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<br /> 78- UUOO93 EXPANDABLE MORTGAG.E
<br /> ASSIGNMENT OF RENTS �oari N-. _._4_431.�-9 _
<br /> KNOW ALL MEN BY THESE PRESENTS That Paul R.L. Sensenbach, Sr. and Katherine C. SensenbaCh,
<br /> husband and i fe (heremaiter called the Mvrtgagors)�n consideration oi the sum of
<br /> Forty-Five T�iousand Six liundred and no/100-------------------------flouars(545,[00.�0--- �
<br /> ( loaned to Mortgagors, do hereby grant, bargam, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha.
<br /> ( Nebraska, (heremafter called "Commercial"), its successors and assigns, the following described real estate, situated in the County of,
<br /> Nd 11 State of Nebraska,to-wit:
<br /> Lot two (2) in Island Acres i,urnber 1`L, in the City of �rand Island, Hall Countv,
<br /> PJebraska.
<br /> TO HAVE AND TO HOLD THE SAME with Vie appurterances thereunto betonging unlo Go^irneicial, �ts suuessors ano assigns,forever
<br /> Said Mortgagors hereby covenant w�th sa�a Curr�nierc�<i! �ts successo�s ana assigns. that Morlgagors a�e tawfulfy se�zea o(sa�a pre�n�ses ttiat
<br /> they are tree froni encunibrances antl tha( they w�ll fn;eve� warrant antl tletena the title to saitl p�emises against the lawfuf clainis of afi persons
<br /> whon�soever.
<br /> Provitletl.nevertheless. these piesents are upon the fo!��F;w�ng cond�t�ons:
<br /> Thal whereas the saitl Mortgagors as mee:bers ot Con,�,�erna� have th�s aate ezecutetl a oo!e ev�denc,ng such loan and agree�ng to repay said
<br /> sum oi rnoney, wrth interesL in paynients as set foilh �n sa�d nnte ano h:�ve agieed to abide by Ihe terms of sa�tl note and Charter and By-Laws of
<br /> Coimr�e�cial.
<br /> That whe�eas this mm;gage sliall secu�e an� aJJ�t�:,iw'�. �,uvsi��cc;. w�[h ��nterest v,h�ch r��ay. at the�oU�iun ol Corn.merriai.be rr,atle by CGm
<br /> mercial to the untlersignetl Mmtgagois er thei� successn�s �n h[�e t�r any purnes�^ at anv t�n;e before the reiease and cancellahon of th�s a�ortgage.
<br /> but PRUVIDED HOWEVER al no hn�e shali the ag�iegate pn����pai ar.icunt sew�ed bv this emr[gage being the aviuun�aue at any time on sar�
<br /> ong�n21 note and any a0tlit�onal adva�ices n:aae.exceed an a;i�uunt equa��� to 11U percent uf the amount of fhe oi�g�ndl note. but m no event shal!
<br /> saitl note exceetl the mazunwr amcunt penn�(ted by law ,u�a PROVI DED HOWEVER that noth�ng herem cnnta�neo shail be consitlered as hm�ting
<br /> the amount that shall be secured hereby when adva��ced tc ;;r,r,tecl the sec�n�ty nr in accordance r�fh covenants conta�nea in the mortgage.
