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<br />��"'�� EXPANDABLE MORTGAGE
<br /> � ASSIGNMEN7 OF RENTS Loan No.___._P�81.z4-6__
<br /> KNOW ALL MEN BY THESE PRESENTS:That Paulveda J. Roherts, a sinole person
<br /> ;' (hereinafter called the Mortgagors)in consi eration of the sum of
<br /> Fifteen Thousand Four Hundred and no/100-------------------------- Doilars (5�5,400.00----)
<br /> loaned to Mortgagors, do hereby grant, bargain,seli and convey unto COMMERCIAL FEDERAL SAUINGS AND LOAN ASSOCIATION of Omaha,
<br /> Nebraska, (heremafter called "Commerciai"), its successors and assigns, the foliowing described real estate, situated in the County of,
<br /> � Ha17 State of Nebraska,to-wit:
<br /> [ Southerly Seventy-Three (73) feet of Lot Five (5) in 61ock One Hundred
<br /> Forty-Two (142) in Union Pacific Railway Company's Second Addition to the
<br /> City of Grand Island, Nall County, PJebraska.
<br /> TO HAVE AND TO NOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns,forever.
<br /> Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that A7ortgagors are lawfully seized of said p�emises,that
<br /> they are iree frorn encumbrances, aad that they will forever warrant and defend the title to saitl premises agalns:the lawful clair^s of all persons
<br /> v+h orn saever.
<br /> Provided, nevertheless, these presents are upon the(ollowing conditions:
<br /> That whereas the said Mortgagors as members of Commercial have this date execu�ed a note evitlencing such luan and agreeing to repay said
<br /> sum �(money, v+ith interest, in payments as set forth in said note and have agreed to abide by the terms of said nole zntl Charter and By-Laws of
<br /> Com;rzercial.
<br /> That whereas this mortgage shali secure any additional advances, vaith interesf,which may, at the option of Commercial,be made by Com-
<br /> ' mercial to the undersigned Mortgagors or fheir successors in title for any purpose, at any time before the release and canceilation ef lhis mortgage,
<br /> but PROVIDEU, HOW[VER, at no time shall the aggregate principal a�nount secured by this morlgage,being the arnount due at any time on said
<br /> original note and any additional advances made, exceed an amount equal to i1G percent of the airount o(the originai note,but in no event shaU
<br /> ' said note exceed the maximum amount per�nitted by law,and PROVIDED.H018EVER,that nothing herein contained shall be consideretl as limiting
<br /> the amount tliat shall t�e securetl hereby vrhen advanced to protect the security or in accordance with covenants contained in the mortgage.
<br /> Now, if the said Mortgagors shall pay or cause to be paid ilie said sums of�noncy when due.as set forth in said nole,and any other note for
<br /> additional advances made until said debt is fully paid with interest, then these presents shall be voitl:othern�ise,to be antl remain in full force and
<br /> ' effect;but if default should be rnade:
<br /> !a) In any ot ihe payments due on said note,and any other note for additional advances rnade,as therein agreetl to be inade for three monrhs,or
<br /> (bi in keeping the improvernents on said premises insured against loss by reason of fire, lightning. antl other hazartls included in extended
<br /> coverage insurance in an amount not less than the unpaid balance o( said inortgage loan. in a company or companies acceptable to Com-
<br /> mercial, the original of such policy or policies to be heltl by Cominercial. antl with a mortgage clause attached to said policy or poticies,
<br /> in favor of Commercia l;or
<br /> '� (c) In the paymenl of taxes and assessmenis levied upon saitl premises,or on this mortgage,before they are tlelinquent:or
<br /> (d) If there is any change in the ownership ot the real estate mortgaged herein, by sale,elther ouhight or hy land conlract,or by assignment oi � �
<br /> any interest therec,n cr other�ise;
<br /> then, in any of the above set-forlh events. Ihe whole indebtedness he;eby secured shall, at the option of Conunercial, immediafeiy becorae due and
<br /> payaGie wilhoui(urther notice, and the amount due under said note and any otner note for addi tional ativances made shall,from fhe date of the exercise
<br /> of said option, bear interesl at the maximum legal rate per annum.and this mor(gage inay then be foreclosed to satisfy the amount due on said note,and
<br /> � any other note(or additional advances, togetlier with all swns paitl by Comniercial for insurance, taxes.assessrnents and ahstracl extension charges,
<br /> y,
<br /> with interest thereon from the date of payment at the rnaxiinum legal rate.
<br /> � PROVIDED that in no event, either before or after defauR, shall the interest due under saitl note antl this morlgage and any other note for ad-
<br /> ditinnal advances niade exceed the rnaximum lawful interesl rate.
