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~9°°t.~E_ll~i~~ EXPANDABLE Ml'7FtTGAGE 47413 4
<br />a~~iirrlt~€YT .^.F RENrc Loan No. __-----
<br />ISNOW ALL MEN BY THESE PRESENTS: That John W. Doescher and Julie A. Loescher, Husband and Wife,
<br />(hereinafter caned the Mortgagors} in cansideration of the sum of
<br />TWENTY-THREE THOtFsAND nND N4j1OO__________________.._______________Dollars (523 000.00 }
<br />loaned to Mortgagors, da herebyy grant, bargain, set! and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br />Nebraska, {hereinafter called "Commeraai"}, its successors and assigns, the following described real estate, situated in the County at,
<br />Hall State of Nebraska, to-wit:
<br />bat rig.. ris?, ~?s>ck paa„ tub, >'Jesterhoff'. Second Subdirisian in Lhe Citgr of Grand zsiattd,
<br />hall CouaY3v, Nebraska;
<br />TC HAVE AND TO HOLD THE SAME, vrith the appurtenances thereunto belonging, unto Commmercial, its successors and assigns, forever.
<br />Said Mortgagors heretay covenan# with said Cammerciai, its successors and assigns, that tdartgagors are lawfully seized of said premises, that
<br />they are free from encumbrances, and that they will forever warrant and defend the title to said premises against the lawful claims of all persons
<br />whomsoever.
<br />Provided, nevertheless, Lhese presents are upon the following conditions:
<br />That whereas ttte said i'dortgagors as members of Cammerciai have this date executed a Dote evidencing such loan and agreeing to repay said
<br />sur.^, of money, with interest, in payments as set forth in said Hate and have agreer; io abide try t'ne terms of said note and Charier and By~Laws of
<br />Commercial,
<br />That whereas this mortgage shall secure any additional advances, with interest, which may, at the option of Commercial, be made try Cam-
<br />merciai to the undersigned Mortgagors or their successors in ±itle for any purpose. at any time berore the release and cancellation of this mortgage,
<br />but PROVIDED, HOWEVER, at no time shalt the aggregate pr(ncipal amount secured by this mortgage, being the amount due at any time an said
<br />angina! note and any additional advances made, exceed an amount aqua) fa 110 percent of the amount of the original note; bat in no event shaft
<br />said nose exceed the maximum amaunt permitted bl law, and PROVIDED, HOWEVER, that nothing herein contained shall be considered as limiting
<br />the amaunt that shat) be secured hereby when advanced to protect the securty or in accordance with covenants contained in the mortgage.
<br />Now, if the said Mortgagors shall pay or cause to he paid the said sums of money when due, as set Earth in said note; and arty other note for
<br />additional advances made until said debt is tatty paid with interest, then these presents shall 6e void; otherxise, to Ire and remain in full force and
<br />effect; but if default should be made:
<br />tai In any of the payments due on said note, and any other note for additional advances made, as grerem agree6 to be made for three months, ar
<br />(ht In keeping the improvements on said premises insured against Ions by reason of fire, lightning, and other hazards inctudedJn extended
<br />coverage insurance in an amount not Tess 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 by Commercial, and with a mortgage clause attached to said policy or policies,
<br />in flavor of Cammerciai; ar
<br />(c} in the payment of taxes and assessments levied upon said premises, ar en thi; mortgage, before they are delinquent; or
<br />{d; tf there is any change in rho ownership of Nse real estate mortgaged herein, by sale, either outright or by !and contract, or by assignment of
<br />any interest fhereen or otherwise;
<br />then, in any of the above set-forth events, the whole irrdehtedness hereby secured shalt, at the option of Commercial. immediately become due and
<br />payable without further notice, and the amaunt due under said note and any other note for addi Banat advances made shall, from the date of the exercise
<br />of said aptien, treat interest ai the maximum legal rate per annum, and this mortgage may then ~ ferec!csed to satisfy the amaunt due on said rate, and
<br />any other note for additional advances, together with alt sums paid by Cammerciai for insurance. ==xes, assessments and atntract extension charges;
<br />with rnterest thereon from the date of payment at the maximum legal rate.
<br />PROVIDED fiat in rra evert, either tv;fare ar after default, shad the interest ck,e under said aete and this mortgage and any other note far a~
<br />ditional advances made exceed dre ma*rmom :awful interest rate.
