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<br /> �'r" t�fj�5(�'� EX�'`ANDA�L� MORTGAGE �1n210 3
<br /> ASSIGNMENT OF RENTS Loan No.__.______.____
<br /> KNOW ALL MEN BY THESE PRESENTS:That James S. Pascoe and Deni se f�1. Pascoe, husbdnd and �!i fe
<br /> (hereinafter called the Mortgagors)in consideration of tt�e sum of
<br /> Twenty-Four Thousand Three Nundred and no/100--------------------- Dollars(S24 300.00----)
<br /> loaned to Mortgagors, do hereby grant, bargain, sell and comey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOG�IATION of Omaha.
<br /> Nebraska, (hereinaftar called "Commercial"), its successors and assigns, the following described real estate, situated in the County of,
<br /> Hdll State of Nebraska, to-wit: � ,
<br /> lots seventy-two (72} and seventy-three (73) of "Hawthorne Place", located
<br /> on part of the Northwest Quarter (NWq) of Section twent�-two (22), in
<br /> Township eleven (11) North, Range nine (9) 41est of the 6th P.h1., Hall
<br /> County, Nebraska.
<br /> TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns,forever.
<br /> Saitl Mortgagors hereby covenant with said Commercial, its successors antl assigns, that Mortgagors are lav�fully seized of said premises„that
<br /> they are free from encumbrances, and that they will forever warrant and defend the title to saitl premises against the lawiul claims o(all persons
<br /> whomsoever.
<br /> Providetl; nevertheless, these presents are upon the foliowing conditionr.
<br /> That whereas the said Mortgagors as members of Commercial have this tlate executed a note evidencing such loan antl agreeing to repay said
<br /> sum of money, with interest, in payments as set forth in said note and have agreed to abide by the terms of said note and Charter and By•Laws of
<br /> CommerciaL
<br /> That whereas this mortgage shall secure any atlditional advances, with inte�est,which may, at the option of Commercial,be made by Com-
<br /> mercial to the undersigned Mortgagors or their successors in tit�e for any purpose,at any tiine before the release and cancellation of this mortgage,
<br /> but PROVIDEfl, HOWEVER, at no time shall the aggregate principal amount secured by lhis mortgage,being the amount due at any time on said
<br /> original note and any additional advances made,exceed an amount equal fo 110 percent of the amount of Ihe origin2l note,but in no event shali
<br /> said note exceed the maximum amount permitted by law,and PROVIDE�,NOWEVER,that nothing herein contained shall be consideretl as limiting
<br /> the amount that shall be sewred hereby when advanced lo protect the securify or in accoNance with covenants coniainetl in the mortgage.
<br /> v Now, if the said Mortgagors shali pay or cause to be paid the said sums of money when due,as set forth in said note,and any other note for
<br /> additional advances made until said debt is fully paid with interest, then these presents shall be void;otherNise, to be antl remain in full force and
<br /> effect;hut if default should be made:
<br /> (a) ln any of the payments due on said note, and any oiher note for additional advances made,as therein agreed to be made for three months,or
<br /> �b) in keeping the impmvemenis bn said preinises insured against !oss by reason o( fire, IighNing,and other hazartls included,in extended ,
<br /> ceverage in�,:rance in an amcur�t not less thaii the unpaid balarce o� saiu inortgage loar�, in a company or co���panies aaz�table iu Cort-
<br /> merciai, the original of such policy o� policies to be held by Commercial, and wf ih a mortgage clause attached to said policy or policies,
<br /> in(avor o(Commerciai;or
<br /> ;� (c) In the payment of taxes and assessments levied upon said premises,or on this mortgage, before they are delinquent;or
<br /> � (tl) If the�e is any change in the ownership of the real estate mortgaged herein, hy saie,either outright or by fand contract,or by assignment of
<br /> any interest thereon or otherwise;
<br /> theo, in any of the above sei-forth events, the whole indebtedness hereby securetl shali, at the option of Commercial, immediately become due and
<br /> payabie without further notice,and the amount due under said note antl any other note for additional advances made shall,from the date of the exercise
<br /> of saitl option,bear interest at the maximum legai rate per annum,and this inortgage may then be foreclosed to satisfy lhe amount due on said note,and
<br /> aoy other note for additional advances,together with alI swns paid by Commercial for insurance, taxes,assessments and abstract extension charges,
<br /> with interest thereon irom the date of payment at the maximum legal rate.
<br /> PROVIDED that in no event, either hefore or after default, shall the interest due under said note and this mortgage and any other note for ad-
<br /> ditionai advances made exceed the maximum lawfui interest rate.
<br /> PROVIDED,furtlier,that in the event that default occurs in the making of the payments due on said note,and on any oiher note for additiona!
