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<br />83--003636
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<br />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 all compensation which may be paid for any property taken or for damages to property
<br />not taken, and Mortgagee shall apply. such compensation, at its option, either to a reduction of the indebtedneS!> securnd
<br />hereby or to repair ,and restore. the property so damaged.
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<br />8. Performance by Mort~e. Mortgagee may, but shall have no obligation, to do any act which the Mortg3jlor
<br />bas' agreed 'but fails to 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 by the Mortgagee for the above purposes, and any sUlDS.soexpended
<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 personal liability because of anything it may do or omit to do hereunder. .
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<br />9. D~!fault; Assignment of Rents. Time is of the essence hereof, and upon Mortgagor's default in any covenant
<br />orag:reement of this 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 by .this Mortgage.to be immediately'di.te,and'
<br />payable and may commenCe foreclosure 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, entel' u:pon and take pos.o;ession of the Property and collect the rents, issues and profits therefrom and apply them
<br />first to the cost of collection and operation of the Property and then upon the indebtedness sel.1.Ired 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.
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<br />10. bansfer of Property. If all or any part of the Property is sold or transferred without the expres.~ 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.
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<br />11. Future Advances. Upon request of Mortgagor, Mortgagee may make additional and future advances to
<br />MOl'tgagor. SUlch advances, with interest thereon, shall be secured by this Mortgage when evidenced by promissory notes
<br />stating that S1lidl notes are secured hereby. At no time shall the principal amount of the indebtedness secured by"this
<br />MOl'tgage. not induding sums advanced to protect the security of this Mortgage, exceed the original Note.
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<br />12. Miseellaneous Provisions.
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<br />(aJI Any forebearance in exercising any right or remedy shall not be a waiver thereof.
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<br />(b]1 Alllremedies provided herein are distinct lInd cumulative to any other right afforded by law or equity,
<br />and may be exercised concurrently, independently or successively.
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<br />(ell The covenants and agreements contained herein shall bind, and the rights inure to. the respective
<br />SUCC:f$SOrs and assigns of the Mortgagor and the Mortgagee.
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<br />(d:, All (:ovenant..~ and agreements of the Mortgagor are joint and several.
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<br />(ell 'I'be headings of the paragraphs of this Mortgage are for convenience only and shall not be used to inter.
<br />pret or define lhe provisions hli,reof.
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<br />13. Ile~eue. Upon payment of all sums secured by this Mortgage, Mortgagee shall discharge this Mortgage and
<br />shall execute IIncl dell1'er a saudaeto,y release therefor.
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<br />IN WIITNESS WHEREOf', Mortgagor has "xecuted this Mortgage on the ,.,."Illl day ~f
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<br />,19'13-.
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<br />
<br />Borrower
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<br />Stalte of Nebliasb,
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<br />ss:
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<br />On t.ll~i ---2J:.lL....__ day of _____" J u 1 y
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<br />. l~, before me, the undersigned, a Notary Public
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<br />duly oommissi!OIIled and qualified for said county, personally CJlme
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<br />Steven L. Husen
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<br />, to me known to be the
<br />identical pers<ln(s) wbose name(s) are subscribed to the foregoing instrument and acknowledged the execution thereof
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<br />to be
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<br />his
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<br />_ voluntary act and deed.
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<br />Wiw\SS my hand and notarial seal at
<br />date aforesaid.
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<br />Grand Island. NE
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<br />in said county, the
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<br />My Commission expires:
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<br />Public
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<br />(Spac.. Below !'hili Line R,"""""ed ~'or Lender and Recorder) --_____
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