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79- UU310~3 EXPANDABLE lO~ORTGAGE s2o2a2-s
<br />ASSIGNMENT f3F RENTS Loan No. _.
<br />KNOW ALL MEN BY THESE PRESENTS: That Doyle H. Whaley and Clara Mae Whaley, Husband and Wife,
<br />(hereinafter called the Mortgagors} in consid r tip~ of the sum of
<br />Forty-nine Thousand Five Hundred and No/200-----------------------Dollars (5 ~+`~,50 0 }
<br />loaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATfON of Omaha,
<br />Nebraska, {hereinaRer called "Commercial"}, its successors and assrgns, the following described rest estate, situated in the County of,
<br />Hall State of Nebraska, to-wit:
<br />Lot Three C3? in Bartelt Subdivision, of part of Lots 7, 15, 16, 17 and 18 of the County
<br />Subdivision of part of the South Half of Section 5, Toaaship 9, North, Range 9 West of the
<br />6th P.K., in the V311age of Doniphan, Hall County, Nebraska;
<br />TO NAVE AND TO HOLD THE SAME, with the appurtarances thereunto belonging, unto Commercial, its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Commercial. its successors and assigns, that PAortgagors are lawfully seized of said premises, that
<br />they are free iron encumbrances, and that they will forever warrant and defend the title to said premises against the lawful claims of ail persons
<br />whomsoever.
<br />Provided, nevertheless, these presents are upon the following conditions:
<br />That whereas ttre said Mortgagors as members of Commercial have this date executed a rote evidencing such loan and agreeing to repay said
<br />sum pf money, with interest, in payments as set forth in said note and have agreed ro abide by the terms of said note and Charter and Bylaws of
<br />Commerciat.
<br />That whereas this mortgage shall secure any additional advances, with interest, which may, at the option of Commercial, be made 6y Com-
<br />mercial tp the undersigned Mortgagors or their successors in bile 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 severed by this mortgage, being the amount due at any time on said
<br />original note and any additionat advances made, exceed an amount equaE to 110 percent of the amount of the original note, but in no event shall
<br />said note ex;.eed the maximum amount permitted by law, and PROVIDED, HOWEVER, that nothing herein contained shalt be considered as limiting
<br />the amount that shall be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage.
<br />Mow, if the said Mortgagors shad pay or cause to be paid the said sums of money when due, as set forth in said note, and any other note for
<br />additionat advances made until sai6 debt is fully said with interest, then these presents shall be void; otherwise, to rte and remain in tuft force and
<br />effect; but if default should be made:
<br />{a7 to anY of the payments due on said note, and any other note for additional advances made, as therein agreed to he made for three months, or
<br />tb) to keeping the improvements pn said premises insured against loss bs' reason of fire, lightning, and other hazards included ;n 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 />mertiat the priginal of such policy or policies Eo tx held try Commercial, and with a mortgage clause attached to said policy or policies,
<br />in fa~ror pf Commerciat; or
<br />ic) fn the payment of thzes and assessments levied upon card premises, or on this mortgage, before they are delinquent: or
<br />(d) If there is arty change in the ownership of the real estate mortgaged herein, by sale, either outright or try land contract, or b)' assignment of
<br />any interest thereon or otherwise;
<br />that, in arty of the above set-forth events. the whole indebtedness hereby ser.ured shall, at the option of Ca~.mercial. immediately become due and
<br />payable without further notice, and the amount due under said note and any other note for additicnai advances made shall, from the date of the exercise
<br />of said option, treat interest at the maximum legal rate per annum, and this mortgage may then be foreclosed tp satisfy the amount due on said note, and
<br />any other note for additiorat advances, togeher with 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 in no event, either before or after default, shall the interest due under said note and this mortgage and any other note for ad-
