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<br /> �g—'1jU2566 EXPANDABLE MORTGAGE 818925-2
<br /> ASSIGNMENT OF RENTS Loan No.
<br /> KNOW ALL MEN BY THESE PRESENTS:That Steven L. Husen and Nancy K. Husen, husband and wi fe
<br /> (hereinafter called the Mortqaqors)in consideration of the sum of
<br /> Forty-Five Thousand Five Hundred and no/100----------------------- ooUars(�-45,500.00---)
<br /> loaned to Mortgagors,do hereby gront,bar ain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br /> { Nebraska, (hereinafter called "Commercial"�, its successors and assigns, the foilowing described reai estate, situated in the County ot,
<br /> � Hal l State of Nebraska,to-wit:
<br /> Lot eleven (11), in Block seven (7), in Parkhi7l Second Subdivision, an
<br /> addition to the City of 6rand Island, Ha11 County, Nebraska.
<br /> TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belo�ging, unto Commerciai, its successors and assigns,forever.
<br /> Said Mortgagors hereby wvenant wiih said Commercial, its successors and assigns, lhat Mortgagors are lawfulty seized of said premises,that
<br /> they are free from encumbrances, and that Ney will farever warrant and detend the title to said premises against the lawful claims ot all persons
<br /> whomsoever.
<br /> Provitled, nevertheless,these presents are upon the following conditions.
<br /> That whereas ihe said Mortgagors as members of Commerciai 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 /> CommerciaL
<br /> That whereas this mortgage shall secure any additional advances,with interest,which may,at the option of Cammercial,be made by Com-
<br /> merciai to the undersigned Mortgagors or their successors in title for any purpose,at any time before the release and cancellation o(this mortgage,
<br /> but PROVIDED,HOWEVER,at no time shail the aggregate principal amount secured try this mortgage,being the amount due at any time on said
<br /> original note and any additianal advances made, exceed an amount equal to 110 percent of the amount of the originai note,but in no event shall
<br /> said nole exceed Ne maximum amount permitted by law,and PROVI DED,HOWEVER,that nothing herein contained shail be considered as limiting
<br /> the amount that shall 6e secured here6y 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 l0 6e paid the said sums of money when due,as sel forth in said note,and any other note for
<br /> additionai advances made until said debt is fuliy paid with interest, then lhese presents shall be void:othernise,to be and remain in full forceand
<br /> effect;but if tlefault shoulA be made:
<br /> (a) In any of the payments due an said note,and any other note for additional advances made,as therein agreed to Ge made for three months,or
<br /> � (b) In keeping the improvements on said premises insured against loss by reason of fire, iightning, and other hazards included in extended
<br /> coverage insurance in an amount not less than the unpaid balance of said mortgage loan, in a company or companies acceptable to Com•
<br /> mercial, the original of such poiicy or policies to 6e held by Commercial, and with a mortgage clause attached lo said policy or policies,
<br /> in favar of Commercial;or
<br /> (c) In the payment ot taxes and assessments levied 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 thereon or otherwise;
<br /> then, in any of the above set-forth events, the whole indebtedness hereby secured shall,at the oplion of Commercial,immediately become due and
<br /> - payable without further notice, and the amount due under said note and any other note for additional advances made shall,from the date of the ezercise
<br /> ) of said option,bear interest at the maximum legai rate per annum,and this mortgage may then 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 interest ihereon from the date of payment at the maximum legal rate.
<br /> PROVIDED that in no event,eiNer before or after default, shall the interest due under said note and this mortgage and any other note for ad-
<br /> ditional advances made exceed ihe 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 for additional
<br /> advances, as therein agreed to be made, or in keeping me premises insured, as above provided, or ii default be made in the payment of the taxes
<br /> or assessments levied upon the premises a6ove described or upon this mortgage, befare they are by law delinquent,Commercial shall be entitled
<br /> ' ' to the immediate possession of the premises above-described, togelher with all ren[s, proceeds and issues arisingoutof ffie premises,and may
<br /> in its discretion use the rents so far as it deems necessary for the purpose of making repairs upon Ne premises and for the payment of insurance
<br /> premiums,taxes and assessments upon such premises,and for necessary expenses inarred 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 daes hereby sell,assign, set over and transfer unto Commercial all of said rents,pmceeds and incomes including any land contract
<br /> ' payments due mortgage owners or any other incomes of any rype whatsoever from said property ta be applied on tlie notes above-described;but said
<br /> j Commercial shall in no case he liable tor the failure to procure tenants,to col�ect rents,or to proseate actions to recover possession of said premises.
<br /> � The Mortgagors further appoint Commercial of Omaha, Nebraska, their attorney in fact,giving said attomey 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 renWls
<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 duty 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 tl�e above to be done at such times and in such manner and on such terms as to their said
<br /> aitorney may seem best,with tull power of substitution.
<br /> The Mortgagors herehy agree that if Commercial either voluntarily or involuntarity hecomes 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 lhan a foreclosure instituted by Commercial,Mortgagors will
<br /> reimburse Commercial for all reasonable costs incurred 6y Commercial in said suit or proceeding. The Mortgagors further agree thal if the hereinbefore
<br /> 1 descri6ed real estale or any part thereof be condemned under the power of eminent domain, or is otherwise acquired for a public use,the damages
<br /> ; i awarded,the proceeds for the taking,and for the consideration for such acquisition to the extent of the full amount of the remaining unpaid indebted•
<br /> ' ness secured by this modgage, be,and they hereby are,assigned to Commerciaf and shall be paid torthwith to Commercial to be applied on account of
<br /> ytfie�ast matunng instalt ents of such indebtedness.
<br /> Oated this a-�� day of ,19 2�. (
<br /> - J T E PRESENCE F: --�/�� ��-C��-__._-�j�y-Li--^—�Zs2'�
<br /> r ������DD teven , usen
<br /> �a�a � ���� _
<br /> Nan y K. H en �,r. - ' ^�
<br /> � F ��STATEOFNEBRASKA �- ,� ;:
<br /> �-' COUNTY OF ss. ;; 4�
<br /> �^ ' On this �� da of �e , 19 7�, before me,a notar � 6
<br /> s ` th9 atiove•named y � y public in and for said Counry,personally wme I �< �
<br /> ;u Steven L. Husen and Nancy K. Husen, husband and wife '
<br /> W me weU known to_be the identital person or persons whose name is or names are affixed to the above mortgage as grantor or grantors and they,he � �":"
<br /> ar she,severally acknowledge fhe said instrument and the execuGon thereof,to be their voluntary act and deed.
<br /> G�ERALNOTARK�.r.dM.M.re ��'��:`/�G�,GL� O� �G%e%�
<br /> WITNESS my hand and Notariaf Seal this day a .y Iast a1MMeyjtiCwp��p�q
<br /> �MY m.F+.Oc V.l978 Notary Pu lic �
<br /> My commission expires on the �7�� tlay of ,19� M�50
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