<br /> N�w. if fhe saia Mortgagors shell {'�ay ci cause to tk� pa�G the saitl su!vs uf mnney when tlue as set foith�n sa�d note, antl any ottier note tor
<br /> add�honal advances rnaae unhi saia tlebt �s fully pa�tl with �r�lerest [hen these p�esents shal I be void_otherNise,ro be antl remain�n ful'�force anC
<br /> effecL but�f ae(ault should be matle
<br /> �a� In auy of the pay�nents due on sai0 ncde. and auy ��the� nnte for��itl�t�snai advances ma�e as the�e�n agreeo to be!r,aae for three months.or
<br /> �b� In keep�ng the improvements ru sa�a pre�n�ses insu!eu aga�nst ioss by reason of fne i�ghtning antl other ha[ards�ncluoetl�n extentle�
<br /> coverage insurance �n an amounf not iess than the unFa�d balairce nf sa�a mortgage loan �n a company or companies acceptabie to Com
<br /> nierual. ihe ong�nai of such policy a poui�es to ue heitl by Con�nneraai and w�th a mo�lgage clause attacheo to sa�tl poiicy or oolicies
<br /> in lavor of Comnierc�al: oi
<br /> c� Ir the payment of laaes and assess,ue��ts �ev�ec up„n tin�a �,�ir��; �x�s.vi un th�s n�i,�tgage befure thev are del�nau�nt or
<br /> �d� If ttiere �s any change �n Ihe owneiship of the �ea�� estate ��:r,rtgagea here�n by sale e�ther ouh�ght or by!and contract or by assignment of
<br /> any interest thereon or otherw�se
<br /> then in any of the above set�forth evems the whoie intlebteoness he�aby secureu shali at the option of Commeic�al,nnmed�atety become tlue and
<br /> payable wifhout furUier not�ce and the amounl due under sa�d note 5nd any othei note fcr atldit�onal ad�ances made shali,tiom the date cf the exerc�se
<br /> of sa�a option bear interest af the niax�mum legal rate per annum ane ttns mortgage may then be loreciosed tr,sahsfy the amount oue on sa�tl note. ano
<br /> any other note tor add�honai ativances togetrier with a�i swos pa�n uy Loiuine�c��� for ,nsur,ince taxes assessments and abstrac�extension charges
<br /> with interest thereon limn the tlate of paynient at the niax�mun�� iegai iate
<br /> PROVIDED that in no event either ppfore cr af(er tleiauit sha��� rhe nitere�st du� unde� sa�d note and(his mortgage antl any other note for ad
<br /> d�t�ona� advances ma0e exceed the max���,urn iawful �nteiest rnte
<br /> PROVIDED further.that m the event thti? tlet2u'�( occu�s i� th�� ,�a,�ug ,d !he payn,en(s due on said r��(e and on any othei ricte tor aatlit�ena�
<br /> advances as there�n agieed lo be �uaoe o� �n pee�nng the p�em.�.ses ��,nsuretl. as ab�ve prov�detl,or �.f aefa�,it be,natle�n the paY�r�ent c[the taxes
<br /> oi a55essinents �ev�ea upon (he D�em�ses abnve �:�esu,t�ec oi upon th�s n�c�tgaKe 7efo�e they are by iaw eel�nquent Commerc,�a��shel! be entitfetl
<br /> lo the �rr�mea�ate possesson cf the p�eiu�ses 2t�ve desci�t��a ti,gether w�ih a','�� �en!s u�cceeos and �ssues ar�s�ng ou!�!the pre�,nses ana r;av
<br /> m its tlisc�etion use !he renis so (a� as it aeer�s necessary tor the ;�uipose uf niaFmg iepa��s upon the p�ein�,es antl for the Gayn�eet of insurance
<br /> preni�ums taxes antl assessments upon such pren���ses anrl fr,r necessa�v ezpenses �ncu�rea �n �en(mg sa�d piem�ses antl collecUng�ent therehom anC
<br /> (o appiy sanie un said note and any notes ev�tlen:�ng future advances ne�euntler unt,i the intlebtedness secureu �s(uliy pa�tl;ana for such purpo,es.
