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ASSIGNMENT OF t2ENTS loan No, - 820264=8 KNOYN ALL MEN BY THESE PRESENTS: That Robert D. Collicott and Diane K< Collicott, husband and wife (hereinafter called the Mortgagors) in consideration of the sum of Thirty-Seven Thousand Fight Hundred and No/100-------------------0ollars(537 800.00 ) loaned to Mortgagors, do herebyy grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOG~IATION of Omaha, NebrHasAL~(hereinafter called "Commercial"), its successors and assrgns, the following described real estate, situated in the County of, State of Nebraska, to-wit: Lot Thirty-eight (38), x~otash Subdivision is Hall County, Nebraska; TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging. unto Commercial. its successors and assigns, forever. Said h~ortgagors hereby covenant with said Commercial. +ts successors and assigns, that tdortgagors are lawfully seized of said premises, fhat they are free from encumbrances, and that they will foreve• warrant and defend the title to said premises against the lawful claims of ail persons whomsoever. Provided, nevertheless, these presents are upon the failcwmg : onditinns: Tnat whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing to repay said sum of money, with mierest, in payments a<_ se( forth in said note and have agreed to abide by the terms of said note and Charter and By-Laws of Commercial. That whereas this mortgage shall secure any additional advances. with interest, which may, at the option of Commercial, be made by Com- mercial to the undersigned Mortgagors or bhei: successors in tale for any purpose. at any time before the release and cancellation of this mortgage, but PROVIDED. HOWEVER. at no time shat! the aggregate pnnc+pal amount secured by this mortgage. being the amount due at any time on said ongina! note and any additional advances made, exceed an amount equal to 21G percent of the amount of the original note, but in no event shall said note exceed the maxrmum amount permitted by law, and PROVIDED. HOWEVER, that nothing herein contained shall be considered as limiting the amount that shall be secured hereby when advanced to protect the security or in accordance with covenants contained m the mortgage. Now, if the said Mortgagors shall pay or cause to be paid the said sums of money when due, as set forth m said note, and any other note for additional advances made until said debt is fully paid with interest, then these presents shall be vo!d: otherwise. to l~ and retrain in full farce and effect; but if default should be made: ia? In any of the payments due on said note, and any other Hate for additional advances made, as therein agreed to be made for three months, er (b) In keeping the improvements do said premises insured against loss by reason of fire, lightning, and other hazards included in extended coverage insurance in an amount not less bran the unpaid balance of said mortgage loan, in a company or companies acceptable to Com- mercial, the original of such policy or policies to be held by Commercial, and with a mortgage clause attached to said policy or policies, in favor of Commercial: or (c) In the payment of taxes and assessments levied upon said premises, or on this mortgage, before they are delinquent; or (d) If there a any change in the ownership of the real estate mortgag?d herein, by sale, either outright or by land contract, or by assignment of any interest thereon or otherwise; then, in any of the above set-forth events, the whole indebtedness hereby secured shalt, at the optioc of Commercial, immediately become aue and payable without further notice, and the amount due under said note and any other note for addifiona4 advances made shall, from the date of the exercise of said option. bear interest at the maximum legal rate per annum, and this mortgage may then ~ foreclosed to saLsfy the amount due cn said note, and any other note for additional advances, together with all sums paid by Commercial for insurance. taxes, assessments and abstract extension charges, with interest thereon from the date of payment at the maximum legal rate. PROVIDED that in no event, either before or after default, shalt the interest due under said note and this mortgage and any other note for ad- ditional advances made exceed the maximum lawful interest rate. PROVIDED, further, that in the event that default occurs in the making of the payments due or. said note, and on any other Hate for additional advances, as therein agreed to be made, or in keeping the premises insured, as above provided. or if default be made in the paymenf of the taxes or assessments levied upon the premises above described or upon this mortgage, before they are by law delinquent, Commercial shall be entitled to the immediate possession of the premises above-descriEx:d, together wi±h all rents. proceeds and issues arising out of the premises, and may in its discretion use the rents so far as it deems necessary for the purpose cf making repairs upon the promises and for the payment of insurance premiums, taxes and assessments upon such premises, and for necessary expenses «,curreri in renting said premises and collecting rent therefrom, and to apply same on said note and any noes evidencing future advances hereunder until the indebtedness secured is fully paid: and for such purposes, the undersigned does hereby sell, assign, set over anal transfer unto Commercial all of said rents, proceeds and incomes including any land contract payments due mortgage owners or any other incomes of any type whatsoever from said property to be applied on the notes atfove-described; but said Commercial shall in no case be liable for the failure to procure tenants. to collect rents, or to prosecute actions to recover possession of said premises. The Mortgagors further appoint Commercial of Omaha Nebraska, them attorney in fact, giviag said attorney power i«evocably, either on its own name or Mortgagors' names to take all necessary steps for proceedings in court or otherwise, to cause said premises to be vacated, to collect rentals ar other incomes due, and when vacant, to relet the same, to make all reasunabie repairs and pay taxes out of said rents, profits. contract payments or incomes and to do al! such things either by its own officers or by other parties duly authorized and appointed by it: as its agent for said purpose, and to charge or pay a reasonable fee for such services, a!I of the above to be done at such times and in such manner and on such terms as to their said attorney may seem best, with full power of substitution. The Mortgagors hereby agree that if Commercial either valuntari'.y or mvolur,tanly becomes or is made a party to any smt or proceeding relating to the hereinbefore described real estate. or to this mortgage or said note or notes, other than a foreclosure instituted try Commercial, tAartgagors will reimburse Commercial for all reasonable casts incurred by Commercial in said suitor proceeding. The Portgagors further agree that+f tf:e hereinbefore described real estate or any part thereof be condemned under the power cf eminent amain, or ~s otherwise acquired for a public use. the damages awarded, the proceeds for the taking, and for the consideration for such acquisition to the extent of the full amount of the remaining unpaid indebted- ness severed by this mortgage. be, and they hereby are. assigned fo Commercial and shall be paid forthwith td Commercial to be applied on account of the last maturing rnstallme is of such indebtedness. Dated thisday of tiarch T, 1979 IN THE PRESENCE OFD: ~ STATE OF NEBRASKA COUNTY OF ALL ss On this '~ ~ ~ day of l9areh __ the above-named Robert D. Collicott Diane K. Collicott t4 ?~ , hefora me, a notary public in and for said County. personally came Robert D. Collicott and Diane K. Collicott, Husband and Nife, to me weft known to be thPjdentical person or persons whose name is or names are afhxed to the above mortgags as grantor or grantors and they, he or she, severally acknowledge the said instrument and the execution thereof, to ire their voluntary act and deed. WITNESS my hand and Notarial Seal this day and year last above written. sENEtW.ti0TAk7 ~'°,f,,q~~• ARNOtD g. WED 5ny7~ L_-~/y~ ~~m~~~~~;Qg Notary Public tdy commission expires on the _ `7 ~ day ef. _ , 19 ~~ Fd 50