<br />ditizrnal advances :node exceed the maximum lawful interest rate. -
<br />PROV(DED, further, that in the event that default owwrs in the making of fire payments dr!e pn said rote. ,: ~d on any other note for additional
<br />advances, as (herein agreed ip be rrgde, or in keeping the premises insured, as aimve provided, pr if default be made in the payment of the taxes
<br />a assessments levied upon the premises above described o; upon this mortgage, before they are bf' taw delinquent, Commercial shalt be entitled
<br />to the immediate possession of the {zenises ahpve-desait>ed, together with ail rents. proceeds and issues arsing ou": ei the premises, anG may
<br />rn its discreliar use the rents so tar as it deems nec?scary for the purpose of making repairs upon th? premises and for the payment of insurance
<br />premiums, saxes afro assessmentr upon surfs premises, and for necessary expenses rnwrred m venting said premises and rntteciing rent there€mm, and
<br />th apply same an said note acrd any notes evidencing futJre advances hereunder unfit the indebtedness severed ss toffy paid: and for such p!~rposes,
<br />}re arndersigned does heretry sell, assign. set per acrd trarsfer unto Cpmmereiai nit of said rent;, proceeds and incomes ine!uding arp land ppntract
<br />payments due roottgage owners ar any piper rncomes pt any type whatsoever from said property to Ere applied on ffie notes atwve-desc«bed; but said
<br />Cammerciatsha~lrn>m rase be liable for the failure to procure tenants, to collect rents, or #p prosearte aciiors to rerpver possession of said premises.
<br />The Mortgagors further appo~ni Commerciat of Omaha, Nebraska, !hear attorney in fact, giving card attorney power i«evocably, either on its own
<br />name w kfortgagors' na es io fake all necessary steps for proceedings in court a otherwise. to cause said premises to be vacated, to collect rentals
<br />or other incomes rh;e, and when vacarrt, W relet the same. to make nit ;easnnable repairs and pay taxes out of said rents, pro#its, conhact payments or
<br />inrnmes ark io do aft such things either by its own officers or try other parties duly autherrzed and appointed hY it, as its agent for said purpose, and
<br />to Charge a pay a reasonable fee for such sernces, aft of the alcove tp be done at such times and in such manner and on such terms as to their said
<br />attnnrey may coact best, with tuts power pf substitutipn-
<br />The Abttgagnrs heretw agree that rf Commerciat either mluntanly pr invalpntarily becomes or ~s made a carry to any suitor proceeding rotating
<br />tp the hereiabetpre described real estate, or w this ;norigage ar said note or notes, other than a toreclpsure instrhrted by Cpmmercral, Mortgagors will
<br />ceitatfNSe wtnrmereiai for at1 reasmabte cysts inverted by Commercial in said sent or proceeding. The Mortgagors further agree that +f the hereinbefine
<br />described real estate or any part thereof be caMemnet7 under the power of eminent domain, or is otherwise acquired fpr a public use, the damages
<br />awarded; the proceeds fpr Ere taking, and far the considerataa~ for surfi acqursiticn to the extent of fire furl amount of the remaining unpaid indebted-
<br />- Hess seared by this mortgage, he, acrd ttsey hereby are. assigned io Canrmercial and shall be paid forthwith to Commerciat to be applied on account of
<br />dte fast mabrring installments -0f smr3r indebtedness.
<br />~thd dris Z fg~ da o ~y , 1S3.9-.
<br />fN rti>_ PResENC~ ns/:- /~
<br />T Doyle Vhaley
<br />r? ,
<br />Clara flare fiha].ey
<br />STATE OFIfFBRASKA
<br />CtJUIITY OE >3t~iFi. ".
<br />Oa ~5 _ ~ 'Sr day of _..1lay , t979 , t>Afore toe, a notary yobbo rn and for said County, personally tame
<br />the at>oire;nanied
<br />Dggle H. ithet7.by afro Clara tae Whaley, Husband and Wife,
<br />he idenGcai person or persons whose name is or names are affixed tp the above mortgage as grantor cr grantors and they, he
<br />[ ~ irument and the execution thereof, to be !heir voluntary act and dead.
<br />^d-oar ta=t aave writ+ea. ~ ~ /~ra
<br />Ar~y !7l Meter; Public
<br />My commission expires on the Z 5'~'~ day of S T 19 ___. ill 50
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