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<br /> �g� U��191 EXPANDABLE MORTGAGE
<br /> ASSIGNMENT OF RENTS Loan No. 45757-6
<br /> KNOW ALL MEN BY THESE PRESENTS:That Reuben Loos and El len C. Loos, husband and wife
<br /> � (hereinatter calied the Mortgagors)in consideration ot the sum of
<br /> f Thirty-5ix 'Thousand Eight tiundred and NO/100--------------------- Dollars(s --36 800.00--) '
<br /> },, loaned fo Mortgagors,do hereby grant, bargain,se�l and conyey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIAI'ION of Omaha,
<br /> y Nebraska, (hereinafter called"Commercial`'), its successors and assigns, the following described reai estate, situated in the County of,
<br /> Hal l State of Nebraska,to-wit:
<br /> S Lot Ten (10) in Block four (4) in Valley Uiew Subdivision of the
<br /> � North 1103_O feet of the East half of the Mortheast Quarter (E�NE�)
<br /> t of Section 22, in Township ll North, Range 9 West of the Sixth P.M.,
<br /> an Addition to the city of Grand Island, Hall County, Nebraska
<br /> TO HAVE AND TO HOLD THE SAME, wiih fhe appurtenances thereunto belonging, unto Commercial, its successorsandassigns,forever.
<br /> t Said Mortgago�s hereby covenant with said Commercial, its successo�s 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 ot all persons
<br /> whomsoever.
<br /> Provided,nevertheless,these presents are upon the follnwing conditions
<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 by the terms of said note and Charter and ByLaws of
<br /> Commercial.
<br /> i That whereas this mortgage shall secure any additional advances, with interest, which may,at the option of Commercial,be made by Com-
<br /> 3 mercial to the undersigned Mortgagors or their successors in titie 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 additional advances made, exceed an amount equal to 110 percent ot the amount of the original note,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 be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage. :
<br /> i Now, if the said Mortgagots 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 /> � additional advances made until said debt is fully paid with interest, then these presents shall be void;otherNise,to be and remain ia full force and
<br /> effecl;but if default should be made: „ ,:;.
<br /> i ,
<br /> 3 (a) In any of lhe payments due on said note,and any other note for additional advances made,as therein agreed to be made for three months,or j�„yY
<br /> -i (b) In keeping tlte improvements on said premises insured against loss by reason of tire, lightning, and other hazards included in extended ��
<br /> � wverage rosurance in an amount not less Nan the unpaid balance of said mortgage loan, in a company or companies acceptable to Com- s�,
<br /> mercial, the original of such policy or pol�cies to be held by Cammercial,and wi th a mortgage clause atlached to said policy or policies, t
<br /> -�€ in fawr of Commerciaf;or �,��
<br /> (c) In the payment of pxes and assessments levied upon said premises,or on this mortgage,before they are deiinquent;or _ `�^-
<br /> 3 (� 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 "
<br /> ,� any interest thereon or otherwise; . 2�
<br /> thed, In any of the above set•forth events, the whole indebtedness hereby secured shall, at the option of Commercial,immediately become due and t `
<br /> . payable wiihout further notice,and fhe amount due under said note and any other note for additionai advances made shall,from the date of the exercise ' ;', � �
<br /> of said option,bear interest at the maximum Iegai rate per annum,and this mortgage may then be foreclosed to satisfy the amount due on said note,and ,„:,F?:
<br /> any other note for additional advances,together with all sums paid 6y Commercial for insurance,taxes,assessments and abstract extension charges,
<br /> with interest thereon from the date of payment at the maximum legal rate.
<br /> PROVIDED that in no event, either before or after default, shall the interest due under said note and this mortgage and any other note tor ad-
<br /> diUanatadvances made exceed the maximum lawful interest rate.
<br /> PROVIDED,furiher,that in the event that default occurs in the making ot the payments due on said note,and on any olher note/oradditional
<br /> advances, as therein agreed to be made, or in keeping the premises insured, as above provided,or if detault be made in the payment of the taxes
<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 ali 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 oi insurance
<br /> premiums,taxes and assessments upon such premises,and for necessary expenses incurred in renting said premises and collecting rent theretrom,and
<br /> to apply same on said note and any notes evidencing fuWre advances hereunder until the indebtedness secured is fully paid•and for such purposes,
<br /> fhe undersigned does hereby sell,assign, set over and transfer unto Commercial ail of said rents,proceeds and incomes including any land contract
<br /> payments due"mort�ge owners nr any other incomes of any type whatsoever from said property to be applied on the notes above-described;but said
<br /> Commerciat shall in no case be liable for fhe faiiure to procure tenants,to collect rents,or to prosecute actions to recover possession of said premises.
<br /> The Martgagors further appoiat Commerciaf of Omaha, Nebraska, their atWmey in fact, giving said attorney power irrevocably,either on its owa
<br /> name or Mortgagors'names to take all necessary steps for proceedings in court or otherwise,to cause said premises to be vacated,to col lect rentais
<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 and to do all such fhings either 6y its own officers or by other parties duly authorized and appointed by it,as its agent tor 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 tn iheir said
<br /> �.} attorney may seem best,with full power of substitution.
<br /> � The Mortgagors hereby agree that if Commerciai either voluniarily or involuntarily becomes or is made a party to any suft or prxeeding relating
<br /> -� to tl�e hereinbefore descri6ed reai estate,or to this mortgage or said note or notes,other fhan a foreclosure instituted by Commercial,Mortgagors wi�l
<br /> �` reimburse Commercial for all reasonable costs incurred by Commercial in said wit or proceeding. The Mortgagors further agree that if Ihe hereinbefore
<br /> described 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 /> � oess secured by this mortgage,be,and they here6y are,assigned io Commercial and shall be paid forthwith to Commercial to be applied on account of
<br /> ihe lastmah�ring instaliments of such indebtedness.
<br /> r Dabed this 25th' day of MaY � 19Z$—. `
<br /> � IN P F: ���o��s ��X/°�� ?
<br /> _ Reuben Loos
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<br /> . , . � . � . . � : . 3.
<br /> E1 n C. Loos ,
<br /> �, S?ATE OF NfBRASKA ,
<br /> x� �' C0�1NTY OF �Hd]7 ss. � � � � /_l��. l� ���� � � �q..� ��
<br /> �� � � �� � � � � ;
<br /> ' 4� 'On.tlus �� th_' daY of �aY � ;19?$,before me,a notar '
<br /> x y y public in and for said Coun y
<br /> ,� , -; tl�e:abbva�amed' " . ly,Personall came � t:
<br /> t :, . , .� ,� �', '
<br /> Reaben Loqs and E1Ten C. Loos, husband and wife �;; �'
<br /> to me weH 1woWn to be�e i0entical petmn or persons whose name is or names are aftixed to the ahove mortgage as grantor or grantors and they,he �
<br /> or she,severaity acknowledge the said instrument and the ezecution thereof,to be their voiuntary act and deed.
<br /> , � _ .. . �.� , �'` . CENERAL 1MrARV-SlN�d N�er.� �%' .
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<br /> WITNESS my hand and Notariai Seal ihis day and.year last above written. A���•��RG / �,
<br /> oec t7.197s �/ /
<br /> . . . . . .. � . ��1�11 Comie.E+F �?�OZI/ ._ ./�.7r � .
<br /> 17th ' October Nolary Pu6hc
<br />�` My commission expires on the day of ,1g79 . M_�p
<br /> + �.�"
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