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<br /> 77-U�6247 EXPAN DABLE MORTGAGE
<br /> ASSiGNMENT OF REhITS Loan No._ 818394-7
<br /> KNOW ALL MEN BY THESE PRESENTS:That Dennis J. Wi les and Janice K. Wi les, husband and wife
<br /> (hereinafter cailed the Mortgagors)in consideralion of the sum of
<br /> Thirty-One Thousand Fifty and no/100------------------------------Douarsl5•31 ,050.00----)
<br /> loaeed to Mortgagors, do hereby arant, bar¢ain, sell and convey unto COMbIERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br /> (' Nebnska, (hereinafter caHed "Commercwl"), its successors and assigns, the following described real estate, situated in the County ot,
<br /> 1 Ha 11 State of Nebraska,to-wit:
<br /> Easterly 57' of the Westerly 63' of Lot four(4) in Block two(2), in Westerhoff's
<br /> First Subdivision in the City of Grand Island, Hall County, Nebraska, excepting
<br /> therefrom the North 30' heretofore conveyed to the City of Grand Island for
<br /> street purposes. �
<br /> TO HAYE AND TO HOL� THE SAME, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns,forever.
<br /> Said Mortgagors hereby covenant with said Commerdal, its successors and assigns,that Mortgagors are lawfully seized of said premises,that
<br /> they are free from encumbrances, and that they witl forever warrant and defend the title to said premises against the lawful claims of all persons
<br /> whomsoever.
<br /> Provided,nevertheless, these presents are upon the following condiGons:
<br /> That whereas the said Mortgagors as members oi Commercial have this date executed a note evidencing such loan and agreeing to repay said
<br /> sum of money, with interest, in payments as set forth in said note and have agreed to abide by the terms of said note and Charter and By-Laws of
<br /> Commercial.
<br /> That whereas this mortgage shalt secure any additional advances, with interest,which may, at the option of Commeraal.be made by Com-
<br /> mercial to the undersigned Mortgagors or their successors in 6Ue for any purpose,at any time before the release and cantellation of this mortgage,
<br /> but PROVIDED, HOWEVER,at no time shall the aggregate pnncipal amount secured by this mortgage, being the amoun►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, but in no event shall
<br /> said note exceed the�aximum amount permitted by law,and PROVIDED,HOWEVER,that nothing herein contained shall be considered as limiting
<br /> the amount tfi�M�Itlil��c�d hereby when advanced to protect the security or in accordance with covenants contained in the mortgage.
<br /> Now, if the said Mortgagors shall pay or cause to be paid the said sums of money when due,as set forth in said note,and any other note for
<br /> additional advances made until said debt i s fully paid with interest, then these presenis shall be void;otherNise,to be and remaln in full force and
<br /> effect;but if default should be made:
<br /> (a) In any of the payments due on said note,and any othei note for additional advances made,as therein agreed to be made for three months,or
<br /> (b) In keepmg the improvements on said premises insured against loss by reason of fire, lightning, and other hazards included in extended
<br /> coverage insurance m an amount not less than fhe unpaid balance of said mortgage loan. m a company or companies acceptable to Com-
<br /> merdal, the orig�nal of such policy or policies to be held by Commercial, and with a moitgage clause attached to said policy or pollcies,
<br /> �n favor of Commercial;or
<br /> (c) In the payment of faxes and assessmenis levied upon said premises,or on thls mortgage. before fhey are delinquent:or
<br /> (d) If Ihere is any change in the ownership of the real estate mortgaged herein, by sale,either outnght or by land contract,or by assignment of
<br /> any interest ihereon or otherwise;
<br /> tfien, in any of fhe above set-forth events. the whole indebtedness hereby secured shall, at the option of Commercial,immediately become due and
<br /> payable without furtl�er notice,and the amolint due under said note and any other note for additional advances made shall,from ihe date of the exercise
<br /> of said option,bear inte�esl at Me maximum legal rate per annum,and ihis morigage may then be foreciosed to satisfy the amount due on said note,and
<br /> any other notie for additional advances,together with all sums paid by Commercial for insurance, Wxes,assessments and abstract extension charges,
<br /> with interest lhereon trom the date of payment at the maximum legal rate.
