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<br />7g_,Uf1'7$1~ EXPANDABLE 1~IORTGAGE
<br />ASSIGNMENT OF RENTS Laan No. 47403-7
<br />KNOW ALL MEN BY THESE PRESENTS: That Gerald R. bald and Patricia C. Gold, Husband and Wife,
<br />(hereinafter called the Mortgagors) in cons ratios of the sum of
<br />FORTY-5IX THpUSAND TW4 HUNDP.ED AND Np/lpp-------------------------Dollars t8•=~4b,200.00**)
<br />loaned to Mortgagors, do ha~e~~yy grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br />Nebraska, ihereinaffer called "Commereraf"), its successors and assigns, the fallowing described real estate, situated in the Countp oi,
<br />Ha~.l State of Nehras!~, to-wit:
<br />Lat pne (1), Sunset Third Subdivision, Hall County, Nebraska;
<br />TO HAVE AND TO HOLD THE SAME, with the appurt~ances 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 ate free from encumbrances, and that they will forever warrant and def~r6 the title to said premises against the lawful claims of altpersans
<br />whomsoever.
<br />Provided, nevertheless, these presents are upon the following conditions:
<br />That whereas the said Afartgagors 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 forth 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 shalt secure any addihnnal advances, with interest, which may, at the option of Gommercial, be made bS! Com-
<br />metciat to the undersigned Mortgagors or their s~~ccessars in title for any purpose, at any time before the release and canceNatian of this mortgage,
<br />but PROVIDED; HOWEVER. at no time shall the aggregate principal amount secured by tlris mortgage, being the amount due at any time on said
<br />original note and any additional advances made, exceed an amount equal to 110 percen± of the amount of the original note, but in no-event shalt
<br />said note exceed the maximum amount permitted by law, and PROVIDED, HOWEVER, that nothing herein contained shall be considered as iimi6ng
<br />the amount -that shall be secured hereby when advanced th protect the security or In atterdante WILT Ce4enanf5 Contained in the mortgage.
<br />Now, !f the said Mortgagors shall pay or cause to tra paid the said sums of money when due, as set forth in-said note, and any other mote fo[
<br />additional advantes made unfit said debt is fully paid with interest, then these presents shz!I 6e void; otherwise, to be and remain in full force and
<br />effect; but if default should be made:
<br />;a) !n zny of the payments due on said note, and any oYner note for additional adwntes made, as therein agreed to be made for three mon9rs, or
<br />{b} to keeping the improvements an said premises insured against I6S5 by reason of fire, lightning, and arbor hazards included in extended
<br />coverage insurance !n an amtwnt not less than the- rmpaid balance of said mortgage loan, m a Companp of companies acceptable t4 Com-
<br />mercial, the original of such policy or polities #o be held by Commercial, and with a mortgage Clause attached to said potity or policies,
<br />in savor of Commercial; or
<br />tc} to the payment of taxes and assessments levied upon said orem!ses, or on this mortgage. before ?hey are delinquent; or
<br />(d} If there is any change in the ownership of the rest estate mor'rgaged herein, by sale, either outri~rt or b1' land contract, ar by assignment of
<br />any interest thereon or otherwise;
<br />then, in any of the above set-forth events, the whole irrdehtedness horeby seared shall, at ttre aptior. of Caimetc!a!, immediately bets- drv' acid
<br />payable widtout hrrther notice. and the amount due under said dote and any other note tot additional advances made shad, from the date of the exercise
<br />of said option, bear interest at the maximum legal rate per annum, and this mortgage may then 6e forec!osod to satisfy the amount due an said rrote; and
<br />any other note for additional advances, together wish alt s<rms paid by Commercial for insurance, taxes, assessments and atrst,•att extension Charges,
<br />with interest thereon from the date of payment at the maximum legs! rate.
<br />PROVIDED that in no event, either be€ore ur aftec defaul#, shall the interest rNte under said note and this mortgage and arty other note tot ad-
<br />ditiona~ advances made exceed the maximum lawful interest rate.
