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<br /> 77' OOFiSSO EXPANDABLE MORTGAGE
<br /> ASSIGNMEN'f OF RENTS �oan No. 43740-7
<br /> KI�N All YEN 8Y TMESf PRESENTS:ih�t Michael J. Notan and Darlene E. Nolan husband and wife
<br /> (hereieafter called tbe MortQaQors;in consideration oi tfie sum of
<br /> ��orty-Eight Thousand Ei ht Hundred and no/100--------------------- poNars(S48 800:00--- 1
<br /> � laweed b Me�rl�s,do �r�,. seM ad cowrey uelo COINlERCJAL FEOERAL SAYtNfiS AAIO LOAN ASSO�IATfON of Omaha.
<br /> Nebratla, dMeremtN�r arrd� "Co�i�ita aucussors snd assqns, die faMorin� described real estate. situated in the CouMy ot,
<br /> Hrt 11 SfNe of Nebeasl�.�wit: a
<br /> lat �e (]) in Spelts-Schultz Addition to the City of GranG Island,
<br /> Natt County, t�lebraska.
<br /> , TQ HAV'E AND TO HOLO 1HE SAYf, witl� the appurtenances tfierwnto belonging, wto Canmercial, its successors and assi�s, (orever.
<br /> S�i�Mor�gsus hereby covenant wilh se+tl Commerciat, its successors and assi�s, tMat Mort�gors art lawfulry seized of said premises,Maat
<br /> Ihey Ne free iraa enc�umMances, aad that tlaey will faever warrant and defend the title to safd premises against ffie lawful claims of all peisons
<br /> whemsaever.
<br /> Provided, ne+rerMeless, ffiese presents are upon tl►e following conditions:
<br /> , Thtt wAs�ets tl�e said Abrt'eQors as members of �ommereiaf have fhrs date ezecuted a noh eridencing such loan and agreeing d�roDaY said
<br /> wm ot money,with interesL, in payments as set forth in said note and have agreed to abide by the terms of said note aod Charter and B/•Laws of
<br /> CaMnercial.
<br /> Tht! wd�erees this mortp,age shall seare any additional advances, with interest, wlfich may, at the opGon of Commercial,be made by Com-
<br /> inertiel 1p�e unde+signed AlortgaQors or Mieir successors in title for any purpose,at any time before the release and cancellation of ihis mor�ape,
<br /> but PROWUEO,HOWEVER, at no time shall the aggfeeate principal amouet secured by mis mortgage,bemg tlse amount�e at any time on said
<br /> ori�na! nnte anE any aAditionai advances made, exceed an amwnt eQual to 110 perceot of the amount of the oriQinal note,Iwt in no event shall
<br /> ssid wfe exceed tlie mazimum amount permitted by law,and PROVIDED,HOMffVER,ihat nolhing herein conlained shall be conudered as limiting
<br /> Ne an�ant �al �all be secured hereby when advanced to Drotect fhe searity or in accordance with covenants contained fa�e n+ortgage.
<br /> Aloir, if the saiA Yort��ors shall pay w cause to be pa+d the said wms of money when�e,as set forlh in said note,and any o�+er nole for
<br /> addidonal edvsnces made urtt�l said tlebt is fully paid wilh interest, then fhese presents sha�l be void;otherrise,to be aed remaia ia tull forte and
<br /> effect;but if default should 6e made:
<br /> (al In any of tlie payments due on s�id note,and any other note for additional advances made,as there�n agree0 to be made fo�tAree monlhs,w '
<br /> (b) In keepinp Ehe i�ovements on sa�d prem+ses inwred against loss by reason o( fire, Il�tning, and otl�er hazuds ieciuded In extended
<br /> covera�e inwrance in � aiaount not less than tfie unpaid halance o( said mortgage loan, in a company or caapaeies acceptable to Com-
<br /> mercial, �ori�inal of wch pollcy or policies to be held by Commercial, and with a mortgage clause attached b said policy or policies,
<br /> in hra of�onanercial;or
<br /> (c) In the pfyment of�ea and assessmenls levied upon said premises,u�on this mortgage,before tl�ey are delinpuent;or
<br /> (d) I(tl�ere is my duaQe in the ownership ol M�e real estate mortpaQed qcrein, by sale.eitl+er outright or by laod conbact,or by assienment of -
<br /> �ny iatxast Nereo�or otlienrise;
<br /> �, ia any �tlie abowe Set-farffi erents. the whote indebtedsess hereby secwed shall, at the option of Commerciat,immediately becane due aad
<br /> p�y�le wiyaut turtl�er notica,xod the amount due unde�sald note and any olher nofe for adtlitional advances made shal�,hom tl�e date of Ne enercise
<br /> er
<br /> of said optian,bex Inkrost s41he maui�aum le�el rata per armum, a�d Ihis�aortg�age raay Men pe foreclosed io satisfy M►e a�nouat due oa said nete,a�M
<br /> aiy MAer noM for addidanal advmues, IoQeM+er with all sums paid by Commercfal for insurance, fazes,assessments and abstract eziension diarges,
<br /> w�1h inberest tlbrsoe fran tl�e date of payment a!the maximum le�al rate.
<br /> PROWOED tlu!in no event, eifqer before or af�defwtt, shall the interest due u�er said notc and this mortgage and aay og+er note for ad-
<br /> �donal sdvances made ereceed tl�e inaxlmum tawiul interest rate.
