
<br />
|