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<br /> ]8-- ��2��Q EXPANDABL.� 1VIOR'TGAGE
<br /> - A5SI.GNMENT OF RENTS Loan Nn.__$1$924µ4 _
<br /> KNOW ALL MEN BY THESE PRES.�NTS:That Jerry L. Lawing 0nd Sheila A. Lav�ing, husband and wjfe
<br /> (hereinafter cailed Dhe Martgagorsy in co:nsideration of the sum of
<br /> Thirteen ThouSand Six Hundred and no/1Q0--------------------------oollars(s--13 600.Q0--)
<br /> loaned to Modgagors, do hereby grant, bargain,sell and cdnvey unto CQMMERGIAL FEDERAL SAYINGS AND LOAN ASS�CIAfiION of Omaha,
<br /> Nebraska,(hereinafter called "'Commerc�al"!, its successors and ass�gns, the following d.eseribed real estate, situated m 4he County of, �
<br /> He13 State of Nebras,ka,to-witr
<br /> �outh fifty feet (S50') of Lot seven (�) in Block ten (10} of Packer
<br /> and Barr's Addition to tihe City of Grand Is7and, Ha17 County, Nebraska.
<br /> TO HAVE AN•D TO HQLD THE SAME, with the appurtenances thereunt� belaaging, unto �ommercial, its suceessors and assigns,forever.
<br /> r+ Said Murt:gagprs hereby couenant with 5aid Cqmmerclal, its successors and assigns, Chat Mortgagors are Iawfuily selzeA af said premises,thaC
<br /> they are tree from ericumbrances, and ihat they will foreve� wareant and defend the Gtle to saT.d premises againsC the IawfuJ elaims bf aN p?rsons
<br /> whomsoever.
<br /> Provided_nevertheless, t�ese presents are iepon the!ollowing cnnd'rtions:
<br /> ThaE whereas the said Mortg2gurs as members of Cominerciai have lhis date execuCed a note evidencing such i'oan and agreeinq to re�ay said
<br /> sum ot m.qney,with inte�est, in paymecnts as set forlh in said noCe ana have agreed to abide!ry the terms of said note a,nd CharCer aoQ By�Laws of
<br /> CommerciaL
<br /> That whereas tfiis mortgage shail secure any adtlitional aduances, with inle-rest,whicn may,at the option oE Cqmmerciai,be made by Com-
<br /> mercial ko Ihe undersigned Mortg2gar5�r their successors in fitle[or any purpose zt any[ime before tha release anC cancellation of this mortgage,
<br /> but PRO'UID'ED,HOWEVER, at o.o time shall the aggrega4e principal amouot secured by ihis mortgage,bein,g the ampu�t due ai any time on said
<br /> original note antl any additional advantes made, exceed an amount eGuai ta 110 percent u/the amuwnt of the o�iginal nute,hu!in no even!shall
<br /> , said note exceed the maximum amouni permitted by law,and PRpVFpEQ,HOWEVER,Ih3t n�thing herein r.�ntained shall be qonsidered as IimiEing
<br /> ' fhe amownf Uiat shall be seeured hereby when advanced to protect Fhe secvri;y or in aewrdaroce with covenants contained in tlre mortgage. .
<br /> Mow„ if the said Martgagors shall pay or cause [o be paid the said sums af money when due,as set forth i,n said n�ie,and any othee note for
<br /> adGitaonai adwances made untll said detit is fully paid wi1h interesC, then th�se PreSents shali be void;othe:rHise,to be and remain in full force and
<br /> eftect;but if aefau#t should he mede:
<br /> (al in arfy of the payments dae on said nnte, and ariy ather nole for addifionai advanccs made,as therein agreed Eo be made for three months,or
<br /> 1 (b) In keeping ffie improvements on sai0 premises insured against boss Gy reascn of fire, lightning,and oiher hazards inePuded in exYended
<br /> coverage insu�ance In an amount not fess than the unpaid Galance of said �ortgage loan, in a comPany or eompanies acteptable to Gam-
<br /> mercial, the origmal of such p+�licy or policies to be held by Commercial, anC with a murtgage clause attashed to said policy ar policies,
<br /> in Pavar of Cammerciat;ot
<br /> (c) In the payment ot Wxes and assessmenCs levied apon said premises,or on this mortgage,6efore ihey are delinquent:oe
<br /> (dl I'E lhere is any change in Ihe awnership of ffie real esla2e mor(gaged herein, by sale,eithes autrighf or by land contraet,ar by as5ignment�f
<br /> any inlereSt thereon or otfierwise;
<br /> t�en, in a�y of the abovr setdorth events, the whole indebtedness hereby secured sha#V, at the apCiqn of Commercial,immediately become due and
<br /> payable wFthout furttier notice,and the amount due under said npte and any other note foe additional advances m-atle sha�!,from thz Cate of the exercise
<br /> ot said optioe, bear intsrest a.t the maximum IegaY rate per annum,and this mortgage may then t�forertosed to sa0isfy the amount due an said n.ote,and
<br /> any other note fur additianal advances,together wilh ali sums paid by Commercial for insurance, taxes,assessments and abstract extensian charges,
<br /> with�nterest thereoa from fhe date ot 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 /> ditiooal advances made exceed the maximum lawful interesl rate.
