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<br /> 77-007341 EXPANDABLE MORTGAGE
<br /> ASSIGNMENT OF RENTS Loar Nc. _318�1.',-.1.__.
<br /> KNOW ALL MEN BY THESE PRESEN7S: That James Ft. Roop and Donna K. Roop, husband and wi fe
<br /> (hereinafter calted the Mortgagors)m considera6on o(the sum of
<br /> Twenty-Eight Thousand Two Hundred and no/100-----------------------0oliars(323,200.OQ----)
<br /> loaned to Mortgagors, do hereby grant, bargam, setl and convey unto COMMERCIAL fEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha.
<br /> � Nebraska, (hereinafter called "Commercial"), its successors and assigns, the (ollowing descnbed reat estate, sduated m the County of,
<br /> fia 11 State of Nebraska,to�wit:
<br /> See back
<br /> TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commerual, its successors ana assigns (orever.
<br /> Said Mortgagors hereby covenant with said Commeraal ifs successers and assigns, fhat Mortgagors are lawfully seized of sa�tl premises,that
<br /> they are free froiri encumbrances. and tha( they wi II forever warrant anA detentl the title ro said premises against the iaw(ul claims of all persons
<br /> wh om soe ver
<br /> Provided, nevertheless.these presenfs are upun the fol!owing ccnoit�ons:
<br /> That whereas the said Mortgagors as mernbers ol Connnerual have th�s tlate executetl a note evidencing such loan and agreeing to repay said
<br /> sum of money, wiN interesl, �n payments as set forfh �n sa�d note and have agreed to a6ide by the terms of sa�tl note and Charte�and By-La�s of
<br /> Commercial.
<br /> That whereas th�s mortgage shail seare any ada�t�onal ativances with mterest wh�ch may at the option of Comniercial Ge made 6y Com
<br /> rnercial to the unders�gned Moilgagors ur thei�successois m litie foi any puipuse.at any time be(ore the ielease antl cancellahon of this mortgage,
<br /> bul PROVIDED HOWEVER at no t�me shall the aggregate pnnapal an�ount secured by this mortgage, bemg the amount aue at any ume on said
<br /> onginal note and any additivnal 2dvances rnade exceed an amount equal to llu percent of(he amount of the onginal note.but m no event shall
<br /> sai�i note exceed the maximum amount pernuttetl by law and PROVIUED HOWEVER, thal noth�ng herein contained shall be considered as I�n�iting
<br /> the amount lhat shail be secuied hereby when advanced to protect the secu��ty or in accordance w�th covenants contained m the mortgage
<br /> Now �t the saia Mortgagors shall pay or cause ro be pa��i the said suo�s of inoney when aue, as set forth in said note,and any other note for
<br /> add�t�onai advances made until saitl debt �s fully paitl w�th �nteiest then these presents shall be vo�d: other,vise. to be and rema�n in full foice and
<br /> ef�ect but�f default should be made:
<br /> �2� In any of the Uayinents due on saitl riote and any �othe�note for ada�tiona! advances matle, �s there�n agreed to be made for three niunths,or
<br /> �b� In keeping the improvenients on said piernises �nsured 'dgainst loss by reason of hre, lighfiing, and other hazards mcluded m eztended
<br /> couerage insu�ance in an amount not iess than the unpaitl balance of said rnor(gage loan. in a company orcompanies acceptable tc Com
<br /> mercial, the onginal o(such policy or pulines to be heid by Connneraai and with a mortgage clause attached lo said polity or polines.
<br /> in favoi oi Comrt�erc�a I.o�
<br /> in In the payment of taxes and assessmerrts lewed upon saia preinises,or on th�s!nortgage, before they are delmquent:or
<br /> �d� If there is any change in the ownership of the real es(ate :���mtgaged herein, by sale.either outright or by IanO confracL o�by assignment of
<br /> any interes!thereon or otherwise:
<br /> then, in any of the above set turth events. the whole indebtedness hereby seared shall at [he option of Commercial,�mmetliately become d�e and
<br /> payab�e without furlher notice.antl the amoun!tlue untlei saitl note and any other note for additional advances made shall,from the date of the exerase
<br /> of said option, beai �nterest at the maximum legal rate per annum and fhis mortgage may then be foreclosea to sat�s(y the ainount tlue on said note.an0
<br /> any other note foi addihonal advances, together with all sums paid Uy Cornmer��al (or insurance, taxes,assessments and abstract extension charges,
<br /> with interest thereon frorn Ihe date ol payment at the maximum iegal rate,
<br /> PROVIDED thal �n no event. either before o� after tlefauit, shau the �nterest due untler said nole and this mortgage and any other note for a0-
<br /> dihonai advances made exceed the niaximum lawful inteiest rate.
