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<br />79-~ ~.~~.t.~' j~ E~PANI?ABLE 1ii14~R'~'GAGE 4~41a-a
<br />ASSIGNMENT qF RENTS Loan No. - .___.____..____
<br />KNO4v ALL h1EN t3Y THESE PRESENTS: That Alice H. Shearer, a single person and Terry A. She,~~+~r
<br />a single person liieieinaucr Cow"d the AAnrfbagvrSt .n rnnpflerati0n Of the s~lm Of
<br />EEZG TEEN THOUS~D ANB Np/100---------------- ~oilars (5 18,000.00 )
<br />loane~ to Mortgagors, do herebyy grant; bargasn, sell and convey unto ~bMI~~RCTI~ F`Eb~AAI ~AVff~G~7CRtT LOAN ASSOCIATION of Omaha,
<br />Nebraska, thereinafter called "Cornmerctal"). its successors and assigns, the following described real estate, situated in the County of,
<br />Hall State of Nebraska, io-wit:
<br />The South Sixty-six (bb) feet of th<_ !?es*_ brie Hundred Forty-eight and Five Tenths (148.5}
<br />feet of Lot Eleven (ll} is Van.tine's Subdivision located an part of the Northwest
<br />Quarter (NW 1,~4) of Section Twenty-two (22} and Township Eleven (ll) North, Range
<br />Nine (9) West of the Sixth (6th) P.M., Hall County, Nebraska;
<br />TO HAVE ANO TO HOED 1`HE "SAME, w+ar are appurt~ antes thereunto heldngidg, unto Commercial. its successors and assigns, forever.
<br />Said P6drigzgors hereby covenant with said Commercial, its successors and assigns; that h9ortgagors 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 ciarms of all persons
<br />wF:emsneve[.
<br />Provided, nevertheless, these presents are upon the following conditions:
<br />r- Tnat whereas the said Mortgagors as members df Commercial have iMs date executed a note evidencing such loan and agreeing td repay said
<br />sum of money, with interest, in payments as set forth in said note and have agreed to abide by the terms of said note and Charter and ey-Laws of
<br />Commercial.
<br />That whereas this mortgage shalt secure any addrtinna{ advances, vnth interest, which may, at the option of Commercial. be made by Com-
<br />mercial to the undersigned Mortgagors or their successors in title for any purpose: aF any time before the release and cancellation of this mortgage,
<br />but PROViOED, HOWEVER, at no time shall the aggregate principal amount secured by tlris mortgage. being the amount due at any time on said
<br />original note and any additional advances made, exceed an amount equal in 1?0 perr_eM of the amount of the drigina; ante, but in no event shall
<br />said note exceed the maximum amount permitted by law. and PROV{DEC. HOf:EVER, that nothing herein cnntarned shall be considered as limiting
<br />Lhe amount that shall 6o secured hereby when advanced tc protect the security or in accdrdance ~esfh covenants contained in the mortgage.
<br />Now, if the said h7artgagdrs shall pay er cause to :~ paid Cho said sums cf ^uney when due, as se! fcrdr in said note, and any other note for
<br />addrtiri+at advaoces made unfit card debt is fully paid with ±n±arest, then thew ereswnt_< sham `_ vo!d: dtherr+ise, to be and remain in lull force and
<br />effect. but of default should be made:
<br />jai in any et the payments due nn Bard note, and any diner note for addit+nnai ad~.ances T.ade, as ,herein agreed to be made for three months, or
<br />fb+ In keep!ng the improvements on card premises insured agaiost :ass by reason of f!re i+ghth+ng and diner hazards included in extended
<br />v agt ;nsurance m z amount not less ihzn trio rpa+c '~ a ce f Said c,tgaee ~nan m a ca^pary';• c;moames acceptable to Com-
<br />merCai. ~e original of such pcircr ar pelcres t~ be herd y ,.~.,.~?.c a a+d ,v~tn a rid-tgage i~ause attached to said pnhcy or policies,
<br />in favor of CommerciaC of
<br />t <;,>: t "o:ied upon s-ac rremses. r + t".'s ~~n,ttag=. before dtey are del!.~quank dr
<br />'c; In the pay r+en of taxes and asses. n s . - -
<br />tG] If there is any change m the nwrershrp er me root estate ?;^rtgaged harem- ~~ sate. girth?: cutnghtcr by rand contract, or by assignment df
<br />any interest thereon cr otherwise:
<br />h:en, rn any ni the above set `pith events, L,e + ~d'e ,iiCE~teyness n • ~ scour ,, s e!. a ++ _a of Com!rercia! mmediately txcnme due and
<br />sayable without further notice, and'he z nu .t c rand a z r F a~.; r r-, ~ ` dd ~ a antes mad sFa+r '.~ th+~+ate of ih2 exercise
<br />' >, _, 5 t, ~~ d ~h - -ga ~v aj ttn: 'v f P -~SPd - < t: ) t" a ..~,+, d.l.. un Said ndte ?nA
<br />Ut Said dptidn %•ea inicicSt a+ t.@ - .1-. - .
