|
7g- Ul~-3Q55 EXr-'A1~TDABLE MORTGAGE 82Q2ao-o
<br />ASSIGNMENT OF RENTS Loan No.
<br />KNOW ALL MEN By THESE PRESENTS: That Peter E. Kortum and Mary J. Kortrun, husband and wife
<br />(hereinafter called the Mortgagors) in consideration of the sum of
<br />Thirty Thousand One Hundred and Fifty and NO/100-•---------------- Dollars (5-30 150.00-- )
<br />loaned to Mortgagors, do herebyq grant, bargain, se8 and convey unto COMMERCIAi FEDERAL SArJINGS RND LOAN ASSOCPATlON et Omaha,
<br />Nebraska, (hereinafter called "Commereral"), its successors and assigns, the following described real estate, situated in the County of,
<br />Hall State of Nebraska, to-wit:
<br />SEE EXHIBIT "A"
<br />TO HAVE AND TO HOLD TFiE SAME, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns, forever.
<br />Said ±,tortgagors hereby covenant with said Commercial, its successors and assigns, that h9ortgagors are lawfully seized of said premises, that
<br />they are free from 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 renditions:
<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 iorth in said note and have agreed to abide tr+ the terms of said note and Charter and Bylaws of
<br />Commercrah
<br />That whereas this mortgage shall secure any additional advances. will! interest, which may, at the option of Commercial, be made by Com-
<br />mercial to the undersigned Mortgagors w their successors in title for any purpose. at any time before the release and cancellation of this mortgage,
<br />but PROVIDED, HOWEVER. at no time shall the aggregate principal amount secured by this mortgage. being the amount due at any time ce said
<br />original note and any additional advances made. exceed an amount equal to ill percent of the amount of the original note, tart 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 amount that shall ire secured hereby when advanced to protect the securiby or in accordance with covenants contained in the mortgage.
<br />How, if the said t6nrtgagors S,Sall pay or cause to 6e paid the said sums of mo.^.ey when due. as set fortlr in said note. and any other note for
<br />additional advances made until said debt is fully paid with interest then these presents shall tre void; othersise, to tie and remain in full force and
<br />e#ect; but if detauii should be made:
<br />ial {n any of the payments due on said Hate. and a<~y other note for additional advances made, as therein agreed to be made for three months, or
<br />ibl in keeping the improvemens on said premises insured against loss by reason of hie, IighNing, and other hazards included in extended
<br />coverage insurance in an amount not less than the unpaid balance of said mortgage lean. rn a company or companies acceptable to Com-
<br />rr~rtiai. the original of such polity or policies #a be held try Commercial, and with a mortgage clause attactretl to said policy or po".tries,
<br />in #aver of Comrnercia I: or
<br />ici hr the payrnerit of taxes and assessments lev!ed upon said premises, or on this mortgage, before fhey are delinquent; or
<br />?tli tf triers is any change in the ownership of She real estate mortgaged hereto. by sale. either outright or by lard contract, or by assignment of
<br />any interest thert•orr ar otherwise;
<br />ttterr, rn arq of the above set-forth events. Lhe whole indeb#edriess hereby secured shall. at the option of Commercial. immediately became due and
<br />payable wiL'uaui further notice, and the amount due under said note and any other note for additional advances made shall, troy the date at Coe exercise
<br />df said option, bear interest at the maximum legal rate per annum. and this mortgage may then be foreclosed to satisfy die amoi:nt duo on said note, and
<br />any other ceth for additional advances. together writ: all 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 rr, na event. either be#are or after default, shah the interest die under card note and this mortgage and any other note far ad-
<br />dibdnai advances made exceed the maximum lawful interest rate.
