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<br />82-1)U~15~
<br />7. Coadempatioa. In the event the Property, or any part thereof, shell be taken by eminent domain,the Mortgagee
<br />is empowered to collect and receive all compensation which may be paid for any property taken or for damages to property
<br />not taken, and Mortgagee shall apply such compensation, at its option, either to a reduction of the indebtedness secuml
<br />hereby or to repair end restore the property so damaged.
<br />8. Performance by Mortgagee. Mortgagee may, but shall have no obligation, to do any iict which the Mortgptor
<br />has agreed but tails to do, and Mortgagee may also do any act it deems necessary to protect the lien hererrt. Mortgagor
<br />agrees to repay, upon demand, any sums so expended by the Mortgagee for the above purposes; and any sums so expanded
<br />by the Mortgagee shah be added to the indebtedness secured hereby and become subject to the lien hereof. Mortgsgee
<br />shall not incur any personal liability because of anything it may do or omit to do hereunder.
<br />9. Default; Assignment of Rents. Time is of the essence hereof, and upon Mortgagor's default in any covenant
<br />oragreemeat of this Mortgage, including covenants to pay when due thesums secured by this Mortgage, the Mortgagee-shalt
<br />be entitled, at its sole option and without notice, to declare 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, may at its option and without regard to the adequacy of the
<br />security, eater upon and take possession of the Property and collect the rents, issues and proffta therefrom and apply them
<br />first to the cost of collection and operation of the Property and then upoa the indebtedness secured by this Mortgagee•
<br />said reats~ issues-and profits being assigned to the Mortgagee as further security- for the payment of the indebtedoess
<br />secured hereby.
<br />10. Transfer of Property. It all or any part of the Property is sold or transferred without the express written con-
<br />sent of the Mortgagee, Mortgagee may at its sole option, declare all sums secured by this Mortgage to be immediately due
<br />and payable.
<br />11. Future Advances Upor. request of Mortgagor, Mortgagee may make additions! and Nture advances to
<br />Mortgagor. Such advances, with interest thereon, shall be secured by this Mortgage when evidenced by promissory notes
<br />stating that said notes are secured hereby. At no time shall the principal amount of the indebtedness secured by this
<br />Mortgage, not including sums advanced to protect the security of this Mortgage, eaceed the original Note.
<br />12. Miscellaneous-Provisions.
<br />(a) Any forebearance in exercising any right or remedy shall not be a waiver thereof.
<br />(b) All remedies provided herein are distinct and cumulative to any other right afforded by law or equity,
<br />and may be exercised concurrently, independently or successively.
<br />(c) The covenants and agreements contained herein shall bind, and the rights inure to, the respective
<br />successors and assigns of the Mortgagor and the Mortgagee.
<br />(d) All covenants and agreements of the Mortgagor are joint and several.
<br />(e) The headings of the paragraphs of this Mortgage are fox convenience only and shall not be used to inter-
<br />pret or define the provisions hereof.
<br />13. Release. Upon payment of all sums secured by this Mortgage, Mortgagee shall discharge this Mortgage and
<br />shall execute and deliver a satisfactory release therefor.
<br />IN WITNESS WHEREOF, Mortgagor has executed this Mortgage on the Z 1 _ day of February ,1~ I .
<br />Pioneer Investments, A Partnership, d/b/a/a
<br />Pioneer Estates
<br />
<br />State of Nebraska, Hall County ss:
<br />On this 11 day of
<br />February
<br />noaower
<br />19 81 ,before- me, the undersigned, a Notary Public
<br />duty commissioned and qualified for said county, personally came Tom R. Larsen, Partner for Pioneer In-
<br />vestments, A Partnership,. d/b/a Pioneer Estates , to me known to be the
<br />identical person(s) whose name(s) are subscribed to the foregoing instrument and acknowledged the execution thereof
<br />to ~ his __ voluntary act and deed.
<br />Witness my hand and notarial seal at Grand Island, Nebraska in said county, the
<br />date aforesaid. '
<br />My Commission 1 ~ /~~ ''~% '
<br />~aw~NW al aer.w ~~-t1~-~"_ _ ~ci, --:r
<br />wwwG itAtiErtT 3~ T- NOtarr PYbllC
<br />aa).tlomm.6y. Oct. 10. ia82 u
<br />;Se~ee Allow Rntia Line Aeaerv~ Far I.eodex sad Recorder;
<br />NAC led8 IND SOa 41a0
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