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<br /> EXPANDABLE MO�t.TGAGE
<br /> ASSIGNMEt�tT OF RENTS Loan No. �13263-2
<br /> KNOW ALL MEN BY THESE PRESENTS:That Ra7 ph Ri bbl e and Susan R. Ri bbl e, husband and wi fe
<br /> (hereina(ter called the Mortgagors) in consideration of the s�m of
<br /> , �Thirty-Five Thousand One Hundred Fifty and no/700-----------------Dollars(S 35,150.00---)
<br /> loaned to Mortgagqrs, do hereby grant, bargain, sel(and convey unto COMMERCIAI,FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br /> � ` Nebraska; (hereinsfter called "Commerciai"), its; successors and assigns, the foliowing described real estate, situated in the County of,
<br /> Hdl1 State of NebYaska,to•wit:
<br /> Lot Four (4), Block Eleven {T;1) in Ashton Place, an Addition to the
<br /> City'of Grar�tl Island, Na11 County, �lebraska.
<br /> TO HAVE AND TO HOLD THE SAME, wi�i the appurtenances ttiereunto 6elonging, unto Commercial, its successors and assigns;forever:
<br /> Said Mortgagors hereby covenant with said Commercial, its successors and assigns, lhat Mortgagors are lawfully seized of said prernises, that
<br /> they'are free from-encumbrances, and that they wilf forever warrant and defend the title to saTd premises against the Iawf�l ciaims of all persons
<br /> whomsoever.
<br /> Provided, nevertheless,'these presents are upon the following conditions:
<br /> That whereas the said Mortgagors as members af Commerciai have this date execoted a note evidencing such loan and agreeing to repay said
<br /> sum bf money; with interest, in payments as set forth in said note and have agreed to abide by the terms of said note and Charterand$y-Laws oF
<br /> CommerciaL
<br /> That wh2reas this mortgage shalf secure any additionai advances, with interest,which may,at ttie option of Commerciaf,6e made by Com•'.
<br /> mercial to the undersigned Mortgagors pr their successors in title for any purpose,at any time before the release and cancellation of'this enortgage,
<br /> ;' buY PRpVIDED, HOWEVER,at no time shall the aggregate principal amount securetl by khis mortgage,heing the amount due atany time on said
<br /> original note and any additional advances made,exceed an amount equal to 110 percent of the amount of the originaf note,but in no event shali
<br /> said note exceed the maximurn amount permitied 6y law,and PROVIDED,HOWEVER,that nothing herein contained shall be consideretl as flmihng
<br /> the amount lhat shall be secured here6y when advanced to protect the security or in accordance with covenants containedio the mortgage:
<br /> Now, if the said Mortgagors shail pay or cause to be paid tlie said sums of money when due, as set forih in said note,and any other note for
<br /> additional advances made until said de6t is fully paid wiffi interest, then these presents shall be void;other,vise,to be and remain in full force and
<br /> effect;but if default shouldbe made:
<br /> (a) ln aoy of the payments due on said note, and any other note for atlditional advances made,as therein agreed to be made for three months,o�
<br /> (b) In keeping the improvements on said premises insured against loss by reason of fire, Iightning, and ather hazards includetl in extended '
<br /> coverage-insurance in an amount not less than the unpaid balance of said mortgage loan, in a company orcompanies acceptable tn Com-
<br /> mercial, the original of such policy or policies to 6e held by Commercial, and with a mortgage clause attached to said policy or policies,
<br /> in favor of Commetciai;or
<br /> (c) In the payment of taxes and assessments levietl upon said premises,or on this mortgage, 6efore 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 of the above set-forth events, the whole indebtedness hereby secured shall, at the option of Commercial,immediately become due and
<br /> payable without(urther notice,and the amount due undersaid note and any other note for atlditional advances made shall;frr�m the tlate of the ex?rcise
<br /> of said option,bear interest at the maximum legal rate pe�annum,and this mortgage may then be foreclased to satisfy ihe amount due on said note,antl
<br /> any other note for adtlitional advances,together with alf sums paid by Commercia� for insurance, taxes,assessments and abstract exiension charges,
<br /> ` with inte�est thsreon from the date of payment at the niaximum legal rate.
<br /> PROVIDED that in no event, either before or after default, shall the interest due under said note and this mortgage and any other note for ad-
<br /> ditional advances made exceed the maximum lawful interest rate.
