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79-~ f~c}3~4J EXPANDABLE 1vIOR~'GAGE 8~028~_6
<br />ASSIGNMENT QF RENTS Loan No. ___.-_
<br />KNOW ALL MEN BY THESE PRESENTS: That Michael T. Fox and Pamela S. ; ox, husband and wife
<br />Forty-Five Thousand and NO/100----------------(hereinafter called the Mortgagors) in consideration of the sum of
<br />-`--'---`--'--'-""- Dollars i5--45 000.00-- }
<br />loaned to Mortgagors, do hdreby grant, bargain, sett and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br />Nebraska, (hereinafter called "Commercial"}, its successors and assigns, the following described real estate, situated in the County of,
<br />Hall State of Nebraska, to-wit:
<br />Lot Seven (7) in Block Four (4) ir. Normand_y Estates, an
<br />Addition to the City of Grand Island, Hall County, Nebraska
<br />TO HAVE ANO TO HOLD THE SAME, with the appurteirances thereunto belonging, unto Commercial, its successors znd assigns, forever.
<br />Said Mortgagors hereby covenant with said Gommerciai, its successors and assigns. that Mortgagors are IawiWly seized of said premises, that
<br />they are free from encumbrances. and that they viii! forever warrant and defend the title to said premises against the lawful claims of all persons
<br />whomsoever.
<br />Provided, never{heless. these presents are upon the feilownng conditions:
<br />That whereas the said Mortgagors as members of Commercial have this date executed a note evitl?Wring 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 Bard note and Charter and Bylaws of
<br />Commercial.
<br />That whereas this mortgage shall secure any additional advances, with interest, which may, at the option of Commercial, be ;Wade by Com-
<br />mercial to the undersigned Mortgagors or their successors m title for any purpose, at any time before the release and cancellation of this mortgage,
<br />but PROVIDED. HOWEVER, at nc time shall the aggregate principal amount scour?d by this mortgage, being the amount due at any time an said
<br />original note and any additional advances made, exceed an amount equal in tiG percent of the amount of the ongina! note, but in no event shall
<br />said note exceed the maximum amount permitted by law. and PROVIDED. HOyiEVER, that noth!ng herein tortamed shall be considered as limiting
<br />the amount that shalt be secured hereby when advanced to protect the security or m accordance with covenants contained in the mortgage.
<br />- --
<br />now, it the saw hiorigagers snap pay or cause ie oe paid the said sums or 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. then these presents shall be void: otherxise, to be and remain in full force and
<br />effect; but if default should be made:
<br />fat !n any of the payments due an said note, and ary ether note for addit!onal advances made, as therein agreed to be made for three months, or
<br />(bj In keeping the improvements on said premises insured against lass by reason of fire, iightnmg, and other hazards included m extended
<br />rnverage insurance in an amount not less than ;he unpaid balance of sa;d mortgage loan. in a company or cpmpames adceptable to Com-
<br />mercial, the original of such policy or poiicres in be held try Commeraal- and w+t a mortgage clause attached to said polity or policies.
<br />in flavor of Commercial; or
<br />iLi to the payment of Lzes and assessments levied upon said premi<_es, nr on this mortgage. before they are delinquent: or
<br />idt If there is any change in the ownersh}p of fie real ?state mortgaged herein. thJ sale. either outr;ght ar bs land contract. or by assignment cf
<br />any interest thereon or otherwise:
<br />thrn, in any of the above set-forth events. the whale indebtedn?ss hereby secured shall, at the option of Commercial. in mediately trecome due and
<br />payable withaut further notice, and the amount du>_ under said rote and any other not? for additicnai advances made shall. Prom the date of fhe exercise
<br />of said opuon, bear in#erest at the maximum legal rate per annum, and this mortgage .may then be faretiosed tc satisfy the amount due on saw note, and
<br />arty ether note for additional advances. together with a?I sums paid by Commercia; for insurance. taxes. assessments and abstract extension charges,
<br />wrth rntaest thereon from the date of payment at the maximum legal rate.
<br />PROVIDED that in no event, either before or after default. snarl itre interest are under said note and this mortgage and any other note for atl-
<br />diti~rai advances made exceed the maximum ;awful interest :ate.
