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75 EXPANDABLE MORTGAGE
<br />ASSIGNMENT OF RENTS Loan No. _82136~_3____-
<br />KNOW ALL MEN BY THESE PRESENTS: That Donald F. Wolfe and Jeanne M. Wolfe, husband and wife
<br />(hereinafter called the Mortgagors) in consideration of the sum of
<br />Thirty-Five Thorisand Nine Hundred and NO/100--------------------- Dollars (3 --35 900.00--)
<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 the County oi,
<br />Hall State of Nebraska, to~wit:
<br />The Easterly Fift_v Four (54) Feet of Lot One (1) in Block
<br />Txo (2) of Gladstone Place, an Addition to the City of
<br />Grand Island, Hall County, Nebraska
<br />TO HAVE AND TO HOLD THE SAME. with the appurtenances thereunto belonging, unto Commercial. its successors and assigns, forever.
<br />Sard Mortgagors hereby covenant with said Commercial, its successors and assigns. that 61dr(gagdrs 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 !awful claims of alt 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 Ivan and agreeing to repay said
<br />sum of money. with interest, m payments as set forth in said note and have agreed (c abide dy the terms of said note and Charter and By-Laws of
<br />Commercial.
<br />That whereas this mortgage shall s?cure any atldihonal advances. with interest which may. at the optien of Commercial. be made 6y Com-
<br />mercial to the undersigned Mortgagors or (heir successors in title for any purpose. of any time before the release and cancellation of this mortgage.
<br />art PROVIDED. HOWEVER. a± no time shat! the aggregate principal amount secured ~' this mortgage, being the amount due at any time on said
<br />original note and any additional advances made. exceed an amount equal to 1:C percent of the amount of the original note, but m no event shall
<br />said note exceed the maximum amount permitted by taw. and PROVIDED, HOWEVER. Thal nothir:g herein coniainetl shall he considered as limiting
<br />the amount that shall be secured 'nor?by when advanced to protect the security or m accordance with covenants contained in the mortgage.
<br />Now, if the said Mortgagors shah pay or cause to be paid the said sums of -eney when due. as set forth in ;aid note, and any other note for
<br />additions! advances made until said debt is fully paid with interest, then these presents shall 6e void: otherwise, td be and remain in full force and
<br />affect. . if ddfautt should tti made.
<br />(a? In any of the payments due on said note, and any other note for addihdnaJ advances made, as therein agreed to be made for three mon!h^ or
<br />tGl In keeping the improvements on said premises insured against loss 6y reason of fire, lightning, and other hazards included in extended
<br />average insurance in an amount not less than the unpaid balance df said mortgage loan. in a company er companies acceptable to Com-
<br />mercial, the original of such policy er policies ie be held by Cemmerciai, and with a mortgage clause attached to said policy or policies,
<br />m favor of Commercial: or
<br />tc) in the payment of faxes and assessments levied upon said premises, or cn this imrrtgage, before they are delinquent; or
<br />'dl If there is any change in the ownership of the real estate mortgaged herein, by sale. either outright or by land contract, or by assignment of
<br />env interest thereon or otherwise:
<br />Gf~r, in any of the above set-forth events. the whole mdeb±edness hereby secured shall. ar the option of Commercial, immediately become due and
<br />payable without further notice, and the amount nue under said note and any other note for additonai advances made ;hair, hom ttie date of the exercise
<br />of said optien. bear interest at the maximum legal rata per annum. and this mortgage may then 6e foreclosed Ic sabsy the amount due on said note, and
<br />any other note ter additional advances. together with all sums paid by Commercial far insurance. taxes, assessments acrd abs?roc; axtenron charges,
<br />with interest thereon'rom the date df payment at the maximum legal rate-
<br />PROVIDED that in no event. Zither before or after default. shalt the interest due under said note and ibis mortgage and any other note fur ad-
<br />dRiona! advances made exceed the maximum lawfulinterestrale-
<br />PROVIDED, further, that in the event ±hat default occur; in the making of the payments due on said note, and en any other note for atldihonal
<br />advances. as therein agreed be he made, or in keeping the premises ,nsured. as above provided. cr :f default be made :n the payment of the taxes
<br />or asses~enis levied open the premises above described er unen fits mortgage. before !hey are by taw deticqu?mt- Cemmernal shall ba entitled
<br />td the smmeniate possession di the premises above-described. together 'with all rents- proceeds and issuds ansr•_ but df the premises, and may
<br />m its d,saet;on use the rents so far as it deem; necessary fdr the purpose c. making repays uc~n me ciemiszs and for the payment dt insurance
<br />prey: toms. taxes and assessments upon ouch premises, acrd fdr necessary expenses snared in renting said pry-;ses and collecting rent therefrom, and
<br />to apply same do said nose and any no±es evidencing future advances here;;nder until the indebtedness secured is fully paid: and ter such purposes.
