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,.._ . � � �8- U00933 EXPANDABLE MORTGAGE ASSIGNMENT OF RENTS Loan No. 818908-2 KNOW ALL MEN BY THESE PRESENTS:That Mnabelle M. Nelson, a single person (hereinafter catled the Mortgagors)in consideration of the sum of. Fift]�-Six Tlrousand Five Hundred and no/100----------------------- Doliars(a56 500.00----) loaned 10 Mortgagors,do hereby grant,bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS ANO LOAN ASSO�IA710N of Omaha, r Nebraska, (hereinafter called "Commercial"), its successors and assigns, the foilowing described real estate, situated in the County of, Hdl} State of Nebraska,to-wit: Lot Twenty-Eight (28) in Block Two (2), Parkhill Subdivision, in the City of Grand Island, Hall County, Nebraska. TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto helonging, unto Commercial, its successorsandassigns,forever. Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfully seized of said premises,that they are free from encumbrances, and that ihey will forever warrant and defend the tiGe to said premises against the lawful claims of afl persons whomsoever. Provided,nevertheless,these presents are upon the following conditionr. That whereas the said Mortgagors as mem6ers of Commerciai have this date executed a note evidencing such loan and agreeing to repay said sum of money,with interest, in payments as set forth in said note and have agreed to abide by the terms of said note and Charter antl By-Laws of CommerciaL That whereas this mortgage shatl secure any additional advances,wifh interest,which may,at the option of Commercial,be made by Com- ;--- mercial to the undersigned Mortgagors or their successors in title for any purpose,at any time before the release and cancellation of this mortgage, ' but PROVIDED, HOWEVER,at no time shall the aggregate principal amount secured by this mortgage,being the amount due at any time on said original note and any additional advances made,exceed an amoaat equal to 110 percent of the amount of the original note,but in no event shail said note exceed the maximum amount permitted by law,and PROVIDED,HOWEVER,that nothing herein contained shall be considered as limiting the amount Nat shall be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage. Now, if the said Mortgagors shali pay or cause to be paid the said sums of money when due,as set forth in said note,and any other note for additional advances made until said debt is fulfy paid with interest, then these presents shall be void;otherNise,to be and remain in full force and effect;but if de(ault should be made: � (a) In any of the payments due on said note, and any other note for additional advances made,as therein agreed to be made for three months,or (b) In keeping the improvements on said premises insured against loss by reason of fire, lighlning, and other hazards inciuded in extended coverage insurance in an amount not less than the unpaid balance of said mortgage loan, in a company orcompanies acceptable to Cam- mercial, the original of such policy or policies to be held by Commercial, and with a mortgage ciause attached to said policy or policies, in favor of Commerciai;or y.. � (c) In the payment of taxes and assessments levied upon said premises,or on this mortgage,before ihey are delinquent;or (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 .., any interest thereon or otherwise; -�.j then, in any of the above set•forth events, the whole indebtedness hereby secured shall,at the option of Commercial,immediately become due anA payable without further notice,and the amaunt due under said note and any other note for additional advances made shall,from ihe date of the exercise of said option,bear interest al the maximum legal rate per annum,and this mortgage may then be foreclosed to satisfy the amount due on said note,and any other note for additional advances,together with all sums paid by Commercial for insurance, taxes,assessments and abstract extension charges, with interest thereon from the date of payment at the maximum legal rate. PROVIDED that in no event, either before or after default, shall the interest due under said note and this mortgage and any other note tor ad- ditional advances made exceed the maximum lawful interest rate. PROVIDED,further,that in the event that default occurs in the making o( the payments due on said note,and on any other note for adtlitional advances, as iherein agreed to be made, or in keeping fhe premises insured, as above provided,or if default be made in the payment of the taxes or assessments levied upon the premises above described or upoa this mortgage, before they are by law delinquent,Commercial shall be entitled to the immediate possession of the premises above-descri6ed, together with all rents, proceeds and issues arising out of the premises,and may in its discretion use the rents so far as it deems necessary tor the purpose of making repairs upon the premises and for the payment o!insurance premiums,faxes and assessments upon such premises,and for necessary expenses incurred in renting said premises and collecting rent therefrom,and to apply same on said note and any nates evidencing future advances hereunder until the indebtedness seared is fulty paid;and for such purposes, the undersigned does hereby sell,assign, set over and transfer unto Commercial all of said rents,proceeds and incomes including any land contract 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 Commercialshallin no case be liable for the failure to procure tenants,to collect rents,ar to prosecute actions to recover possession of said premises. The Mortgagors further appoint Commercial of Omaha, Nebraska. their attomey in fact,giving said attomey power irrevoca6ly,either on its own name or Mortgagors'names to take all necessary steps for proceedings in court or otherwise, to cause said premises ta be vacated,to collect rentals or other incomes due,and when vacant,to relet the same, to make all reasona6le repai rs and pay taxes out of said rents,profits,contract payments or incomes and to do all such things either by ifs own afficers or by other parties duly authorized and appointed by it,as its agent for said purpose,and to charge or pay a reasonable(ee for such services, all of the above to be done at_such times and m such manner and on such terms as to their said attomey may seem best,with tull power of substitution. The Mortgagors hereby agree that i(Commercial either voluntarily or involuntarily becomes or is made a parry to any suit or proceeding relating to the hereinbefore described real estate,or to this mortgage or said note or notes,other than a foreclosure instituted by Commercial,Mortgagors will reimburse Commercial for aU reasonable costs incurred by Commercial in said suit or proceeding. The Mortgagars further agree that if the hereinbefore - described real estate or any part thereof 6e condemaed under the power of eminent domain,or is otherwise acpuired for a public use,the damages awarded,the proceeds for the faking,and for the consideration for such acquisition to the extent of the full amount of the remaining unpaid inde6ted• 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 the last maWring installments of such indebtedness. Dated mis 16th day of February , 191�. �IN PRESENCE F- � — �„�� ?�e� �– % ht�=y/�� Annabelle M. Nelson ,. • `_ :s;. STATE OFNEBRASKA 7' COUNTY OF Hal l ss. I f , �`:. � On this 16th dyy of FebTuBPy , ]9_7�, before rne, a notar ihe above-named Y P�blic in and for said County,personally came .-� A�nabelle M. Nelson, a singTe person ° � .,� p to me welt known to be the identical person or persons whose m�p�e.�ifi�Iq�y�e above mortgage as grantor or grantors and they,he or she severally acknowledge lhe said instrument and the exe on tlyyp�QplB.tqe6p�sdw[Sary act and deed 1drCaasEawoee��.ie�e WIINESS my hand and NoWrial Seal lhis day and year last above written. /f ��n / � � � � / � i.., o�_ My commission expires on the 7 7t1+ day of October , ig]�. Notary Pubtic M�50