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� � 78-�02659 EXPANDABLE MORTGAGE ASSIGNMENT OF RENTS Loan No. 44654-3 ItNOW ALL MEN BY THESE PRESENTS:That Herbert G. Henschel and Lucie P. Henschel, husband and wife (hereinafter called the Mortgagors)in consider bon of the sum of Thirty—One Thousand Six Hundred and no/100------------------------ooliars(3--�7,600.00--� ( ` loaned to Mortgagors, da 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 of, Hal l State of Nebraska,to-wit: Lot Three (3) in Block Seven (7) in Claussen Country View Addition to the City of Grand Island, Hall County, Nebraska. TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns,fotever. Said Mortgagors hereby covenant with said Commercial, its successors and assigns, thal Mortgagors are lawfully seized oi said premises,that they are free from encumbrances, and that they will forever warrant and defend the title to sald premises against fhe lawtul claims of all persons whomsoever. Provided,neverthetess,these presents are upon the following cnnditions. That whereas the said Mortgagors as mem6ers of Commercial have this date executed a note 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 terms of said note and Charter and By-Laws of CommerciaL That whereas this mortgage shall secure any additionat advances,with interest, which may, at the option oF Commercial,be made by Com- mercial to the undersigned Mortgagors or their successors in title for any purpose,at any time before the release and cancellatian oF this mortgage, but PROVIDED, HOWEVER,at no time shall the aggregate principal amount secured by this mortgage,being the amount due at any time on said original nate and any additionai advances made, exceed an amount equal to 110 percent of the amount of the original note,butin no event shall said note exceed ihe maximum amount permitted by law,and PROVIDED,HOWEVER,that nothing herein contained shaii be considered as limiting � the amount fhat shali be secured hereby when advanced to protect the securiry or in accordance with covenants contained in the mortgage. Now, if the said Mortgagors shall pay or cause lo be paid the said sums of money when due,as set forth in said note,and any other note for additional advances made until said debt is fully paid with interest, then these presents shall be void;othereise,to be and remain in full force and effect;but if default should be made: E (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 montfis,or j (b) In keeping Ne improvements on said premises insored against lass by reason of fire, lightning, and other hazards included in extended i coverage insurance in an amount not less than the unpaid 6alance of said mortgage loan, in a company or companies accepWble to Com- i mercial, the original of such policy or policies to De held by Commercial, and with a mortgage clause atWched to said policy ar policies, ; in favor of Commercial;or (c) In ihe payment of taxes and assessments levied upon said premises,or on this mortgage,betore they are detinquent;or � (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 4 .� ; j any interest thereon or otherwise; � � then, in any of the above set-fortl� events, the whole indebtedness hereby secured shal l, at the option of Commercial,immediately become due and ' payab�e without further notice,and the amount due under said note and any other note for additional advances made shall,from Ihe date of fhe exercise .�i 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(or additional advances,together with aIl sums paid 6y Commercial for insurance,laxes,assessments and a6stract extension charges, .:,„�„„, . ; witl�interest lhereon from the date ot payment at the maximum legal rate. � ' PROVIDED that in �o event, either before or after default, shall the interest due under said note and this mortgage and any other note for ad- j ditional advances made exceed the maximum lawful interest rate. { PROVIDED,turtlier,tfiat in the event that default occurs in the maki�g of the payments due an said note,and on any other note for additiona� r advances, as therein agreed to be made, or in keeping the premises insured, as a6ove provided,or if defauit be made in the payment of Ne taxes j or assessments Ievied upon the premises above described or upon this mortgage, before they are by law delinquent,Commercial shall 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 For necessary expenses incurred in renting said premises and collecting rent therefrom,and to apply same on said note and any notes evidencing future advances hereunder untii the indehtedness secured is fully paid;and for such purposes, ? the undersigneG does hereby seli,assign, set over and transfer unto Commercial al�ot said rents,proceeds and incomes including any land conUact ; payments due mortgage owners or any olher incomes of any type whatsoever fram said property to be applied on the notes above•descri 6ed;but said Commercialshallin no case be liable for Ihe failure to procure tenants,to collect rents,or to prosecute actions to recover possession of said premises. ' The Mortgagors further appaint Commercia�of Omaha,Nebraska, their attorney in fact, giving said attomey power irrevocabiy,either on its own � name or Mortgagors'names to take all necessary steps for proceedings in wurt or otherwise,to cause said premises to be vacated,to coliect renials or ofher incomes due,and when vacant, to relet the same,to make all reasonable repairs and pay taxes out of said rents,profils,contract payments or 7; 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 for said purpose,and to charge or pay a reasonable fee for such services, all ol the above to be done at such times and in such manner and on such terms as to their said x attorney may seem best,with full power of substitution. The Mortgagors hereby agree ihat it Commercial either voluntarily or involuntarily becomes or is made a parry to any suit or proceeding relating to the hereinbetore described real estate,or to this mortgage or said note or notes,other than a foreclosure instituted by Commercial,Mortgagors will reimburse Commercial for all reasonable costs inarred by Commerciai in said suit or proceeding.The Mortgagors furNer agree that if the hereinbefore described real estate or any part thereat be 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 ot the full amount of the remaining unpaid indebted- ` ness secured by lhis mortgage,be,and they hereby are,assigned to Commercial and shall be paid lorthwith to Commercial to be applied on account of ,� the last maWring installments of such irtdebtedness. ' Dated this �St day of Ma�r ,197�.. / �. � � O ; IN THE PRE E OF: ��e:g�e��G/. i7«%rc4GhL._/ Herbert G. Henschel � , � Luc�e P.`He�hel��rt-^�c� _ � � �� STATE OF NEBRASKA � ,. y ss. �^ ,' � . couaiv OF Buffaio � . � � � � • 'Oa fh�s ' i st' day of �May , 197$_, 6efore me, a notar � ' y public in and for said County,personally came k , �,� �.. the above•named '' s�Y� Nerbert G. Henschel-and Lucie P. Henschel, husband and wife ��, �: ' to me weU known to be the identical person or persons whose name is or names are affi the above mortgage as grentor or grantors and Ney,hc i ' or she,severally acknowledge the said instrument a I�' vo un act and deed. ,.� WITNESS my hand and NOTarial Seat this day and y �.w'r�� OwrMN1 Jrw�l�. 1!� ' � My wmmission expires on the 18th aay ot June ��Q_ Notary Public M-50