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.,~;~~~~~ EXPANI3ABLE 1VIORTGAGE
<br />79~ ASSIGNMENT OF RENTS Loan No. 49409-1 .
<br />KNOW ALL MEN 8Y THESE PRESENTS: That Gary N. Florentz and Eileen K. Florentz, Husband and 'alto,
<br />(hereinafter called the Mortgagors) in consideration of the sum df
<br />Thirty Thousand Three Hundred Twenty and No/100-------------------Dollars (5 30,320.00 )
<br />loaned to Mortgagors, do herebyy grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br />Nebraska (hereinafter called "Gommercral"), its successors and assigns, the following described real estate. situated in the County oL
<br />FALL State of Nebraska, to-wit:
<br />Lot Oae (1), in Flock Six (6), i.n Wiebe's Addition to the City of Grand Island,
<br />Hall County, Nebraska;
<br />TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging. unto Commercial. its successors and assigns, forever.
<br />Said Mor,gagors hereby covenant with said Commercial, its successors and assigns. thzt f,;ortgagois arc lawfuiry seized of said piemises, that
<br />ffiey are free from encumbiances, and that they will forever warrant and defend the t+t!e to said premises aga+nct the iawtdi claims of all persons
<br />whomsoever.
<br />Provided, nevertheless, these presents are upon the following conditions:
<br />Tha! whereas the said Mortgagors as members of Commercial "have this date executed a note evidencing such loan and agreeing to repay sai6
<br />sum of money, with interest, in payments'as set forth in said note and have agreed to abide ~ the terms .~+ said rote and Charter and By-Laws of
<br />Commercial.
<br />That whereas this mortgage shall secure any additional advances, wah interest. which may. at the option of Gommercral, 6e made 6y Com-
<br />mercial to the undersigned Mortgagors or their successors in title for any pupose. at any time befdre the release and cancellation of this mortgage,
<br />but PROVIDED, HOWEVER, at no time shall the aggregate principal amount secured bye this martgage. being the amount due at any time an said
<br />original note and any additional advances made, exceed an amount equal to i10 percent of the amaudt of the anginal 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 considered as limiting
<br />the amd;x+i that shat) be secured hereby when advanced to protect the security ar in accordance with covenants contained in the mortgage.
<br />Now. it the said Mortgagors shall pay or cause td be paid the solo sums of money when due. as set forth m said note, and any other note for
<br />ar~itiorrai advances made until said debt is fully paid with interest. then these dreseets shall be void: otherwise, to be and remain in full force and
<br />effect: but if default should be made:
<br />ia! In any df the payments due an said note. and any other note for adtldional advances made. as therein agreed to be made far three months, or
<br />(br In keeping fire improvements on said premises mwred against foss by reason of tire, lightning, and other hazards included in extended
<br />average insurance in an amount not less than the unpaid balance of said mortgage loan, m a company or companies acceptable to Com-
<br />mercial, the orginal of such polity er policies to bo held hr Commercial, and with a mortgage clause attarhed to said policy or policies,
<br />is favor of Commercial; or
<br />jtf In the payment of taxes and assessments levied upon said premises, or on this mortgage, before they are delinquent; or
<br />;d) It there is any change in the ovmership of the real estate mortgaged herein. by sale. either outright or try !and cantratt, or b?' assignment of
<br />any interest thereon or otherwise:
<br />tfren, in any of the above set-forth events, the whole indebtedness hereby secured Sahali. at t he option of Commercial, immediately trecome due and
<br />payable without further notice, and the amount due under card note and any other note for additional advances made shall, from the date of the exercise
<br />of said option, bear interest at the maximum legit rate per annum, and this mortgage may then he foreclosed to satisfy the amoNr.t due on said note, and
<br />arty oNer note for additional advances, together wrth 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 Hate and this mortgage and any other note for ad-
<br />ditional advances made exceed the maximum lawful rnteresi rate.
