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~~_ v~i171S EXPAI+TDABLE MOR'~GAGE
<br />ASSIGNMENT OF RENTS Loan No. _ 820265-6
<br />KNOW ALL MEN BY THESE PRESENTS: That Neal T. Brickaer, a single Berson
<br />(hereinafter called the Mcrtgagors) in consid r ti of the sum of
<br />T1rENTY-THREE THQUSAND FIVE HUNDRED AND NO/100---------------------tiollars(S1~,~00.00 }
<br />loaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br />Nebraska, (hereinafter called "Commercial"}, its successors and assigns, the following described real estate, situated in the County of,
<br />HALL State of Nebraska, to-wit:
<br />All of Lot Four (4) and Fractional Lot Fiae (5} in Fractional Block Four (k) in ii'allichsr
<br />Addition to the City of Grand Island, Hall County, Nebraska, excepting the Southerly
<br />Fifty-seven and one-half (57 1/2} Feet of said lots.
<br />TO NAVE AND TO HOLD THE SAME, with the appurtenances Iherecnto belonging, unto Commercial, its suceessors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfully seized of said premises, that
<br />they are free from encumbrances, and that they :vill forever warrant and defend the title to said premises against the lawful claims of all persons
<br />whomsoever.
<br />Provided, nevertheless, these presents are upon the following conditions:
<br />That whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing to 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 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 by Com-
<br />mercial to the undersigned Mortgagors or their successors in title for any purpose. at any time before the release and cancellation of this mortgage,
<br />but PROVIDED. HOWEVER, of no time shall the aggregate principal amount secured by this mortgage, being the amount due at any time on said
<br />original note and any additional advances made, exceed an amount equal to 110 percent of the amount of the original note, but in no event shall
<br />said note exceed the maximum amount permitted by law, and PROVIDED, HOWEVER, 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 the mortgage.
<br />Now, if the said Mortgagors shall pay or cause to be paid the said sums of money when due, as set forth in said note, and any other note for
<br />°wibu~w't u'.°'iE°cS ii "d"c llntii u~ ,S fUity p°iu n, u, ,mcrESt, mcu u,ESE prESEniS 5ia„ ~ void; 3u,errcise, to tz ar,d ren`~ain in fuN force and
<br />effect; but if default should be made:
<br />(a) in any of the payments due on said note, and any other note for additional advances made, as therein agreed to be made for three months, or
<br />(b} In keeping the improvements on said premises insured against loss by reason of fire, IighUing, and other hazards included in extended
<br />coverage insurance in an amount not less 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 ta+ror of Commercial; or
<br />(c) In the payment of taxes and assessments levied upon sa+d premises, or on this mortgage, before they are delinquent; pr
<br />(d) if there is arry• change in the ownership of thE real estate mortgaged herein, by sale, either outright or by !and contract, or by assignment of
<br />arty interest thereon or otherwise:
<br />thar, in any of the a~ve set-forth events. the whole indebtedness hereby secured shall, at the option of Commercial, immediately become due and
<br />payable without further notice, and the amount due under said note and any other note for additional advances made shall, from the date of the exercise
<br />of said optiat, bear interest at the maximum toga! rate per annum. and this mortgage may then be foreclosed to satisfy the amount due orr said note, and
<br />arty other note for additional advances, together with a!I sums paid by Commercial for insurance, taxes, assessments and abstract extension charges,
<br />with intEres# thereon from the date of payment at the maximum legal rate.
<br />PROVIDED that in no event, either before or after default. shall the interest due under said Hate and this mortgage and any other note for ad-
<br />ditional advances made exceed the maximum lawful interest rate.