<br />PROY{DED, fiarther. that in the event that detault xturs in the making of the :ayments due on said nets. and ors any other note for additional
<br />advances. as therein agreed to be Trade. or in keeping the premises insured, as above provided, or if default tr made in the p,;yment of the taxes
<br />~ assessments i.vred upa^. the paemises above described cr open this mortgage. before they are t»' raw tlelrny::ent. Commertcal shall be entitled
<br />t^ the irrenediate pessessim± of the premises above-described, together widr a! r?,^„s, proceeds and issues arssmg art of the premises, and may
<br />in ris distrehon use the revs se far as it deems netessary for the purpose of making repairs upon the premises an8 for the rayrnent of insurance
<br />flr~n_~s, 'mixes and assessments upon such premises, and for netessary ezoenses iatu~r?d in renting said premises and collecting rent therehortr, and
<br />amity s ~ mid rate ~d any nnins eviderang f~at_:re advances hear,^.der unt;! ttr°. in~bte~ress ssc::red is fully paid: and ter sorb ~rtxrses.
<br />Gre sssder~gnert ~ herebjr soli. assigr!, sot a+er and transfer unto Cormercial a!C of said arts, proceedds and incomes mclud!ng any land corrUact
<br />pay~rts due aortgage swners ar any other incomes of any type wtatscever fiarn card praperh' to be applied on the notes above-described; but said
<br />Cwnmertialshall rn no case 0. liable fps the failure th prowre tenants. to collect arts, ar fc prosea,te attians to retover possession of said premises.
<br />The tAartgagm's further appoint Commercial of Onraha. Nelxas;ca, their attorney m fart. ginng card attorney ~,wer irrevocably, either on is own
<br />nee ~ iM:tgagots' names to take ail necessary steps for p:axedings m court ar otherwise. to reuse said premises to be vacated, to coliett rentals
<br />or olfrer rnwmes dire, and when vacant, to islet fire same, th make al! reasonable repairs and pay taxes out of sold rents, profits, contract payments or
<br />iatdme; and to do all such things either dY its awn officers or by other parties duly authorized and appointed by it, as its agent fur said purpose, and
<br />to rirarge ar pay a reas~rable #es for such servitor. alt of the above tc D2 done at such bores and in such manner and on such terms as to ttreir said
<br />attorney may ~ crest, with foil power ofi substitution.
<br />Tne Yort~gas tresetry agree the: !f Commertia! either va!untan!y ar :nvolunrarily decxnes or .s mane a {airy rt, any sort ar proteedrng relating
<br />to ttw fre.~arabefdre descrittad real es~fe, or to this rrrarYgage m said note c~r notes, other than a foretlosu;a instituted try- Commerual, Mortgagors will
<br />teimt+ase C~ercial lot alt reasonable torts rntured by Commercial .n said sailor pioteetling. The ±6artgagors further agree Shai if trio hereinbefore
<br />r~scri>~+ r~i estate ar airy part hereof be con.*remn~ urMer the paws; of eminent amain er rs otherwise atpuired ter a pubhc use. the damages
<br />awarded, 8re proceeds far the taking. and fa the cansi~ratim for such acquisit!on Yo the extent of the full amount ai the remaining unpaid mtlebted-
<br />nes setused by ffirrs arottgege, tie, and ttfey ireretry are assigned Ie Cammertiai and shah be paid forthwith to Cammertcal to be applied on account of
<br />the last naiuriag irtsAUmarts cfi sutir irrdebt2dness.
<br />I)a~r7 tkis _/ -,6''TT~~CC daY of , 19 L~ .
<br />~ THE PRf~liCE OF:
<br />r E~ Kortwn ' ~ --
<br />/J'i~ h ,f
<br />}lacy J
<br />'SPATE 4f t4E~IA~A
<br />COiiNTY Dt= ~~ ~-
<br />' fln tins ~~ ~ day of IS ~ ,before me, a notary public in and for said County, personaiiy cams
<br />ftie mimed
<br />Peter £. Krntum aw:d J. i{ortr~r, husband and wife
<br />io are wilt kcowa t$ he tfre i~iitet person or persons wise name is r - ~fillodcllllKmortgage as granEm or grantors and they, he
<br />w she, severalty arAcnowieG¢e the said instnr~t oral the execution >~trtwl~fJfAGnd deed.
<br />N'tTNE~ my hand and tid't$tial Seal Etds dap and year last above writ ,/
<br />u( Notary F';;td~c
<br />MY commission expires rn the ~ 7 day of t9? ,y M-SD
<br />
|