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<br /> 77 UU632� EXPANDABLE MORTGAGE
<br /> ASSIGNMENT OF RENTS Loan No. 818413-9
<br /> KNOWAL�MEN BY THESE PRfSENT$:That fiarvey M. England, Jr.. and ��Cpnni M. England husb nd and wife
<br /> (here�nafter caNed the A�ortgagors)m considerotion o�the sum of
<br /> � Thirty Seven Tho sand Seve� Nur►dred and no�100-------------------- Dollarsls37 7pp pfl _ �
<br /> I�aa�l 6o Yor�ora, do�qrant,bary�in, setl asd wrtvey un COYMERCtAL FEDERAL SAVINGS AND LOAN ASSULTIATION o�Omaha.
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<br /> N�iqski, (harein�fter qtled " me�ercial"), its successors and assi�ns, the foNowinQ described real estate, situated in the County of,
<br /> Md�� St�e of Nebraska,to-Wit:
<br /> Lot eleven (11) i� Argo Third Subdivision, Viilage of Alda, Hall County, Nebraska.
<br /> TO NAVE AND TO HOLD THE SAME, wi}h the appurtenances thereunto belonging, unto Commercial, Its successors and assigns, forever.
<br /> Said blortgapors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfuily seized of said premises,fhat
<br /> tloey aro frce from encumbrances, and that tl�ey will forever warrant and defend the title to sald premises against the lawful claims of all persons
<br /> whumsceWer.
<br /> Provided,nevertlfeless,tl�ese presents are upon the following conditionr.
<br /> That whereas the said Abrigagors as members of Commeraal have thls date executed a note evidencmg 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 teims of said note and Charter and By•Laws of
<br /> Commercial.
<br /> That whereas this mortgage shall secure any addit�onal advances, wifh interest, which may, at the option of Commercial,be made by Cam-
<br /> mercial to the undersigned Mortgagors or their successors m title for any purpose.at any time Oefore the release and cancellation of this mortgage,
<br /> but PROVIOED,HOWEVER,at no 6me shall ihe aggregate princ�pal amount secureA by this mortgage,being the amount due at any time on sald
<br /> origfeal note and any addi6onal advances made, exceed an amount edual to 110 percent of the amount of the original note, but in no event shall
<br /> saitl note exceed the maximum amount permitted by law,and PROVIDED.HOWEVER,fhat nothing herein confained shall be considered as timiting
<br /> the amount lhat shall be secured hereby when advanced to protect the security or in accordance with covenants conta�ned In the mortgage.
<br /> Now, if tfie said Mortgayors shall pay or cause to be paid the sa�d sums of money when due,as set forth in said note,and any oU�er note for
<br /> �dd+tianal advances made until said debt is fully paid with interest, then these presents shall be void;otherwise,to be and remain in full force and
<br /> effect;but if default should be maAe:
<br /> lal In any of the payments due on sald note,and any other note for additional advances made, as therein agreed to be made for�ree months,or
<br /> (h) In keeprng fhe improvements on said premises insured againsf loss by reason of fire, lightaing, and other hazards included in extended
<br /> coverage insurance in an amount not less than the unpaid halance of said mortgage loan, in a company or companies acteptable to Com-
<br /> mercial, the origiaal of such pollcy or policies to be held by Commercial, and with a mortgage clause attached to said policy or policies,
<br /> in(avor of Commercial;or
<br /> , (cl In tfie payment of taxes and assessments levied upon sa�d premises,or on this mortgage,before they are delinquent;or
<br /> (d) If there is any change in the ownership of the real estate mortgaged herein, by sale,either outrighl oi by land contract,or by ass�gnment of
<br /> any interest tl�ereon or olherw�se;
<br /> Men, in any of tbe above set-forth events, the whole indebtedness hereby sewred shall, at the opiion of Commercial,immediately 6ecome due and
<br /> payable wi�out further notice,and the amount Cue under said note and any other note for additional ativances made shall,from the date of the exercise
<br /> of said option, bear Interest at the maximum legal rate per annum,and this morigage may then be forecl osed to saUsfy the amount due on said note.and
<br /> ar�y od+er note fa additional advances, togel�er wiM all sums paid by Commerc�al for insurance, taxes,assessments and abstract eztension charges,
<br /> with interest tl�ereon from the date of payment at the maxlmum legal rate.
<br /> PROY10fD tl�at m no event, either before or after default. shall the �nterest due under said note and thfs mortgage and any ofher note for ad�
<br /> d�Gmal advances made exceed the maximum lawful interes�rate.
