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<br />7g.~ ~~~~ E~~"ANDABLE ;~(3RTGAGE LoanNc. 47u17-6 ~,
<br />ASSIGNMEhJT OF RENTS
<br />KNOW ALL MFN AY THFCF PRF~cNm: r a. DaYid kr, °;~iwec ai,u £F•uir~e3 v. RouZC2, HllSband. and blife,
<br />(hereinafter called the Mortgagors) in consideration of the sum of
<br />TWENTY-NINE THOUSAND SEVEN HUNDRED Fi£TY ANA NO/100---------------Bollars(529,750.00 )
<br />loaned fo Mortgagors, do herebyy grant, bargain, self and convey unto COMMERCIAL r=EUERAL SAVINGS ANU ? OAN ASSOCIATION of Omaha,
<br />Nebraska, (hereinafter called "Commercial"), its successors and assigns, the following described real estate. situated in the County of,
<br />till State of Nebraska. to-wtt:
<br />Lots Six (6) and Eight (8) in Block £ine (5) in College Addition to West Lawn, an
<br />Addition to the City of Grand Island, Hall County, Nebraska;
<br />TO HAVE ANU 70 HOLD THE SAME, with the appurtenances !hereuata be;ang~ng u Ito Commercial. its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Commercial, its successors and assigns, That 'artgagars are rawfuily seized of said premises, that
<br />they are free from encumbrances. and that they will forever warrant and defend the hHe to sold prmises against the lawful claims of atf persons
<br />whomsoever.
<br />Provided, neverdre!ess, these presents are upon the following conditions.
<br />That whereas the said Mortgagors as members of Commercial have this date executed stoic' evidoncng such roan and agreeing to repay said
<br />sum ofi money, w.i!)t interest, ir. payments as set forth in said note and haae agreed to abide try the terms at said note and Charter and B'!-Laws of
<br />Commercial.
<br />That whereas this mortgage shall secure any addticnai advances, with interest. which may. of the option of Commercial, ire made by Com-
<br />mercial to the undersigned Mortgagors or their successors in title fdr any purpose. at any time before the release and cancella6cn of Uris mortgage,
<br />but PROVIUEO, HOP+EVER, at ne time shall the aggregate principal amount secured by this mortgage, being the amount due at anp time do said
<br />original note and any additional advzndes made, exceed an amount equal to 110 oerrent df the amount of the original note, but in no event shalt
<br />said note exceed the maximum amount permitted 6y law, and PP,OVIDED, HOWEVEf;, that nothing herein contained shall be considered as limiting
<br />the amount that shall be secured hereby when advanced to protect the security or in accordance with covenants contained in me mortgage.
<br />Now. if the said Mortgagors shat! pay ar cause to fro paid the said sums of money when due, as set forth in said note, and any other note fos
<br />additional advances made until said debt is fully paid with interest, then these presents shall be void; uthenuise, td be and remain in full force and
<br />effect; but if default should be made:
<br />(aj to any of the payments due on said note, and any other note for additional acvancee made, as !herein agreed ba made fdr three months, or
<br />(b} In keeping the improvements on said memises insured against !ass by reason ^f f~ _ ;;ghtmr a,. ,-; hazards included in extended
<br />coverage insurance in an amount not less than the unpaid balance of said mortgage loan. m a company occompanies accepkabte 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 favor of Commercial: pr
<br />(c) in the payment of taxes and assessments levied upon said premises, or an this mortgage, before they are delinquent; or
<br />(tl) If there is any change in the ownership pf the real estate mortgaged herein, try sale, either outright cr by land contract. cr by assignment of
<br />any interest thereon or offierwise;
<br />then, in any pf the above set-forth events, the whp!e indebtadness hereby secured shaii, at the option of Commercial, immediately become due and
<br />payable without farther notice, and the amount due under said note and any oilier note for additional advances made shaft, from ttre dale of the exircise
<br />df said dption, hear interest at the maximum legal rate per annum, and this mortgage may Then ~ foreclosed to satisfy the amount due cn said note, and
<br />any other noie for additipnai advances, together with ail sums paid by Commercial for insurance, (axes, assessments and abstract extension charges,
<br />with interest thereon from the date of payment at the maximum legal rate-
<br />PROViucU that in no event, either before or after default, shall the interest due under said note and this mortgage and any other note tau ad-
<br />ditional advances made exceed the maximum lawful interest rate.
