|
r-
<br />~~,,_, ~~~> ~~ )EXPAi'61DABLE l~iQRTGAGE a2ozsa-I
<br />ASSIGNMENT OF RENTS Laan No. _~_._ __
<br />KNOW ALL MEN i3Y THESE PRESENTS: That Byrn D. Evans and Kirnherly A. Evans, Husband and Wife,
<br />(hereinafter called the Mortgagors) in consideration of the sum of
<br />Twenty-two fihousand Fifty and NoJ10C-----------------°-----------pollars(SZ~,G5~3.0O )
<br />funned to Mortgagors, do herebyy grant, bargain, sell and convey unto COMMERCtAt FECERAI SF,YINGS AND LOAN ASSOCIATION of Omaha,
<br />Nebraska. [hereinafter called "Commercral"), its suceessors and assigns, the fo!towing described real estate, situated in the County of,
<br />Hall State of Nebraska, to-wit:
<br />*acst ten t3r~?, in Hlerck £ie~en ill), iii Crsilege ndditi~n to nest t,aw~r in tt;e City t3f
<br />Grand Island, Hali County, Nebraska;
<br />TO HAVE ANC TO HO! 0 THE SAME, with the appurtanances thereunto belonging, unto Commercial, Its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that Mnrtgagors are lawfully seized of said premises, that
<br />they are free ham encumbrances, and that Ceey will forever warrant and defend the titre to said premises against the law#ul claims of art persons
<br />wtromsoever,
<br />Provided; nevertheless, these presents are upon the fcPlowing conditions:
<br />That whereas the said Mortgagors 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 Cy the terms of said rote and Charter and CY-Laws of
<br />Commercial.
<br />That whereas this mortgage shaft secure any additional advances, with interest, which may, at the option. of Commercial, ~ made bf' Com-
<br />mercial to the undersigled Mnrtgagors o: their successors in title for any purpose, at any time before the release and cancellation of this mortgage,
<br />tart PROYiCEO, HOWEVER, at no time shall the aggregate principal amount secured b'1 this mortgage, being the amount due at any time on said
<br />original note and any additional advances made, exceed an amount equal to lltl percent of the amount of the original note, but in no event shaft
<br />said note exceed the maximum amount permitted try taw. and PP,OVlpEO, HOWEVER, that nothing herein contained shat) be considered as limiting
<br />the meraunt that stead 6e secured hereby wfien advanced to protect the security or in accordance with coverranfc contained in the mortgage.
<br />Now, if the said Mortgagors shall pay or cause to be paid the said sums afi rrnney wfien due, as sat Forth in said note, and any mlher note for-
<br />ac~tlitiaial advances made until said dept is fully paid with interest, then these presents shall be veil: otherwise, to be and remain in foil force and
<br />effect; but if default should Pre made:
<br />iaj In any cf the payments due on said note, and any other note fcr adtlitiona! advances made, as therein agreed to bs made for three months, or
<br />(bj In keeping the improvements on said premises insured against loss by reason of fire, lightning, acrd other hazards included in extended
<br />c;,ve;age ir~susanra irr mr amount nut less than the unpaid balance cf said mortgage loan, in a company or companies acceptable to Com-
<br />menial, the angina! of such policy or policies to be held (ry Commercial, and wrth a mortgage clause attached to said pofrcy or policies,
<br />in favor of Ccmmerciat; or
<br />?cj In the payment ofi fazes and assessments levied uoan said premises, nr an this mortgage, ! y€ore they are delintuent; or
<br />!d'; tf there is any change in the ownership of the real estate mortgaged herein, by sate, either outright or hl land contract, or try assi~rmerrt of
<br />any interest thereon or otherwise;
<br />Crei, in any of the ahoue set-forth events, the whore indebtednss hereby securest shall, at 'she option of Commercial, immediately 6ecorne due-and
<br />payabte without further nonce, and the amasnt due under said note and any other nose for addifionai advances made shalt, from the date of the exercise
<br />of sa€d ^prim!. ~2r ;nteresf at the maximum levat_ calls ~r annum, and this martgaee may than ~ foreclosed tc satisfy the amasnt due ary saisf note,. and
<br />any ether not: for additional advances, together with nit sums paid ''Y C~srnmerciai fcr insurance, fazes, assessments and abshact extension char,,
<br />with interest thereon from the date o€ payment at the maximum legs! rate.
<br />PROYtCED that in no event, either before or afte da#auit, shall the interest rk;e uncles said note and this mortgage and any cCrer note for ad-
<br />ditional advances made exceed the maximum Iawfu, interest rate.
