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<br />79-- t,-U3771 EXPANDABLE MORTGAGE
<br />ASSIGNMENT OF RENTS Loan No.._82a 384-t
<br />KNOW ALL MEN RY THESE PRESENTS: That Thomas L. York, a single person
<br />(hereinafter called the Mortgagors) in consideration of the sum of
<br />Thirty-One Thousand Fifty and NO/100----------------------------- Dollars (5--31 050.00--}
<br />loaned to Mortgagors, do hereby grant, bar~ain, sell and convey unto COMMERCIA! FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br />Nebraska. (hereinafter called "Commercial" , its successors and assigns, the following described real estate, sduaied in the County of,
<br />Hall State of Nebraska, to-wit:
<br />Lot Three (3) in Block Forty-Three (43) in Charles Wasmer's
<br />Second Addition to the City of 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 />Said Mortgagors hereby covenant with said Commercial, its successor, and assigns. chat fdertgagers 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 lawful claims of all perscns
<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 loan and agreeing to repay said
<br />sum of money, with interest, in payments as set forth in said note and have agreed to abide b} the terms ct said nose and Charter and Bylaws of
<br />Commercial.
<br />That whereas this mortgage shall secure any additional advances, with interest. which may. ai the option of Commerdal, be made by Com-
<br />mercial to the undersigned Mortgagors or their successors in title for any purpose. at any time before the release and cancellation of this mortgage,
<br />mtt PROVIDED. HOWEVER. at no time shall the aggregate pnnapal 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 110 oercent of the amount of the ong;nal note, but m no event shall
<br />said note exceed the maximum amount permitted by law, and PROVIDED, HOWEVER. that nothing herein contained shall be considered as limiting
<br />the amount that shall be secured hereby when advanced to protect the security ar in accordance with covenants contained in the mortgage.
<br />Now, if the snip Mortgagors shall pay or cause to be paid the said sums ei money when due, as set farm in said note, and any other note for
<br />additional advances made until said debt is fully paid wim interest. then these presents shalt be void; otherwise. W be and remain in full force and
<br />effect; but if default should be made:
<br />ia) In any of the payments due on said note, and any other note for additional advances made, as merein agreed to be made for three monms, or
<br />tbi in keeping the imprpvemenls on said premises insured against loss bf' reason of fire. lightning. and other hazards included in extended
<br />coverage insurance in an amount not less than the unpaid balance of said mortgage loan, in a company or cempames acceptable to Com
<br />menial, the original of such policy or policies So be held 6y Comnarcial, and with a mortgage clause attached to said policy or policies,
<br />in favor of Commercial: or
<br />rc? In the payment of taxes and assessments levied upon said premises, ar en this mortgage, before mey are delinquent: or
<br />id? It there is any change m me ownership pf the real estate mortgaged herein, by sale, either ^utnght ar by land contract. or by assignment pf
<br />any interest thereon or otherwise:
<br />then, in any of the above set-forth events. the whale indebtedness hereby secured shad, at me option of Cpmmeraal, sa:mediately become due and
<br />payable without further notice, and the amount due under said note and any other note for additional advances made shalt. from the date of the exercise
<br />pt said option, bear interest at the maximum legal rate per annum. and this mortgage may then be foreclosed to satisfy the amount due on said note, and
<br />any other note for additional advances, together with a!I sums paid by Commercial far insurance, taxes. assessments and absinct extension charges,
<br />with interest merean from the date pf payment at me maximum legal rate.
<br />FRONDED that in no event, either before or after default, shall 6he interest due under said note and this mortgage and any other note for ad-
<br />ditional advances made exceed Ghe maximum lawful interest rate.
