|
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 a!1 compensation which may be paid for any property taken or for damages to property
<br />not taken, and Mortgagee shalt 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 oblegation, to do any act which the Mortgagor
<br />has agreed but fails #o do, and Mortgagee may also do any act it-deems necessary to protect the lien hereof. Mortgagor
<br />agrees to repay, upon demand,-any sums so expended 6y 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 !near anp personal liability because of anything it may do or omit to do hereunder.
<br />9. Ilefault; Assignment of Rents. Time is of the essence hereof, and upon Mortgagor's default in any covenant
<br />aragreement of tills 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 all sums secured 6y this Mortgage,to be immediately due and
<br />payable and"may commence foteelosure 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 />security, enter upon and lake possession of the Property and collect the rents, issues and pro5ts 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 />10. Transfer of Property. If ail 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 snake 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 roncurrently, independently or succe~ively.
<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) Alt covenants and agreements of the Mortgagor are joint and several.
<br />(e) The headings of the paragraphs of this Mortgage are for rnnveaience only and shall not be used to inter-
<br />pret or define the provisions hereof.
<br />13. Release. Upon payment oP 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~~ day of ~ebrua~y , lg$~' _,
<br />l /~ ~ a
<br />(Gary Strehle) eo:rower
<br />f ~ ~/~~J ~~ .~ a
<br />( onne D. Strehle) aO1iO"1e1
<br />State of Nebraska, )jell County ss:
<br />On this lath day of February 19_$3__, before ma, the undersigned, a Notary Public
<br />' i, SS
<br />'. ~ ~- C~
<br />duly comarissioned and qualified for said county, personalty came Gary R. Strehle and Yvonne D .
<br />Strehle to me !mown to be the
<br />identical person(s) whose name(sj are sul~cribed to the foregoing instrument and acknowledged the execution thereof
<br />~ be their voluntary act and deed
<br />Witness my hand and notarial seat at
<br />date aforesaid.
<br />My Coulrutrsian expires:
<br />i~ t~J~A•Ni~
<br />a~.~rAr ~lnal~l~
<br />t~
<br />~"
<br />~cS
<br />~~U
<br />~ ~ ~
<br />rv ~ ~~,
<br />m ,~
<br />~: ,r( • i
<br />~~ N
<br />~ .}`4 \:
<br />~.
<br />rand Island, NE in said county, the
<br />..`~ . ;,'~~~/
<br />~~~f~f"~1'tj,Ct+'J~ r
<br />Notary Pubiio
<br />- (SFace Hdoar 144 Line Reserrod B'or T.endez and neeoMer)
<br />}
<br />~~~
<br />\
<br />
<br />~
<br />°t
<br />w ua
<br />tai ._. ~~
<br />\v
<br />
|