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<br />84 -- 003744
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<br />3. The mortgagor covenants and agrees that if he .hall fail to pay .aid indebtedne.. or any part thereof when
<br />due, or ,hall fail to perform any covenant or agreement of this instrument or the prOmiJJ80ry note secured hereby, th'e
<br />entire indebtedne.. hereby secured shall immediately become due, payable, and collectible without notice, at the
<br />option of the mortgagee or 8lsigns, regardless of maturity, and the mortgagee or hilJ a88i~n8- may ,before,or after-entry
<br />sell said property without apprai.ement (the mortga~or havin~ waived and assi~ned to the mortlt"gee alIrighla"of
<br />appraisement) :
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<br />(I) a~ judicial sale pursuant 10 the provisions of 28 U,S,C, 2001 ,a,; or
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<br />(II) at the option of the mortgagee, either by auction or by solicitation of sealed bid.., for the higheltand
<br />best bid complying with the terms of sale and manner of payment .pecified in the publiahed noticieolsale; fin!
<br />giving four weeks' notice of the time, terms, and place of such Kale, h~' advertitiement not Jeftl!i -tha.n-_()iu:e,
<br />during each of ..id four week. in a newapaper published or distributed in the county in whichtaidproperty
<br />ia .ituated, all other notice being hereby waived by the mortgagor (and, said mortgagee, or any penon on
<br />behalf of said mortgagee, may bid with the unpaid indebtedne.. evidenced by said note). Said s..leshallbe,
<br />held at or on the property to be sold or at the Federal, county, or city courthouse for thecountyinwhi~h;,the
<br />property i. located. Tbe mortgagee is hereby authorized ~o execute for ant! on behalf olthe mort~agorandto
<br />deliver to the purchaeer at lIuch sale a sufficient conveyance of said property, which 'conveyance'8~all4:0~t.iD
<br />recitals.. to the happening of tbe default upon which the execution of the power of'sale herein granted
<br />depends; and the .aid mortgagor hereby conatitutes and appoinla the mortgagee or any agent or atto~eyofthe
<br />mortgagee, the agent and attorney in fact of .aid mortgagor to make .uch recitala and to. execute said'
<br />conveyance and hereby covenantJo and agrees that the recitals 80 made shall be effectual to bar all equity or
<br />right of redemption, homestead, dower, and all other exemption8 of the morlp:aJ[or, an of which are 'J,ereby
<br />expre8sly waived and conveyed to the mortgagee; or
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<br />(U1) take any other appropriate action pursuant to !Stale or Federal t;tatute either in ~lale or Fe.leral
<br />court Of othf'!fWise for the disposition of the property.
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<br />In the event of a sale.. hereinbefore provided. the mortgagor or any peroom in posse..ion under the mort.
<br />gagor shall then become and be tenants holding over and shall fortbwith deliver po..ession to the purchaser at
<br />such sale or be summarily dispossessed, in accordance with the provisions of law applicable to tenants_ holdinlf over.
<br />The power and agency hereby granted are coupled with an interest and are irrevocable by death or otherwi~t and
<br />are granted as cumulative to the remedies for collection of saill indebtedneMl provided by Jaw.
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<br />4, The proceeds of any .ale of said property in accordance with the preceding paragraphs shall be applied fint
<br />to pay the cosla and expenac. of .aid sale, the expen... incurred by the mortgagee for the purpose of protecting or main.
<br />taining said property, and reasonable attorneys' fees; 5econdly, to pay the iurtebterlnes8 8ecured herehy; and thirdly"
<br />to pay any surplus or ,ex~c~~ to,_t...~~~pe~9.r,l.or persons legally entitled thereto.
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<br />5, In the event ,~,aid:i;'~perty,iO~Ltat a judicial foreclosure sale or punuant to the power of .ale hereinabove
<br />granted, and the proceeds are not .ufficient to pay the total indehtednes. .ecured by ~hi. in.trument and evidenced by
<br />.aid promi..ory note, the mortgagee will be entitled to a deficiency judgment for the amount of the defkiency without
<br />reganI to IJppr....ement.
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<br />6. In the event the mortgagor fails to p.a)' any Federal, atate, or local tax aelSessmellt., inconle tax or other ta"-
<br />lien, charge, re~ or other expellBe charged against the property the mortgagee is hereb)' authorized at his option .to
<br />pay the same, Any sums 80 paid by the mortgagee shall be added to and become a part of the ('rincipal amount of the
<br />indebtedo... evidenced by said note, .ubject to the .ame terms and condition.. If the mortgagor .hall pay and
<br />discharge the indebtedne.. evidenced by .aid promi.80ry note. and .hall pay such sums and shall discharge all
<br />taxes and liene and the C08U., fee&., and expenees of making., enforcing, and executing this mortgage, then this mortgage
<br />.hall be eanceled and .urrendered,
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<br />7. The covenan18 herein contained 8hall bind and the benefits and udvalltaget!l t!lhaU inure lo the r't'tll)t"ctive :S\H':~
<br />ceaaon and aaaigna of the parti.. hereto. Whenever used. the singular number .hall include the plural, the plural the
<br />.ingular, and the use of any gender shall include all genden,
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<br />8. No waiver of any covenant herein or of the obligation tlecureu hereby ~hall al an)" lime thert'after be held
<br />to be a waiver of the terms hereof or of the note secured hereby.
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<br />9. A judicial decree., order., or judgment holding any provision or portion of lhill inijlrUll1~nt invalid 01" UUcu~
<br />forceahle ahel1 not in any way impair Qr preclude the enforcement of the remaining provi~ion8 or portions of tl1i8
<br />iQetrumenL
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<br />10. Any written notice to be,iaaued to the mortgagor pursuant to the proviaicna of this instrument shall be ad.
<br />d..-dtoth..mortaallorat 1300 &mth Wcust, Suite D" Grand Island, Nebraska 68801
<br />and any written notice to he illued to the mortgal;ee .h.Jl
<br />be add..-.d to the mortgagee at 304 West 3rd, Grand Island, Nebraska 68<501
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<br />Gcf'O 92.o1.i..t"-
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<br />SSA FOAM 928 (2R731
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