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8� 001
<br />is em 7. Condemnation. to the event the Property, or any part thereof, shall betaken by eminent domain, the MortgaW
<br />powered to collect and receive all compensation which may be paid for an
<br />not taken, and Mortgagee shall a Y Property taken or for to .property
<br />apply such comPensation, at its option, either to a reduction of the indebtedness
<br />Wired
<br />hereby or to repair and restore the property so damaged.
<br />8. Pe:fotmance by Martpgee. Mo
<br />has atgreed but fails to do, and Mort may a�isamdo; anutactait deems necessary to do any act which the k+[ortgsgor
<br />Wes to repay, upon demand, any sums so expended by the Mortgagee �' to protect the Tien hereof malftw
<br />by the Mortgagee rtgeby for the above pure and any sum so expended
<br />shad be added to the indebtedness secured hereby and become subject to the lien hereof M
<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 u
<br />oragreementof this Mortgage, including covenants to Pon Mortgagor's default tin any covenant
<br />be entitled, at its sole option and without notice, to dedareeall dsums secured by this Mort Mort, the Mortgagee ski
<br />Payable and may commence foreclosure of this Mortgage b judicial gorge to be immediately t a that due and
<br />default the Mortgagee, or a receiver a Y proceedings; and, provided further, that upon such
<br />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 u
<br />said rents, issues and profits being assigned to the Mort Pon the indebtedness secured by this Mortpgee-
<br />secured hereby. gee 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
<br />sent of the Mortgagee, Mortgagee without the express written con-
<br />and payable. may at its sole option, declare all sums.secured by this Mortgage to be immediately due
<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 />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 2oncurrently, 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 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 />shalt execute and deliver a satisfacto:v release therefor.
<br />IN WITNESS WHEREOF, Mortgagor has executed this ?Mortgage on the --5th day of .- �uiltr 191 -15—.
<br />Petersen Farms, Inc.
<br />04Pacr (,)w This none R ;-ved For Lender and Recordvr) - •--- •- ......_.., .
<br />t
<br />Boarower,
<br />State of Nebraska, ii,a i.�
<br />Pc�tHrsen) Borr ®wee
<br />ss:
<br />On this __.._day of..__ __._._.- ���______._..______.a.�
<br />19-85,—, before me, the undersigned, a Notary Public
<br />duly commissioned and qualified for said county, personally came ._.12an .
<br />_
<br />Pe (s) whose name(s) are subscribed to the fore foregoing to me known to be the
<br />g g instrument and acknowledged the execution thereof
<br />to be �_.., voluntary act and deed.
<br />WitnV&S my hand and notarial seal at.._____..._v___.
<br />of 'd
<br />,�l__...._.,a....____..
<br />,.. _ .-----.in said county, the
<br />MY 'on expires:
<br />NAM R40JERY
<br />�1111t ice, 0Ct.10,1
<br />aimC
<br />svotwy public
<br />04Pacr (,)w This none R ;-ved For Lender and Recordvr) - •--- •- ......_.., .
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