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79~~1U3726 EXPANDABLE 1dIORTGAGE ASSIGNMENT QF RENTS Loan No. 821387-5 KNOW ALL MEN BY THESE PRESENTS: That Alfred Robert Ray Orrick and Elizabeth Mackie Orrick husband and wife (hereinafter called the Mortgagors) in consideration of tie sum of I ortdy r~e Thou~a~d Thre~ bHundre~ axed NO 100---------------- Dollars ($ --41 300.04--) Dane to ortgagors, o erebyy gran , argarn, se an conve~ unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOClAI'ION of Omaha, Nebraska, (hereinafter called "Commeraal"), its successors and assigns, the following described real estate, situated in the Counfy of, Hall State of Nebraska, to-wit: Lot Two (2) in Block Three (3) in Le Heights Second Subdivision, in Hall County, Nebraska. Being a part of the NW 114 NW 1/4 of Section 11, Township 11 North, Range 10 West of the 6th P.M., Hall County Nebraska TO HAVE AND TO HOLD THEx SAME, with the appurtenances thereunto belonging. unto Commercial. its successors and assigns, forever. Said Mortgagors hereby covenant with said Commercial, its successors and assigns. that Mortgagors are lawfully seized of said premises, that they are lice from eicumbrances, and that they will forever warrant and defend the title to said premises against the lawful claims of zli persons whomsoever. Provided, nevertheless, these presents are upon the following conditions: That whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing to repay said sum cf money, with interest, in payments as set forth in said note and have agreed to abide 6y the terms of said note and Charter and By-Laws of Commercial. That whereas this mortgage shalt secure any additional advances. with +nteresl. which may. at the option of Commercial, be made by Com menial to the undersigned Mortgagors or their successors in title for any purpose. at any time before the release and cancellation of this mortgage, but PROVIDED. HOWEVER, at no time sha{I the aggregate principal amount secured by d+is mortgage, being the amount due at any time on said original note and any additional advances made, exceed an amount equal to i10 percent of the amount of the original note, but in no event shall said note exceed the maximum amount permitted try law, and PROVIDED. HOWEVER. that nothing herein contained shall 6e considered as limiting the amount that shall be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage. Now, if the said Mortgagors shaii pay dr cause to be paid the said sums of money when due, as set forth in said note, and any other note for additional advances made until said debt is fully paid with ;nteresl, then these presents shall be void; otherwise, to be and remain in full force and effect; but if default should be made: (a! In any of the payments due on said note. and any other note for additiena! advances made. as therein agreed tc be made for three months, or b7 In keeping the improvements on said premises insured against loss 6y reason of fire, lightning, and other hazards included in extended coverage insurance in an amount not less than the unpaid balance of said mortgage loan. in a compzny or companies acceptable to Com- merciah the original of such policy or poircies to be held by Commercal. and with a mortgage clause attached to said policy or ooticies, in favror of Commercial: or +cl !n the payment df taxes and assessments levied upon said premises, or on this mortgage, before they are tlelmquent: or !d) If there is any change in the ownership of the rea' ostate mortgaged herein, by sale. either outright or by land contract. or by assignment of any interest thereon or otherwise: then, in any of the above set-forth events, the whole indebtedness hereby secured shall, at the option of Gdmmerciai, immediately become due and payable without furtimr notice, and the amount due under said note and any other note for additiona' advances made shall, from the date of the exerase of said option, bear interest at the mazimum legal rate per annum. and this mortgage may then Ire foreclosed to satisfy the amount due on said note, and arry other note for additional advances, together with al! sums pa+d try CAmmerciai for insurance. taxes, assessments and abstract extension charges, with ;nteresl thereon from the date of payment at the maximum legal rate. PROVIDED that m no event, either before or zfter default. shall the interest due under sa+d note and th+s mortgage and any other note for ad- dibona! advances made exceed the maximum ;awful interest rate. PROVIDED: further, that in the event that defaclt oct.rrs .n the .:along of ti!e payr^e.