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<br />7. Condemnation. In the event the Property, or any part 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 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 />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 when due the sums secured by this Mortgage, the Mortgagee shall
<br />be entitled, at its sole option and without retice, 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 tha 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 />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 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 °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 />te) 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 satisfact.o:_v release therefor-
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on the.1_ day of
<br />ougl Is D. ixf OLCt -� Ro.rower
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<br />State of Nebraska, ------County -is:
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<br />before me, the undersigned, a Notary Public `.
<br />On this 4 _ day of g ry a\
<br />duly c7missioned and qualifild for said county, personally came —___ Douglas D. Axford Y- y
<br />/L _ _ to me known to be the
<br />i ntical PC whos�s are subscribed to the foregoing instrument and acknowledged the execution thereof
<br />to be — voluntary act and deed.
<br />Witness my hand and notarial seal at ---------Grand
<br />- - -_ - -. Grand Is land,, IqE in said county, the
<br />date aforesaid.
<br />\ My Commission expires:
<br />hulk", -���•° �' "` ' "4 � Notary Public r.
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<br />j0N F. LUEBS
<br />ty comm. EW Jab 11, 190
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