<br /> PROViDEU that in no event, either before or after de�ault, shall the mterest due under said note and this morigage and any other note for ad-
<br /> ditional advances made exceed the maxlmum lawful roterest rate.
<br /> PROVIDED,further,that in tfie event that default occurs in the making of the payments due on said note,and on any other note for add�tianal
<br /> advances, as iherein agreed to be made, or in keeping ihe premises insured, as above pwvided,or if default be made in the payment of the taxes
<br /> nr assessments levied upon the premises above described or upon this �nortgage, before they are by law delinquent, Canmercial shall be entitled
<br /> to the immediate possession of the premises above-described. together with all rents, pwceeds and issues arising out of the premises,and may
<br /> in its discretion use the rents so far as rt deems necessary for the purpose of makingrepairs upon the premises and for the payment of msurance
<br /> premiums,taxes and assessments upon such premises,and for necessary expenses incurred in renting said premises and collecting rent therefrom,and
<br /> to apply same on said note and any notes evidencing fuWre advances he�eunder untii �e indebtedness sewred is fully paid;and for wch purposes,
<br /> Ihe undersigned does hereby sell, assign, set over and trans(er unto Commercial all of said rents,proceeds and incomes inciud�ng any land contract
<br /> payments due mortgage owners or any other incomes of any type whatsoever from said property to be appiied on Me notes above�described;but said
<br /> Commerc�alsfiall in no case be liable for the failure to procure tenants,to collect rents,or to prosecute actions to recover possession o(said premises.
<br /> The Martpaeors further appoint Commercial of Omaha, Nebraska, their attomey m fact, g�ving said attorney power irrevocably,eilher on�ts own
<br /> name or Mortgagors'names to Wke all necessary steps for proceedings in court or otherwise, to cause said premises to be vacated, to collect renfals
<br /> or other�ncomes due,and when vacant,to relet the same, to make al I reasonable repairs and pay taxes out of said rents,profits, contract payments or
<br /> mcomes and to do all such things either by its own officers or hy oMe� parties duly authonzed and appmnted by it. as rts agent for said 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 /> attaney may seem best,wifh Iull power of substitution.
<br /> The AlortQagors hereby agree that if Commercial either voluntanly or involuntarily becomes or is made a party ro any swt or proceeding relating
<br /> to Ihe hereinbefo�e described real esfate,or to this mortgage or said note or notes. other than a foreclosure instiWted by Commeraal,Mortgagors will
<br /> reimburse Commercial for all reasonable costs incurred by Commercial in said suii or proceeding. The Mortgagors turther agree that if the hereinbefore
<br /> destribed rCal estate or any part thereof be condemned untler the power of eminent domain, or is otherwise acau�red for a public use, the tlamages
<br /> awarded, tl�e prceeeds for fhe takinQ,and for the consideration for such acqmsition to the extent of the full amount ot the remain�ng unpa�d indebted
<br /> neas secured by Ihis mortgage,be,and ifiey hereby are.ass�gned to Commercial and shall be paid forthwith to Commetcial to be applied o�account o(
<br /> tl�e last mah�riflg ins�llments of such indebadness.
<br /> Dated tt+is—_�f�l_._____._day o!___nCtOhar._ _ ._ , �o ?j �/
<br /> NCE 0 : —__ �-•+--. �-.'C,�,�-' — —
<br /> ���{'--� Denni s J Wi l es
<br /> �`� ���,�.�.� -----
<br /> J ce K. Wi1es , �
<br /> STATf Of Nf9Ra►�CA `�'''
<br /> � CtW�1TVOF Nat] u� -- ~
<br /> , pu yWs 27th _�,of _— OC'tOb2/'___. . 19�. befae ine. a imtary piblic in and for said Couny.cersonaliy came �,
<br /> � Ms abeve-as�eA �
<br /> Oemais J. Wiies and Janice K. Wiles, husband and wife
<br /> b�we woli Y�own to b�tlie identiCal person ot perfons a6use iqme is a names are aNixed to tl�t above mortgage as grantor or granrors and they,he `
<br /> a aMe,seregily acivarled�e�e said i� ����hC.ffiGii,�oluntary act and Aeed.
<br /> wI1XESS my Ar+d a�Motariai Sesi�is day 2� NOTARY , �
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<br /> i� Notaiy Pub��c
<br /> ' My commission expires on the 29tfi �r of Z�. M 50
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