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<br />83- 004510
<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 indebtedness secured'
<br />hereby or to repair and restore the property so damaged.
<br />
<br />8. Performance.byMortgagee. Mortgagee may, but shall have no obligation, to do any act which the Mortg~or
<br />has agreed but faUsto do, and Mortgagee may alsodo 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 th~ above purp!JS4!s,and anY sums so expended
<br />by: the Mortgagee shall be added to the indebtedness secured hereby and llecome subject to the lien hereof. Mortgagee
<br />shallilotincurany personal liability because of anything it may do or omit to do hereunder.
<br />
<br />9: Default; Assignlllent or Rents; Time is of the essence hereof, and upon Mortgagor's default in anycovel18llt
<br />or agreement of this Mortgage, including covenants to pay when due the sums secured by this Mortgage, the MortgageeshaJl
<br />be entitled, at its sole' option and without notice, to declare all sums secured by this Mortgage to be immediately due and
<br />payable and may commence foreclosure oCthis 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, enter upon and take possession of the Property and collect the rents, issues and profits therefrom and apply them
<br />filsttothe cost of collection and operation of the Property and then upon the indebtedness secured 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.
<br />
<br />10. Transfer 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 beimmediateiy due
<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 cumulative to any other right afforded by law or equity,
<br />and may be exercised concurrently, independently or successively.
<br />
<br />(c) The covenants and agreements contained herein shall bind, and the rights inure to, the respective
<br />successors 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 satisfaetOl'Y release therefor.
<br />
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on thtil-2.th day o! AlIElIS t
<br />
<br />,1983-.
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<br />BoU"Ower'
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<br />Borrower
<br />
<br />State of Nebraska,
<br />
<br />Hall
<br />
<br />County ss:
<br />
<br />On this 19th day of Augus t , 19~, before me, the undersigned, a Notary Public
<br />
<br />duly commissioned and qualified for said county, personally came Dale Schuppan of sippan 's
<br />
<br />Sales and Service, Inc. ,tomeknowntohethe
<br />identical person(s) whose name(s) are subscribed to the foregoing instrument and acknowledged the execution thereof
<br />
<br />his
<br />
<br />to be
<br />
<br />voluntary act and deed.
<br />
<br />Witncssmy bandl\lld notarlal seal at Grand Island, Nebraska
<br />date aforesaid;
<br />
<br />in said county, the
<br />
<br />My Commission expires:
<br />
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<br />CIlIa e..........
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<br /><h~ Ai' !:J (I
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<br />1 . f'
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<br />No hUe
<br />
<br />(SP~ Below This Line Reserved For Lender and Recorder)
<br />
<br />W1IC 10llll OlQ.aoJ Z/80
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