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<br /> 77- ��O��376 EXPANDABLE MORTGAGE
<br /> ASSIGNMENT OF RENT$ Loan No.__,43237-6 __
<br /> KNOW ALL MEN BY THESE PRESENTS:That Dale E. Bla�k and Donna L. Black, Musband and Wife
<br /> (hereinafter called the Mortgagors)in consideration of the sum of
<br /> Twenty-Eight Thousand Five Hundred Dollars and No/100-------------Douars(528,500.00----)
<br /> IoanerJ to Mortgagors, do hereby grant bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br /> Nebraska (hereinafter called "Commerciai"), its successors and assigns, the following described real estate, situated in the County of, -
<br /> (� f�dl l Sfate of Nebraska,to-wit
<br /> � Lot Nine 9 , in Island Acres No. 7, a Subdivision of `�'
<br /> ( ) part of Fractional
<br /> Section Seven (7), part of the West Half of the West Half (W2W2) of Section
<br /> Eight (8), and part of Lot Twenty-Four (24), Island Acres, all in To�•mship
<br /> Eleven (11) North, Range Nine (9) West ofi the 6th P.M. , in the city of
<br /> Grand Island, Ha11 County, C7ebraska.
<br /> TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unro Commercial, its successors and assigns.forever.
<br /> Said Mortgagors hereby covenant with said Cornmercial, its successors and assigns, that Mortgagors are lawfully seized of said premises, lhat
<br /> lhey are free from encurnbrances, and that they will forever warrant and detend the title to saitl premises against the iawful claims of all persons
<br /> � .. .rVii0RS00VBi. . .
<br /> Provitled, nevertheless, these presents are upon the following conditions
<br /> Th&f whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing to repay said
<br /> sum of money, with interest, in payments as set forth in saitl nole and have agreed to abide by the terms of said note and Charter antl By•Laws of
<br /> CommerciaL
<br /> That whereas this mortgage shall secure any additional advances. wi(h interest, which may, at the option of Commercial,be made by Com-
<br /> mercial to the undersigned Mortgagors or their successors in title for any purpose,at any iime before the release and cancellation of this mortgage,
<br /> but PROVIDED,HpVJEVER, at no time shail the aggregate principai amount ser,ured by lhis mortgage, heing the amountdue at any lime on said
<br /> �riginal note and any additionai advances matle, exceed an amount equal l0 110 percent of the arnount of the originai note, but in no event shali
<br /> said note exceed the maximum amount permitted by law.antl PROVIDED. H0IVEVER,that nothing herein contained shali be considered as limiting
<br /> the amount that shall be secured hereby when advancetl to protect the security or in accordance with covenants containetl in the mortgage.
<br /> Now, ii the said Mortgagors shall pay or cause to be paid the said sums of nioney when due.as set forth in said note,and any other note for
<br /> additional advances inade until said debt is fully paid with interest, then these presents shall be void;other,vise,to be and remain in full force and
<br /> effect; but if default should be made:
<br /> ia) In any of the payments due on s2id note, and any other note for additional advances made,as therein agreed to be made for three months,or
<br /> (b) In keeping the improvements on said premises insured against loss by reason o( fire, lightning, and other hazards included in extended
<br /> � coverage insurance in an amount not less than the unpaid 4alance oi said mortgage loan, in a company or companies acceptabie to Com-
<br /> z mercial, the original of such policy or policies to be held by Commercial, and wi th a inortgage clause attached to said policy or policies,
<br /> in favor of Commercial;or
<br /> (c i In the payment of taxes and assessments levied upon said premises,or on this mortgage,before ihey are delinquent;or
<br /> (dj If there is any change in the ownership of the real estate,nortgaged herein, by sale,either outright or by land contract,or by assignment of
<br /> any interesl thereon or otherwise;
<br /> fhen, in any of the above sebforth events, lhe whole indebtedness hereby secured shail, at the option of Comnierciai,immediately become due and
<br /> payabVe wilhout further notice,and the amount tlue under said note and any other note for adtlitionai advances made shail,irom lhe date of fhe exercise
<br /> o(said option,bear interest at the maximum legal rate per annum,and this mortgage may Gien be foreclosed to satisfy the amount due on said note,and
<br /> any other note for additional advances, together with ali sums paid by Cornmercia� for insurance. taxes,assessments and abstract extension charges,
<br /> � � with interest thereon(rom the date of paymentat the maxiinum legal rate. � � � �
<br /> PROVIDED that in oo event, either belore or after default, shall the interest tlue under saitl no�e and this mortgage and any other note for ad�
<br /> ditional advances rnatle exceetl lhe rnaximum lawful interest rate.