<br /> PROVIDED, further.that m the event that delau!t occurs �n the maR�ng o( the Uayments tlue on sa�d note.ano on any other note for adtl�tional
<br /> advances, as theiein agreeu to be inatle or �n keepmg the preni�ses �nsuietl, as abuve piovidetl.or ii default be rtiatle�n the paymen(o(the taxes
<br /> or assessments ievied upon the piemises �bove descubetl or upon th�s niortgage, Before they are by iaw delinquenL Commerc�al shall t�e enUtled
<br /> to the iinmediate possession of the p�ennses above descut�ea together w�th ,ill rents proceeds and issues ansing ou!o(the premises,ana may
<br /> �n its discretion use the rents so fui as il deems necessary for the purUose of mak�ng�epairs upon lhe prennses antl for fhe paymenf of�nsurance
<br /> premiums, taxes and assessments upon such prenuses ancl fo� necessary expenses incurred m renhng said premises and collechng rent therefrorri.and
<br /> to apply same on said note and any notes ev�denang future advances he�ewider unti! [he mtlebtedness securetl is fully pa�d:and for such purposes,
<br /> the undersigned Does hereby seil,ass�gn set over and transfer unto Con�n�ernai all of said rents proceeds arid mcomes�ncluding any land contract
<br /> payments due mortgage owneis oi any other �nconies of any type whatsoever frum sa�d pioperty to be applieo on the notes above descnbetl:but saia
<br /> Commercial shall�n no case Ge liable loi the failure to piocure tenants to cuilec�renis,or to pmsecute actions to recover possession of sai0 premises.
<br /> The Mortgagors (urthei appoint Cunimercial ot Ornaha Nebraska the�r attomey in fact g�ving said attorney power nrevocabty, either on�ts own
<br /> oame o�Mortgagors'names to taMe all necessary steps ftir proceetl�ngs in court or otherw�se.!o cause said premises to be vacated to coilect rentals
<br /> oi other incomes due.and when vacant.to relet the same, to ma�e aii ieasonabie iepairs ano pay taxe5 out ot sai0 rent5,profits. contract paymen[5 or
<br /> �ncomes and to do a�l such things eithe�by its ewn ofhcers u� by other p2rties du!y authonzetl and appou�tetl 5y �t as its agent ftir sa�C purUos�� ana
<br /> to charge or pay a reasonable tee tm such serv�ces all of the above to be done at such tinies ana�n such rtianner and on such ter�ns as to theu sa�a
<br /> attorney may seem best w�th fuli powei ot substituUon
<br /> The Mortgagors hereby agree that if Conimerc�al e�ther voluntan ry oi �mcluntanly becomes oi �s made a party to any su�t or proceeding relatmg
<br /> to the hereinbefore desaibeC real estate. or to th�s niurtgage or sa�tl note or notes other than a foreUosure institutetl by Coaunerual Mortgagors will
<br /> re�mburse Commercial for al� reasonable costs incwretl by Cornmerciai ��i sa�tl sui!oi proceed�nR_ The Mortgagors turthei ag�ee that�f the here�nbetbre
<br /> descnbed ieal esUle or any ��art the�eof be conoemnetl undei the power ol eminent tluma�n.or is otheiwise acpuiretl for a publ�c use,the aar.�,ages
<br /> awarded, lhe proceeds fo� the taking, antl fo� the consideration for such acquisition[o lhe exlent of the full ai?�ount ot the remaining unpaid�ndebted
<br /> ness secured by th�s mmtgage.be.and they hereby are assignetl to Commerciai antl shall be paid forthwith to Comme+cial to be appl�etl on account of
<br /> ihe last niaWring instalhnents o(such intlebtedness.
<br /> Da�ed m�s___l:ith_ aay�r _:2ecemb�r :9 77
<br /> INT EN EOF _ _._ 'r'a,d�21fL..�
<br /> James t+. Ro p;
<br /> � _._ _
<br /> - - _ _ ___ , ��/ -
<br /> ✓ ' ��i
<br /> --- __.._ ___�(.�I_.— 71_.___���`�=L�-- _
<br /> _ -- - --- - -- ---. _. Donna K. Roop , :.
<br /> STATE OF NEBRASKA
<br /> C011NTY OF Hal l ss _.___ ____ __ _.__ r, st, ,
<br /> ___ - -
<br /> On tlfls ��th_ day ot I�eember 19 77 �efo�e me a notary public �n ano foi sa�tl Counry peisonally caa�e J yM
<br /> tnr�bnva��+M
<br /> to me welt known to be the itlenfical person or persons whose i�ame �s or names are afhxed to the above murtgage as granto�or g�antois ana fhey he
<br /> or sbe,severaNy acknowledge tAe said instru �uleiCr���lunfary act antl deed. �
<br /> wioi��
<br /> WITNESS my hand and Notarial Seal this day a a� NOIARY
<br /> iTJ1�NE8RASKA -
<br /> Ca�lrlm 29 97:r - , uta�v P�,m��r ��
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<br /> My conun�ss�on expues on me 24#.h _. tlay at _$L'ptPmbQ[' :5 70 . t,
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