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<br />REAL ESTATE MORTGAGE
<br />(Open-End, To Secure Present and Future Obligations and Advances)
<br />KNOW ALL MEN BYTHESEPRESENTS: Thai Roger W. Luft, President of Regency Construction, Inc',itindlviduals,
<br />jointly and severally. residing in Ha 11 County, Grand I s land, NE ; and if a corporation or other busintssentity, with lis
<br />prtncipal place ot business in Ha 11 CouOfy, Grand Island, NE , (hereinallerreterrO<! to as "Mortgagor") in considefa'
<br />IionofaItMortgagor'sindebledness, liabilities. and obligalions to The Commercial National Bank & Trust Co.
<br />of Ha 11 County, State of Ne bra s ka ("Mortgagee"), now existing or hereafter incurred, and other valuabte conslderati.on in hanq- paid.
<br />does hereby self and convey unto Mortgagee the following described premises situated In ~!__ County ana State 01 Nebraska.
<br />to~wit
<br />
<br />83:" 004532
<br />
<br />Lot eight (8) in Block Eight (8) in Rollins' Addition to the City of
<br />Grand Island, Nebraska
<br />
<br />rogether WIth oill of !he ngnt, lItle. aM Interest of the Mortgagor In saId property now owneo or hereafter 3.cowfed and all bUllomgs. impr,ollements. and fixtures ot any type
<br />now or hereafter placed on saId real property and all easements. rights, appurtenances rents royalhe'S 0>1 ana gas fights and proflls, water. water rights, and water stock,
<br />and all fIxtures- now Of hereafter a!lached to the foregOIng descnbed property. all of whiCh IncludlOg repi".:prnents and additions thereto, shall be oeemed to be arn:l remaln
<br />part 01 the prooerty covered by ttus Mortgage All at {he 10regolOg property shall be col!ectlvely herelnaftel relerrea 10 as the Premises
<br />
<br />ThiS mortgage tS gIven to secure a certaIn promIssory note dated ~ Augu?~_~~---,,__J.98L_ __. ____ In the pnnclpals~m at ._.four Thou~
<br />~~~ hu~cir:_E:.,~_~~~...9.L!.QQ=:::=_:-_::=:-.~==----=_-=-=-~-==-.._ Doilers (s.._~0_0~_o.Q__!. and Interest fhereon according 10 the. terms of
<br />saId note ana any and all extenSions, renewals. mOdificatIOns, or subslltutlons thereof and eacn anO every deOt ilaoiilty and obligation of every type and description WhlCh the
<br />Mortgagor may now or at any Hme hereafter owe to fhe Mortgagee whether such debt, lIabll1tv or ObltgaliOn 'lOW eXIS!S or IS or may be dlfect or mdlrect. due or to become
<br />due. absolute or contingent. prrmary or seconcary. liqUIdated or unliqUIdated, or JOInt. severaL or Imot ana several. all such debts l1aolililes and obligations all collectively
<br />hereinafter referred 10 as 'ObllgallOns
<br />
<br />The total pnfiClpal amount, ex:clUSlve 01 rnteresl. of!M Obligations inCluding any future debts advances, liabIlities or Obhgaf1Ons. nat inCluding hOwever any sums ad.
<br />vanced lor the orotectlOn of the PremIses or 1M Mongagee's mteresl therem shaH no; exceea the sum ot Four Thousand, Seven Hundred and.
