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<br />79-- U#.-~.~~~ EXPAIoTDABLE 1lr10RTGAGE
<br />ASSIGNMENT OF RENTS Loan No. 474142
<br />KNOVy ALL MEN BY THESE PRESENTS: That Clarence F. Burris and Elizabeth R. Burris, Husband and Wife,
<br />(hereinafter called the Mortgagors) in cons~~raj~o~r0 f~t~e sum oy
<br />TWENTY THOUSAND THREE HUNDRED AHD NOl100--__..__._.._________________Dol(ars (S ~
<br />!oared to Mortgagors, do herebbyy grant, bargain, self and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br />Nebraska, (hereinafter called "Gammercral"), its successors and assigns, the tot?owing described real estate, situated in Ehe County of,
<br />Ha11 State of Nebraska, to•wit:
<br />I:ot Three C3) in Block Forty t+0) in Charles Wasmer's Addition to the City of brand Island,
<br />Ha1i County, Nebraska;
<br />_ T^v HAVE AND TO tfOLQ TkE SAME. with th~ appurtaraneas thereunto belonging, unto iommercial, its successors and assigns, forever.
<br />Said fdortgagors hereby covenant with said Commercial, its successors and assigns. that frfortgagors are lawfully seized of said premises, that
<br />they are free from encumbrances, and that they wilt forever warrant anu defend the title to said premises against the aawuu{ claims of all persons
<br />wtramsaever.
<br />Provided, nevertheless, these presents are upon the following conditions:
<br />- Tnat whereas the said Mortgagors as members of Commercial have this date zxecutetl a note zvidencing such Iran and agreeing to repay said
<br />sum of money, with interest, in payments as set forth in said note and have agreed to abide hY the terms of said note and Charter and Bylaws of
<br />Commercial.
<br />That whereas this mortgage shall secure any additional advances, v;ith interest, which may, at the option. of Commercal, he made by Cam-
<br />merciaf to the undersigned Mortgagors or dreir successors in title for any purpose, at any time before the release and cancel{ation of this mortgage,
<br />[wc PROVIDED, HOWEVER, at na time she!! the aggregate principal amount secured by this mortgage, bung the amount due at any time en said
<br />original note and any additional advances made, exceed an amount equal to ILO percent of the amn~~nt of Ehe original note, iwt in no event shaft
<br />said note exceed the maximum amount permitted !'Y taw, and PROVIDER. HOWEVER, thzk nothing herein contained shall he considered as limiting
<br />the amount that she!! be secured hereby when advanced tc protect the scour!*y ar in accordance with covenants contained in me mortgage.
<br />Nnw, if the said Mortgagors shall pay or cause io be paid the said sums of money wfien due. as set forth in said note, and any other opts for
<br />additional advances made until said debt is fully paid with interest, then these presents shall be void: nthervise, to 6e and remain in full force and
<br />effect: but if default should be made:
<br />tat In any of the payr,,ents due an said note; and any other note for additional advances made, as therein agreed to 6e made far three months, or
<br />rb; fn keeping the improvements on said premises insured against less by reason of fire, lightning, and other hazards included in extended
<br />coverage insurance in an amount not less than the unpaid balance of said mortgage loan, in a company or companies acceptable to Com-
<br />mercial, the original of such policy or policies to be held ~ Commercial, and with a mortgage clause attached to said policy or policies,
<br />in favor of Commercial: m
<br />fc) in ttre payment of taxes and assessments Levied upon said premises, a an this mortgage, before they are delinquent; or
<br />fd) tf there is any change - ow:~ership.of the real zstate mortgaged hereto, by sale, either outright cr al land contract, or b}' assi~rimentof- - --
<br />any interest thereon ar : ;e;
<br />then,, in any of dte above set-fc 's, the whdfe indebtedness hereby secured she!!, at Ehe option of Commercial, immediately t>ecpmE due and
<br />payable without further notice, arc ...- ant due under said note and any ou~zr note far additional advanGc> made shelf, from the date of the exEieise
<br />of said option, bear interest at the maximum legal rate per annum, and this mortgage may then be foreclosed to satisfy the amount due on said note, and
<br />arry other note for additions! advances, together with al# sums paid ay Commercal for insurance. taxes, assessments and abstract extension charges,
<br />:vitn interest therm from dte date of payment ac lire m2ximu;;: legal rate.
<br />PROVIDED that in ao event, either Irofore or after default, shall the interest due under said note and this mortgage and any other oats for ad-
<br />ditional advances made exceed the maximum !awful interest rate.
