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ASSIF,titAEFiT dF i3ENT~ L-a.~ r;r_ _.__ ___~. ~_..__-- IH~NOig At,ll fatEN Bl' itir.SlE PRESENT!'i: Tbat RanLar, 'Inc. rrrnxainafter ~1?e ~"EP I~lorgaptrrsr n cans~i~deration rjf the Burn ref One Hundred Txelve 2'hortusand Five Hundred'. and NoJlt'i4__ M--- -----~oiarcstr112,St7ls.Ot1 1 ~fa5aned dui trtgrtgagors, do hec~rv grant. bargain. sell and conar~~ usrta COM#ERC#AL FEtiE;tAt<'.iA'y'1~6:> AtvD 1 SAN Aw:SO41AT10N cat Omaha, Nebraska, {hereinafter ratted "' ommercal`"), its successors and assrgns, tyre foI'•ovng descrrbed roof estate. situated in the County of, State of Nebraska, to-wit: Lot Four (4) in Bidden Lakes 5ubdiv.isian number Txo, being a part of the Southeast Quarter of the Northeast Quarter 4SE 1J4 NE 1/u) and a part of the North Kali of the Northeast Quarter of the Southeast Quarter { N 1J2 NE lJ4 SE lJ4) of Section 13, Township 11 North, Range 9 Kest of the 6th P.N., Hall County, Nebraska; TO NAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging mto Commercial. its successors and assigns, forever. Said Mortgagors hereby covenant with said Commercal. its successors and assigns. that Mortgagors are !awfully seized of said premises, that they are free from encumbrances, and that they wit! forever warrant and defend the title to said premises against rte lawful claims o` al! persa~s whomsoever. Provided, nevertheless, these presents are upon the following conditions: Thal 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 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 Gommercial. That whereas this mortgage shall secure any additional advances, with interest, wh+ch may, at the option of Commercial, 6e made by Com- mercial to the undersigned Mortgagors or their successors in title for any purpose. at art 'ime before the release and cancellation of this mortgage, but PROVIDED, HOWEVER, at no time shall the aggregate principal amount secured by this mortgage, being the amount due at any time on said original note and any additional advances made, exceed an amount equal to 11Q percent of the amount of the original note, but in no event shat! said note exceed the maximum 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 in the mortgage. Now, if the said Mortgagors shall pay or cause to t>e paid the said sums of money when due, as set forth in said note, and any other note for additional advances made until said debt is fully paid with interest, then these presents shall be void; otherwise, to be and remain in full force and effect; but if default should be made: {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 (b) In keeping the improvements on said premises insured against loss by reason of fire, lightning, and other hazards included in extended coverage insurance in an amount not Tess than the unpaid balance of said mortgage loan, in a company or campames acceptable to Ca~- 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 fc) In the payment of taxes and assessments levied upon said premises, or on this mortgage, before they are delinquent; or (d) If there is any change in the ownership of the real estate mortgaged herein, by sale, either outright or try land contract, or by assignment of any interest thereon or otherwise; then, in any of the above set-forth events. the whole indebteMess hereby secured shall, at the option of Commercial, immediately become due and 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 of said option, hear interest at the maximum legal rate per annum, and this mortgage may then be foreclosed to satisfy the amount due on said note, and any other note far 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 ai the maximum legal rate. PROVIDED that in no event, either before or after default, shall 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 on said note, and on any other note for additional advances, as therein agreed io be made, or in keeping the premises insured, as above provided. or ii default be made in the payment of the taxes or assessments levied upon the premises above described or upon this mortgage, before they are try law delinquent, Commercial shall be entitled to the immediate possession of the premises above-described, together with 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 of making repairs upon the premises and for the payment of insurance premiums, taxes and assessments upon such premises, and for necessary expenses incurred in renting said premises and collecting rent therefrom, and to apply same on said note and any notes evidencing future advances hereunder until the indebtodness secured rs fully paid; and for such purposes, the undersigned does hereby sell, assign, set over and transfer unto Commercial all of said ants, proceeds and incomes including any land contract payments due mortgage owners or any other incomes of any type whatsoever from said property to he applied an the notes above-described; tart said Commercialshaltin no case be liable for the failure to procure tenants, to collect rents, or to prosecute actions to reeaver possession n# said promises. The Mortgagors further appoint Commercial of Omaha, Nebraska. their attorney in fact, giving said attorney power irrevocably, either on its own name or Mortgagors' names to take alt necessary steps for proceedings in court or otherwise, to cause said premises to 6e vacated, to coNect rentals or other incomes due, and when vacant, to relet the same, to make all reasonable repairs and pay taxes out of said rents, profits, contract payments or incomes and to tlo all 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. all of the above to be done at such times and in such manner and on such terms as to their said attomey may seem best, with full power of substitution. -. ~,..~ The Mortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a party to any sur(,er~'pi~ceed~g%re~ting to the horeinbefore described real estate, or to this mortgage or said note or notes, other than a foreclosure instituted by Cdr!t~r+~da , Ajp~~ts-Yet)!. reimburse Commercial for all reasonable costs incurred by Commercial in said suitor proceeding. The Mortgagors further a~Pee tltpf (( tEreth~,`ei~#gf~i described real estate or any part thereof be condemned under the power of eminent domain, or is otherwise acquired fr3r~lic e` ~ awarded, the proceeds for the raking, and for the consideration far such acquisition to the extent of the full amount of tpe mi~g-uppaia~rde4te~~-. Hess secured by this mortgage, be, and they hereby are, assigned to Commercial and shall be paid forthwith to Commercial fd De a@~tie~ gn~cou~t'6j r the last maturing/ins~alJprents of such indebtedness. _" - r` •`".; i •;.' p Dated this J ~~''--++.C~-~ day of-~#Frli , 192`x. {and the corporate seal ~~it~~a~d ~+"? :`,~ ~' RanLar, Inc., a corporation) `•'{'~~ "" -,~. I ESENCE OF:~ RanLar Inc. -s STATE OF NEBRASKA ss. BY • ~~~~~~~~~" C-y=--~" ~f/~--~:c-~- GOUNTY OF KAI+L~ y' adel K. Bowen, Vice silent On this ~~ day of April tg 79 , before roe, a notary public in and for said County, personally came the above-named ~~ ~. Bowen, President, and Bendel K, Hoesen, Vice-President of said RaaLar, Inc. tQ me yell known to be the identical person or persons whose name is or names are affixed to the above mortgage as grantor or grantors and they, he or she, severally acknowledge the said instrument and the execution thereof, to be their voluntary act and deed. as such officers and the voluntary act aad deed of said cor„~r.~n in their official capacity done Y1tTNESS try hand and Notarial dal this day aad year lit w w~ ~_ ~~ /~ , a:•d/,exsc-utad. - ~ Comm. Fxp. ~' 17, itNlf ~il~ c-z~~~ ~'c t ~c:G3~- Netarv Public taf`y eommission expires on the (~ ~ day of '~" ~"~ . 19~~,~ td-50