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<br />84- 005506
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<br />wear and tear, the Property shall not deteriorate. In no event shall the
<br />Mortgagor commit waste on or to the Property.
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<br />4. OPTIONAL ADVANCES. If the insurance required above is not
<br />promptly effected, or if the taxes or special assessments levied and assessed
<br />against the Property shall become delinquent, Mortgagee (whether electing to
<br />declare the whole mortgage due and collectible or not), may, but need not,
<br />effect such insurance, effect such repairs, pay such taxes and special
<br />assessments, and all such payments with interest thereon at the highest legal
<br />rate applicable to a natural person, or, if the Mortgagor is a corporation, 01'
<br />partnership or o1:,er entity at the default rate provided in the Note, from
<br />time of payment shall be a lien against the Property.
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<br />5. ACCELERATION AND RECEIVERSHIP. If default shall be made in
<br />the payment of the Note, or any part of the interest thereon, or any other
<br />advance or obligation which may be secured hereby, such as taxes, special
<br />assessments, insurance and repairs, or if Mortgagors shall suffer or commit
<br />waste on or to the Property, or if there shall be a failure to comply with any
<br />and every condition of this Mortgage, ("event of defaultn), then such de-
<br />faulting party shall, upon written notice by certified or registered letter from
<br />the other, proceed immediately to cure or remedy such default or breach, and
<br />in any event, such event of default shall be cured within ten days after
<br />receipt of such notice, but if any event of default which cannot by its nature
<br />be cured in the time allowed shall be dem:, '.1 cured if curing is commenced in
<br />the time allowed and diligently pursne.~ -=ompletjoI1 thereafter. If the event
<br />of default continues after ,,'he expirl.l~_'. H of the curative period then, at tile
<br />option of the Mortgagee, the Note and the whole of the indebtedness secured
<br />by this Mortgagee, including all payments for taxes, assessments, repairs. or
<br />insurance premiums, shall become due lUtd shall become collectible at once by
<br />foreclosure or otherwise after such default or failure. At any time after the
<br />commencement of an action in foreclosure, or during the period of redemption,
<br />the Mortgagee shall have the right to have a receiver appointed to take imme-
<br />diate possession of the Property and of the rents and profits accruing there-
<br />from, and to rent or cultivate the same as the Receiver may deem best for
<br />the interest of all parties concerned.
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<br />6. MISCELLANEOUS. The term "Mortgagor" and "Mortgageen as used
<br />herein, includes successors in interest. This Mortgage shall be construed in
<br />accordance with the laws of the State of Nebraska. The maturity date of the
<br />Note is December 15, 1984. Each party signatory to this Mortgage hereby
<br />releases, waives, and relinquishes any dower, homestead, or statutory inter-
<br />est in the Property or any part thereof and waive, to the extent permitted by
<br />law. any rights or redemption in or as to the Property.
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<br />7. ASSIGNMENT OF RENTS. To further secure the Note, Mortgagor
<br />hereby assigns to the Mortgagee, all the rents. revenue. profits and income
<br />from the Property and the possession thereof for the purpose of collectblg
<br />and enforcing the same. In the event of a default. Mortgagor does hereby
<br />constitute and appoint the Mortgagee its true and lawsuit attorney-in-fact for
<br />the purpose of taking possession of the Property and collecting all of the
<br />rents. revenue and income thereof and to pay from the money collected from
<br />the Property all fees, commissions. and expenses incurred in renting and
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