<br />PRdV!DED, further, that in ms event chat default occurs in the making of the payments due an said Holz, and on any other note for additional
<br />advznces, as therein agreed to be made, or in keeping die premises insured, as above arovideC, ar if default be made ir. the payment of the thxes -
<br />or assessments levied upon the premises above described or upon this mortgage, before they are hY law delinquent, Commercial shalt ~ enti~led-
<br />to the imi:izdiate possession of the premises above-described, to~ther with alt rents, procezds and issues arising out of doe premises, and may
<br />in its discretion use the rents so €ar as it teems necessary for U;e pucpase of making repairs upon the premises and far the payment of insurance
<br />premiums, taxes and assessments upon such premises, and for necessary expenses incurred in renting said premises and collecting rent therefrom, and
<br />th apply same an said Hate and any notes evidencing future advances hereunder unfit the indebtedness secured is roily paid; and for such purposes,
<br />'die nndersigned dnES heredy SEN. 3SSign, Sgt n"SF and tranSfEr ;Into CammErCl3f a!I of S31d rents, prO+reedS and Incomes iAGtUding any land CantlaCt
<br />payments due mortgage owners or any other incomes of any type whatsoever from said property to ~ applied nn Ehe notes above-described; brrt said
<br />Commercial shall in nn case ~ liable for the failure th procure tenants, to collect rents, r tc prosecute actions to recover possession of said premises.
<br />The Mortgagors further appoint Commercial of Omaha, Nebraska, their attamey rn tact, giving said attorney power irrevocably. either nn it; own
<br />name or Mortgagors' names to take all necessary sups foe proczedrngs in court nr otherwise, io cause said premrses to be vacated, to celfeci rentals
<br />or other incomes due, and when vacant, to re€et the same, to make all rzascnabfe repairs and pay taxes out of said ren#s, profits, contract payments or
<br />' incomes and to do all such things either by its own officer ar by other patties duly authorized and appointed by +i, as its agent for said purpose, and
<br />tc charge ar pay a reasonable fee for such services. a!I of the strove to be done at such times and in such manner and on such terms as to their said
<br />2ttomey may sEEm best, with full power of substibrtian.
<br />The Mortgagors hereby agreE Ehai if C_~~mzrcial either vo!urtaniy nr mvo;untarily 6zcames or is made a party to any suitor proceeding refacing
<br />to the heroin~fcre described real eshte, nr to this mortgage nr =_aid note nr notes; other than a faeciosure instituted by Commercial, Mortgagors will
<br />reimtxxss CommErcial for ail roasnnahfe costs i_rflrrrE~; aY Co-mmErciaf !n said suitor proceeding. Thz Mortgagors further agree that if the hereinbefore
<br />described real estate or any part thereof fro condemned under the power of E;ninent domain, or is otherwise acquired far a public use, the damages
<br />awarded, the prdceeds for the taking. and far thz consideration far such acquisfhon to the extent of the fuH amount of the remaining unpaid indebted•
<br />Hess secured hS' this mortgage, frE, arA they hereby are. assrgnEtl to Commercial and shall be paid forthwith to Commercial to be applied on accountof
<br />-the last mabdriag ins'ati , Ents of such ntlebtEdress.
<br />Gated this t day of T March _ , la 79 ~
<br />trd THE PRESENCE OF: ~~~G-~ -acs-~°-,r ~ '~'~ir-s.~'
<br />Clarea~,ce F. Burris
<br />E1iz k R. Burt~ib
<br />STAT'c OF NEBRASKA
<br />ss.
<br />caDrfTV f~;= HALL.
<br />On tbls :_:,.~._ day of la`*ch 14y~ , frEfare me, a notary puttfic iri and for szid Caurity, personalty came
<br />itie atwve•named _Clarence F. Bnrri~a a~ E1s:~ai;eth R; B^is, Husband and Wife,
<br />tQ mE vrelt known to be me identical person or persons whose nameis or names are affixed above mortgage as grantor or grantors and they, he
<br />wshe,-severaif}+-acknowledge the said iristrunfart ar,~d the execu ' n :.t~€ fict and deed.
<br />pt.0 R. WEP
<br />~t,17, t97S/}
<br />SVITNESS mp hand and Notarial SEat this day and yEaf tact a ~""~'~' I ~-L ., ~V,; ~~, f 4, i f ~ ,r~~,
<br />~,~' J Notary Public
<br />:`rty rroo~mfssion expires on the_ /~ day of"~"~`'~`~',.~ , i9-~~
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