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79,,., (1Ci31 ~6 EXPANDABLE iVIQR'Y"GAGE a2D2e1-s ASSIGNMENT dF RENTS Loan No. __ KNOW ALL MEN BY THESE PRESENTS: That Ronald R. Grim and Kimberly Grim, Husband and Wife, (hereinafter called the Mortgagors) in consideration of the sum of Twenty-six Thousand One Hundred and NaJ100------------------------Dotiars(825,100.00 loaned to Mortgagors, do hereby grant, bargain, self and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha? Nebraska, (hereinafter called "Commercial"), its successors and assigns, the fofiowing described real estate, situated in the County of, Hall State of Nebraska, to-wit: The 6lesterly Fifty-two (52) Feet of Lot Seven (7) in Hlock One Hundred Twenty-five (125) in Union Pacific Railway Company's Second Addition to the City of Grand Island, Hall Cotmty, Nebraska. TO HAVE AND TO HOLE THE SAME, with the appur!enances thereunto belonging, unto Commercial, its successors and assigns, forever. Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfully seized of said premises, that 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 whomsoever- Provided, nevertheless, these presents are upon the following conditions: That whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing ro repay said sum of money, with interest, in payments as set forth in said note and have agreed to abide by the terms of said note and Charter and By-Laws of Commercial. That whereas this mortgage shall secure any additional advances, with interest, which may, at the option of Commercial, be made by C~m- mercial to the undersigned Mortgagors or their successors in title for any purpose, at any time before the release and cancellation of this mortgage, but PROVIDED, HOWEVER, at no time shall the aggregate principal amount secured by this mortgage, being the amount due at any time on said original note and any additional advances made, exceed an amount equal to I10 percent of the amount of the original note, but in no event shall said note exceed the maximum amount permitted trv law, and PROVIDED, HOWEVER, that nothing herein contained shall be considered as limiting the amount That sha;l be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage. Now, if the Said ea~utroamr5 Pratt may nr rauce t„ >p mid the said m m5 or .money who,; dec. as Set Perth ir, said ,, ate, and any vu cr ^ far additional advances made until said debt is iu{ly paid with interest, then these presents shall be void: otherwise, to be and remain in fail force and effect; but if default should be made: (a? In any of the payments due on said note- and any other note for additional advances made, as therein agreed to be made for three months, or {b} In keeping the improvements on said premises insured against toss by reason of fire, lightning, and other hazards included in extended coverage insurance in an amount no! less than the unpaid balance of said mortgage loan, in a company or companies acceptatle 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 pollees, in favor of Commercial, or tcl In the payment of taxes and assessments levied upon said premises, or on this mortgage, tretore they are delinquent; or id? It there is arty change in the ownership of the real ec_tate mortgaged herein, by sate, either outright or (ry land contract, or by assignment of any interest thereon ar athecwlse; - then, in any of the above set-forth events, the whole indebtedness hereby secured shall, at the option of Commercial, immediately become due and payable wittrout further notice. and the amount due under said note and any other note for additional advances made :,hall, from the date of the exercise of said option, !tear inthrest at the maximum legal rate per annum, and this mortgage may then be foreclosed to satisfy the amount due on said note, and any affair note fa additional advances, together with alt sums paid b)' Comrrerciai #or insurance, fazes, assessments and abstract extension charges, wiCr interest tlrereon frwn the Cate of payment zt the maximum legal rate. PROVIDED that In na event; either before or after default, shall the interest Cue under said note and this mortgage and any other note for ad- ditiarar advances made exceed the maximum lawful interest rate. PROVIDED. further, that in the event ttrat default occurs in the making of the ~yments due a. said rote. and on any other note to additinnai advances, as dterein agreed io 6e made, or in keeping the prenises insured, as above provided, a if default ~ made in the payment of the taxes o: assessments levied upon the premises above described or upon this mortgage, before they are try law delinquent, Commercial shall be entitled ro 6te immediate possession of the premises above-Cescribed, together with all rents., proceeCs and issues arising out of the premises, and may in its discretion use the rents so far as it deems necessary for the purpose of making repairs upon the premises and for the payment of insurance pre:neuffis: thxes and assessments epnn such premrses, a.~d for ;~cessary ez^enses iacured in renting said premises and collecting rent therefrom, and ro apply smote an raid note and asy notes evidencing h.ture advances hereunder unfit the indebtedness secured is tatty paid; and for such purposes, the tmdersrgned does hereby seH, assign, set over anC transfer unto Commercra! ail of said rents, proceeds and incomes including any !and eentract payments due murt~ge owners or any other inwmes of any type whatsoever from sard property ro be applied on the notes a~ve-described; but said Commercial shall in no case 6e liable for the failure ro pruare tenants, to collect rents, or to proseale actions to recover possession of said premises. the Mgrlgagars further appoint Commercial of Omaha, Nebraska, their attorney rn fact. giving ;aid attomey power irrevocably, either an its own name x Mortgegars' names to take ail necessary steps fur proceedings ~n court or otherwise, to cause said premises to be vacated, to collect rentals a other incomes due, and when vacant, to relet the sage, ro make al! reasonable repairs and pay taxes out cf said rents, orofits, contract payments or incomes arM to do alt such things either by its own officers or by other parties duty authorized and appointed by it, as its agent for said purpose, and to charge or poi a reasonable fee for such services, all of the above to !>e done at such times and in such manner and on such terms as to their said atiomey may seem best, with fait power of substibttion. The tlortgagors hereby agree that if Commercial either voluntarily or mvoluntanly (recomes or is made a party to any suit or proceeding relating to the hereinbefore described real esthte, er to this .mortgage or said n of=_ or notes. other than a foreclosure instituted b'1 Commercial, Mortgagors wilt reimburse Catrmertial for alt reasanab!c crisis inarred try Commercial in said suitor proceeding. The Mortgagors further agree that it the hereinbefore described teat estate or any part tltereef be condemned under the power of eminent domain, or is otherwise acquired for a Dublic use, the damages awarded, the proceeds for the taking, and for the consideration far such acquisition to ttre extent of the full amount of t5e remaining unpaid indebted- ness secwed try this mortgage, be, and they hereby are: assigned to Commercial and shall ce paid forihwifh to Commercial to be applied on account of the last rsafucing installments of sndi indebtedness. ~kd this '2~5T Cay of Flaw , 13 ~~-. RI 1}1E PRESENCE OF: ` -Ldp STATE O1" Nf9RA5KA ss Ronal R. Grim Kimberly Gr m C9UNTY Df BALL . 'Orr this ~'~ day ~ - !flay 1S ?9 . before me, a notary public in and for said County, personally came fire altnve-named . Roatald R, Grito and iCimberlq Grim, Husband and Nife, f kn.~, '- ~ the i~ „boat ~,~; v+ ~r .. ,e ~~ c; ^ mew _; rixsn to rn<above mortoaae as r ors ann n,o~ he ~t amts '"hie Ira, eat grantn nr grant ~.aC9a4 ~ 'nsbument and fhe execution thereof, to be their voluntary act and deed. ~f~ imlMl~'~ltrAertNrMMa %yv~~ i~C~l67Le~' day and year last above written. /~~ commission ex ties on the ~J``~ ~ ~/~ Notary Public MY P day of GYUS7- - , 19 - . fn 50