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<br />4. Ih the event the Property, or any part thereof, shall be taken-by eminent
<br />domain, the Mortgagee is empowered_to collect and receive all compensation which
<br />may be paid for arry property taken.. or for .damages to property not taken, and Mortgagee
<br />shall apply such compensation, at its option, either to a reduction of the indebtedness
<br />secured hereby or to repair and restore the property so damaged'.
<br />5. Mortgagee may, but shall have no obligation, to do any :act which the Alortgagor
<br />has agreed but fails to do, and Mortgagee-may also do any act it deems necessary to
<br />protect the lien hereof. Mortgagor agrees to repay, upon demand; any sums so-expended
<br />by the Mortgagee for tite above purposes, and any sums so 'expended, by the Mortgagee
<br />shall be added to the indehtedr,ess secured hereby and become subject to the lien
<br />hereof. Mor±gagee shall not ina.ir any personal liability because of anything it
<br />may do cr oir~t t^ do hereunder.
<br />6. Time is the essence hereof, and upon Mortgagor's default in any cevenan*_
<br />or agreement of this Mortgage, including covenants'to pay-when .due the sums secured
<br />by this Mortgage, the Mcrtgagee shall be entitled, at itr sole option and ,:itho;:t
<br />notice, to declare all sums secured by this Mortgage to be immediately due and
<br />payable and r,ay commence foreclosure of this Mortgage by judicial proceedings;
<br />and, provided fur°; her, that upon such default the Mortgagee, or a-receiver
<br />appointed by a court, may at its option and-'without regard to the adequacy of t'r,e
<br />security, enter upon and take possession of the Property and colleci the rents
<br />issues and profits therefrom and app y them first to the cost of collection and
<br />operation of the Property ar,d then upon the indebtedness secured by this "4ortaage;
<br />said rents, issues and profits being ;assigned to the Mortgagee as fi_,rther security
<br />for he payment of the indebtedness secured hereby.
<br />7. If al ': or any part of the property 'is sold or transferred without the exprr-ss
<br />written consent of the Mortgagee, Mortgagor; may at its soie option, declare all sums
<br />secured by this Mortgage to be immediately due and payable.
<br />8. Any "orebearance in .exercising any right ,or remedy shall not be a ~xaiver thereof.
<br />9. All remedies provided herein are distinct and cumulative to any other `right
<br />afforded by law or equity, and may be exercised concurrently, independently or-
<br />successivel;.
<br />10. The covenants and agreements contained herein shall bind, and al'1 rights
<br />inure to, the respective successors and assigns of the Mortgagor and the Mortgagee.
<br />11. still covenants and agreements: of the Mortgagor and'the Mortgagee are joint
<br />and several.
<br />12. Upon payment of all sums secured by this Mortgage`, Mortgagee shall discharge
<br />this Mortgage and shall execute and deliver a satisfactory release therefor.-
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on the ~Rthday
<br />of ~lu1y --- 1g 82 .
<br />~~~~ __
<br />Michael A. Panowicz ~-
<br />_t
<br />~~Tr~-~.~ _ _ _
<br />Patricia M. Panowicz ,~?`- --
<br />STATE OF NEERASKA, - Hall__ County ss: ~~
<br />On this _ 28th day of July _ _, 19 82,before re, the undersigped, a iyotary
<br />Public duly commissioned and oualified for said county,-personally came Michael A.
<br />Panowicz & Patricia M. PanpwCZ, husbdrd and'~~ife to me known 'to be the identical
<br />persons whose names are subscribed to'the foregoing instrument and acknowledged. the
<br />execution ther20f r_o be their voluntary act. and deed.
<br />,}pNl1 J. STOIIM~ /' `G'1'">7'"X4~..-~__.._ _ ~,~_:
<br />,lotary Public
<br />J,r_ My cow ~ Win. 2t,'IN'- ~;: '
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