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<br />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 not taken, and Mortgagee shall apply such compensation, at its option for either to a reduction of the indebtedness snot
<br />hereby or to repair and restore the property so damaged.
<br />9• Performance by Mortgagee. Mortgagee may, but shall have no obligation, to do an act
<br />has agreed but fails to do, and Mortgagee may also do any act it deems n Y which Mortgagor
<br />agrees
<br />to repay, upon demand, any sums so expended by the Mort necessary to Protect the lien hereof.
<br />by the Mortgagee shall be added to the indebtedness secured hereby and becomevsubject , anlion ylsuma So exuded
<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 Of agreement of this Mortgage, Time
<br />covenants to pay when due the sums secured by tohrtis Wr mortgage s default in any coverpt
<br />hn entitled, at its sole option acid without notice, to declare all sums secured b this Mort � the Ma
<br />Payable and may commence foreclosure of this Mortgage Y to be immediately due and
<br />default the Mortgagee, or a receiver a by Judicial proceedings; and, provided further, that upon such
<br />security, appointed ed by a court, may at it,, option and without regard to the adequacy of the
<br />ty enter upon and take possession of the Property and collect the rents, issues and profits therefrom and apply there
<br />first to the cost of collection and operation of the Property and then upon the
<br />said rents, issues and profits being assigned to the Mortgagee m further security for the indebtedness secured by this debtednes '
<br />secured hereby. 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. Future Advances. Upon request of Mortgagor, Mortgagee may make additional and future advances
<br />Mortgagor. Such advances, with interest thereon, shall be secured by this Mortga
<br />stating that said notes are secured hereby. At no time shall the principal a ge when evidenced by romisso mount 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 :�oncurrentty, independently or successively.
<br />(c) The covenants and agreement,, 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 shalt 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 satisfacto -y release therefor.
<br />IN WITNESS WHEREOF', Mortgagor has execute"is Mortgage on the. 51Gh day of ._ Jun.
<br />Petersen) Borrows:
<br />• 1 �
<br />K. Petersen)
<br />State of Nebraska, lia I. _ l Borrower
<br />.__.._..-. _.____._..______- ____�_____ -_ -- __County ss:
<br />On this 5th day of .7une v
<br />- - - - -- 1y-- .B.5., before me, the undersigned, a Notary Public
<br />duly commissioned and qualified for said county, personally came
<br />`4
<br />Petersen
<br />identical person(s) whose name (s) are sutnrribe ~�T to me known to be the ' J
<br />O d to the foregoing g g instrument and acknowledged the execution thereof,
<br />to be _..a_thir ®.__._.___. voluntaryy act and deed.
<br />Witness my hand and notarial seal at _...___._.__ Grand Isl.andNt� . -._--- _,._ in said county, the `v
<br />date aforesaid.
<br />MY Commission expires:
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<br />04011CO Below This Line Reserved For Lender jnd Hecorder) _._..
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