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<br />7. Condemnation. In the event the Property, or any part thereof, shall be taken by eminent domaln, the Mortgagee'
<br />Is empowered to collect and receive all compensation which may be pald 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~tore the property so damaged.
<br />
<br />8. Pertonnance by MOJ1Iqee. Mortgagee may, but shall have no obligation, to do any act which the Mortgagor
<br />has qreed but falls to do, and. Mortgagee miy llso do any act it deems necessary to protect the lien hereof. 'MOltpgor
<br />qrees to repay, upon demaild,:1DY BUD so expended by the Mortgagee for the above pUlpO&eS, and any sumBO expended
<br />by the Mortgagee shall be idded to the indebtedness secured hereby and become subject to the lien hereof. Mortgagee
<br />shall not Incur any peraonallitbUlty llecause of anything It may do or omit to do hereunder.
<br />
<br />9. Default; A&IIgnment of Rents. .Time is of the essence hereof, and upon Mortgagor's defaUlt in any covenant
<br />or agreement of this Mortpge, Including covenants to pay when due the sums secured by this Mortgage, tllti"Mortpgee shall
<br />be entitled, at Its sole option. and without iJo.tice, to declare all sums secured by this Mortgage to be hnmedlately due and
<br />payable anil may commence toreclcsure of this Mortgage by judicial proceedinp; and, provided furUier, 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, Iuues and profits therefrom and apply them
<br />tint to the cost of collection and operation of the Property and then upon the indebtedness secured by this Mortgagee;
<br />said rents, issues and protlts being assigned to the Mortgagee u 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 iii 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 whim evidenced by promissory notes
<br />stating that said notes are secured hereby. At no time shall the principal amount of the indebtedness seciiiied by this
<br />Mortgage, not Includinfsums advanced to protect the security of this Mortgage, exceed the original Note. .
<br />
<br />12. Miscellaneous ~isions.
<br />
<br />(a) Any forehearance 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 tbe 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. Releue. Upon payment of all sums secured by this Mortgage, Mortgagee shall discharge this Mortgage and
<br />shall execute and deliver a satisfactory releue therefor. ..
<br />
<br />IN """"" ""O"OF, M._.... ._Rd''''' _~J~n.
<br />
<br />
<br />
<br />(Gene }!\, Olsen)
<br />
<br />~~1
<br />re e A. Olsen)
<br />
<br />, 19---B.
<br />
<br />lImrowc-
<br />
<br />/7 /)_
<br />(--/. ~~~
<br />Borrower
<br />
<br />State of Nebraska,
<br />. -;'\.
<br />, ~~~ ~ .. _ 0'1 this 24th day of June , 19-1l1L. before me, the undersigned, a Notary Public
<br />
<br />{~S:JS duly commissioned and qualified for said county, personally came Gene A. Olsen and Florence A. Olsenu
<br />~ ~ ~ \' , to me known to be the
<br />~ ~ Identical person(l) whose name(s) are subseribed to the forellolnl instrument and acknowiedged the ell:l!CUtion thereof
<br />
<br />~ ~ to be their voluntary act and deed.
<br />f... ~'.
<br />~ ~ ~ '- Witness my hand and notarial seal at Grand Island. Nebraska in said county, the
<br />; ~ ~ date aroresaid.
<br />
<br />~ ~ \ My Commiulon expi,": Q~, ~ u J.p ~~,~ )
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<br />N.c 106. INO M' 2/10
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