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<br /> 77-U(�G323 EXPANDABLE MORTGAGE
<br /> ASSIGNMENT OF RENTS loan No. 818396-3
<br /> KNOW ALL YEN BY THESE PRfSfNTS:Th�i Caaeron Fox and Ruth E. Fox, husband and wi fe
<br /> (hereinafter called the Mwtpa`ors>in conaiderafion of the su�n o(
<br /> Thirty-Se+ren Thousand Nine Hundred and no/100--------_____________p��s(S 37 900.00--- )
<br /> ] toined W Mlort�stors,do here6�r arsnt,bar seY anA convey euito COYMERdAI FEDfRAI SAYINGS AND LOAN ASSOCtATION o(Omaha,
<br /> pun se
<br /> � Mebnalu. (herei�uutter caped "Conimerci�l"), +ks successors and assigns, the fdbwin` described real estate, situsted u� the Couniy of,
<br /> He 1] Shte of Nebmka,toarit:
<br /> Lot forty-three (43), in Wolfe's Subdivision, in the City,of Grand Island.
<br /> Hall County, NebrAska.
<br /> TO HAYE ANO TO HOLD THE SAME, wilh the appurtenances thaeunto belonging, unto Commereial, its �cceswrs and assigns,foreve�.
<br /> Said I�rtgagors hereby corenant with said Commercial, its wccessors and assigns. that Mbrtgagors are lawtulty seizeC of sald premises,that
<br /> Ifiey aro frce from encumbrances, and that U�ey will forever warrant and defend the title to said premises agains!the lawtul claims of all persons
<br /> whansoever.
<br /> Provided, nevertheless, these presents are upon the following conditions:
<br /> 7iut whereas Mie said Abrtgagors as members of Commercial have this date executed a note evidencing such Iwn and agreeing to repay said
<br /> wm of money, wilh interest, in payments as set forth in said note antl have agreed to abide by tl�e terms of said note and Charter and By-Laws of
<br /> CommerciaL
<br /> That whereas this morteage shall secure any a0di6aial advances, with interest. which may, al the option of Commercial.be made hy Com-
<br /> mercial to the undersigned Mortgagors or their successors in title for any purpose,at any time before the release and cancellation of this mort¢age,
<br /> but PROVIDED,HOWEVER, at no time shall fhe aggregate prmcipal amount secured by Ihis morigage,bemg 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 fhe origmal note, but in no event shall
<br /> said note ezceed the maximum amount permitted by law,and PROVIDED.HOWEVER,that nothing herein contained shall be tonsideied as Iim�Ung
<br /> the amount lhat shalt be secwed hereby when advanced to protect the secunty or in accordance with covenants contained in tl�e mort�aQe.
<br /> Naw, if the said hbrtgagors shall pay or cause to be paid the sa�d sums of money when due,as set for�ie said note,and any other noQe for
<br /> additional advances made until said debt is fully paid wilh interest, then these presents shall be vo�4 ofherxise, to be and remain in full force and
<br /> eftett;but if default should be made:
<br /> (al In any of the payments due on said note,and any oUer note for addihonal advances made,as therein agreed to be matle for three monlhs,a
<br /> (b) In keeping the improvements on said premises msured against loss by reason of fire, lightning,and other hazards included m extended
<br /> coverape msurance in an amount not less than tice unpaid balance of said mortgaQe loan, in a company or tompanies accepta6le to Com�
<br /> mercial, the original af wch policy w policies to be held by Commercial, and with a mort�age clause at�ched to said policy or policies,
<br /> in favor of�ommercial;or
<br /> i
<br /> (c) In ihe payment of taxes artd assessments levied upon said prem�ses,or on this mortgage,before�hey are delirpuent;or
<br /> (d) If ihere is airy change in the ownersh�p ot Ihe real estate mortgaged herein, by sale,either outright or by land contract,or by assignment of
<br /> aoy ieferestfhereon or olherwise;
<br /> tlron, in a�yr of tl�e ahpve set�forfh events, the whole indebtedness hereby secured shall, at the option of Gammercial,immediatety becane due antl
<br /> paya4lt wi�Wut fur�er notice,and the amant due under said note and any other note tor additional advances made shall,from tl�a date of�e exerwse
<br /> o#said option,bear in6erest at du mazimum legal rate per annum,and tl�is mortgage may lhen p¢foreclosed to satisfy tl�e amant due on said note,and
<br /> any o1Mr no6e for additional advances, togelher with�JI sums paid by Commeraal for insurance, Wxes,assessments and abstracf extens�on charaes,
<br /> wiM interest thereon from ihe date of payment at f�e maximum legal rate.
