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r <br />81--y'~~~5~~~ <br />4, In the event the Property, or any part thereof, shall be taken by eminent <br />domain, the Mortgagee is empa;rered to collect and receive all compensation which <br />may be paid for any 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 Mortgagor <br />has agreed but fails to do, and Mortgagee may also do any act it deems necessary to <br />prCtert the lien hereof. Mortgagor agrees to repay, upon demand, any sums so expended <br />lay the Mortgagee for the above purposes, and any sums so expended by the "s':ortgagee <br />shad be added to the indebtedness secured hereby and become subject to the lien <br />hereof. Mortgagee shall not incur any personal liability because of anything it <br />may ~ or omit to do hereunder. <br />b. Time is the essence hereof, and upon Mortgagor's default in any covenant <br />or agreenent of this Mortgage, including covenants to pay when due the sums secured <br />by this Pbrtgage, Lhe Mortgagee shall be entitled, at its sole option and without <br />noti-fie, to declare all sums secured by this Mortgage to be immediately due and <br />pa,Yable and may commence foreclosure of this Mortgage by 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 />security, enter upon and take possession of the Property and collect the rents <br />issues and profits therefrom and apply them first to the cost of collection and <br />operation of the Property and then upon :he indebtedness secured by this Mortgage; <br />said rents, issues and profits being assigned to the Mortgagee as further security <br />for the payn~nt of the indebtedness secured hereby. <br />7. If all or any part of the property is sold or transferred without the express <br />written consent of the Mortgagee, Mortgagor may at its sole option, declare all sums <br />secured by this Mortgage to be immediately due and payable. <br />8. Any farebearance in exercising any right or remedy shall not be a waiver thereof. <br />g. All remedies prnvided herein are distinct and cumulative to any other right <br />afforded by law or equity, and may be exercised concurrently, independently or <br />su~ssively. <br />10. The covenants and agreements contained herein shall bind, and all rights <br />inure to, the respective successors and assigns of the Mortgagor and the Mortgagee. <br />12. Ail covenants and agreements of the Mortgagor and the Mortgagee are joint <br />add several. <br />12, flora payment of all sums secured by this Mor€gage, Mortgagee shall discharge <br />iihis Mr~rt9age and smell execute and deliver a satisfactory release therefor. <br />1M ~iIT55 f~iEREOF, Mortgagor has executed this Mortgage on the 20th day <br />oi` _ liovr 19 81 . <br />Donald A. Rasmussen <br />-1 ~ ..~aZ^.C.J <br />Ma asmussen <br />STATf OF NEBRASKA, !loll County ss: <br />On this ~O=~'day of 7(ovc..,R,c... 1981 ,before me, the undersigned, a Notary <br />Public duly commissioned and qualified for said county, personally came Donald A. <br />Basmaatssen and Mabel I. Rasmussen, husband and wife to me known to be the identical <br />person4-whose names are subscribed to the foregoing instrument and acknowledged the <br />execution thereof to be their voluntary act and deed. <br />~ ~.__ <br />~~~ Notary 1~~- <br />~`~ <br />