<br /> the unde�signed ooes hereDy seii assign set over antl transfei wito C�.���m�e�aa� aii ut sa�tl ients proceeds an� �nror�es mclutling any land contract
<br /> payments due mortgage owners o� any othei �ncoiues ot any tvpe whatsocve� frum sa�0 property lo be�ppi�ea on the nutes above descr�ped�. D�t saiC
<br /> Cornmerualshall in nu case I�e i�abie to� the lailwe to procwe tenants.h� cullect rents.or to prosecute actions w recove�possession o(sa�ci premises
<br /> The Moitgagors turthei appo�nt Con�meic�ai of O�naha Nebiasqa mc�r attomey m tact giv�ng sa�u �ttorney power urevocabiv e�thei ;n�ts own
<br /> name oi Muitgagurs' nart�es ta �aKe au necessary steps I���� pi,iceeo�nqs �n rouit or utherw�se to cause saitl pienuses to be vac�ted to co��ect renta!s
<br /> Or q(hPi InCUrtleS due �nd when vaC3nt.(,� ,ele;the 53"le :c.,^3kt .l'. ..,,�7n,.,:�1 eNa',�.,drC;ld� ;t�aE., t:;,`Sd., �Luts .Jf,!S C:�nh3i_t F�nW'�enfs vr
<br /> mcumes antl to oo ail such tti�ngs e�thei by its bwn of4ceis n� by cthe�r paiUes Au�v autho��;e�+;ina appo�nle0 t�y+? as its agen;for sa�a�!u�U,»e ,�nd
<br /> to charge oi pay a re�sonabie fee lo� such serv�ces a�i ut the ahove tc: be oone at such L�ues and�n such manner;�nd on such te�e�s as tc the��sa�tl
<br /> a(tomey may seem best_with tull power et su6stiWt�r,n
<br /> The Murigagors hereby agrr.e that �t C�nu,ierc�a; e ihc� �,.�unt+i � _�r mv,iuntaniy txcrnes ei �- a�e a ar,y (��any suit�r ��� cea ng relat�ng
<br /> to MC hereinbetore descnbetl iea� estate oi �o thic ���rrtEapP�•� sd 0 i�te oi �;�Ps othe th.�� �F,iF ,��e�ns�tu1Fd trv Cu�'��e�c,i� ^�.�t��g%�is w�l�
<br /> reuAburse Commercial for all reasunabie cosls incurretl by Cuinmerc,e'=n sa�t1 su�,! :n pioceeoiny, The Id���!ga,u���s furthe� agiee that.f;hn c�ier.�Uefrre�
<br /> deScriUed real e5tate or any part thereof be ConOemned untle� !he powe� ot eminen� tloniT�n. ,�r �s ulherN�se acqi,�retl �or a oubl�c cse tne oa�r.ages
<br /> awarded_ the proceetls foi the Wk�ng an0 for the consitleratiun fui ;urn acqu�s�t�on to the extent el the !ul�amo,rnt ot the rema�n�ng unpa�e!ntlebtetl-
<br /> ness Secured by this niortgage be.end Ihey he�eby aie assigned W Ca���memai antl shan t�e pa�a torthw:th to Co��mP�r�;ii(r�hr�p�,��en�n :���rv���• ��
<br /> ihe iast rnatunng�nstaiiments o�such�ndebtetlness
<br /> Dateu uns _ ,e211 _tuy ui _ ,Id11udC'y .i/� _� � , / �
<br /> IN R NCE OF ��s- ��/ <<�T. Z�., .��.-L �?i
<br /> � Paul (' L. Sensenbach
<br /> - -_ _ _ _ �, f .; �
<br /> fiCS��-?l1LF� ��_..:�>'r�'�- �`2. fL_. �..;y . . .
<br /> . _.. . __ __..._.__ p�
<br /> --- - Y,atherine C. Sensenbach ^
<br /> STATE OFNEBRASKA � '� �.�
<br /> COUNTY OF Hal l 55 _ _ - - _ _ __ _ ,,
<br /> c^;
<br /> �� «,.� 5+h �a; �r �'�;��arl .� -,�
<br /> . .. - _ . _ .- .� i�. . Ltiwc wa. a �wta�v Vuunc n�enU�m �uiU ww�ly,venunairy�e�nr
<br /> the above-nan�ed
<br /> Paul R,L_ Sensenbach, Sr. and Katherine C. Sensenbach, husban� and wife w
<br /> to me wetl knavn to be the ident�cal DerSon or persons whose naaie is or names aie affized to the aDove rnurtgnge as granto:•x�,rant��r;:�na�hr:. ne
<br /> oi she,severally acknowledRe the � ,�pd,jpe„exeGutinn thereof tn ro mair vn��inrarv arr ann nr.on
<br /> MA�'OiD�.RH�ITf R
<br /> WITNE$$ nry hanC an0 Notanal$e I�and ye��aY(�JIgM. ` �
<br />� STATf pF NEBRASKf, �
<br /> M�y C�rrm1lMlo� F�cp. Se 29 ! ;';1 , _ ti,.,.1 ` .
<br />'-` My run�nussion expires on me . . . _..t�. . . ay o .. �°r :� 7'.� H ':
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