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7. Candemnatioa In the event the property, or any part thereof, shall fie taken by eminent domain, the Mortgagee
<br />is empowered to co!}ect and receive all compensation wlrich 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 fall's to do, and Mortgagee may also do any act it deems necessary to protect the tien hereof. Mortgagor
<br />agrees. tg repay, upon demand, any sums ro expended by the Mortgagee for the above purposes, and any sums so expended
<br />by the Mortgagee shall be added to the indebtedness secured hereby and become subject to the lien hereof. Mortgagee
<br />shall not inciti any personal Eialiility because of anything it may do or omit to do hereunder.
<br />9:' llefaalt; Assignment o[ Rents. Time is of the essence hereof, and upon Mortgagor's default in any covenant
<br />or'agreement of this Mortgage; including covenants to pay when due the sums secured by this Mortgage, the Mortgagee shall
<br />be entitled, at its sole option and without notice, to declare atlsums secured by this Mortgage.to be immediately due and
<br />papabie and may commence foreclosure of this Mortgage by judicial proceedings; and, provided further, that upon such
<br />defaWt the Mortgagee, or a receiver appointed by a court, may at its option and without regard to the adequacy of the
<br />security, enter upon and Lake possession of the Property and collect the rents, issues and profits therefrom end apply them
<br />first to the cast of collection and operation oP 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 />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 sutras 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 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) Alt remedies provided herein are distinct and cumulative to any other right afforded by law m equity,
<br />and may be exerased concurrently, independently or successively.
<br />(e) 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 oNy and shall not be used to inter-
<br />pret ar 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 satisfactory release therefor.
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on the 2_ day of Fah . ,1983._.
<br />f~~ ? i7 1
<br />(Lavern D. ScarbPrough) ~~~'
<br />3 /
<br />(Theresa A. Scarborough} t aouower.
<br />State of Nebraska, ~x ll County ss:
<br />On this 4th day of February 19_.$x., be[ore me, the undersigned, a Notary Public
<br />duty commissioned end qualified for said county, personally came Lavern D. ScajboroygjL~p There A.
<br />Scarborough , to tae known to be the
<br />identical person(s) whose name(s) are subscribed to the foregoing instrument and acknowledged the execution, thereof
<br />to be their voluntary act and deed.
<br />Witness my.hand and notarial seal at Grand Island , NE in said county, the
<br />date aforesa;d .
<br />My Co on ex~rMialla /~ ::*~ ~ ~ ~ .r . ~_
<br />1r.~~~ ~~- - Notary Public
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