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<br />- 7. -Condemnation. In the event the Property, or any part thereof, shalt be taken by eminent domain, the Mortgagee
<br />is empowered W 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 agmed but-fails £o do, and Mortgagee may also do any act it deem; necessary to protect the lien hereof. Mortgagor
<br />agrees to repay, upon demand, any sums so expended by the Mortgagee for the above purposes, and any sums so expended
<br />by the Mortgagee shall-be added fo the indebtedness secured hereby and become subject to the lien hereof. Mortgagee
<br />shall riot-incur any personal Liability because of anything it may do or omit to do hereunder.
<br />9. Default; Assignment of Rents. Titne is of the essence hereof, and upon Mortgagor's default in anq covenant
<br />oragreamentof this Rlortgage,including covenants to pay when due the sums secured by this Mortgage, the Mortgagee shalt
<br />be entitled, at its-sole option and w9thout notice, to declare alt sums secured by this Mortgage to be immediately due and
<br />payable and: may commencr 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 />secvuity, 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 />tfl. Transfer of Property. If alt or any part of Ghe Property is sold or transferred without the express written con-
<br />sent of the Mortgagee, &Iortgagee may at its sole option, declare all sums secured by this Mortgage to be immediately due
<br />acrd payable.
<br />11. Future Advances. upon request of Mortgagor, Mortgagee may make additional and future advances to
<br />Mortgagee. Such advances, with interest thereon, shall be secured by this Mortgage when evidenced by promissory notes
<br />stating that said Hates 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 ibis h3ortgage, exceed the original Note.
<br />12. Miscellaneous Provisions.
<br />(a) Any forebearance in exercising env right or remedy shall not be a waiver thereof.
<br />(b) All remedies provided herein are distinct and cumulative [o any other right afforded by law or equity,
<br />and may beexercised -concurrently, independently or suecessicely.
<br />(c) The covenants and agreements contained herein shall bind, and the rights inure to, the respective
<br />successors and assigns of the ;slortgagor and the Mortgagee.
<br />{d) Allcovenants and agrnemen4s of tht• Aortgagor are joint and several.
<br />{e) The headings of the paragmghs of this Mortgage are for ~Ymvenienec only and shalt not be used to inter-
<br />pret or define the provisions hereof.
<br />13. Release. Upon payment of all sums secured b}' this 4longage, :llongagee ,hall discharge this Mortgage and
<br />shall executeand deliver a satisfacton~ release theret'or.
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage na the Z~thday of ___ Tan lg 83 .
<br />F, D, & L DL"VEII~Pbil~Tl' GROL~, A Nebraska Partnership
<br />by: RFAT ESTATE I:]VFSIORS, INC.
<br />_ _ -- _-y~--.-~-
<br />t..~`-7-Ri~1'~ C~tt~dividnally
<br />~ Borrow r
<br />Virg is A. McDerntott /Vir nia A. McDermott,
<br />Stara of Nebraska _ Hall _ county ,~: Individually
<br />On this ?Rth da}' of ____iTaSlll&TB--_ __. __. 14 _$3, befom me, the undersigned, a Notary Public
<br />duly commissioned and gtudifted for said county, personally came ..._..Ni~ls.. ~.1t'k'TY'rnntt_3r1t1__.____._..
<br />Virginia A. Met)erniott _ _ _ _ ______, to me known to bP the
<br />identical person{s) whose Homers) are sut,,scribed to the foregoing instrument end acknowledged the execution thereof
<br />to be tl] S and, ~''~ ~ voluntary act and deed.
<br />Wltn~s my hand and notarial seal at ----..---- Grand Island .____---__---__...-.~_ _. in said county, the
<br />date aforPSain.
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