|
� �
<br /> 78-U02738 EXPANDABLE MORTGAGE
<br /> ASSIGNMENT OF RENTS Loan No. 8189 -
<br /> KNOW ALL MEN BY 7HESE PRESENTS:That Howard J. lewandow5 ki_, a s'ng7 e�person and.pn1�.ta Yunk
<br /> � S i 1 ers (heremafter ca�led"the Mortgagors)'in consideration o�t6e sum oi'
<br /> went�,�-�eeen ��iousaad Eight "undred an� n0/700--------------------poliars(3---27 800.00--)
<br /> ' loaned to Mortgagors,do hereby grant, bargain,sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha, I
<br /> Nebraska, (hereinafter cailed "Commercial"), its successors and assigns, the following described real estate, situated in the County of,
<br /> k Hal l State of Nebraska,to-wit:
<br /> Lot seventeen (17) in Block three (3) in Better Homes Subdivision
<br /> ;
<br /> to the City of Grand Island, Hall County, Nebraska.
<br /> TO HAVE AND TO HOLD THE SAME, wiih Ne appurtenances thereunto belonging, wto Commercial, its successors and assigns,torever.
<br /> Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfully seized of said premises,that
<br /> they are free from encumbrances,and that they will forever warrant and defend the title to said premises against the lawful claims of all persons
<br /> � whomsoever.
<br /> a Provided, nevertheless, these presents are upon Ne following conditionr.
<br /> That whereas the said Mortgagors as mem6ers of Commercial 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 hy the terms of said note and Charter and 8y-Laws ot
<br /> Commercial.
<br /> That whereas this mortgage shatl secure any additional advances, with interest, whfch may,at lhe option of Commercial,be made by Com•
<br /> mercial to the undersigned Mortgagors or their successors in ti21e for any purpose,at any time before the release and cancellation of this mortgage,
<br /> but PROVIDED,HOWEVER, at no time shall the aggregate principal amount secured by this mortgage, being the amount due at any time on said
<br /> original note and any additionai advances made,exceed an amount equal to 110 percent of the amount of the original note,but in no event shall
<br /> said note exceed the maximum amount permitted by Iaw,and PROVIDED,HOWEVER,that nothing herein contained shall be considered as limiting
<br /> the amount that shall be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage.
<br /> ` Mow, 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 other note for
<br /> � addiGonal advances made until said debt is fully paid with interest,then these presents shall be void;otherNise,to be and remain in full force and
<br /> "( effect;but if default should 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 be made for three monNs,or
<br /> ;3 (b) In keeping the improvements on said premises insured against loss by reason of fire, lightning, 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 accepta6le to Com• °f'
<br /> = mercial, fhe original of such policy or policies to be held by Commercial, and with a mortgage clause attached to said policy ar policies,
<br /> 4 in tavor of Commercial;or � ;
<br /> (e) In Me payment of taxes and assessments levied upon said premises,or on this mortgage,before mey are delinquent;or s'
<br /> � (d) If there is any change in the ownership of the real estate martgaged herein, by sale,either outright or by land contract,or by assignment of ' ''
<br /> Eany interest thereon or otherwise;
<br /> ihen, in any of the above set-forth events, the whole indebtedness hereby secured shall,at the option of Commercial,immediateiy become due and �
<br /> � payable wifhout(urther notice,and the amount due under said rlote and any other note for additional advances made shall,from the date of tlie exercise � %
<br /> of uid 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 � '
<br /> � any other note for additional advances, together wi th ali sums paid by Commercial for insurance,taxes,assessments and absttact extension charges, `�
<br /> � with interest thereon from the date of payment at the maximum legal rate.
<br /> � PROVIDED that in no evenl, either before or after default, shail the interest due under said note and this mortgage and any other note for ad-
<br /> ditional advances made exceed the maximum lawful interest rate.
<br /> � PROVIDED,further,Mat in the event that default ocars in the making of ihe payments due on said note,and or any other note for additional
<br /> advances, as therein agreed to be made, or in keeping the premises insured, as above provided,or if default be made fn the payment of fhe faxes
<br /> ,� or assessments levied upon the premises above described or upon this mortgage, before they are by law delinquent, Commercial shall be entitled
<br /> to the immediate possession of the premises above-described, together with all rents, proceeds and issues ansing out of fhe 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 pcemises,and for necessary expenses incurred in renting said premises and callecting rent therefrom,and
<br /> i to appiy 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 does here6y sell, assign, set over and transfer 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-describetl; but said
<br /> ; Commeaial shalt in no case be liable for the lailure W procure tenants,ta collect rents,or to prosecute actians to recover possession of said premises.
<br /> � The Mortgagors further appoint Commercial of Omaha, Nebraska, their attomey in fact, giving said attorney power irrevocably,eifher on its own
<br /> S name or Mortgagors'names to take all necessary steps for proceedings in court or otherwise,to cause said premises to be vacated,to cotlecfreafals
<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 aad 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
<br /> �� to charge or pay a reasonable fee(or such services,all of the 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 /> �i The Mortgagors here6y agree that if Commercial either voluntarily or involuntarily becomes or is made a party to any suit or proceeding�elating
<br /> to the hereinbefore described real estate,or to this mortgage or said note or notes,other than a foreclosure instituted by Commercial,Mortgagors will
<br /> reimburse Commercial tor all reasonable costs incurred 6y Commercial in said suit or proceeding. The Mortgagors further agree tl�ai if the herei�before
<br /> � descriGed real estate or any part thereof be condemned under the power of eminent domain,or is otherwise acquired for a pu6lic use,the damages
<br />;� awarded,fhe proceeds for the taking,and for the consideration for such acquisition to the extent of the full amaunt ot the remaining unpaid indebted-
<br /> ness secured by this mortgage,be,and they hereby are,assigned to Commercial and shall be paid forthwith to Commercial to pl�ed on accounto(
<br /> :the lasCmaturing installments of such indebtedness.
<br /> :i Dated this 5th day of May ,19Z8—.
<br /> ? ,IN THEP'E E F 1
<br /> ° � � � oward J ew ndowski
<br /> i m�-' � h�
<br /> ��I l d . U�I w�,,.
<br /> S.TATE OFNEBRASKA
<br /> �� � � ss. � , �. '�
<br /> F: COUNTY OF Hd11 J 4�`;i' �
<br /> ; �;
<br /> :On.this 5�h day of May , 19 ZS_, before me, a notary public in and for said Counry,persanally came � '
<br /> � the above-named
<br /> ;' }
<br /> Ho�vard J. Lewandowski, a single person, and Anita K. Yunk, a sin 1e `'� ��
<br /> g person
<br /> to;me we11 knowri to,be tfie identical person or persons whose name is ot nam a t�b.the above mortgage as grantor or grantors and they,he '� �-'
<br /> �' orshe, severally acknowledge the said instrument and the ex uf�o���tary act and deed.
<br />,ty . � . . . �N.EW'���7�ZSTY . �� f�/
<br /> � WIINESS my hand and Notarial Sea(this day and year las d�. `/C�''�% /� .
<br /> .� -,. .. . . �. ..5r'�rs r.f �
<br /> My commission expires on the 17th t1ay of OCtObeP ,19�¢. Notary Pubi�c M�50
<br />�
<br />
|