<br />PROVIDED. further. that in the event that default occurs !n the raking nP the paymens due an said Wore end en any cbher note for addiunnal
<br />advances. as therein agr?ed to be made. nr .n keeping the pr>rn;see insured, as above prorded, er if default c~ made in the payment of Gre fazes
<br />er assessmentr tevzed open Ire premises above desciitr?d ur upon this *artgzge, before they a;? b`s law' delinquent, Ccmmeruai shalt be ?nutted
<br />tc the rmmediate p,ssessipn of the premises abov?-described- tagether with nit rents. proceeds and issues arising out pf the premises, and may
<br />ra ;s disuei;or, use the revs so far as it rieems necessary for the pt1rD'JSe of making repairs upon the premises and tar the oaym?nt of lnsuranre
<br />prRmwms. '~x~ and asse~smens ! n;n s;;ch premises. a^d ter necessary ezp°<:ses incurred ;n renting card premises and cdttettrng rent in?refrorr:, and
<br />to apply sa*~e an said note and any notes evidencing future advances h?re!!nder uhf+! the indebtedness secured rs foil} pa+d; and for such purposes,
<br />the undersrgned does frereby soil ass+gn, set over and iransrer unto Commeruai nit of saw rents. proceeds and incomes including any land caztract
<br />payments due mortgage owners or any other incomes of any type whatsoever from said property to >>e applied pn the notes above-desuibed; hrrt saw
<br />Comrsercialshaltin;)p ase be irabte #er the failure to prawre terofs. to cal!ect carts, or fo prosecute achpns to recover passessipn o; said premrses.
<br />The Abrtgagars further apppint Commercial of Omaha Nebraska. th?+; attorney an tact, grving saw attprrtey power irrev~cabiy either cn ris awe
<br />name or k~r#~gors' names to take all cecessary steps f,r proceedings in court or otherwise. to cause said premises ?c rR vacated, to collect rentals
<br />or pthet incomes due. and when vacant. io relet the >ame to make a" reasonab!? repairs and pay taxes out of said rents, prefris contract payments or
<br />incomes and to do ail such things either by is own officers cr by other parties duly authorized and appointed fps ;t. as :s ag?nt tar said purpose, and
<br />#a charge er pay a reasonable fee for wch services, zi aP ±h? above is ne done at such `.Imes and in sorb wanner end pn such terns as to their said
<br />atiarorp ;oo`f ;~ hest. with fiti ;ewer of subs'aw'tron.
<br />Tsre Aimtgagers neretry agree fiat !t Commercial eith?r rtltuntarily a. inveiun~r+ly trcomes nr is made a party L a::v s~=i! pr prpt?ed:ng reiatrng
<br />to the berernbefore desttit>ed real estate. or tp this mortgag? or said note er notes. ether than a teretiosur? ~pst:u:t?d ~, Cc~mmertial. Mortgagors vii!!
<br />reimburse fammercial for at1 reasonable casts incurred ty Ctarmerc,al ,n said suit or prciteed:ng. The k§ca~gcrs fur@rer agree that a Lhe nor=inb?tare
<br />described real estate or ary part tuerecf he condemned and?r the power of em!nent domain, or is otherwise aoquireo £c; a pubic us•> Me damages
<br />awarfi€d, the proceeds for the taking, and for the consideration for such acquisition is the ext?nt of the full amgirnt of the re^aising unpaw mdehted-
<br />ness secured tpp this rri4rtgage, be, and They nereoy are, assigned tc Cpmmeraal and shall be ~w forthwith to Commerc<.ai to be applied an account of
<br />the last masrrng instatlme~as of such indebt ss.
<br />Dated tilts rid S- ~i~ day of ~ . 19
<br />tN ENCE OF.
<br />~~Z`C2.(cll~
<br />Michael T. Fox
<br />i
<br />'rte%~'/~ ~~',%- ! :Q-~Y
<br />..=~~
<br />Pama{la S. Fox
<br />STATFDFNFBRAM(A ~-- ~
<br />couNTr of xall ~ ss. ,-~C~?tF(i -%t'~.- ~~ . ~~` ~>~ --
<br />On .this ~ ~ day o{ _ , 19?~ befwe me, a notary {xrblic in and for said County, personalty came
<br />ttw move-named
<br />Michael ?'. Fax and amala S. Fox, husband and wife
<br />tD me weH knoran in he the identlcat person or persons whose Wane is n~~~~p-t6aNirabNebm!ortgage as grantor or grantors and they, he
<br />or she, severalty acknowledge the said instrument and the execution th t, fnppipJup~gB8Rt8rd deed.
<br />uty Comm. Exp. oa. n, r r
<br />WITNESS my hand and Notarial Seal this day and year last above wntten. j' ; /~~ ;' ~ ~ /'
<br />?`~ c~ Notary Public
<br />My commission expires on the ~~ day of ~~-'~*~~__ . !9 ~J. to-50
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