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i i r 1~-- r',, ~' X~t~l ~~.,~~.~i' ~~~-`I''~~rf'~G I' PS16276-1 ~.i'F, I „,"y!' "~Q /?,SSiGNMENT ~F RENTS. -ca',~ rii~. ----__.,._-----_._-_ IStitOYV ALl tlVl'EN BY THESE PRESENTS: Thzt Raly A. DeLeon and Rita J. DeLeon; husband and wife {hererna~rer called the Mortgagors) in cons;deration of the sum of THIRTY-SI% THOUSAND AND NZNE HUNDRED----------------------------- Dollars (5 36,900.00----j ?paned to hSorfgagors, do here~y grant, irargain, self and convey unto COMMERCIAL FEDERAL SAVfNuS AND LOAN ASSOCIATION df Omafra, Nebraska. {hereinafter called "CommerciaP'), its successors and assrgns. the following described real estate, situated in the County of, Hall State of Nebraska. to-wiY: Southerly Eighteen Feet (18`) of Lot Eleven (11) and ail of Lot Thirteen (13), in Fslock Twenty- Four f2µ), in University Place, an Addition to the City of Grand Island, Hall County, Nebraska TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto Getdng~ng. unto Cn^,mer.~rai, its successors and assigns, forever. Said Morfgagors hereby covenant with said Commeraal, its successcrs and assrgns, tl±at h'ortgagdrs are lawfully seized df said premises, that they are free from encumbrances, and that they will forever war ant and defend the ;~;:e to said premises against the lawful claims df atl persons whomsoever. Provided, nevertheless, these presents are upon the following cond+t!dns: 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, w;th interest. in payments as set forth in said Here and have agreed td abide by the terms of card note and Charter and By-Laws of Commercral. That whereas this mortgab~e shall secure any additional advances. with interest. which may. at the option df Commercial. be made by Com- merdal to the undersigned Mortgagors or their successors m title fr any purpose. at any time before the release and cancellation of this mortgage, but PROVIDED. HOWEVER, at no time shall the aggregate prir.upa! ar-,dunt secured by this mortgage. being the amount due at any time on said original note and any additional advances made, exceed an amount equa; to i10 percent of the amdant of the original note, but in no event shall said note exceed the maximum amount permitted th/ law, and PROVIDED. HOWEV'eR, Giat ndtlrng herein contained shall be considered as limiting the amount that shall be secured hereby when advanced td protect the security or in accordance with covenants conta+netl m the mortgage. Now, if the said Mortgagors shall pay or cause to be paid the said sums of money when due. as set forth m said Hale, and any other note for addihdnal advances made until said debt is fully paid with interest, then these presents shall be void: oherwise. to be and remain m lull force and effect: Gut if default should be made: %a) In any of the payments due on said note, and any other Hate for additional advances made, as therein agreed td he made for mice months, or ibl In keeping the improvements on said premises insured against loss by reason of fire, lightning, and other hazards included m extended coverage insurance in an amount not less than the unpaid balance of said mortgage loan, in a company dr 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 updn said premises, dr on this mortgage, before they are delinquent; or td) If there is any change in the ownership of the real estate mortgaged herein, by sale, either ouiright dr fA' land contract, or by 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 trecome 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 exerase of said option, bear interest at the maximum legal rate per annum, and this mortgage may then t>e foreclosed to satisfy the amount due on said note, an0 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 cf payment at the maximum legal rate. PROVIDED that in no event, either Gefore or after default. shall the interest due under said note and this mortgage and any other note for ad- ditional advances made exceed fhe maximum lawful interest rate. PROVIDED, further, that in the event that default occurs in the making of the payments due on said note, and do any other Hate far 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 taxes dr assessments levied upon the premises above described or u~~r; ;his mart-gage, before they are by taw delinquent. Commercial steak! be enG±led to the immediate possession of the premises above described, together with all rents, proceeds and issues arising out df the premises. and may in its discretion use the rents se far as it deems necessary for the purpose of making repairs updn the premises and for the payment df 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 indebtedness secured !s fully paid: and for sorb pu Moses. the undersigned does hereby sell, assign, set over and transfer unto Commercial all of said rents, proceeds and incomes including any Land cdntract payments due mnrigage owners or any other incomes of any type whatsoever from said property to be applied do 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 td recover possession of said 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. Id cause said premises to be vacated, to collect rentals dr other incomes due, and when vacant, to relet the same, to make all reasonable repairs and pay taxes out of said rents, profits, cdntract 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 sucG services, a!I of the above to be done at such times and in such manner and do such terms as to their said attorney may seem best, with full power of substitution. The Mortgagors hereby agree that if Commernal either voluntarily or mvotuntanly becomes or is made a party to any suitor proceeding relating to the hereinbefore described real estate, a to this mortgage or said note or notes, other man a foreclosure instituted by Commercial, Mortgagors will reimburse Commercial far all reasonable costs incurred by Commercial in said suitor prodeed,,,x. 'he Mortgagors further agree that if the hereinbefore descriced real estate or any part theiedf be condemned wider the power of eminent domain, or is otherwise acgwred for a public use, the da!rages awarded, the proceeds for the taking, and for the consideration for such acquisition to the extent of the full amount d( the remaining unpaid mtlebted- ness secured try this mortgage. be. and they hereby are. assigned to Commercial a^d shall be paid forthwilh to Commercial to be applied do atcount df the last maturing installments of such indebtedness. Dated This 7th _ day of __. Hay . lg 79 .. , t ` r oy7 -ssDeLeon __~ ~T__-- ' a J. DeLebn STATE OF NEBRASKA SS. ~ ..~r______ COUNTY OF On this 7th day of May 14 79 ,before me, a notary public in and for said County, personally came the above-named Roy A. DeLeon and Rata J. DeLeon; husband and wife to me well known to be the identical person or persons whose name is or names are affixed to the above mortgage as grantor or grantors and [hey, he or she, several) acknowled a the said instrument and the exe uti ~~hP~~off ~~~~ he thPi v h,~1~ntIaar act and deed. Y g ~ENER7R lmT0.~ • ~ ~ ~W y ARNOLD D. WEQBER~ /^ / WITNESS my land and Notarial Sea! this~nd year las lpgliComm, Eep, pee i i, in~af ~ f / ~ ~ Pfotary PuGlic My commission expires on the ~ 7 coy ct_ ~- t9~ M 5D be