85004297 - Laserfiche WebLink

Browse

7. Condemoatioa. In the event the Property, or any part thereof, shall be taken by eminent domain,the Mortgagee D. empowered to collect and receive all compensation which may be paid for any property taken or for damages to property not taken, and Mortgagee shall apply such compensation, at its option, either to a reduction of the indebtedness secured hereby or to repair and restore the property so damaged. E. perferessime by Mortgagee. Mortgagee may, but shall have no obligation, to do any act which the Mortgagor has agreed but fad to do, and Mortgagee may also do any act it deems necessary to protect the lien hereof. Mortgagor ape es to spay, upon demand, any sums so expended by the Mortgagee for the above purposes, and any sums so expended by the Nortp4ee shall be added to the indebtedness secured hereby and become subject to the Teem hereof. Mortgagee shall cot incur any personal liability because of anything It may do or omit to do hereunder. S. DetauR; An iganwat of Rents. Time is of the essence hereof, and upon Mortgagor's default in any covenant orapeement of this Mortgage, including covenants to pay when due the sums secured by this Mortgage, the ModVgee shall be eatitiled, at its tole option and without notice, to declare all sum secured by this Mortgage to be immediately due and payable and may commence foreclosure of this Mortgage by judicial proceedings; and, provided further, that upon such default the Mortpngee, or a receiver appointed by a court, may at its option and without regard to the adequacy of the aecuvity, eater upon and take possession of the Property and collect the rents, issues and proflta therefrom and apply them fiat to the cost of collection and operation of the Property and then upon the indebtedness secured by this Mortgagee; said rents, Wpm and profits being assigned to the Mortgagee as further security for the payment of the indebtedness aecured hereby. 10. Tramdfer of Property. If all or any part of the Property is sold or transferred without the express written con- sent of the Mortgagee, Mortgagee may at its sole option, declare all sums secured by this Mortgage to be immediately due and payable. 11. Future Advances. Upon request of Mortgagor, Mortgagee may make additional and future advances to Mortgagor. Such chances, with interest thereon, shall be secured by this Mortgage when evidenced by promissory notes Rating that said notes are secured hereby. At no time shall the principal amount of the indebtedness secured by this Mortgage, not including sum advanced to protect the security of this Mortgage, exceed the original Note. 12. Muceilaneous Provisions. (a) Any forebearance in exercising any right or remedy shall not be a waiver thereof. (b) All remedies provided herein are distinct and cumulative to ant' other right afforded by taw or equity, and may be exercised xoncurrentty,independently. o successively. (c) The covenants and agreements contained herein shall bind, and the rights inure to, the respective suecea&ors and assigns of the Mortgagor and the Mortgagee. (d) All covenants and agreements of tine !Mortgagor are joint and several. fe) The headings of the paragraphs of the. Mor!gagr are for convenience oni. v and shall not be used to inter- pret or define the prormon, hereof 13. Release. Upon payment of aft sums wvurcd ht !his Marigage. Mortgagee shall discharge this Mortgage and shall execute and deliver s satisfaeto.'p release theref- Pi WITNE -SS WHEREOF. Mortgagor has executed this Mortgage on the _..._ . day of bu. _'___ -. 19 S? i,T 1 I . :.1 ii�'w OL +u i 1i ,.rows' iPame1a S. El ;enweodi l,rtu,rer "a]1 State of Nebraska, ___.___ _...._._........_..__..._ _____... __. _(;aunty ss: on this day nf�u�ust _ lg_A _ Corr mr, the undersigned, a Notary Public "rmotfrs J. 1-1lenwocd a d i'amel.: S. dudy coenm iWoned and qualified for said county, personally came _ _._.._._.__ _ a Y E;l lenwood _ _ _ _ _ to me known to he the' identical person(s) whose namets) t1P subscribed to the foregiring instrument and acknowledged the execution thereof r to be, their r} d__....._�.__.__._..._.... vdunta' act and decd. Wetness my hand and notarial seal at .__._ Ur anri 1 s n 1e f a ska in said county. the dgr aforesaed . m ..__ __... / ley CArassission expires: room Noun NudIM a . 411111 •• tw. AHmu 'rhm IA— ken ,rd For "oder e d ft— ad O .Fiat