|
~9° (j(l~c~U~ EXPANDABLE MOF2,`I'GAGE 820286-8
<br />ASSIGNMENT OF RENTS Loan Np.
<br />KNOW ALL MEN BY THESE PRESENTS: That Francis F. STeffes and Linda L. Steffes, husband and wife
<br />(hereinafter Called the Mortgagors} in consideration of the sum of
<br />Thirty-Five Thousand Nine Hundred and NO/100------------------ - Doiiars(5--35 900.00--}
<br />loaned to Mortgagors, do herebyy grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOGIA~ION of Omaha,
<br />Nebraska, (hereinafter called "Commercial"), its successors and assigns, the following described real estate, situated in the County af,
<br />Hall State of Nebraska, to-wit:
<br />Lot Twelve (12), in Block One (1), in Moves First Addition
<br />to the city of Grand Islan3, Hall County, Nebraska.
<br />TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns, forever.
<br />_ Said Mortgagors hereby covenant with said Commercial, its successors and assigns. that Mortgagors 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 aIi 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 terms of said note and Charter and By-Laws of
<br />Commercial.
<br />That whereas th!s mortgage shall secure any additional advances, with interest, which may, at the option of Commercial, be made by Com-
<br />menial to the undersigned Mortgagors or their successors in title for any purpose, at any time before the release and cancellation of this mortgage,
<br />but PROVIDED. HOWES'ER, at no time shall the aggregate principal 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 amount of the original note, but 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 be secured hereby when advanced to Drotect the security or in arcordance with covenants contained in the mortgage.
<br />Now, if the said Mortgagors shaft pay or cause to be paid the said sums of money when due, as set forth in sa!d 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; cwt ifi default should be made:
<br />€ tai !n 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
<br />tb? In keeping the improvements on said premises insured against loss by reason of fire, lightning, and other hazards included in extended
<br />[overage insurance in an amount not less than the unpard balance of said mirigage loan, in a company er tompames acceptable to Com-
<br />mercia!, the original of such policy or policies to be held by Commercial, and with a mortgage clause attached to said policy or policies,
<br />in favor of Commercial; dr
<br />(ci In the payment of taxes and assessments levied upon said premises, or on this mortgage, before they are delinquent: or
<br />Idi If there is any change in the ownership of the real es',ate mortgaged herein, by sale, either putngM pr by land contract. or try ass!gnment of
<br />any interest thereon or otherwise;
<br />then, in any pf the above set-forth events, the whole indebtedness hereby secured shall, at the option of Commercial. ;r,;r;,ediately become due and
<br />payah!e without further notice, and the amount due under said note and any other note for additional advances made shat!, from the date of the exercise
<br />pf said option, bear interest at the maximum legal rate per annum, and this mortgage may then be foreclosed to satisfy the amount due pn said note, and
<br />any other note for additional advances, together with ail sums paid by Commercial for insurance, taxes, assessments and abstract extension charges,
<br />with interest Thereon from the date of payment ai the maximum legal rate.
<br />PROVIDED that in ne event. either before ar after default, shat! the interest due under said note and th!s mortgage and any other note for ad-
<br />diticmai advances made exceed the maximum lawful interest rate.
<br />PROVIDED, further, that in the evar~t Ghat default pt[urs in the making of the payments due an sai;+ npte and art any !flier note for additional
<br />advances, as therein agreed to be made, or in keeping the premises !nsured, as above provided, pr !f Cefa, ; "? made in the payment pt the taxes
<br />or assessments ievi~l upon the premises above described or upon this mortgage, before they are try law del+n;vent. Commercial shat( be entitled
<br />Yp ffie immediate possessipn of the premises above-described, together with alt rents. proceeds and issues ar.sing put of the premises, and may
<br />in its dis[retion use the rents so far as it deems necessary fm the purpose df making repairs upon the premises and for the payment cf insurance
<br />premiums, flares and aswssments upon such premises, and for necessary expenses incurred 'n renting said premises and tolte[Irng ren± Iherefrd::.. and
<br />tp apply same on said note and any notes evidencing tut~!re advances hereunder until the indebteCness seared ![ fully pa,d: and for such purposes,
<br />the undersigned does herefry sell. assign. set Aver and transfer ante Commerua! alt pf card rents. proceeds and irca:mss ~nt!uding any land contract
<br />payments thre mortgage owners or any other incomes of any type wtiatspever from said p!pperty Ip be applied en the notes above-descn+xtl; but said
<br />Cpmme;tiaf shall in no case 9e liable for the fa!!we to procure tenants. tc collect rats, pr to prose[ute atbons m re[over ppssessipn of said premises.