<br /> FROVIDED,further, thai in the event that default occurs in the making of the payments due on said note,and on any other note for edditionai
<br /> advances, as therein agreed to be made, or in keeping the premises insured, as a6ove provided,or if default be made in the payinent of the taxes
<br /> oc assessments levied upon the premises above described or upon this mortgage, before they are by law deiinquent,Commerciai shall be entitled
<br /> to'the immediate possession of the premises above�described, together with all rents, proceeds and issues arising out of thepremises,and may
<br /> in its discretion use the rents so far as it deems necessary for ihe purpose oi making repairs upon the premises and for the paymenf of insurance
<br /> ; premiums;tazes and assessmenis upon such premises,and for necessary expenses incurred in renting said premises and collecting rent therefirom,and
<br /> to appty same on said note and any notes evidencing future advances hereunder untii the indehtedness secured is fully paid;and for such purposes,
<br /> the undersigned does hereby sell, assign, set over and transfer unto Commercial alf of said rents,proceeds and incomes inctuding any land contract
<br /> payments due mortgage owners or any other incomes of any type whatsoever from said property to be apptied on the notes above-described;but said
<br /> Commercial shail in no case be liable for the failure to procure tenants,to colleci�ents,or to prosecute actions to recover possession of said premises.
<br /> The Mortgagors iurther appoink Commercial of Omaha, Neb�aska, thefr attorney in facf;giving said attomey 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 he vacated, to collect rentals
<br /> oi other incomes due,and when vacant,to relet the same,to make all reasonable repairs and pay taxes out of said rents,piofits,contract payments or
<br /> incomes and to do all such things either by its own officers or by other parties tluty authorized and appointed by it,as its agent for said purpose,and
<br /> to charge or pay a reasonabie fee for such services, aii of the a6ove to 6e done at such times and in such manner and on such tenns as to their said
<br /> z attomey may seem best;with full power of suhstitution.
<br /> The Morigagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a party to any suit or proceeding relating
<br /> to the 6erein6efore described real estate,or to this mortgage or said note or notes, other tlian a foreclosure instituted by Coniinerciaf,PAortgagors will
<br /> reimburse Gommercial for all reasonab(e costs incurred by Commercial in saitl suit or proceeding. The Mortgagors further agree Uiat if the hereinbefore
<br /> described reai estate or any part thereof be condemned untler the power of eminent dornain,or is otherwise acquired for a pubiic use,tfie dan;ages
<br /> awarded; the proceeds for the taking, and for the consitleration for such acquisition to the extent of the full amount of the remaining unpaid intlebted-
<br /> ness secuted by this mortgage;be,and they here6y are,assigned to Commerciai and sliatlbe paid forthwith to Commercial to be applied on account of
<br /> the lastmaturing instaliments of such indebtedness.
<br /> Dated this 6th�__day of October __, 197Z.—.
<br /> // //--y��.�l�lJ
<br /> !N E NCE OF: .�/, ' ��-�------------
<br /> ��� Relp Ribb e /'1.
<br /> `� �' i� / /:-�t. 1 :�, ,
<br /> Su an R. Ribble � ,4 ,
<br /> �_ �t �„
<br /> STATE OF NEBRASKA �
<br /> ss. �S s:r.
<br /> �, COUN1'Y OF Ndl l
<br /> Y�t,
<br /> On this ���►__�:day of_T__.QE�Q�EsC.___, 19.7Z, before me, a notary public in and for said County,personally came
<br /> ,, ...
<br /> the above-named _
<br />�, ° Ralph Ribble and Susan P,: Ribble, husband and wiFe
<br /> io me welf known to tre the identicai persora or petsons whose narne is or names are affixed to the above mortgage as grantor or grantors antl they, he
<br /> or she,severaily acknowledge the said instrumentand the execution theteof;to be their voluniary act and deed:
<br /> '� +�.Cx'TER . _-._.�—z---.—_,
<br /> WITNESS my hand and Notanal Seal this da antl ar tast � ����' �'"
<br /> ���EIN�1�tOTARV ' � ��_. .�!�.-E�'-2'—� �
<br /> � !1'WTE Oi NEBRASriP �i��� —�ublic
<br /> ` My commission ezpires on the 29th 18�ri979 g.�, M-50
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