<br />no /100---------------------------- Dollars ($~~...tX~~_Q2__._ I. orO\r'lOeo. hOwever lhal nOlhmg contamed herem shall constitute
<br />a commItment to make additIOnal or tuture loans or advances In any amount
<br />
<br />The Mortgagor hereoy warrants thaI It IS lee owner 01 the mortgaged real property That II W!li de!enc !he 11;le agamst ail cl?lma'1ts wnomsoever ana It relmQUlShes all
<br />rights oi hOmestead m saId PremIses an(l covenants ana agrees Wlttl the Mortgagee as follows
<br />1 To pay when Que aU taxes. liens, ludgments. or assessments wnlch may oe lawfully assessee 3<;:al:1S11ne P:el'T1!ses ana the rental charges upon an~' leases aSSIgned
<br />as additIOnal secur;t~ lor !hls Mortgage
<br />2 TO Insure anO keep msured the Premises ana olher Improvements now on or wnlCh mav helea!1e~ Dr; o;aced on scud P'e~THses 1C the sal1sfacllQn of the Mortgagee
<br />Any POliCy eVloenclOQ such tnsurance shall be endorsed With a mortgagee loss payable Clause, approved 0'0' (lI'lC tI1 tJ~or::l1 MOr1gagee al1d de;JOSlled With ttle Mortgagee and
<br />WIth any lOSS thereunder to oe payable 10 Mortgagee At lIle option 01 the Mortgagee sums SO receiVed 0" Mor!gagee 0' ~'oftgagor rna'o' De useo !O pay lor reconstructIon of
<br />the oestroyed Premises, or 11 nol so aopl'ed may at the oPtion ot Ihe Mortgagee be applleo If' oaymen! O' 3r>,;, i)O!lga!lOns I'latureo or unmatured secured by thIS Mortgage
<br />3 To keeo all bUlidmgs occupIed and m gooo repaIr ana 10 retram flom t~e commiSSIon 01 any arl~ e>! .!:,!'1!~j' dernOIl!lon or Impallmenf 01 the PremIses. no! 10 cut or
<br />remove or oermtl 10 tie cut or removeO any wood or tImber trom said real property. ana nollOcommlt c: ~e-~"l _~i:r 'haste O' i!11PJlrment 01 the value oj the secunty: to contin-
<br />uouSly practice <1pproved methods ollarmlng on saId Premises to prevent erOSiOn aMIne spread 01 "l(':(JO:;S 3,,0 aamagH'9 .\&'os <l'1Q!e D'eserve tne lertllny of the SOil
<br />4 That a:i money a'ld awards payabie as damages or compensation lor !he takmg at hUe to or :JosseS~lOn C! Q' tor oamage tD dny Dorllon 01 the Premrses 0'11 reason of
<br />any condernnallon emlnenl oomau1, Change 01 grade, or other prOCeedlOg snaU, al the option ollhe MOr!gayee. De 0310 IG ltle Mortgagee. and such moneys and awards are
<br />hereny ass1gr.eo to MOr1gage€. and ludgment therefor shall be entered In favor of Mortgagee. ano when oalO shall tie used, :JIlts OPlron, toward lhe payment 01 the Ooltgahons
<br />secured hereO, In such order or manner as MOr1gagee may aeslre or determtne. Of snaIl be useQ al ;ts cpllon. tor payment al laxes dssessments. reoalrs or other Items lor the
<br />payment ot Whlcn lhlS Mortgage IS gIVen as securrty, whelMr the same be Inen due Of not ana!r Such creer or ~anner dS MOrtgagee may deler;T\me anQ any amount not so
<br />used shall De releasea oy the Mortgagee 10 the Mortgagor Such aophca!lon or release st1all not cure 0' .....alve any default 01 10reciosure p10ceemngs 111 the event Mongagee
<br />deems It necessary to aopear or answer 10 condemnation achon. heanng or oroceeolng Mortgagor S,tl5:Ycr~iegd1 expenses '[1 ~Gr1r.ectIO:l ~flerew!ln InClUdmg but nollim-
<br />Ited to allorneys lees and court costs and unt~1 SO paId. such ex:penses. wltn mteresl at the rale ot _. _ o~rcerli, snaIl De doOee 10 llle OOhgatlons secureo hereOy !n
<br />Such manner or oroer as Mortgagee may OeSlre or determme haVing me beneft! 01 t~e hen createo hereoy as " pari rJereo! a'10 ot lIs orlOff'"
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<br />5 ThaI In me event Morlgagor falls to pay wnen due any td:l.eS rental Charges uoon any leases asslgneo as adOlhondl security lor thIS Mortgage. hens. 1udgments, or
<br />assessments lawluliy assessee agalOsllne Premtses. or jaIlS 10 mamtalO mSUiance as neii:mtle1ore prO\llQed MOf!Q,agee may l1ldKe suCf1 pavmenl or prOVIde sf~ :'8~ance.
<br />and lne amounlts) paid lherelor shall become a part ctlhe ObllgdhOns securea nereoy Due and paydDie lmmeoldterv dP.Q sndll Dear I'1lere~1 allhe rate 01 __ _-.-__ _ percent
<br />per annum from dnd at the lIme the Mortgagee makes such paymenl
<br />6 TnallO the event Mortgagor defaults In the paymen! ot ally ollhe Oilllgaftons or Of any !lUeres! lnereon. a! me ll111e whtn ftle ~J.me snaIl be due, or WIth respect to any
<br />covenant or con(lillOn nereG!. then. allfle opllon 01 Mortgagee, tne entire Obligations secured t1efeby shaH 10nhwlltllJe1;ome due and DayaOle, ana the Mortgagee may 1m.