<br /> PftOVIOED Ihat in no event, either before or after default, shall the interest due under said note antl this mor�age and any other note for�d-
<br /> diEiaasl�dvances made exceed Ihe mazimum lawfulinterest rate.
<br /> ` PRpUIDED,furlher,that in Ihe event that default occurs in the making of the payments �e on sa�d note,and oe any otl�er rtote br additional
<br /> � advances, as tlierein agreed to be made, or in keeping tfie premises insured, as above provided,a ii defaull be made in the pay�aent of tl+e faaes
<br /> a assessments lewed upon the premises above described or upon this mortgage, before they are by law defirtqud+t, Cammercial shall be entitled
<br /> to tfie immediate possession of tl�e premises a{wve-described, together with all rents, proceeds and issues arising out ol the premises,and may
<br /> , io its discretion use Me rents so far as it deems necessary for the purpose of making repairs upon the premises and lar the payment of insursnce
<br /> preieiwas,fazes and assessments uypn sudi pranises,and for necessary expenses Incurred in rentinQ sald premius and collettinQ rent therefrom,and
<br /> to appfy a�ne on saiA note and any notes evidencing future advances hereunder until Ihe indebkdness secured is fu11y paid;aiW for wch pu�poses,
<br /> 1M unAersi�ned does hereby sell, assiEn, set over and tronsfer unto Commercial all of said rents,proceeds aiM inco�es inclutline any land conhsct
<br /> pty�nentS due mwtOsge owners or any otfier incomes of any type whatsoever from said prpperty to pe applied on 1he notes above-described;hut said
<br /> CanmerCial shall io no case be liable for Me(ailure 6o procure tenants,lo collecl rents,or to proseate acUons to rccover possession of said premises.
<br /> The 1brt�agors furtl�er apppint Canmercial of Omaha, Nebraska, their atWrney in tact, giwng said attorney power irrevocably.either on�ts own
<br /> y
<br /> n�or Mort�egors'names to take all neceSsary sleps for proceedings�n court or otherw�se,lo cause said Dremises Ep be vacated,to collect ren}sis
<br /> a olMer intoa�es due,and when vacant,to rekt Ihe same,to make al I reasonable repairs anC pay Wxes out of said rents,prohts,contract payments or
<br /> iacoa�es and to do alI such lhints eifher by ifs own oHicers or by otl�er parNes duly autlwrized and appninted by it.as its agent for said purpose,arid
<br /> to char�e or pay a�easonable fee for wch urwces,all of tl�e above to be tlone at such times and in such manner antl on such terms as to their sa�d
<br /> attamey may seem ptst,wil�futl powei of w�UA�lion.
<br /> 7Ne Abrt�igas i►ereby agree pfat it�pinmercial eilher voluntarily or involuntarily becomes or is made a party ro amr w�t or proceeding re�ating
<br /> to�e herein6efora describod real esbh, or to Ih�s mortgage or said note or notes. olher Ihan a foreclosure instiWEeO by Commercial, bbitgagors wi II
<br /> raiaihurse Coinmercial for al!reasonable c�ts incwred by Cpmn�ercial in sa�E swt or proceeding. The OAortgagors further agree Ihat if the here�nbefore
<br /> describe�f resl estate or any part lhereW be condemned untler the power of eminent domain,or Is otherWise acpuireA tor a public use.Me damages
<br /> awtsed.�e praeeds for Ihe bkine,and for Ihe coasidention fa such acauisitim to of tl�e full amount of the remaining unpaid in0ebted-
<br /> �st secured b�'tlus�no+taa�e, be,aed tlby hereby ara,assi�eA to Comnaeraal and be pe forlbwith to Comn�erual M be appl�ed on account of
<br /> we last msWring iaatallments pf wch indebtedness.
<br /> OtYd 11Ns �.�_d�y of dete�r ---,19�__.
<br /> tN�1£PA'ESE11C£Of:
<br /> F x ---- �
<br /> Ru . Fox � �
<br /> STA�E O#'N�(�► �
<br /> CA11�117Y QF /�a J/ ss.
<br /> ����~~ �!'� Q� 1!�I,be#e�e Me, a notsry public in anC tor said County,personalty came ^
<br /> �n 7L�t c�nn�d rP+..I� F. �e�r ... �,
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<br /> f/�twN1 kM�w b M�M►idMYtail OM�or prae�s w�s�q�e is or aM�s�re Nfired!�Ihe aYove morty�se as gsantoi or grantas an�they,he
<br /> at y1M.aNNatly�1 Mt fail' tuy act�nd deed.
<br /> N1f1E�5 eA'Iw�a�1 Nstirial 3rN�dyr �K �
<br /> � ��� � �� j
<br /> �M Notary Publ�c --- ___--- J
<br /> My c�wission e�iros mi!b_____ O�y af ,l9�. M.�
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