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<br /> 78.- 002740 E XPAN DABLE MO RTGAGE
<br /> ASSIGNMENT OF RENTS Loan No. 818934-1
<br /> KNOW ALL MEN BY THESE PRESENTS:That Dana L. Bernth and Jul i e G_ Bernth, husband and wi fe
<br /> {hereinafter called the Mortgagors)in consideration of the sum oi
<br /> Twenty—Four Thousand One Hundred and no/100-----------------------Dollars(s---24 100.00--)
<br /> i loaned fo Mortgagors,do hereby grant, bargain,sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIAI�ION of Omaha, .
<br /> Nebraska, (hereinafter called "Commercial"), its successors and assigns, the following described real estate, situated in the County of,
<br /> Hal l State of Nebraska,to-wit:
<br /> Lot ten (10) in Block one (i) in Mevas First Addition to the
<br /> City of Grand Island, Hall County, Nebraska.
<br /> TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns,forever.
<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 defena the title to said premises against the lawful claims of all persons
<br /> whomsoever.
<br /> Provided,nevertheless,these presents are upon the Following condilions:
<br /> That whereas the said Mortgagors as members 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 forlh in said note and have agreed to abide by the terms of said note and Charter and ByLaws of
<br /> Commercial.
<br /> � That whereas this mortgage shail secure any additional advances, with interest,which may, at the option of Commercial,be made by 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 PROVI�ED, HOWEVER, at no time shall the aggregate principal amount seared hy this mortgage, being the amount due at any time on said
<br /> original note and any additional advances made,exceed an amount equai to 110 percent of the amount of the originat note,but in no event shall ,
<br /> said note exceed the maximum amount permitted 6y law,and PROVIDED,HOWEVER, ihat nothing herein contained shall be considered as limiting
<br /> the amount that shali be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage.
<br /> Now, if the said Mortgagors shalt pay or cause to be paid the said sums of money when due,as set forth in said nole,and any other note for
<br /> additional advances made until said debt is fulty 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 on said note,and any other note(or additional advances made,as therein agreed to be made for three montbs,ar
<br /> (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 acceptable to Com-
<br /> mercial, the original of such policy or policies to be held by Commercial,and with a mortgage clause atWched to said palicy or policies,
<br /> in favor of Commercial;or
<br /> (c) In the payment of 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, hy sale,either outright or by tand contract,or by assignment of
<br /> any interestthereon or otherwise;
<br /> � ihen, in any of the above set-forih events, the whole indebtedness here6y secured shall,at the option of Commercial,immediately become due and
<br /> paya6le without 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 /> 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
<br /> � any other note for additional advances, together with all sums paid by Commercial for insurance,taxes,assessments and abstract extensioa charges, '•<<�
<br /> with interest thereon from the date of payment at the maximum legal rate.
<br /> ,` f PROVIDED that in no event,either 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 the maximum lawful interest rate.
<br /> PROViDED,further,ffiat in the event that default occurs in the making of the payments due on said note,and on any oNer note for additional
<br /> advances, as therein agreed to be matle, or in keeping the premises insured, as above provided,or if default be made in the payment ot the taxes
<br /> or assessments levied upon fhe premises a6ove described or upon this mortgage, before they are by law delinquent,Commercial shall be entitled
<br /> to the immediate possession of ihe premises above-described, together with ali rents, proceeds and issues arising out of the premises,and may
<br /> , j 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 collecting rent theretrom,and
<br /> ' ; W apply same on said note and any notes evidencing future advances hereunder until the indebtedness secured is fuity paid;and for such purposes,
<br /> ihe undersigned does hereby sell,assign, set over and transfer unto Commercial all of said renls,proceeds and incomes including any land contract
<br /> payments due mortgage owners or any other incomes o(any type whatsoever from said property ta be applied on the notes above�described;but said
<br /> Commercial shall in no case be liable for the failure to procure tenants,to collect rents,or to prosecute actions lo recover possession of said premises.
<br /> The Mortgagors further appoint Commerciai of Omaha, Nebraska, their attorney in fact,giving said attomey power irrevacably,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 rentals
<br /> or otder 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 otficers ar by other parties duly authorized and appointed by it,as its agent for said purpose,and
<br /> t to charge or pay a reasonable fee for such services,ali of Ne above to be done at such times and in such manner and on such terms as to lheir said
<br /> attorney may seem besl,with full power of substiWtion.
<br /> The Mortgagors hereby agree ihat if Commercial either voluntarily or involuntarily becomes 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 than a foreclosure instituted 6y Commercial,Mortgagors will
<br /> ` reimburse Commercial for all reasonable costs incurred by Commercial in said suit or proceeding.The Martgagors further agree that if the hereinbefore
<br /> descri6ed teal estate or any part thereof be condemned under the power of eminent domain, or is otherwise acquired for a public use,the damages
<br /> awarded,the proceeds for the taking,and for the consideration for such acquisition to the extent of Ne full amount of the remaining unpaid indebted-
<br /> ness seared by this mortgage,be,and they hereby are,assigned to Commercial and shall be paid forthwith to Commercial to be applied on account of
<br /> the last maWring installments of such indebtedness.
<br /> Dated this 5th day of MaX , 191$_. �� .�
<br /> IN PR E i(/�+,..� �j�..�
<br /> ��^� � Dana _ Ber�t, h
<br /> �;. .
<br /> Juli G. Bernth �
<br /> t i ' STp?EOFNEBRASKA SU�°otN��' �
<br /> N���� OBEPG �°
<br /> � � CouNTv oF Buffalo 55' AaN���aoa.+ • "y ;
<br /> � • On this 5th day of �Y , 19 �8, b ��tary public in and for said Counry,personally came
<br /> , � ��the above�named �� �� � _ � � � �� 4'�� � �-a
<br /> Dana L. Bernth and Julie G. 8ernth, husband and wife ,,_�
<br /> to me weH known to 6e the identical peison or persons whose name is or names are affixed to the above mortgage as grantor or grantors and they,he `'' �`
<br /> oT she,several(y acknowledge the said instrument and the execution thereof,to be their voluntary act and deed
<br /> WITNESS my hand and Nafarial Seal this day and year last above written.
<br /> Nolaty Public I
<br /> My commission expires on the 17th day of flctnhPr ,i9��, M-50 �
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