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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 />r not taken, and Mortgagee shall apply such compensation, at Its option, either to a reduction of the indebtedness secured
<br />i hereby or t; repair and restore the property so damaged.
<br />0. Pedotmanee by Mortgagee: Mortgagee may, but "I have no obligation, to do any act which the Mortgagor
<br />has. agreed but halls to do, and Magee L may also do any act it deems necessary to protect the lien hereof. Mortgagor
<br />apaee to ropy, upon demand, any sums so expended by the Mortgagee for the above purposes, and any sums so expended
<br />by the Mortgagee shalt be added to the indebtedness secured hereby and become subject to the lien hereof. Mortgagee
<br />shalt not incur any'personal liability because of anything it may door omit to do hereunder.
<br />9. Default; Asdgnment of Rents. Time is of the essence hereof, and upon Mortgagor's default In any covenant
<br />orepeeraent of this Mortgage, including covenants to pay when due the suns 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 />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 />Mortgsge, not including sums advanced to protect the security of this Mortgage, exceed the original Note.
<br />11 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 concurrently, 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 />(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 executed this Mort on the 2 day o 19 HS-.
<br />(RoCiney ea er „ ae.rorrp
<br />(Michelle R. Leibert) *�
<br />On this __2f?___ day of .__ March 19$.5_, before me, the undersigned, a Notary Public
<br />duly commissioned and qualified for said county, personally come_ Rodney D Leibert and
<br />Michelle R. Leibert , to me known to be the
<br />Identical persoh(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 real at --- Grand -I sncj, _-___. -------- in said county, the
<br />dale .
<br />My Commission expires:
<br />ion- d -�5'
<br />Ile
<br />1;XnT L Noutry Public
<br />1106MCOAMA MI e Plow This tine Reserved ror Lender and Recorder) ._..a.. .____.... ..,.,�..__...�e.�__._..__�.P.._
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