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<br /> � �
<br /> .78-, U02803 .
<br /> ��'"�—f�$��'-�'S EXPANDABLE MORTGAGE
<br /> ASSIGNMENT OF RENTS Loan No. 44628-4
<br /> KNOW ALL.MEN BY THESE PRESENTS:That Larry C. Glazier and Cheryl A. Glazier,, husband and wife
<br /> (hereinafter called the Mortgagors)m consideration of the sum of
<br /> Fifty Thousand and no/100-----------------------------------------oouars(5 50 000.00--- )
<br /> � loaned to Mortgagors,do hereby grant, bargain,sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOC�ATION of Omaha.
<br /> Nebraska, (hereinafter called "Commercial"), its successors and assigns, the following described real estate, situated in the County of,
<br /> Na11 State of Nebraska,to-wit:
<br /> Lot One (1), in Capital Heights Eighth Subdivision, in NW4 of
<br /> Section 2, Township 11 North, Range 10 West of the 6th P.M.,
<br /> Hall County, Nebraska.
<br /> TO HAVE AND TO HOLD TNE 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 defend the title to satd premises against the lawful claims of all persons
<br /> whomsaever.
<br /> Provided,nevertlieless, these presents are upon the following conditions:
<br /> That whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing lo 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 by Com-
<br /> mercial to the undersigned Mortgagors or their successors in title(or any purpose,at any time 6e(ore the retease and cancellation of this mortgage,
<br /> but PROVIDED, HOWEVER,at no lime shall the aggregate principal amount secured by this morigage,being the amounl 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 original nole,but in no event shall
<br /> said note exceed the maximum amount permitted by law,and PROVIDED.HOWEVER,that nothing herein contained shall be considered as limiting
<br /> the amount that shall 6e secured hereby 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 to be paid Uie said sums of money when due,as set forth in said note,and any other note for
<br /> additional advances made until said deht is fuily paid with interest, ihen these presents shalt Ge 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 6e made tor three months,or
<br /> (6) 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 policy or policies to be held by Commerciai, and with a mortgage ciause atWched to said policy or policies,
<br /> in favor af Cammercial;or
<br /> (c) In the payment ef faxes and assessments levied upon said premises,or on this mortgage;before they are delinquent;or '
<br /> (d) If ihere 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 arty af the above set-forth events, lhe whole indebtedness hereby secured shall, at the option 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 exercise
<br /> of-said option,6ear interest at the maximum legal rate per annum,and this mortgage may then be foreclosed to salisFy the amount due on said note,and
<br /> any other note for additional advances,together with ali 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. �,,.,. ?
<br /> PROVI DED that in no event, either before or after default, shall the interest due under said nole and this mortgage anA any other note for ad-
<br /> ditianal advances matle exceed the maximum lawiul interest rate.
<br /> PROVIDED,further,that in the event that default ocars in the making of the payments due on said note,and on any other note for additional
<br /> ' i advances, as therein agreed to be made, or in keeping the premises insured, as above provitled,or if delauft be made in the payment of the iaxes -
<br /> or assessments levied upon the premises above described or upon this mortgage, before they are by law delinquent,Commercial shal�he entitied
<br /> to the immediate possession of the 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,faxes and assessments upon such premises,and for necessary expenses incurred 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 seared is fully paid;and for such purposes,
<br /> the undersigned does herehy sell,assign, set over and transfer unto Commercial all of said rents,proceeds and incomes inciuding any land contract
<br /> payments due mortgage owners or any other incomes of any type whatsoever from said property to he applied on Ne notes above-described;but sald
<br /> Commercial shal�in no wse be'liable for Ihe failure to procure lenants,to coilect rents,or to prosewte actions to recaver possession of said premises.
<br /> The Mortgagors further appoint Commercial of Omaha, Ne6raska, their attorney in fact, giving said attorney 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 coliect renfals
<br /> or other incomes due, and when vacant,lo 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 duly 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 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 ol substitution.
<br /> The Mortgagors here6y agree that if Commercial either voluntarily or involuntarily becomes or is made a parry to any suit or proceeding relating
<br /> to the hereinhefore descrihed real estate,or to this mortgage or said note or noles,other than a foreclosure inslituted by Commercial,Mortgagors will
<br /> reimburse Commercial for all reasonable costs incurred by Commercial in said suit or proceeding. The Mortgagors turther agree that i(the hereinbefore
<br /> descrihed real 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 the full amount of the remaining unpaid indebted-
<br /> ness secured 6y this mortgage,be,and they hereGy are,assigned to Commercial and shall be paid forMwith to Commercial to he applied on account of
<br /> the lastmaturing installments of such indebtedness.
<br /> �ated this 24th day ot F�bruar� , 19Z�.
<br /> ; I P NCE OF: � —
<br /> ��� Larr C Glazier
<br /> , �����I��/'s�/� ' /� ( /����� ,� /\
<br /> t = ' �1�'���'�"' 1L�Le' �"„-�✓ 4
<br /> � Cheryl A. Glazier ,, •
<br /> ` � STATE OF NEBRASKA
<br /> t ss. �
<br /> C011NTYOF Hd17 � ,; '
<br /> r � :.
<br /> , `. On Nisr 2�1"d ��p( FeDruarv _, 19�$, before me, a notary public in and for said County,personalry came
<br /> the above•named T— � `
<br /> _ _ Larry C. Glazier and Cheryl A. Glazier, husband and wife ;�'}�
<br /> tn me well known to be the�denticai per �w���a�,�,o�<�•��m (fixed to the above mortgage as grantor or graators and they,he
<br /> or she,severaliyacknowledge the said in tru t and th�MR���Cthl101f�F�6e th ir voluntary act and deed.
<br /> MR
<br /> GENERAL fIQTARY
<br /> WITNESS my hand and Notarial Seal this y�ar Ia�A6�vediFriiiE8RA5KA �_J
<br /> CamttYnlon Ex . Se 29. :879 .gf•� �
<br /> otary Public �
<br /> My commission expires on the 29th day of September ,�g J9, rn so
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