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<br /> 7�_'��57�� E ��A�?4�TDA�3LE 1VI�R�'G�G�
<br /> ASSIGNMENTOF RENTS LoanNo._ 8jg�31-5
<br /> KNOW AtL MEN 6Y TN�SE PRESENTS:That Kevin J. Kirkland and Helen J. K.irkland, husband and wife
<br /> (hereinaiter called the h"artgagors?in censide�a#ion of the sum of
<br /> Forty-Three Thousand Six Hundred Fifty and no/i00----------------- Dollars(s43,650.00----)
<br /> � (° loaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br /> Netiraska, (hereinafter called "Commeroial'), its successors and assigns, the foliowing described reai estate, situated in the County of,
<br /> Nal l State of Nebraska,to-wit
<br /> Lot five (5) Island Acres No. 9, being a subdivision of Lot 22, Island Acres ,
<br /> Subdivision, in Grand Island, Hall County, Nebraska.
<br /> TO HAVE ANO TO HOLD THE SAME; with the appurtenances thereunto belonging, unto Commercial, its successors and assigns,forever.
<br /> Said tvlortgagors hereby covenant with said Commercial, its successors and assigns, thaf Mortgagors are lawfully seized of said premises,that
<br /> they are free irom encumbrances;and that they will forever warrant and defend the title to said premises against the lawful claims oi all persons
<br /> whomsoever.
<br /> Provided,nevertheless,these presents are upon the following conditionx
<br /> That whereas the said Mortgagors as members of Commercial have this date executed a note evidencingsuch loan andagreeing fo repay said
<br /> sum oi 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 dy•Laws of
<br /> Commerci aL
<br /> That whereas tfiis mortgage shall secure any additional advances, with interest,which may, at the option oi Cominercial,be maGe 6y Ccrr
<br /> mercial to the undersignetl Mortgagors or Uieir successors in title for any purpose,at any time before the release and cancellation of tnis mortgage,
<br /> but PROVIDED, NOWEVER,at no time shall the aggregate principal amoun!secured by this mortgage, being the amount tlue at any time on said
<br /> original note and any additional advances made, exceed an amount equal to 110 percent ot the amount of the original note,but in no eventshall
<br /> sald note exceed the maximum amount permitted by taw,and PROVICIED, NOP�EVER, tliat nothing herein contained shall be considered as limiting
<br /> ihe amount that sha11 be secured hereby when advanced io protect the security or in accordance with covenants containetl in the mortgage.
<br /> Now, if the said Mortgagors shzll pay or cause to be paid (he said sums of money when due,as set forth in said note,ard any other rote for
<br /> atlditional advances made until said debt is fully paid with interest, lhen these presents shall be void;otherNise,to be and remain in fuil iorce and
<br /> effect;but if defauit should be made;
<br /> (a} In any of the payments due cn said 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 of fire, lightning, and other hazards includetl in exlended
<br /> coverage insurance in an amount not less than the unpaid balance of said mortgage loan, in a company or companies acceptable to Com-
<br /> mercial, the originai oi such policy or policies to be heltl by Commercial, and with a mortgage clause atlached to said policy or policies,
<br /> in favorof Commercial;or
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<br /> (c) lu the payment of iaxes 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 estaie mortgaged herein, by sale,either outright or by land contract,or by assigmnent of
<br /> any interest thereon or otherwise;
<br /> then, in any of lhe above set-forth events, the whole indebtedness hereby secured shall,at the option of Commercial,immediately become due and
<br /> payabie without furthe�notice,and the amount due under said note and any other note for additional advances made shall,from the date of the exercise
<br /> of saitl option,bear interest ai the maximum legai rate per annum,and this mortgage may then be foreclosed to satisfy the amount due on said note,and
<br /> any other note for atlditional advances, together with ail sums paid by Commercial for insurance, taxes,assessmenis and abstract extension charges,
<br /> with interest thereon from ihe date of payment at the maximum legal rate.
<br /> PROVIDED that in no event, either l�efore or after default, shall the interest due untl?r said note and this mortgage and any other note for ad-
<br /> tlitional advances made exceed the maximum lawful interest rate.
