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<br />7. C denumtion. In he 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 />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 necemary to protect the lien hereof. Mortgagor
<br />to repay, upon demand, any sums so expended by the Mortgagee for the above purposes,
<br />by the M gee shall be added'to the indebtedness secured hereby and becomes bjecc the lien hereof Mom
<br />shall not incur any personal liability because of anything it may do or omit to do hereunder. Mortgagee
<br />9. Default; Assignment of Rents. 'Dime is of the essence hereof, and upon Mortgagor
<br />or agreement of this Mortgage, ;ncluding covenants to pay when due the sums secured by thists default in any covenant gage, the be entitled, at its sole option and without notice, to declare all sums secured by this Mortgage to be immediately du and
<br />Payable and may commence foreclosure of this Mortgage by judicial proceedings; and
<br />default the Mortgagee, or a receiver appointed by a court, may at its option and without rregard to the@radeq upon such
<br />security, enter upon and take possession of the Property and collect the rents, issues and profits therefrom and �Y of the
<br />first to the cost of collection and operation of the Pro apply them
<br />said rents, issues and profits heir assigned �� and then upon the indebtedness secured by this Mortgagee;
<br />secured hereby, g geed to the Mortgagee as further security for the payment of the indebtedness
<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. Fugue 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 Mort gage, exceed the original Note.
<br />12. Miscellaneous Provisions.
<br />(a) Any forebearance in exercising any right or remedy shalt 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) Tfie covenant% 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) 'Ilse 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. shall execu d delivery a satiis°fac to; y�rrelease therefor end by this Mortgage, Mortgagee shaft discharge this Mortgage and
<br />IN WITNFSS WHEREOF, OF, Mortgagor has executed this Mortgage on the ._.� day of . Juries
<br />' , 198.5,.__..
<br />(Richard R H i e=b) Bo.rower-
<br />State of N
<br />( Ar v i ? ? a fl. Ei i � b) Borrowar
<br />�i -
<br />a1I
<br />ss:
<br />On his day of ...___,1.tis1.._..__ 19 i3ri
<br />before me, the undersigned, a Notary Public
<br />duly commissioned and qualified for said county, Personally came _.� .ekic h�irr +3 R„ llieb and Arvi ]]. i s tI? .®
<br />._
<br />fl a. e> ka ._ _
<br />to me known to be the
<br />identical peraon(s) whose nanie(s) are sub cribed to the foregoing instrument. and acknowledged the execution hereof
<br />to be .-_L..h____.___..._._. - voluntary act and deed,
<br />Witness my hand and notarial seal at., . _..._....
<br />of d"�� N . in said county, the `\
<br />My Commission expires: NOTARI' ! d
<br />t (IU �Cf ,
<br />2z INS
<br />Natary Pui�►ie � ��
<br />(Spare "Wow This Lim, Reserved For Lander and Recorder) ._ . -. .
<br />o
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