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79- ~~~~~ EXPA~D~BLE ~C}T~'TG~i.~~E ,,1~tt~. u7uz~-~ A5S'I(sM17AEMT OF BENTS - .....__.__ l;Nt~}tiY Alt. MEN 8Y THESE PRESENTS: That Paul E, Johnson, a single person''' '- (ha'resnafter ~Ited the'Wlortgagars) in consrderation of tyre sum of Thi Nine Thousand Txo Hundred and NO/lt)0--------------- Ootlars tS __3g ~p0 ~_3 loan~~ Mortgagors, do hereby grant, bargain, self arrd Convey unto COMMEftCiAt C=EDE4AL SAVINGS AND LOP,N ASS~IA~ION afQsra' :, f~febraska, (hereinafter called "Commercial"), its successors aru! assigns, the faboxing described real estate, situated in the County af, Fall State of Nebraska, to-evil: Lot Five (5) in Block Thirty-Eight (38} in Charles Wasmeres Adaition to the City of Grand Island, Hall County, Nebraska TO HAVE AND TO HOLD THE SARAE, with the appurtenances therec~nta belonging. ante Commercia;, its successors and assigns, forever. Said Mort~gers hereby covenant with said Commercial, its successors and assi~rs, that FAort?agors are lawfully seized of said premises, that they are free fran encumbrances, and that they will forgiver warrant and defend the title to said premi"see against the lawful ctarms of aft pessohs whomsoever. Provided, nevertheless, these presents are upon the following conditions: Tnat whereas the said Mortgagors as members of Commercial have thrs date executed a nefe evidencing such ?can and agreeing tc repay said sum of money, with interest, in payments as set forth in said note and have agreed to abide bS' the terms of said note and Charter and Bylaws of Commercial. That whereas this mortgage shall secure any additional advances, with interest, which may. at the option of Commercial, be made bS' Com- mercial to the undersigned Mortgagors or their successors in title for 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 thrs mortgage, being the amount due at any time on said original note and any additional advances made, exceed an amount equal to IiG percent of the amount of the onginaf note, but in no event shall said note exceed the maximum amount permitted by law, and PROVIDED, HOWEVER, chat 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 be paid the said sums of money when due. as set forth in said note, and any other note for a~ibonal advances made until said debt is fully paid with interest, then these presents shat! be void; otherxise, to be and remain in full force and effect; but if default should he made: (a) In any of the payments due on said note, and any other note for addtional advances made, as therein agreed to be made for three months, or _ (b) In keeping the improvements on said premises insured against loss b`1 reason of fire, lighthing, 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 Can- 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 (cj In the payment of taxes and assessments levied upon said premises, ar 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 by assignment of any interest thereon or otherwise; - then, in any of the above sot-forth events, the whole indebtedness 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, 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 event, either before or after default, shall the interest due under said note and this mortgage and any other note far ad- ditional advances made exceed the maximum lawful interest rate. PROVIDED, further, that in the event that default occurs m the making of the payments due on said note, and on any other note 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 payment of the thxes pr assessments levied upon the premises above described or upon this mortgage, before they are by taw delinquent, Commercial shall 6e entitled to the immediate possession of the premises above~described, together with alt 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 foe-the payment of insurance praniums, taxes and assessments upon such premises, and for necessary expenses incurred in renting said premises and cot±eding rent theretram, and to apply same on said note and any notes evidencing future advances hereunder until the indebtedness secured is fully paid; and for such purposes, the undersigned does hereby sell, assign, set over and transfer unto Commercial aft 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 fo 6e applied on the notes above-dasui~d; tart said Commercialshai(in no case be liable for the failure to procure tenants, to collect rents, or to prosecute achons to recover possession of said premises. The Mortgagors further appoint Commercial of Omaha, Nebraska, their aftomey in fact, giving said atiomey 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 or other incomes due, and when vacant, to relet the same, to make all reasonable repairs and pay faxes out of said rents, profits, contract payments or incomes and to do all such things either by its own officers or by other parties duly authorized and appointed 6y it, as its agent for said purpose, an6 to charge or pay a reasonable fee for such services, all of the above io 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 hbrtgagors 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 ar notes, other than a foreclosure instituted by Commercial, Mortgagors will reimburse Commercial for all reasonable costs incurred by 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, oris 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 noes secured by this mortgage, be, and they hereby are, assigned to Commercial and shall be paid forthwith to Commercial to be applied on account of the last mah:ring inStallm~nts of such indebtedness. y o Dated this 3D ~C day of ~ ~ ~ , t9LL. IN jjl~ P rNCE 0~r r STATE Of NEBRASKA COtfNTY.Of Stall ~r ~' ,,t! ' Od this ~~ d [ day of 11__ the above•named L/LKGG Paul E. Johnson 19 ~6efore me, a notary public in and for said County, personally same -Paul. E. Johnson, a single person to me wolf known to be the' identipl person or persons whose name is or names are affixed to the ve mortgage as grantor or grantors and they, he or she, severalty acknowledge the said instrument and the execution rer~~p(!a, NaprW'iH,rG deed. ~~ ~, oa. t~, t WITNESS my hand and Notarial Seal this day and year last above Mrs" y~£~ ~/f,~~_ My commission expires on the ~ z day of ~-~s-'~ig+ , ig~ nciary PJubi~ic ~ M-SC