|
� ,
<br /> S ��.,,.
<br />'m�.� �'_,�.��.
<br />� � �
<br />�x
<br /> ���C}US�.L� ExPANDABLE MORTGAGE
<br /> ASSIGNMENT OF RENTS �oan Pdo._.4323G=3_____
<br /> K�OW�LL M�fN BY TdFiE�Fip�ESENTS:That Paul R.L. Sensenbach and Katherine P. Sensenbach,
<br /> us an an e----------------------�hereinafter cailed the Mortgagors)in consideration of ihe sum of
<br /> ' Forty—Two Thousand and no/100-------------------------------------Doliars(� 42,004.00----�
<br /> loaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br /> Nebraska, (hereinafter called "CommerciaP'), its successors and assigns, the following described real estate, situated in the County of,
<br /> � Ndl 1 State of Nebraska,to-wit
<br /> Lot One {1), in Island Acres Number 12, in the City of Grand Island, Ha11
<br /> County, Nebraska.
<br /> TO HAVE AND TO HOLD TNE SAME, with the appurtenances thereunio belonging, unio Comrnercial, its successors and assigns,torever.
<br /> Said Mortgagors hereby covenant with saitl Commercial, its successors and assigns, that Alortgagors are lawfully seized of said premises,that
<br /> they are free Irom encwnbrances, and thal they will forever warrant and de(end the title to saitl premises against the lawful claims of aif persons
<br /> whomsoever.
<br /> Provitled,nevertheless, these presents are upon the foilowing conditions:
<br /> ' That whereas the saitl Mor(gagors as memhers of Commercial have this date executed a note evidencing such loan and agreeing to repay said
<br /> sum of money, wi th interest, in payments as set forth in said note antl have agreed to abide by the terms of saitl note and Charter and By-Laws of
<br /> CommerciaL
<br /> That whereas ihis mortgage shall secure any additional advances, with interest, wtiich may, at the option of Commercial,be made by Com�
<br /> mercial to the untlersigned Mortgagors or their successors in title for any purpose,at any time before the release and cancel!ation of this mortgage,
<br /> but PROVIDED, HOWEVER,at no time shall the aggregate principal arnount secured by this mortgage, being the amount due at any time on said
<br /> � original note and any additional ad�ances made, exceed an amount equal to 110 percent of the amount o(the original note,but in no event shall
<br /> said note exceetl the maximum amount permitted by law,and PROVIDED. HOWEVER,that nothing herein containetl shall be considered as fimiting
<br /> the amount that shall be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage.
<br /> Now, if the said Mortgago�s shall pay or cause to be paid the s2id sums of money when due.as set forth in saitl note,and any other note for
<br /> additional advances made until said debt is fuily paid with iaterest, then these presents shall be void;otherNise,to be and remain in full force and
<br /> effect;but if detault should be made:
<br /> (a) In any of the paymenis due on said note, and any other note for additional advances made,as therein agreed to be made for three rnonths,or
<br /> (b) In keeping the improvements on saitl premises insured against loss by reason o( iire, lightning, and other hazards included in extended :
<br /> ccverage insurance in an ainount not less than the unpaid balance uf said mortgage loan, in a company or companies acceptahfe to Com-
<br /> merciai, the original of such policy or policies to be held by Commercial, and wi(h a mortgage clause attachetl to said policy or policies,
<br /> in favor of Commercial;or
<br /> (c) In the paymer,t of laxes and assessments levied upon said premises,or on this mortgage,hefore they are delinquent;or
<br /> (d) If there is any change in the ownership of the real estate mortgaged herein, by sale,either outright or by land coniract,or by assignment of
<br /> any interest thereon orotherwise;
<br /> r �
<br /> then, in any of the above set-forth events, the whole indebtedness hereby secured shall, at the option of Cornmercial,immediately become due and
<br /> payable without further notice, and the amount due under saitl note and any other note for addi tional advances made shall,from the tlate of the exercise
<br /> of said option,bear interest at the maximum legal rate per annum,and this mortgage may then be(oreclosetl to satisfy the amount tlue on said note,and
<br /> any other note for additional advances, together with all sums paid by Commercial for insurance, taxes,assessments and abstract extension charges,
<br /> with interest thereon from the dale of payment at the maximum legal rate.
