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7. Comiefflanation. In the event the Property, or any part thereof, shall be taken by eminent domain, the Mortgagee
<br />is empowered to collect and recelve all compensation which may he paid for any property taken or for damages to property
<br />not taken, and M 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 />& Pertwmance by Mortgagee. Mortgagee may, but shall have no obligation, to do any act which the Mortgagor
<br />has' agreed but fails to do, and Mortgagee may also do any act it deems necessary to protect the lion hereof. Mortgagor
<br />agreas to repay, upon demand, any sums co expended by the Mortgagee for the above purposes, and any sutra so expended
<br />by the Mortgagee ahall be added to the Indebtedness secured hereby and become subject to the lien hereof, Mortgagee
<br />sludl not incur any personal liability because of anything it may do or omit to do hereunder,
<br />8. Uetimit; Assigiantent of Ratio. Time is of the essence hereof, and upon Mortgagor's default in any covensnrt
<br />or agreement of this Mortgage, including covenants to pay when due the sums secured by this Mortgage, the Mortgagee shalt
<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 • 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 />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 />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 Note.
<br />12. Miscellaneous Provisions.
<br />(a) Any forebesrance in exercising any right or remedy shall not be a waiver thereof.
<br />(b) All remedies provided herein are distinct and cumulative to any other right afforded by law or equity,
<br />and may be exercised --oneurrently, independently or successively.
<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 />(d) All covenants and agreements of the Mortgagor are joint and several.
<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 />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 />IN WITNESS WHEREOF, Mortgagor has executed thi n t st day of July 1987
<br />/f
<br />r
<br />,(RO A uist) Borrower, ---�
<br />(Marcia K. Almquist) Borrower
<br />State of Nebraska, Hall County ss:
<br />On this 1st bey of Jul 1957 , before me, the undersigned, a Notary Public
<br />duly commissioned and qualified for said county, personally came Robert D. Almaui,&t & WlrriA V_
<br />Almquist , to me known to be the_
<br />Identical person(s) whose names) are subscribed to the foregoing instrument and acknowledged the execution thereof` i
<br />to be their voluntary act and deed.
<br />Witness my hued and notarial seal at Grand 3n said county, the
<br />data Aforesaid. / c
<br />My Commission expires: >
<br />� M� Nodary t'aYtic
<br />y.
<br />Below 1MSe L4rie Reserved Your Lts,xlet and Recorder) ------- _--- ____�r.�
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<br />%a(= t . MV ..
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