|
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 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 restore the property so damaged.
<br />8. Performance 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 lien hereof. Mortgagor
<br />agues 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 />S. 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 prey 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 />fiat 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 forebearance 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 :oncurrently, independently o? 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) P11 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 exe to this M on the 5th day of May 19 _Bra__.
<br />ona!(f-Ja s) Borrower
<br />(Bonnie M. James) Borrower "N
<br />State of Nebraska, Hall County ss:
<br />On this 5th day of May 19 —$6 , before me, the undersigned, a Notary Public
<br />duly commissioned and qualified for said county, personally came - Dona lei and Ronnae James, huchancf
<br />\�
<br />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 />to be their voluntary act and deed.
<br />Witness my hand and notarial sea] at Grand 1 gland, Nebraska in said county, the
<br />c \
<br />date aforesaid.
<br />trrau * 1A tow ar Nswsa4
<br />\
<br />My commission expires: THERESA id. STARKEY
<br />SOU_ 7; 1�2
<br />Yusk><.191�
<br />M' fW U Notary Public
<br />_.
<br />•
<br />a
<br />o� (Space Below This Line Reserved For Lender and Recorder)
<br />Z
<br />C:)
<br />--
<br />SN
<br />E
<br />C
<br />i
<br />co
<br />C
<br />W
<br />-
<br />N'lW 1066 [NU 3011 y1o)
<br />
|