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<br /> 78-OOOSH4 EXPANDABLE MORTGAGE
<br /> ASSIGNMENT OF RENTS Loao No. 44621-8
<br /> KNOW ALL MEN BY THESE PRESENTS:That ppn T. Lindstrom and Betty J. l�ir�tstrom husband an wife
<br /> (herema(ter called t e ortgagors3 in considero�tion o�ihe sum of
<br /> Fifty Thousand and �1o/100----------------------------------------- Dollars(E�� o�o p� ) -
<br /> loaned to Mortgagors, do hereby grant,bargam, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN AS �IA IaN o Omaha,
<br />� Nebraska. (hereinafter called "Cammercial"), its successors and assigns, the tollowing described real estate, situated in the County ot,
<br /> Hdl l State of Nebraska,to-wit:
<br /> All that part of the Southwest Quarter (SWs) of Section six (6) in Tovmship
<br /> ten {10) North, Range ten (10) Nest of the Sixth P.M., in Hall County,
<br /> Nebraska, which lies north of the right of ►vay of the Union Pacific
<br /> Railroad Company right of May, exceptin therefrom the following tractsof
<br /> 9round a the a a e n file in the �fi e f th Re ister acf De d F1a 1
<br /> Gounty, �ebres�Ca�in �ee� Records recor�ed �n �ook f22>9Pa�e 5z5 an�d �3ok �77, page 349.
<br /> TO HAVE AND TO NOLD THE SAME, with lhe appurtenances lhereunto belonging, unto Commercia, its successors antl assigns,forever.
<br /> Said Mortgagars hereby covenant wilh said Commercial, its successors and assigns, that Mortgagors are law(u�ly seized of said premises,that
<br /> they are free from encumbrances, and that they will forever warrant and defend the title to said premises against the lawful claims of ali persons
<br /> whomsoever.
<br /> Provided,neveriheless,these presenis are upon the following conditions
<br /> That whereas the said Mortgagors as members of Commercial have this date executed 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 6y the terms of said note and Charter and ByLaws of
<br /> CommerciaL
<br /> That whereas this mortgage shall secure any additional advances, with interest, which may,al the option of Commercial. 6e made by Com-
<br /> mercial lo the undersigned Mortgagors or their successors in title for any purpose,at any time hefore the release antl cancellation of this mortgage.
<br /> but PROVIDED,HOWEVER,al no time shall the aggregate principal amount sewred by this mortgage, being the amounl due at any time on said
<br /> original note and any additional advances made,exceed an amount equal to 11D percent ot the amount of the original note,but in no event shall
<br /> said note exceed the maximum amount permitted by law,and PROVIDED,HOWEVER,that nothing herein contained shall be considered as limiting
<br /> the amounl that shall be secured hereby when advanced to protect the security or in accordance with covenants containetl in the mortgage.
<br /> Now, if the said Mortgagors shall pay or cause to be paid the said sums of money when due,as set forth in said note,and any other nole for
<br /> additional advances made until said debt is fully paid with interest, then these presents shall be void;otherNise,to be and remain in fuil force and
<br /> effect;but if default should be made:
<br /> (a) In any of the payments due on said note, and any other note for additional advances made,as therein agreed to 6e made for three months,or
<br /> (b) In keeping the improvements on said premises insured against loss by reason of fire, lightning,and othe�hazards inclutled in extended
<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 original of such policy or policies to be held by Commercial, and with a mortgage clause attached to said policy or policies,
<br /> in favor of Commerciai;or
<br /> (c) In the payment of faxes 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 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 whoie indebtedness hereby secured shall, at the option of Commercial,immediately become due and
<br /> payable without further notice,and the amount due under said note and any other note for additional advances made shall,(rom the date of Ihe exercise
<br /> of said option,bear 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 additional advances,together with all sums paid by Commercial for insurance,taxes,assessments and abstract extension charges,
<br /> with iaterest thereon from Ne date of payment at the maximum legal rate.
<br /> PROVIDED that in no event, either before or after defauli, shall the interest due under said note and this mortgage and any olher note for ad-
<br /> ditional advances made exceed the maximum lawful interest rate.
<br /> PROVIDED,further, that in lhe event that defauit ocars in the making of the payments due on said nole,and on any other note for additional
<br /> advances, as therein agreed to be made, or in keeping the premises insured, as above providetl,or if default be made in the payment of the taxes
<br /> or assessments levied upon the premises above described or upon this mortgage, before they are 6y law delinquent,Commercial shall be entitled
<br /> to the immediate possession of fhe premises above-described, together with all rents, proceeds and issues arising out of the premises,and may
<br /> in its discretion use the rents so far as it deems necessary for the purpose ot 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 /> to apply same on said note and any notes evidencing future advances hereunder unlil the indebtedness sewred is tully paid;and for sucd purposes,
<br /> the undersigned does here6y sell, assign,set over and transfer unlo 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;6ut said
<br /> Commercialshallin no case Ee liable for the failore to procure tenants.to collect rents,or to prosecute actions to recover possession of said premises.
<br /> The Mortgagors further appoint Commercial of Omaha, Nebraska, their attomey in fact, 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 be vacatetl,to collect 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 duly authorized and appointed by it,as its agent for said purpose,and
<br /> to charge or pay a reasona6le fee for such services, all of the above to be done at such times and in such manner and on such terms as lo their said _
<br /> attomey may seem hest,with full power of substitution.
<br /> The Mortgagors hereby agree that if Commercial either voluntarily or involunWrily becomes or is made a Fariy to any suit or proceeding relating
<br /> to the hereinbefore described real estate,or to lhis mortgage or said note or notes,other than a foreclosure instituted by Commercial,Morlgagors will
<br /> reimburse Commercial for all reasonable costs incurred by Commercial in said suit or proceeding. The Mortgagors further agree that if the hereinbefore
<br /> described real estate or any part thereoi be condemned under the power of eminenl domain, or is otherwise acquired for a public use. the damages
<br /> awarded, the proceeds for the taking,and fot the consideration for such acquisition to the extent of the tull amount of the remaining unpaid indebted-
<br /> ` ness-secured by'this mortgage,be,and they hereby are,assigned to Commercial and shall be paid forthwith to Commercial to be applied on account of
<br /> the last maturing'instaliments of such indebtedness.
<br /> Dacea mis �t day of February ,ig�.
<br /> THE SENCE F: . � �� � � -�-----�
<br /> �� �� Don T Lind rom
<br /> d
<br /> i t
<br /> i
<br /> Betty : n trom _ �,
<br /> STATE Of NEBRASKA � �x-'
<br /> couNrv oF Buffalo ss. I � . .
<br /> On this �St day of February , 19 7$, before me, a notary public in and for said County, personally came
<br /> tlie above-named "-�'
<br /> Don T. Lindstrom and Betty J. Lindstrom, husband and Mife � �'
<br /> to me well known to be the identiwl person or persons whose name is or names are affixed to the above mortgage as grantor or grantors and they,he _ ,,,, _
<br /> or she,severelly acknowledge the said instrument and the execu�ion(YIPfPnf f�+..yy}� eed.
<br /> FtAR01A C. RIC ER � ___
<br /> WITNESS my hand and Nofarial Seal this day and y ar I bove wr�Ati.ERAk YOTkRY ` ��
<br /> STATE 6� NESRFSI(A � —G .
<br /> .3:': ' �
<br /> � My CAtnmi On ExD, ��`;",�.•� Notary Puulic
<br /> My commission expires on lhe 29th �elay^of—���'iSer ,19�. M SG
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