<br />PRGYICEC, further, Crat irr the event that default occurs in the making of the payments due cn said nose, and on any other note for additional
<br />advances, as Ynerein agreed to tie made, or in keeping the premises insured, as above provided; w if default be made in fire payment pf the taxes
<br />or assessments levied upon the promises above described or aeon this mortgage, before they are by law delinquent. Commercial shaft he artitte6
<br />tr, Gee immediate possessicn of s e pramis€s atxs~-desait~. ta~th2r with nit rerrfs, proceeds and issues arising x:t of the premises,. ar~d may
<br />in ifs discretion use the rents so far as it deems necessary for the purpose of nuking repairs upon the premises and for the payment of insurance
<br />premiums, faxes and assessments upon such premises, and far necessary expenses incurred in renting said premises and collecting rent therefrom, and
<br />to apply same an said note and any notes evidencing hsture advances hereunder unhi Me indebtedness secured is fully paid; and for suctr purposes,
<br />the undersigne6 does hereby self, assign, set over and transfer unto Commercial al! at said rents, proceeds and incomes including any rand rorrtract
<br />payments due marigage owners or any other incomes of any type whatsoever from said property t4 be applied on the notes a~ve•described; tart said
<br />Commercial shall in no Casa be liable for the failure to procure tenants, to collect rents, or to prosecute actiono to recover possession of said premises.
<br />The Mortgagors further appoint Commercial of Omaha, Nebraska, Their attorney in fact, giving said attemcy power irrevocably, either on its own
<br />Warne nr Mortgagors' names to take ail necessary steps for proceedings in court a otherwise. to cause said premises to 6e vacated, to collect rentals
<br />c~~ other incomes due, and when vacant, to rater the same, to maze all reasonable repairs and pay taxes out of said Teats, profits, contract payments or
<br />incomes and to do ail such things either by its own. officers or Gy other parties duty authorized and appointed by it, as its agent for said purpose, and
<br />to charge or pay a reasonable fee fcr such services, all of the above to be done at such times and in such manner and en such terms as to their said
<br />attorney may °an Cast: with tut! power of s>.+i;sti:ution.
<br />Tie Martga~rs hereby agree t#at if Co:'^,mercia! eihar voiuntan!y or invo'.i~ntari!y trecomes ar is made a Forty th any suitor proceeding rotating
<br />to the hereinbefore described lea: estate, or io this mortgage nr said note er natal, other than a foreclosure instimtett by Commercral, Mortga~rs wilt
<br />reimburse Commercial for all raasonattle ccsw i.^.curr`d T Ccat:^serc:al in said suit er proceeding. The Mortgagors further agree Drat if the ttereinbefore
<br />described teat estate or any part th?reef Lm cendgraod under the power of eminent domain, or is otherwise acquired for a public use, Cie damages
<br />awarded. Cie-proceeds for the taking, and far the cansideratiar; for sash acquisition to the extent of the felt amount of the remaining unpaid indebted•
<br />ne.,s seared by-this mortgage, be, and they harebY are, assigned =c. Commercial and steal! ~ paid forthwith to Commercial to be applied on account of
<br />the fast mati:nng irents of sJch indebtedness.
<br />Cated Cris- ~ day of Eecemben , tg i99 . p-
<br />tfQ R ~ OF~ j ~~~?lG~h Its _ "~-~
<br />~' ._- r Evans
<br />--~' .~.ry-y-' ~.'~~" { ~~ '~i_- ice- ~~'r"~'~
<br />Ki~erly A. F,~ans
<br />STATE OE N;=Ht?ASKA f
<br />ss. i~
<br />COtiNT't Of HA,~LL/
<br />On !tees ~ day of D~re~tz~r 24 Z£t_ , BeFore me, a notary putsFic iq and-ter said County, personatiy came
<br />a;#ave-rzanted $ys°~r. J. Estes Ki;,3serly A. Esransy l~easband dvd Flife,
<br />to me-watt known W be the identical per~n or persons whose-names ara affiixed fe the above mortgage as grantor or grantors and they, lie
<br />or she, severalty acknowl~ge the said instnrm t their voluntary act and heed.
<br />kANQLG Q''- ~, ~7, 947 -
<br />WITNESS my hand and Notarial Seaf this dayreil~t'ifen. f~~J~ j
<br />f Notary Pubiic~
<br />fdycommissionexpiresvnthel~_r-.._,.__. _dayof~' ,t9, M-50
<br />
|