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<br /> � �'� UO4�H� EXPANDABLE MORTGAGI��
<br /> ASSIGNMENT OF RENTS Loan No._81�888=9 �
<br /> KNOW ALL MEN BY THESE PRESENTS:That Russel l E. Barr and Susan E. Barr, husband a►1d Wif
<br /> (hereinafter called the Mortgagors)in consideration o�f the sum of �
<br /> Thirty-Seven Thousand Nine Hundred and no/100---------------------Douars(S 37,900.00---)
<br /> foaned to tulortgagors, do hereby grant, barga�n, sel! and convey unto COMMERCIAL FEDERAI SAVINGS AND LOAN ASSOCIATION oi Omaha,
<br /> r Ne bras ka, (hereina fter ca l le d "Commercia l"), i ts successors an d assigns, t he (o l lowing descn be d rea i es ta te, situa te d in i he Coun ty o f;
<br /> Hdl l Staie of Nebraska;to�wit: �
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<br /> Lot 7wo (2), Freedom Acres Subdivision, Ha71 County, Nebraska.
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<br /> TO NAVE AND TO HOLD THE SAME, with ihe appurtenances thereunto helonging, un�o Comrtiercial, its successors and assigns, forever.
<br /> Safd Mortgagors hereby covenant with said Commercial, its successors and assigns, that Morigagors are lavrfully seized of saitl premises, that
<br /> they are free from encumbrances, and that they v�i ll forever warrant and defend the title to said premises against the lawful ciaims of all persons
<br /> whomsoever.
<br /> Pmvided,nevertheless, these presents are upon the following conditions
<br /> That whereas the saitl Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing to repay said
<br /> sum of money, with inferest, in payments as sef forfh in said note and have a;reed fo abide by the terms of szid nofe and C6arter and By-Laws of
<br /> CommerciaL �
<br /> That whereas this mortgage shall secure any additionai advances, with inter2st, ::hich may, a! the option of Commercial,be made by Com-
<br /> niercial to the undersigned Mortgagors or their successors in title for any purpose,at any time before the release and cancellation of this mortgage,
<br /> but PROVIDED, HOWEVER,at no tirne shall the aggregate principal amount secured by this rnortgage,being the amount due at any time on said
<br /> original note and any additional advances made.exceed an amount equal to 110 percent of the amount of the original note,hut in no event shall
<br /> said note exceed the maximum amount pennitted by law,antl PROVIDED,HOWEVER,that nothing herein containetl shall be consitlered as limiting
<br /> the amount that shali be secured hereby when advanced to protect the security or in accordance witti covenants contained in the mortgage.
<br /> Now, if the said ��Iortgagors shali pay or cause to be paid the saitl sums of money when due,as set forth in said note,and any other note for
<br /> addilional advances made ontil said debt is fully paid with interest, then these presents shall be void:otherNise,to be and remain in fuU ferce and
<br /> effect;but ii default should be made:
<br /> (a) In any of ihe payments due on saitl note,and any other note for additional advances made,as therein agreed to be made for three months,or
<br />� , (b) In keeping ihe impwveinents on said premises insured against loss by reason of fire, lightning, and other hazards included in extended
<br /> coverags insurance in an amount not less than the unpaid balance of said mortgage loan, in a company orcompanies acceptable to Com-
<br /> mercial, the original of such policy or policies to be held by Commercial,and with a mortgage clause attached to said policy or policies, -
<br /> in(avor of Commerciai;or
<br /> (cj In the payment of taxes and assessments levied upon said premises,or on this mortgage, before they are delinquent;or
<br /> ; (d) (f there is any change in the ownership of the real estate mortgaged herein,6y sale,either outright or by land contract,or hy assignment of
<br /> any interest thereon or olherwise;
<br /> then, in any of the abpve set-forth events, the whole indebtetlness here6y secured shall, at the option of Commercial,immediately become due and
<br /> payable without furlher notice,and the amount due under said note and any other note for additional advances made shall,from the date of the exercise
<br /> oi saitl option,bear interest at the maximum legal rate per annum,and this mortgage may then be foreclosed to satisfy the amount due on said no�e,and
<br /> any other noie for additionai advances,together with all sums paid by Commercial for insurance,taxes,assessments antl abstract exiension charges,
<br /> with interest thereon from the date of payment at the maximum legal rate.
<br /> - --��� ��-n-��-�� ��� ��lia=�f��a �r arrPr dafaulL_sttaLL_ihe_interest_due under said note and this mort a e and an other note for ad-
<br /> , �i .. rnvviu�� ����. �� �.. .,...,.., _....s. _.._._ _ _.._ _. ...... g g Y . .. .