<br />PROV!DED, further, that in ttte event that default occurs in the making of the pa;ments due on said note, and an any other note fw additional
<br />advantes, as therein agreed to be made, or in keeping the promises insured, as above provided, or if default 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 taw delinquent, Commercial shalt be etrtifled
<br />to the immediate possossion of the premises abevre-described, tegeth,er with alt rents, ~ocoeds and issues arising out of the promises, and may.
<br />in its dtscre5on u:,e the rents so far as it deems necessary for the purpose of making repairs upon the premises and fiat Lhe payment of insurance
<br />premiums, taxes and assessments upon wth premises, and for necessary expenses incurred in ranting said premises and cotfecbng rent therefrom, and
<br />io apply soma an said Hato and any Hates evidencing future advantes hereunder anti! the indebtedness secufc-d is fatty paid; and tot such purposes;
<br />ttte undersigned does Hereby sell, assign, set over and transfer unto Commertia( a!! of said rents, proceeds and intones including any Land-contract
<br />payments thre mortgage owners or any other incomes of any type whatsoever from said property to be applied on the notes above~7estribed; brit said
<br />Commercial shall in no case be liable for the failure to procure tenants, fn collect rents, or to prasecuie actions to retoVer possession of said premises.
<br />Tho Mortgagors further appoint Commercial of O:naha, Nebraska. their attorney in fart, giving said attorney power iirevocabty, either on-its own
<br />name or Mortgagors' names to take all necessary steps for proceedings in court or otherwise, ti; cause said promises to be vatatad, to collect rentals=---
<br />or othec inwmes due, and when vacant, to relet the same, to make aN reasonable repairs and pay taxes out of said rents, profits, contract pagmarts-ar
<br />incomes and to do al! 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 nr pay a reasonable fee for such services, all of the above to Ire done at etch times and in such manner and on such terms as to their said
<br />attorney may seem best, with tali power of substitution.
<br />Ttre Mortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a party to arty suitor proceeding relating
<br />to the hereinbefare descri5ed teat estate, of to this mortgage or said note ar notes, other than a foreclosure instibrted by Canmerciat, Mortgagors wilt
<br />reimburse Commercial for a!1 reasmta6te Costs incurr~ ~ Commorciat in saib suR or proceeding. The Mortgagors further agree drat ifthe hereinltafdre -
<br />described real esta#e or anp part thereat be Condemned under the power of eminent domain, or is otherwise acquired fat a public use, ttre damages
<br />awartthd, dra proceeds for the-taking, and for the consideration for sorb acquisition to the extent of the foil amountof the remaining unpaid inde6ffd--
<br />ness seared by this mortgage;- be, and they hereby are, assigned to Cammercia! and shall be paid forthwith to Commercial to be applied on accoeut of
<br />the last mahrrin instal- _ Ir~rts of such indebtedness.
<br />Dathd this~L_day of November , I978 „ ~. ~~Y?.----~
<br />Ger-"d R.. Gold ~;?f? _
<br />r ' ~ ~1 ~
<br />Patricia-C. bold-
<br />STATE OF NfBf[ASKA`M1~ _
<br />COtiNTY OF ss.
<br />Qn thts da of November }9 7$ before roe, a notes
<br />tiro abgv _._._ y y publrc m and ter Bard County; porsonat!y came.,.
<br />Gerald R. Gold and Patriciz C. Gold,; ~ittsband and faffe,
<br />to me weft- known to be the identical person ar persons-whose game is or names ale"af#ix~ toTneabove mortgage as grantor or grantors and they, he
<br />nr she, severalty acknowledge the said insfirmerrt add e r vn!unta[y alt and deed.
<br />~~ l
<br />A a. WEt1~RG %
<br />WITNESS my hand and Notarial Seat this day and y gg,+yn~• Cser, aY. esia ~ ~,~~~, ~~
<br />// Notary f ublic
<br />hYp commission expires on the f ~ day of fiZ-~-~- , 19 si~SD
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