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79. 1-~I!.?"'~,$ EXPANDABLE MORTGAGE ASSIGNMENT OF RENTS Loar. No. 821390-6 _ KNOW ALL MEN BY THESE PRESENTS: That Edwin R. Sisson and Marian G. Sisson, husband and wife (hereinafter called the Mortgagors) in consideration of the sum of Forty Thousand Five Hundred and NO/100----------------------------Dollars (5 --40,500,00--~ loaned to Mortgagors, do herebyy grant. bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha, Nebraska, (hereinafter called "Commercial"), its successors and assigns. the following described real estate, situated in the County of, Hall State of Nebraska, to-wit Lot Nineteen (19) in Buhrman Subdivision an addition to the city of Grand Island, Hall County, Nebraska TO NAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging. unto Commercial. its successors and assigns, forever. Said Mortgagors hereby covenant with said Commeraal. its successors and assigns, that hieitgagurs are iavrfully seized of said premises, that they are free from encumbrances. and that they vii II forever warrant and defend the btie to card premises against the lawful claims of all persons whomsoever. Provided, nevertheless, these presents are upon the following condiLons: That whereas the said Mortgagors as members of Commercial have this date executed a note ewdenung such loan and agreeing to repay said sum of money. with interest, in payments as set forth in said note and have agreed tc abide by the terms of said note and Charter and By-Laws of Commercial. That whereas this mortgage shall secure any additipna! advances. w;th interest. which may, at the option of Commercial, be made by Com- mercial 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 shalt the aggregate principal amount secured by this mortgage, being the amount due at any time on said original note and any additional advances made. exceed an amount equal to 110 percent of the amount of the ongmai note, but in no event shall said note exceed [he maximum amount permitted by law, and PROVIDED. HOWEVER, that nothing herein contained shall be considered as limiting Ne amount that shall be secured herelry when advanced to protect the security or m accordance with covenants contained in the mortgage. Now, if the said Mortgagors shall pay or cause is be paid the said sums of money when due. as set forth in said note, and any other note for additional advances made until saiC debt is fully paid with interest. then these presents shall be void: otherwise, to be and remain in full force and 2fteti: but if default should be made: ~a~ In any of the payments due on said note, and any other note for additional advances made. as therein agreed to be made for three months, or !bi In keepm; the improvements on said premises insured against loss by reason of fire, lightning, and other hazards included in extended coverage insurance m an amount not less than the unpaid balance of said mortgage loan, m a company or companies acceptable to Com- mercial, the original of such policy ar policies to tx held by Commercial, and with z mortgage clause attached to said policy or policies, in favor of Commercial; or In the payment of taxes and assessments leveed upon said premises. or an this mortgage, before they are delinquent: or id1 If there is any change in the ownership of the real a„a?2 mortgaged herein. by sate. =ether outright or by !and contract, or by assignment of any interest thereon or otherwise'. Chen, in any of the above set-forth events. the who!°_ mdebtetlness hereby secured shall. at the option of Commercial, immediately became due and 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 of said option, bear interest at the maximum legal rase car annum. and mss mortgage may then be foreclosed to satisfy the amount due on said note, and any other note for additional advances. together with alt sues paid by Commercial for insurance, taxes. assessments and abstract extension charges, with interest thereon from the date pf payment at the -ax,mum legal rate. PROVIDED chat m nc event e~?her before ar after default. shalt the interest due under said pate and this mortgage and any other note for ad- d:bcna? advances made exceed the maz;mum iawh:! m?crest rate_ PROVIGED- further, that in the event ?ha? defaua pours ;n ?he making of the payments due ~ said note. and en any other nets for additional atlvaaces. as fhere,n agreed to be made. er ro aeemng the premises insured. as above provided, or ;i de#au![ Ix Tads fn the payment of the taxes or assessments I>yred upon the u:e^ises a`.;:ve „escr,bee cr upon this mortgage. before they are try taw delinquent Commercial she!! t?e entitled to the ~mmed,a?e possession of the prei*aas ahoy.