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~~`-~ t~[139~8 EXPANDABLE ?l~QR~'GAGE ASSIGNMENT CIF RENTS Loan Nc. 891387-u KNOW ALL MEN BY THESE PRESENTS: That Richard A. Sommers and Mary K. Sommers, husband and Wife (hereinafter tailed the Mortgagors) ir, consideration of the sum of Forty-Four Thousand One Nundred and NO/100------------------------- Dollars(5--44,100.00-- } loaned to Mortgagors, do hereby grant, bargain, self and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCtATiON of Omaha, Nebraska, {hereinafter called " ommercral"), its successors and assigns, the following described real estate, situated in the County of, Nall State of Nebraska, to-wit: Lot Five (5) in Block Two (2} in Wieser Subdivision of the West Half of the Southwest puarter (W1/2SW1/4) of Section Two (2}, Township Eleven (11) North, Range Ten (10} West of the 6th P.M., Hall Caun`t:y, Nebraska i0 HAVE AND TO HOLD THE 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 free from encumbrances, and that they will forever warrant and defend the title to said premises against the lawful claims of all persons whomsoever. Provided, nevertheless, these presents are upon the fallowing conditions: That whereas [he said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing to repay said sum of money, with interest, in payments as set forth in said note and ha r? agreed to abide try the terms of said note and Charter and 61'-Laws of Commercial. Shat whereas this mortgage shall secure any additional advances, with 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 shall the aggregate principal amount secured by this mortgage, being the amount due at any lime on said original note and any additional advances made, exceed an amount equal to 110 percent of the amount of the original note, but in no event shall said note exceed the maximum amount permitted by law, and PROVIDED, HOWEVER, that nothing herein contained sha~I be 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 shalt pay or cause to be paid the said sums of money when due, as set forth in said note, and any other nose for ~~ti°^af o ~^ces Redo urbl said debt is fully paid with interest, then these presorts she!! ba vciC; cLheraise, , wand ra„o,,, „~ ,,,,,~ fl " fUti f ud effect 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 6e made for three months, or (b) In keeping the improvements on said pr=miles insured against loss by 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 company or companies acceplabte to Com- mercial, the original of such policy or policies to be held by Commercial, and with a mcrtgage clause attached to said policy or policies, in favor of Commercial; or (c) In the payment of axes and assessments levied upon said premises, ar on this mortgage, before they are delinquent; or (d) If there is any change in the ownership of the real estate mortgaged herein, by sale, either outright or ty land contract, or 6t' 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 Commercial, immediately become due and payable without further notice, and the amount due under said note and any other note for additional advances made shall, from the date of the exercise of 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 arty other note for additional advances, together with all sums paid by Commercial for insurance, taxes, assessments and abstract extension charges, wrth interest thereon from the date of payment at the maximum legal rate. PROVIDED that in ro event, either before or after default, shall the interest due under said note and this mortgage and any other note for ad- dibonal advances made exceed the maximum iawfulinterest rate. PROVIDED, further, that in the event chat default occurs in the making of the payments due on said note, and on any other note for additiaral advances, as therein agreed to 6e made, or in keeping the premises insured, as above provided, or if default be made in the payment of the faxes or assessments levied upon the premises above described or upon this mortgage, before they are by law tlefinquent. Commercial shall fe entitled to the immediate possession of the premises atxrve-described, together with all rents, proceeds and issues arising =ut of the premises, and may in its discretion use the rents so far as it deems necessary for the purpose of making repairs upon the premises and for the payment of insurance premiums, taxes and assessments upon such premises, and for necessary expenses incurred in renting said premises and wllecting rent therefrom, and ifl apply same on said note and any notes evi6ercing future advances hereunder until the indebteMess secured is fully paid; and for such purposes; the undersigned does hereby yell, assign, set aver and transfer unto Commercial all of said rents, proceeds znd incomes including any Land conbact payments due mortgage owners or any other incomes of any type whatsoever from said property to be applied en the notes above-described: tut said Commercialshatlin no case be liable for the failure to procure tenants, to collect rents, or to prosecute actions to recover possession of said premises. Tice Mortgagors further appoint Commercial of Gmaha, Nebraska, their attorney in fact. giwng said attorney power irrevocably, either on its own name: or Mortgagors' names to take all necessary steps for prxeedings in court or otherwise. to cause said premises to be vacated, to collect rentals a other inwmes due, and when vacant, to retet the same, to make al( reasonable repairs and pay taxes out of said rents. profits, contract payments or inwmes and to do alt such things either by its own officers or by other parties duly authorized and appointed lry rt. as ifs agent for said p'arpose, and to charge or pay a reasonable fee for wch services, all of the above !o be done at sorb times and in such manner and a~ such Terms as to their said atfomey may seem fleet, with felt power of substibrtion. The Mortgagors hereby agree that ii Commercial either voluntarily pr inaolunaniy becomes or is mzde a part' to any suitor proceeding reiahng ip the hereir.~fore described real estate. nr tp this rn~xtgage or card note or notes, pricer than a fpreclosure instituted iN Carmerciai, Mortgagors wilt reimhrrse Commercial for all reasonable costs marred bi' Commercial m said sailor proceeding- Tire Mortgagors further agree that if the hereinbefare described real estate or any part thereof ix condemned under the power at eminent domain, ar is otherwise acquired for a public use, the damages awarded, the proceeds for the taking, and for the ccnsrderafion for such acquisition to the extent of the full amount pf the remaining unpaid indebted- ness seared by this mortgage, ~, and they hereby are, assigared tp Commercial and shall be paid forthwith to Commercial tp be applred on account of the tali maturing~insallments of such indebtedness. Dated this~_day of ~~/E , 19 ~.-~~~~ J~~~// j~ 1N THE PRESENCE OF: Q ~"N/L,f~/f ~I ~~ Richard A. Sommers Mary K. miners ATE OF NEBRASKA COUNTY OF Hall ss. - 0o- this /~jj- day of ~~~~ 19 LL, befor? me, a notary public in and for said County, personally came the above-rramed Richard A. Sommers aad Mary K. Sotffiters, husband and Wife ~ me waif known th fe the idenlipat parson or persons whose name is or names are affixed to the above mortgage as grantor or grantors and the e id insbument arld the execubon thereof, to 6e their voluntary act and deed. ~~~ ~~_ is day and year last above written. i~~~~~~ - - Notary Public My commission expires on the 2~~ day of ~ , 19 ~ . M 50