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<br /> UClS��4 EXPANDABLE MORTGAGE
<br /> 77- Loan No.._ 81�229-2
<br /> ASSIGNMENT OF REt�iTS --
<br /> KNOW AL�MEN BY THESE PRESENTS:That C1ark H. Krieser and Diane M. Krieser, husband and wife
<br /> (hereinafter called the Mortgagors)in consideration of the sum of
<br /> Thirty 7housand ThrQe Hundred and no/100-------------------------- Doliars(5 30,300.00----)
<br /> (, loaned to Mortgagors,do hereby grant,bar ain, sell and convey unto COMMERClAL fEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br /> � Nebraska, (hereinafter called "Commercial"�, its successors and assigns, the followl�g described real estate; situated in the County of,
<br /> Ha�� State of Netiraska,to-wit:
<br /> Lot nine (9), Block five (5} H. G. Clark's Addition to the City of
<br /> Grand Island, Hall Gounty, rtebraska.
<br /> TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unlo Commercial, its successors and assigns,fotever.
<br /> Said hlortgagors hereby covenant with saitl Commercial, its successors and assigns, that Mortgagors are lawfully seized of said premises,thaf
<br /> they are free from encumbrances, and that they will forever warrant and defend the title to said premises against the law(u( claims of al�persons
<br /> whomsoever.
<br /> Provided,nevertheless, these presents are upon the following conditions:
<br /> T6at whereas the said Morfgagors as members of Commercial have fhis dafe execufed a note evidencing such loan and 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 saitl note and Charter and By•Laws of
<br /> CommerciaL
<br /> Thatwhereas this mortgage shall secure any additional advances, with interest, which may, at the option of Commercial,6e made by Coni�
<br /> mercial to the undersignetl PAortgagors or their successors in title for any purpese, at any time before lhe release and cancellation ot this mortgage,
<br /> but PROVIDED, HOWEVfR,at no time shall the aggregate principal amount secured by this mortgage,being the amount due at any time on said
<br /> original note and any additinnal advances matle,exceed an amount equal to 110 percent of the amounl of the original�ote, huYin no event shall
<br /> said note exceed the maximum amount perrtiitted by law,and PROVI�ED,HOWEVER,that nothing herein contained shall be co�sitlered as iimiting
<br /> the amounf 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 Mortgagors shall pay or cause to be paid tl�e said sums of money when due,as set forth in said note,and any other note for
<br /> addiiional advances made until said debi is fuily paid with interest, then these presents shail be void;other,vise,to be and remain in fuil force and
<br /> effect,6utif tlefaulf shoultl be made:
<br /> (a) In any o(the payments due on said note,and any other note for additional advances made,as Iherein agreetl to be made for three months;br
<br /> (6j In keeping Yhe improvemenis on said premises insured against loss by reason o( fire, lightning, and other hazards included in exfended
<br /> coverage insurance in an amount not less than the unpaid balance of said mortgage loan, in a company or companies accepiable to Com-
<br /> mercial, ihe original of such policy or policies to be held by Commercial, and with a mortgage clause attachetl to said policy or policies,
<br /> ; in favor o(Commercial;or
<br /> (c) In the payment of taxes and assessments levied upon said premises,or on this mortgage, beiore they are deiinquent;or
<br /> (d} If there is any change in the ownership of the real estate mortgaged herein, by sale,either outrighi or by land contract,or by assignmenl of
<br /> any interest thereon or otherwise;
<br /> then, in any oP the above set�forth events, the whole indebfedness hereby secured shail, at the option oi Commercia�, immediafely bewme due and
<br /> payable without further notice,and the amount due under said note and any other note for atlditional advances made shali,from the date of the exercise
<br /> of said option,bear interest at the maximum legal rate per annum,and this mortgage may then be foreclosetl to satis(y the amount due on said note,and
<br /> a�y other note for additional ativances, together with all sums paid by Commercial for insurance,taxes,assessments and abstract extension charges,
<br /> with interest thereon from the tlate of payment at lhe maximum legai rate.
<br /> PROVIDED that in np event, either belore or after default, shail ihe interest due under said note antl this mortgage and any other note for atl-
<br /> ditional advances niade exceed the maximum lawful interest rate.
