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<br />I
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<br />7. Condemnation. In the eventthe Property, or any part thereof, shall be taken by eminent domain, the Mortgagee
<br />is empowered to collect and receive all cOlllpensation 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 indebiedness l;t!CUred
<br />bereby or to repair and restore the property so damaged.
<br />
<br />S; Perio.manceby Mortgagee. Mortgllgee may, but shill] have no obligation, to do any act whicb the Mortgagor
<br />bas agreed but. fails to do, and Mortgagee may also do any act it deems. necessary to protect the lien hereof. Mortgagor
<br />a:gte..torepay, upon deman~, any sums 'soexpendedby the Mortgagee for the above ptirposcs, and any sums so expended
<br />by'the Mottgag... shall be . added to tMindebtednesssecured hereby and become SUbject to the lien. hereof. Mortgagee
<br />shall not in~rany personal liability oocause of anything it may do or omiUo dobereunder.
<br />
<br />9. Default; Assigllmentof Rentsc . Tiine is of the essence bereof,and upon Mortgagor's defaultil1any covel1ant
<br />or agreement oftbisMortgage, including covenantsto pay wben due .th" sums secured:by tbisMortgag",tbeMortgagee sfilill
<br />beentltled,at its sole option and witbout notiee, to declare all sums secured by this Mortgage ,to beimfuediately due and:
<br />payable and may commence foreclosure of,this Mortgage by judicial proceedings; and, providedfurtber; that'uponsucli
<br />default tbe Mortgagee,or a receiver appointed byacourt,may at its opti(mand.withoutregard to'tite:adequacyof tbe .,..
<br />security,enter'upon'and take possession of the PropertyandcoU"ct the rents, issues and profitsth"re~Dl.and"Pl1ly;t~em.
<br />fiist to the cOllt ofcoUection and operation of the Property and then upon the' indebtedness SeCure~bY~:Mortgigee;..
<br />!Iliid rents, issues and profits being. assigned to the Mortgagee ..further security. for the . payment. o.f, ibeiilti~bte<ln....,.
<br />secured'bereby; . . ..
<br />
<br />10. Tiansfer of Property. If all or any part onheProperty is sold or tia.DsferredWithout thi'exPiessWri~ten'co!l<
<br />sent of tbeMortgagee, Mortgagee may at its sole option, declare a1lsums.secured bytbisMortgageto'be'imm!!dilltely'due"
<br />and payable. .. .
<br />
<br />11.' Future Advances. Upon request. of Mortgagor, Mortgagee may mak" additional' and;'Cut1lia:advllllCes:,1;9';.,
<br />Mortgagor. Such advances, with interest thereon, shall be securodby this Mortgage. wbenevideneed by promissolYllotes.,'
<br />stating that said notes are secured bereby. At no time sball tbe prindpal am'",nt of the .indebtedneSs.ecuredbytbis',
<br />Mortgage, not including sums advanced to protect the security of this Mortgage, exceed tbeoriginal Note.' .
<br />
<br />12: MisceUaneous Provisions.
<br />
<br />
<br />(a) Any forebearance in exercising any rigbt or remedy shall not be a waiver thereof.
<br />
<br />(b) All remedies provided berein are distinct and cumulative to any other right afforded by law or equity,
<br />and may be exercised ""ncurrently, independently or successively.
<br />
<br />(c) The covenants and agreements contained herein shall bind, and tbe rigbts inure to, the resp"ctive.
<br />successors and assigns of the Mortgagor and the Mortgagee.
<br />
<br />(d) AU covenants and agreements of tbe Mortgagor are joint and several.
<br />
<br />(e) The headings of the paragraphs of this Mortgage are forconvenienee only and sball not be usedto inter.
<br />pret or define tbe provisions benof.
<br />
<br />
<br />13. Release. Upon payment of all sums secured by this Mortgage, Mortgagee sball discharge this. Mortgage and
<br />shall execute. a,nddeliver a satisfactory release therefor.
<br />
<br />IN WITNESS WHEREOF, Mortgagor bas executed this Mortgage on tbe 2is liiay of Novembe.r ,19ll.
<br />
<br />
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<br />
<br />,--.,....(c, fCL.l.f,,,-zcc l.......-'-' ,of r..~ fi-/,,'Lv~-'''-Zdj
<br />(Catherine A. Johnson)
<br />
<br />Boi.rower:-
<br />
<br />Borrower
<br />
<br />State of Nebraska,
<br />
<br />Hall
<br />
<br />County ss:
<br />
<br />On this 21st day of November, 198.3-, before me, the undersigned, a Notary Public
<br />
<br />duly commissioned and qualified for said county, personally came Robert J. and Ca thE'ri ne A.
<br />Johnson, Husband and Wi fe , to me known to be the
<br />identical person(s) whose name(s) are subscribed to the foregoing instrument and acknowledged tbe execution thereof
<br />
<br />to be the i r voluntary act and deed.
<br />Grand Island, Nebraska
<br />
<br />WitnCSf"iy hand and notarial seal. at
<br />date aforesaid.
<br />
<br />in said county, the
<br />
<br />'~ My Commission expires:
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<br />(S~aee Below This Line ;Reserved For Lender and Recorder)
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