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<br />83-0013\J5 <br /> <br />4. In the event the Property, or any part thereof, shall be taken by eminent <br />domain, the Mortgagee is empowered to collect and receive all compensation which' <br />may be paid for any property taken or for damages to property not taken, and Mortgagee <br />shall apply such compensation, at its option, either to a reduction of the indebtedness <br />secured hereby or to repair and restore the property so damaged. <br /> <br />5. . Mortgagee may, but shall have no obligation, to do any act which the Mortgagor <br />has agreed but fails to do, and Mortgagee may also do any act it deems necessary to <br />protect the lien hereof. Mortgagor agrees to repay, upon demand, any sums so expended <br />by the Mortgagee for the above purposes, and any sums so expended by the Mortgagee <br />shall be added to the indebtedness secured hereby and become subject to the lien <br />hereof. Mortgagee shall not incur any personal liability because of anything it <br />may do or omit to do hereunder. <br /> <br />. 6. Time is 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 <br />by this Mortgage, the Mortgagee shall be entitled, at its sole option and without <br />notice; to declare all sums secured by this Mortgage to be inmediately due and <br />payable and may conmence foreclosure of this Mortgage by judicial proceedings; <br />and, provided further, that upon such default the Mortgagee, or a receiver <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 <br />issues and profits therefrom and apply them first to the cost of collection and <br />operation of the Property and then upon the indebtedness secured by this Mortgage; <br />said rents, issues and profits being assigned to the Mortgagee as further security <br />for the payment of the indebtedness secured hereby. <br /> <br />7. If all or any part of the property is sold or transferred without the express <br />written consent of the Mortgagee, Mortgagor may at its sole option, declare all sums <br />secured by this Mortgage to be inmediately due and payable. <br /> <br />8. Any forebearance in exercising any right or remedy shall not be a waiver thereof. <br /> <br />9. All remedies provided herein are distinct and cumulative to any other right <br />afforded by law or equity, and may be exercised concurrently, independently or <br />successively. <br /> <br />10. The covenants and agreements contained herein shall bind, and all rights <br />inure to, the respective successors and assigns of the Mortgagor and the Mortgagee. <br /> <br />11. All covenants and agreements of the Mortgagor and the Mortgagee are joint <br />and several. <br /> <br />12. Upon payment of all sums secured by this Mortgage, Mortgagee shall discharge <br />this Mortgage and shall execute and deliver a satisfactory release therefor. <br /> <br />of <br /> <br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on the <br />March , 19~. <br /> <br />8th <br /> <br />day <br /> <br />/~~p~ <br />~~u a<~ <br /> <br />Elaine A. Peters <br /> <br />STATE OF NEBRASKA, <br /> <br />On this .Jl.tL. day of March <br /> <br />County ss: <br />, 19~,before me, the undersigned, a Notary <br /> <br />Hall <br /> <br />Public duly commissioned anddqualified for said cRUAtv, personally came AUQust H. Peters <br />and Elaine A. Peters, husban and wlte, eacn 10 ~ elr' <br />own right and spouse of the other , to me known to be the identical <br /> <br />persons whose names are subscribed to the foregoing instrument and acknowledged the <br /> <br />execution thereof to be their voluntary act and dee~' J. <br /> <br />~-/1(u/ / .tJ~C/krc ~x:-/ <br /> <br />~~.~ ! Notary PUblC <br /> <br />.1...'......... <br />. <br />f <br />( <br />J <br /> <br />l <br />