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<br /> 78--UU2E55 ��spl�I�?T.J 4�LF.�'' M�}ZTr AC� -�i
<br /> ASSIGNMENT OF RENTS Loan No. 818931—7
<br /> KNOW AlL MEN BY THESE PRESENTS:That SteVen L. Jensen and Debra R. Jensen, husband and wi fe
<br /> (hereinafter called the Morigagors)in consideration of the sum oi
<br /> i Thirty—Four Thousand Two Hundred and no/100-----------------------oollars(s-34 200.Ofl-- )
<br /> loaned to MoRgagors,do hereby grant, bargain, seil and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br /> r Nebraska. (hereinafter called "Commercial"), its successors and assigns, the following described reai estate, situated in the County of,
<br /> Hd71 State of Nebraska,to-wit:
<br /> Lot Eight (8) in Block Twenty-Eight (28) in Gilbert's
<br /> Third Addition to the City of Grand Island, Hall County, Nebraska.
<br /> TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, its successorsandassigns, forever.
<br /> Said Morlgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfully seized of said premises,that
<br /> Ney are free from encumbrances,and that Ihey will forever warrant and defend the title to satd premises against the lawful claims of all persons
<br /> whomsoever.
<br /> Provided,nevertheless, these presents are upon the foilowing conditions:
<br /> That whereas the 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 Commercial,be made hy 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 /> but PROVIDED, HOWEVER,at no time shall the aggregate principai amount secured by this mortgage,6eing the amount due at any time on said
<br /> original note and any additional advances made, exceed an amount equal to 110 percent of the amount of the ariginal note,6ut in no event shall
<br /> said note exceed the maximum amount permitted by law,and PROVIDED,HOWEVER,that nothing herein confained shall be considered as limiting
<br /> the amount that shall be secured hereby when advanced to protect the security or in acwrdance 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 forth in said note,and any ofher note for
<br /> additional 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;6ut if default should 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 tor three months,or
<br /> (b) In keeping the improvements on said premises insured against loss by reason of fire, lightning, and olher hazards inciuded in extended
<br /> coverage insurance in an amount not less than the unpaid 6alance of said mortgage loan,in a company or companies accepWble to Com-
<br /> mercial, the original of such policy ar policies to 6e held by Commercial, and with a mortgage clause attached to said policy or palicies,
<br /> in favor of Commerciai;or
<br /> (c) In the payment of taxes and assessments levied upon said premises,or on this mortgage,hefore they are delinquent:or
<br /> (d) If tliere is any change in the ownership of the real estate mortgaged hereia,by sale,either outright or by land contract,or by assignment of
<br /> any interest thereon or olherwise; -
<br /> lhen, in any of the a6ove set-forih events, the whole i�de6tedness hereby secured shall, at the option of Commercial,immedialely become due and
<br /> payable witfioot further notice,and the amount due under said note and any other note for additional advances made shall,from the date of the exercise
<br /> ot said option,bear interest at the maximum legal rate per annum,and this mortgage may then be foreclosed to satisfy the amount due on saitl 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 thereon from the date of payment at the maximum legal rate. r^"""'"
<br /> PROVI�ED that in no event,either betore ar after defauit, shall the interest due under said note and this mortgage and any other note for ad-
<br /> ditional advances made exceed the maximum lawful interest rale.
<br /> PROVIDED,further,that in the event that default occurs in the making of the payments due on said note,an0 on any other note for additional
<br /> advances, as therein agreed to be made, or in keeping fhe premises insured, as above provided,or if default be made in the payment of the taxes
<br /> or assessments levied upon ihe premises above described or upon this mortgage, before they are by law delinquent,Commercial shall be entitled
<br /> to the immediate possession of fhe 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 collectiog rent therefrom,and
<br /> to apply same on said note and any notes evidencing future advances hereunder unti I the indebtedness secured is fully paid;and for such purposes,
<br /> the undersigned does here6y sell,assign, set over and trans(er unto Commercial all of said rents,proceeds and incomes including any land contract
<br /> � payments due morigage owners or any other incomes of any type whatsoever from said property to 6e applied on the notes above-described;but said
<br /> ? Commercial shall in no case be liable for the failure to proare tenants,to collect rents,or to prosecute actions to recover possession of said premises.
<br /> The Mortgagors further appoint Commercial of Omaha,Nebraska, their attorney in fact, giving said attorney power irrevocably,either on its own
<br /> name or Martgagors'names to take all necessary steps for proceedings in court or otherwise,to cause said premises to 6e vacated,to collect rentals
<br /> or other incomes due,and when vacant,to reiet the same, to make all reasanable repai rs and pay taxes out of said rents,profits,contract payments or
<br /> `� ineomes and to do all such ihings either by its own officers or by other parties duly authorized and appointed by it,as its agent far said purpose,and
<br /> to charge or pay a reasonable fee for such services,all of ihe above to be done at such times and in such manner and on such terms as to their said
<br /> attomey may seem best,with full power of substiWtion.
<br /> The Mortgagors hereby agree that if Commercial either voluntarily or involuntari ty becomes or is made a party to any suit or proceeding reiating
<br /> to the hereinbefore described real esfate,or to this mortgage or said note or notes,other than a foreclosure instituted by Commercial,Mortgagors will
<br /> � reimburse Commercial for all reasonable costs incurred by Commercial in said suit or proceeding. The Mortgagors further agree ihat if the herein6e(ore
<br /> E descriDed real esWte or any part thereof be condemned under the power of eminenf domain,or is otherwise acquired for a public use,the damages
<br /> awarded, fhe proceeds for the taking, and for the consideration for such acquisition to the extent of the full amount of the remaining unpaid indehted-
<br /> ness secured by this mortgage,be,and they hereby are,assigned to Commercial and shali be paid forthwith to Commercial to be applied on account of
<br /> the last maturing instal Iments ot such indebtedness.
<br /> ,� Dated fhis 2nd daY of MaY �191�.
<br /> ; IN T PR £ CE #'!�
<br /> ; f �� � en l.. Jensen , }
<br /> ' �' UC2.Q,�'l-'
<br /> � Debra R. Jensen 4 '�
<br /> #
<br /> $TATE OF NEBRASKA *�:: „� ,
<br /> ss. I r; -
<br /> CouNTv oF Buffalo 3�
<br /> �",� -' On this 2nd day of May , 19 J$, before me, a nolary public in and far said County,personally came ��" "
<br /> ide above-named s"
<br /> , . ,,y
<br /> " Steven L. Jensen and Debra R. Jensen, husband and wife ��. ,,,,� �"�
<br /> to me well kpown to be the identical person or persons whose name is or names are affixed to�thg e mortgage as grantor or grantors and they,he
<br /> S ar she,severallyacknowledge the said instrument and the execution ihereof,to_�g��p�p1�l�a�and deed.
<br /> . �11E�w�C.�y�BER / ,.
<br /> k WIINESS my hand and Notarial Seal this day and year last above writt ��a.FaF�°�'�T� �
<br /> Notary Pu ic �
<br /> My wmmission expires on the 17th day of g6�e�et' � 19-�9�•
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