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<br /> 77• U06337 EXPANDABLE MORTGAGE
<br /> • ASSIGNMENT OF RENTS �oan No.____ 818393-9
<br /> KNOWALIMENBYTHESEPRESENTS:That Paul G. Pietzyk and Marlene A. Pietzyk, husband and wife
<br /> (hereinafter cailed the Mortgagors)m consideration of the sum ot
<br /> Thirty-Seven Thousand E1 ght Hundred and no/100--------------------Oollars(S 37,800.00--- )
<br /> loaned to Mortgagors,do hereby grant,bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br /> � Nebraska, (hereinafler called "Commercial"), its successors and assigns, the fo�lowing described real estate, situated in the County ot,
<br /> Ha i l State of Nebraska,to•wit:
<br /> East one-half (E�) of �ot five (5) and the East one-half (E�) of the
<br /> South seventeen (17) feet of Lot three (3), in Block twenty-one (21),
<br /> in Scraff's Addition to West Lawn in the City of Grand dsland, Nebcaska.
<br /> TO HAVE AND TO HOLD TNE SAME, with the appurtenances ihereunto belonging, unto Commercial, its successors and assigns,forever.
<br /> Said Mortgagors hereby covenan�with said Commercial. its successors and assigns. that Mortgagors are lawfully seized of said premises,tt�at
<br /> fhey are free from entumbrances, aad that they will forever wairant and defend the title to said prem�ses against the lawtul daims of all persons
<br /> whomsoever.
<br /> Provided,nevertheless,these presents are upon the following contlitions:
<br /> That whereas the said Morigagors as members of Commercial have th�s date executed a note evidenang such loan and agreeing to repay sa�d
<br /> sum of money, with mterest, in payments as set fath m said note and have agreed to abide by the terms of said note antl Charter and By•Laws of
<br /> Commerc�al.
<br /> That whereas this mor�gage shall secure any additional advances. with interest, which may. at the option of Commercial,be made by Com
<br /> mercial to the undersigned Mortgagors or their successors in title for any purpose.a�any Ume before the release an0 cancellaUon of this mortgage,
<br /> but PROVIDED. HOWEVER. at no time shall the aggregate pnncipal amount seared by this mortgage, bemg the amount due at any time on said
<br /> original note and any addi6onal advances made,exceed an amount edual to 110 percent o(the amount of the original note,but in no event shall
<br /> said note exceed the mazimum amount permitted by law.and PROVIDED,HOWEVER,that nothing herein contained shall be considered as hmibng
<br /> the amount ihat shall be secured hereby when advanced to protect lhe security or m accordance with covenants conlained in ihe mortgage.
<br /> Now, i( the sa�d Mortgagors shall pay or cause to be paid tlie said sums of money when due.as set forN in said note,and any other note foi
<br /> additional advances made until sai0 debt is fully paid with mterest. then these presents shall be void: otherNlse,to be and remain m full(orce and
<br /> effect; but i(default should be made:
<br /> la 1 in any of the payments due on said note, and any other note for additional advances made,as therein agreed to be made for three months, or
<br /> (bl In keeping the improvements on said premises inwred against loss by reason ot fire, �ightning, and other hazards intluded in extended
<br /> coverage insurance in an amount not less than the unpaid balance of said mortgage loan, i�a company or compaNes acceplable to Com-
<br /> mercial, Me original of such policy or policies to be held by Commercial, and with a mortgage clause attached lo said policy or polic�es,
<br /> in fawr of Commercial;or
<br /> !c) In the payment of taxes and assessments lev�ed upon said premises,or on ihis mortgage, before they are dellnquent;or
<br /> (d� If there is any change in the ownership of the real estate mortgaged here�n, by sale,either outnght or by land contract,or by assignment of
<br /> any interest thereon or otherw�se:
<br /> fhen, in any of the above set-forth events, the whole �ndebtedness hereby seared shall, at the option of Commercial,immediately hecome due and
<br /> payable wifhout further notice,and the amount due under saitl note and any other note for addiiional advances made shall,from the date of the exerase
<br /> of said option,bear interest at the mazimum legal rate per annum,and this morigage may then be foreclosed to satisfy the amount due on said note,and
<br /> any ofher note for additional advances,together with all sums paid by Commercial for insurance, Wxes,assessments and abstract ex2ension tharges,
<br /> wilh interest tfiereon from the date o(payment al the maximum legal rate.
<br /> PROVIDED that m no event, either before or after default shall the mterest due un0er said note and this mortgage and any other note for ad
<br /> ditionai advances made exceed the maximum lawful interest rate.