<br /> PAOVIpEp,prrp�er, tl�t m the e+�ent that default occurs iw the making of the payments due on said note,and rn any otl�er note fot additionel
<br /> i sdances, as ffierein aareed to be�, or �n keeping Ihe premises insured, as above provided,or i(�fsult Ge�ade in 1ib pnyment of tlMe pxCs
<br /> s o� �ssessments bwed upon ffie prem�ses aboue described a upon Ihis mortgage, befae fAey are by la�r delinpuent, Com�sercial sAalt 6e entitled
<br /> fp qie im�aediate possess�m of Nie pemises above-describCd, together with alI rents, proteeds and issues arisine out of!he prdnises,aad m2y
<br /> ai iRa discmtion ute tl+e roats so far as it deems necessary for the purpose of makinQ repairs upon Me premises and fa the payment ot insurance
<br /> pesfua�s,tia�and ass4ssments upon sud�prsmises,and for neeessary efepenses inarred in�entinQ said premiscs and collectin=reat fheretrom,and
<br /> 1e apply sinie m said eote and any noks evidencing fufurc adwnces hueunder until the indebtedness secured is fWly paid;and(pr sutli purppses,
<br /> �e W�Aetsiped does heraly sell,asalan, set over and transfe�ento Commercial all 01 said rents,procee4s m�d incomes ipcludine aay land contract
<br /> m�
<br /> MY*M!s due Aat/��e owners or my ofher ineomes of any type whatsoever from said property to be applied on the rroles asove,destri6ed:pul s�id
<br /> fbam�rcialsAsilin no case 6e liablt for Ihe faiture to procure tensnts,to collect rents,or to proseak acfions fo recover possession o!said premises.
<br /> Tbe fbrfp�ors turlhe+tppoiet Coinmercial of Omaha, Nebnska, the�r atbmey in fact, giving soid atbmey power irrevacabty,eiMer on its own
<br /> ntme a Yortp��an'n�oes to take all necessary steps for praeediaps in court or oqrerrise, W cwse said premises b l+e vscated,b collect renlsls
<br /> o�ower�ncewcs due,a�d wMee vacant, to rekt the same,to make all rrAsonaOle reyairs and pay taxes ait of said rents,profits,contract payments or
<br /> i�oMs�d�dp gll sud�thie�s eitl�by its own officers w by oC�er parties tluly au}horized and appoinbeA by it,as its ageni tor saiG purpose,and
<br /> to�r�e w p��reaW�wbis tee for swrh serwces,a11 of tl�e above to be done at such times and In wth manna and m such terms as to thefr said
<br /> slbeney s�y seaia best,rhlh fuil paMer of wbsdA�Non.
<br /> Tbe tb�ors baaiy a�e�lhat�f Canmeicial eitfier vol�tanly or involuamnly becomea or is made a wrty to any wit w praeeding relaGng
<br /> ts We hsieinbet�era descr+bed roel able,a to tl�is morf�a�e or said nots or no6ms,otl�tr tl�an a(aeclasure instiWted by Commercial,Mbtt�gas w�ll
<br /> eNehuss CawMrcial kfr�II�vsoa�ble cats incurrsd by Commerclal in sald w;t a proceading. The pAort�aQors furtl�er ag�ee ffiat if�e dereinbefae
<br /> desCrihed eeel estate a my part tlureof be cande�mpd w�der the parer of em�nent donwin, or is otl+eswise acpu�red for a publ�c use, 1he damages
<br /> awcAeA,we pracrda for tl�e hkia�,and for tAe censidsraifm fo.wch acs�isitiw to fhc eM�nt of Me full amount of p�e remsininQ unpaid iodebted-
<br /> � s
<br /> Ma Ncwed'Oy lkis eerl�e�e,be,aad Mwy Mereby Me,na�ed to Com�rcial and sAall be pa�d fortltwi�to Commercial to be appl�ed on account of
<br /> tl wi
<br /> •s Hst wNKins insbllaients of wd en�blWnssS.
<br /> + EMIM Mis .1� d�y of t�,n+aY,s+r ,19IL. �y�
<br /> � If P CE OF- — ��ii��.�Q %( ,�..�—
<br /> •� � Mi 1 J. Nol �
<br /> � �,p �J����
<br /> "� rl e�ne/�an- �7�"- � .,..�---- "'�
<br /> sTA�'f�Mqa►!Gn `�
<br /> �711'6F fiMt i �' � �'
<br /> ' �Mli� �� 111y�i� LaQ�t , !!1Z.befare ae.a nehry prblic ia and fo►sa�d Counry.De*sonally came � .
<br /> y M airw�.�� �
<br /> ;. tltsl�ael J. Pblt� and flarla�se E. ti�star�. hvsl�nd ar�d wiPe " Y �
<br /> � i�MM i��w Y!�Mw i�IMYt�i}w1�#r t aiiM�we ii ar�es see�md M fe�oae mortp�e as eran�r o�¢rantors arM tliey,he " ' � �
<br /> �r 1M.s�qN��M f�N' Mr����� att Md U�ed.
<br /> F � .
<br /> $ �M AMIF�III M�r1lI 8MA ris i1�r �� � ����z_��
<br /> � /'"�� Notary Public J
<br /> I�r ue�u�i�a�cyi�0�tlie Z�s�.. d�af . LQ. M-50
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