|
���
<br />��,�;. , �.�,.
<br />� - �
<br /> ��;�, ,
<br />, . - .
<br /> m, , :s;�,�,
<br /> � , -_ �
<br /> /�''�• UC)JO6� EXPANDABLE MORTGAGE '
<br /> ASSIGNMENT OF RENTS Loan No.__a180$7=b ___
<br /> KNOW ALL MEN BY THESE PRESENTS:That James A. Atwood and Donna J. Atwood, husband and wi fe
<br /> (hereinafter called the Mortgagors)in consideration of the sum oi
<br /> ` Thirty-Three Thousand Seven Hundred and no/100—=------------------Doi�ars(533,700.00-----)
<br /> loaned'to Mortgagors, do hereby grant, bargain,sell and convey anto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br /> Nebraska, (hereinaiter cailed "Commercial"), its successors and assigns, the following described real estate, situated in the County of,
<br /> � Hal l State of Nebraska;to-wit:
<br /> Lot Qne Hundred Seventy-Eight (178) in Belmont Addition, City or" Grand
<br /> Island;,Hall 'County, Nebraska.
<br /> TO HAVE- AN� TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, its successo�s and assigns,(orever.
<br /> Said Nortgagors hereby covenant with said Commerciai, its successors and assigns, Uiat Mortgagors are lawtuily seized of said premises,that
<br /> they are free frorn encumbrances, and that they will forever warrant antl defend the title to said premises against the tav+fu!claims of all persoas
<br /> whomsoever.
<br /> Provided,nevertheless,these presents are upon the following conditions
<br /> That whereas the said Mortgagors as members of Commetciai have this date exeated a note evidencing such loan and agreeing to repay said
<br /> � sum ot money, wiih ittterest, in paymeots as set iorth in saiq note and have agreed to abide by the terms of said nate and Charferand 8y-Laws of
<br /> i: Commerciai.
<br /> Ttiat N+hereas this mortgage shall sewre any atltlitional advances, Hith interest, which may, at the option of Commercial,be inade Ly Com-
<br /> mercial to the untlersignetl Pdortgagors or their successors in title for any purpose,at any time before the release and c2nceliation of this mortgage;
<br /> : ' but PROVIDED,HOWEVER,at no time shali the aggregate principal amount secured by this mortgage;being the amount due ai any time on said
<br /> original note an6 any additional advances made, exceed an amount equa I to 110 percent of the amount of the original note,but in no event shall
<br /> said note exceed the maximun�amount permiited by law,and PROVIDED, HOYYEVER,Ihat nothiog herein contained shall be considered as li,uiting
<br /> the amount �hat shail be securetl hereby when advanced to protect the security or in accordancewith covenants contained in the mortgage.
<br /> No�v, if the saitl Mortgagors shall pay or cause to be paid tlie said sums of money when due,as set forth in said note,and any other note tor
<br /> - ; additional advances made until said debf is fully paid with interest; then these presents shall be void; olhereise,to be and remain in tull force and
<br /> effect;buf if tlefault should be made:
<br /> (a) In any oi the payments due on said note,and any other note for additional advances made,as therein agreed tc be made for three months,or
<br /> a q
<br /> (b) In keeping the improvements on said premises insured against loss by reason of fire, lightning, and other hazards inciudetl in extendetl
<br /> coverage insurance in an amount nol less than the unpaid balance of said mortgage loan, in a company c;coapar�es accepta`;J2 Yc Ccm-
<br /> mercial, the original ot such policy or policies to be held by Commercial, and with a mortgage clause atlached to said policy or policies,
<br /> in Yavor ot Comme�cial;or
<br /> ' (c) ln the payment of taxes and assessmenls levied upon said premises, or on this morlgage,be(ore they are delinquent;or
<br /> � (d) If there is any cpange in the ownership of the real estate mortgaged herein, by sale,either outright or by land contract,or by assignment of
<br /> any interest thereon or otherwise;
<br /> then, in any of the above set-forth events, the whole intlebtedness hereby secured shall, at the option of Commercial,imrt�ediately t�ecome due antl
<br /> payable withouC Purthernotice,and the amount due untler said note and any other note for additio�al advances made shall,from Gie date of the exercise
<br /> o(said option,bear interest at the maximum legal rate per annum,and this mortgage may then be foreclosed to satisty the amount due on said note,antl
<br /> any other note for adtlitional advances, together with all sums paid by Commercial For insurance,taxes,assessments and abstract extension charges,
<br /> with interest theteon from the date ot payment at the maximum legal rale.
<br /> � PROVIDED ihat in no event, either before or after default, shaii the Inlerest due under said note and ihis mortgage and any olher note for ad-
<br /> � ,
<br /> ditional advances made exceed the maximum lawfal interest rate.