<br /> PROVIDED, further,that in the event that tle(ault occurs in the making of the payments due on said note,and on any other nole for additwnal
<br /> advances, as theiein agreed to be made. or in keeping the prenuses insured. as above prov�ded,or if default be made in the payment of the taxes
<br /> or assessments Iev�eO upon the premises above described or upon this rnortgage, betore they are by law delinpuent, Canmercial shall be entitled
<br /> to the immediate possession of the premises above describetl. together with all rents. proceetls and �ssues arising ou�of the premises,and may
<br /> in its discretion use the rents so fai as it deems necessary tor the purpose of making repairs upon the premises and foi the payment ol insurance
<br /> premiums,taxes and assessments upon such premises,and for necessary ezpenses inarred m renting said premises antl collecting rent iherefrom,and
<br /> to appty same on said note and any notes evidencing future advances her�nder until the indebtetlness seared is fully paid;an0 for such purposes,
<br /> the undersigne0 does hereby sell. assign, set over and transfei unlo Commeraal all of sa�d rents,proceeds and incomes including any land contract
<br /> payments due mortgage owners or any otfier incomes ot any type whatsoever from said property to be applied on the notes above-Gescribed;bat said
<br /> Commcrcial shall�n no case be Ilable tor the failure to procure tenanls, to col lect rents,or to prosecute actrons to recover possession of said premises.
<br /> The Mortgagors further appoint Commerual of Omaha, Nebraska. their attomey in fact, giving said attomey power urevocabty,eiNer on its own
<br /> name or Mortgagors'names to take all necessary sleps for proceedmgs in court or othe�wise, to cause said prem�ses to be vacateC.to collec!rentals
<br /> or other incomes due,and when vacant,to relet the same, to make all reasonable repairs and pay taxes out ot said rents.Drofits,contract payments or
<br /> mcomes and to do all Such things eithe�by its own officers or by other parGes duly authonzed and appointed by it,as�ts agent for sa�d puryose.and
<br /> to charge or pay a reasonable fee for such serv�ces,all oi the above to be done at wch t�mes anG in such mannei antl on such 12rms as to their said
<br /> attorney may seem best,wifh full power of subsGWtion.
<br /> The Mortgagors hereby agree that if Commeicial either uoluntanly or involuntanly becomes or is made a party to any swt or proceeding ieiating
<br /> to ihe herembefore described real estate, or to lh�s mortgage or said note or notes, other than a foreciosure insUtu�ed by Commercial. Mortgagors will
<br /> reimGurse Commercial for all reasonable costs incurred by Commercial in sa�d suit oi p�oceeding.The Mortgagois turthe�ag�ee that�f the herembefore
<br /> descnbed real estate or any part thereof be condemned under the power of enunent domain, oris otherwise acQuired for a public use, the damages
<br /> awarded, the proceeds for fhe taking,and for the consideration for such acqwsiUon to the extent of the full amount o(the remaimng unpaid mdebted
<br /> aess secured by this mortgage, be, and they hereby are,asSigned to Commeraal and sfiall be paid torthwith to Commercial to be applied on account ot
<br /> the last matunng installment5 of such indebtedness.
<br /> Osted�is— 27th__—_�a�.�r_ OCtoher �� 77 �
<br /> ____ ._ .__-_
<br /> IN OF:
<br /> ��� ,
<br /> � Pau G. Pietzyk - --_..__ ________--_
<br /> �
<br /> �� �- �--���=-
<br /> � �-
<br /> --- �
<br /> � _�,��� , �.
<br /> -- _
<br /> — Mariene A. Pietzyk _ �
<br /> STATE Of N£8ftA5KA �
<br /> COUN�Y OF Hal l ss. - -----_ _ � :
<br /> � 0� Y�is____—��_____ �v ot OC�O�P l0 77 �fae me a noUrv pubhc in antl for sa�d CounN cersoaa!iv came ���
<br /> Mie aboae-named � �
<br /> Paul G. Pietzyk aed Marlene A. Pietzyk. husband and wife
<br /> to ioe Well known b 6e tl�E ideetital petson or persons W�ose wn+e is m nsmes are atfixed to M�e above mortgage as grantor or grantors and they,he �
<br /> ot SAe,seuenlly ackna�rtedQe the said i�slru �� tary act and deed.
<br /> NqTNESS ny hand and Nofa�ial Seal l��s Q�y and ve r� �TA#Y �- G�� ,
<br /> 1�OF�/RI�A '.��r`'e!?�� ,.,�F�-�-,.�f:/
<br /> � 1�7'� N ry ubl�r I
<br /> My to�mission expires rn the 29th y o u . _. . __. M 5i: �
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