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� � ' �$' UOlO9S EXPANDABLE MORTGAGE ASSIGNMENT OF RENTS Loan No. 44628-4 KNOW ALL MEN BYTHESE PRESENTS:That Larry C. Glazier and Cheryl A. Glazier, husband and wife (hereinafter cailed the MoAgagors)in consideration of the sum of Fifty Thousand and no/100-----------------------------------------Dollars(s 50 000.00--- ) loaned to Mortgagors,do hereby grant, bargain,sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOClATiON of Omaha. Nebraska, (hereinaRer called "Commercial"), its successors and assigns, the following described real estate, situated in the County of, � Hdl l State of Nebraska, to-wiY. : Lot One (1), in Capital Heights Eighth Subdivision, in N41; of Section 2, Township 11 North, Range 10 West of the 6th P.M., Hall County, Nebraska. TO HAVE AND TO HOLD THE SAME, wifh the appurtenances thereunto belonging, unlo Commercial, its successors and assigns,forever. Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfully seized ot said premises,that Ney are free from encumbrances, and that they wiil forever warrant and defend the title to said premises againsl the lawful claims of all persons whomsoever. ' Provided,neverthefess, these presents are upoe the tollowing conditions: That whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such Ioan and agreeing to repay said sum of money. with interest, in payments as set forth in said note and have agreed to abitle by the terms of said note and Charter and ByLaws of Commercial. That whereas this mortgage shall secure any additional advances, with interest,wbich may, at the option ot Commercial,be made by Com- mercial to the undersigned Mortgagors or their successors in title for any purpose,at any time before the releaseand cancellation of this mortgage, but PROVIDED,HOWEVER, at no time shalt the aggregate principal amount secured by this mortgage,being the amount due at any time on said original note and any addilional advances made, exceed an amount equal lo I10 percent oi the amount of the original note,but in no event shatl said note exceed the maximum amount permitted by law,and PROVIDED. HOYIEVER, that nothing herein confainetl shatl be considered as limiting the amount that shall be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage. Now, if the said Mortgagors shall pay or cause to be paid the sai0 sums of money when due,as set forth in said note,and any other note for additional advances made untii said debt is fully paid with interest, Ihen these presents shafl be void;otherNise,to be and remain in fuil force and eHect;but if default should be made: (a) In any of the payments due on said nole,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 insuretl against loss by reason of fire, lightning, and other hazards included in extended coverage insurance in an amount not less than the unpaid balance of said mortgage loan, in a company or companies acceptable to Com• mercial, the original of such policy or policies to be held by Commercial, and with a mortgage clause attached lo said policy or policies, in favor of Commercial;or (c) In the payment ef taxes and assessments levied upon said premises,or on this mortgage,before they are delinquent;or (d) If there is any change in the ownership of the reai estate mortgaged herein, 6y sale,either outright or by land contract,or by assignment of any interest thereon or otherwise; fhen, in any of the above sehforth events, ihe whole indebtedness hereby seared shal l, at the option o(Commercial,immediately become due and payable without further notice,and the amount due under said note and any other note for additional advances made shali,from the date of the exercise of said option,6ear interest at 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 ali sums paid by Commercial for insurance,Wxes,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 for ad- ditional advances made exceed the maximum lawful interest rate. PROVIDED,further,that in the event that de(ault occurs in the making of the payments due on said note,and on any other note for addiGonal advances, as therein agreed to be made, or in keeping ihe premises insured, as above provided,or if default be made in lhe payment of the taxes or assessments levied upon the premises above described or upon this mortgage, before they are by taw delinquent,Commerciai shail be entitled to the immediate possession of the premises above-described, together with all rents, proceeds and issues arisingout of the premises,and may 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 premiums,taxes 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 notes evidencing future advances hereunder until the indebtedness secured is fully paid;and for such purposes, the undersigned does hereCy sell, assign, set over and transfer unto Commercial all of said rents,proceeds and incomes including any Iand contract payments due martgage owners or any other incomes of any type whatsoever from said property to be applied on the notes above-described;but uid Commercial shali in no case be liable for the fai lure to procure tenants, to collect rents,or to prosecute actions to recover possession of said premises. The Mortgagors (urther appoinl Commercial of Omaha, Nebraska, their attorney in fact, giving said attorney power irrewcably,either on its own name or Mortgagors' names to take all necessary steps for proceedings in court or otherwise, to cause said premises to be vacated,to collect rentals or other incomes due,and wben vacant,to retet the same,to make all reasonable repairs and pay taxes out of said rents,protils,contracl payments or incomes and to do all such things either by its own officers or by other parties duly authorized and appointed by it,as its agent for said purpose,and to charge or pay a reasonable tee for such services, ali of the above to be done at such times and in such manner and on such terms as to their said attorney may seem besl,with full power of substiNtion. The Mortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a party lo any suit or proceeGing relating : to the hereinbetore described real esWte,or to this mortgage or said note oi notes,other than a foreclosure instituted by Commercial,Mortgagors will reimhurse Commerciai for all reasonable costs inarred by Commercial in said suit or proceeding.The Mortgagors furlher agree that if the hereinbefore described real estate or any part thereof be condemned under Ihe power of eminent domain, or is otherwise acquired for a public use,the damages awarded,the proceeds tor the taking,and for the consideration for such acquisition to the extent of the fult amount of the remaining unpaid indehted- ness secured by this mortgage,he,and they hereby are,assigned to Commercial and shall be paid forthwith to Commercial to be applied on account of Ne last maturing insWllments of such indebtedness Dated this 24th day of February ,1g�, I PjtE�NCE OF: _� I --- ------ ��Z��`� �i�� Larry C 6lazier r . �C.�/jQ�4�Q• y,�2�0.�2�,� Cheryl A. Glazier STATE OF NEBRASKA - � �T COUNTY OF Hal l S5� i r'� On this 23rd da of febru � R�` lhe above•named y � . 19 78 ,betore me, a notary public in and for said County,personally came " Larry C. Glazier and Cheryl A. Glazier, husband and wife w� f.�l-y. to me weil known to be the identicat per ffixed to the above mortgage as grantor or grantors and they,he or she,severally acknowledge the said in tru t and thAtAROt��be th ir voluntary act and deed. � ,.,, GEMERAI fl� OT��R WITNESS my hand and Notarial Seal this ,y�ar Iat6tBdv�liriYF�BRASKA l_ MY Cortu�oa Ex . 29, 1979 _ ...... .._ __. _ ' _ _ _.___. otary Public My commission expires on the 29th day of SE±Qtelnber , 19 Z2.. M�SD I _1