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86- 104748 3. INSURANCE AND REPAIRS. Mortgagor shall maintain fire and extenaea coverag-T��Tnsurance insuring the improvements and buildings constituting part of the property for an amount equal to the actual cash value of such improvements, exclusive of foundations, but in no event for an amount less than the amount of the unpaid principal balance of the Note. Such insur- ance policies shall contain a standard mortgage clause in favor of the Mortgagee and shall not be cancellable, terminable or modifiable without ten (10) days written notice to Mortgagee. Mortgagor shall promptly repair, maintain and replace the Prop- erty or any part thereof so that, except for ordinary wear and tear, the Property shall not deteriorate. In no event shall the Mortgagor commit waste on or to the Property. 4. OPTIONAL ADVANCES. If the insurance required above is not prompt Ty—e-Hected, or if the taxes or special assessments levied and assessed against the Property shall be- come delinquent, Mortgagee (whether electing to declare the whole Mortgage due or not), may, but need not, effect such insurance, effect such repairs,' pay such taxes and special assessments, and all such payments with interest thereon at the highest legal rate applicable to a natural person I , or if the Mortgagor is a corporation, or partnership, or other entity at the default rate provided in the Note, from time of payment shall be a lien against the Property. 5. ACCELERATION AND RECEIVERSHIP. If default shall be made in the payment or the N te, or any part of the interest thereon, or any other advance or obligation which may be secured hereby, such as taxes, special assessments, insurance and repairs, or if Mortgagors shall suffer or commit waste on or to the Property, or if there shall be a failure to comply with any and every condition of this Mortgage, then, at the option of the Mortgagee, the Note and the whole of the indebtedness secured by this Mortgage, including all payments or taxes, assessments, repairs or insurance premiums, shall become due and shall become collectible at once by foreclosure or otherwise after such default or failure, and without notice of such default. At any time after the commencement of an action in foreclosure, or during the period of redemption, the Mortgagee shall have the right to have a receiver appointed to take immediate possession of the Property and of the rents and profits accruing therefrom, and to rent or cultivate the same as the Receiver may deem best for the interest of all parties concerned. 6. MISCELLANEOUS. The term "Mortgagor" and "Mortga- gee" as used herein, includes successors in interest. This Mortgage shall be construed in accordance with the laws of the State of Nebraska. The maturity date of the Note is August 12, 1990. Each party signatory to this Mortgage hereby releases, waives, and relinquishes any dower, homestead, or statutory interest in the Property or any part hereof and waives, to the extent permitted by law, any rights of redemption in or as to M 14 La I