<br />t'RUVtUEU, further, that in the event that default pdcurs in the making ct the payments due on said note, and en any other note for additional
<br />advances, as therein agreed to be made, er in keeping the premises insured, as above provided, or if default tin made in ttre payment of the faxes
<br />pr assessments levied upon the premises above desdritred ar open this mortgage, "fare they are by law delinquenE, Ccmmetciat shaft bo entitled
<br />to the immediate possession of the premises above-described, together with all rents, proceeds and issues arising out of the premisos, and may
<br />in. ifs discretion use the rents so far as it deems necessary for the purpose cf making repairs upon the premises and for Uhe payment pf insuranpe
<br />premiums, taxes and assessments upon such premises, and far necessary expenses incurred in rating said premises and collecting rent tltetefrom, and
<br />to apply same on said note and any notes evidencing future advances hereunder until die indebtedness secure6 rs fully paid; and for such purposes,
<br />the undersigned does hereby sell, assign, set over and transfer unto Commernal all of said rents, proceeds and incomes including any Land contract
<br />payments due mortgage owners or any other incomes of any type whatsoever tram said property to be applied on the notes above-described; tart said
<br />Commercial shall in no case tie liable for the failure to procure tonants. m reilacr rants, pr to prosecute actions tp racovet possesston pf said premises.
<br />The Mortgagors further appoint Commercial of Omaha. Nebraska, their artdrney in fact, giving said attorney power irrevocably, eidrer on its own
<br />name or Mortgagors' names to take alt necessary steps for proceedings in court or otherwise. !o cause said premises to t>e vacated, tp collect rentals
<br />or other incomes due, and when vacant, tc relet the <ame. to make all reasonable repairs and pay faxes out of said rents, profits, contract payments or
<br />incomes and to do alt such things either by its own o!ficers or by ether parties duly ae!honzed and appointed by it, as its agent ter said purpose, and
<br />tp charge ar pay a reasanaDle fee ter sus;, services. 2!! cf the above td tx: woe at ~,ch times and in such manner and on such terms as td their said
<br />attorney may seam best, with full power e(substihrhan_
<br />The Mortgagors hereby agree that if Commercial e,tl`er vo!~+Yarry or „avotuntar,ty ~cpmes or rs made z par4y to any suitor proceeding relating
<br />to the hereinhefare described ref estate. er to this vprtgage pr said note or notes, other than a fdreclasure instituted 6y Commercial, Mortgagors will
<br />reimtxrrse Commercial for alt reasonable costs incurred try Ccmmeru_i ,a said suit er psoceed!ng. The R!ortgagprs further ogre that if the hereinbefore
<br />descdtr2d rat estate or any part thereof be condemned ;:nor the power of ~rninz-p± r~-ain. d; is of^,erwise acquired far a putr!ic use, tfie damages
<br />ewarded, the proceeds for the taking. and for the cans~deratici t^r soon acr;;ais:i!pri; tc it ,extent pf the foil ameurt of the remaining unpaid indebted-
<br />ness secured bJ this mortgage, be, and `whey Freres; are, ass-gmed tc Cc^merc.a! ar~t'sh he pond fprthwith fp Ccmmeraiai tc tie applied pn account of
<br />the last mahrnng r ta!ltnents of sash indebtedness.
<br />Uated this ~~ day of Harch~~ 1g ~"~ - , i 19d: ,. It
<br />tN THE PRE 'E ° :~ ~fi`' ~--
<br />£ranaea 0. Rouzse
<br />STftTE OE' NEBRASKA v
<br />COUNTY OF HALL _i~ ss.
<br />- On tfiis ._ ~ day of ______ Maa*ch , I979 „before tae, a notary pabiic in and far said County, personalty came
<br />the abpva-named
<br />Aawid W. Rouaee and tYances 6. Rouzee, Husband and Wife,
<br />to me wet{ known to be the identical person ar persons whose name is or-oar kd~E above mortgags as granter or grantors and they, he
<br />or she; severally acknowledge-the said instrument aad the exec -or~lltlFdBE ry act and deed.
<br />ARN ~,prx, t7. 1816 1
<br />WITNESS my hand and Notarial Seat this day and year last a r~~r•
<br />Notary Pvbhc
<br />PAy commission expires on rho ~ ~ _day of.,, -`_ -. 19 ~` M 5t:
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