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<br /> � ( ��(� f:XPANDA�3LE MORTGAGI� �
<br /> ^ � � ASSIGNMENT OF RENTS I.o.�i� r�; "•13230-7
<br /> � KNOW ALL M[N BY THESE PRESEN7S: That Craig C. Burchess and F�1ary [. [iurchess, husbanci and wi fe
<br /> (hereinaiter called the Mortgagors)in consideration of the sum ot
<br /> Twenty—�line Thousand Four Ilundred Fifty and no/100---------------- Doliars(5 29>450.(t!1----)
<br /> loaned to Morlgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDLRAL SAVINGS AND LOAN ASSOCIF�TION o(Omaha,
<br /> , � Nebraska: (hcreinafter called "Commercial"), its successors and assigns, the following described real estate, situated in ihe County ot,
<br /> Ha 11 State of Nebraska, to-wit:
<br /> Tlortherly 43.7 feet of Lot eight ($) in Block six (6) of Spaulding and Gregg's
<br /> Addition to the City of Grand Island, Hall County, "debraska.
<br /> TU HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns,forever.
<br /> Saitl Morlqagors hereby covenant with said Commercial, its successors and assigns, that Alortgagors are lawfully seized of said premises,that
<br /> lhey are free iroin encumbrances, and that they will torever warrant and tlefend the title to said premises against the lawful claims c,l atl persons
<br /> wh om soever.
<br /> Provided,nevertheless, these presents are upon lhe following conditions:
<br />� Th2t whereas lhe said Mortgagers as members of Commercial have this date executed a note evidencing such loan and agreeing to repay said
<br /> sum ot money, with interest, in payments as set i��rth in said noke and have agreed to abide by the terms of said note and Charier and By-Laws of
<br /> ConunerciaL
<br /> That wheieas this mortg�ge shall secure any additional advances,with interest, which may, at the opliun of Cn�unir�rial.he niade by Conr
<br /> ioercial tu lhe midersigned Mo�lgagors oi lheir successors in title for auy purpose,at any time�efore the release autl cancellation r,(this morlg2ge,
<br /> bul PIZOVIUCD,HpWEVER, at no time shall the agg�egate principal amount secured by lhis mortgage,being the arriount due af any time on said
<br /> nnginal note and any additional advances made,exceed an amount equal to 110 percenl of the amount of the original note,Gul in no event shali
<br /> said nnte exceed the rnaxinmin arnount permitted by law,and PROVIDED,HOWEVER,that nothing herein contained shall be cousidered as limiting
<br /> [he amouni that shall 6e secured heieby when advanced to protect the security or in accoNance with covenants conlained in the mortgage.
<br /> P�ow, if the said �dortgagors shall pay or cause to be paid tlie said sums of money when tlue,as set forth in said note,antl any other note for
<br /> additional advances made until said debt is fully paid with interest, then these presents shall be void;otherHise,to be and remain in full force and
<br /> � et(ect;but if defautt should be made:
<br /> �al in any of lhe payments due on said note, and any other note for atlditional advances made,as therein agreed to be made for thiee months,o�
<br /> (bl In keeping the improvements on said premises insured against Ioss by reason o( fire, lightning, and other hazards inciuded in extended
<br /> coverage insurance in an amount not less than the unpaid halance of said mortgage loan, in a company or compan�es acceptable to Com
<br /> � mercial, the original of such policy or policies to be held by Commerciai, and with a murtgage clause attached to said policy or policies,
<br /> in favor of 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 /> (d) If there is any change in 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 ol the above set-forth events, the whole indebtedness hereby secured shall, at the option of Commercial.immediately become due and
<br /> p;ry.il,ic wilhnu� (ni�her notice;antl lhe amount due under said Oote and any other note(or atlditional advances made shall, from thi�A;�Ic nf�fie exr,tcise
<br /> af s�ud o��linu,bc,u mlcict;l��I IIiC niaxnnuni legal r�ti'pm,mmnu,and�liis nw�lgage m�iy llu�n Iw tuicClOsad�0 5,tlisfy Ihr amuuid dur wi�;�ud nnfc,2ut)
<br /> auy olliei uule tui additional adv<lnces, togelher w�th all suins paid by Connnercia�(oi insurance, Iaxes,assessnients and ahslraci extension cliarges,
<br /> � wiih interest thereon(rom the dale oF paynient at lhe maximum legal rate.
