|
<br />7. Condemnation. In [he event G`re Property, or any part thereof, shill be taken by eminent domain, the Mortgagee
<br />isempowered to collect and receire dl compensation which may be paid for any property taken or for damages to property
<br />nottaken, and Mortgagee shill apply such compensapon, at its option, either to a reduction of the indebtedness secured
<br />herebg or to repdr and restore the property so damaged.
<br />8. PeTidrmance by Mortgagee. Mortgagee may, but shall have no oMigrtion, to do any act which the Mortgagor
<br />has agreed but fails to do, and Mortgage may also do any act it deems necessary to protect the lien tiereof, Mortgagor
<br />to repay, upon demand; any sums so expended by the Mortgagee fo[ Lhe abore purposes, and any Burns so expended
<br />by Lhe Mortgagee shill be added to the indebtedness secured hereby and become subject to the iien hereof. Mortgagee
<br />- shdfnot incur any-personal liability because of anything it may do ar omit to do hereunder.
<br />9. Iktautt; Assignment of Rents. lime is of the essence hereof, and upon Mortgagor's default in any covenant
<br />rn agreement of thin Mortgage, induding coveusnts to pay when due the sums secured by this Mortgage, the Mortgagee shall
<br />be entitled, at its sole option and without notice, to dedare all sums secured by this Mortgage to be immediately due and
<br />payable and. may commence foreclosure of this Mortgage by judicial proceedings; and, provided further, that upon such
<br />default the Mortgagee, or a receiver appointed by a court, map at its option and without regud to the adequacy of the
<br />security, eater upon and take possession of the Property and rolled the rents, issues and profits therefrom and apply them
<br />first.to the cost o[ collection and operation of the Property and then upon the indebtedness secured by this Mortgagee;
<br />said rents, issues and profits being assigned to the Mortgagee as further security for the payment of the indebtedness
<br />secumd hereby.
<br />- ltl: T4ander of Property. If all or any part of the Property is Bald or transfernd without the ezpress written con-
<br />xnt of the Mortgagee, Mortgagee may at its Bile option, declare dl smffi secured by this Mortgage to be immediately due
<br />and payable.
<br />12. F.ntn[t Adranas. tipon request of Mortgagor, Mortgagee may make edditiond and future advances to
<br />lortggor. Such advances, with interest thereon, shill be secured by this Mortgage when evidenced by promissory notes
<br />statlrr; that sdd notes are secured hereby. At no time shill the principal amount of the indebtedness secured by this
<br />MortpKe, not indnding sums advanced to protect the security of this Mortgage, ezccrd the origind Note.
<br />IY. Miw~llaneous Proriaiont
<br />(a) Aay forebearaace in exercisinj ury fight or remedy shill not be • waiver thereof,
<br />(b) All remedies provided hernia are distinct and cumulative [o any other right afforded oy law or equity,
<br />and may be exercised ~oncurrcntly, independently or succescirdy.
<br />(c) The rnvenants and agreements contained herein sha'.1 bind, and the rights inure to, the respective
<br />sutti~essors and aacigm o[ the Mortgagor and the Mortgagee.
<br />(d) All covenants and agreertienta o[ the Mortgagor are joint and several.
<br />(t) The headinpr o[ the paragraphs of th;s Mortgage are for convenience only and shill not be used to inter-
<br />prct or define the provisions hereof.
<br />13. Rdur- Upon payment of aII sums se<•.ured by this Mort~~_?e, Mortgagee shall discharge this Mortgage and
<br />shah ezecute and deriver a satisfactory release therefor.
<br />IN WITNESS WHEREOF, Mortgagor hu executed this Mortgage on the _~ day o[ __ June , 19 $2-.
<br />~~ i'/ ~~~ -~ -
<br />(Dennis F. N lsen) Borrower
<br />'7 ~%
<br />(Connie L. Nielsen) Baaow°°
<br />State of Nsbraaka, Nat t County ss:
<br />fhr this 1 Grh day o[ tuna 19$.2_ _, before me, the undersigned, a Notary Public
<br />-. duly eommissioaed sad qudified for said rnunty, per;ondly came Dennis F. Nielser, ar,d Connie. L .
<br />- tiielsen. Husband and WiYe to me known to be the
<br />identicd person(s) whose name(s) are subscribed to the foregoing instrument and acknowledged the execution thereof
<br />to be-their voluntary act and deed.
<br />Witaeaa my band and notarial sad at Grand Island, NE _in said county, the
<br />date atorcsaid .
<br />I~/y Conrmiasioo ezpires: ~ -'
<br />~ ~.Atr-Ctwe at wrens r / , 3 -~:
<br />Notarr P,eblic
<br />~~. ~ ~~f
<br />w tam ~. ti.. +a t>ia
<br />~!,~ - (Space Balo w- 7bL Line Rasetved E'ot I,aodrr and Reeoraeri - --
<br />`ti ~ _.
<br />~+ hy.~~G ~, gi
<br />Q ~~ -. - e
<br />t ~
<br />~ >° ~ ~
<br />~ ~ x f.'- ~~;:
<br />_.,t ~ t
<br />~. swk tc~eeecAa~iY sp~ ~"~
<br />fi
<br />VJ
<br />
|