<br /> ditional advances made exceed the maxiinum lawful interest rate.
<br /> PROVIDED,Furiher, that in the event that default occurs in the making of the payments due on said note,and on any other note for additional
<br /> advances, as therein agrced to be made, or in keeping tlie premises insuretl, as 2bove provided,or if defauit be made in the payment of the taxes
<br /> or assessments levied upon the premises above described or upon �his mortgage, before they are by law delinquent,Commercial shall be entitled
<br /> to the immetliate possession of the premises above-describetl, together with ali renls, proceeds and issues arising out of ihe premises,and may
<br /> in ifs discretion use the rents so far as it deems necessary for the purpose of rnaking repairs upon the premises and for the payment of insurance
<br /> premiums,taxes and assessments upon such premises,antl for necessary expenses inc�rred in renting said premises and coliecting rent therefrom,and
<br /> to apply same on said note and any notes evidencing future advances hereunder until the indebtedness secured is(ully paid;and for such purposes,
<br /> the undersigned does hereby sell,assign, set over and transfer unto Commercial ali of said renls,proceeds and incomes including any land contract
<br /> payments due mortgage owners or any other incomes of any type whatsoever from said property to be appiietl on the notes above�describetl; but said
<br /> Commercial shall in no case be liable for the failure to procure tenants,to collect rents.or to prosecute actions to recover possession of said premises.
<br /> The Mortgagors furtber appoint Commercial of Omaha, Nebraska, their attomey in fact, giving said attomey power irrevocably,either on its own '
<br /> name or Mortgagors'names to take ali necessary steps for proceedings in court or otherwise, to cause said premises to be vacated,to coliect rentals
<br /> or othet incomes due,and when vacant,to relet the same,to make all reasonable repairs antl pay taxes out of said rents,pro(its,contract payments or
<br /> incames and to tlo aii sucfi things either by its own officers or by other parties duly aulhorized and appointed by ii,as its agent for said purpose,and
<br /> to charge or pay a reasonable fee for such services, ali of the a6ove to be done at such times and in such manner and on such terms as to their said
<br /> atlorney may seem best,with full power of substitulion.
<br /> The Mortg2gors hereby agree that if Commercial either voluntarily or involuntarily hecomes or is made a party to any suit or proceeding reiating
<br /> to the hereinbe(ore described real estate, or to this mortgage or said note or notes, other than a foreclosure instituted by Commercial,Mortgagors will
<br /> reimburse Commercial for all reasona6le rosts incurred by Commercial in said suit or proceeding.The hlorigagors further agree that if the herein�etore
<br /> described real estate or any part ihereof be condemned under ihe power of eminent domain, or is otherwise acquired fnr a public use, the damages
<br /> awarded, tlie proceeds for the taking,and for the consideration for such acquisition to the extent of the full amount of the remaining unpaid indebted-
<br /> ness secured by this morigage, be,and ihey hereby are,assigned to Commercial and shall be paid forthwith to ComrrFercial to be appiied on account of
<br /> f ; the last maturing installments of such intlebtedness.
<br /> Dated this 28th day of—.1�1_� __, 19 7_Z_.
<br /> R EY C E O F: --i'.1�..�"s-��--��-��=---- ---------
<br /> Russ�J E. Barr ��
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<br /> _ C.�,IA,`L�r:i, � .� 1 ,�.,�� ---
<br /> - Susan E. Barr ��
<br /> STATE OF NEBRASKA ' u
<br /> COUNTY Of Hd�l ss. — --.-_------ � ,''
<br /> ! On this _Z.�t�l____day of___�_s�L1 v _, 19�1, betore ine, a notary pu6lic in and for saiA County,personaily came
<br /> the above-nametl N�;+
<br />� °ussel'! E. Barr and Susan E. Barr, husbarsd and wife
<br /> !o me well knewn to be the iden;ical p�rson o;pefsens:��hose name is or names ar�afiixed;o !he sbcv�^:crt,;,;c.:s.or�n?o;c�;�a�tc�s�^d?hc,,hc
<br /> or she,several�y acknowiedge the said n thereof,to be their volunlary act and deed. '
<br /> NArto�o c a�cNrER �- �
<br /> WITNFSS my h�ntl and Nolarial Seal thi , _e2r Iasfif�6�d�riN�rtEi{�y �/
<br /> MSTaiE �r NEBRASKA _ . —___. �----_. ____
<br />� , y Co+►tn7lssion � � Notarv �'u�!�c �
<br />-� 1 My connnission expires nn �he__. 2gth _day of_— —.19 Z9._. P' SC
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