<br /> PROVIDED, further, that in the event that tlefault occurs in the making of the payments due on said note,and on any other�ofe for adtlitional
<br /> advances, as therein agreed to be made, or in keeping the premises insured, as above provided,or if default be rnade in the pay�nentof the taxes
<br /> or assessments Ievie�i upon the premises above described or upon this inortgage, before they are 6y law deli�quent, Commercial shall be entitled
<br /> to the immetliate possessiorr of the premises above-describetl, together with all rents, proceetls antl issues arising out of the premises,antl may
<br /> in its discretion use the rents so far as it deerns necessary for the purpose of making repairs upon 1he premises and for the payment of insurance
<br /> premiums,taxes antl assessme�ts upon such premises, and for necessary expenses incurred in renting said preroises and collecting rent therefrorn,and
<br /> s ` to appiy same on said note and any notes evidencing future advances hereuntler untii the indebtedness securetl is(ui;y paid;and for such purposes,
<br /> the undersigned does hereby sell, assign, set over and transfer wito Commerciai ail of said rents, proceeds and incomes including any land contraci
<br /> ? payments due mo�tgage owners or any other incomes of any Type whatsoever trom said property to be applied on the noies above-described:but said
<br /> � ' Commercialshall in no case be liable for the failure to procure tenants,to coilect rents,or to prosecute actfons to recover possession of saitl premises.
<br /> The Mortgagors further appoint Commercial of Omaha, Nebraska, their attomey in fact, glving said atfomey power i«evocably, either on its own _
<br /> name or Morigagors'names to take all necessary steps for proceedings in court or otherwise, to cause said premises to be vacated, to coliect rentals
<br /> or other incomes due,and when vacant,to relet ihe same,to make all reasonable repairs and pay taxes out of said rents,profits, contiact payments or
<br /> incomes and to do all such things either by its own officers or by oiher parties duly authorized antl appointed by it,as its agent for said purpose,and
<br /> to charge or pay a reasonable fee for such services, all of the above to be done al such times and in such manner and on such terms as lo iheir said
<br /> attomey may seem best,with fuiJ powcr of substitution.
<br /> The hlortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a party fo any swt or�roceeding re�ating
<br /> to ihe hereinbefure described reai estate, or to lhis mortgage or said note or notes,other than a foreclosure instituted by Co�nmercial,h4orlgagas will
<br /> reimburse Cornniercial for all reasonab�e costs iacurred by Commercial in said suit or proceeding. The Mo�tgagors further agree that if the hereinbefore
<br /> described feal estate or any part thereof be condemned under the power of eminent domain, or is otherwise acquiretl for a public use. fhe da�r;ages
<br /> awatded; the proceeds(or lhe taking,and for the consideration for such acquisition to the extent of the(ull amount of the rerna�ning unpaid rndehted-
<br /> ness secured by this mortgage, be,and they hereby are,assigned to Commercial and shall be paid forthwith to Commercial to be appiietl on account o(
<br /> ' theJast mahiring installments of such indebtedness.
<br /> Datetlthis 1St _dayof_ SeptembeY ---.19��_.
<br /> � � . -
<br /> y .p
<br /> 1�'�ThIE FRESECdCG OF: ���C.1?/1 __ ��'��-l 5���_:__.
<br /> �bi+ Y -/""'Y'_"'"__'�"
<br /> �n�—_�'c',,�,�;e��-�,.-��"'� �es A. Fltwood
<br /> __—.� _—�
<br /> - — — — Donna J. Atwoo
<br /> — — ,✓( ::
<br /> STATE OF N EBR/15KA �'"'
<br /> COUNTY>OF Hall ss. — ------- �+ �
<br /> � On this 1 St ___day of V_—Se�tOmber_,_ _, 19.�7.. before me; a notary pubiic in and for said County. personally came
<br /> the above-named � N F
<br /> James A. Atwood and danna J. Atwoad husband and wife
<br />� �� tn me wefi known to�be the�dentica�person ^_�persgr,s whose na .is c!na s are z�f,,.d t.the�bc;,e ma?;c;e�s e""tc'a`er^"`o'=:"^_ t�s„h^ �
<br /> ' ` or she,severally acknowledge tfie saitl instmment o he their voluntary act and deed. • �` �
<br /> NAROLD C_ RiCNTfR ��"
<br /> : � � . --�.
<br /> tYITNfSS iny hand and Notarial Seal this daV antl y �� ve wriQ6MERAt NDTARY -' �.� d i'���v - 1
<br /> �7E UF NfBRASKA -���?� -��'�%�__���-���� .__�—_''
<br /> � — , firotary Pi,biic
<br />�" My commission expires on the 29th day o � 1 M SQ
<br /> z ' , ,._._ �
<br />`:�
<br />
|