<br />any other note for addHionai advance ~ tcgethe, w.±h a:i r,r^<_ ,.w b., w'~. ~~ ~!a. +, :rs., once kaxes. ass.,3~menis and atuiract extension charges,
<br />with interest thereon from the date of payment at the maxrmu,,, tc-gai rate.
<br />PROVIDED that in no event, either n_etnre .:r after defa,~'t shalt me rnierest c,;o undo: sa+d Hate and this mortgage and any ether is=le for ad-
<br />ditional advances made exceed the max!mcm lavrfn ~eferest rate.
<br />PP,OV4DED, further, mat in the event tab, cr _ ..:.. _ ___ , ?` tl.e nayments due on said note. and on acy other note for additional
<br />advances, as thereir, zgseed td be rode, ar tie. p- rg~'~e r ,tees n ,:rod. as above provided, or if default be made in the payment df the faxes
<br />dr assessments levied upn,i the premises ahoy? descrrdud ^, uadn ";'s mortgage, t>°:nre they are b~y law delinquent, Cnmmercia! shall tie entitled
<br />to the immediate possession of me premises above descnL~ed, loge*.her with a!i rents. proceeds and issues arising cut of the aro<, reds, and mar
<br />in its discretion use the rents so far as it deems nec?s~ sy ter d;e e!rpdsa of making repairs uedn the premises and ter Coe payment of insurance
<br />uremiums. taxes and assessments unnn such c:emues and for necessary expenses incurred in renting said premises and cdi!ecUng rani therefrom. and
<br />to apply same on Bard note and any notes evid:rdiag !:`,ore advances hereunder until the indebtedness secured is fully paid; and far suds purposes,
<br />the undersigned does hereby set!, assign, set over and Transfer cola Commeraa! alt of said rents. proceeds and incomes including any land contract
<br />payments due mortgage o~.vners cr any other incomes sf env h~pe whatsoever from sorb property to 6e applied on the notes above-described: but card
<br />Commerce! shall in no case 6e irabio ldr the lai!ure td procure tenants.. to cc!ect rants. er td prosecute actions io recover pdssessinn of said premises.
<br />The Mortgagors further appoint Comrrrerciat at Omaha. Nebraska. their attorney in tact. giving said attorney rower rrrevrocahly, either on its own
<br />name or Mortgagors' names td take ail rec~ssarP stet for preceedsngs s; dduit cr o5herwise. id cause said premises to he vacated. to cdllact rentals
<br />or other incomes due. and when vacant. td relet kne same.:o make aI+ reasonable repairs and pay taxes Hui of said rents, prof ts, contract payments er
<br />incdmes and in do all such things either by its a+:• officers cr by da,er parties duly authdnzeC and appointed by rt. as its agent for said purpdse, and
<br />to charge ar pay z reasenab!e fee far such services. ai? df tine abdde tc he done at sorb times and rn such manner and on such terms as to their said
<br />attorney may seam best. with full power as suC~shratiion.
<br />The hfortgagors hereby agree L7at .f Commercial eitlrer vciuntariiy or irivomntatiiy becomes or is made a party tc any suit or proceeding relating
<br />to the hereinbefine described real estate, cr to tots mortgage or said ndL e. notes, other than a fdreciosure instituted by Commercial, Mortgagors will
<br />reimburse Commercial for a!i reasanabie costs incurred by Commercial in Bard suitor proceeding. Tne f.Sorigagers further agree that if the herein6efore
<br />described real estate or any part thereat >x condemned under the „ower df eminent domain, or is nthorwise acquired for a public use, the dam-ages
<br />awarded, the proceeds for the taking; and for the cons,deraE.n ~ for such acquisition id the extent of the full amount of the remaining unpaid iudabted-
<br />aess secured by this mortgage, be, and hey hereby are, assigned to Commercia! and shall be paid forthwitlr td Commercrai to 6e applied do account of
<br />the fast maturi g in~aHments of such indebtedness.
<br />Datedfhis~tlayof March _.19?_~_..
<br />IN TH FRE NC OF; -~~->~ ~'' ~r-~-~- ~~-"°~
<br />> j Alice H. Shearer
<br />r 1.~ ~_
<br />STA I E OF NESRAStfA
<br />COONTY 4F HALL
<br />~ ~,
<br />On Ehis -__-_.--__-
<br />the a~sie-named Alice H,
<br />Terry A. Shearer
<br />__!
<br />6ENEAAt NOYARY , ate of Mebr. ~ Y/t/ ~ ~!~'F `~-~-"-.rs-..•"
<br />Ss. ,~~IdrC ARNflLt} D. 1NEDEtfRG iiii//// J
<br />MY Comm. EYD. Oa,~t
<br />day of h _ t9 , befete roe; a notary public in and fpr said County, personally came
<br />Shearer, a single gersan and Terry A. Shearer, a single person
<br />to me we'.I known to be the identical person nr persons •whose nzme is or names are affixed to the above mortgage as grantor or grantors and they, he
<br />or she, severalty acknowledge the said instrument and the exucution thereof, to 6a their voluntary act and deed.
<br />WITNESS my hand and Notarial Seal this day and year last above written. ~ f~~ ~ /. j ~~ ;
<br />Notary P-~tific ._.:~G
<br />My commission expires un the _. /~ --__day nt~~__^~~ _. i5 ~ 1550
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