-described ?ogether with al! rents proceeds and issues arising out ei the cremises. anC may m as distre?;on use the :ants sc ia: as a decors recessay f -r the purpose of making repaus upon the premises and fct the payment of insurance p eii,ucis taxe and assess-en?s v;ron such pre;r,ses a.^.d ion necessary zxuenses incur:ed in renting ;aid premises and collecting rent therefrom. and to aFAfr same oa said note ono ar,y ;.etas evidencing future advances hereunder uot,l the indebtedness secured is fully paid; and for such purposes, the a^.^ers:fined does hereb:, __......ssig". tea? ov.r ono transf=_r ,ante G;; ,-ratr;ar alt of y:,d [en?s. prpceeas and incomes including any land contract payments x e mortxage a.,e ~ -,r err ,,,~< ;n: e, ,,• a .; ;}pt w„atsc~ev ,.,- sa v p.~perty to be app'~ed ca the notes above-described: but said Ccm-eaal snag m rp case be :-able for tie fai!u'e t•; procure tenants to cellec? reds, er io prpsecute achpr,s !o recover possession of said premises. The !dattgagan further appcni Cv„„niercia; of Dn:aha, Nebraska. the;r attorney m foci. gw~ng said attorney power irrevocably, either on its own name ar Rlorigagors' names to take a~ necessary steps for p; oceedmgs m covri m otherwise. to cause said premises to be vacated. to collect rentals or other mco+res due. and when vacan.i. to reset the soma. to ~^ake al; reasonable repairs and pay taxes out pt said rents, profits, contract payments m incomes and ?c de all such Dings ether by rts awn cff;cers ar t5 eUer parties duly authcnzed and appointed ~' .t. as its agent for sa~tl purpose, and to charge or pay a reasonab?e fee #a such sernces. alp pf the above m be done at such times and u. such manner and on such terms as to their said attorney may seem best. with toll power of subshIDtron. The Mortgagors hereby agree that if Cpmmeraal eithe* vcwntar.iy or imoiuntari!y becomes pr is mzde a party to any sm1 or proceeding relating to the herembefere described real estate. cr to this mortgage or sa+d note ar notes. other ?hzn a #:,rec;psure instituted try Cammeraa!, ttortgagors will reimburse Gommercra! for a~? reeasonable cos?s ~ncurr;n; bv' Canme¢:a! m said suitor praeed~ng The 9crigagers further agree that ~? the herembefore described real esta?e or any part thereof be conde~ned under the power of eminent domain. or is otherwise acquired 6x a public use. the damages awarded. the proceeds for the eking, and for the cansiderat.on fpr such acgws~ticn to the extent of the `:il arcunt of the remaining unpaid indebted- ness secured try this mortgage, De; and they hereby are. assigned to Cpmmercial and shall be paid forthwith to Ceamerciai to be aeplied cn account pt the last maturing mstaP,men[s of s~~ch rndebtetlness. , ~fetl this /s7~ day of ~J~f1c' tg!7 - IN THE PRESENCE OF:/~ ~~,y~l - -- -- J1.~~7"- Edwin R. Sisson \ / .__- J -- Marian G. Sisson STATE OF NEBRASKA ss. -- 000NTY OF Hal On itris ~ T~ day of _ ~'~E -___ , 19 L? . t~fnre roe. a notary public in and for said County, personalty came the above-named Edwin R. Sisson and Harlan G. Sisson, husband and wife to me weU known to fro the identical person or persons whose name is or names are affixed to the above mortgage as grantor or grantors and they. he or she, coverall acknowl id instrument and the execution thereof. m ce coca voluntary act and deed. Q NWI-bb~ItU1w~Y ~ NESS7y0~Ailil~l4 is day and year last above written. %//{~~~/ ~/ tNy Camr~ 6F Au4 _~! ~!°~'~~Ya-/'_L~'._'_ _ _ .~l~G.--?t1-- My commission expires on the__ day of _ 1 -. td ~0