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CORRECTIVE MORTGAGE
<br />EXPANDABLE MOR'T'GAGE
<br />7y""li(13450 ASSIGNMENTCiFRENTS LoantJo...82~283-4 ___
<br />KNOW ALL MEN BY THESE PRESENTS: That Harold V. Davis and Linda N. Davis , husband and wife
<br />Sixty-Four Thousand Seven Hundred and NO/100__~hereinafter called the Morigagorsl in consideration of the sum of
<br />- Dollars t$--64,700.00--j
<br />loaned to Mortgagors, do hereby grant, bargain, sell 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 ttte County of,
<br />Hall State of Nebraska, to-wit:
<br />L,ot Thirty-Four (34) Wesrern Heights Third Subdivision,
<br />Hall County, Nebraska
<br />TO HAVE AND TO HOLD THE FAME. wiN the appurtenances thereunla belonging, unto Commernal, its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Canmercial. its successors and assgns, that Martgagors are lawfully seized of said premises, that
<br />they are free from encumbrances. and that they w!tl forever ,vacant and defend the title to said premises against the lawful claims of ail persons
<br />whomsoever.
<br />Provided. nevertheless. Nose presents are upon the for!„rang ceaditions:
<br />That whereas the said Mortgagors as members of Commercial have this date executed a note e:adenang such :can and agreeing to repay said
<br />sum of money, with interest. !n payments as set forth in said note and have agreed to abide trv the ter. of said note and Charter and By-Laws of
<br />Commeraal.
<br />That whereas this mortgage shall secure any add~honal advances. with interest. which may- at the opbcn of Cammercial, be made by Com-
<br />mercia; to the undersigned f.9artgagors or their successors in title for any purpose. at any time before the releasz and cancellation cf this mortgage,
<br />but PROVIDED. HOWEVER. at r.a time shall the aggrega±e 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 llu percent of the amount of the original note. Cut in ne event shall
<br />sacd note exceed the maximum amount permitted br law. and PROVIDED. HOWEVER. Nat nothing herein coniaiaed shall be considered as limiting
<br />the amount Nat shall be secured hereby when advanced is protect the secuniy ar in accordancz w;th covenants camained m the mortgage.
<br />Now. rf the said Mortgagors snail pay or cause tc be pa!d the said sums of Honey when cue. as set forth ~n said note, and any oNer note for
<br />addit~ona! advances a;ade unol said debt is fully paid w:N interest. then These eresents shat' be vo;d: otherwise, to be and remain rn full force 2nd
<br />o'. tar;` hit ,f Aafa„i+ chni,lA tin runa~
<br />a! In any of the payments due on said note. and any other Hale for add~hena advances ^ade, as thzrem agreed to be made for three months, ar
<br />.p: In Keeping the improvements on said premises msure7 against '~oss by .easan of Tiro- ~,ghinmg, and other hazards included m extended
<br />ccvera~ insurance .n an amount not less than the unpaid balance of card mari~ge loan. in a company or companies acceptable to Com-
<br />m<_rc+al. Ne ong,nal of such pobcy or rotrc~es to rx hz'd by Co, ~~eraa'~ and wan a .-ortgage clause coached to said policy or policies.
<br />in favor of Cammercia!: dr
<br />c' In the payment of fazes and asszs-e.^. is !?v~ec ar ~ sa a s °T~~ses, e _. ,..., -^rigage. Cercre ~ ey arz det:nquent: ar
<br />rd~ If Nere is any change in Ne awr.ersh~p of thz real estate -zrtgaged herein by save ether outright or d}• !and contract, or by assignment of
<br />env ,merest thereon or nNenvisz:
<br />Nen, m arty of the above set-forth even;;, the who!z :ntlebtedress Hereby s2a•red shad- at the apGan. of Cc~nmercial, immediately hecomz due and
<br />payable wiNout further notice. and Ne amount due ender sa,c ante and any ether note fo; additorar advances ,Wade shalt. from the date of the exercise
<br />of sa~tl opbor,. bear interest at the maximum :egar rate per armure and tn~s mortgage Tay ~ en ~ foreciasetl to satisfy the ardent due on said note. and
<br />any other rrote for additional advances, togeb;er w,N a,. sues aa~d by Cam?;erc+ai far wsu:ancz vexes, assessmzr±ts and abstract extenswn charges.
<br />waN interest thereon from Ne date of payment at the Tax:run ~egz :atz-
<br />PROVIDED that in no event, e~Ner before ar afizr defau : shay:; the :,aerest due under said Hate and ih~s mortgage and any other note for ad-
<br />dihona! advances made exceed the max:Tmr lawful :merest :ate.
