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<br /> 77-U06327 EXPANDABLE MORTGAGE
<br /> ASSICsNMENT OF RENTS Loan No. 818363-8
<br /> KNOWµ11/EN BY THESf PRESENTS:�hat LuAnri BOar�nan, a single person
<br /> (hereinaRer called the MortQagors)in consideratioo of the sum of
<br /> Tw�enty Thcwsand sevan Nundred and no/I00__________________________Da�ars(S 20 700.00----�
<br /> � lwwed to Morly�go►s,do haeb�gnnt, bx�un seU and convey unio COYAIERCIAL FED£RAL SAVINGS AND LOAN ASSOC�ATION of Omaha,
<br /> Ne��sk�. (liereintl�er CaAed "Com�aercisP'), ds successors and assians, the lollowing described real estate, situated in the County of,
<br /> Ha 11 State of Nebnska,toivit:
<br /> Nortl�rly one-third (N1/3) of Lots four (4) and five (5) in Block
<br /> fourteen (tA) i� Schimmer's Addition to the City of Grand ISland,
<br /> Hall County, Nebraska.
<br /> TO HAVf AND TO HOLD TNE SAAIE, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns,forever.
<br /> Said Mortgagors hereby covenant with said Commerclal, its successors and assigns, that Mortgagors are lawfully seized of said premises,that
<br /> they are free froen�cumbrantes, and Mat they will forever wanant and tlefend the title to satd piemises against the lawful claims of all persons
<br /> whomscever.
<br /> Provided, nevertl�etess, these presents 2re upon the followmg con0ifions:
<br /> That whereas the said Mortgagors as members of Commercial have this date exeated a note eviCencing 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 ihe terms of said note and Charter and By•Laws of
<br /> Cominercial.
<br /> That whereas this morlgage shall secure any additional advances, with interest, which may,at the ophon of Commercial, be made by Com•
<br /> mercial to the undersigned Mortgagors or their successors in t�tle for any purpose, al any time before the release and cancellation ot this mortgage,
<br /> but PROVIDED,HOWEVER,at no time shall the aggregate pnncipal amount secured by this mortgage,being the amount due at any time on said
<br /> oriQinal note and any additional advances made. ezceed an amount eQual to 110 percent of the amount of the ongmal note,but in no event shall
<br /> said note exceed Ihe maximum amount permitted by law, and PROVIDED,HOWEVER,that nothing herein contained shali be considered as limiting
<br /> fhe amount that shall be secured hereby when advanced to protect the security or m accordance with covenants containetl In the mortgage.
<br /> Mow, 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 aoy other note for
<br /> OAditional advances made until said debt is fully paid with mterest, then these presents shall be void;otherwise,to be and remain in full force and
<br /> effect;but if default should be made:
<br /> (a) In any of ihe payments due on said note,and any other note for additional advances made,as therein agreed to be made for three months,or
<br /> (b) In keeping the improvements on sa�d premises insured against loss by reason of fire, lightning, and oMer hazards included in extended
<br /> coveraQe msurance in an amount not less than the unpaid balance of said mortgage loan, in a company or companies acceptabte to Can-
<br /> merCia�, the aieinal of such policy or policies to be held by Commercial. and with a mortgage clause attached to saiG policy or policies,
<br /> in favor of Commercial;or
<br /> (c) In the payment of taxes and assessments Iev�eU upon sa�d premises,or on th�s mortgage,before they are dehnpuent;or
<br /> (d) If ihere�s any chsnee in the ownership of}he rea� estate mortgaged herein, by sale,either outnght or by land contract,or by assignmeat of
<br /> �y iaterest M�ereon or otl�erwise;
<br /> then, �n amy of fhe above set•forth evants, tlie whole indebtedness hereby searcd shall, at the option of Commercial,immediately become due and
<br /> payabie without furtl�er notice,and the amount due under said note and any other note for addi tional advances made shali,from the date of the exercise
<br /> of said option,bear inferest at the maximum legal rate per annum.and this mortgage may then be foreclosed to satisfy the amount due on said note,and
<br /> any olher no�e for additional advances, togethe+with all sums paid by Commerual for insurance, taxes,assessments and abstract extension charges, �
<br /> riM interesi q�ereon fran iht dale of payment at tl�e maximum legal rate.
<br /> P�'tOVIDfD Ihat io no eVent, either before or after default, shall Me interest due under said note and this mortgage and any olher note for ad
<br /> d�Nonal advantes made exceed the maximum lawfulinterestrate.