<br /> PROVIDED,further, that in the event that default occurs in ihe making of the payments due on said note,and on any other note for additional
<br /> advances, as therein agreed to be made, or in keeping the premises insured, as above provided,or if default be made in the payment of the taxes
<br /> or assessnients levied upon the premises above describetl or upon this mortgage;before they are by law delinquent, Commercial shall be entitled
<br /> lo the immediate possession of the premises above�described, togelher with all rents, proceeds and issues arising ouY of the premises,ai�d may
<br /> in its discrelion use the rents so far as it deems necessary for the purpose of making repairs upon the premises and for the payment of insurance
<br /> premiums,taxes and assessments upon such premises,and for necessary expenses incurred in renting said premises and collecting rent 'therefrom,and
<br /> i . 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 untlersigned tloes hereby sell, assign,set over and transfer unto Commercial all of said rents,proceeds and incomes inciuding any land contract
<br /> payments due mortgage owneis or any other incomes of any type whatsoever from said property to be applied on the notes above-descn6ed;bu[szid
<br /> Commercial shali in no case be liable for the failure to procure tenants,to col lect rents,or to proseate actions to recover possession of said premises.
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<br /> The Mortgagors further appoint Commercial of Omaha, Nebraska, iheir attorney in fact, giving said attorney power irrevocably,either on its own
<br /> name or Mortgagors'names to take all necessary steps for proceedings in court or otherwise, to cause said premises to be vacated,to coilect rentals
<br /> or other incomes due,and when vacant, to relet the same,to make all reasonable repairs and pay taxes out of said rents,profits,contract payments or
<br /> incomes and to do all such lhings either by its own officers or by other parties duty authorized and appointed by it,as its agenl for said purpose,and
<br /> to charge of pay a reasonable fee for such services, all of the above to be done at such times and in such manner and on such terms as to their said
<br /> attorneymay seem best,with full power of substitu(ion.
<br /> The Mortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a party to any suit or proceeding relating
<br /> to the hereinbefore described real estaYe,or to this mortgage or said note or notes. other lhan a foreclosure instituted by Commercial,Morigagors wifl
<br /> reimburse Coinmercial for ali reasonable costs incurretl 6y Commercial in said suil or proceetling. The Mortgagors further agree that i(the hereinbefore
<br /> descritied real estate or any part thereof be contlemned under the power of eminenl domain, or is otherwise acquired for a public use, the damages
<br /> awarded, ihe proceeds for the taking,and for the consideration for such acquisition to the extent of the full amount of the remaining unpaid indebted-
<br /> ness secured by this mortgage, be,and lhey hereby are,assignetl to Commercial and shait be paid(orthwith to Commerciai to be applietl on account of
<br /> ' the last maturing installments of such intlebtedness.
<br /> Dated this_.�.�th tlay of.—S.£:.p_�SIII�?E�_—,19�_.
<br /> � ,��+-r G "��` � �c< '� . .
<br /> IN THE PRESENCE OF: � ----------
<br /> Kevin J."Kirkland
<br /> �v *.�.!/.tJ�� �_cG��/.. l.. _ --- � �
<br /> --- --- len J. Kir'(jand . `- �'
<br /> � , STATE OF NEBRASKA , — ----- � � �j
<br /> COUNTY OF Hdl l ss. ,
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<br /> On this._--�9.#.}l.._day of...:_�S£A_��IlI�S'.l____, 19 71._, before me, a notary pu6lic in and for said County,personally came '-� '` <
<br /> Lhe zbc:�e-n2m.ed
<br />� Kevin �l. Kirkland and Helen J. Kirkland, husband and wifie
<br /> - ---�- .
<br /> to me well known to be the identi al p son or p�ppc$y RI�t1�6R�r na es a�2 afiixed to the a6ove mortgage as grantor or gran.crs antl they,he
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<br /> or sfie,severaUyacknowletlge the aid strument a����ec�y�qrA�yereof; be their voluntary act and deed.
<br /> �f'kTE OF�hEB��197g ....--� ��'_ , . _
<br /> WITNESS my tiand and t3otaiial Sz ��ti ��l�����������,,��''Y���� �`
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<br />� � � � Notary Public
<br />_�-'� My commission expires on the 29th day of�S.e}]:tPtll�l'.t"_.—, 19 J�_.. �d-50
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