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<br />$4 600483
<br />advancements as may he necessary, shall exist xegard-
<br />less of whether the Secured Indebtedness be then due or
<br />not.
<br />ARTICLE IV
<br />EVENTS OF DEFAULT-
<br />(1} It is understood and agreed that if .one, or
<br />more of the following events (herein referred to as an '°Eueiit
<br />of Default," and collectively as "Events of Default"}.should
<br />happen, to-wit:
<br />(A) Uninsured loss, theft, damage or destruction
<br />of or to the Mortgaged Property, or any part thereof;
<br />or
<br />(B) The occurrence of any Evert of Default speci-
<br />fied in the Note, the Loan Agreement, the Series A Bond
<br />or the Series B Bond;
<br />then, Mortgagee may declare the principal of, and all interest
<br />then accrued on, the Nate and any other liabilities hereunder;
<br />to be forthwith due and payable, whereupon the same shall.
<br />forthwith become due and payable without presentment, demand,
<br />protest or other notice of any kind, all of which Mortgagor
<br />herein and hereby expressly waive, anything contained in the
<br />Note to the contrary notwithstanding. Nothing contained in
<br />this Article IV shall be construed to limit or amend in any
<br />way the Events of Default enumerated in the Note, the Loan
<br />Agreement, the Series A Bond or the Series B Sond. Mortgagee
<br />may thereupon avail itself of any of its legal and equitable
<br />rights and remedies, either by *_he institution of a-.suit or
<br />suits, in equity, at law or in bankruptcy, in any court or
<br />courts of competent jurisdiction, whether for the specific
<br />performance of any covenant or agreement herein contained or
<br />in the aid of any execution of any powers herein granted, or
<br />for any foreclosure hereof or hereunder, or for any sale of
<br />the Mortgaged Property, or any part thereof, sa far as may
<br />be authorized by law, or for the enforcement o£ such other
<br />or additional appropriate legal or equitable remedies as
<br />Mortgagee may deem most effectual to protect and enforce the
<br />rights aforesaid.
<br />(2) It is further understood and agreed that if
<br />one or more of the Events of Default set forth above shall
<br />occur, then, and in every such event, Mortgagee, its succes-
<br />sors, representatives, heirs and assigns, shall have the right
<br />(but shall not be required) to take possession of all the
<br />Mortgaged Property, and thereafter maintain, operate and con-
<br />trol the Mortgaged Property.
<br />(3} In addition to all rights, privileges and op-
<br />tions specified above, it is mutually agreed that if one or
<br />more Events of Default shall occur, and if permitted by the
<br />laws of the State of Nebraska, Mortgagee, acting lay and.
<br />through akiy one or more designated agents or representatives.,
<br />shall have the right (but not the obligation) and is hereby
<br />authorized and empowered to sell the Mortgaged Property, or
<br />any part ar parts thereof, either as a whole or in parts, at
<br />pultlic or private sale, in whatever manner-and upon whatever
<br />terms Mrsrts~agee may specify; and to convey same to the pun-
<br />- ~aaex ar purchasers; provided, however, that Mortgagee may
<br />a~src~:ses.ths auttttarity thus granted only after first having
<br />complied fully:wiCh all applicable laws of the-State of
<br />Nebr~s~a, including, but pat by way of limitation., such laws
<br />as ~aertain to the foreclosure of mortgages or deeds of trust,
<br />thet giving of sietice of the time, plats and terms of sale or
<br />- 7.,
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