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~~--~~~~-~~~ EXPANDA~3LE MORTGAGE
<br />ASSIGNMENT OF RENTS Loan Nc. _4741.5-0
<br />KtJOW ALL MEN SY THESE PRESENTS: That Curtis N. Christensen and L~sida M. Christensen, Husband
<br />and Wife, (hereinafter coiled the Mortgagors) in consrderatron of the sum of
<br />EIGHTEEN `THOUSAND AND N0I100--------------------------------------Dollars ($ 18 000.00 i
<br />loaned to Mortgagors, do hereby grant, bargain, see and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSDC~ATION of Omaha,
<br />Nebraska, (hereinafter called "Commercial"), its successors and assrgns, the following described real estate, situated in the County ot,
<br />Hail State of Nebraska, to-wit:
<br />Lot Six (6) in Block Seventeen t17) is Kernohaa and Decker's Addition to the City of
<br />Grand Zslaud, Hail County, Nebraska;
<br />70 NAVE AND TO HOLD THE SAfdE, with the appurtenances fiiiereuntc hRienginz. unfa Commercial, its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Commerc+a., its successors and assigns. that Mortgagors are lawfully seized of said premises, that
<br />they ate free from encumbrances, and that they wilt forever warrant and defend the title to said premises against the lawful claims of all persons
<br />whamsrever.
<br />Provided, nevertheless, these presents are upon the following corditiens;
<br />That whereas t!a said Pkartgag~3rs as mcrbers of Commercial have f its date executed a note evidencing such loan and agreeing to repay said
<br />sum cf money, wrth interest, in payments as set forth rn said note and have agreed to abide fn' the forms of said note and Charter znd By-Laws of
<br />Commercial.
<br />Ttrat whereas this mortgage shall secure any additonat advances. with interes?. which may, at the option of Commer~+al, be made by Com-
<br />marciaE to the undersigned Mor?gagers or their successors in title for any purpose, at any lime before the release and cancellation aE this mortgage,
<br />but PROVIDED. NOwEVER. at no time shah the aggregate principal erne nt secured by this mortgage, being the amount due at any time on said
<br />rriginai note and nay add=tinnal atl4~ances made, exceed an amount equal to f lU percent of the amount of the original note, Got in no event shall
<br />said note exceed the ;=iaximum amount permitted by ta'w, and FROVtDED, H0IYEVER. that nothing herein contained shat! be considered as @miting
<br />the amount that shat+' ~ secured hereby when advanced to protect the securihy or rr. accordance with covenants contained in the mortgage.
<br />Plow. rf the said 4tartgagar<_ shat! pay m taus? io 5e paid fhp said sums of money when due, as set forth in said note, and any other note for
<br />additrG,nal advances made anti! card debt ~s fu'fy paid with interes?, then these presens shah be void: od?erxise, to be and romain in full farce and
<br />effect; ~t if default should he made:
<br />?ai in any of the payment=_ dve on said note, and any aUer note for addifiorai advances made. as Therein agreed to be made for three months, or-
<br />(b) Ir, keeping the improve;nents on said premises insured against loss by reason of fire, Irgh4ning, and oNer hazards included M extended
<br />coverage insurance in an amount not less than the unpaid balanre of said n;arfgage loan, ,n a comoany or companies acceptable fo Com-
<br />mercial. the origioal of such policy or ooiicies to 6e held b; Cammereial. am; with a mortgage clause attached to said policy o[ policies,
<br />in favor of Commercial: ar
<br />!c~ In the payment of taxes and assessments levied upon said premises, or on this rri.rtgage. before they are delinquent; or
<br />"dl If than is any change in thz ownership of the real estate mortgaged herein, by sale. either aufright or by land contract, or by assignmern:,t
<br />any interest Thereon or otherwise;
<br />then, in any of the above set-forth events, the whole indebtedness hereby sen'red shall: a•. the apt,on of Commercial, immediately lreceme due and
<br />payable without further notice, and the amaant due under said note and-any other note foe additional advances made shat(, from the date of the exercise:
<br />of said option, bear interest at the maximum logo( rate per annum. and this mor±gage may Then be fa[eciased to satisfy the amount due on said date, and
<br />any other note for additions( advances, together with aft sums paid ty+ Cammercia fa[ insure: se, r~xec_, a5sa_ssments and abstract extension charges,
<br />with interest thereon from the date of payment at the maximum legal rats. _
<br />PROVlDEO that in no event, either before ar allot defeat!, shall the interest due under said note and this mortgage and any other note for ad-
<br />drhora1 ad4an€e5Tiad2 eXCeed the maxtmllm fawfut mteteSt rate.
