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<br /> Z8� UO11"75 EXPANDABLE MORTGAGE
<br /> ASSIGNMENT OF RENTS Loan No. 44634_9
<br /> KNOW ALL MEN BY THESE PRESENTS:That Steven V�. Onge�t and Paula K. Ongert, husband and wife
<br /> Fort Five Thousand and no 100------- (hereinafter called the Mortgagors)in consider tion of the sum of
<br /> Y— / --------- Dollars(5--�5,000.00--�
<br /> loaned to Mortgagors,do hereby grant, bargain,seU and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha, �
<br /> rye aska, (hereinafter called "Commerciai"), its successors and assigns, the following described real estate, situated in the County of,
<br /> Hd�1 State of Nebraska,to-wit:
<br /> Lot three (3), Block one (1) in Southern Acres AAdition to the City
<br /> of Grand Island, Hall County, Nebraska.
<br /> TO HAVE AND TO HOL� TH E SAME, with the appurtenances thereunto belonging, u�to Commercial, its successors and assigns, forever.
<br /> Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfully seized of said premises,that
<br /> they are free from encumbrances, and that they will forever warrant and defend the title to satd premises against the lawful claims of all persons
<br /> whomsoever.
<br /> Provided, nevertheless,fhese presents 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 by the terms of said note and Charter and By-Laws of
<br /> � GommerciaL
<br /> That whereas this mortgage shall secure any additional advances, with interest,which may,at the option of Commercial,be made by Com-
<br /> mercial to the undersigned Mortgagors or their successors in title for any purpose,at any time before the release and cancellation of this mortgage,
<br /> :i but PROVIDED, HOWEVER,al no time shall the aggregate principal amount secured by this mortgage,being the amount due at any time on said
<br /> original note and any additional 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 by law,and PROVIDED.HOWEVER,that nothing herein contained shall be considered as limiting
<br /> the amount that shall be secured 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 be paid the said sums of money when due,as set fortl�in said note,and any other note for
<br /> •; additionai advances made until said debt is fully paid with interest. then these presents shall be void:other,vise,to be and remain in full force and
<br /> ? effect;but if detault shauld 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 be made far three months,or
<br /> (b) in keeping the improvements on said premises insured against loss by reason of tire, lightning, and other hazards included in extended
<br /> j coverage insurance in an amount not less than the unpaid balance of said mortgage loan, in a company or companies acceptahle 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 Commercial;or
<br /> (c) In the payment of taxes and assessments ievied 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 ihereon or otherwise:
<br /> then, in any of the above set-forth events, the whole indebtedness hereby secured shall, at the option of Commercial,immediately 6ecome due and
<br /> payable without further notice,and the amount due under said note and any other note for additional advances made shall,from trye date of the exercise
<br /> of said option,bear interest at the maximum legal rate per annum,and this mortgage may ihen 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 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 /> t ditional advances made exceed the maximum lawtul interest rate.
<br /> PROVIOED,further,that in the event that default occurs in the making of the payments due on said note,and on any other note tor additional
<br /> advances, as therein agreed to be made, or in keeping the premises insured, as above provided,or if default be made in the payment of the faxes
<br /> or assessments levied upon the premises above described or upon this mortgage, before they are by law delinquent, Commercia!shali be entitled
<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 the purpose of making repairs upon the premises and for the payment ot 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 fuWre advances hereunder until the indebtedness secured is fully paid;and for such purposes,
<br /> the undersigned does hereby seil,assi�, set over and transfer unto Cammercial al I of said rents,proceeds and incomes including any land contract
<br /> i 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
<br /> Commercial shall in no case be liabte for the failure to procure tenants,to collect rents,or to proseate actions fo recover possession of said premises.
<br /> y The MoRgagors furNer appoint Commercial of Omaha, Ne6�aska, their attorney in fact,giving said attomey power irrevocably,either on its owa
<br /> 7 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
<br /> or other incomes due,and when vacant,to relet the same,to make all reasonable repafrs and pay tazes out of said rents,profits,contract payments or
<br /> iacomes 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
<br /> ' to charge or pay a reasonable fee for such services, all of the above to be done at such times and in such manner and on such terms as to their saiA
<br /> attomey may seem best,with lult power of substitution.
<br /> � The Mortgagors hereby agree that it Commercial either voluntarily or involuntarily becomes or is made a parry to any suit or proceeding relating
<br /> � to the hereinbefore described real estate,or lo this mortgage or said note or notes,other than a foreclosure instituted by Commercial,Mortgagors wiil
<br /> reimburse Commercial for all reasonable costs incurreA try Commercial in said suit or proceeding. The Mortgagors further agree that if the herein6e(ore
<br /> described real estate or any part thereof be condemned under the power of eminent domain, or is otherwise acpuired for a puhlic use,the damages
<br /> awarded,ihe proceeds for the taking,and for the consideration for such acquisition to the extent of the full amount of the remaining unpaid indebted-
<br /> j ness secured by this mortgage,be,and U�ey herehy are,assigned to Commercial and sh be paid(orthwiih to Commercial to be applied on account of
<br /> : the last mahiring installments of such indebtedness. �
<br /> i Dated this 2nd dey o( Mat'Ch ,191$_.
<br /> � IN CHF�OF:
<br /> Steven W. Ongert
<br /> � _7 �� (
<br /> � Paula K. Ongert - � � �.
<br /> STATE OF NEBRASKA �j(� "
<br /> ,§ COUNTY OF Hd�l ss. �� " '" �ie.,z`' � �'
<br /> � �Oa this Znd day of ��"Ch _, 19 78, before me,a notar �
<br /> � the above•nameG y Uublic in and for said County,personally came ; , , '
<br /> � Steyen W. Ongert and Paula K. Ongert, husband and wife � ";�
<br /> -ti�
<br /> ,., ,
<br /> _.. ,.,
<br /> to me vieU known to be the identipl person or persons whose name is or names are affixed to t�e above mortgage as grantor or grantors and they,he '"'�
<br /> i or she,severally acknowledge the said instrument and their volunWry act and deed.
<br /> ; NAROLD C:RICHTE� a
<br /> '+ WITNESS my hand and Nofarial Seal lhis day and year ri ne�nQ�ER/1L NOTARI A
<br /> 37ATE OF�EBRASKA �
<br /> �� Notary Public
<br /> My commission expires on the 29th aay of e , g� M�50
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