<br /> PROVIDED,furlher,that in the event that default occurs m t�e making of the payments due on sald note,and on any ather note for additimal
<br /> advances, as therein agree0 to be made. or �❑ keeping the premises insured, as above provided, or if default be made in the payment of the faxes
<br /> or assessments IeweC upon the premises above descnbed or upon th�s mortgage, before they are by law delinquent,Commercial shall be entitled
<br /> Eo ihe immediate possession of the premises above-describetl, together w�th ail rents, proceeds and issues arismg out of ffie premises,and may
<br /> in �ts disuetion use the rents so (ar as it deems necessary for the purpose of making repairs upon the premises and for the payment of insurance
<br /> prem�ums,faxes and assessments upon wch premises. and for necessary expenses incurred in renting said premises and collecting rent therefrom,and
<br /> fo apply same on said note and any notes evidenting fuWre advances hereunder unt�l the mdebtedness secured is fully paid;and for such purposes,
<br /> Me unders�gned dces hereby sell. assign, set over and transfer unto Commercial all of said rents,proceeds and incomes including any laod contract
<br /> payments due mort$ege owneis or any other incomes of any rype whatsoever from sa�d property to be apptied on the notes above-described; but said
<br /> Commercial shall m no case be liable fur the failure to procure tenants,to collect rents,or to prosecute achons to recover possession of sald premises.
<br /> The MortQagors further appoint Commercial of Omaha. Nebraska, their attorney in fact, giving sa�d atMrney power irrevocably,either on Its own
<br /> name or Mortgagors' names to take all necessary steps for proceed�ngs in court or otherwise. to cause said premises to be vacated.to collect rentals
<br /> a oiAei incomes due,anG when vac�t,to relet the same, to make all ieasonable repairs and pay taxes out of sald rents,profits, caatract payments or
<br /> incomes and lo do all such ffiings eitl�er by its own officers or by other parties duly authorized and appointed by�t,as its agent for sai0 purpose,and
<br /> to charge or pay a reasonable fee for such serwces, all oi the above to be done at sucfi times antl m such manner and on such terms as to thelr said
<br /> ait�ney may seem best,with full power of subshtution.
<br /> The Mortgagors hereby agree that if Commemal either voluntanly or�nvoluntarily becomes or is made a party to any surt or proceeding relating
<br /> to M�e hereinbefore desaibed real estate. or to this mortgage or said note or notes, other than a foreclosure instituted hy Commercial.Mortgagors will
<br /> rei�nptuse Canmercial foi all reasonable costs�ncurred by Commeraai in sa�d wit or proceeding. The Mortgagers further agree that�f the here�nbetore
<br /> desCnhed real estate or any part tfiereof be cpndemned untler the power ot eminent tlomain, or is otherwise acQuired for a public use,the damages
<br /> awardeE. IMe proceeds for the faking,and for the consideration for such acqwsition to the extent of tfie full amount of the remaining unpaid indebteG-
<br /> ness secured Cy fh+s mortQage,be.and Mey hereby are,ass�gned to Comme�cial and shall be paid torthwith to Commercial to be app6etl on account of
<br /> the last maWnng�nstallments of such indebtedness.
<br /> D�bdtl+is---29th----_dayof----October _, 19..�.�_ . „
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<br /> TFiE P ENCE OF. ,,.�– �
<br /> ��6'�-�� Harvey M. Engl d, Jr— ------
<br /> ���%��''� ---,�
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<br /> Co�-L�t.c� rn . �����r y-� ,. -,,
<br /> - — - Connie M. England c7
<br /> STAT£Of N£�RA9KA �
<br /> GOUi1TY QF BUffilO �' —
<br /> On Mtis.---.--���l._.d�y of ._ ____Q���_____ . 19 jL, befnre me, a notary pubhc in and for said County.personally came a�,��,
<br /> IMe a6ore-na�ed
<br /> Harvey N. Englard. Jr. and Coanie 1t. Lng7and, husLand and wife - �>" ✓
<br /> te rt+e we��Mnow�to be tl�e idenGql person or persons whose�ime is or n�nes a+'e affiaeA to the above mort�ge as grantor or grantors and they,he
<br /> a sbe,xverally acicnoiwladee tl+e said ins ��;y�y�r�luntary�t�+d deed.
<br /> 471Tf1r�- � _
<br /> �ITN£SS my hant!and NoUrial Ses!this day t a��� pOIA� ; • _ / '
<br /> �MI� � .s4/+�s� `'.G°':�� -�_.! �
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<br /> My comm+ss�on eapues on the_ 29'th Notary Public
<br /> —day of Sentpr�Mr ,__, lg _z9. M 5U
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