<br />PROVtOED, further, that in the event That default occurs in the making cf the paym~-rts due on said note, and on any other note for addit<anat
<br />advances, as therein agreed to he made, or in keeping the premises insured, as above provided. ar if default be made in dte payment of the taxes
<br />ar assessments levied upon the premises shave desuibed or upon this mortgage, before they are by law delinquent, Commercial shall 6e entitled
<br />to the immediate possession of the premises above-described, together with all rents, proceeds and issues arising out of the premises, and-may
<br />in if> drscrefiGn USe the i~f5 SC tai as ii deems neCeSSaiy for file pt;[pcse Of moving repairs'apGn the premises and f°vr the payniEnt dt InSUranee
<br />premiums, taxes and assessments upon such premises, and far necessa; j expenses incurred in renting said promises and collecting rent therefrom, and
<br />to apply same on said note and any notes evidencing future advances hereunder until the indebtedness secured rs fatty paid; and for such purposes,
<br />the undersigned does heretry sell, assign, set over and transfer unto Commercial all of said rents, proceeds and incomes including any land-contract
<br />payments due mortgage owners or any oth,.~ incomes of any type whatsoever from said property to be applied on the notes above-described; art said
<br />Commerciaishall in no case be liable for the failure fo procure tenants, to collect rents, or to prosecute actions to recover possession of said premises.
<br />The Mortgagors further appoint Commercial at Omaha, Nelxaska, their attorney .n fact, giving said attcrnep power irremcably, eitfter on its own
<br />name ar Mortgagors' names to take al! necessary steps for proceedings in court or otherwise, to cause said premises to be vacated, to collect rentals
<br />or othes incomes due, and when vacant, to relet the same, th mane a+! reasonable repairs and parr taxes cut a? said rents, profits. cartract payments or
<br />incomes and to do all such things either by its otim officers a[ by other parties duly authorized and aepaintad by it, as its agent for said purpose, and
<br />to charge ar pay a reasonable fee for such services. aN of me above to be done at such times and in such manner and on such terms as to their said
<br />attorney may seem best, with full power of substitution.
<br />Tae Mortgago€s trereby agree that if Canmercial either voiuntarr;y or invalanWn!y becomes or is made a party to any suitor proceeding relating
<br />to the hereinbefore described rear estate, or fo this mortgage or said note or notes, other than a finecfesure instituted try Commercial, Mortgagors wiH
<br />reimburse Commercial for all reasonable casts !ncucred by Commercial in said smt or proceeding. Tne Mortgagors further agree that if the hereinbefore
<br />descried real estate or any part ?hereof t>e conderned under ±he power of eminent r;ornain, or is otherwise acquired far a public use, the damages
<br />awarded, the proceeds for the taking, and for the consrderatron for such acquisition to the extent of the full amount of the remaining unpaid indebted-
<br />ness secured try this mortgage, tx;, and they hereby are, assigned to Commercial and shall tr3 paid iarthwith to Commercial to tre applied on account of
<br />the tastma5tring ins' flmenfs of such indebtedness. -
<br />r7dted !tile /~~' day of~N- 'oh , t9 74 ./` '' ~ `~
<br />INEES€NCE OF: --
<br />~~ ~! urns N. Chr
<br />}
<br />Li--mod M. ChristEIIB ~-C-~
<br />- STAT€ OF NEBRASKA
<br />6
<br />COUNTY 4F Hl1LL __. ss. A~ ~q
<br />On this _S ~ day of H3rc23 tR 7 ; befora~rn~hdiy j}j~d for said County, personally came
<br />the above-homed Ctu~tis Pi. Christensen and Linda !!. Chris#enaca, ilxisband and Wite,
<br />fa me welt known to be the identical persnrt or persarrs whose name z or nerr~s ale affixed to qre atmve mortgage as grantor or grantors and they, he
<br />pr she, ssveraify ackridwiedge the said insttdmenf and the exeeutign thereof, to ~ their vofunarq act and deed.
<br />WITNESS my hand and Notarial Seat this day and year last above written. / f' t '
<br />~"~ ~~ ~ Notary Public
<br />My commission expires on the { f day of ~"~ ~v~_, i9- ~ M-50
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