<br />PROVIDED, further, that in the event that de#ault occurs in the making df the payments due on said note, and an any Diner note far additional
<br />advances, as therein agreed tc be made. or in keeping Ghe premises insured, as above provided, cr if de#ault be made ir, ttie payment of the taxes
<br />iu assessments levied upon the premises above described ar upon this mortgage, before they are b5 law de;inquent, Commercial shall be entitled
<br />to the immraiiaie possession cf the premrses above-described, together with ail rents. proceeds and issues a.,s!ng out of the wemises, and may
<br />in its discretion iise the rents sa far as it deems necessary for the purpose of making repairs upon the premises and for the payment of insurance
<br />premiums, taxes and assessments upon such premises, and for necessary expenses incurred in renting said premises and collecting rent therefrom, and
<br />to apply same on said note and arry notes evidencing fubrre advances hereunder unfit the indebtedness secured is fully paad; and for such purposes,
<br />the undersigned does hereby sell, assign, set over and transfer unto Commercial elf of said rents, proceeds and incomes including any land canhact
<br />payments dre mortgige owners or any other intrxnes of any Type whatsoever from said property to be applied on the notes above-described: but said
<br />Carrmercia! shall in no case b° Irable for the failure to procure tenants, to collect rents, er to prosecute actions to recover possession of said premises.
<br />Tire kbrtgigors further appoint wmmerdat of Omaha, Nebraska, their attorney in fact, giving said attorney power irrevocably, either an its awn
<br />name or hkrigigors' names to take all necessary steps tot proceedings in court dr otherwise, to cause said premises to be vacated, to collect rentals
<br />a otlrer incomes due, and when vacant, to relet the =ame. to make ail reasonable repairs and pay taxes out at said rents, profits; contract payments or
<br />incomes and to do ail such things either by its awn ofificers ar bf' other partres duty authorized and appointed ~ it. as its agent fdr said p.rrpase, and
<br />to charge ar pay a reasonable fee for such services, all df the above to be done at such times and in such manner and en such terms as to their said
<br />atiomey may se~+ best, with full power of substitution.
<br />The Mortgagors hereby agree that it Commercial either vdluntarity or invnluntanly becomes or is made a party to any smt or proceeding relating
<br />to the frereinbefore described real esthte. or to this me*tgage or sard Hate or ndtQS, other than a tore;.!osure irstitu2ei: try Commercial. ?dortgagdrs witi
<br />reimburse Caamercial for ail reasonable costs incurred by Commercial in said suit ar pcoceeding. fie Mortgagors further agree that if the here,nbefore
<br />described real estate a arty part thereat be condemned under the power of emireni domain, ar is otherwise acquired for a public use, the damages
<br />awarded, the proceeds for the taking, and idr L+re cansideratim for such acquisition to the extent of the full amount at the remaining unpaid indebted
<br />Hess secured by this mortgage. De. and they hereby are. assigned to Commercial and shall be paid formwith to Commercial to be applied on actount of
<br />R+e'ast r^.abrring ~in,.s,tpalhn~r,ts cd s:;n, sndrob+ed,+!~ss.
<br />DatErt tfif4 Y day ^f. May 19 ~3-.
<br />Ift Tiff PRES€?tCE Of: ~n~r-f ~~,
<br />Gary N Florentz r~
<br />o Eileen K. Florentz
<br />STATE OF ~ '" da .,, ~, °~Q ~~ 7,~----
<br />f ~nrJ
<br />tx~~r ttF ~--t::s~ u. ~'--
<br />,. ~i:alai Zr e7"Y
<br />'°f~y . r~"'`-"~~--.day of -~ji _____~_ , 19 ~ ,before me, a notary public in and for said County, personally came
<br />.,m:. fi,3"Ei2er~ 1G Flareatz
<br />c.
<br />~ ~ pe ~f >b ~ ire identical person or persons whose name is ar names are af(ized to the abo~ae martgage as grantor or grantors and they, he
<br />flr sh4, seuer~ar9cr(Sw~dge dre said instrument and the execution thereof, to be their voluntary- d.
<br />c' ~: ~~
<br />~~r'ITNE~ argtr_~nt{at~~liotariat Seal this day aed year last above written. n {/y~1, ` ~
<br />Note ~ u5iic
<br />My camraissiwr expires on Lhe ~. -day of __ ±-. - 19 ~. M-SU
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