<br />PROVIDED, further, that in the event that default occurs in the making of the payments due an said Hate, and on any other note far additional
<br />advances, as thereto agreed to be made, or ir, keeping the premises insured, as above provided, or if default 6e made in the payment of the taxes
<br />or assessments levied upon the premises strove described ar upon this mortgage, before they are try taw delinquent, Commercial shalt be entiNed
<br />to the immediate possession of the premises a~!=re-descritw.d, together with a!i rents, ;,raceeds and issues arising auf cf ;Mo premises, arsd rr~
<br />in its Giscretian use the rants so far as it deems necessary for the purpose of making repairs upon the premises and for the payment of insurance
<br />premiums, taxes and assessments upon such premises, and far necessary expenses incurred in renting said premises and collecting rent therefrom, and
<br />to apply sane an said note and any notes evide;!cing future advances h2{eunder until the indebtedness secured Is fatly paid; and far such purposes,
<br />the undersigned does hereby Belt, assign, set over and transfer unto Commercial all of said rents, proceeds an,7 incomes including any tand aanfract
<br />payments due mortgage owners or any other incomes of any type whatsoever from said property to be applied on the notes above-described; tart said
<br />Cwnmerciaf shatlin no case tae iiabia for the failure to procure tenants, to collect rents, or to prosecute actions to recover possession of said premises_
<br />The Mortgagors further appoint Cernmercial of Omatr, Nebraska. their aftomey in facE, giving said attorney power irrevocably, either on its owa
<br />name ar Mortgagors' names to take a•.i necessary steps for proceedings in court or ottrerwise, to cause said premises to be vacated, to collect rentals
<br />or otfrer incomes due, and when vacant, to retet the same. to make al! yeas?noble repairs and pay taxes cut of said rents, profits, contract-payments or
<br />incomes and to do alt such things either by ifs awn officers ar try other parties duly authorized and appointed by it, as its agent for said purpose, and
<br />to charge or pay a reasonable fee for such services. ail of the above to be done at such times and in such manner and on such ternis 2s to their said
<br />attorney may seem best, with full power of sutastithtian.
<br />The fdortgagors hereby agree that if Commo.c~ai either voluntar,fy or mvoiuntarily becomes or is made a party to any suitor proceeding relating
<br />to the hereinbefore described real estate, ar to this mortgage ar said note er notes, other 4han a fareciosure instituted by Commercial, Mortgagors wilt
<br />reimburse Cammerciai Ear alt reasonable casts incurred by Cammerciai in said suitor proceeding. The Mortgagors further agree that if the hereinbefore
<br />described real estate cr any part thereat be condemned under Gae Dower ci eminent domain. or is otherwise acquired for a public use, the damages
<br />awarded, the proceeds tar the taking, and far the cansideration for such acquisition to die extent ai the fail amaunt of the remaining unpaid indebted-
<br />ness secured by this mortgage, ~, and thep heretry are, assr;ned to Camrrsrciat and fail 6e paid forthwith to Commercial to 6e applied on account of
<br />the tas# mathnng tnstai<ments of szrch indehted~ness.
<br />Da[ed this ~ ~ day of ~'ch , 19 73 , r
<br />iN THE`f'R,£tS-~ENO£ CF. ~~m0 C:.s ~.js~f'_i,f'~c.+
<br />av.' ~C/~~'~~ J 7 ~T. Dvescher
<br />r' :r j
<br />tl~U ~~.fii.,~L;xlc~~.j7.f..'CJ
<br />alto A. Doer-rher
<br />STATg f7F NEL3?ASltk ~ttDTAAX ~ +~ tba6r
<br />ss. AitNOLb n. ~2EttG
<br />COUNTY OF I~li:I+ ~rprmm, 6y, ea. t7, t~z9
<br />fln this _-~.~._. day of ._~~~+5~ , 197 ,before me, a notary public in and-for sai6 Coun
<br />the above-Hamad ty, personalty came
<br />SesTrn F1. Dtreaciber and Julie A. Daescher: husband a~ Wife,
<br />fa me welt known to tie Hte rdenticai parson at parsons whose name is-.ot names are affixed-ta the above mortgage as grantor or grantors and they, he
<br />or she, severalty ackriowtedge tha said instrnmest and t,ha eXecuhan ttierriof; to be their voluntary act and deed.
<br />WiTN£SS my hand and Nofariaf Seat this day and year tact above written.. /' / .:
<br />)~ Notary Public
<br />fmy cammissian expires an the ~ ~ ..,day of ~~~' - ~:`..~ , 19 ~ M-~0
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