<br /> !` PROVIU[D thaf in no event, either before or after default, shall the interest due under said note and this nwrtgage and any o�her note(or aA-
<br /> � �� � dltional advances matle exceed the maximum lawful inleresl rate. � �
<br /> Y
<br /> r PROVID[D, further, that in the event that default occurs in the making of ihe payments due on said note,and on any olher note lor addilional
<br /> advances, as therein agreed to be matle, or in keeping Ihe premises insured, as a6ove providetl,or if tle(aulf be made in Ihe payment o(ihe taxes
<br /> i or assessments levied upon the premises above described or upon this mortgage, before they are 6y law delinquent, Commercial shail be entitled
<br /> to the immediate possession ot the premises afwve-described, togeiher witn all rents, proceeds and issues arising out.o(the premises,and may
<br /> � in its discretion use the rents so far as it deems necessary for the purpose of making repai rs upon the premises and for the payment of insurance
<br /> premiums, taxes and assessments upon such premises, and for necessary expenses incurred in renting saidpremises and collecting rent therefrom,and
<br /> to apply same on said note and any notes evidencing tuture advances hereunder until the indebtetlness secured is fully paid;and for such purposes,
<br /> � the untlersigned does hereby sell,assign, set over and transfer unto Commercial all of said rents,proCeeds and incomes including any land contract
<br /> y; payments due mortgage owners or any other incomes ot any type whatsoever from said property to be applied on the notes above-described;but said
<br /> Commerciaishall in no case be liable for lhe failure to procure tenants,to collect rents,or to prosecute actions to recover possession of said promises.
<br /> The Morlgagors further appoint Commercial of Omaha,Nebraska, their attomey in fact, giving saitl attorney power irrevocably,either on its pwn
<br /> name or Mortgagors'names to take ail necessary steps for proceedings in court or otherwise, to cause said premises to be vacated.to collect rentals
<br /> or other incomes due,and when vacant, to relet the same,lo make all 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 officers or by other parties duly authorized antl appointed by it.as its agent for said purpose,and
<br /> to charge or pay a reasonable fee for such services,all of the above to he done at such times and in such manner and on such tenns as to their said
<br /> #' attorney nsay;r.em best,with full power ol substitution.
<br /> Tlw Mortgagors fiereby agree that if Cummerciai either voluntarily m involuntarily becomes or is made a party to any suil or piocee0ing relatiag
<br /> to ilie hereinbefore tlescribed real estate,or to this nwrtgage or said note or noles,other than a foreclosure insiiluted by Comineraal,Moitgagors wili
<br /> reimburse Commercial for all reasonable costs incurr¢d by Commercial in said suit or proceeding. The Mortgagors further agree that if the heieinbefore
<br /> described real estate or any part thereo( be condemned under the power of,eminent domain,or is otherwise acquired for a public use. the damage�
<br /> e awarded, the proceetls for the taking,and for the consideration for such acquisition lo the extent of the full amount o(the remaining unpaid indebted-
<br /> ness secured by this mortgage,be,and they heteby are,assigned to Commercial and shall be paid Farthwith to Commercial to be applied on accouni of
<br /> the last maturing instatlments of such indebtedness.
<br /> Dated this�_ 24th day of Se�tember , 19 ��.
<br /> ; � __ _ � �- �� �
<br /> _, _ ; ���c��,e-a.-a.---
<br /> iFM11�F+tE�Pk��F.-�0f. � -- ._ ----�
<br /> ( ��_.:.-----�"'�� ��az _ Burchess
<br /> � �_---'-- --- ) ,
<br /> � � � � � � /'/��'z E;�. ��.�'�-�G-'�LC"i�,�>,2��y.� --�---- �
<br /> i
<br /> ---- , . Mary � Burchess ` � '
<br /> _.. "'"�d ,
<br /> STATE OF NEBRASKA rM c,�,:•
<br /> L ss_. . ---------- °: � .a�
<br /> COUNTY OF Hall
<br /> n,, �h,s 29th day�� _September ___, 19 _��, befcce;re, a nctary public in and for said Cnunty ,�crsonally came
<br /> Um a6irv�•n.uncAl � '
<br />� Craig C. [iurehess and Mary E. 6urchess, husband and vrife
<br /> to me well known to be the identical person ot persons whose name is or names are attixed to the above mortgage as grantor or g�antors antl they,nu
<br /> , oi she;severaily acknowledge the said instrument and the execution thereof,to be ttieir voluntary act and deed. —�
<br /> . �_...-7 ��- �-- ,___
<br />� WITNkJS myhandand Notanal Sea li.uru. '/ �� �__f ..� - '--
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<br /> My commiss�on expires on the _ � ------ ly _:=.. M'"
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