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79-11030p EXPAI~3DABLE 1ViORTGAGE
<br />ASSIGNAiENT OF RENTS Loan No. 49>a13-C
<br />KNOW ,4LL MEN BY THESE PRESENTS: That Edward Lee Aken and Julia C. Aken, husband end wife
<br />(hereinafter called the Mortgagors) in consideration of the sum of
<br />Thi ~ Thousa d an~1 NO/100---------------------------------------.~ollars(5__3p pp0 0--)
<br />loane~td Martgagors,~e hereby grant, bargain, sell and tcnvey unto COMMERGIAL FEDERAL SAVINGS AND LOAN ASSGCIAl10IV of Etmaha,
<br />Nebraska, (hereinafter called "Commercial"), ifs successors and assigns, the following described real estate, situated in the County of,
<br />Ha11 State of Nebraska, to-wit:
<br />Lot Nine (4} in Block Six (6} in Dill and Huston's Addition
<br />to the city of Grand Island, Hall County, Nebraska
<br />TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging. unto Cammercial. its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Cammercial, its successors and assigns, that Atortgager are lawfully seized of said premises, that
<br />they are free nom encumbrances, and that b'rey will forever warrant and defend the titre to said oremises lost the lawful claims of all persons
<br />whomsoever.
<br />Provided, nevertheless, these presents are upon the following conditions:
<br />That whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loan 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 terns of said note and Charter and By-Laws of
<br />Commercial.
<br />That whereas this mortgage shall retort: any addit+a~a! advances, with interest, which may. at the option of Cammercial. be made by Ccm-
<br />mertial to the undersigned Mortgagors or their successors in title for any purpose. at any time before the release and cancellation of this mortgage,
<br />cwt PROVIDED, HOWEVER, at no time shalt the aggregate pr,ncipal 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 to 110 percent of the amaurt of the original note, but in na event shall
<br />said note exceed the maximum arrant ~rmitfed M law. and PROVIDED. HOWEVER. that nothing here+n tanta,ned shall be tons+dered as limiting
<br />the amount chat shall ~ secured trereby when advanced to protect the security or in accordance with covenants teniamed ;r. the mortgage.
<br />Now, if the swirl Mortgagors shall pay or cause to to pa,d the said sums of money when due. as set forth in said note, and any other note for
<br />a~itimsai advances made until said debt is fully paid wim inieresi, men mere presents shalt be yard; afierxise. to be and remain m foil force and
<br />effect; but if default should t>P made:
<br />tai to any of the payments doe on said note, and any ath2+ note for add,tianal advances made. as meresn agreed to 6e made for three months, or
<br />tb1 in keeping the improvements on said premises insured against loss by reason of fire, lightning, and other hazards included in extended
<br />wwrzge insurance in an amount not tens than the ut,paid balance of said mortgage loan, in a campary ar companies acceptable to Cam-
<br />mercial, the original of such policy or polices to be held bi' Commeraai. and wim a mortgage clause attached to said policy or policies,
<br />in favor of Ga~merciai: ar
<br />ill fn dte payment of taxes znd assessments levied upon said premises, ar on this mortgage, before Grey are delinquent; ai
<br />(d) tt there is any change in the ownership of the teal estate mortgaged herein,, by sale, either autn,ht ar ty land conhact, or by assignment of
<br />any interest Gtereon or otherwise: _
<br />ther±, in atry of the above set-forth events, the whale indebtebness hereby secured snail, at the option cf Commercial, +mmediately become due and
<br />payaGle wiGfout further notice, and the amount due under said note and any other note for additional advances made shall, htm the date of the exercise
<br />of said option, bear ;nteresi ai the maximom legal rate F•er annum, and this mortgage may then be foreclosed fa sourly the a^ount due on said nose, and
<br />any other note for additional advances, togemer with ail sums paid try Commercial far insurance, taxes, assessments and ahstract extension charges,
<br />with interest thereon from the date of payment at the maximum legal rate.
<br />PROVIDED that to no event, eitter before or after default. shall the interest due under said Hate and this mortgage and any other note For ad-
<br />ditir»taJ advances made exceed Uhe maximum lawful interest rate.