<br /> ���� PROVIDED,further, that in Ihe event thal default occurs in the making of the ��ayments due on said no(e.an�on any other note(or atlditional � �
<br /> advances, as therein agreetl to be made, or in keeping lhe premises insured, as above provided,or If de(ault be made In the payment of fhe taxes
<br /> � o� assessments levietl upon Yhe preinises above descri�ed nr upon :hls mortgage, be(ore they a�e by law dellnquenf, Conm�ercial shall he entitled
<br /> �� to the iinrnediate possession of the premises above-descri6ed, logether with all rents, proceeds and issues arising out ot the premises,and may �
<br /> � in its discretion use the rents so (ar as it deeins necessary tor the purpose of making repairs upon the premises and for fhe payment of insurance
<br /> � premiums, taxes and assessments upon such prernlses, and for necessary expenses incurred in�renting said premises and collecting rent therefronf,and
<br /> � to appiy sair�e on said note and any noles evitlencing fufure advances hereunder unti I tfie indebtedness secured is fully paid;and for such purposes,
<br /> the undersigned does hereby sell,assign, seI over and Irans(er unto Commercial all o(said rents,proceeds and incomes including any land contract
<br /> payments due mortgage owners or any other incor�es of any type whatsoever from said property to be applied cn the notes above-descrit�ed:but said
<br /> Commercial shall in no case be liable for the(ailure to procure tenants, to collect rents.or to prosecute actions ro recover pussession of said prernises.
<br /> � The Mortgagors further appoint Connnercial of Omaha, Ne�raska. thelr attorney in facl, giving said attomey power irrevocably.either on Its ewn
<br /> name or�J�ortgagors'nanies to take atl necessary sleps for proceetlings in court or otherwise, to cause saitl preinises to be vacated,tc collect renta�s
<br /> or other incomes tlue,and when vacant.to relet the same,to make afl reasonable repai rs and pay taxes out of said rents.pru(its.conlr2cl p2yments cr
<br /> incomes and to do all such things either by its own officers or by other parties duly autharized and appointed by it.as i!s agent fo�said purpose,anC
<br /> to charge or pay a reasonable fee tor such services, alI of the above to be done at such tiines antl in such manner and on such?erns as to their said
<br /> E � attorney may seem best,wllh fuil power of substltullon.
<br /> � The Mortgagors herehy agree that i! Commercial either voluntari�y or mvoluntari I j beco,nes o� is made a pariy to an,suit or proceed�ng reiaLng
<br /> to the hereinbefore described real estate. or te this inortgage or said note oi notes. ether lhan a foreclosure iristitrited by Cariniercial.f:iortgagors�.vill
<br /> reimburse Commeicial fo�all reasonable costs incurred by Commercial in saitl sui!or proceeaing. The Pdortgagors further agree thaf if the hereinbefure
<br /> r described real estate or any part thereof be condeinned untler the power of eminent tlemain. ur is otheiwise acquiretl fcr a puhlic use.the tla!r.ages
<br /> � awarded, the proceeds for the taking, antl for the consideration for such acquisition to the extent of the full amount ot the remaining unpaid indebtetl-
<br /> � riess secured by Yhis mortgage. be,and Uiey hereby are. zssigned to Comrnerclal and shall be paid forthwith to Commercial to be ap��lied on account o(
<br /> ` � the last rnatunng install�nenls cf such indebteAness. � � ��
<br /> � 1 � ._ �!= —
<br /> � � Dated this_�5t�___day of_ �p�_�'mb_�r—, 191� i�� �,) �
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<br /> IN TH NC OF; ---i'r-=�.. _.� f�cz'- _L � Lf— 'i� �L=y—
<br /> __ --_...
<br /> / �i ���% �-,? F�aul veda J. Robet^ts
<br /> --- L�'�-�'-���r��� -- ---
<br /> STATE OF NEBRASKA --- -- ---------- � " "
<br /> �
<br /> �,;, .
<br /> SS.
<br /> __'_—.' ...._.—_.__.__._.�___.
<br /> ___.'___ .___..____.___'__._ � . N. .
<br /> ' cour�Tv oF Hal l
<br /> � On this-.--- 15th.-___.day o(____Septembel"_-_.__ . 19 ��, betore ;ne. a noiary public �n and ior sa�d Couniy.personaliy came �
<br /> the above-named �� �
<br /> Paulveda J. Roberts, a single person +� '
<br />� to m?well knnwn to I,e(he ic�� ,. ,.. . . mes are afiixed tn the ,bove mo�?eaee as era^tor or o�anto�s and tt�ev.he �.
<br /> or she,sevcrally ac6nowledge t sai instmme � ereof to be the.r vcluntary a�f and deeC.
<br /> � ue f 'urhxr �.,�---��—
<br /> � WITN ESS my hand and Notaria! S���i�����a��St�� � %' �{ ,��'� � �;_. � _�
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<br />'`� � �dy conunissian expires on lhe_----29th _--_d2y of----.-��ptem�r---. 19 Z. „ "t � � .. �
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