<br /> PROVIDED that in no event, either before or after tle(ault, shall the interesf 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�he event Ihat default occurs in the making of the payments due on said note,and on any other nole for additional
<br /> advances. as therein agreed to be made. or in keeping the premises insuretl, as above provided,or ii default be made in the payment of the taxes
<br /> or assessmenis levied upon the premises above describetl or upon fhis mortgaae, before they are by law delinquent, Commercial shall be entitled
<br /> ' to the immediate possession of the premises above�described. together with aIl rents, proceeds and issues arising out o(the premises, and inay
<br /> in its tliscretion use the rents so far as it deems necessary for the purpose o(making repairs upon the preinises and for the payment of insurance
<br /> p preiniums,taxes and assessments upon such premises,and for riecessary expenses incurretl in renting said preinises and collecting renl therefrom,and
<br /> to apply same on said note and any notes evidencing future advances hereunder until the indebtedness secured is fully paid;and for such purposes,
<br /> � the undersigned does hereby seli, assign, set over and transfer unio Commercial all of said rents.proceeds and incomes inciuding any IanG contract
<br /> payments due mortgage owners or any other incomes of any type whatsoever from said property to be applietl on the notes above-descrihed; but said
<br /> Comniercialshallln no case be liable tor the failure to procure tenants,lo tollect rents,or to prosecute actions to recover possession of said premises.
<br /> The Mortgagors further appoint Commercial of Omaha. Nebraska, their attomey in fact, giving saitl attorney power irrevocably,either on its own
<br /> name or PAortgagors' names tn take all necessary steps for proceedings in court or otherwise, to cause said premises to 6e vacated. to collect rentals
<br /> or other incomes due,and when vacani, fo relet the same, to makc ail reasonable repairs and pay taxes out of said rents,profits:contract pzyments or
<br /> incoines and to do all such things either by its own officers or by other parties duly authorizetl and appointed by it,as its agent for said purpose.and
<br /> to charge or pay a reasonable fee for such services, ali of the above io be done at such times and in such manner and on such terms as to their said
<br /> aitomey may seem best,with full power of substitution.
<br /> The Moftgagors hereby agree that if Commercial either voiuntarily or involuntarily becornes or is made a party to any suit or proceeding�elating
<br /> to the hereinbefore described real estate, or to this rnortgage or said note or notes,other fhan a foreclosure instituted by Commercial,Mortgagors will
<br /> reimburse Commercial for all reasonable costs incurred by Commercial in said suit or proceeding. The P.lortgagors further agree that if the her�inbefore
<br /> descri6ed real estate or any part thereof be condemned under the power of eminent domain, or is otherwise acquired for a public use, the da!r.ages
<br /> ' awartled, the proceeds for the taking,and for the consideration (or such acquisition to the extent o(the full amount of the remaining unpaid intlebted
<br /> ness secured by this mortgage, be,and they hereby are,assigned to Commerciai and shall be paid forthwith to Con;merciai to he applied on account of
<br /> the last maturing installments of such indeb(edness.
<br /> oated tn�s 15th _day of September _, 19 77
<br /> E RE ENCE OF- —_-- --- ����_1 _ .c�.��%�--c�f._:�
<br /> _ _.
<br /> - �G�'%"�-�., ~�\ Pa�l R.L. ensenba � --
<br /> _�_�- -�__---'��'--�----_..L---'----. .p � ,�'"�:�, , ,_� �
<br /> _��.��;�� �-�' '�. ----
<br /> — -- -- Katherine P Sensenbach
<br /> e,�� , „
<br /> STATE OF NEBRASKA `� -`'
<br /> COUNTY OF Hdl l ss. ----- ----- ---- ____ — __ _ —_--- -- . * . � y' :.
<br /> �; On this____�5th____tlay of___._Sept2mbet'___ 19��._, before ine, a notary public in aad for said Coimty,personally came �- ` "�
<br /> fhe above-named j,; �
<br /> �'au7 R.L. Sensenbach and Katherine P. Sensenbach, husband and wife
<br /> � m�;.,e��k^o��m t��e'."e ide;icz' F �y� - a";xc�to": - r;,.,, .,�..�� _�.,, �.� �
<br /> . � . . , ' . be e�r volunlarv ar�and de ��a��.-�u .y� _ . , _ .... �
<br /> e� or she Severaliv acknowiedge ti�e said shi .n�and t �71iiw�� Nd.
<br /> � � � „»�"`'—,,.��----`�
<br /> BENERAI MOTARY
<br /> WITNESS nry hand and Notarial Seal this a ea �p v� � � r
<br /> tx �e 29. 1974 �`y�;t�,� �-�Z_I
<br />� � ' ����ssicrex,;rescr,'�e 29th da of SePt���__. 19_Z_�_. N�t fi�ulic _ `^-�C
<br /> arv ' ''
<br />�, uly con C ,. -------- Y J
<br />�: —
<br />�.
<br />_� �
<br />
|