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<br />I
<br />
<br />7. Condemnation. In the event the Property, or any part thereof, shall be taken by eminent domain, the Mortgagee
<br />is empowered io 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 repl\ir and restore the prop"rty 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 />shilll 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 Sllms 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 Mortgagl'e, 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 indl'btedness secured by'ihis
<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 thE'feof.
<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 I 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 onl~' and shall not be used to inter-
<br />pret or define the provisions hereof.
<br />
<br />13, Release. Upon payment of al1 sums secured by this Mortgage, Mortgagee shall discharge this Mortgage and
<br />shall execute and deliver a satisfactmy release therefor.
<br />
<br />IN WITNESS WHEREOF, Mortgagor has executed th\s Mortgage on the 23r9day of April
<br />
<br />.ly~ f:~-A~ ~
<br />L{)::tv-t~~ 8.1;7)"Y----
<br />Kenneth B. Knox
<br />\, }
<br />dh ~~ ,)i-, ~I-~
<br />Narilyn'M. Knox
<br />County S5:
<br />
<br />,19~.
<br />
<br />Boaower"
<br />
<br />Bol1'owu
<br />
<br />State of Nebraska,
<br />
<br />Phelps
<br />
<br />On this 23rd
<br />
<br />day of
<br />
<br />April
<br />
<br />, 19 J!!L, bffore me, tht~ uOldersigned, a Notary Public
<br />
<br />duly commissioned and qualified for said county, personally came Kenne th B. Knox and MaTi 1 yn M. Knox.
<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
<br />their
<br />
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<br />
<br />voluntary act and deed, .
<br />
<br />Witness my hand and notarial seal at
<br />date .roresaId .
<br />
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<br />MY1Zi~-:i]
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<br />Holdrege
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