|
~~`, ~ r EXPANDADI.E 11~IC7R.TGACxE 49410-6
<br />~' 2 ~ `~ ~ ASSIGNMENT OF RENTS Loan fm.
<br />KNOby ALL MEN BY THESE PRESENTS: That Francis S. Sindelar and Rose Ann Sindelar; husband and
<br />wife (hereinafter called the Mortgagors] in consideration of the sum of
<br />TWEpTY-TWO THOUSAND AND NO/100-~°=--------------'--'--------'-----0ollars(S22 000.00----)
<br />loaned to Mortgagors, do r~ereby grant, bargain, soh and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOLtIATION of Omaha,
<br />Nebraska (hlereinafer called "Commercial"t, its successors and assigns, the following described real estate, situated in the County of,
<br />Hai State of Nebraska, to-wit
<br />Lot Ten (10), except the Westerly Thirty-Five (35)
<br />Feet thereof, and the Westerly One-Half (W~) of
<br />Lot Eleven (il), all in Block One (1), in Bel-Air
<br />Addition to the City of Grand Island, Hall County,
<br />N br~s}~a.
<br />Tv HAVE AND TO HOLC THE SAk?~. wi a appurtenances thereunto belonging, unto Commercial, its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Commercial. its successors and assigns, that Mortgagors are !awfully seized of said premises, that
<br />they are free free! encumbrances. and that they will forever warrant and defend the title to said premises against the lawful claims of all persons
<br />whomsoever.
<br />Provided. nevertheless. these presents are upon the following conditions:
<br />That whereas Yie said Mortgagors as members of Commercial have this date executed a pate evidencing such teen and agreeing to repay said
<br />sum of money, with interest, in payments as set forth in said note and have agreed to abide by the terms o(said note and Charter and BY-laws of
<br />Commercial.
<br />That whereas this mortgage shall secure any additional advances. with interest, which may. at the option of Commercial. be made by Com-
<br />mercial to-the urruersigned Mortgagors or their successors in bile for any porpese, at any time before the release and cancellation of this mortgage,
<br />fx,t PROVIDED, HOWEVER, at nn 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 is liC 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 considered as limiting
<br />the mount that shall be secure-d hereby when advancztl to protect the secur,T• ar in accordance with covenants contained in the mortgage.
<br />Now, if the said Mortgagors shall pay or cause io be paid the said sums of money when due, as set forth in said note, and any other note for
<br />additional advances made until said debt is fully paid with interest. @ie-n these presents shall be void: otherwise, to be and remain in felt force and
<br />effect: but if default should be made:
<br />(a) !n any of the payments due oe said note, and any other note ter additional advances made, as therein agreed to be made for three months, or
<br />(b In keeping the improvements on said premises rosined 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 acceptable to Com-
<br />mercial, the original of such policy or policies to be held by Cammerc:al, and with a mortgage clause attached to said Policy or policies,
<br />in favor of Commercial; ar
<br />fc) In the payment of taxes and assessments levied upon said premises, or on this mortgage, before they ate delinquent: qr
<br />(d) If there i3 any change in the ownership of the real estate mortgaged beret.^.. yy sale, either outnght or by land contract, or by assignment of
<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 became due and
<br />payable without further notice, and the amount due under said ..ate and any other note for additional advances made shall, from the date of the exercise
<br />of said oFiion, bear interest at the maximum legal rate per annum, and this mortgage may then fu foreclosed to satisfy the amount due on said note, and
<br />any other note for additional advances, together with all sums paid try 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 Shat in no event, either before cr altos default. shall the interest due under said pate and this mortgage and any other note for ad-
<br />ditional advances made exceed the maximum lawfi,i interest rate.
<br />PROVIDED, further, that in the evens chat default occurs in the making of the GaYments due on sai6 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, a 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 im!aediate possession of the premises above-described, together with all tents, proceeds and issces art<_mg out of the premrses, and may
<br />in ifs discretion use the rents sa far as it diems necessary for the purpose of inking repairs upon the premises and for the payment of insurance
<br />premiums, bozos and assessments upon such premises, and far necessary expenses incurred in renting said premises 2nd collecting rent therefrom, and
<br />to apply same on said nose arid any notes evidencing ;uhure advances hereunder until the indebtedness secured is fully paid; and for such purposes,
<br />+J;e undersized does hereby sell. assign, set over and transfer unto Commercial ail of said rents. proceeds and incomes including any (and contract
<br />payments dare mort~ge ewrers er any other incomes of any type whatsoever tram said property fo ~ applied on the notes above described; tut said
<br />Commercial shelf in ore case be liable for the failure to procare tenants. to collect rents. or to prosecute actions to recover possession of said premises.
<br />The Alortgagi,rs furt;'rer appoint Commercial of Omaha, Nebraska, their attomey in fact, giving said attomey power irrevocably, either on its own
<br />name rx Mortga~rs' names to take all necessary steps for proceedings m court ar otherwise, to cause said premises ro be vacated, to collect rentals
<br />or oNer incomes due, and when vacant, to relet the same, to make al! reasonable repairs and pay taxes oat of said rents, profits, contract payments or
<br />incomes and to do all such things either by ils own officers ar by other parties duly authonzed and appointed by it, as its agent for said purpose, and
<br />to charge or pay a reasonable fee ter such services. all of the above to i>e done at wch bores and in such manner and on such terms as to their said
<br />attomey may seeEri best, with full power of wbstihitien.
<br />The tt~r`~gagiarrs hesebv agree that ii Commercial either vatuntarily or involuntarily becomes or is made a party to any suitor proceeding relating
<br />to the hereinhefae described rest estate. m to this mortgage or said note or notes, other than a foreclosure instituted by Commercial. Mortgagors wilt
<br />reimburse Cormxerr:iaf for ail rrrasonab;e casts Incurred by Commercial in said smit ar Proceeding. The fdartgagcrs further agreo ":at :f the hereinbetore
<br />described real estate d any part a,erecf be condemned under th<_ power ai eminent domain. ar is otherwise acquired for a public use. the damages
<br />awarded. the proceeds for the tvking. and for the consideration for such acquisition to the extent of the full a.,~ount of the remaining unpaid indebtetl-
<br />rress secured by this mortgage. be. and itrey heretg~ are, assibxred to Commercial and shall be paid forthwith to Commercial to be applied on account of
<br />the last maturing installments of suds indebtedness.
<br />l~tsd this //~~i day of May , tS 79 .
<br />~j,~ , i
<br />IN THE PRESENCE i~"72L1~~ '"'._~--- -
<br />Francis S. Sindelar
<br />,~, Rase Ann Sindelar
<br />STATE Of NEBRA57(A
<br />COUNTY Of Hall
<br />(}e ths 11th day of __._~~__-..-_. 19 ~~ ,before me, a notary public m and for said County, personally came
<br />1lreabare-named Francis S. Sindelar and Rose Ann Sindelar; husband and wife
<br />t4 are welt iurawn th be the identical pe{srm ar persons wtrose name is er names are affixed to the above mortgage as grantor or grantors and they, he
<br />a wr1i,F+i~w~1 rrusrt and [he execution thereof, io be their voluntary act and deed.
<br />~MRNIt1~I•MY,tMf~M /1
<br />and year last above written. ~~~~ ~~ ~~
<br />A - _ _ ___
<br />~~// {~ f 1'i0i~tiyruhii~.
<br />MY commission exp+ses on the--- ~~''° day of_l.~UJr--- __. 19 e{1 tor.;;,
<br />
|