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<br /> a7: UOSO�H EXPAl�"'DABLE MORTG�GE
<br /> ASSIGNMENT OF RENTS Loan P�o..__.�18067=2;
<br /> KNOW ALL MEN BY THESE PRESENTS:That Mark A. Jensen and Rose E. Jensen, husband and wi fe
<br /> (hereinafter called the Mortgagors)in consideration of ihe sum oi
<br /> ' Thirty-One Thousand Eight Hundred Twenty-Five and no/1�0----------�pouars(3 31,II25.00--- )
<br /> loaned to Mortgagors,do hereby grant, bargain,sell and convey unto COMMERClAL FEDERAL SAVINGS AN�J LOAN ASSOCIATION of Omaha,
<br /> Nebr ska, (hereinafter cailed "Commercial"); its successors and assigns; the following described reai estate, situated in the County of,
<br /> Hal� State of Nebraska, to-wit:
<br /> r
<br /> Lot Fifty-Five (55), of Woife'sSubdivision in the City of Grand Island,
<br /> Hal1 County, Nebraska.
<br /> T0 HAVE AND TO HOLD THE SAME, with the appurtenances thereunto be�onging, unto Commercial, its successorsandassigns.forever,
<br /> Said Mortgagors hereby covenant with said Commercial, its successors antl assigns, that Mortgagors are Jawfulty seizetl of saitl premises,that
<br /> they are free from encumbrances, and that they will forever warrant antl tlefend ihe title to said premises against Ihe lawful claims ot all persons
<br /> whprnsoever.
<br /> �?rovided;nevertheless,these presents are upon the tollowing conditions:
<br /> That whereas the said Mortgagors as members of Commerciat have this date executed a note evidencing such loan and agreeing to repay said
<br /> som of money; with inierest, irt payments as set forth in said note and have agreed to abide by the terms of said note and Cfiarter and By-Laws o(
<br /> Commercial.
<br /> That whereas this mortgage shall secure any additional advances, with inte;est, which may,at the option of Commerciai,be matle by Com�
<br /> mercial to the uatlersigned Mortgagors or their successors in title for any purpose,at any time before the release and cancellation of this morlgage,
<br /> but PROVIDED,HOVVEVER,at no time shail the aggregate principai amouni secured by this mortgage,being the amount due a;any time on said
<br /> original note and any additiona(advances made, exceed an amount equal to 110 percent of the amount of the originai note,but in no event shall
<br /> said note exceetl the mazimum amount permitted by law,and PROVIDED,NOWEVER,that nothing herein contained shall be consideted as limiting
<br /> 4 The amount that shail be secured hereby when advanced to protect the security or in accordance with covenan[s containetl in the mortgage.
<br /> ' Now, if the said Mortgagors shall pay or cause to be paid the said sums ot money when due,as set fprth in said note,and any other note�or
<br /> adtlitional advances made until saitl debt is fully paitl with interest,then these presents shall be void;oiherNise,to be and remain in full force antl
<br /> i effect;but if default should be made:
<br /> ; , (a) ln any oi 2he payments due on said note, and any otlier note for additionai advances made,as therein agreed tc be made for±hree months,or
<br /> (b) In keeping the irnprovements on said premises insuretl against loss by reason of fire, lightning, and otfier hazards induded in extended
<br /> ° cover2ge �ns!��ance in an amount not less than the unpaid balance of said mortgage loan, in a company or companies acceptable to Com�
<br /> � mercial, the origi�ial of such policy or policies to be held by Commerciai, antl wiin alnoitgege clause attached,o said peLc,er pa!icies,
<br /> ' in favor of Commercial;or
<br /> (c) 1n ifie payment of taxes and assessments levied upon said premises,or mi this mortgage,before they are delinquent;or
<br /> ; id) If there is any change id 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 evenis, the whole inde6tedness hereby secured shail, at the option o(Commercial,immediately become due and
<br /> payable without further notice,and the amount due under said itote and any other note for atlditional advances made shall,from the date of the exeicise
<br /> of said option,bear interest at the maximum legal rate per annum,and this mortgage may then be forectosed to satisFy the amount tlue on said note,antl
<br /> any other note for additional advances, together with ali sums paid by Commercial for insurance, taxes,assessments and abstract extension charges,
<br /> with inte�est 4hereon from the date of payment at the maximum legal rate.
<br /> PROVIDED that in no evenf,either before or after default, shall the interest due under said note and this mortgage and any other note for ad-
<br /> ditional advances made exceed the maximum lawful interest rate.
