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<br />7. Cll.ndemnation. In the event the Property> or any part thereof, shall be taken by eminent domain,the Mortgagee
<br />isempowered l;ocollect 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 indebtedness secured
<br />l:!e~eby or to rElpair and. restore the property so damaged.
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<br />8. Perf~ce by Mortgagee; Mortgagee may, but shall have no obligation, to do any act which the Mortglil!.or
<br />has agreed b . do, and Mortgagee may also do any act it deems necessary to protect the lien hereof. Mortgagor
<br />agrees to rep n dema~d, any sums so expended by the Mortgagee for the above. purposes, and any sums so expended
<br />by' the Mo . shaH. be' added to. the indebtedness secured hereby and become subject to the lien hereof. Mortgagee
<br />ShallnotipersonaIliability because of anything it may do or' omit to do hereunder.
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<br />9'. Default; Assignment ~f Rents. Time is of the .essence hereof, and upon Mortgagor's default in any covenant
<br />or. agreement ofthisMortgage; including covenants to pay when due the sums secured by this Mortgage, the MoTtgagee,sball'.
<br />be entitled,' at its sOle option and without notice, to declare all sums secured by this Mortgage .tobeimmediately due and..
<br />. payable and..mayeommence 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 />securtty, enter upon and. take possession of the Property and collect the rents, issues and .profits therefrom and apply;tbem "
<br />first to the cost of coliection and operation of the Propilrty and then. upOn the indebtedness secured by this Mortgagee;
<br />said. rents,. issues and profits b,eing assigned to. the Mortgagee as further security for the payment o~ the indebtedness
<br />secured hereb'fT.
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<br />10. Transfer of Property. !fall or any part of the Property is sold ottransferred without the e:xipress written con.
<br />sent of the Morl:gagee) Mortgagee may at its sole option, declare all sum.<; ,secured by this Mortgage to be immediately due
<br />and payable.
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<br />11. Futllire Advances. Upon request of Mortgagor, Mortgagee may make additional and future advances to
<br />Mortgagor. SUl:b 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 sceured by this
<br />Molttgage, not lim:luding sums advanced to protect the seeurity of this Mortgage, exceed the original Note.
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<br />12. Miscellaneous Provisions.
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<br />(a) Any forebearanee in exercising any right or remedy shall not be a waiver thereof.
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<br />(b]1 All remedies provided herein are distinct and cumulative to any other right afforded by law or equity,
<br />and may be exercised concurrently, independently or successively.
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<br />lc) The covenants and agreements contained herein shall bind, and the rights inure to, the respective
<br />successors and assign.<; of the Mortgagor and the Mortgagee.
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<br />Cd11 All Ciovenants and agreements of the Mortgagor are joint and several.
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<br />(el The headings of the paragraphs of this Mortgage are for convenience only and shall not be used to inter-
<br />pret or deCme the provisions hereof.
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<br />13. Rflleue. Upon payment of all sums secul'l~d by this Mortgage, Mortgagee shall discharge this Mortgage and
<br />shaILI execute and deliver a satisfactory release therefor.
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<br />IN WlITNESS WHEREOF. Mortgagor has executed this Mortgage on the _..L:L day of
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<br />.19.a:L.
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<br />,>< . "'':lo
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<br />
<br />(Dean 1':. \1olte)
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<br />B04-fOWU.
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<br />Borrowt\i;r
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<br />State of Nebrll$u, Ha 11
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<br />County ss:
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<br />On thill, 11th day of July , 19Ji.L.., before me. th~.~~igned, a Notary Public
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<br />duly commissjioned and qualified for said county, personally cam~":'". Dean~. Wolf J-'~nd Judith A.
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<br />Wolfe , to me known to be the
<br />identical pel'S(ln{s) whose name(sl are subscribed to the foregoing instrument and acknowledged the execution thereof
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<br />to be ~~__ voluntary act and deed.
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<br />Witnt'SSmyhand 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 exPiTeS.J;:
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<br />MMGEMUmT
<br />., lHm. &p. Oct 10, 1986
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<br />Notary Publie
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<br />(Spac~ Below 'flU< Li.ne.a....".ve;:lFox Le"d~r and a""order)
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