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<br />Section 1.01_ Due Znao ration and Goad Brandin Tawas
<br />and Crnmtrv Realty o rraald Island, Znc. is a corporation in gord
<br />standing under fire .lams of fire State of Nebraska and is duly qualified
<br />anti in goad standing to do bessi.iress and to sett mortgaged Property
<br />in Nebraska.
<br />Section I.02, Corporate Authority Ord Other Matters.
<br />A. The making, perfozman~ and recording of title Mortgage
<br />by Mortgagor are within Mortgagor's corporate power and have been.
<br />duly authorized by all appropriate corporate action and dcr cot
<br />{i) violate any prevision of any law, mle, regulation, order
<br />writ, judgment, itjunction, decree, determination or award presently
<br />in effect having applicability is Mortgagor or of the drarter ar
<br />bylaws of Mortgagor; ar (i.i} result in a breach of or constitute
<br />a default order any inde;~ture or .Loan ar credit agreesrent or any
<br />ether agreement, lease or instrument do otric3r Mortgagor i.s a
<br />party or by which it or its properties may be bnrmd or affected;
<br />ar (iii) result in, ar require., tare creation ar itarpoaition o '
<br />any mortgage, deed of trust, pledge, lien, security interest or
<br />ether ~3rarge err ~rcumbrance of any nature (other than as is
<br />constituted hereby) on the mortgaged property; ar (iv) does
<br />not require the consent of the Shareholders of the Mortgagor or
<br />the authorization, mcrsent cur agrproval of: ar ary license from,
<br />or any filing ar raegistratian with, any governmental holy, except
<br />recording of this Mortgage tar tore appropriate real estate records.
<br />H. The Mortgagor is authorized order tine laws of the state
<br />of Nebraska to execute acrd deliver fire tdote and that all approp-
<br />riate mrgcrate action authorizing such execution and delivery
<br />has been duly taken.
<br />C. The Mortgagor has aumglr:te and lawful authority to own
<br />and operate the mortgaged proparty and that no permits, rights,
<br />franchises, rut pri=•ileges of fire ?dcrrtgagor will L1e allowed to
<br />Iaprse or ~ be forfeited so 1anc~ as the same shall rue r~cessary
<br />rxar the operations of me :xartgagar; and drat it will exercise
<br />it best gff'arts std wry a;d ~:ez-r peeper *s=a,ns ~ prec~~re eYtesr-
<br />sians cur ~newals of each and every right, franchisee or privilege
<br />so expiring and necessary ar desirable 5ar dre operation of rl;e
<br />mortgaged property or die operations of the Mortgagor.
<br />D. Mortgagor will, so long as it is owner of the mortgaged
<br />property, do all things necessary to preserve aid keep in full
<br />force and effect its mcistence, franchises, rights and privileges
<br />ae a wrparation order dre Iarrs of dre state and its ?ncorporation,
<br />and, c~rtply with ail regulations, rules, ardinancea, statutes,
<br />orders and decrees of arty governmental authority or court of
<br />competent iuriadiction applicable trr the Mortgagor, the mortgaged
<br />property or any Bart thereof,
<br />Section 1.03. tiarrant of '*itle. Mortgagor has good and market-
<br />able title to drr mortgage property free and clear of ail liens,
<br />corrditiona, limitations, reservations, and covenants except the
<br />first nrcurtgage fro Cannercial National Hank and Trust Co. as drown
<br />herein. This Mortgage is, and will zxmain, a valid and enforceable
<br />second lien car dre agsrtgaged property and the Mortgagor will
<br />reserve s,x~r title and forever :Jarrart and 3gfend ~e validity
<br />grad senior priority of the lien hereof against the claims of all
<br />pcursons acrd parties s~#wmsaever esccept the aforesaid first lien
<br />txs3lder. If dre tit l® of the Mortgagor to the mortgaged property
<br />ox eery part thereof ar t3r+e lien ar security interest of this
<br />ASt~zk•~.bae th~recrn slr~rl~ tom. in denser. Qr shall be attached directly
<br />ax-indirectly, or if amt legal proceedings shall be instituted
<br />agxin<st t#te Aortgagor, Mortgagor will ~omptly give written notice
<br />thrtr+sof tea tare Mortgagee acrd adll, upon request of the Mortgagee,
<br />at Marcgagor's am post and a~nse, exert itself diligently to
<br />cure arrY defect t3wt cosy be d®velaped ar claimed and ra21 take
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