<br />PROVIDED, further. fie? in the event ma[ default occurs m ;he making of the payments due pn said n~~;e. a^^ ~.n nay Omer note for additional
<br />advances. as therdin agreed to he made, or in keeping me premises insured, as above provided ar i; defau~t be title in me payment of the faxes
<br />or assessments levied upon me premises above described or uoor. mis mortgage, before they are by law de:~nquent. Cpmmerciaf shall be entitled
<br />to me immediate possession of me premises above-descrbed. together with all rzr.is. proceeds artl issues ar~.s~ng out pf me premises. and may
<br />m its discretion use the rents so far as ii deems necessary to me purpose of mating repairs upae the pre,~~ses and fc the payment of insurance
<br />premrums, fazes and assessments urn such premises. and for necessary expenses incurred ~a renting sai9 prem;ses anu cd:lerhng Beni b't2r2frar,. and
<br />to apply same pn said note and any notes evidenang ±uturo advances hereunder until me indebtedness secured s fully paid: and for such purposes,
<br />the undersigned does hereby sell, assign. set over and transfer uata Cammerc!al all of said rents. proceeds and inca;,es including any land contract
<br />payments due mortgage oviners or any a!her incomes of any type whatsoever from said pic>, erty to be aPpii`-~C on the notes above-described: lx,t said
<br />Commercial shall in no case be liable for the failure to pwcu;e tenants. to cclleci rents ar to prosecute a:bons to iecover possession of said prerdses.
<br />The Mortgagors futther appoint Commerual of Dmaha. Nebraska- ihe~r attorney in fact. giving sand attorney pt we? irrevocably, ether on its own
<br />name pr Mortgagors' names tc take all necessary steps for proceedings in court or otherwise. to cause saiC premises ie be vacated. to collect renfats
<br />or other indarres due. and wher, vacant- to reset the sa^e to make all reasonable repairs znd p:y taxes out cf said rents. profits. donbact payments or
<br />incomes and to tlD aII such mmgs either by ds pwr, ~~ff,cers of try other parties duty authorized and app+nted pe rt as its agent for said purpose, and
<br />w Ctarge nr pay a reasonable fee far suC: services. ail ;;f m= altp•.•e tc De dere at such floes an" :n sorb :°nanner and on Such terms as M mein said
<br />attorney may seem best. wim full power of subsGiution
<br />The kiortgagors hereby agree that if Cornmerual ether voiunta:r!y of i^vasu^.tar,;y bescmes or s made a p•ary m any suitor proceeding relating
<br />to the hereinbefpre iescnbed rea~''S~ie, ur is :his r ;r*,gage ,r said note or rotes other main a tc - .~ .mt±tuted `.• Cemmeruai, Mortgagors roil!
<br />reimh!rse Commercial for all reasonable costs mwrred Uv Gommerual =n said suit or proceed+ng The~rdc~tgagore further agree mat rf the herembefore
<br />descttbed real estate or any part thereof be canden;netl under me power of eminent dp!^ain or is otherwise acou~retl f r a pubic use. the damages
<br />awarded, the proceeds for the takreg, and for the donsideratix ter s:;ob acquisr!~an tc the extent of tae ful~ a^ cunt of the remaining unpaid indebted-
<br />ness secured by this mprt~ge, he. and they hereby are, assigned !a Cemmerna! and shall be a,d fprthwim to Cammerr~a to tie applied an account of
<br />the fast rsatur:n installments pf sorb mdebt ss-
<br />Oatert this~~day of 19~
<br />Ycrk ~'
<br />T}~+a /i~. ~,
<br />STATE OF NEBRASKA ~-~~ ~• VM®BERG
<br />CDUNTY OF •Hall
<br />On this _.l_~__day of 19~, before roe. a notary public m and for said County. personally came
<br />the above-named
<br />Thomas L. York ~ single person
<br />_ to me welt known to be the identical person or terspns whose name is or names are affixed to me aMve mortgage as grantor cr granters and they, he
<br />or she, severalty acknowledge the said instrument and the ezecuppn tnereot, to ce then vuiuutary ecti and de~~.
<br />WITNESS my hand artl Notarial Seal this day and year last above written.
<br />-- - PJat~ bhs -- -
<br />My commission expires on the (~ day pf ~' "'~I ~__ . t9 ~~ td 50
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