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79---' (;(}i;~~4 EXPANDABLE MORTGAGE
<br />ASSIGNMENT OF RENTS Loar. tie.__u9425-3 __-_
<br />KNOW ALL MEN RY THESE PRESENTS: That George R. Medbery acid. Marsha Medbery, husban and fe
<br />(hereinafter called the Mcrtgagorsl !n consideration o~~fte sum of
<br />Thirty-Four Thousand and NOj100------------------------------------0ollars(S--3u,000.00--)
<br />loaned to Mortgagors, do horebyy grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAUiNGS AND LOAN ASSOCIATION of Omaha.
<br />Nebraska, (hereinafter called "Commeraal"), its successors and assigns, the following described real estate, situated in the County oi,
<br />Hall State of Nebraska, to-wit:
<br />LOT SEVENTY-FIVE (75), LE HEIGHTS FOURTH SUBDIVISION,
<br />IN HALL COUPtTY, NERRASNA
<br />TO NAVE AND TO HOLD THE SAtAE. with the appurtenances thereunto belonging, unto Commercial, its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Co,-e,erua! is successors and assigns, that Mortgagors are !awfully seree ~! said premises that
<br />they are frze from encumbrances, and that thzy ~+,!! iarecer v,arrani and defend the title to said premises against the lawful claims of aIi persons
<br />whomsoever.
<br />Provided, never6reless, these preser.is are upon the fe !on~ng ccndihens:
<br />Thai whereas the said Mortgagors as me:~6ers of Con-eraa- have this date executed 2 note evidencing such :oar. and agreeing to repay said
<br />sum of money, with interest, in payments as set `girth :^ cart na!e one nave agreed to abide by the terms of said note znd Charier and By-taws of
<br />Commercial.
<br />That whereas this mortgage shall secure arty adds?~c~,a' a[;anczs. wiL1 interest, which may. at the option cf Ccrmeraal, be made by Ccm
<br />me;c!aI to the undersigned Mortgagors dr J;eR succzsssa ~ ~ t~,t'~,e rc, any purpose, at any time before the ie!ease and cancellahdn of this mortgage,
<br />twt PROVIDED. HOWEVER. at ne time shai! die aggregate ;: no.pa! amount secured by this mortgage. being the amount d_o at any time on said
<br />original note and any additional advances made- exreH7 an amount equal to tl percent cf the amount of the orig+na! note. Gut in no event shall
<br />said note exceed the maximum amount per-ratted Gy Ica and PR'vV!DED HOWEVER that nothing herein oontaed shall be considered as limiting
<br />the amount that shat! be secured hereby when advanczd to pretzci the seccr!ty er in accordance-with covenants contained in the mortgage.
<br />Now. !t the said Mortgagors shall pay or cause to be ~: z said sums d` -~ aney w';er, due as set faith m sa:d note. and any other note for
<br />•~c
<br />_..... ___: _w.__,.__ _...~.. _.,,:i ,...:w w.,~,+ .~ a.,ii„ .,-.n .~.,,~. ._, ~o•~c~ «.a., w,ccc r..oca:. rc c«,!'. tin ,,.,.n. nlFar u:ca ~.- 5e ~M :amain ,n f,ril inrrn ~n:r
<br />awwunm auvmacn r;auc won coin oar: ~ u=~,- rc~~, ..-~ .,-- ::~~., -.. ~.. ;,...,...-„ ............. ... ... .........., :..,.. ,.. ....., ... .... .,,. ,...... ,..,,,
<br />effect: but if default should be made;
<br />!ar In any of the payments due on said note- ant any other note for add"m~ia! advances m2de as Meie:n agreed to be made for three months. or
<br />r
<br />rb, !n keeping ilia improvements on s;id premises .nsurec aga~cr ass by ~eas_~~ c `::e '~ghtn:rag acd corer hazards included in extended
<br />coveraga insurance m an amount net less Loan the unpaid balanre of sa•c -r•igagz pan „: czccam :r campames acrzptab!e to Com-
<br />mertiai, the angina; ci such policy ar ~ncies to De-hz!d Gv Co~^-z~aa one w-ih a -sT:gage ;-a_sa attarheo to said policy or po!aies,
<br />ir. favor of Commercial; ar
<br />lc; !n tine payment of taxes and assessments levied upon s_... , ---sec. c - _ ~ _~fgage e+c z f^ - e deimi;ceat r.
<br />~,di !f there a any change in the ownership cf the real as ate r:-rtgago ~e.e:r, av sae -:. r ght ,.' `*r ar contract. o: by assignment of
<br />any interest thereon er otherwise:
<br />then, in airy of Lhe above set-forth events, 'he whole indebtedness nFreby secret sba ai Mz d.?:cn :•: a"mercal.:-imeGia,ely i>ecome due and
<br />payable w!toout furfier notice, and the amount due under said note ana any other note fog admtona~ advances reade shall from Nz date of the exeruse
<br />of said option, bear interest at the maximum legal rate pet annur . ar,d dais mortgage m'c-y then be `e:ec~dsed a satisfy the amount due cn said note, and
<br />any other note .ror adddional advances, together with all sums pzid by tacmzrna fo: !nsUra-ice ;axes. assessments and abstract extensmn charges.
<br />with interest thereon from the date afi payment ai the maximum legal ra?e.
