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<br />,~i,lS~~I»ut+NY~~I~II" ICYt~ IRI~'MIT~ !,raierV FVi , ..._... ,,_._.. _.._~.-...~.....
<br />ft'NiQ'W ALL MIIEIh By THESE PttESEN!!G: +'Ihrtt. Pe,le~ F'raEu~eezz, and Jua~,ith 'K. t"x+ob«een, Blmyshi;tnwr3 and.. itaf'~
<br />f t'a:~naR=.r coiled tF~ Mortgagors} ;: co^,srdera'.cn s~f .he s'sm ai
<br />Fifty-tiro R'tsousand Eight f:uadred and NoJi40-----------------------Doitars (S 52,SG0.00 f
<br />toatretf to Mortgagors, da tcer~yt 4ram, bargain, sesi and convey unto C,'lt:it~fR+".t: f_ TEOER.Ai SAvf:kvS AND iOAsi AvSiC`tATfr3N of IIr+rafra;
<br />Nebraska. {faereinatter plf~ "Comrr~rciai"), its s3r~eessvrs and assigns. the fa~ewing described neat estate. sduated in tfre County af,
<br />}x.11 State of Nebraska, to-wit:
<br />Lot Txenty (20) in Block Three (3) in Lake Davis Acres Subdivisioa, Hall County, Nebraska
<br />comprising a part of the North Half of the Northeast Quarter (N 1/2 N£ l/4) of Sectioa
<br />R"rreaty-four (24), fioxnship Eleven (12) North, Range Hine (9) West of the 6th P.M.
<br />TD HAVE AND 70 HOLD THE SAME: with the aapurtenances thereunto beingrr;g. un io LuT,,,t 2f Ci31 (ts SllLLESS4r5 and assigns, fOreYef.
<br />jald tAOrigd$nf5 hereby cdveirai:t Flu: Said w ,. Srb:S m * Linrisaonrc aru tawf,ify seized Gf jjr-~ MemiSeS. ttrat
<br />they ase free tram enc;:mbrznces, and that they will forever warrant~ard detend~ the trle to solo premises against the law,fui claims of all persons
<br />whomsoever.
<br />Provided, nevertheless, drese presents are upon the following conditions:
<br />That whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such !son and agreeing to repay said
<br />sum of money, wish interest, in payments as set forth in said note and have agreed to abide bt the terms of said note and Charter and By-Laws of
<br />Commercial.
<br />That whereas this mortgage shall secure any additio:al advances, •+:ith interest, which myy, 3t the option of Commercial, tre made by Com-
<br />mercial to the undersigned Mortgagors or their successors in title for any purpose. at any time before the release and canceilatinn of this mortgage,
<br />but PROVIDED, HOWEVER, at 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 11Q 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 consdered as Gmihng
<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 he paid the said sums of money when due, as set forth ir. said note, and any other note for
<br />addititsnal advances made until said debt is fully paid with interest, then these presents shall be void; otherwise, to ba and remain in full force and
<br />effect; txti if default should be made:
<br />fa) !n any of the payments due on said note, and any other note for additional advances made, as therein agreed to he made for three mernths, or
<br />fh) In keeping the improvements on said premises insured against loss by reason of fire, lightning, 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 accepuble to Com-
<br />mercial, the original of such policy or policies to ~ held try Commercial, and with a mortgage clause attached to said policy or policies,
<br />in favor of Commercial; or
<br />(c) In the payment of taxes and assessments levied upon said premises, or on this mortgage, before they are delinquent; or
<br />(d) If there is any change in the ownership of the real estate mortgaged herein, by sate. either outright or try land contract, or fry assignment rrf
<br />any interest thereon or otherwise; _
<br />then, in any of the above 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 shalt, from the date of the exercise
<br />of said option, bear interest at the maximum legal rate per annum, and This mortgage may then be foreclosed to satisfy the amount due on said note, and
<br />any other note for additional advances, together with ail sums paid by Commercial for insurance, taxes, assessments and abstract extension charges,
<br />with interest 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 note 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 note, and on any other note for additional
<br />advances, as therein agreed to be made, or in keeping the premises insured, as above provided, or if default be made in the payment of the taxes
<br />or assessments levied upon the premises above described or upon this mortgage, before they are by law delinquent, Commercial shall be entitled
<br />to the immediate possession of the premises above-described, together with ail rents, proceeds and issues arising out of the premises, and may
<br />m ins discretion use the rents so far as it deems necessary for the purpose of making repairs upon the premises and for the payment of inwrance
<br />pre:;:iu;::s, taxes and as~ssments upon such premises, and far necessary expenses incurred in renting said premises and collecting rent therefrom, and
<br />to apply same on said note and any notes evidencing future advances hereunder until the indebtedness secured is fully paid; and for such purposes,
<br />dre undersrPted does here~r sett, assign, set aver and transfer onto Commercial ail of said rents, proceeds and incomes including any-land cattract
<br />}nertts tote mortgage owners or any Other incomes at any type w;:atsoerer f;am said property to be apptred an the notes above-described; but saiE
<br />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.
<br />The Mortgagors further appoint Commercial of Omaha, Nebraska. their attorney in fact, giving said attorney power irrevocably, either on its own
<br />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
<br />or other inccnes due, and when vacant, to relet the same, to make all reasonable repairs and pay taxes out of said rents. profits, contract payments or
<br />incomes and to do all such things either by its own officers or by other parties duly authorized anC appointed by it, as its zgent for said purpose, and
<br />to charge or pay a reasonable fee tun such services. all of the above to be done al such times and in such manner and on such terms as to their said
<br />attorney may seers best, with full power of su6shtution.
<br />The Mortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a party to any suitor proceeding relating
<br />to the hereinbefore described real estate, or to this mortgage or said note or notes, other than a foreclosure instituted by Ca~nmerciat, Mortgagors will
<br />reimburse Commercial for all reasonable costs incurred by Commercial in said suit or proceeding. The Mortgagors further agree that if the hereinbefore
<br />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
<br />awarded, the proceeds for the taking, and for the consideration for such acgwsit~xr to the extent of the full amount of the remaining unpaid indebted•
<br />ness secured Iry this mortgage, be, and they hereby are, assigned to Commercial and shall be paid forthwith to Commercial to be applied on account of
<br />the last maturing instal~ts of such indebtedness.
<br />Dated this 7` > day of April , 19 79 _ . ` /)
<br />IN THE PR _ /
<br />„ Peer Frobeen
<br />~,~ a i
<br />STATE Of#66B4SKA ®~a
<br />~~drr'p~s .~~- day of _ ~ 19 ~, before me, a notary public in and for said County, personally came
<br />;'3_, ;. Judi K. Frobeen
<br />.._,~
<br />,~, ~ ~ well*'tsrtowh to ba"tte~ identical person nr persons whose name is ar names are affixed to the above mortgage as grantor or grantors and they, he
<br />_or~de;~=sEv9~aH}r actarcwte;~ge the said instrument and the execution thereof, to be their voluntary act and deed. Jam}
<br />- ~".h•._ _ ~ ~~
<br />~.E~~lrat aar}~€tariat Seat this day and year last a~ve written.
<br />lkk~a+~y l~b~e. l~Ca~ S~4Cp ~~1t1'SgG'4~
<br />My commission expires on the ~~- day of ~~___ : 19~ , isty C~.H:., , ~ Srn... ~rRe°S 7/i / 7
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