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<br /> ��- (!�?�� � � E XPAN DABLE MORTGAGE
<br /> ASSIGNMENT OF RENTS Lozn No..__81J�0�_3—_
<br /> KNOW ALL MEN BY THESE PRESENTS:That George Rodman III and Carolyn S. Rodman, husband and wife
<br /> hereinafter called the Mortgagors)in consideration of the sum o(
<br /> Thirty-Three Thousa�d One Hundred Fifty And nof100---------------- Doilars(S 33,150.00----)
<br /> loaned to Mortgago�s, do hereby grant, bargain. sell and convey unto COMMERCIAL fEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br /> J � Nebraska, (hereinafter called "Commercial"), iis successors and assigns, the following described real estate, situated in the County of,
<br /> Hdl l Siate of Nebraska,to-wit:
<br /> Lot Fourteen (14), Block Five (5), in Clausen Country View Addition to
<br /> the City of Grand Island, Nall County, Nebraska.
<br /> TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Cominercial, its successors antl assigns, forever.
<br /> Said tdorlgagors here6y covenant with said Commercial, its successors antl assigns, that h1ortgagors are lawfuily seizetl of said premises,that
<br /> they are fres from encumbrances, and that they wii( forever warranf antl defend the titie to said premises against the lawtul claims of all persons
<br /> whomsoever:
<br /> Provided,nevertheless, these presents are upon the foliowing conditions
<br /> Thal wheress the said Mortgagors as members of Commercial have this date executetl a note evitlencing such loan and agreeing to repay said
<br /> surn of money, with rnterest, in payments as set forih in said note and have agreed to atritle by the terms of said note and Charter artd Dy-Laws ol
<br /> CommerciaL
<br /> That whereas this mortgage shall seare any additional advances, with interest, which may, at the option oi Commercial,be made by Com-
<br /> mercial to the undersignetl Mortgagors or their successors in title(or any purpose,at any time before ihe release and cancellation of this mortgage,
<br /> but PROVIDED, HOW[VER,at no time shall the aggregale principal amounl securetl hy this mortgage,being the amount due at any time on said
<br /> original note and any additional advances made,exceed an amount equal to 110 percenf of the arnount of the original note,but in no event shall
<br /> said note exceed the maximum ainounl permitted by law,and PROVIDED,HOWEVER,that nothing herein contained shall be considered as limiting
<br /> the amount that shali be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage.
<br /> Now, if lhe said Mortgagors shall pay or cause to be paid tlie said sums of money when due,as set(orth in said note,and any other note for
<br /> additional advances made until said debt is fully paitl witl� interest, then ihese presents shall be void;other,vise,to be and remain in(uil force and
<br /> effect;but if defauit should be made:
<br /> (a) In any o(the payments due on said note, and any other note for additional advances made,as lherein agreed to be made For three months,or "
<br /> (h) In keeping the improvemeots on said premises insured against loss by reason of fire, lightning, and other hazards inctuded in extended
<br /> coverage insurance in an amount not less than the unpaid balance o(said mortgage loan, in a company or companies acceptable to Com-
<br /> mercial, the original of such poiicy or policies to be held by Commerciai, and with a inortgage ciause attached to said policy or policies,
<br /> in favor of Commercial;or
<br /> (c) In the payment of taxes and assessments tevied upon said premises,or on this mortgage,before they are delinquent;or
<br /> (d) If there is any change in lhe ownership o(the real estate inortgaged herein, by sale,either outright or by land contract,or by assigmnent of
<br /> any interest thereon or otherwise;
<br /> then, in any of the above set forth events, the whole indebtetlness hereby secured shall, at the option of Commerciai,immetliately become due and
<br /> payabie without further notice,antl the amount tlue under said note and any other note for additional advances made shall,from the date of the exercise ,
<br /> of said option,bear interest at fhe maximum legal rate per annum,and this mortgage may then be foreclosed io satisfy the amount due on said note,and
<br /> any other note for additional ativances, together with all sums paid by Commercial for insurance, taxes,assessments and abstract extension charges,
<br /> with interest thereon irom the date of payment at the maximum Iegal rate.
<br /> PROVIDED that in no event, either before or after default, shall the interest due under said note anA this mortgage and any other note for ad-
<br /> ditional advances made exceetl the maximum lawful interest rate.
