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79-- t;tf;332Ei EXPANDABLE MORTGAGE 49416-4
<br />ASSIGNMENT QF REN75 Loan NG. ___________._____.
<br />KNOW ALL MEN BY THESE PRESENTS: That Loren L. Augustyn and Patricis J. Augustyn, husband and wife
<br />(hereinafter called the Mortgagors) in consideration of the sum of
<br />Sixty-One Thousand Five Hundred and NO/100_______________________ Dollars{5--61 500.00--)
<br />loaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIAfiION of Omaha,
<br />Nebraska, (hereinafter called " ommercral"), its successors and assigns, the following described real estate, situzted in the County ef,
<br />Hall State of Nebraska. to-wit:
<br />LOT ONE (1) R E B SUBDIVISION, HALL COUNTY, NEBRASKA
<br />TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, ante Cemmeri.~al. its successors and assigns. forever.
<br />Said Mortgagors hereby covenant with said Commercral_ ifs successors and assigns, that Mortgagors are lawfully seized of said orem~ses. that
<br />they are free from encumbrances, and that they will forever warrant and defend the title to said premises against the lawful cia~ms ci all aereons
<br />whGm>GeVei.
<br />Provided, nevertheless. these presents are upon the fallowing condibens:
<br />That whereas the said tdortgagors as members of Commercial have this date ezeculed a note ev~dedcing such !Gan and agreeing to repay sa;d
<br />sum or money, with interest, in eayments as set Perth in said note and have agreed to abide by the terms of sa~tl note zrd Charter and C3~y-Laws df
<br />Commercial.
<br />That whereas this mortgage shall secure ar.y additional advances. with interest, which may. zt the Gpbon of Ccros,erc~al be made by Com
<br />menial to the undersigned Mortgagors or their successors in title fdr any purpose. at any time before the release and cancellatian of th+s mortgage.
<br />but PROVIDED. HOWEb'ER. at no time shall the aggregate principal amount secured by this mortgage. being the amount due at any time en said
<br />original ndte and any additional advances made. exceed an amount equal to 110 percent of the amount of the Gng!nal note. but !n no event shall
<br />said note exceed the maximum amdunt permitted by law. and PROVIDED. HOtYEVER, that ncihing t!ere{n contained steal! be cansidered as limiting
<br />the amount that shall tte secured hereby when advanced tG protect the security or in accordance with covenants contained in (he mortgage.
<br />Now, if the said Mortgagors steal! pay or cause to tru paid the said sums of 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; Gther,vise. to be and remain in full force and
<br />effect: but if default should be made:
<br />(a! In any of the payments due Gn said note, and any other note for additional advances made, as therein agreed to be made for three months, or
<br />ib? In keeping the improvements an said premises insured against ions by reason of fire. lightning. and ether hazards included in extended
<br />coverage insurance m an amount not 'ass than the unpaid balance of said mortgage loan, in a company Gr companies acceptable to Com-
<br />mercial. the original Gf such poi~cy cr pGhnes '.d be herd by Commercial, and with a mertgage clause attached to said policy or policies,
<br />m favor of Ccmmerc~a?: ar
<br />to the payment Gf fazes and assess;ner,ts levied uprn sa,c premises. or Gn this mertgage. before they are delinquent: or
<br />+d1 If there is any change rn the ewnersMp of ~ e rear esate mortgaged herein, by sale, either outright or by land contract, or by assignment Gf
<br />2ny interest thereon nr otherwae:
<br />then, rn any Gf the above set-forth events, the vrhole indebtedness hereby secured sha!i at the aphor. of Commercial, immediately become due and
<br />payable without further notice, and the amount due under sam note and any other note for additronal advances made shall, from the date of the exeruse
<br />df said option, bear merest at the maxrmum legal rate per annum. and this mortgage may Caen be foreclosed tc satisfy the amount due on said note. and
<br />ary ether Hate far addi@Gnal advances. together with all sums paid by Commercial for ~nserance. taxes. assessmants and abstract exter,smn charges,
<br />wrth interest thereon from the date of payment at the maximum legal rate.
<br />PROVIDED that m no event, either before cr after default. shat; the interest due under said note and this mertgage and any other note for ad
<br />dibpna! advances made exceed the maximum lawful interest rate.
