|
<br />7: Condemnation. _ In the event the Property, or any part themof, shall be taken by eminent domain, the Mortgagee
<br />_ is rmpc~vrered to collect and rtieeive aiI compensation which may be paid for sny property taken or for damages to property
<br />- not taken, and Mortgagee shall apply such compensation, at ik option, eikher to a reduction of the indebtedness secured
<br />y hereby or to repair aird'restoco-the property so damaged:
<br />- ~ ' 8. Performance by Mortgagee. Mortgagee may, but shall have ra obligation, to do any act which the Mortgagor
<br />= has agreed but faitsao do, and-Martgagee may also do any`act it deems necessary to protect the lien hereof. Martgagor
<br />-~ agEees to repay, upon detnand; anq sums so expended by the Mortgagee for-the shove purposes, and any. sums so expended
<br />- by the Mortgagee shat! be added to the indebtedness secured hereby and become subject to the lien hereof. Mortgagee
<br />shall not incur any personat liability because of.anything itmay do or omit to do hereunder.
<br />9. Dehult~ Assignment of Rents;. Time is of the essence hereof, and upon Mortgagor's default in any covenant
<br />ocagraement of thisMortgage, inducting covenants to pay when due the sums secured by this Mortgage, the Mortgagee shall
<br />be entitled, at its sde option and withcatt notice, to declare all sums secucod by this Mortgage.to be immediately due and
<br />payable and may commence foreclosure of this Mortgage by judicial proceedings; and, grovided further, that upon such
<br />defanit the Martgagee, or a receiver appointed by a court, may aY its option. and without. regard to the adequacy of the
<br />security, enter upon and take possession of the Property and collect the rents, issues and profits therefrom and apply. them
<br />firs Co the cast of collection and operation of the Property and then. upon the indebtedness secured by this.Mortgagee.
<br />=said req~ issues and profits being.. assigned to the .Mortgagee as further security for the paytnent of the indebtedness
<br />secured hereby.
<br />14. firmafe o[ Property. If all or any part of the Property is sold or transferred withaut the express written con•
<br />sent of:the Mortgagee, Mortgagee may at its sde option; declare all sums secured by this Mortgage to be immediately due.
<br />and paya~e.
<br />Il: Etlttue Advances. .Upon request of Mortgagor, Mortgagee m.~y make additional and future advances to
<br />Mortgagor: Sudr advances, withinterest:thereon,shall be secured by this Mortgage when evidenced by promissory notes
<br />stating that said notes are sec°ucod hereby. At no time shall the principal amount of Lhe indebtedness secured Fly this
<br />Meatgage, not inducting sums advanced to protect the security of this Mortgage, exceed the original Note.
<br />12 M'rcellaaeous Provisions,
<br />(a) Any Corebearanee in exercising any right or remedy shall not be a waiver thereof.
<br />(b} All comedies provided herein.. are distinct and. cumulative to any other right afforded by law ar equity;:
<br />and,may be exercised ~ncuzrently, independently ar successively.
<br />(c) .The covenants. and agreements contained herein shsU bind, and the rights inure to, the respective
<br />successors and a~igas of the Mortgagor sad the Mortgagee.
<br />(d) Al! covenanu and agreements of the Mortgagor aco joint and several.
<br />(e) 'Ihe headings of the-paragraphs of this Mortgage are [otcanvenience only and shall not be used to inter-
<br />peel or deCtne the provisions hereof.
<br />13:'R~Maae. Upon payment of aU sums secured by this Mortgage, Mortgagee shalt discharge this Mortgage and
<br />shW ezacute and deUver a satlstattory rdeaae therefor.
<br />IN WITNESS WHEREOF, Mortgagor has. executed this Mortgage on the 21 s t day of A r ' lg S 2 ,
<br />.- 1
<br />{Rand i W. Stewart) "~ 6ouower•
<br />~~, ~---~
<br />era or manT`-'~- aoaow~:
<br />State of Nebraata,- --- ila~.2. County ss:
<br />On this 21 day of April 19 82 ,.before. me, the undersigned, a Notary Public
<br />duly commissioneai and:qualiSed [ar said county, personally came &aadai r e~ _ cry..^rr
<br />_ __ and _ raid F Wo man do me known to be the
<br />identical person(s) whose name(s) are subscribed to the foregoing instrument end acknowledged the. execution thereof
<br />to he tl-,eir voluntary act and deed.
<br />Witness my hand andnotarial seal at Grand :Island NE in said county, the
<br />date aforesaid.
<br />My Commission expires. ~ ~-
<br />arenuaarunr-siwriF~asia ~~!?!'-? ~-~-=.=~ r.«,.~ ~~"..__
<br />~.r\ MAttCiE RAtDEAT ~ 1 Notnry Pubnc
<br />` N .l~SWee Bdoie This I3ne Raserved..Faa Lendu and Recorder)
<br />1 ~ ~
<br />O
<br />O ~ V `~
<br />i~'~ ~ ~jnt a Ks ~~,.1 ~" ";fit ..
<br />~ I
<br />l tv az. .
<br />¢ •.• r
<br />~ ~ \
<br />vI! ~ ~
<br />.. C ?: W~ 2666 LNL 39a ?laU ••
<br />u , .-
<br />
|