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4: In the event thQ Property, or any part thereof, shall be taken by eminent
<br />~ dpr-aain, the Mortgagee is ~oiwered to collect and receiv@ all compensation which
<br />~V ~ may be parid for any pra~perty taken or for damages to property not taken, and Fiartgagee
<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 lbrtgag~ iea3r, Dut 3ha11 have r~ obligation, to do any act which the Mortgagor
<br />h;ssi ~preed but fails to do, and Mortgagee may also do any act it deems necessary. to
<br />° p-~t the lien heiFeof. Mortgagor agrees to repay, upon demand, any sums so expended
<br />by ! Mbrtgagee for the above purposes, and any sums so expended try the Mortgagee
<br />st6#lt~ be added to-the indebtedness secured hereby and become subject to the lien
<br />her~af. Mortgagee shall not incur any personal liability because of anything it
<br />do or omit to do hereunder.
<br />6. 'dare is the essence hereof, and upon Mortaagar's default in any covenant
<br />ar agreeaaent of this Mortgage, including covenants to pay when due the sums secured
<br />by thifi Mortgage, the Mortgagee shall be entitled, at its sole option and without
<br />notirrle, era decllare all sums secured by. this Mortgage to be immediately due and
<br />parable and may canrrence foreclosure of this Mortgage try judicial proceedings;
<br />and, provided further, 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 the
<br />sliecttrity, enter upon and take possession of the Property and collect the rents
<br />issues and profits therefrota and apply them first to the cost of collection and
<br />apOtitian 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 />far the payment of the indebtedness secured hereby.
<br />7, If alt ar any part of the property is sold or transferred without the express
<br />wriirtitn consent of the Mortgagee, Mortgagor stay at its sole option, declare ail sums
<br />sar~ured by this Mortgage to be imarediate7y due and payable.
<br />$. Any for°ebearance in exercising any right or remedy shall not be a waiver thereof.
<br />4. Ail remedie3 provided herein are distinct and cumulative to any other right
<br />afteedad by taw ar e~ity, artd°may be exercised concurrently, independently or
<br />sua+c+easively.
<br />I0. The covenants and agreements contained Herein shat] bind, and all rights
<br />itwrs to, the respeetive successors and assigns of tha Mortgagor and the Mortgagee.
<br />li. All covenants and agree,irE+-.ts of tht Nortgagor and the Mortgagee are joint
<br />a~ vera~ l .
<br />i2. Upon payment of ail soars secured try this !Mortgage, Mortgagee shall discharge
<br />LIl1° #i@rie and shall execute ar;d deliver a satisfactory release ti?erefor.
<br />I!i 4fiTNESS 6h#€REUf, MOrtg~~or kas executed this ~tartga9e on the +2th day
<br />f .~ .~
<br />STA3iE QF IiE@RASitA, Fist 2 _ County ss
<br />On this 12th day of A____~u ust ~__~i, 19_b3,before me, the undersigned, a Notary
<br />°~~ Pu!>1#e duly coumissioned and qualified fir said county, personally carne
<br />43.' Lino Landers & BeverZ Landers
<br />Y ______~, to me known to be the identical
<br />~' ids apse naa5 aril subfaeritred to fire fs~regoing instrument and acknowledged the
<br />~` exACUtic,~t t~r~-f to be their voluntary act and d d
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<br />,: ~~:: a~ °Ap ' ,_. 983
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