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<br /> 77- U069�O EXPANDABLE MORTC'zAGE
<br /> ASSIGMIAENT OF RENTS �oan Na_..___H1_���2-2.__
<br /> NNOW ALL MEN BY THESf PRESENTS:That John T. Appuhn and Loi 5 P1. Appuhn, husband and wi fe
<br /> (hereinafter called the Mortgagors)in considerati n of the sum of
<br /> Thirty-Seven Thousand One Hundred and no/100----------------------Dollars(S 37,�00.00----)
<br /> loaned to Mortgagors,do hereby grant,bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha.
<br /> Nebraska, (hereinafter called "Commeraal"), ds successors and ass�gns, the followmg described real estate, situated in the County oi,
<br /> � Hal l State of NebrasNa,to-wit:
<br /> Lot twenty-eight (2£3) Capital Neights Seventh Subdivision, I1a11
<br /> County, Nebraska.
<br /> TO HAVE AND TO HOL� THE SAME, with the appurtenances thereunlo belonging, unto Commercial. its successors and assigns,forever.
<br /> $a�d Mortgagors hereby covenant with said Commercial, its successors and assigns, tha(Mortgagors are lawfully seized of said premises,that
<br /> they are free from encumbrances, an0 thal they will forever warrant ana defend the 611e to satd premises against the lawful claims of all persons
<br /> whomscever.
<br /> Prowded, nevertheless,these presents are upon the fol�owing contlitions:
<br /> That whereas the said Mortgagors as meinbers of Commerc�al have this date executed a note evidencing such�oan and agreeing to repay said
<br /> sum of money, with mterest, in payments as set forth in sa�0 note and have agreed fo ab�de by !he terms of said note and Charter and By•Laws of
<br /> Commereiai.
<br /> That whereas this mortgage shali seare any additional advances, w�th interest, which may. at the option of Commeraal.be made by Com-
<br /> mercial to the undersigned Mortgagors or then successois�n title fnr zny purpose.at 2ny hme be(ore the release and cancellalion of this mortgage,
<br /> but PROVIDED HOWEVER at no time shali the aggregate pnnupal amount seared by this mortgage, being the amount�ue at any time on sai�
<br /> ongmal note and any a0tlitional a0vances matle exceea an amount equa! to 110 percent of the amount of the ongmal note,but in no event shall
<br /> said note exceed Ihe maximwn amount permitted by law,and PROVIDED HOWEVER. that nothing herein contained shall be considered as liniiting
<br /> the amount that shall be securea hereby when advancetl fo protect the secunty or in accmdance with covenants containetl m the mortgage.
<br /> Now. if the said Mortgagors shall pay or cause to be paid tl�e sa�d sun�s o(money when due,as set forth in said note.and any other nute for
<br /> add�tional a0vances made until said debt is �ully paid with �nterest then these presents shall be void:other,vise.to be and remain in full(orce and
<br /> effect;bul if default should be made:
<br /> �a� In any of the payments due on said note. and any other note toi add�t�onal advances made,as therein agreed to be made for three months,or
<br /> ib� In keeping the improvements on sa�d premises insured aga�nst loss by reason of fire lightnmg. and other hazards included m extendetl
<br /> coverage insurance in a� amount not less than the unpaid balance of said mortgage loan, m a company or companies acceptable to Com-
<br /> mercial, the onglnal o(such policy oi policies to t� held by Commeraai. and with a mortgage clause attached tu said policy oi policies,
<br /> in favor of Commeraal;ur
<br /> (ci In the payment of taxes and assessments iewed upon said premises, or on this mortgage, before they are delinquent',or
<br /> id� If there is any change in the ownership ot the real estate mortgaged herein by sale:either outnght or by land conlract,or by assignmeni of
<br /> any interest ihereon or otherwise
<br /> then, in any of the above set forth events, the whole indebtetlness hereby secured sha!I, at Ihe option o(Commercial, immediately become due and
<br /> payable without further notice.and[he amount due untler said note antl any olher note for adGihonal advances made shall.from the date o(the exercise
<br /> of said option. bear interest at the maximum legal rate per annum.and this mortgage may then be foieclosed to salisty the amount due on said note,antl
<br /> any other note tor additional advances, together with all sums paid by Commercial for insurance, taxes,assessments antl abstract extension charges,
<br /> with mteresl thereon from the date of payment al the niaximum legal iate.