^.ts tluc an said note. and on any other note for additia~al advances, as therein agreed to be made. or in keeping the prey„ses visored, as above provided. dr ;t defau!r tr ^.ade in the payment df the taxes or assessments levied upon fhe premises above described cr upon th,s mortgage. before they are by law tle!+nq;;e.^;t. Gemmercia: shat! 6e entitled to the smmediate possession of the premises above-described together »+th alt rer;ts, pre;eeds and issues arising out of the premises, and may m its d±scre4on use the rents so far as it deems necessary f;3 the purpose of making reports uppn the premises and for the payment of insurance .,, ";s. Taxes and assessments :sxn such pcem;ses. and fx necessary expenses +, trod , tooling sa;d pre,~~ises and collecting rent 6herefrom, and th apply soma on sa+d Hate and any notes evidenrog fufiure advances hereunder until the indebtedness secured is #uHy paid: and for such purposes, the undecsigrred does hereby sell, assign, set over and transfer unto Cammerc+ai ai of sago rents proceeds and incomes including any land contract payments th;e mortgage owners or any other incomes of a,y type wfiatsoever from said property to be applied en the notes above-described; but said Commertiai shaii in ne case be liable for the failure #e procure tenants. to collect rents. or !o prosecute actions tc recover possession of said premises. The Mortga~rrs further appernt Commercial of Omaha. Nebraska. their attorney ~n #an, giving said attemev power ~nevecabiy. either en its own name dr filosigagars' names to take all necessary steps Fdr proC2Pdmgs m Cd~rt cr oinetwise, in Caese said pre!niSes to bE vacated, to collect tenialS or other in~mes due, and »fien vacant, to re let the same. td make a!i reasonable repairs and Day taxes uet of said rents, prehts, caitract payments or incomes and to da all such things either by ;u awn officers cr by other part;es duty authorized and appointed by ~f, as its agent ter saiC purpose, and to charge rx pay a reasonable fee for such servites a!I of the above td be done at such t,mes and ,n such manner and air such terms as to their said attorney may seem best. with full ,ewer of substtuton. The Abrtgagors hereby agree that .,` Co+~~meiciai either votuntaniy dr involuntariy becomes or is made a trarty to any sad ;r prxeedmg relating to the hereinbetdre described tea! estate. dr tc th,s mortx~ge or sa+d note dr notes. other than a fcreCles~ae instituted pj G,T.merc~ai. ?dortgagdrs will reim1atrse Commercial for al! reasonable costr insured try Commercia': in said suit er proceetlrng- The fh:;~;gagors further agree that if Uie hereinbefore described real esate or any part thereat be condemned under the rower of eminent dpmain, or .s otherwise acqu+rE'tl for a publ;c use. the damages avrarded, itre proceeds for the +aking, and for the cdnsirteratirn for such acqursrbdn id the extent of the fu.! arr.„cunt of the re!*a!ning unpaid indebted ohs secured try [his mortgage, Ire, and ilrey hereby ate, assigned to Gommorrai and shaii be paid forthwith to Commercia! to he applied nn account of tt+e Last maturing instotlments of such indebtedness. Detect tots l3rii~ day of u • ,y ~1 ~j~ - f . iN THE PRESENCE OF: ~ ~ e !/its' i' I ~~ ~ Alfred Robert Ray Orri _ / '~~~~' {Elizab~ie ~Orri"~ /V ~' i . ,.t STATE OF NEBRASKA COUNTY OF }~1 ss- ~~ ~J~ On this /3 ~~ dyy of -~/~lt~ 19 __ L , 6zfore me, a notary pubic in and for said County, personally came the above-named Alfred Robert Ray Orrick, and Elizabeth Mackie Orrick, husband and wife to me well knew ' person or persons whose name is m names ace affixed to the above mortgage as grantor or grantors and they, he s ~ d instrument and the execution thereof, to be their voluntary act and deed. YMOWS N. PENS d-, Ili is day and year Iasi above written- /% ~y~~~y .11~~ ~/L ~/ Netar; Pu%4C --------- MY commission expires on the ~-~!!1-d-ey of _ T~___ !9:x,1.. M-Sp