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<br />EXPAI0TI~A]E3LE 1VI0R,TGAGE
<br />7~- ~' ~; .~~ "~}c5 ASSIGNMENT QF RENT'S Loan No. 820258-3 _
<br />KNOW ALL MEN BY THESE PRESENTS: That James R. Kurtenbach and Gerre A. Kurtenbach, Husband and
<br />Hrige ~ {Hereinafter caked the Mortgagors} in consideration of the sum of
<br />Tt~ENT't-THREE TH©USA11D ANt3 A10/100--------------------T~,.__~_______.DoNars (S =';wgg pp0 rg**)
<br />loaned to Mongagors, do heretiyy giant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCf~3'I©N o(Omaha,
<br />Nebraska, {hereinafter cattod "COmmercral"}, its successors and assrgns, the following described-real estate, situated in the County ef,
<br />H;~l State of Ffabras#a, to-wit:
<br />Lat Ten (10',, in B2oek-Ten (10}, in-t}nixersity Plata, an Addition to the City of Grand
<br />Island, Halt County, HIebraska;
<br />TO HAVE AND TO HOLD THE SAME, with the appurtenances therunto belonging, unto Commercial, its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Commercial, ifs successors and assigns, that Mortgagors are Iawfullq seized of saiiJ pienisas, that
<br />they are free from encumbrances, and chat they will forever warrant and defend the #ifle to said premises against the lawful claims of -all per>ons
<br />whomsoever.
<br />Provided, nevertheless, these presents are upor, the following conditions:
<br />THa# whereas the said Mortgagors as mmntre;s of Commercia~ have this date executed a note evidencing such !can acd agreeing to repay said
<br />.sum of morey, with interest, in payments as set forth in said note and have agreed to abide Hj the terms of said note and Charter and By-Laws of
<br />Commercial.
<br />That whereas this mortgaga shzll secure any addit!onat advances, with interest, which may, at the option of Commercial, be made Hy Com-
<br />mercial to the undersigned Mortgagors or their successors ir, title for any purpose, at any time before the release acrd cancetlation of this mortgage,
<br />but PROVIDED, HOWEVER, at no Hme strati the aggregate principal amount secured by this norfgage, being the amount due of any Hme on said
<br />original note and arry additional advances made, exceed an amount equal to Ito percent of the amount of the original note, but in nn event shall
<br />said onto exceed the maximum amount permitted by taw, and PROVIDED, HOWEVER, that nothing herein contained shall be considered as !uniting
<br />the amowrt that shad `n seemed 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 tx: paid the said sums of money when due, as set forth in said note, and any other note for
<br />add!tinna! advances made anti! said debt is fully paid with interest, then these presents shall be void; otherwise, to be and remain in frill force and
<br />effect; thrt if dufault should be made:
<br />{a) lr. any of the payments due on szid note, and any other note for additional advances made, as therein agreed to be made for tfiree months, nr
<br />{H} 1n keeping the improvements on said premises insured against loss by reason of fire, lightning, and other hazards Included=inextanded
<br />coverage insurance in an amount not less than the unpaid balance ofi said mortgage loan, in a company or companies accepfatile to Can-
<br />. merdal, the original of such policy or policies to be Held try Commercial, and with a mortgage clause attached tq said policy br policies,.
<br />in favor of Commercial; or
<br />{c} In the payment of taxes and asse>sments levied upon said premises, nr on this mortgage, before they are delinquent; or
<br />{dj if there is any change in the ownership of the real estate mort~ged herein, by sale, either outright nr try land contract, or mf assiwrmcvrt of
<br />any interest thereon nr otherwise; ,
<br />then, in airy of Lhe above set~forth events, the whole indebtedness hereby secernd shall, ak the option of Comnerciat, immediately become due and
<br />payable withoat furUrer notice, and the amount due under said note and any other note for 2ddi bona! advances made stroll, from the date of the exercise
<br />of said option, bear interest at the maximum legal rate per annum, and this mmortgage may Year, be fnreelu;eu' fn ~afisfy ~e amcnrntGue nn-said note, and:
<br />any other note for additional advances, together wish all sums paid b'1 Commercial for insurance, taxes, assessments and abstract extension charges, --
<br />with interest thereon from the date of payment at the naximum legat rate.