<br />the undersigned does hereby soli assign- set over and transfer oat CG"Rerrral a±! of c_aid ;enc. ,rdceeds and ;ncdmes mc:utling any ;and cdniradt
<br />,avrresits tl'.,e m-drigage owners or any ot*.e~ ncdr^es • r; 'ry,,e w a ~:;e>-e sa d r ,Fe rti rc de applied un the neles above-desrined; p;t said
<br />,a~~.memal sbai+in nd case be .able fir the failure to „ „_~.e ten,. s. t.~ Cd sec, eats o ,. setut. a_.idns to recover possession of said premises.
<br />The r,',drtgagms turiher appoint Cd~.~merciai of Omaha, Naarasa their atiemey in `act. g,ving said attorney power irrevocably. either cn its own
<br />name ar 0.!ortga~rs' names fo to;<_ ail necessary steps ter ;roceedings in court ar aiharwise to cause saiC premises Ic be vacated, td collect rentals
<br />w other hcomes due. an6 when vacan± to reset the sa-e t sane air rpascna2:re re;a,~s anal pau ;aces o;t of said yen's. profits, contract payments dr
<br />incomes and to dd art such th!ngs ei~ie~ by its own c'+~ces ~r iTv 2~ -r carves av:y aotaorized and app-orated by ,f. as its agent fdr sa;d purpose- and
<br />'o. charge a= pzy a reasonaD=e fee fdr sash services a~, .~~ rte wave to ~ acne at scch '!:nos and m such manner and an such terms as td their said
<br />atidrrtey maC See'' Ite$t. with foil P. w'ar ~f S:l v; t: it': in
<br />T*.e tfdrtgag'.;~s neretly agree >~ar t, rrrc c v ,• w s •- s a z .arty + any swt cr proceed{ng relating
<br />to th=_ here,rbefdre descnbetl yea estate _ t, =his iga,. ; _ _,- .,es ..,he .^ia, a ~~re_!,s, e n;ti,u,et ty Carmerual Mortgagors wi~l
<br />rarmarse C.,: e _{a icy z re s~^,a~:c __ ~_--e . _ .: ;, _ :rn_e., ,g Th ?r„ tgagors further agra2 that it tnz herelabefore
<br />described real estate at any ;,a :he ,_ ode a a : we. r pen, d ; .s oth vise acquires for i n>~
<br />' ~~ e . 1 a sub is use, the _„ ~ ages
<br />awarded. the r^[tFds r^r hr s,ng. a he c a ,r , z. :~ :~ .ne extent ?f a a-~cu'ti of r're remaining unpaid indebted
<br />ness secured ih his °n~rtg ge x an;: cy he eM e .s.r _r -, , e c a acrd she Lk card fo thwit td Co , e.~.a. to ire applied 3r account of
<br />the last reatdr,ng rostaif~.erts cf sorb ,ndebtedness
<br />Da@dthis~ dry -/ %'.'c _____-... .--?Y }
<br />3N THE PP,ESENCE OF: ~ • " '--' _-'--' ^.
<br />' `~; Donald F. Wolfe~ --`-----' r=•--
<br />-- _ _ ~, _
<br />-- ---- Jean' a M. Wolfe --
<br />STATE OF NEBRASKA
<br />COONTY OF Hall ss. -__-.~~- ---
<br />?1`LL _ _ ~y4
<br />On this day of -'-r`J•~~-___-_-_ t /j tafore tyre. a notary ouoiic in and tar said County. Personally came
<br />the above-named
<br />Donald F. Wolfe and Jeanne M. Wolfe, husband and wife
<br />to me we'.! it; - ~ the •a~rr^,t .,a+~nn „r ^„~~„~, wt,nco ,,,m, is nr name are affixed to the atiave mortQaee as ,ranter cr granhars and iheyr{ie
<br />~~ ^ _ ~ jy~ said instnament~and the execution thereof, id ~ they :eluntary act and Ce ~ /
<br />i ,
<br />tip/xlml~e~~ this day and year last above wntten. ~ ' C
<br />My commission expires on the __ _day of S-T _ , ty ~ p~-~,p
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