<br /> PROVIDED,further, that in the event that default occurs io the making of the payments due on said note,and on any other note for additional
<br /> advances, as therein aereed io be made, or in keeping the premises insured, as above provided,or i(defaull be made in the paymen(of the taxes
<br /> � or assessments levied upon the preniises above described or upon this mortgage, hefore they are by law delinquent. Commercial shall be entitled ,
<br /> to the iminediate possession o( fhe premises above-describetl, together with all rents, proceeds and issues arisingouto(!he premises,and may
<br /> a in its tliscretion use the rents so far as it deems necessary for the purpose of niaking repairs upon the premises and for the payment of insurance
<br /> premiums,taxes and assessments upon such preniises,and for necessary expenses incurred in renting said preinises and coliecting rent therefrom,and
<br /> to appty same on said note and any notes evidencing future advances hereunder until the indebtedness secured is fully paid;and tor such purposes,
<br /> fhe undersigned does hereby sell, assign, set over and transfer unto Commercial all of said rents,proceeds anC incomes including any Iand contracl
<br /> � payments due mortgage owners or any other incomes of any type whatsoever fmm said property to be applied on Ihe notes a6ove-described; but said
<br /> Commercialshall iri no case be liable lor the failure to procure tenants,to coliecl rents,or to prosecute actions to recover possession of said premises.
<br /> The Mortgagors further appoint Commercial of Omaha, Nebraska, their atlomey in (act, giving saitl aftomey power irrevocably,either on its own
<br /> name or Mortgagors'names to take all necessary steps for proceeGings in court or otherwise, to cause said premises to be vacated,to coliect rentals
<br /> � or other incomes due,and when vacant, to relet the same,fo make aIl reasonable repairs and pay taxes out of said rents,profits,contract payments or
<br /> incomes and to do all such things either by its own otficers or by other parties duly authorized antl appointed 6y ii,as its agent fcr saitl purpose,and
<br /> to charge or pay a reasenable fee for such services,all of the above to be done a?such Iimes antl in such manner and on such tercis as to their said
<br /> altomey niay seem 6est,with full power of substitution.
<br /> The Mortgagors hereby agree that i( Coinmercial either voluntarily or involunfarily becomes or is made a party to any suitor proceetling relating
<br /> to the hereinbefore described real estate. or to this mortgage or said note or notes. other than a foreclosure insiituted 6y Commercial,Mortgagors will
<br /> reimburse Commercial for all reasonable costs incurred by Commercial in said sui!or proceeding. The Mortgagors(urther agree that if the hereinbefore
<br /> described reai estate or any part thereof be condemned under ttie power of eminent doinair,, or is otherwise acquiretl tor a public use, the da�?;ages
<br /> awarded, ihe proceetls for the taking, antl for the consideration for such acquisilion to the ex'tent of the fuli amount uf the remaining unpaid inde6ted
<br /> ness secured by this mortgage,be,and they here6y are,assigned to Commercial and shall be paid(orthwith to Commeicial to be applied on account of
<br /> the last maturing installmen[s oi such indebtedness.
<br /> ' Dated Yhis S7Xteenth__.day of��pt2fTib2r ____,191L.
<br /> IN jli`�F�S�ENCEOF'��� ..��' - � --. .----�c`�-�"-_�-���_^� .----- - -
<br /> ,�,Gc�,.��� �,�_>� -�� �' Da 1 e E. B 1 a c k
<br /> -:_—_�--�--- - -�--- - -- -------
<br /> � �.�_�4.n_�9.z=---------
<br /> -- — -------
<br /> Donna L. t3lack ,.,:w,! .
<br /> STATEOFNEBRASKA • - �,
<br /> Cout�TvoF Buffala ss. ---- -------- ..------ ' a
<br /> � V
<br /> ___ _...----
<br /> �,_' C^ thi; ___.__lE�h ___6ay of____.$e�7te�tber____ 19��.__, before me, a notary public in and tor saitl County,personaity came � '
<br /> the above named
<br /> Dale E. 61ack and Donna L. Slack, husband and wife
<br /> u To ��.� � .,� ��u� �h� �C��u� H u� �� �, p�ttt >ar Aea J ��� ��b�.�s s a�i�� � ;r�i,,,�,:o� �s � hu �
<br />� or she, snv a�ly ackn.w!_^_�e!h� ..id i�r��me�t�'tl*a �Ct,��`� �. ! be?h�ir ,.!,.,.;�, .,ct:nd d. c!. __ _..
<br /> �f N} J+t �V A Y`� ' ,�,
<br /> �='-- . ,.� / .- ----r
<br />� WITNESS m hand and Notariai Sea t �V�n� A �ab� n ni4�s � � / , t �!
<br /> Y �rtU�� .� � !/,i��l"l �`ll�_�t`"-'fy_.-'r._�
<br /> ��
<br /> � � � Notary Puhlic
<br />�^ ,� 1�1y cor?mission expiresnn She _-_-_.�_�t�l_..____d2y of_-- $ep_L.0.L�1�?Q7'-___._. !9��__. M-SC! �
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