<br /> PROVIOED,further, that in the event that defaull occurs in the making of the payments due on said note, and on any other note for additionai
<br /> advances, as therein agreed to be matle; or in keeping the premises insured, as above provided,or if deiault be made in the payment af the taxes
<br /> or assessments levied upon the premises above described or upon this mortgage, before they are by law delinquent, Commercial shall be eniitled
<br /> to the irnnzediate possession of the premises above-tlescribed, together with ali renls, proceetls and issues arising out ot the premises,and may
<br /> in ils discretion use the renis so far as it deems necessary for ihe purpose of making repairs upon the premises antl for the payment of insurance
<br /> premiums,taxes and assessments upon such premises,and for necessary expenses incwred in renting said premises and collecting rent there(rorn,antl ,
<br /> to apply sarne on said note and any notes evidencing future advances hereunder unti l the indebtedness secured is fully paid;and for such purposes,
<br /> the undersigned does hereby sell,assign, set over and transfer unto Commercial all of said rents, proceeds and incomes including any land contract
<br /> payments due mortgage owners ot any other incomes of any lype whatsoever from said property to be applied on the notes above described;6ut said
<br /> Commerciaf shall in no case be liable for the failure to procure ienants,to collect rents, or to prosecute actions to recover possession of said prernises.
<br /> The Mortgagors turther appoint Commercial of Omaha, Nebraska, their 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 vacatetl,to coilect rentals
<br /> or other iacomes due, and when vacant, to relet the same, to make all reasonable repairs and pay taxes out of said renis,profits,contract payments or
<br /> incomes and to do all such things either by its own officers or by other parties duly authorized and appointed by it,as its agent ior said purpose,and
<br /> to charge or pay a reasonable fee for such services, all of the aboue to be done at such times and in such manner and on such tenns as to their said
<br /> attomey may seem best,with fuil power of substitution.
<br /> The Mortgagors hereby agree thai if Commercial either voluntari ly or involuntarily becomes or is made 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 to�eciosure instituted by Commercial,Mortgagors will
<br /> reimburse Commercial for all reasonable costs incurred by Commerciai in said suit or proceeding. The Mortgagors furthei a�ree that if the hereinbsfore
<br /> described real estate or any part thereof be condemned under the power oi eminent tlomain, or is otherwise acquired for a public use,the tlair,ages
<br /> awartled, the proceetls for the laking,and for the consideration for such acquisition to the exteni of fhe full amount of fhe remair�ing unpaid indebted-
<br /> ness secured hy this mortgage,be,and they hereby are,assigned to Commercial and shall be paid forthwilh to Commercial to he applied on account of
<br /> the last maturing instaliments of such inAebtedness.
<br /> Dated this 15t day o(__.�tOb2P , 19��. ,, �� �/ ,�
<br /> IN T ' S CE OF: �n�`�""'_ /`�` ��-,��-� ___
<br /> ���p�,/'��� �_ Clark H. Krieser
<br /> ���.�;#./�' -- /
<br /> .. . � . � � /X'��.C2�r..�.-' �. rl•..��e.-c.J __. ^*t�..�* ' � a';
<br /> — � M. Krieserr� � T
<br /> � STATE OF NEBRASKA '_ � `� .
<br /> COUNTY OF BUffd10 ss. `�-
<br /> w��."
<br /> On this T S� ;_dag of_�OCtOber' __, 19�7, befare me, a notary public in and for said County,personally came
<br /> the above-named � ^
<br /> C7ark H. Krieser and Diane M. Krieser, husband and wife �
<br /> tn me well known to be the identical persan or persons whose nanie is or naires are aifixed to the above mo�tgage as grantor c,r grantors and they,he
<br /> " or she,severaliy acknowiedge the said ins �'����e-fhejr voluntary act and deed.
<br /> � � _�
<br /> 6EEdERA 10TaRV s �..----J __� - --_ ,
<br /> W7TNESS my hand and Notarial Seal tliis d las �e�a�+t����Kp � / � � /�,����' ��
<br /> Ct�'�on Ex . Sayt, �5. lyl9 ' -�'�"�.�� P-����_-<,...� .r f
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<br /> My wmmission expires on the���'�.�L__^day of_
<br /> SPntembPr _, 191�_. f�1-50
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