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7. Condemnation. In the event the Property, or any part thereof, shall betaken by eminent domain, the Mortgagee
<br />is empowt and to collect iseA receive all compensation which maybe paid for any property taken or for damages to property
<br />not taken, and Mortgagee shad 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 />E• lWarmance by Mortgagee. Mortgagee may, but shall have no obligation, to do any act which the Mortgagor
<br />hie agreed but fails to do, and Mortgagee may shw 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 UOrtgagee shall be added to the indebtedness secured hereby and become subject to the lien hereof. Mortgagee
<br />shall not incur rany persomil 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 />oragreement of this Mortgage, including covenants to pay when due the sums secured by this Mortgage, the Mortgagee shall
<br />be entitled, at its We option and without mice, to declare all sums secured by this Mortgage to be immediately due and
<br />payable and may comrnenot 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 />first to the cost of collection and operation of the Property and then upon the indebtedness secured by this Mortgagee;
<br />said tents, 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 />sating 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 successively.
<br />(c) The covenants and agreements% contained herein shall bind, and the rights inure to, the respective
<br />successors and assigms 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 on:y 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 this Mortgage on the _4th day or 141np
<br />Baker Borrower
<br />James L McElroy, Sr.) X Borrower
<br />r'fr
<br />State or Nebraska, — Hall= �`------ __.,_ -- county ss:
<br />On this .— 4th _____ day of June 19Z15_, before me, the undersigned, a Notary Public ,\
<br />duly commissioned and qualified for said county, personally came —111hn W - Raker and L — v
<br />1t•— SCE - - -'— ----- - - -- -- _, to me known to be the 1.
<br />identical person(s) whose namefs) are subscribed to the foregoing instrument and acknowledged the execution thereof .
<br />to be their — _ - -.._ voluntary act and deed. U
<br />Witness my hand and notarial seal at _ Grand I eland, fJPhr cka in said county, thee. c,
<br />date aforesaid . `-j
<br />My Commission expires: 14
<br />,...\ /'.. Notary Public
<br />tSDaee Pdow ThM Una Reserved For lender and Recorder)
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