<br />.t,
<br />PROVIDED. fL•r+iner. Brat in Nz went Net dzfau+i :-...s ~n m- °aa;ng cf *;z payr._zna duz cn sold aetz. and an any oche; note for atlditionai
<br />advances, as therein agreed to he made, ~r in ' ee rig r _ s r~s,rzd as aatve ; roa--~=~- r f dzio,-t w -ado n the payment ai Ne taxes
<br />ar assessrterts !zred .,non me p'z-sec ~c2ae ~_s_ .... ~ .:nth ~ gz hz _ . ;^e; t M; lave _ ~__ t, C~rrmesuat shall De enGi+ed
<br />;he msed~ate possesrca a` r1z p•eTises ab_.2 des~^ Sri t_a t: v ,f _ .-n , . __zeCS are ssu, s . ;sing out cf the premises, and may
<br />~r. its d _cz:~e~ .,se the r?His s. -ar as +. ___ •s .._czssa'y ro' the ,a.,,se -_` -a,, e .,cars .~ 'tee crem~ses and fo~ the eayment of insurance
<br />e . msc taxis and asszssmzr?ts upon seen pre:_~ses and ! , n _zssary ex~._: ,e> :r•_,, zd ~ ran : s said pre~.~szs and collecting rent thzrzfrem, and
<br />to apply same an sa~tl rote and any ndtzs ev,darurg future aaaances nzrzumder unt e?e oczdtedness secured is [uliy paid; and for such purposes,
<br />Nz undzrs~gneo ones hereby soli., ass:gr. set rrcr and ansfzr sntr, C-:--zrc•_ _-- _' s?,a '_._ .ends a.^.d inc, zs me ud;^ anv lard coot
<br />n m „g 'aEt
<br />pavmznts ~>! e r.;drtcege dwnzrs o; ary ot*.a• rn,, ., s ~- my type w^atsaz `e ` _~~sa _ _ _ : .; .,z ap,~ec . Nz netts above d=scribed: but card
<br />Comrrzrc~a! sha i tr n cast be !'ab.°_ `er Ne fai!urz t1 ,'=ere .enar:u i_ __ ~.. _: ,c ._ ~.ae ._ ,..:.a.., a ~ecovzr possession of said premises.
<br />T`re ;J,e:tgagcrs further a~~ nt Cdam,erual cf Omaha. Nebras~a inz+~ at;;; nz ~ , ~t gv rig sage atimney pewzr ~rrevacabiy. erNer on its own
<br />name or Mortgagors' names to take a!! necessary steps for p:oceedu:gs cr open ~r oarern~se s cause sa+d prz:^;ses id be vacated. to collect rentals
<br />or aNer rncomzs due. ono vine^, va;,3 re!et'1r >a 2. (e ~a e ea, e „a; , , out or sa,d rents. prehts, contract payments or
<br />mooT:es and is de al such ti~•ngs a Ner by its own off corn c ~y ., _• .a , ,s ,u p ~ '" , an a;,~._m[zd by ~t as is agent for said purpdsz. and
<br />td charge o: pay a seasana9;e fee for soon services. ail ;f the aDCSZ :~. a2 d~r,z at ;ucb `..ezs and m such m2nner and do such terms as io Nerr said
<br />attorney -ay se>„~ bzst w N ft:~; ,powzr of subsh:ut:dn-
<br />Thz Morgagos ae eby agree ^ uo . _ e r!+.r i r ~ 2 . , ~ .. _, s e a ;,arty tr any suit dr crcceed~ng rzlating
<br />} the t;ereinbz r esc .her, za es M s sage r s s ~ h a ` e su ~s Ltze by Camrrerciai Mortgagors will
<br />reimbursz t,o^:,..erc.a; i„r a; ,,ssr._.•z ass ,ee„ .e.: ;,. Go .a_ 4 - s_ . >~... ~_:,. r:~ igag-.s iurthe; ag•ee 3~at if Ne herembeiare
<br />described rte: esLte ar an. 3art "rerecf x ^r ,~± uade- :hz pcnF r _ ..er. ,,r ;*~.eru.sz a~pc~rw fs- ~ a 5re use the damages
<br />awzrded. Ne proceeds roc the Lie.ng. and fx me wrs;deratdr :- s ~.ct, -:s~~~ a: ~ hz ,z._V hz !-u'~ ~ - u t ~~: t*e rq a,rrng unpa.a mdebted~
<br />Hess secured ~y t.,s no sags. be an Ne• ne:zby arz. ass~~!ed Ca-. R _:~. a,d sr'a : ~ .aid ...:.. ,- e=c. _: F hz applizd on acrourt df
<br />N=_ fast mai<r,n ~nsta'tm s o' su-n rid eoness.
<br />Dated this ~_ 'raY ~? ~ ..9 ~. ,t ~ 1 j
<br />•_ + ~' t
<br />.4~ i! w ..
<br />IN THE PRESENCE OF. ~~~.~~ _~~_-__--- --------_-,-
<br />/~ Ci \ (~ . ~ _~ Ha l'd~~,iDa~v~s J~~
<br />Linda N. Davis
<br />STATE OF NEBRASKA
<br />ss.
<br />COUNTY OF HALL
<br />On this _pZ~__ day of __-4'~---
<br />Lhe above-namal
<br />?'J~~ before roe, a notary pu6he in and for said County. personally came
<br />Harold V. Davis and Linda H. Davis, husband and wife
<br />to me well known to to the identical person or persons whose namz is or ~amzs are affixed to the above mortgage as grantor or grantors and (hey. hz
<br />or she, severally adkoowtedge the said instrument and the execution Neredf, to ~ their voluntary act and deed.
<br />SEN€AN. NOTAiT • Sub d t4~br.
<br />WITNESS my hand and Notarial Seal Nis day and year si at{~4W1lIQtJ• wEDHEFlC
<br />Mi CAm1G. Pap. Da. 17. 1979 ~~~~'c'~_~-"-_,~~-_ _..
<br />,,,~ ~`~7'~~'` tJota rr PpbhC
<br />My commission zxpires an Ne ~ ~ _. day of __d.~s..t-. 19 ~ -.
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