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<br /> 7S_ ���1690 EXPANDABLE NIORTGAGE
<br /> ASSIGNMENT OF RENTS Loan No. 44643-8
<br /> RNOWALL MEN BYTHESE PRESENTS:That LeRoy G. Hauptmeier and Susan M. Hauptmeier,husband and wife
<br /> (hereinafter called the Mortgagors)in consideration of the sum ot
<br /> ; Twenty-Eight Thousand Five Hundred and no/700--------------------- oouars(5--28,5�0.00--) �
<br /> loaned3o Mortgagors,do hereby grant,bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha, f
<br /> �; Mebraska, (hereinafter called "Commerciai"), its successors and assigns, the following described reai estate, situated in the County of, f`.
<br /> Hdl l State of Nebraska,to•wit:
<br /> � The Easterly Malf of Lots fourteen (14) and sixteen (16) in Biock
<br /> ;
<br /> � fifteen(15) in University Place, an Addition to the City of
<br /> Grand Island, Ha11 County, Mebraska. �
<br /> '�;� �
<br /> �
<br /> i TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Cornmercfal, its successors and assi�s,forever.
<br /> � Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are tawfully seized of said premises,that
<br /> � they are free fram encumbrances,and that they will forever warrant and detend the title to satd premises against the lawful claims of a!I persons
<br /> � whomsoever.
<br /> i
<br /> Provided, nevertheless,these presents are upon the following conditions.
<br /> That whereas the said Mortgagors as members of Commercial have lhis date executed a note evi�encing such loan and agreeing to repay said
<br /> -j sum of money, with interest, in payments as set forth in said note and have agreed to abide Dy the terms oF said note and Charter and ByLaws of
<br /> Commercial.
<br /> That whereas this mortgage shall secure any adAitional advances, with interest,which may, at the option of Commercial,be made by Com- -
<br /> ,i mercial to the undersigned Mortgagors or their successars in title(or any purpose,at any time before the release and cancellation of this mortgage,
<br /> but PROVIDED,HOWEVER,at no time shall the aggregate principal amount secured by this mortgage,being the amount due at any time cn said ,
<br /> 'j original nate and any additional advances made, exceed an amount equal to 110 pertent of the amount of the original note,but in no event shall
<br /> ; said note exceed fhe 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 pwtect the security or in accordance with covenants contained in!he martgage.
<br /> Now, ii 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 note for
<br /> 'j additionai advances made until said debt is futiy paid with inlerest, then fhese presents shall he void;otherNise, to be and remain in full foae and
<br /> effect;but if default should be made:
<br /> 1 (a) In any cf the payments due on said note,and any other note for additional advances made,as therein agreed to be made for three,months,or
<br /> ,i (b) In keeping the improvements on said premises insured against loss by reason of fire, lightning, and other hazards included in extended
<br /> " wverage insurence in an amount not less than the unpaid balance of saiA mortgage loan, in a company or companies acceptable to Com- t
<br /> '! mercial, the originaf of such poiicy or policies to Ge held by Commercial, and with a mortgage clause attached to saiQ policy or policies,
<br /> in favor of Commercia l;or '
<br /> (y In the payment of taxes and assessments levied upon said premises,or on this mortgage,before they are delinqueM;or
<br /> f� (d) If there is any change in the ownership of Che real estate mortgaged herein, by sale,either outright or by land contract,or hy assignment of
<br /> :� any interest thereon or otherwise; z
<br /> •3 then, in any of the above set-forth events, the whole indebtedness hereby secured shall,at the option of Commercial,immediately hetome due and `
<br /> � payable without further notice,and the amount due under said note and any other note lor additional advances made shall,from the date of fhe exercise !
<br /> of said option,bear interest at the maximum legai rate per annum,and this mortgage may then 6e 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,Wxes,assessments and abstract extension charges, i'
<br /> i wiU�interest thereon(rom the date of payment at the maximum legal rate.
<br /> f PROVIDED that in no event,either 6efore or atter default, shall the interest due under said note and this mortgage and any othet note for ad-
<br /> � ditionaPadvances 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 note,and on any other note lor additional
<br /> ;$ advances, as therein agreed to be made. or in keeping the premises insured, as above provided,orif default be madein the paymentof the taxes
<br /> l or assessments levied upon Uie premises above described or upon this mortgage, before they are by law delinquent,Commercial shall be enlitled
<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 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 sell,assign, set over and transfer unto 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;but said
<br /> Commercial shall in no case 6e liahle for the tailure to procure tenants,to collect rents,or ta prosecute actions to recover possession of said premises.
<br /> The Mortgagors further appoint Commercial of Omaha, Nebraska, their attomey in fact,giving said attorney 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 vacated,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 things either by its own officers or by other parties duly authorized and appointed by it,as its agent(ot said purpose,and
<br /> to charge or pay a reasonable fee(or sucfi services, all of the above to be done at such times and in such manner and on sach terms as to their said ,
<br /> _{ attomey may seem best,wifh full power of substitution.
<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 hereinbefore described real estate,or to this mortgage or said note or notes,other than a foreclosure instituted 6y Commerciai,Mortgagors will
<br /> � reimburse Commetcial for all reasonable costs incurred by Commercial in said wit or proceeding. The Mortgagors further agree that if the hereinbefore
<br /> described real estate or any part thereof be condemned under the power of eminent domain,or is otherwise acquired tor a public use,the dair.ages
<br /> `,+" awarded, the proceeds for the taking,and for the consideration for such acquisition to the extent of the full amount o/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 maWring installmwts of such indebtedness
<br /> � Dated this 27th day of March ,191$_. � '
<br /> � IN�Ty�PR ,ENCE OF: -Z f"1 • -��-z-
<br /> � /��� ���J�� LeRo . auptmeier
<br /> L �/J� �� �--
<br /> � , -/�/ S�i���1J�G-'�y��..�
<br /> � Susan M. Hauptmeier - �
<br /> STATE OF NEBRASKA �' '
<br /> � Ss. � ��� ; �
<br /> CouNnroF Hall `
<br /> :�On ihis 27th day of Fidl'Ch , 19 �$, before rne,a notary public in and for said County,personally came �� �
<br /> ' fhe above-named ;
<br /> LeRoy 6. Hauptmeier and Susan M. Hauptmeier, husband and wife '� �
<br /> � ..
<br /> yk W me well known to be the identical person or persons whose name is or names are affixed to the above mortgage as grantor or granlors and they,he
<br /> � or she,severolly acknowledge the said instmment and the execu��r�h�iNdMOM1tary act and deed.
<br /> t ARNOLD D.W���' �
<br /> WIINESS my hand and NoWrial Seal this day and year I ��mm.FaP���•�� /
<br /> �'' G��.c;�`�,�'. C-,✓'�� �
<br /> Notary Pu61ic
<br /> My commission expires on the 7 7th day ot OCtnhP.r ,19 79_. M�SD
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