<br />medIately toreclose IhlS Mortgage or pursue any other available leg.al remedy In Ihe event of any acMo by Mortgdgee 10 enlorce co1lecUoll o! any 01 the Obligations secured
<br />hereby _ tne MOf1gagor agrees thaI any expense IOcludmg Without hmltallOn attorneys lees ana costs Incurred 111 conneCllon thelewllh or InCurred to procure or extend an
<br />abstract 01 title shall. when mcurred or paiC! by Morlgagee, oecome a part 01 the OOhgatlons secureo hereOy ana shaH oe palO by Mortgagor togetner WIth aU of the taxable
<br />costs 01 such acllon
<br />7 Thatm the event any actIOn IS broughl to foreclose thIS Mortgage lor all or any part of the OOhgallons secured nereby lhe MOrlgagee shalt De en!llled to Immediate
<br />possesSIOn of the mOltgagea ~remlses. and the court. or a Juage lhereol hi vatallOn, may appoHlt and the MOflgagof hereby consents 10 the apPointment at a receIver to lake
<br />possession of saHi Premises to collecl and recellle rents and profits anslfIG tnerelrom, ana lrom any moneys so ccllectea. to pay taxes, plovlde msurance make needea re-
<br />pairs to lmpro....emenls upon the Premises, and make any other expenditures authome<l Oy the court, and apply any sum remainIng alter trle payment of Such authonzeO ex-
<br />pendUures upon tile Obligations
<br />8 That faIlure Of delay of Mortgagee 10 exercise any of Its nghls or pllvIleges or to Inslsl uDon SH1Cl pertormance 01 dny co..en<ints or agreements ot Mortgagor conlam-
<br />~ in this Mortgage shalt never De construed as a waiver 01 any reqUIrement or obilgahon at MOrfgagor or right 01 remedy 01 Mortgagee cOlllarned In or basea upon an,. 01 the
<br />terms. prOVISIons. agreements or covenants of nHS Mortgage or any fulure defaults
<br />9. That in case at default m the payment 01 any ollhe Obhgalions or in case 01 pdymenlDy Mortgagee 01 any lien, judgmenl lall., msurance. cost. or expense. SJld
<br />Mortgagee shall have the privilege. without declaring the whoie iOdebtedness due anO payable. to foreciose on account of such specdlc delauil tOf such OOhgailons as are In
<br />default an(! such foreclosure proceedings may be l1ad and the land descnbed herem may be solO, subleet 10 the unpalo ODhgal1Ons l1ereby secured. and IhlS MOrlgage snail
<br />conlinue as a.J.ie~ !~r ?~y ,~n~i.d.~~n:e_of, ~~e ~Obligations
<br />10. Mortga'gdr:ass?'S"afKHSeltvlOto~e ~gaQee all nghl, tllle. Interest. and Oemand tn and to rents ano prof tis 01 ihe PremIses ana o~es assign 10 Mortgagee all
<br />leases of the Prerntsas now.DtheceatltM" made, wQJlen or})faL and does empower Mortgagee to collect and receipt for all rents MongagOl QlfeCIS.i1i lenants to pay rent due or
<br />to beCome aue'to Mortgag~. The IElf[l1.ot \his assignment IS l.lntillhe Obligations are tully paid. ThIS asslgnmenl shall not become opelahve unless aefault IS made In the
<br />covenants. terms. and condilions of any of the Obligations or this Mortgage
<br />1'. If any part of Ihe Premises are lransferred or sold Wlfhout the pnor wnflen consent oj the Mortgagee. the OOllgallons mdy ",1 the option 01 lhe Mortgagee oe deClareD
<br />immediately due and payable and this Mortgage may be foreclosed as set forth in paragraphs 6 and 7 of thiS Mortgage
<br />12. Thatth.ePr~mjsesaretreeafldclearofaHliensandenc:umbrancaswhatsoever.ell..cepl. _ _ Real. Estate Lien in the ;lmounl. \Jf
<br />E [even Thousand, eigh~_ hun~!ed _0~~~i2'--,,!:,<!_60f1()O (]L~~_: f,02 to Home Felk.raL~a_"iJ]&s
<br />and Loan Association
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<br />13. In tne event Mortgagor shall, without the pnor vmtlen consent oj Mortgagee. mortgage Of otherWise encumbl'lr the P,el1ll:.()S Jr ;..lei/nil me Premises to be en
<br />cumbered in any fashIon, then Mortgagee may, at Mortgagee's optton, declare all Obligations 10 be lmrnedfiHely due and PdYJblB dnll ,n \uC!l el-'enlHlIS Mortgage may oe lore
<br />closed as set forth in paragraphs 6 and 7 of this Mor1gage
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<br />14. Thai If any proviSionS tlereol shOuld be held unenforceable or VOid. Then such plovlslon shall De deemed SepaiJD1e trom !nc e'ndilliily I)IQVISiOllS Jnd shall If1 110 way
<br />atlect Ihe vali(llty of this Mortgage
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<br />CNB 02.200-1104
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