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<br />4. ?n +he event theiaroperty, cr ely,part thereof,sha:l be taken'byernnent
<br />doriain, the Mortgagee isempc;~--eyed to cc'iecT, and receive ai' rom'pensa~`ion ~;,hich
<br />may be laid 'or any property taken ur'or darages to nraprriy nut taken, and Piortgagee
<br />shall app':y such compensation, a*„ its :-ption, either to a reduction er the 'indebtedness
<br />secured hereby or to repair and restore t`;eproperty so damaged.
<br />5, tortgagee may, but shall have ne obligation, to de any act which the Mortgagor
<br />has agreed but fails to do, anti Mortgagee may also do any act it deems necessary to
<br />protect the lien hereof. Mortgagor aGrees tc repay, upon demand, any sums se expended
<br />by the Mortgagee for the above purposes, and any sums so expended by the Mortgagee
<br />sha11 he added to the indebtedness secured hereby and become subject to the lien,
<br />hereof. Mortgagee shall not incur any personal liability because of anything it
<br />may do or omit to do hereunder.
<br />5, Time is the essence hereof, and upon Mortgagor's default ih any covenant
<br />?:' :agreement ^,` this ,."~rtya^yc, iil~lu%iY,~ t'.pVenatltS to Nay When ttue:'Lhe SUIRS SeCUred
<br />by thrs Mortgage, the Mortgagee shall be entitled, at its sole option and without
<br />notice, to declare all sums secured by *_his Mortgage ;to be immediately due and
<br />payable. and may commence foreclosure of this'MOrtgage by judicial proceedings;
<br />and, provided further., that upon such default_the Mortgagee, or a receiver
<br />' apptsinted by a court, may at its aptiorr and Without regard to the adequacy of the
<br />security, enter upon and take possessifln of the Property and collect the rents.
<br />issues and gro'its'therefrorr, anr# appl~r them first to the cost of coitection and
<br />operation of the Property and then upon the indebtedness secured by this `Mortgage:
<br />said rents, issues and profits being assigned to the Mortgagee as further security
<br />for the payment of the indebtedness secured hereby,
<br />7. lf'all or any part of ..the. .,r`operty is sold ter transferred without the express
<br />written consent of the Mortgagee, t-tor4cagor may at its sole option, declare all sur»s
<br />secured by this Mortgage to be masediat2ly due and payable.'.
<br />t3. Any forebeararce in exercising any rigr,t or remedy shall not be a waiver thereon.
<br />9 All remedies provided herein are distinct and cumulative to any other right
<br />afforded by law ar equrty, and may be exercised concurrently, intfependentiy or
<br />successively.
<br />iii. The c.vvenani,s ar~ci ar~reemen'ta ~ur,iai~ed herein si,ai 1-bind, ano al i rights
<br />inure t,o, the respective successors and assigns pf the Mon*_gagor and the Mortgagee.
<br />11. .All covenants and: agreements of tht±l~tortgagor and the f~ortgagee are joint
<br />and se><erai.
<br />12. t?DOn payment of all sums. secured by thrs Mvrtgage> "ortgagee sha11 discharge
<br />tuns Mortgage and shall execute and deliver a satis'actory release therefor.
<br />' iN +.'IT"aESS ~1NEPEgF, !~rtgagar has executed this Mortgage on the 18th day
<br />_~P~~.~ 19f31 1~G1( _......___._
<br />o f ,__~ ,
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<br />__E d ~f ~~~*~"",Gi
<br />_. _ _ i_
<br />Debra. Eickhoff _ ~~
<br />STATE ;;F NEEP.AS~,A, 'Bali __ uo:;r', 55:
<br />~r, this 18th da t~f ''ta 198 , ;~i, be`ore me the ;ndersigned, a ,iotary
<br />y ----~- - - . .
<br />i?ubli+~ au 1,W comr~issiorted and q,a~r`,ed ?'.;r sal{ county, personall,~ i~arne Ered A. Eickhoff
<br />and zebra Eickhoff, husband and wife to me tcnown ao be the identical
<br />persons wYtose r.arses are subscribed to the foregoing instrument and at'rnowledged the
<br />er.ecution therecf to be their voluntary 3ctand: deed.
<br />------- ~.`._w~w
<br />notary Pub ro~~ c ~._._._._._~___
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