<br />Tfie kbrtgagprs further apppinf Commercial pf Omaha, Nebraska. ttre+r aficmey .n fact, gang said aiterne)~ p>Gwer ~rrevotably, either on its own
<br />name pr Abrtgagors' names to take aI! necessary steps far p;pceed!rgs rn cpurt pr otherwise. to cause said premises ip be vacated. fo collect rentals
<br />or other incomes due, and when, vacant, to relet the same. tp make z ! reasonable repairs and pav fazes out of saiC rents: prdf!ts, tmi?ract payments or
<br />incomes arttf ip 9a af! such things eiL*er by its own dRicers ar py- ether parties duty autho-rized and appc~nted try ~i, as !~ agent for said purpose, and
<br />to charge or flay a reasonable tee for such servttes. ail of the above to be dyne at such times and ~n such r,2nner and on such terms as tp thwr sa±d
<br />a#tomey may seem best. with -rut; ppwer of substitvbpn.
<br />The t~rtgagors hereby agree mat if Corrmeuia! eitii er v[luntar+iy ar ;r,-ve!unLniy trtemes pr ;s made a party t^~ any suitor proceeding relating
<br />to the hereinbefore described real esate. or ip this mortgage or sa!d note or notes r_.d,ar ,^an a torec!o~:re ~nst!2uted G; C,^rnerc~al. !Aortgagors will
<br />reimh:rse Commercial fpr alt reasonable costs inn,rree try Comm?rue: ;n said sui+. cr preceed;ng. The ;,;ortgaeors further agree the! .f the hereinbelore
<br />descriird real estate or any part thereof be [pndemned under the ~ wer of u'm.inent tlc;:zin, pr is vtnerw:se acrluired for a pub'ac use. the damages
<br />awarded, the proceeds for the taking, and fpr the [onsiderat:on fpr sucn acquisitipn ?a the extent pf the ful; amount of the rerrairing unpaid indebted-
<br />ness secured by this rrwrtgage. be, and they heretry are, ass!gned fp Cenmerc~ai and sh~~! be paid forthwith to Commercial tp be applied pn ac[amt of
<br />the Last mafiurngsns+atlments pf sudi indebtedness. rY~
<br />Dated this z~~ day of. ~.~1~ 19_/.Z. ~ff.
<br />UI THE PRESENCE OF: c~ ~
<br />f ~~~,~ ~ Francis F. Stet
<br />,i' ~-
<br />-~, ~~z~/,,~ x'.351-~~e' ~-
<br />T,inda L, Steffes J
<br />STATE OF NEBRASKA
<br />COUNTY OF Hall ss. ,,~~yy~~
<br />On this Zq''s`1f day of ///i17~ _ , 19 ~~before me, a rioter
<br />the above-named y public in and for said County, personally came
<br />Francis F. Steffes and Linda L. Steffes, husband and wife
<br />to me weft knmvn to be the identiat person or persons whose name is or names are affixed to the ahove mortgage as grantor or grantors and they, he
<br />or she, severalty acknowiud~ the said instrument and the execution thereof, to be their voluntary act and deed.
<br />f-!!s!ssttl~ssh .~J-
<br />i~~ap~p~},ji~tar I Seal this day and year last above written. `-Y~:/E/~ ~__~r/~~~,e
<br />Mr Cppn. Ems. Atq. Z6. tYSI / ~'l~ ,-~^.
<br />~/ Notary Public
<br />MY wmmission expires on the ~~~ day ~ , 19 ~". M-50
<br />
|