<br /> ; PitOV10ED,further,tl�at in the event that default occurs in the mak�ng of the payments due on said note,and on any oMer no�for additional
<br /> sdwndes,.as tlierein agreed to be made, or in kceping Ihe premises insured, as above provided,or ii default be made in Ihe payment of�e qxes
<br /> or assessme�ts levied upon the premises above described or upon this mortgage, betore they are by taw delinpuent, Commercial�alt be entitled
<br /> to tl�e immediate possession oi 1he premises above described, together with all rents, proceeds and issues arising out of Me piemises,and may
<br /> in its dscreGon use the rents so fai as it deems necessary for lhe purpase of makmg repairs upon ihe premises and for the payment of insurance
<br /> prea�iums,laxes aiW assessments upon wch prdnises,aad for necessary expenses incurred in rentmg said premises and collectin�rent therefrom,and
<br /> to appfy same on said note and any notes ev�4encinQ future a0vances hereunder unti� fhe indebtedness secured is fully paid;and for wch purposes,
<br /> Me unAersi�ned does he�eby sell,assi�, set ouer and tiansfer unto Commeraai al I of said rents,proceetls and mcomes including any tand contract
<br /> p�yments dua mwt�a�e owners or any other mcomes of any type whatscever from sa�d property to be applled on the notes a6ove-described; but said
<br /> Cosmerti�l shali i�no case be liable tor Me failure to proare tenants.to collect rents,or to prosecute actions to recover possession of said premises.
<br /> 11k Mort��ors furUier appomt Commercial of Omaha,Nebraska, their attorney in fact, g�ving said attorney power I«evocabfy,either on its own
<br /> na�ae w Mmt�a�as'eames to take all necessary steps foi p�oceedings�n court or otherwise, to cause said premises to he vacated,to collect renfals
<br /> a oMer incprxes d�e.end when vacent,to relet the same, to make all reasoriable repairs and pay 2axes out of said rents,profits.contract payments or
<br /> iecomes�nd to do all such Ihie�s eilhe�by Ifs own otficers or by other parties duly authorized and appomted by it,as its apent for said purpose,and
<br /> to dfar,e or pay a reasonaWe fce for such serwces,all of the above to be done at such times mC in such manner and on such terms as to their said
<br /> �ttomeY nuy seea+Oest,rilM full power of wbstitution.
<br /> 11u Yortp�Ors hereby a�ee ihat if Comme�cial e�ther voluntanly or invaluntanly becomes or is maCe a party to any suit or proceeding relatmg
<br /> to MB hersinbefore described roal estate, or to this mortQage or safd note or notes. other Ihan a foreclosure Ins6tutetl by Commernal,Mortgagors w��l
<br /> reiinsurse C��a�prcisl for aU reasonable costs incurretl by Commernal m sa�d wit or proceeding. The Mortgagcrs further agree that it the herembefore
<br /> destnbed reai estate a any pert thereof be condemned under the power of eminent domain, or is otherwise acpuired for a public use, the damages
<br /> �rq�rded. Me Wocee65 far Ifie hkipg,and for tAe consideratim�or such acqu�sitim to the extent of the full amount of Me remaining unpa�d indebted�
<br /> Aess fetwed br lAis aartpa�e, be, and they hereby aro, assi�eC to Commercial and shall be paid fortl�wiM to Commercial to be apphed on account of
<br /> Ihe last msh�ri�installments of such indebtedaess.
<br /> Ooted tlr�s 2�►+ �y,,( October_,iy".
<br /> �` /�AE'dE1�bG€O�� ���,2s` ��t�c�iL-ti..�^.--- ---
<br /> �� � LuAnn Soar�nan ;
<br /> �
<br /> ar��a���u -- .. _�°''
<br /> CidtlN�'v UF ti�11 `�' — ---- J
<br /> �1�it ��l___ �y Of aGtiOblP m 77 , bG10tE mG,a nGi2:Y P�GLC �n�nd fot sa�d Cuualy,Vnrsa�aiiy�anre : w,�
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<br /> j.Y�11�1 ���11� i f 1 Ae��! �!1'S�
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<br /> �� s�rMa�e�s is a+w�es are aff�red Eo tl�e above mortgage as grontor or grantors and they.he
<br /> wll�f. ad�j�� !Mlr�tlNwet.b be Meir wlunhrv act and deed.
<br /> M'1f1ES5 � ' /
<br /> latt abeve�itten.
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<br /> Myee�ttione�tptesoaY�e—�=--�Ye#,��1'YL'__ �, NotaryPubl�c _
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