<br /> a
<br /> ; PROVIDED,furiher,that in the event that default ocars in the making of the payments due on said nute,and on any other note for additional
<br /> � advances, as therein agreed to be made, o� in keeping the premises insured, as above provided,a if defauit be made in the payment oi the taxes
<br /> or assessments levied upon fhe premises a6ove descri6ed or upon this mortgage, before they are by law delinquent,Commercial shail be entitled
<br /> to the immeGiate possession of the premises above-descri6ed, together with all rents, proceeds and issues arising aut of the premises,and may
<br /> in its discreti on 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 assessmenis upon such premises,and(or necessary expenses incurred in renting said premises and collec2ing rent therefrom,and
<br /> to apply same on said note and any notes evidencing future advances hereunder until the indebtedness secured is fuliy paid;and for such purposes,
<br /> � fhe undersigned does hereby sell, assign, set over and transter 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-descri6ed;but said
<br /> Commercial shallin no case be iiable for the failure to procure tenants,to collect rents,or to prosecute actions to recover possession of uid premises.
<br /> The Mortgagors(urther appoint Commercial of Omaha,Ne6raska, their attorney in fact, giving said attomey power irrevoca6ly,either on its own
<br /> name or Mortgagors'names to take all necessary steps tor proceedings in court or ofherwise, ta cause said premises to be vacated,to coliect rentals
<br /> or other incomes due,and when vacanl,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 ali such things either by iis own officers or by olher 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 wch times and in such manner and on such terms as to their said
<br /> ! attomey may seem best,with full power of substitution.
<br /> 1 The Mortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a rarty to any suit or proceeding relating
<br /> ` to the hereinbefore described real esta;e,or to this mortgage or said note or notes,other than a foreclosure instituted by Commercial,Mortgagors will
<br /> 'a reimburse Commercial for all reasonable costs incurred by Commercial in said suit or proceeding. The Mortgagors(urther agree that if the herein6efore
<br /> � described real estate or any part thereof be condemned under the power of eminenl domain, or is otherwise acpuired for a public use,the damages
<br /> awarded,ihe proceeds for Ihe taking,and for the considera�ion for such acquisition to the extent of the fuli amount of the remaining unpaid inde6ted-
<br /> ,,j ness secured by this mortgage,be,and Ney here6y are,assigned to Commercial and shall be paid forthwith to Commercial to be applied on account of
<br /> the last maturing installments of such indebtedness.
<br /> Dated this 12th day of Anril .19.Z8__.
<br /> c
<br /> IN THE P SENC OF-
<br /> ' �.�E �af.`L��.���o� _ r awin �
<br /> s �
<br /> ; heila A. Law nq ' � .r
<br /> � STATf OF NEBRASKA
<br />�� �COUNTY OF }�dl l ss. �
<br /> �i �On ihis 12L�7 day of Ap�^il , 19 18_,before me, a notary public in and for said County,personally came �
<br /> ,� the above-rtamed
<br /> Jerry L. Lawing and S�eila A. Lawing, husband and wife � � ���
<br /> � to me wali knawn to be the identicai person or persons whose name is or names are a(Iixed to the above mortgage as grantor or grantors aad they,he
<br />°� or she,severatly acknowledge the=?id instmment and th�e ez�ecuU'��:e�fod�their voluntary act and deed.
<br /> � WITNESS m hand and Notarial Seat lhis da and s i /� _/'/ //��
<br /> ' � y � Y ������ /�^ir'=�`c=--��.•.L-�''� �__'��s��-- �
<br /> Notary Pubhc
<br /> My wmmission ezpires on the 17th day of �1�'tnZip�t- . 19�. M-50
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