<br />PROVIDED, further, that in the Event that default occurs in the making of the payments due on said Hate, and on any other note for additional
<br />advances, as therein agreed to be made. or is keeping the psanises insured, as above provided, or if default he made in the paymenl of the taxes
<br />pr assessments levied upon Ere premises above described pr upon this mortgage, before they are by law delinquent, Commescial shall be entitled
<br />to the immediate possession of the premises stave-described, together with alt rents. proceeds and issues arising out of the orEmises, and may
<br />in its discretion use the rEnts so far as it teems necessary for the ~rrpose of making repair, upon the premises and for the payment of insurance
<br />premiums, taxes Ord assessmeits upon such premises, and for necessary expenses incurred in senhng said premises and collecting rent therefrom, and
<br />to apply same pn said note and ary notes Evidencing future advances hereunder until the indebtedrtess secured is fully paid: and for sudr purposes,
<br />the undersigned does hereby seH, assign, set over and transfer unto Commercial a!I of said rents, proceeds and incxnes including any !and cartract
<br />payments due mortgage owners or any other inconses of any type whatsoever from said property to be applied on the notes above-described; but said
<br />Commercial shsll;n no are be liable for thE failure th procure tenon#s, to collect rents, or to prosecute actions to recover possession of said premises.
<br />The kbstgagors further appoint Commercial of Omaha, Nebraska, their attorney in fact, giving said attorney power irrevocably, either on its awn
<br />Dame ur kbrigagors' names to take aN necessary steps for proceedings in court or otherwise, to cause said premises tp be vacated, to collect rentals
<br />a otter incomes dpe, and when vapnt, to reset the same, to make nit reasonable repairs and pay taxes out of said rents, profits, conhact payments or
<br />incomes and !p ~ ail such things either b'1 its own officers or by other parties duly authorized and appointed by it, as its agent far said purpose, and
<br />to cisarge or pay a rEasorwbie fee for such services, elf of the above to be dpnE at such times and in such manner and on such terms as to their said
<br />attomey may seen best, wilts foil power pf substig;tian.
<br />The Mortgagors hereby agree that +f Commescial either voluntarily or rnvil!untarily becomes or is made a party to any suitor proceeding relating
<br />m ftre herrtiabefore 4escrif>ed seat estate, a to this mortgage or said note or notes, ether than a fareciosure mstiUrtEd thi Commercial, Mortgagors will
<br />reim0urse Cams+ercial far at! reasonablE costs incurred try Canrrrerciai in said suitor proceeding. ThE Mortgagors further agree that if the hereinbetore
<br />described real estate or arry part thereat be cortdemned under the Iawer of eminent domain, or is otherwise acquired for a public use, the damagEs
<br />ailrard!ed, the proceeds for the taking, arrd for the c=xrs+deration for wch acquisition to the extent of the foil amount of the remaining unpaid indehted-
<br />rress sz`wred try this mortgage. tse, ark they hwetry are, assured fn Commescial and stroll t>e paid forthwith to Commercial to be applied en account of
<br />the tact rnathring instaHmentr of such indebt;~ness.
<br />4aled this ~~ 4'ay pf !larch ~9 79
<br />HI THE PR ENCE O`: ~ I ,///C'~~=
<br />~~~~, l~rSdj T. Brickn - .-
<br />STi1TE Df BEBRA~[A
<br />COW#TY Of HdLI. ~'. ~te+r
<br />~ rs,is ~ v ~ ~-ow o. ~~o
<br />~ ~~~~`^ ~' of ~?" 19 7_9~ , before me, a notary ub~ rn an ~F'~'Nl Z3uulsfjgpersonally rime
<br />sisal T. Sriclmer, a single Pe~~
<br />th roe weft known to be the i~rtisaf person or persons whose name is w names are affixed to the above mortgage as grantor or granmrs and they, he
<br />or she, severally acknowledge the said instrument and tfre execution thereof, to bE them voluntary ac/t/,an~~dp~}deed. ~y/,,//
<br />WETNESS my ttartd and NWarial Seal dtis day acrd/year last above written. --1~ ~ y!~G~S"_'-~-
<br />~arG Notary Public
<br />My wrsrmission expires on the / 7 day of Gth , 19 ~9 to 50
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