<br />PROVIDED, turmer, Graf in me event that default occurs in the making of me payments d;;e ar said Hate. and or! any other Hate far atlflitiaial
<br />advances, as therein agreed f¢ be made, ar in keeping the premises insured. as above provided. nr if default ~ mzde ,n the payment of the axes
<br />assessments levied upon me premises above described d upon this mortgage, before They are by 'aw de:,-;znt. Cammercial shall be entitled
<br />fe the imm~fiate possess+on of the premises aLrove-described. t.gemer with alt rents. precaeds and ,sues ar s,ng out of the premises, and may
<br />in its discretion use the rents sa far as ii deems necessary far Gte purpose of making repairs open the pres:;ses and for the payment of inwrance
<br />~emiums, taxes and assessments upon such premises, and for necessary expenses ,ncured m renting Ord premises and mtiett,rg re;rt therefrom, and
<br />la app}y same an said note and any notes evitlenciae fuhre advances hereunder until me indzbtethness secured is fully paid; and far surfs purposes,
<br />the undersigned does herebi sell. assign. set ever and transfer unto Cammercai ail of sa+c rents. proceeds and incomes mtiuding any !and contract
<br />payments tEre mortgage owners or any other intames of any type whafscever from sarv property io be appitetl an the Hates above-descr+tred; txrt said
<br />Cammertiai shalt+n no rase be liable far the failure b prature ienaats. to tal!ett tents. ;,r to prosecute achans to recover possess,nn at said premises.
<br />The ~rtgago;r further appoint C~rnmertizl ai Omaha. Nebraska, tneir attorney ,n fast. giwng sa;d attorney power ,rrevatabty, ether on its own
<br />or Aksrtgagors' names to Uke all necessary steps far praceed+ngs in t:a;rt or otherwise. th cause said premises ifl be vacated, Fe toitett rentals
<br />or other intones due, and when natant, to relet the sari. th make a!! reasonable repairs and pay faxes out of sz+d rants, profits, contract payments m
<br />sntomes ~ to do all such tiisngs either by ith awn afificers ar by other parties thr!y authorized and appC;nted m5 ;t as its agent fns said {xirpase, and
<br />L drag of pa'y a reasonable fee far sudi serv7tes, art at die a~rve fc be done at such times and in such ;:armor and an sect: terms as to their said
<br />attorney tear seem best. with fait power of subshb:fion.
<br />The >gagar~rs twrzi7j agree mat if >rxrtnert+at either vm:mtaniy ar r~vetuntariry tomes c~ s made a [arty to way sari ar proceeding rotating
<br />to die t~reinbefare described =ear ~>at£, ar tc th,s mortgage ar mad note or :rates. other than a toretlas.re inst:turedry Cammerc+al, Mortgagors wilt
<br />reimburse Catomertial fat all reas~saoe tarts mcursetl bS' Ca.:,mert,ai +n said su,t cr proceeding. Tt±- tAartgagors furtner agree that !f the hereinbefore
<br />described seal estate ar any part thiereaf tx co-adenuned under the power of em,nentw;,a,n. or :s oti;erw~sE atqu,rect for a publ,c use. the damages
<br />awarded, the psrueeds for the taking, and for the tansiderat{on tot such acquisrt!an to Gie extent of the full amount cf me remaining unpaid indebted-
<br />ness stC;=red'vy L"is i~rga~. b?. ~'33eY f:ereby are. assigmed fa G~..merc:ai a°t ~ralt be paid farG;w;th to Commercial fa t;e appl;ed an account of
<br />~f2 fast R~~rtny/t~r5#aif~it5 Df 5~-:l k€h~2bt2161255
<br />Da$d TtiS (~S~~ day o-t- , i9 ~. ~`-(J- p~~
<br />I±i THE PRESENCE 6F: 1 _ +~'~-~°^'~ "='=-~~~'~ --.__~
<br />~~ ¢"~ ~ i dwarrd Lee Aken
<br />;~~ U a
<br />- is C, Aken
<br />STATE OF NEt3RA~iA
<br />COUNTY OF 7_~1 ss. ~~~
<br />~ ~ tht-sue ~ "" day of t9 ' ~ , 4efare *n=, a notary {mblsc in and for said County, personatfy came
<br />Ecixasd Lee lUten and u1ia C. Aken, husband and wife
<br />to me wolf known to tle the identical person or persons whose itame is ar names are affixed to the above mortgage as grantor or grantors and mey, he
<br />or she, se+retaHy acknartlertge rte saifl insttumart and the a ett~P4~fRary act and deed.
<br />a wsaeFna ^
<br />MITNESS my trend and Notarial Seal this day and pear 1 ~ ~-' "' td,'! ~`
<br />~,%~ -~~-Notary Pobiic~ .
<br />My commission expires on the ~ ~ _ day of __Lr_C~~:~~-__ , 19 ~ M- ;0
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