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<br />7. Condemnalion. 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 toa 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. MorlgaJ!or
<br />ba$ 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 sums so expended
<br />by, the Mo....gagee 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 iriany covenant
<br />or agreement 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 !lotice, 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 furtber, that upon such
<br />default the Mortgagee, or a receiver appointed by a court, may at its option and without regard to theadequacyofthe
<br />security, enter upon and take possession 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 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. [f all or any part of the Property is sold or transferred without the express writtencon- '
<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 PromiSsorynoles
<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 secnrity of this Mortgage, exceed the original Note.
<br />
<br />12. MisceHaneous 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 paragrapbs of this Mortgage are for convenience only and shall not be nsed 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 satisfactol'Y release therefor.
<br />
<br />IN WITNESS wHEREOF, Mortgagor has executed this Mortgage on the -4J:.b. day ofO co 1- () h p r
<br />BAASCH & SONS, INC.
<br />
<br />By: i1t.&?-- AJft4.
<br />'+r' [ '
<br />By: X)(I?AA C& /i>{Jl.I1XJ...L:., $ecretary
<br />Borrower
<br />
<br />,1983-.
<br />
<br />, President
<br />
<br />Bouower-
<br />
<br />State of Nebraska,
<br />
<br />Hall
<br />
<br />County ss:
<br />
<br />On this 4th day of October, 19JLL, before me, the undersigned, a Notary Public
<br />
<br />dulycommlssione!iand qualified for said county, personally came Eldon R. K I u the. President and
<br />
<br />Doris J. Kluthe, Secretary, of BAASCH & SONS, INC. ,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 />to be, his and her voluntary act and deed.
<br />
<br />Witn,ess my hand and notarial seal at Grand I s land, Nebraska in said county, the
<br />date aio~d_. /1
<br />P / / / If7 i
<br />2? f?f{j' ~,,--j L<k:' i!;k;~-,/
<br />
<br />
<br />Notary Public
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