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<br />I
<br />
<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 wbichmay be paid for any property taken or for damages to property
<br />not taken, aild 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 by Mortgagee. Mortgagee may, but shall have no obligation, to do any act which the Mortg&J!or'
<br />has agreed but fails to dO,and Mortgagee may also do any act it deems necessaty to protect the lien hereof. Mortgagor
<br />agrees torepay, upon demand, any sums so expended by the Mortgagee for the above purposes, and any sums so expended
<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.
<br />
<br />9. Default; Assignment of Rents. Time is of the essence hereof, and upon Mortgagor's default in an.y covenant
<br />or agreement ofthi. 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 due 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, enter upon and take possession of the Property and collect the rents, issues and profits therefroIDcand apply them
<br />first to the 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 tbe 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 be immediately 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 pro.ided herein are distinct and cumulative to any other right afforded by law or equity,
<br />and may be exercised :oncurrently. 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 />la. Release. Upon paymenl of all sums secured by lhis Mortgage, Mortgagee shall discharge this Mortgage and
<br />shall execute and deliver a satisfactory release therefor.
<br />
<br />".""", """'0'. MOri_"'''''~.L~ 0ct0I>=
<br />
<br />,19~.
<br />
<br />Boi.roweJ"
<br />
<br />Slate of Nebraska,
<br />
<br />Hall
<br />
<br />..)
<br />~en~itY~:/)~eii' J~a.[).{)dU
<br />
<br />
<br />County ss:
<br />
<br />Borrower
<br />
<br />On this
<br />
<br />3rd
<br />
<br />day of
<br />
<br />October
<br />
<br />, 19~, before me, the undersigned, a Notary Public
<br />Thomas J. Russell and Glenda K. Russell,
<br />
<br />duly commissioned and qualified for said county, personally came
<br />Husband and Wife
<br />
<br />, to me known to be the
<br />identical person(s) whose name(s) are subscribed to the foregoing instrument and acknowledged the execution thereof
<br />
<br />his and her voluntary act and deed.
<br />
<br />to be
<br />
<br />Witness my hand and notarial seal at
<br />date aforesaid.
<br />
<br />~ My Commission expires:
<br />
<br />'-<i. c:::::>
<br />~-
<br />
<br />.........~-- SlIlI ot ".....b.
<br />1oWl\' C. GERDES
<br />II\ICloIIa Ei"Nov. 26,1986
<br />
<br />G=q ,",ond, Nelmoska Ji ;..., ~O", ""
<br />
<br />Yl7tLd~ (1. /"/L-tIJ:2,/
<br />
<br />Notary Public
<br />
<br />Reservl!ld For Lender and R~order)
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