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<br />r <br /> <br />....., -- <br />0"-'-U05938 <br /> <br />necessary to protect the lien hereof. Mortgagor agrees to repiiY, <br />upon demand, any sums so expended by the Mortgagee for the above <br />purposes, and any sums SO expended. by Mortgagee shall become' <br />subject to the lien hereof. Mortgagee shall not incuraliy <br />personal liability because of anything it may do or omitt6do <br />hereunder. <br /> <br />8. Default; Assignment of Rents. Time is of the <br />essence hereof, and upon Mortgagor ' s defaul t in. any. covenant or" <br />agreement of this Mortgage, the Mortgagee shall beentitled,at <br />its sole option and without notice, to declare all sums 'secured <br />by this Mortgage to be immediately due and payable and may <br />commence foreclosure of this Mortgage by judicial proceedings; <br />and, provided further, that upon such default the Mortgagee, or a <br />receiver appointed by a court, may at its option and,without <br />regard to the adequacy of the security, enter upon and take <br />possession of the Property and collect the rents, issues and <br />profits therefrom and apply them first to the cost of collection <br />and operation of the Property and then upon the indebtedness <br />secured by this Mortgage; said rents, issues and profits being <br />hereby assigned to the Mortgagee as further security for the <br />payment of the indebtedness secured hereby. <br /> <br />9. Personal As <br />additional secur~ty for the payment of the Note s) all fixtures, <br />equipment, and other personal property used in connection with <br />the real estate or improvements located thereon, including, <br />without limitation, center pivot irrigation equipment, pipe, <br />power units, alternators, wells, gearheads, and pumps, and not <br />otherwise declared or deemed to be a part of the real estate <br />secured hereby, shall be SUbject to a security interest in favor <br />of the Mortgagee under the Nebraska Uniform Conunercial Code. <br />This instrument shall be construed as a Security Agreement under <br />said Code, and the Mortgagee shall have all the rights and <br />remedies of a secured party under said Code in addition to the <br />rights and remedies created under and accorded the Mortgagee <br />pursuant to this Mortgage. <br /> <br />10. Transfer of Property. If all or any part of the <br />Property or any ~nterest of Mortgagor therein is sold, <br />transferred or further encumbered without the express written <br />consent of the Mortgagee, Mortgagee may, at its sole option, <br />declare all sums secured by this Mortgage to be inunediately due <br />and payable. <br /> <br />11. Miscellaneous Provisions. <br /> <br />a. Any forbearance in exercising any right or remedy <br />shall not be a waiver thereof. <br /> <br />b. All remedies provided herein are distinct and <br />cumulative to any other right afforded by law or equity, and <br />may be exercised concurrently, independently or <br />successively. <br /> <br />c. The covenants and agreements contained h~rein shall <br />bind, and the right inure to, the respective successors and <br />assigns of the Mortgagor and the Mortgagee. <br /> <br />d. All covenants and agreements of the Mortgagor are <br />joint and several. <br /> <br />e. The headings of the paragraphs of this Mortgage are <br />for convenience only and shall not be used to interpret or <br />define the provisions hereof. <br /> <br />IN WITNESS WHERll.'OF, Mortgagor has <br />Mortgl\qe on the 14e:tb...- day of ~ <br /> <br />executed t,his <br />, 19~. <br /> <br />WTIlQ" ROSE EQUIPMENT ,\INC. <br /> <br />By: (kn/) ~1<,Cj~_, <br />~~' <br /> <br />-3- <br /> <br />