<br />PROVIDED that in no event, either before or after defa~.rlt, shall the interest due under said note and this mortgage artd any ether Hate for ad-
<br />ditia~ra! atlvancesmade exceed the maximum !aw#ut interest rate-
<br />PROVIDED, further, chat in the avant that default occurs in the making of the payments due on said note, and on any other note for addikpnal
<br />ad~~ances, as the=sin agreed to fie made, or in keeping the premises insured, as above provided, a if default be made in the payment of the taxes
<br />or assess~~nents levied upon the premises above described a upon this mortgage, before 8rey are by law delinquent, Commercial shalfbe entilkd_
<br />to the immediate possession of the premises atx#ve-described, tngeltror with ail rests, proceeds and issues arising out of the premises, add may -
<br />in its discre5nn use the reefs so far as it deems necessary for the purpose of making repairs ~r~n the premises and for the payment of insurance _
<br />premiums, texas and assessnertds upon such premises, and f,a necessary expenses incurred in renting said premises and cnHechng-tent therefrom, aiid:
<br />to apply same err said note and any notes evidencing future advances hereunder anti! CHe indebtedness secured is fully paid; and for sucH purposrs,
<br />the undersigned deer heretry sell, assign, set over and transfer unto Commercial all of said rc~rrts, proceeds and incarres including+mY fantl crxttracf
<br />payments doe mortgaga owners or any other in^.omes of any tyae whatsoever tram said pr~erty to fie anplied on fire rrotes above-descrbed; txtE said-
<br />Cammernia! shat! in rro case be !fable for the failure to procure tenants, to collect rants, nr to prosewte actions to cecovet possession of said premises.
<br />The Mortga~rs iusther ap~rint Commercial of Omaha, Nebraska, Breir attorney in fact, giving said attorney power irrevocably, either on its own
<br />name or Mortga;~ns' names to take all necessary steps for proceedings in court nr otherwise, to cause said premises to be rotated, to collect rentals
<br />nr ether incomes due, aril when vacant, to retet tiro same, to make aft reasonable repairs and pay taxes out of said rents, profits, contract payments or
<br />incomes and to do all such things either by its ovrn officers or by other parties duly authorized and appointed by it, as its agent for said purpose, and
<br />to charge ar pay a reasonable foe for such sarvirzs. all of Bre above to ~ done at mrch times and in such manner acrd on such terms as to their said
<br />attorney nay seem hest, wih7 fell power n# suf>;titution.
<br />Site Mortgagors hereby agree that if Commercial either voluntarily m invnluntari{y boraces or is made a party to any suitor proceeding relating -
<br />to the heteinbefore described real estate. or to this mortgage or said note an notes, other than a foreclosure instituted by C,anmerciat, Mortgagors wit!
<br />reimburse Crxnmerciat for nit reasonable costs incurred tN Crxnmerciai in said suit nr proceeding. The Athttgagors further agree that if the hereinbefore
<br />descfitred teal estate pr any part thereof he condemned under the power of eminent amain, or is otherwise acquired fo: a public use, the damages
<br />.warded, the proceeds far the taking, and tar ttre consideration for such acquisition to the extent of the full amount of the remaining unpaid irrdebted-
<br />tress entered by this inn#gage, tre, and they hereby are, assigned to Commercial and shalt be paid farthwiifr to Canruerciat to ~ applied on account of
<br />the last mabrringins lmenfs at suctr indabtednass_
<br />i}ated HIrS 1 -day of I}arPr~bPr. , !tj 3t~, ~
<br />i"l THE t='RE~Eft~ OF: ~, f~ %~ _.C.~ir-X'--~i~i
<br />'r - - 3 ?~. Kurfen#saCh
<br />T- - Gerre A. Kurtenbach
<br />~TeTE OF.4dE9f?,A,.SKA
<br />ss.
<br />COUNTY OF HALt` ~- .
<br />On this ~ day of Imber , ~ ~ , before roe, a notary !arblic in and for said County., personally came
<br />khe above named
<br />3ataes A. KrtrtanbaCh anr~ Gpt~tce A. i{urYenbaeh, Hus3>aud and jiife,
<br />ta me vreil knower to be the idrurticat parson or persairs wfwsa nacre is or names are affixed to the above mortgage as grantor or grentars and they, he
<br />or shit, severatl7i 8okrrpwledgE the card in : tie dreir vefpntary act nett dead.
<br />AI~LD0. WIC
<br />tYlTNESS my hand and Notanat Seal this ilhl~ted~. iS79 --~~~~~x~` -_`~ `~ " ~~
<br />'C Ne!~~5~,~R.uhlic
<br />u.. ----'--' ` r tla of ~-, -~ . 19 .~."~ M 50
<br />~y 4v~,::,~>,ne@ erpit8s on me y ~~'''~,.,
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