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7. Condemnation. In the event the Property, or any pan thereof, shall betaken by eminent domain, the Mortgagee
<br />is empowered to collect and receive all compensation which maybe 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 ao 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 />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 />9. 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 pay whey, 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 cuurt, 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 al. its sole option, declare all sums secured by this Mortgage to be immediately due
<br />and payable.
<br />11. Future Advances Upon rhquest or 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 or successiveh•.
<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 shali 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 satisfacto,v_ release therefor.
<br />�L
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on the day of 19 _f`&.
<br />v
<br />!Couq. S D. .'vXIOrda? y no; rower
<br />- -- -
<br />Ftorrower
<br />State of Nebraska, Hall
<br />On this
<br />-day of f_ - �_ 19 sue_-__, before me, the undersigned, a Notary Public
<br />Douglas U. Axford :s
<br />duly qo issioned and yualif{ed for said county, personally came _—
<br />to me known to be the
<br />identi:z;::— h name(s) are subscribed to the foregoing instru)nent and acknowledged the execution thereof.
<br />to be -- voluntary act and deed.
<br />` Vl
<br />Witness my hand and notarial seal at ___ Gran3 L!a_ an6_14 _in said county, the \
<br />date aforesaid. — -
<br />,� My Commission expires:
<br />•. Vet - -- -t- `''� =` — +�- _i�G"' ��- #�.� =___ _ --
<br />�) #at MatMlY-Staa of geD•IrkY A
<br />Notary Pubbc 'T
<br />JON F. LUEES i
<br />By tllw Elp. juiy 17 1985
<br />-- - - - - -- - - - -- (SP.— relou This Line Renewed Eor i.ender and recorder) ------_-----------------
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