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''~~~"' l: 1.}~tii26 EXPAND-APLE MORTGAGE 47424-9 ASSitiNMENT OF RENTS Loan, No. , KNOW AFL MEN' BY THESE PRESENTS: That Bruce C. Foster and Sandra L. Foster, Husband and Wife, {hereinafter tolled the Mortgagors} in consideration of the sum of Twenty-seven Thousand Two Hundred and No/100-----=------------- -Dollars{527,200.00 } loaned to' Mortgagors, do herebbyy' grant, barggain, self and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha, Nebraska, {hereinafter caAed "CommerciaP'), its successors and assigns, the following described real estate, situated in the County of, HALL State of Nebraska, to-wit: Lot Three (3), Blook Twenty-four (24), Russel Wheeler's Addition to the City of brand Island, Hall County, Nebraska; TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging. unto Commercial, its successorc and assigns, forever. Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfully seized of said premises, that they are free from encumbrances, and that they will forever warrant and tlef~d the title to said premises against the lawful claims of aI! persons whomsoever. Provided; nevertheless, these presents zre upon the following conditions: t That 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 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 @se undersigned Mortgagors or their successors in title far any purpose, at any time 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 I10 percent of the amount of the original note, but in no event shall said note exceed the maximum amount permitted b/ taw, and PROVIDED, HOWEVER, that nothing herein contained shalt 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 be paid the said sums of money when due, asset 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 far additional advances made, as therein agreed to be rnade for three months, or {b) to keeping the improvements on said premises insured against lass 6y reason of fire, lightning, and other hazards included in extended coverage insurance in an amount not less than 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 is any change in the ownership of the real estate mortgaged herein, by sale, either outright or by land contract, or 6y assignment of any interest thereon or otherwise; then, in any of the above set-forth events, the whdle indebtedness hereby secured shall, at the option of Commercial, immediately beeome due and payable without further notice, and the amount due under said note and any other note for adtli tional 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 he foreclosed to satisfy the amount due on 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 ew_nt, 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 ether note for adtlibonai advances, as therein agreed to ~ made, ar in keeping the premises insured, as above provided, or if default be made in the payment of the thxes or assessments levied upon the premises above described or upon this mortgage, before they are by law delinquent, Commercial shall be antitled to the immediate possession of the premises atpve-described, together with all rents, proceeds and issues arising out of the premises, and may in its discretion use the rents se far as it deems necessary for the prrpose of making repairs upon the premises and for the payment of inwrance premiums, taxes and assessmenth upon suds premises, and far necessary expenses incurred in renting said premises and collecting rent therefrom, and to apply same on said note and any Hates evidarcing future advances hereunder until the indebtedness secured is fully paid; and for such purposes, the undersigned does hereby Seli, assign, set aver and 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 tram said property to ~ applied on the pates above-described; tart said Commercial shall in no case tre 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, their attorney in fact, giving said attorney power irrevocably, wither on its awn name or Mortgagors" names to take al! necessary steps for proceedings in court or otherwise, to cause said premises to be vacated, to collect rentals or other incomes due, and when vacant, to color the same, to make all reasonable repairs and pay fazes out of said rents, profits, contract payments or incomes and to do alt such things either by its own officers or 6y other parties duly authorized and appointed by it, as its agent for said purpose, an0 to charge or pay a reasonable fee far such services, all 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 voluntarily or involuntarily becomes or is made a party to any suitor proceeding relating to the hereinbefore described real estate, or to this mortgage or said note or notes, other than a foreclosure instituted by Commercial, Mortgagors will reimburse Commercial. for all reasonable costs incurred 6y Commercial in said suitor proceeding. The Mortgagors further agree that if the hereinbefore described real estate or any part thereof be condemned under the power of eminent domain, or is 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 secured by this mortgage, be, and they hereby are, assigrsed to Commercial and shall be paid forthwith to Commercial to be applied on account of the last maturing instal_ ImEpts of such indebtedness. Dated this~day of April 1979 /j~ IN THE ESENCE OF; /c-~"~""~'~-~ ~~~~~~~~`''' Bruce C. Faster ~~Z~ ~,~~' ~~£ Sandra L. Foster STATE OF NEBRAJ7(A CODNTY OF HALL ss. On this day of April 1979- ,before me, a notary public in and for said County, personally came the above-named Bruce C. Foster and Sandra L. Foster, Husband and Wife, ;o me vreH known to he the identical person or persons whose name is ar names are affixed to the atmve mortgage as grantor or grantors and they, he or she, severally acY.nowledge the-said instrument and the execution thereof, to be their voluntary act acid deed. WITNESS mq hand and Notarial Seal-this-dap and year last abo ~ritt~a v~v~xc~ ! , ~ ram. ~`~ 97, f Notary Public My commission expires an the_.~~ ~ day ai , 19~ M-50