<br /> PROVIDED,further,that in the event that default occurs in the making of the payinents rlue on said note,and on any other note for addiiional
<br /> advances, as therein agreed to he made, or in keeping the premises insured, as above provided, or if default be made in the payment ot the taxes
<br /> j or assessments levied upon ihe premises above tlescnbed or upon fhis mortgage, before they are by law tlelinquent. Commercial shall be entitled
<br /> � to the immediate possession of the premises above-described, together with all renfs, proceeds and issues arising out of the premises,and may
<br /> iq its tlisc�etion use the rents so iar as it deems necessary br the purpose of making repairs upon the premises antl for the paymeni of insurancz
<br /> premiums, taxes and assessments upon such premises,and for necessary expenses incurred in renting said premises and coUecting rent therefrom,and
<br /> to apply,same on said note and any notes evidencing future advances hereunder until the indebtedness secured is fuliy paid;and for such purposes;
<br /> the undersigned does hereby setl,assign, set over and transfer unto Commercial all of said rents,proceeds and incomes including any iand contract
<br /> paymeats due mortgage owners or any other incomes of any type whatsoever from said property to be applied on the notes above-described;but said
<br /> Commercialshall in no case he liabie for the faifure to procure tenants,to coliect reats,or to prosecute actions te�ecover possession of said premises. �
<br /> The Mortgagors further appoint Commercial of Omaha, Nebraska, their attomey in fact, giving saitl attomey power irrevocably,either on its own -
<br /> name or Mortgagors'names to take all necessary steps for proceedings in court or otherwise, to cause said premises to be vacated, to coilect rentais
<br /> � or oiher incomes due,and when vacant,to relet the same,to make aU reasonable repairs and pay taxes out of said rents,profits,contract payments or
<br /> � incomes and to do alf such things either by its owa o(ficers or by other parties duly authorized and appointed by it,as its a,er.t for said purpose,and
<br /> � to charge or pay a reasonabte fee tor such services, ali of the a6ove to be done at such times and in such manner and on sucn terms as to their said
<br /> ,y aitorney may seem best,with full power of suhstitution.
<br /> ( . The Mortgagors hereby agree t�at it Commercial either vo�untari ty or involuntarily 5ecomes or is matle a party to any suit or proceeding relating
<br /> to Y�e hereinbefore described real estate,or to this mortgage or said note or notes, ofher than a foreclosure instituted by Comiiiercial.tdortgagors will
<br /> reimtiurse Commercial(or all reasonable costs incurred by Cominerciai in saitl suit or proceeding. The Morlgagors further agree lhal if ihe hereint�e(nre
<br /> r desc�ibed reai eskate or any part thereof be condemned under the power of eminent domain, or is ott�erwise acquired for a public use,ihe da!r.ages
<br /> awarded, the proceeds for the taking, and for the consitleration for such acquisition to ttie extent o(the full amount of the remaining unpaitl intle6ted-
<br /> ness securetl by this mortgage,be,and they hereby are,assigned to Commercial antl shatl be paid(orthwith 2o Commercial to be applied on account ai
<br /> {. ` the last maturing installments of such indebtedness.
<br /> oatedthis 27th dayor Auuust , is 77 .
<br /> q� �/
<br /> I"!TY� � 0F: _.___��_ ✓%'�/%r./�l�'�
<br /> � Ma rk A. J er�e `---------------—
<br /> � �
<br /> ,�'
<br /> {�,-'�y°k-�� --- --
<br /> ; '---------- ---- — Rose E. Jensen �'
<br /> STATE Of NEf3RASKA "'"+^�� " "��
<br /> _ ..,_. ,, ,
<br /> CouN'[Y oF Buffalo ss. -- --_ �— - �^ � *k.,�.
<br /> � On ihis 27th ---da o{___.___au�Ust ;_- , 19 77., before me,a notar
<br /> Y y public in and for said County, personally came
<br /> the above•named "
<br /> Mark A. Jensen and Rose E. Jenspn, husb?n�+ ar� rr��e "'
<br />� tn me wel�knnw�to be the id t�ca� Prson e� ,. s �2re a"...ed i :!:.:���.c ,c; � , _.,b.,a'c��;E��,.,,,�„�„„iy,;,;; �
<br /> or she,severaliy acknowledge, e s �nstrume� e� ere ;to be their voluntary act antl deetl.�
<br /> y,�:
<br /> � =TATE OF '�
<br /> � WITNESS mv hand and Noiarial t�Oqnrplt�y�rla vq�w r� , .� / >
<br /> ' . .r�� �---- ��y�y� .4,....-� —
<br /> . : � . . . . . .„�,�'4".r.�'� � ._.---�'_=r_� .
<br /> 1 . 29th Noiary Puhiic
<br /> � My cammission expires on ihe day of S2ptembeY'�=-19.]�. M 5r, �
<br />� �
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