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<br />83--001581
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<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.
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<br />5. Mortqageemay, but shall have no obligation, to do any act which the Mortgagor
<br />bas 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.
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<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 immediately due and
<br />payable and may commence 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.
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<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 immediately due and payable.
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<br />8. Any forebearance in exercising any right or remedy shall not be a waiver thereof,
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<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.
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<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.
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<br />11. All covenants and agreements of the Mortgagor and the Mortgagee are joint
<br />and several.
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<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,
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<br />~N WITNESS WHEREOF, Mortgagor has executed this Mortgage on the
<br />of April , 19~.
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<br />(/~;nes R. or".
<br />C~w..R- III
<br />Louise M, Ford
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<br />--.-liL day
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<br />(~-Jo-tL,
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<br />STATE OF NEBRASKA,
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<br />Hall
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<br />On this -1ll. day of Apri 1
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<br />County ss:
<br />, 19~.before me, the undersigned, a Notary
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<br />Public duly commissioned and qualified for said county, personally came James R. Ford
<br />and Louise M. Ford, husband and wife , to me known to be the identical
<br />persons whose names are subscribed to the foregoing instrument and acknowledged the
<br />execution thereof to be their voluntary act and deed.
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