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<br />�, � ��_ 0C1�5835
<br /> EXPANDABLE MORTGAGE
<br /> ASSIGNMEN7 OF RENTS Loan No. 87324G-2
<br /> KNOVV ALL MEN BY THESE PRESENTS:That Tewfi k S. {;awa and Janet P. Kawa, husband and wi fe
<br /> hereinafter called the Morigagors)in consideration of the sum of
<br /> Fifty-Three Thousand Five Hundred Fifty and noS1�J0----------------Dollars(3 53,550.00--- )
<br /> � loaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION ot Omaha,
<br /> Nebraska, (hereinafter called"Commercial"), its successors and assigns, the following described real estate, situated in the County oi,
<br /> Hal l State of Nebrasica,to-wit:
<br /> Lot Three (3)> Block Two (2) in Ylestroads Estates Second Subdivision located
<br /> in the'Northwest Quarter of the Northeast Quarter (N1�J4NEn) of Section
<br /> Thirty-Five: (35}, Township Eleven (11) North, Range Ten(10) tJest of the 6th
<br /> P.M., Ha1T County, Nebraska.
<br /> f
<br /> ��.�. . . . � . . � . � .
<br /> i TO NAVE AND T0 HOLD THE SAME, with lhe appurtenances ihereunto belonging, unto Commercial, its successors antl assigns,forever.
<br /> Said Mortgagors herehy covenaat with said Commercial, its successors antl assigns, that Mortgagors are lawfully seized of said premises,that
<br /> ; they are free from encumbrances, and that they will forever warrant and tlefend the title to said premises against the law(ui claims of all persons
<br /> � whqmsoever.
<br /> Provided, nevertheless, these presents are upon the following conditions
<br /> That where2s Yhe said �Aortgagors as members of Commercia! have this date executed a note evidencing such toan and agreeirtg torepay said
<br /> surn of money, with interest, in payments as set (orth in said note and have agreetl to abide by the terms of said note and Charter and By-Laws of
<br /> '` CommerciaL '
<br /> That whereas this mortgage shall secure any additional advances, with interest, which may,at the option of Commercial,be made by Com•
<br /> mercial to the untlersigned Mortgagors or their successors in title fur any purpose,at any time before the release and cancellation of this mortgage;
<br /> but PROU�DED,HOWEVER,at no time shall the aggregate principal amount secured by this mortgage,being the amounf tlue at any time on said
<br /> original note antl any additional advances made,exceed an amount equal to I10 percent of the amount of the original note,but in no event shaH
<br /> said note exceed the maximum amount permitted by law,and PROVIDED,HOWEVER,that nothing herein contained shall be considered as limiting
<br /> the amount that shall be secured hereby when advanced to protect the security or in accordance with covenanls contained in the mortgage.
<br /> Now, if #he said Mortgagors shall pay or cause to be paid the said sums of money when due,as set forth in saitl note,and any other note for
<br /> additional advances'made until said debt is fully paid with interest, then these presenis shatl be void; other,vise,to be and remain in full force and
<br /> effect;but if defauit shoultl be made:
<br /> (a) in any of the payments due on said note, and any other note for atlditional advances made,as therein agreetl to be made(or three months,or
<br /> (b) In keeping the improvements on said premises insured against loss by reason of fire, lightning, and otherhazards includetl in extended
<br /> coverage insurance in an amount not less than the unpaid balance of said mortgage)oan, in a company or companies acceptable to Com�
<br /> mercial, the original of such policy or policies to be held by Commercial, antl with a mortgage clause attached to said policy or policies,
<br /> °� in favor of Commercia l;or
<br /> (c) Inthe�ayment of laxes and assessments levied upon said premises,or on this mortgage,before they are delinquenh,or
<br /> (d) If there is any change in the ownership of the real estate mortgaged herein, by sale,either outright or by land cuntract,or 6y assignment of
<br /> any interest thereon or otherwise;
<br /> then; in any of#he abave set-forth events, the whole indebtedness hereby secured shall, at the option of Commerciai,immediately become due and
<br /> payable without further notice,and the amount due untler said note and any other note for additionai advances made shall, from the date of the execcise
<br /> *. bf said option, bea�interest at the maximum legal rate per annum,and this mortgage may then be foreclosed to satisfy the amount due on said note,and `
<br /> any other note for additiona�advances, together with all sums paid by Commercial for insurance,taxes,assessments and abstract extension charges,
<br /> with interest thereon from the date of payment ai the maximum legal rate. �
<br /> PROVIDED that in no event, either before or aft�r detault, shail the interest due under said note and this mortgage and any other note for ad-
<br /> tlitional advances made ezceed the maximum Iawful interest rate.
