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<br /> 77-0 0 6 8 8 2 EXPANDABLE MORTGAGE
<br /> ASSIGNMENT OF RENTS �oar No. .._.__ 31_3542-%3._
<br /> KNOW ALL MEN BY THESE PRESENTS:That bJi 11 i am A. Brown and Chri sti ne M. Brown, huS�aRd a�� wi fe
<br /> (heremafter called the Mortgagors)in consi eratwn o e sum of
<br /> Thirty One Thous�nd Nine Hundre� and Fift� �r���f�l��(�0� DoUars(5 31 q5n p� )
<br /> � loaned Co Mortgagors,do ereby grant, bargain, se I and convey u to I L EDERAL SAVIN6S AND LOAN ASSOClaTIOA o Omaha,
<br /> Nebraska, (heremafter called "Commercial"), its successors antl assigns, the following described real estate, s�tuated �n the County of,
<br /> Hal l State of Nebraska,to-wit.
<br /> Lot Nine (9), alock One (1), Sothman's Subdivision, city of Grand Islapd,
<br /> Hall County, Nebraska.
<br /> TO HAVE ANU TO HOLD THE SAME, with the aGPurtenances thereunto belong�ng. unto Commercial, its successors and ass�gns,torever
<br /> Said Morlgagois hereby covenant with said Coinmereial, �ts successors and assigns, that Mcrtgagors aie lawfuliy seized of saitl premises. that
<br /> they are free froin encumbrances, and that they will foiever warrant ano defend the title to said premises against the lawful claims of all persons
<br /> whomsoever.
<br /> Provitled, nevertheless,ihese presents are upun!he follow�ng contlitions:
<br /> That whereas the said Mortgagors as members of Co�nmerc�al have this tlate executed a note evitlenang such loan antl agreeing to repay said
<br /> sum of money, with interest, in payments as set torth m said note antl have agreed to abide by the terms of said note and Charter and By-Laws of
<br /> Commercial.
<br /> That whereas this nwrtgage shall secure any ada�tiorial advances, w�th mterest which may, at the option of Commerc�al be made by Com-
<br /> mercial lo the unders�gned Mortgagors or theu successors ui htie for any purpose at any time before the ielease and cancellation of this nwrtgage.
<br /> but PROVIOED. HOWEVER at no tiine shall ihe aggiegate prmnpai aniount secured by this mortgage. being the amount due at any time on said
<br /> ongmal note and any additwnal advances rnade exceed an 2mount equal to 1l0 percent of the amount of the ong�nal note, but in no event shall
<br /> said note exceed the maximum amount permitted by law and PROVIDE 0 HOWEVER. that noth�ng herein contained shall be considered as Iimiling
<br /> the amount that shall be secured hereby when advancetl m protect ihe security or in accordance with covenants contalned in the mortgage.
<br /> Now, if the said Mortgagors shai! pay or cause to be paid the sai d sums of money when due,as set forth in said note,antl any other note for
<br /> addiGonal advances made unlil said debt is tully pa�tl with �nte�est then these presents shall be voitl:otherNise to be and remain in full lorce and
<br /> effect, but if defaWt shoula be made:
<br /> �a In any of the payrrients due on sa�d note. and any othe� note icr a0dihonal advances made.as there�n agreed to be made(or three months,or
<br /> ib� In keeping the nnprovements on sa�d prein�ses �nsuretl against loss by reason of fire, lightning, antl other hazards inclutled in extended
<br /> coverage insurance �n an amount not less than Ihe unpaitl balance of said moitgage loan. in a company or companies acceptable to Com
<br /> merc�al, the orig�nal ol such policy or policies to be held by Commerciai, antl w�ih a morigage clause attached to sa�d policy or policies.
<br /> �n tavor of Commerc�al:or
<br /> �n In the pay�nenl of taxes and assessruents ievied upon sa�a prer,iises,o�on th�s mortgage, before they are deiinquen�:or
<br /> idi If there is any change in the ownership ot the real estate mortgaged herein.by sale,e�thei nutnght or by land contract,or by assignment ol
<br /> any interest thereon or otherwise:
<br /> then. in any of the above set forth evenis, the whole indebtetlness hereby secured sha�l, al the option o(Commercial, immediately betome due and
<br /> payable without further notice,antl the amount due under sa�d note and any other note for adtlitional advances made shall,from the date of the exercise
<br /> of said option, bear interest at the maximum legai rate pe�annum an�i this mortgage may then be foreclosed to satisfy the amount tlue on said note,and
<br /> any other note for additional advances. together w�th a�l sums pa�d by Comniercial fo�insurance, taxes,assessments and ahstract extension charges.
<br /> with �nterest thereon from the date uf payment at the maximum legai rate.
<br /> PROVIDED that in no event, e�ther before ur attei defauit, shali the �nterest due under said note and this mortgage antl any other note for ad-
<br /> di6onal advances made exceed the max�mum lawful interest rate.
