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<br />I"
<br />
<br />John
<br />
<br />L
<br />
<br />88-101055
<br />
<br />7. Condemnation. In the event the Property, or any part thereof, shall be 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 Mortgaj!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 default 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 indebtedness secured by this Mortgagee;
<br />said rents, 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 seemed 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 cumulative to any other right afforded by law or equity,
<br />and may be exercised concurrently, 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 />13. Release. Upon payment of all sum~ secured by this Mortgage, Mortgagee shall discharge thiS Mortgage and
<br />shall execute and deliver a satisfactory release therefor.
<br />
<br />rtgagor has executed this Mortgage on the-21L- day of FphrlUp-y ,19~.
<br />The Abundant Life Christian Center, Lnc.
<br />e
<br />Trus tee ? s:: CV',.
<br />
<br />Trustee
<br />
<br />
<br />Hall
<br />
<br />
<br />er
<br />e
<br />
<br />County ss: By:' Trus tee
<br />
<br />, 1988 before me, the u ersigned a No~ Public
<br />Donara E. Arnold res., ~radley L. Brush, Sec.
<br />duly commissioned and qualified for said county, personally came Norman N. McCart~y. Treas.. Clare Schmid t, Ttee
<br />Dale Ackerman, Trustee, Karl Hughes, Trustee, Tom Atkins, Trustee, Harlon Hasselmann, Ttee.,
<br />S~eder'J Trlll':t~~ of Th~ Ahnnd.mt T,;fp Chr;~ti"m Cpntpr, Tnr ,to me known to be the
<br />identical person(s) whose name(s) are subscribed to the foregoing instrument and acknowledged the execution thereof
<br />
<br />On this
<br />
<br />28
<br />
<br />day of
<br />
<br />February
<br />
<br />to be
<br />
<br />thp;r
<br />
<br />voluntary act and deed. '
<br />
<br />Witness my hand and notarial seal at
<br />date aforesaid.
<br />
<br />My Commission ex res,:6GEIERAl~. AR~:r
<br />,~ .,r.a~lIIc.13..
<br />
<br />Grand Island, Nebraska
<br />
<br />in said county, the
<br />
<br />Ll~;:l(~
<br />
<br />Notary Public
<br />
<br />(Space Below ThlI Line Reserved For Lender and Recorder)
<br />
<br />.1
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<br />
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<br />
<br />Nit() 106ft IN!> 803 2/80
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