<br /> ' PRQVIDEO,further, that in the event that default 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 niade, or in keeping the preniises insuretl, as above provided,or if default be made in the payinent of the taxes
<br /> or assessments'levied upon the premises above described or upon this mortgage, before they are by law delinquent, Commercial sMall he entiUed
<br /> to the immediate possession of the premises above-described, iogether with all rents, proceeds antl issues arising out of the premises,and may
<br /> in its discretion 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 antl collecting rent therehom,and
<br /> ; to apply same on said�ote and any notes evidencing future advances hereuntler until the indebtedness secured is fu�ly paid;antl 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 /> ? payments due mortgage owners or any other incomes of any type whatsoever from said property to be applied on the notes above-described;but said
<br /> � Commercialshallin no case be liable for the failure to procure tenants, to collect rents,or to prosecute actions to recover possession of said premises.
<br /> The Mo�tgagors further appoint Commercial of Omaha, Nebraska, their attomey in fact, giving said aitomey power irrevocably,either on its own
<br /> name'oa Mortgagors'names to take all necessary steps for proceetlings in court or otherwise,to cause said premises to be vacated,to collect rentals
<br /> or otherincomes due,and when vacant, to relet the same,to make all reasonable repairs and pay taxes out of said rents,pwfits,contract payments or
<br /> + incomes and to do all such things eithe�by its own officers or by other parties duly authorized and appolnted by it,as its agent for said purpose,and
<br /> io charge or pay a reasonable fee tor such services,ali of the above to be done at such times antl in such manner and pn such terms as to their saiti
<br /> °attomey may seem best,with full power of su6stitution.
<br /> The Mortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a party io any suit or proceetling relating
<br /> do the hereinbefore descri6ed real estate,or to this mortgage or said note or notes,other than a foreclos�re instituted by Commercial,Mortgagors will
<br /> reimburse Commetcial for ail reasonable costs incurred by Cominerciai in said suit or proceeding.The Mortgagors further agree that ii the hereinbefore
<br /> deseribed real estate or any part thereoi be contlemned under the power of eminent domain, or is otherwise acquired for a public use,the damages
<br /> ; awarded, the proceeds for the taking, and (or the consideration for such acquisition to the extent of the ful l amount of the remaining unpaid indebted•
<br /> ness secured 6y this mortgage, be,and they hereby are,assigned to Commercial and shall be paid(orthwith to Commercial to be applied on account o[
<br /> , � the last maturing installments of such indebtedness. -
<br /> Dated this 6th day of_�Ct91?S_�—,19�—'�/1 /> � /�
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<br /> ' <�I ENCfi OF �-
<br /> �,r� � �Y w Kaw — ----
<br /> � , . . � � � . . � .2 / ' �� (iliC�"..�I-Q- �. �� �'�.v
<br /> Janet P. Kawa — =�'� �''
<br /> STATE OFNEBRASKA ?� � �.
<br /> COUNTY OF Hdl l ss.
<br /> �?�.,'
<br /> � On this _fit�t, `da of_October — `�
<br /> � thE above-named y � �9-3-Z-, before me, a notary pubiic in and for said County,personally came ;, �'
<br />�- - Tewfik S. Kawa and 0anet P: Kawa, husband and wife
<br /> , .�..
<br />�" fo me we!I knowo to be the identical per . _ _ +^ �ffixed io+h?ahave mortgage as grantcr er grantors and they,he
<br /> or she,severally acknowiedge the said in rum and'the n tt�the�r voluntary act and deed.
<br />�` ` ' `"'----
<br /> YIITNESS my hand and Notanai Seal this d 4 � N�� N Zg, 1979.� �/ -_—�^�,
<br /> '�8f�4..lSR
<br /> ����� - / ,�!il�-�'.���,-��/'�'��'C__.._--� t
<br />� i ` ' �Not3ty Public J
<br /> My commission expires on the 29th day of Septembet , 19�.. M-50 �
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