<br /> PROVI�ED,further,that in the event that default occurs in the making of the paymerits due on said note,antl on any other note for addilionai
<br /> advances, as therein agreed lo be made, or in keeping the premises inswed, as above provided,or i(de(ault be made in the p2yment o(the taxes
<br /> or assessments levied upon the premises above described or upon this mortgage, before they are by law delinquent, Commercial shall be entitled
<br /> to the immediale possessiori of the premises above�descri6ed, together with ali rents,proceeds and issues arising out of the premises,and may
<br /> in its discretion use the rents so far as it deems necessary for the purpose of rnaking repairs upon lhe premises and for the payment of insurance
<br /> F p�emiuins.taxes and assessments upon such premises,and(or necessary expenses incurred in�enting said premises and collecting rent therefrom,and
<br /> to appty same on said note and any notes evidencing future ativances hereunder until the indebtetlness secured is fully paid;antl for such purposes,
<br /> the undersigned does here6y sell, assign, set over and transfer unto Commercial all of said rents,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 applied on the notes above-tlescribetl; but said
<br /> Conimercial shall in no case be liable for the failure to procure tenants,to coliect rents,or to prosecute actions to recover possession ot said premises.
<br /> The Mortgagoa further appoint Commercial uf Omaha, Nebraska, their aftorney in fact,giving said attomey power irrevocably,either on its own �
<br /> name or Mortgagors'names to lake all necessary sieps for proceedings in court or otherwise, to cause saitl premises to be vacated. to collect rentals
<br /> or olher incomes due,and when vacant, to relet the same, to make ali reasonable repairs antl pay taxes out of said rents,profits,contract payments or
<br /> incomes and to do all such things either by its own officers or by other parties duly authorizetl and appointed by it,as its agent for saitl purpose,and
<br /> to charge or pay a reasonable fee for such services,all of the above to be done at such times and in such manner and on such terms as to their said
<br /> attomey may seeni best,with full power of su6stitution.
<br /> The Mortgagors hereby agcee thai if Commercial either voluntarily or involuntarily becomes or is made a party to any suit or proceeding relating
<br /> to the hereinbefore described real estate;or to this mortgage or said note or notes, other than a foreclosure instiluted t�y Commercial, Mortgagors will
<br /> reimburse Commercial for ail reasonable costs incurred by Commercial in said suit or proceeding. The Fdortgagors(urther agr2e that if the hereinbefore
<br /> described real estate or any part thereof be condemned untler the power of eminent domain,or is otherwise acquired for a pu6lic use.the dainages
<br /> awarded, the proceeds for the taking,and for the consideration for such acquisition io the extent of the full ainount of the remaining unpaitl indebted-
<br /> ness secured 6y this mortgage,be,and they hereby 2re,assigned to Commerciai and shall be paid forthwith to Coinmercial to be applied on account of
<br /> the lasi maturing installments of such indebtedness.
<br /> Dated this_�S�--_tlay oi_Auoust __, 191Z.
<br /> J �pH�P, _CF.NCF OP �^
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<br /> � _.._.. G��.�.�. , �.-��.-� -
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<br /> �__f�,��.�¢�.i� ��-`---�2� George Ro�an I I I
<br /> —� 69 - n
<br /> __-�l����---��y,�wI -------
<br /> Carolyn Rodman --�=T� ,,
<br /> STATE OF N EBRASKA
<br /> N.
<br /> {( CoutvrYOF' 8uffalo ss, _ _ --
<br /> t On this_.._.�_St_-.____day of._;_,Al1aU5�:.�_— , 19 ZZ,before me, a notary public in and for said County, personally came
<br /> the above-named
<br /> George Rqrdu�3�.1,Ii�an,rd C43ro1vn�Rodman, husba�d end wife
<br /> to me well known to be the ider�ical rson or�v$Ss�or mes are affixetl to the abc,�e mortqaRe as Rrantm or grantors and #hev,he
<br /> or she,sevetally acknowletlge t sa instrument��x�hereo to 6e their volu�tary act and deed.
<br /> AATE OF NEBRASKA _,�'"-'�_' _.,`
<br /> WVTNESS my handandNotarial eagjt� ���������� /]����ri"��!',�a'�.�• �
<br /> � �y2=�.r`Z`�-rLviE-x��c..�r-= -.._`:__..__-
<br /> Nciary Public �
<br /> t9y cocnmission expires on the.__29th vday of Se�tember_.__, ?y._7_9. �n-�o
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