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<br />7. Condemnation. In the event the Property, or any part thereof, shall be laken by eminent domain, the Mortgagee
<br />is empowered tel collect and receive all compensation which may be paid for any property taken or for damages tel property
<br />not'taI"in, and.Mortgageeshall 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 Mortglll!or
<br />has agreed hut falls to do, end Mortgagee mayaiso do any act it deems l1ece5Sll1'y to i>rolect the lien hereof. lIfo.rtgijlor
<br />agll!I!S. to repay, upon demand, any sums so expended by the Mortgagee for the above pulposes, and anysutnSso expended
<br />by the Mortgagee shall be. adde.d to the indebtedness secured hereby and become SUbject to. the lien .hereof.. Mortpgee
<br />shall not incur any personal liability because of anything it may do or omit to do hereunder. .. .
<br />
<br />9. Default; AssigDment of Rents. Time. is of . the essence hereof, and upon Mortgagor's default ill anyco~1ul!it
<br />oragreement of this Mortgage, including cove'18nts to pay when due the sums secured by this Mortgage; the Mortgagee ShalI
<br />be entitled, at its sole option and without notice, to declare all sums secured by this Mortgage:to be immedilifely-dlle:.nd '
<br />payable and may commence foreclosure of this Mortgage by judicial proceedings; and.pr<>'Ildedfurther;tbatllpon such.
<br />default the Mortgagee, or a receiver appointed by a court, may at its optlonand withoutregard.totbe adequacy:ofth"
<br />security, enlerupon and take possession of the Property and collect the rents, issues and profits' therefrom and apply:t!;ulm
<br />first to the cost of collection and operation of the Property and then upon .the indebtednesssecliredby thlsMortg8gee;
<br />said repts, issues and profits being assigned to the Mortgagee as further security for the payment of the indebtedn....
<br />secured hereby.
<br />
<br />10. Transfer of Property. If all or any part of the Property is sold or transferred without the expresswiitten con.
<br />sent of the Mortgagee, Mortgagee may at its sole option, declare all sums .securedby this Mortgage to be immediately.due
<br />and payable.
<br />
<br />11. Future Advances. Upon request of Mortgagor, Mortgagee may make additionill and future advancesto
<br />Mortgagor. Such advances, with interest thereon, shall be secured by this Mortgage when evidenced byprorilissOry notes
<br />stating that said notes are secured hereby. At no time shall the principal amonnt of the indebtedneSs-secured by this
<br />Mortgage, not including sums advanced tel protect the security of this Mortgage, exceed the original Note.
<br />
<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 cumulati.eto any other right afforded by law or equity,
<br />and may be exercised concurrently, independently or successively.
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<br />(c) The covenants and agreements contained berein shall bind, and the rights inure to, the respective
<br />successors and assigns of the Mortgagor and the Mortgagee.
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<br />(d) All covenants and agreements of the Mortgagor are joint and se.eral.
<br />
<br />(e) The headings of the p;uagrapbs of this Mortgage are for convenience only and shall not be used tel inter.
<br />pret or d{>fin~ 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 satisfactory release therefor.
<br />
<br />State of Nebraska, HAll
<br />
<br />
<br />,19JiL.
<br />
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mort
<br />
<br />Bouower-
<br />
<br />Borrower
<br />
<br />On this l.d.th day of Nr\U~mhp,r t 19..aL, before me, the undersigned, a Notary Public
<br />
<br />duly commissioned and qualified for said connty, personally came Harold T. Lonq and Shirley R.
<br />
<br />Long , to me known to be the
<br />identical persou(s) whose name(s) are subscribed to the foregoing instrumellt and acknowledged the execution thereof
<br />
<br />their .oluntary act and deed.
<br />
<br />Witness my hand and lIOlarlal seal at Grand Island, NE
<br />date aforesaid.
<br />
<br />~ My Conlmisslon 1'6 .
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<br />Nolary Public
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