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<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 lakpl\ 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, hut shall have no obligation, to do any act which the Mortga~or
<br />has agreed but fails to do, and Mortgagee may also do any act it deems necessary to protect the lirll 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 Rny 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 a-c:signed 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 shaH 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 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 Mortgagt1 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 sums secured by this Mortgage, Mortgagee shall discharge this Mortgage and
<br />shall execute and deliver a satisfactory release therefor.
<br />
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on the 1.5.1b day of April
<br />
<br />, 19 -.S.L.
<br />
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<br />Bonower ,- ""
<br />
<br />State of Nebraska, Hall County ss: ~
<br />
<br />On this 25th day of April , 19-88-...-, before me, the undersigned, a Notary Public ~ ~
<br />
<br />duly commissioned and qualified for said county, personally came RirhClrn F. Jp.nnifp.r I Ml'Irtif1e7 .... ~ "\.'
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<br />. ' to me known to be the ~ ~ ~ ... t
<br />identical person(s) whose name(s) are subscribed to the foregoing instrument and acknowledged the execution thereof~ . . ~ ~
<br />
<br />to be thp.ir voluntary act and deed, \ ~ " ~
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<br />date afor:s~~~e.ss my hand and notarial seal at Grand Island, nebraSka 1 J'" ..,. ,""nly, th.~~'1 ')
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