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~-- ~[~`~~29 EXPr~l~ D~s:BLE '-rIf~RTGAtGE ASSIGNMENT 4F RENTS 47431-2__ P~oan Ne, _---------.. 'rftNOfN ALL MEN t3Y TNESE PRESENTS: That Robert W. Bush and Debra S. Bush; husband and, wife {herernafter ;ailed the Mortgagors) in consideration of the sum of THIRTY FOUR THOUSAND FIVE Ht3NDRED AND NOJi00--------------------- Ooiiarst534 5q0 0 --1 loaned to Mortgagors, do herebbyy grant, bargain, self and convey unto COMMERCIAL FEDERAL SAYINGS AND LOAN ASSOCfAT(OA of Omaha: Nebraska, !hereinafter called "Cammerctal' ). its successors and assigns. the tetlowrng described real estate, situated in the County cf, Hail State of Nebraska, to-wit: Lot Five {S) in Block One {1) in Sothman's Subdivision to the City of Grand Island, Hall County, Nebraska TO RAVE AND TO HOLD THE SAME. with the appurtenances thereunto belrnging. unto Commercial. its successors and assigns, forever. Said Mortgagors hereby covenant with said Cammer+al. as successors and assigns. that Mortgagors are lawfully seize„ of sand premises, that they are free from encumbrances, and that they wilt forever waraef and defend the title to said premises against the !awful ciatms of all persons whomsoever. Provided, nevertheless, these presents are upon the following cond+bons: That whereas the said Mortgagors as members of Commercial have this dzte 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 8'y-Laws of Commercial- That whereas this mortgage shall secure any additional advances. with interest, which may, at the option of Commercial, be made 6y Com- mercial to the undersigned Mortgagors or their successors m title for any purpose, at any time before the release and cancellation of this mortgage, but PROVIDED, HOWEVER. at nn time shall the aggregate principal amount secured 6y this mortgage, being the amount due at ary time on said 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 said note exceed the maximum amount permitted by law, and PRUVIUED, HOWEVER. that rething 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 addiiionat advances made until said debt is fully paid with interest, then these presents shall be void; otherwise, to 6e and remain m Lull forte and effect; but if default should be made: (a?t-n 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 16? In keeping the improvements on said premises insured against loss by reason of fire, lightning, and ether hazards included in ex±ended coverage insurance in an amount not Tess than the unpaid balance of said mortgage loan, in a company cr companies acceptable to Com- mercial, the original of such policy ar policies to be held by Commercial, and with a mortgage clause attached to said policy or policies, in favor of Commercial; ar (ci In the payment of taxes and assessments levied upon said premises, or on this mortgage, before they are delinquent: or {dr If there is any change in the ownership of the real estate mortgaged herein, by sale, either outright or al land contract, or t>y assignment of any interest thereon or otherwise; - then, in any of the above set-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 t.,a exercise of said option, liar 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 for additional advances, together with all sums paid by Commercial for insurance, taxes, assessments and zbstract extens)t`itr 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 for ad- ditional advances made exceed the maximum lawful interest rate. PROVIDED, further, that in the event that default actors in the making of the payments due on said note, and on any adter note for addihara! advances, as therein agreed to be made. or in keeping the premises insured, as above provided, or if default be made in the payment cr ;; a fazes or assessments levied upon the premises above described or upon this mortgage, before they are by law delinquent, Commercial shalt t.!e entitled to the immediate possession of the premises above-described, together w!ih a!I rents, proceeds and issues art=_ing out of the ~ emises, znd :may in ifs discretion use the rents so far as it deems necessary for the purpose of making repairs upon the premises and for the payment at inwran~e premiums, taxes and assessments upon such promises, and for necessary expenses incuretl in renting said premises and coiterting rent therefrom, and to apply same on said note and any notes evidencing future advances hereunder until the indebtedness secured is fatty paid: and tar such p'~rposes, the undersigned does hereby sell. assign, set over 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 from said property to be applied on the notes above-described; but said Commercial shall in no case be liable for the failure to procure tenants, to collect rents, or to prosecute actions to recover possesston of card premises. 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 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 taxes cut of said roots, profits, contract payments or incomes and to do all such things either by its own ofiicets or by other parties duly authorized and appointed try it, as its agent .m said purpose, and to charge or pay a reasonable fee (or 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 hest, with full power of substitution. The Mortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a parry to any swt or proceeding retaling to the hereinhefore described real estate, or to this mortgage or said note or notes, other than a foreclosure instituted by Commeraal. Mortgagors will reimburse Commercial for all reasonable costs incurred by Commercial is said suitor proceeding. Pte fdortgagors further agree that it the hereinbefoie 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 rema+ning unpa+tl indebted- ness secured by this mortgage, be, and they hereby are, assigned to Commercial and shall 6e paid forthwith to Commerc+a! to ~ applied on account of the last maturing instal ents of such indebtedness. Oated Ifiis ~~ day of May , 19 79 IN TH~~ SEN~1 0 ~ ~ -/f / : cGlc STATE OF NEBRASKA ~~ ~ _ ___ R ert W, Bush ~ m~ Debra S. Bush Ss. REENERILL IgfARr • ~Y d Nror. __ COUNTY OF HALL ARNOLD D. weoerna phCdam.fCtPOacn ts~a On this . J day of ____~y 19 _ ,before me, a notary public in and for said County, persnna'ty came the above-named Robert W. Bush and Debra 8. Bush, Husband and Wife, to me welt known to 4e 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. WITNESS my hand and Notarial Seal this day and year tact above wriUen. {~ ~/ ~t~ f{ - J ;, ~~ -_ - - ,~~ otN ary PcLl:c My commission expires on the /~ day of __ ~ `T-~U-c 19 -_, ~~ 71-50 be