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� - 78— U024�s1 EXPANDABLE MORTGAGE ASSIGNMENT OF RENTS Loan No. 44651-9 KNOW ALL MEN BY THESE PRESENTS:That Thomas J. Shaver and Linda L. Shaver, husband and wife (hereinafter calied the Mortgagors)in consideretion of the sum of Forty–Four Thousand and no/100------------------------------------Douars (5--44,000.00--) loaned to Mortgagors,do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND lOAN ASSOCIATION of Omaha, Nebraska, (hereinafter called "Commercial"), its successors and assigns, the following described real estate. situated in the County ot, I Hdl l State of Nebraska,to-wit: Lot Two (2), Imperial Village Sixth Subdivision to the City of Grand Island, Ha11 County, Nebraska. TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns,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 they will forever warrant and detend the title to said premisesagainst the lawful claims of ali persons whomsoever. Provided,nevertheless, these presents are upon ihe tollowing conditions: That whereas the said Mortgagors as memb?rs ef Commercial have this date execut?d a nole 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 lerms of said note and Charter and ByLaws of Commerciai. � That whereas this mortgage shatl secure any additionai advances,with interest, which may,at the option of Commercial,be made by Com- mercial to the undersi gned 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 lhe amount due at any time on said original note and any additional advances made, exceed an amount equal to I10 percent of the amount of ihe original nale, but in no event shall said note exceed Ne maximum amount permitted by law,and PROVI�ED,HOWEVER,ihat nothing herein contained shall 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 said sums of money when due,as set forlh in said nole,and any other note for additionai advances made until said debt is futly paid with interest, then these presents shal I be void:otherNise,to be and remain in full force and effect;but if default 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 agains[ loss 6y reason of fire, lightning, and other hazards included in extended ' coverage insurance in an amount not �ess than the unoaid 6alance of said mortgage loan, in a company or companies acceQtable la Com- mercial, the original of such policy or policies to be held by Commercial, and with a mortgage clause attached to said policy or policies, in favor of Commereial;or {c) In the payment of 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 fhe real estate mortgaged herein, by sale,either outright or by iand contract,or by assignment of any interest thereon or otherwise; then, in any of the above set•forth events, lhe whoie inde6tedness hereby secured shall, at the option of Commercial,immediately become due and payable withaut further notice,and the amount due under said note and any other note for additional advances made shall,from Ne date of ihe exercise of said option,bear 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 all sums paid by Commercial for insurance, taxes,assessments and abstract extension charges, with interest lhereon from the date of payment at the maximum legal rate. PROVIDED that in�o event, eilher before or after default, shali 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 thal default occurs in the making of the payments due on said note,and on any other note for additional ; 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 taxes or assessments levied upon Ihe premises above described or upon this morlgage, before they are by Iaw delinquent, Commercial shail be entitled to the immediate possession of the premises above-described, 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 for the purpose of making repairs upon the premises and for the payment of insurance premiums,taxes and assessments upon such premises, and tor necessary expenses inarred in renting said premises and collecting rent therefrom,and to appiy 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 hereby sell,assign, set over and Iransfer unto Commercial all of said rents,proceeds antl 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 Commercialshailin no case be liable for lhe failure to procure tenants,to coilect rents,or to prosecute actions to recover possession of said premises. The Mortgagors further appoint Commercial ot Omaha, Nebraska, their attomey in fact, giving said attomey power irrevocably,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 when vacant,to relet fhe same,to make al I reasonable repairs and pay taxes out of said rents,profits,contract payments or incomes and to do all such things either by its own officers or by other parties duly authorized and appointed 6y it,as its agent for said purpose,and � to charge or pay a reasonable tee for such services, all of ihe ahove to be done at such times and in such manner and on such terms as to their said attomey may seem best,with full power of substitution. The Mortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a parry to any suit or proceeding relating to the herein6efore described real estate,or to this mortgage or said note or nates,other than a foreclosure instituted 6y Commercial,Mortgagors will reimburse Commercial tor all reasonable costs incurred hy Commercial in said suit o�proceeding. The Mortgagors further agree Ihat it the hereinbefore described real estate or any part thereof 6e condemned under the power of eminent domain, or is otherwise acquired For a public use, the damages awarded, the proceeds for the taking,and for the consideration for such acquisition to the extent of the fu�f amount of the remaining unpaid indebted- ness secured by this mortgage,6e,and they hereby are,assigned to Commercial and shali be paid forthwith to Commerciai to be applied on account of the last maturing installments of such indebtedness. Dated this 2�th day of �ri 7 ,19 Z�. IN�IE P�SE� _ u' � � Tho �J. Shav 1 , J Lin a L. Shaver , STATE OF NEBRASKA . � COUNTY OF Hel l ss. � ; Qn this 27th day of Rcrri 1 , 19�, �efore me,a notary public in and fcr said Countv,personally came ? tl�e above•named Thomas J. Shaver and Linda L. Shaver, husband and wife p, y to me well known to be the identical person or persons whose name is or names are affixed to the abave mortgage as gran.or or grantors and they,he or she,severaliy acknowledge the said instmment and�ec�uti�, er od�their voluntary act and deed. � / / WITNESS my hand and NoYarial Seal this day an e r I��,tt�'�t�'7a _�j��y,r,_,i/G�'/ (�,_./�«c,,� � Notary Nubiic — My commission expires on ihe 17th day ot Octob�r .19–�a M�50