<br /> advances, as therein agreed to be made, or in keeping the premises insured, as above provided,or if de(ault be made in the payment of the taxes
<br /> or assessments levied upon the premises above described or upon this mortgage, before #hey are by law delinquent, Commerc'ial shall be entitled
<br /> ta the immediate possession of ihe premises above described. fogether with ali rents, oroceeds and issues arising ouf of the premises,aud may
<br /> , fn its tliscretion use the rents so far as it deems necessary for the purpose of making repairs upon the premises and for the payment of insu�ance
<br /> `• ' premiunis, taxes and assessments upon such premises,and for necessary expenses incurred in renting said premises and coliecting rent therefrom,and �
<br /> to apply same on said note and any notes evidencing future advances hereunder until the indehiedness secured is fully paid;and ior such purposes,
<br /> the undersi;n?d does hereby sell, assigr, set over ard transfer unto Ccmmerc�al all oE said rents,proceeds and incomes including any land contract
<br /> payments due mortgage owners or any other incomes of any type whatsoever from said property to 6e appl ied on the notes above-described;but said
<br /> Commercial shall in np case he liable for the failure to procure tenants,tu coilect rents,or to prosecute actions to recover possession oi said premises.
<br /> The Mortgagors further appoint Commercial of Omaha, Nebraska, their attomey in fact, giving said attomey power irrevocably,eiLher on its own
<br /> name or Mo�tgagors'names to take all necessary steps for proceedings in couri or otherwise, to cause said premises to be vacated,to collect renfals
<br /> or other incomes due,and when vacant,to relet the same, to make ali reasonable repairs antl pay taxes out of said ren(s,profits,contract payments or
<br /> incomes and to do all such ihings either by its own officers or by other parties duly authorized and appointetl by it,as its agenl for saitl purpose,and
<br /> to charge or pay a reasonable fee for such serdices,all o(the above io be done at such times antl in such manner antl on such terms as to their said
<br /> attomey may seem best,with fuil power of suhstitution.
<br /> The P.ortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is inade a party to any suit or proceeding relating
<br /> to the hereinbefore described real estate, or to this mortgage or said note or notes,other than a foreclosure instituted by Comtnercial,PAortgagors will
<br /> reimburse Commerciai ior ali reasonabie cosis�r�curr�d by CcT^2rcia'm sa tl suit or p;ecee�+ing. The h^orlgagors further agree Ihat if th�hereuibefore
<br /> described real estate or any part thereof be condemned under the power of eminent domain,or is otherwise acquired for a public use, the damages
<br /> awarded, the proceeds for the taking,and for the consideration for such acquisition to the extent of the ful I amount oi the remaining unpaid indebted-
<br /> ness securetl 6y this mortgage,be, and they hereby are,assigned lo Commercia�and shail be paid forthwi,th'1 Commercial lo be applied on account of �
<br /> the last maturing installments of such indebtedness. % 9
<br /> Dated this ��rd day of S@rtcrqbar , i9 77 \;j �,.� / � �
<br /> � . . . �,.�...�T p��cpirc nF; ��--=�^"�----'•--�•,.-.-..} 1�/'/:%'Yr�2-> _l- U /✓%�.,�J'.: . � . . � .��
<br /> �_�����i_��'L.---� J,ames S. Pascoe ---------------- i
<br /> ✓ i�l <� t.-.s. ;l� �c� u�.,.� _
<br /> � � � � Deni se t^. Pascoe � � � � ,,�� ._ q_„� �
<br /> t STATE OF NEBRASKA � - � '
<br /> . .. S5. . . —___—___—__' �, :.°t,� �.
<br /> COUNTY OF Hdl� y
<br /> JIC ,
<br /> On this 22r1d __ day of___S�pt'E�ber__:, 19 77, before ine, a notary public in and for said County,personally came
<br /> the above•named " :^����
<br /> James S. Pascoe and Denise M: Pascoe, husband and wife
<br />�. � to me weii known to 6e the idenhcai�person or persons whose name is�ur names are aifixeo ao iiie au�ve wcilgage as g�anlor m grerw�s an�t,���y.hc �
<br /> �;sh�,se�erally�c�nortl2dge the said ins. ^ ^� , oC�Ji:10G.bi1C:°�.L..H:-.te. `; ��olu^tary ac:�rd de:d.
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<br /> HRR{3tD G. RlCHT►H 7 / �-�-�'"—�----`�
<br /> WITNESS my hand and Notarial Seal this d �last aG�AI�RR1eiNQT�Y �-�j^���`!��v�.,2
<br /> �IALE�F N�BRASKA �?�-�"" __._ ..
<br /> pp� 29, 19T9 Notary Public
<br />� � My commission expires on the 29t _�_, 1974. M �� �
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