|
� �
<br /> 78-UUO"7H9 EXPANDABLE MORTGAGE
<br /> ASSIGNMENT OF RENTS Loan No. 44623-4
<br /> KNOW ALL MEN BY THESE PRESENTS:That Paul R.L. Sensenbach,. Sr. and Katheri�e P. Sensenbach,
<br /> �u5t}dDd �pd wif� (heremafter called the Mortgagors)in consideration of the sum of
<br /> yXLeen tiousan Three Hundred and no/100--------------------------0ollars(a16 300.00----) ;
<br />� loaned to Mortgagors,do hereby grant, bargain,sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSO�IATION oi Omaha, �
<br />� Nebraska, (hereinafter ca�led "Commercial"}, its successors and assigns, the following described real estate, situated in the County of,
<br /> HIIl l State of Nebraska, to-wit
<br /> 3259riji�c? �:sf3 �o ?-rsc� nn Ds?S�Af�aki�zrv�bcfuc z`�F;snrfeoL 's . : � ?�i 3:3 J�s�
<br /> .riS•tnt'. {!i) a��l3 �:�ri�nwei r>s �(cf} n391�fi3 nni3as,: ?c� =>J~+Uuf,'
<br />�. � .'�'.wQtfi3� 25 t!4','f't�2:.�(�, yF1E•�.�'�l?''6�! 'J'T0:7 :`•i.9 l��7Ctz 9f�? �"!.' 4� �l'?- ?n:. �«- ... . �
<br /> J9?912 �"t"��rlJ :iJl7C' '�r� nn� ' �''gf29i:•9'tJ TO n;trs�;;?2't9?nt 4flli�b ,rr;r3tr!',�J
<br /> 7p�l�q'�'�'Al6� "�brH�El��}fE`�9AM�:—wRfi'th�-%5�ur�i icet�thtlP]�fi�71SFDnghtg3�.udtOcComelrSi3al{tdl33aa89sstHsi2n�algigns,forever.
<br /> Said M4 r�tpg�r�s��eby'�6'v�er�'a,q� il4r��d'G'bmm�reta4'fI!'s s3C�33'Bt5�an�$�s�gns;�Ehat HRJclgtgoiS'3re�3wf�ll��aiz�il�SflQ��remises,that
<br /> =''�ie`y �r�fi�e'�Ira�iNencurtA7rahcAs;an�th�t�th�:�aOfN'fdrQdEr aad�l�2mtl2det,efed*tl+��it�,+to,SaDd pI9mI5Cs'�plRstf�B��4�r�$����all persons
<br /> WhOrt150@VCf.11:tl0��.. '3ii,T l?.: i9i�F"t^.': Y i �3�':3W 9:lff`_3i�: !�:iffl:sU"• ::�5"tlfl:n$G �U .tRfC�Q :Glf.?b . . . . ..
<br /> Provid�d�719L�c�lf�ft�'s,�E>p��se�6RtripOrt thQ&s[Idvirigi6ndi�Ctsn33�tr[,J.'_t.`, f, 1]-i't.'� `1L`tl±�r:,+E;' 'G 9;tt+`
<br /> Tpa wher s"'�e�'Sptt����o�r��' o�s�s9`e�ers�bf� o"�iin�rci�a{�h�ie tl�i�daql��execkt����o'f��'�vide'�cin�'�ct�fb�rt�niltig�fe�iM'gQnrepaysaid
<br /> •1�fi}"bT�o�(QNi 9Ninfe'�est?Vh��fi�nts!�S���Af��n 3@iL r���d�h�4�'e��edf►o:atli��bQ+aht t6Mns Qf�5aid nat�end Ch2ltepanC BY-Laws of
<br /> CUhm9rtf81i o•t''�'3fr_•.-� 9i:g t,f?e'�g � '•`�-i�UL��� 'S7R�tfj L7Ri,�tt��t h:ii> -.';�5t (.i � :C .3-,f•4>S�I�M x. ' .