<br />PROVIDED, further. that in the event that default occurs in the making of the payments due on lair' note. and on any other note for additional
<br />advances- as #herein agreed to be made. or in keeping the premises insured. as above prov~,detl. cr 's defau t c~ -Wade in the payment of the taxes
<br />or assessments levied upan toe premises above desctit>ztl Gr anon this mertgage. before they are by law tlenquer,t. Commercial sh,ail be entii!etl
<br />to the rmmed:ate possession of the premises above-described, together wi!h ail rents. proceeds and issues arising cut Gf the prem~sas, and may
<br />in ±ts drscretiort use the rents so far as it deems necessary for the purpose of making repairs upon the premises and far the payment of insurance
<br />premiums, taxes and assessments upon such premises. and for necessan• excesses incurred in rer.bng said pre~Tises and ceiiecting rent therefrom, aad
<br />tp apply same on said ne±e and a..^.y notes evidencing future adva.^.ces hereunder anal the :ndebfedness secured is fully earl; and for such purposes,
<br />the undersigned does hereby sell. zssign, set over and transfer unit CGmmerua! ail of sa+d rents, proceeds and incomes including any !and contract
<br />payments due mortgage owners cr any other incomes of anyry~pe whatsoever fror,. said ptpperty to be applied on the notes above-described; but said
<br />Cornmeraal shall m no case be Iiabie for the failure to procure tenants. to celled rents or in prosecute actions to recover possession pf said premises.
<br />The Mortgagors further appoint Commercial of maha, Nebraska. their attorney m fact giving said aftcrney power ;rrevocably. either on its own
<br />name or Mortgagor;' names to take alt necessary steps far proceed+ngs in court Gr otherwise. tG cause said premises to be vacated, to collectrenta!s
<br />or other incomes due, and r:hen vacant. tG re!et the sar:;e to mzke air reasonable repairs artl pay fazes out of said rents, profits. contract payments or
<br />incomes and is dp air such Things either by its oxen ;,R+cer Gr `~~ offer parties duly authorized and appointed by it as its agent for said purpose, and
<br />to charge pr pay a reasonable fee ipr such services. a': pf fie abGVe iG b2 done at sprn tames and m such manner and on such terms as tG their sa~tl
<br />attorney may seem best. with full power pf substiatwn.
<br />The ttnrtgagers hereby agree °at if Co; mercral e,i'ner volunarly or ~nvomntarny becomes or is made a party to any suitor proceeding relating
<br />to the herainbefore described real estate. Gr to this mertgage or card note a rotes. other ,ban a fGrec!asure inshti;ted by Commercial. Mmrtgagars volt
<br />reimturse Commernal for all reasonable costs incurred by Commercial in sa~tl sad or prpcaeding_ Tha Mortgagors further agree that if the here~nbefore
<br />tlescribad real estate or any part thereof be conder^ned under the caner pi eminent domain, or is otherwise acquired for a public use, the damages
<br />awarded. the proceeds for the taking, and for the cpnsideraiian fdr such acquis{ton td the extent cf the fail amount of the remaining unpaid indebted
<br />Hess setared 7y this mertgage. be. and Shey hereLry are, assigned fe Commercial and shad ce paid forthwith to Canmerdial to be applied on account Gf
<br />the last maturing installmarts of such indebtedness.
<br />Dates ~5 3D-:£y dzy Gf - /~~~ ty 74.
<br />/ { 1 v _
<br />tN THE PRESENCE OF: a ;~« _• .: ' _ ___.__._---_
<br />~~ ~~ pn-~~,~~ L~ L. Augus~_n
<br />/~~~ Patr~ gust ~~%- -
<br />STATE OF NEBRASKA
<br />ss.
<br />COUNTY OF Hall _ -
<br />On this ~'~/~ day of /~.9Y 19 ~~. before me. a notary public in and for said County. personally came
<br />the abore-named
<br />Loren L. Augustan and Patricia J. Augustyn, husband and xife
<br />to me wed known tG t>e the identical person or persons whose name is or names are affixed tc the above mortgage as grantar or gran ton and thev re
<br />~ aid instrument and the execution thereof. td be their voluntary act and deed. n
<br />~!bi>~Ytatai this day and year Iasi above written. ~ ~f`~ ~~/ l~j
<br />4~.5 ~1~ !~~ .~ ~~ ~ ~p / NGtary n~;l, ,c
<br />My cAmmrssion expires on the _ day of __C7~'G1~ST 1~.?L . M-Sri
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