<br /> PROVIDED that in no event, e�ther before or altei default. shall the inteiest due under sa�d note antl th�s moitgage and any other note for atl
<br /> diGonal a0vances ma0e exceetl the max�mum lawful �nteiest rate
<br /> PROVIDED,further,tha(in the event that tlefaull uccws in the n�ahing ot the payments due on said note,and on any other note for additional
<br /> advances, as there�n agreed te be made or in keeping the pieniises �nsured, as a�ove prowdea or if detault be made in the payment of the�axes
<br /> or assessinents levied upon ihe premises above described or upon this mortgage, Gefore they are by law delinquenl, Commercial shall be enhtled
<br /> to the immediate possession of the premises above descnbed togethe� with all rents, proceeds and issues arismg out of the premises.and may
<br /> in its discretion use the rents so far as it tleems necessar� for the purpose ot making repaus upon[he premises antl for the payment ol insurance
<br /> premiums,taxes ana assessmenis upon such premises.and foi necessary expenses inarred in renting said piem�ses and collecting renl there(rom,and
<br /> to apply same on said note and any notes ewdencing future advances hereunder until the indebtedness secured is fully paid;and for such purposes,
<br /> tfie undersigned does hereby sell, assign. set over and transfer unto Commeraal all of said rents. proceeds antl incomes mcluding any land contract
<br /> payments due mortgage owneis o�any other incomes of any type whatsoever from said property to be applietl on the notes above-0escnbed;but saitl
<br /> Commercial shall in no case be liable foi the taiiure to piocure tenants,to collect rents,or to prosecute actions to recover possession of said premises.
<br /> The Mortgagors further appoint Commeicial of Omaha. Nebiaska, their attomey in facL giving said attorney power irrevocably.either on its own
<br /> name or Mortgagors'names to take all necessary steps fo� proceedings in court or otherwise. lo cause saitl premises to be vacated. to collecl rentals
<br /> or other incomes due,and when vacant,to relet the same. to make all reasonable repairs and pay taxes out ol said rents,proflls.contract payments or
<br /> mcomes and to tlo all such things e�ther by�ts own officers or by other parUes tluly authonzea and appointed by it,as its agent lor said purpose.and
<br /> to charge or pay a ieasonable tee for such sernces, all ot Ihe 2bove to be Oone at such Umes and �n such manner and on such terms as to their said
<br /> attomey may seem best,with full powei ot substiWtion
<br /> The Mortgagors heieby agree that i( Commercial e�ther voluntanty or involuntanly becomes or �s made a party to any swi or proceeAing ielating
<br /> to the hereinbefore described real estate. or to this mortgage or sa�d note u�notes, other than a foreclosure mst�tuted by Comineraal,Mortgagors w�II
<br /> re�mburse Commeraal foi aii reasonable costs incurred by Commercial �n sa�d suit oi proceetling. The Mortgagors furthei agree that�f the hereinbefore
<br /> described real esUte or any part thereo( be contlemned untler the power ol eminent domain. or is otherwise acqwred tor a Dublic use.the da!r.ages
<br /> aWarded, tlFe proceetls for the taking.and foi the coasideration foi such acqmsition to the extent of lhe full amount of the remaimng unpaid inde6ted
<br /> ness Seared by this mortgage. be,and they hereby are,assignetl to Commercial antl shall be paid forthwith to Commercial to be applied on acco�mt of
<br /> the last maturing msfallmeats of such indebtetlness.
<br /> �aced n,�s _..___l�t __...a�y or___ _ _t�s.�gr _ _ , 19.77 _ ��
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<br /> IH TNE-f/'RESENCE OF �-, �'��^S��i / � ✓,�_,
<br /> �.Ff��!.G��'r-�..�l2 c-� . Appuhn ,L��
<br /> —?r-=— a -------- j r �l �(� � �C�
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<br /> - --- - - Lois M. Appuhn �
<br /> STATE OF NEBRASKA
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<br /> ss _—_-------__— ____ ...___. g�
<br /> � COUNTV OF Hal i — r
<br /> On this .____.�.St____.__ day of__. _._.�tE�Pi'-_ _ , 19 27.. , before me. a notary pubUc inantl forsaid County,personally came �'
<br /> p�e above�named
<br /> John T. Appuhn and Lois M. Appuhn. husband and wife '
<br /> ta me well known to be the iAenticai person or persons whose name is or names are affixed to the above;nortRagc as grantor or grantors and ihev t�e
<br /> d ShC, SEMC�elly 3Cka0WIEA$E SfiE 5814� �^���^�•���•••-• ir voiuntary act ana neea. � .m
<br /> HA�OL�C. RIC1 R
<br /> MITIVESS my hand and Notanal Seal this r Iast�tt�TAAY � _ ^ �, ,...�r-�� A
<br /> STA7F Of NESRA.,�lSA , --�,>x r`��:- E�,, ;
<br /> QOIIIIIIIIIIp� I9. 1979 Notary F'uGhc
<br /> My commiss�on eKp�res on tMe _.�� _ _. ay o __ r 19 jQ . '� �
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