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<br />I
<br />
<br />7. CondemnatiOn, In the event the Property ,or any part thereof, sball be taken by eminent domain, the Mortgagee
<br />is empowered t<lcollect and receive all compensation whicb may be paid for any property taken or for damages to property
<br />not taken, and Mortgagee sball apply such compensation, at Its option, either to a reduction of tbe indebtedness secured
<br />berebyoroto repalr and restore the property so damaged.
<br />
<br />8, Perfonnanee by Mortgagee, Mortgagee may, but shall bave no obligation, to do any act wbich theo MllltgaIfor
<br />!las, agreed but falls 0 to do, and 0 Mortgagee may also doo any act it deems necessary to protect the lien hereof. Mortgagor
<br />agrees tompay;upOD deliland, any sums so expended byo 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 incur any pelSOl1alliability because of anything it may dn or omit to do hereunder.
<br />
<br />9. Default; Assignment of 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 wben 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 by this MOrtgageoto he immediately due and
<br />payable and may commence foreclosure of this Mortgage by judicial pr~gs; 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 take possession of the Property and collect the rents, issues and profits therefrom and appiythem
<br />first to the cost of collection and operation of the Property and then upon the indebtedness secured hy 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 />
<br />10, Trlnsfer 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 sums ,secured by this Mortgage to he immediately due 0
<br />and payable,
<br />
<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 />
<br />12. Miscellaneous Provisions.
<br />
<br />(a) Any forebearance in exercising any right or remedy shall not be a waiver thereof;
<br />
<br />(b) All remedies provided herein are distinct and cumnlative to any other right afforded by law or equity,
<br />and may be exercised eoncurrently, independently or successively,
<br />
<br />(c) The covenants and agreements contained herein shall bind, and the rights inure to, the respective
<br />SUcceSSOlS and assigns of the Mortgagor and the Mortgagee,
<br />
<br />(d) All covenants and agreements of the Mortgagor are joint and several.
<br />
<br />(e) The headings of the paragraphs of this Mortgage are for convenience only and shall not be used to inter-
<br />pret or define the provisions hereof.
<br />
<br />13. Release. Upon payment of all sums secured by this Mortgage, Mortgagee shall discharge this Mortgage and
<br />shall execute and deliver a satisfactol'Y release therefor,
<br />
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on the 28thdayof
<br />
<br />,ilft~~
<br />- YlJra'ltJ: ~o\;P'
<br />
<br />March , 19JIL,
<br />
<br />Boaower
<br />
<br />/,f)
<br />i //I//tL~
<br />
<br />lIofto.er
<br />
<br />State of Nebraska,
<br />
<br />Hall
<br />
<br />County ss:
<br />
<br />duly commissioned and qualified for said county, personally came
<br />
<br />Husband and Wife . to me known to be the
<br />identical pemm(s) whose name(s) are subscribed to the foregoing instrument and acknowledged the execution thereof
<br />
<br />to be his and her voluntary act and deed,
<br />
<br />19 83 , before me. the undersigned, a Notary Public
<br />Kirk G. Arnold and Manila D. Arnold,
<br />
<br />On this
<br />
<br />28th
<br />
<br />day of
<br />
<br />March
<br />
<br />
<br />Grand Island. Nebraska
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<br />I in said county, the
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<br />NotarY Public
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