<br />PROVIDED that m ne event. either before er after default, sha! the intz?es: due ;,end>; said note and :n,s mdr?gage and any other note for atl-
<br />ditrona! advances made exceed the maximum lawful interest rate.
<br />PROVIDED. further, that :n the ?Vent that defaL'!t UtCGrS in ~° n:-acing cf the pap:aenG tlee on sac nc:e. and on any other note ter additional
<br />advances. as therein agreed ie t>e made. cr in Keeping the pre-,szs ins red, as atioae prcv:eed c. f oe`auii ~ 'r.ade in the payment of thz Loxes
<br />~; asszssmen?s !zv!ed u;n;n the premises above described dr u^~}n Ih~s mortgage; Geforz ihzy are .by ia;: delmgce~-: ;,ommercia! shall br entitled
<br />to the immediate possession of thz premises abew-cesaibzd, Together with ail ren?;. droceeds and asWes ans:r,g du? df thz premises. ana may
<br />in its discreticr, use the ren+s sc tar as if deems necessary for the purpose of making repairs cron the premises and for foe payment of insurance
<br />przmiums. taxes and assessments upon such premises, and for necessary expenses incured in renting said premises znC coi!ert:ng rent therefrom, and
<br />to apply same ar, said note and any notes evidencing future adti~ances hereunder until the indebtedness secured !s fully paid: and ter such ourposes,
<br />the unC-arsigr~ed does "eieUy set:. assign. set over and rooster unto Gammercia! ail of said ants. p acee.s aird tote^es inc!uCiog any !and contrac!
<br />payments tze mo:t~ge owners or any other incemzs cf any type whatsoever from said property ?c be app::=~~ e:: the notes above-described; hit said
<br />CaTmereia! sbai„n ne case be !!able f,r the failure to procurz tenants, te. collect rents. ar to prasetute acLcns !a rzcover pessess~on e' said premises.
<br />The Marigagats twthe: app~smt Commercial cf Omaha. Nebraska, their attorney m fait g+vmg said aftdmey power irreverab!y, either ar, its awn
<br />name ar #tartgagcrs' na+r,es to lake aH necessary steps ter proceedings in court ar ainerwise t ause ;a d pre^!ses b ae vacated. tc ro!ierf renr2ls
<br />ar other inLdfaeS due. and When vacant, t0 relet the Same. i~~ make all :eaS~nab;e repa!rS and pay 'axes out o! Slid ren?S. prefit5- rOn L-dGt paymen t5 or
<br />incomes and td dd al! such things either by its own a!4cers or try cthzr parties duly a.•mc:,zed and app~~+nted by a as is agent for said purpose- and
<br />td charge ar ~y a reasonable fee ter such serwces. a! at the ause t^ be Done a? such b :es and in sou" manner and oa _=uch terms as !o their said
<br />attomev may seer;. best. with full Hower of s.hsGGibon
<br />The tAortgagors hereby a~ee that i' Car;m~~rc!ai ether ~.-,!;uni;n?y o: in~d-untaniy 5?cam.es sr ~.s Tade a psry io eny su,? or proceed!ng re;aLng
<br />ie the he:einbefore described real esla:e :; to ri~s'nxigage ~, sa-~ to ~ n~.as ~tner tna° a `= - Hsu;e .nst i;t?d by L °~err~ei, Mortgagors w!.!
<br />rerm~rse Cammercral for al! reas;nr i!z costs .`loaned vy Gemr.,eraa: ,n card stet cr ~•nceetlrng. The r.'-eagagcrs further agrze that ,f the herembefore
<br />described rent estate or any part taerzor be cones:;.aed under the power of eiment do^ain. or ~s.ctt,erw ,e acquire? ter z public use. Lhe damages
<br />awarded, the proceeds for Lhz taking- and far Ne ~ens,dcratix far such argoisitra; to the extent of ?he !uN amount cf the rema~nmg unpaid indebted-
<br />ness secumtl try Lhis mtrtgv.ge. be and they heretry are assigned to Cammema! and ;nalr be paid ford;with to Cd-mercia+ is be applied on accmm[ of
<br />Erie last,:aTLrerg instaliA_nts of suN; rode 'ed..ess
<br />Dated thts~-day of _ . ;9 ~ ,r'0 /~ ~ -
<br />ru roc oacccwrc nc. ~-~-:~. ~"'-~,~ ~i '~~ *~!~, ~~ %' ~'
<br />STATE OFNEBRASKA
<br />Georgd R. Medbery - _-- ~ _
<br />j~:,CI~CllLf~ ~' ~~ ,
<br />Marsha Medbery~t~~~~ / -
<br />COUNTY OF Hall ss. -
<br />D,t this _-_- day of 19~
<br />the above-names
<br />George R. Medbe and Marsha Medbery,
<br />before me, a notary public in and ter said County. personally one
<br />husband and wife
<br />to me well known th be the identitzi person or persons whose name is or namzs are affixed to the abrJe mortgage as grant^_.r ar gran?ois and they. he
<br />or she, severaNy adenawledge the said instrument and the execution thereof, to ce their voluntary act and deeC.
<br />WITNESS my hand and Notarial Sea! this day and year lac ve ~ ~ ~~ -~~ ~`~ L1~ 6~'~ ~ '~~
<br />W - "~'~+/
<br />iVd tarn PuGli(
<br />MY cdmmrssron expires on the ~~ day of `__ 19~. M 50
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