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<br />I
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<br />7. Condemnation, In the event the Property, or any part thereof, shall bl' taken by eminent domain, the Mortgagee
<br />is empowered to collect and receive all compensation which may be paid for any property taken or for damages 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 />
<br />8, Performance by Mortgagee, Mortgagee may, but shall have no obligation, to do any act which the Mortgal!or
<br />has agreed but fails 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 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 defauJt in any covenant
<br />or agreement of this Mortgage, including covenants to pay when due the sums secured by this Mortgage, the Mortgagee 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 of the
<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 indl'btedness sl'cured by this Mortgagee;
<br />said rents, issues and profits being assigned to the Mortgagee as further security fo~ 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, declaw all sums secured by this Mortgage to be immediately due
<br />and payable.
<br />
<br />11, Future Advances. Upon request of Mortgagor, Mortgagee ma~' 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 sums 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 cumulati\'e to any other right afforded by law or equity,
<br />and may be exercised ::oncurrently, independently or successi\'ely.
<br />
<br />(c) The covenants and agreements contained herein shall bind, and the rights inuw to, the wspective
<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 shalt not be used to inter.
<br />pret or define the provisions hereof.
<br />
<br />13. Release. Upon payment of all sums secured by this Mortgage, ~lortgagee shall discharge this Mortgage and
<br />shalt execute and deliver a satisfacto.)' release therefor.
<br />
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on the nrdday of january
<br />
<br />,19.81L.
<br />
<br />BorTowt'r
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<br />1'VV-'l_l'O-1 L .-/
<br />
<br />(Harold L. Johns n
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<br />
<br />Bo.rower'
<br />
<br />State of Nebraska,
<br />
<br />Hall
<br />
<br />County ss:
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<br />0-:::::--
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<br />day of Januat.y . 19--.Ba.. before me. the undersigned, a Notary Public \, \'
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<br />duly commissioned and qualified for said county. pt'rsonally came Harold L. Johnson and Kathryne M."~ "
<br />'.
<br />Johnson. husband and wife . to me known to be the i\ \,,' ,,';
<br />identical person(s) whose name(s) aw subscribed to the fowgoing instrument and acknowledged the execution thereof .~ j\\" ,"!
<br />
<br />to be their voluntary act and deed, '....\..~ '~ J
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<br />in said county. the '1 ',' /
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<br />Witness my hand and notarial seal at
<br />date aforesaid.
<br />
<br />Grand Island. Nebraska
<br />
<br />On this
<br />
<br />23rd
<br />
<br />My Commission expires:
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