<br /> PROVIDED.further.tha�in the event that tlefault ocais in the makmg o( ttie paymenfs due on said note,ana on any other note for additional
<br /> advances, as therein agreetl to be maoe. or in keeping the prem�ses inswed. as above provided,or if default be made in the payment of the Wxes
<br /> or assessments levied upon the premises above desaibed oi upon th�s niortgage, betore ihey are by law delinauent, Commercial shall be entiUed
<br /> to the immediate possession u( the premises above tlescnbed, togethei with atl r�v�ts proceeds and issues ansing out of the Uremises.antl may
<br /> in its d�screlion use the rents so fai as �t deems necessary foi the purpose ot making iepairs upon the premises and foi the payment of msurance
<br /> prem�ums, taxes and assessments upon such premises and for necessary expenses incurred�n renting said prem�ses and collecting rent therefrom.and
<br /> to apply same on sa�d note and any notes ewdencing�uture advances he�eun0er until the indebtedness seared is fully paid;and(or such purposes,
<br /> the undersigned does hereby sell, assign set over and transfei unto Commercial al I ot said rents. proceeas ana incomes inclutl�ng any land contract
<br /> payments due mortgage owners or any other mcomes of any type whatsoever from sa�o property to be applied on the notes above descnbed;but saitl
<br /> Commercial shallin no case be liable lo�the failure to procuie tenants, to collect�ents or to prosecute actions to recover possession of said premises,
<br /> The Mortgagors further appoint Commercial of Omaha Nebraska the�r attomey �n fact. giwng said attorney power irrevocabty either on its own
<br /> name or Mortgagors'names to take all necessary steps for proceedings in court or otherw�se, to cause said premises to be vacated,to collect rentals
<br /> oi omer incoines due,antl when vacant. to reiet the same to make ali reasunaoie iepa�is and pay taxes o�t of sa�ci rents,pwf�ts, �ontract payments or
<br /> incomes aod to do ail such ihings either by ils own ofhcers o� by other parbes duly authorized and appointed by it.as�ts agent foi said purpose,and
<br /> to charge or Uay a reasonable fee for such services. all of the above to be done at such tunes and �n such manner antl on such ternis as to thei� sai�
<br /> attomey may seem besL wiffi full power of subSUtution
<br /> The Nbrtgago�s hereby agree that if Cominereial either voluntar�ly o� rnvoluntarily becomes o� �s made a party to any swt or proceeding relat�ng
<br /> to the hereinbefore described real estate or te this mortgage or saitl n�t� oi notes ether than a(oreclosure ins!ituted by Commeruaf Mertgagors wili
<br /> reimburse Commereial for a�l reasonable costs incurred by Commerciai �n s2�d sui!or proceed�ng The Mo�tgagors further agree thal if the hereinbefuie
<br /> descnhed real estate or any part thereot be condemned unde� the power of eminent domain, or is otherw�se acawred for a public use. the tlamages
<br /> awarded, fhe proceeds br tfie taking. and for the consitleration tor such acpuisition to the extent of the full amount of the iemain�ng unpaid intlebted
<br /> ness secured by this mortgage, be and tfiey hereby are ass�gned to Commerc�a�and shall be pa�d forthw�th to Commerr,�ai to be appt�eA on acco�.,nt of
<br /> Me last matunng installments of such mdebtedness.
<br /> Dakd Mis_---.�0�. ___.._._daM of_�YEID�iL _ _\ 19 17 . , , ��> . �,s
<br /> IN TH E P N CE F ----.. ����'t���12I..S��t - ��C<'�-�i _ _ ___
<br /> / � ��- ' Willi m A. Brown
<br /> �__�— �{.
<br /> �„T�__;� __ _._...__—__. �� l��i.-�G.,i i ���_�"t/-C_./r-i�'�-�__._. ,. �
<br /> _---- --.___.— -- ----- -______--------.------_- Christine M. E3rown , ,'`
<br /> �h. .
<br /> L STATE OF NEBRASKA �- �e��
<br /> COUNTYOF ss _------------- ------ -----_ __ _ ___
<br /> (M th�s �ZA� . .. ��::'
<br /> tlaV of . �1k�i�r , ly �� Deto�e me, a no[a�V puDuc �n arN lui sdw Wuury Fieisuudiiv �ame
<br /> H�e druvr-�wxwrtl
<br /> Witliam A. Brown and Christine M. Brown, husband and wife
<br /> M me weli known to be the idenUcal person or ersons wfiose name is or names are aff�aed to the above mortgage as giantor o� gianto�s ana the�,hc "
<br /> or>.�c,serc�a;;y uc�nowicCgc thc�aiC:ns:• „en. ,1C'�!!C'C7�rj�w �h ( � ^t3�} ��t s�d^P d.
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<br /> wiTT1ESS my hand and Notanal$eal!his day st d����►'�Ee�� 6 _ -�"f, � ' �!'l�°
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<br /> `M _v t�mm�t6Wn 29. 19'8 i N�tir� P ;
<br />' Mv conim�sson e.pues on me 29th _ - aay of._S_eP_�r._.-�4�o �,, ,,
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