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<br />7. Candemsetion. In the mat the Property, orany part thereof. shall betaken by eminentdotmn,the Mortgagee
<br />k empowered to collect and receive all Compensation which may be paid for any property taken or for damages to property '
<br />!
<br />not taken, and Mortgages ate apply such compensation, at option, either to reduction of the Indebtedness soared
<br />its
<br />hereby or to repair and reatore:the property w
<br />>! Asetensumn by Modgaigue. Mortgagee may, but shall have no obligation, to do any act which the modpolor
<br />has,atb biN'taik to do. and may also do any act it deem necelessry to protect the Ilan balled, '
<br />%"" -to repay, upon demand, say seam ass by the Mortgagee for rise above purposes, and any anla� so ettp�ded
<br />dome ewder. to the U� herso[, Morto
<br />n dux door
<br />r my liafaipty omit
<br />of anythingititumayay it to do no,�tde>•.
<br />8. Def alt; Aaipass"t of Rasta. Time is of the essence hereof, and upon Mortgagors default in any oove>lmst
<br />or signumsent Of this Mortgage, including covenant to pay when due the sums secured by the Mortgage, tine Mortgagee
<br />be entitled, at its sole option and without notice, to declare all sum secured by this Mod#W .to be lmmedloteii due said
<br />payable and may conimence foreclosure of this Mortgage by judiclai proceedings; and, provided further, that upon,tatch '
<br />detatdt the Mortgagee. or a receiver appointed by a tout, may at its option and without regard to -the adequacy of rise
<br />mctnity, eats upon and take possession of the Property and coiled the rents, issues and profits tberefrom and apply the
<br />dart to the cost of collection and operation of the Property and then upon the indebtedness secured by this Mortgagee;
<br />acid rents; hones and profits being assigned to the Mortgagee as further security for the payment of the indebtedness
<br />secured hereby.
<br />10. 4Yaoster of Property. If all or any part of the Property is sold or transferred without the express written con-
<br />mat of the Mortgagee, Mortgagee may at its sole option, declare all sums.secured by this Mortgage to be immediately due
<br />and payable.
<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 secured by this
<br />Mortgage, not including sums advanced to protect the security of this Mortgage, exceed the original Mote.
<br />12. Miscellaneous Provisions.
<br />(a) Any forebearance in exercising any right or remedy shall not be a waiver thereof.
<br />(b) AN 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 />(c) The covenants and agreements contained herein shall hind, and the rights inure to, the respective
<br />successors and assigns of the Mortgagor and the Mortgagee.
<br />d
<br />O All covenants and agreements of We Mortgagor are joint and several.
<br />(e) 11ne headings of the paragraphs of this Mortgage are for convenience only and shall not be used to Inter -
<br />pret or Mine the provisions hereof.
<br />13. Release. Upon payment of all sums secured by this Mortgage, Mortgagee shalt discharge this A4otgage and
<br />shall execute and diver a satisfactory release therefor.
<br />N
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on the 22 day of Junta ,18
<br />^
<br />- sssrowar
<br />(James A. Bay)�;% T
<br />(lbarguerite M. Bay)
<br />titles of Nebraska, Hall county ss:
<br />to this 22nd day of June 19 -B-7 —, before me, the undersigned, a Notary Public
<br />duty commissioned and qualified for said county, personally came _ James A. Bay and MarglICS1 .s M.
<br />Ba_ yi Husband and Wife to roe known to be the
<br />b
<br />Identical persmu(s) whom name(s) are subscribed to the fc -going instrument and acknowledged the execution them—of,: °t
<br />is be their voluntary act and deed.
<br />Witness my hand and notarial seal at Grand island, Nebraska in said county, the ,
<br />date sf
<br />^�
<br />My Commission expires
<br />CL
<br />'(ate! a4 o. 11do Line Reamed Fa tender aaa Itmordw) —
<br />$4"�+
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