<br /> :•tl�t twh�eaeigiAmorffiage,?ssllal��ec�ra��ny.;�di{ipnal�ance}�awit�i4tqrest fy�icp �,-�it�tbe qQtiorE�f�ercia�,ehe�nade by Com-
<br /> merciai to the undersigne qr;o��g�r,soceess�o(s�81�Ue,(qr-any,qytpase,,�t. y'f�myg��qr titg I@a e and c e�I iattdrt'�1t'this mortgage,
<br /> but PROVIDED,HOWEV , at no fime sfial(the ag�r�gat2'pfidct�At'�fiibYint'secur�'by'9�`mdr�ag�ln�tl�amourr��'ar�time on said
<br /> original note and any additionai advances made, exceed an amount equal to I10 percent of the amount of the original note,but in no event shall
<br /> said note exceed the maximum amount permitted 6y law,and PROVIDED,HOWEVER,ihat nothing herein containe0 shall be considered as limiting
<br /> the amount that shall be seared 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 he paid the said sums of money when due,as set forth in said note,and any omer note for
<br /> additional advances made until said de6t is fully paid with interest, then these presents shall be void;otherxise,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 aote for additional advances made,as therein agreed to be made for three months,or
<br /> (b) In keep�ng the improvements on said premises insured against loss by reason of fire, lightning,and other hazarAs included in exlended ',
<br /> ccverage insurance in an amount not less than the unpaid balance of said mortgage loan, m a company or companies acceptable lo 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 Commercial;or
<br /> (c) In the payment of taxes and assessments levied upon said premises,or on this mortgage, before they are delinquent;or
<br /> (d) If there is any change in Ne ownership of the real estate mortgaged herein,by sale,either outright or by land contraet,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 shali, at the option of Commercial,immediately become due aad
<br /> payable without further notice,and the amount due under said note and any other note for additional advances made shall,from the date of Ne exercise
<br /> af said option,bear interest at the mazimum 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 interest thereon from the date o(payment at the maximum 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 /> PROVIDED,further,that in the event that default occurs in the making of the payments due on said nate,and on any other note for atldi6onal
<br /> advances, as therein agreed to be made, or in keeping the premises insured, as above provided,or it default be made in the payment ot tbe taxes
<br /> ar assessments �evied upon the premises above described or upon this mortgage, before they are by law delinquent,Commercial shall be entitied
<br /> to the immediate possession of the 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 lhe 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 and collecting rent therefrom,and
<br /> to apply same on said note and any notes evidencing future advances hereunder until the indebtedness secured is fully paid;and for such purposes,
<br /> the undersigned does hereby seii,assign, set over and transfer unto Commercial all of said rents,proceeds and incanes includiog 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 a6ove•described; but said
<br /> Commercial shall in no case be liable for the failure to proare tenants,to collecl rents.or to prosecute actians to recover possession o!said premises.
<br /> The Mortgagors further appoint Commercial of Omaha, Nebraska, their atiomey in fact, giving said attomey power irrevocably,either on its own
<br /> name or Mortgagors'names to take ali necessary steps for proceedings in court or otherwise, to cause said prem�ses to be vacated,to collect renlals
<br /> or ofher 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 things either by its own officers or by other parties duty authorized and appointed by it,as its agent for said purpose,and
<br /> to charge or pay a reawnable fee for such services,all ot the above to be done at such times and in such manner and on such terms as to their said
<br /> attomey may seem best,with full power of substiWtion.
<br /> The Mortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a party to any suit or proceeding relating
<br /> to the hereinhefore described real estate,or to lhis mortgage or said note or notes.other than a foreclosure instituted by Commercial,Mortgagors will
<br /> reim6urse Commerclal for ali reasonabie costs incurred by Commercial in said suit or proceeding. The Mortgago�s further agree Ihat if Ihe hereinbefore
<br /> described real estate or any part thereof be condemned under the power of eminent domain, or is otherwise acquired for a pubiic use,the damages •
<br /> awarded, fhe proceeds for U�e taking,and for the consideration for such acquisition to the extent of the fuil 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 inslallments of such indebtedness.
<br /> Dated Ihis 4th day ot FebruarX .191�D��j� � _/�t
<br /> T P ESENCE F: ��`�.
<br /> ��� Paul R.L. Seasenbach, Sr.
<br /> /�� �// 8 '
<br /> . �� -�r_� I'S/AYU�jJ/�S� � L � ..
<br /> Ka herine P. Sensenbach �. `�z � ;-,
<br /> STATE OF NEBRASKA �
<br /> COUNTY OF Buffalo ss. s ,; ""� ,:
<br /> ' -0n this 4th aay of Februarv , 19�, 6etore me,a notary public in and for said County,personally came
<br /> the above•named �
<br /> Pau1 R.L. Sensenbach, Sr. and Katherine P. Sensenbach, husband and wife �,r�
<br /> to me well known to be the identipl re a(fixed to the above mortgage as grantor or grantors and they,he ` " .
<br /> or she,severally acknowledge the sai inst ment and�uCbrR�to their voluntary nd deed.
<br /> 6ENERAI NOTARY ,-�--.4__---'-_.._ _.
<br /> WlTNESS my hand and Notarial Seal th yea6�T6b9ie Mfi@�RSiU1 �_�,i�
<br /> � 29.1978 �
<br /> Notary Public
<br /> Nfy commission expires oo the 29th day of Se�tem6e� ,19 71. M-5C
<br />
|