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~g~. U113922 EXPAI~IDABLE MC~RTC~AGE ASSIGNMENT OF RENTS Loan No-._9.`3.42.$_=Z- KNOW ALL MEN BY THESE PRESENTS: That David L. Van Hoosen and Betty E. Van Hoosen, husband and wife (hereinafter called the Mortgagors) in consideration of the sum of Sixteen Thousand Five Hundred and No/i00------------------------° DoAars(3 --16,500.00--) loaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN RSSOCIATtON of Omaha, Nebraska, {hereinafter called " ommere!aI"), ds successors and assrgns, the tohowing described real estate, situated in the County of, Hall State of Nebraska, to-wit: Lot Fovr (4) in Sunset Subdivision, being a part of the North Half of the Northeast Quarter (N1/2NE1/4) of Section Eleven (11) Township Eleven (il) North, Range Ten (10) west of the 6th P.N., in Hall County, Nebraska TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, !ts successors and assigns, forever. Said R7ortgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfully seized of sa!d 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 following conditions: That whereas the said Mortgagors as members of Commercial hate 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 have agreed to abide by the terms or said note and Charter and By-Laws of Commercial. That whereas this mortgage shall secure any additional advances, with interest, which may, at the opfion 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 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 by law, and PROVIDED, HOWEVER, that nothing herein contained shall be considered as limiting the amount that shall be secured hereby when advanced to protec± the security or in accordance with covenants contained in the mortgage. Now, if the said Mortgagors shall pay or 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 interest, then these presents shah be void: omerHise, to ce anu rer~ain in full farce and 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 be made for three rsonths, or (b) In keeping the improvements on said premises 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 acceptable to Com- mercial, the original cf such policy or policies to be held by Commercial. and with a mortgage clause attached to said policy or policies, in favor of Commercial; or (c) In the payment of taxes 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 by land contract, or by assignment of any interest thereon or otherwise; - then, in any of the above set-forth events, the whale indebtedness hereby secured shall, at the option of Commercial, immediately become due and payable without further notice, and the amount due undei said note and any other note for additional advances made shall, from the date of the exercise of said option, bear interest at the mazimum legal rate per annum, and this mortgage may then be foreclosed to satisfy the amount due on slid note, and any other note for additional advances, together with all sums paid by Commercial for insurance, fazes, assessments and abstract extension charges, with interest thereon from the date of payment at the mazimum legal rate. PROVIDED that in no event, either before or after default, shalt the interest due under said note and this mortgage and any other note for ad- ditional advances made exceed the maximum lawful interest rate. PROVIDED, Further, m~' in the event that default occurs in the making of the payments due on said note, and on any other note for additional advances, as therein agreed ;~ be made, or in keeping the premises insured, as above provided, or if default be made in the payment of the fazes or assessments levied upon the premises above described or upon this mortgage, before they are by law deiinoue^t, Commercial shall be entitled to the immediate possession of the premises above-described, together with ail rents, proceeds and issues arising out cf the premises, and may in its discretion use the rents sc far as it deems necessary for the purpose of making repairs upon the premises and for the payment of insurance praniums, taxes and assessments upon such premises, and for necessary expenses incurred in renting said premises and collecting rent therefrom, and to apply safe ar said Hate and any Hates evidencing future advances hereunder until the indebtedness secured is fully paid; and for such purposes, ih8 undersi~red does hereby sell, assig<~. set over and transfer unto Commercial all at said rents, proceeds and incomes including any land contract payments due mortgage owners ar any other incomes of any type whatsoever from said property to be applied on the notes above-described; but said Carimercialshaflin no case be liable for the failure to procure tenants, to collect rents, or to prosecute actions to recover possession of said premises. The Mortgagors further appoint Commercial of Omaha, Nebraska, their attorney in fact. giving said aiforney power irrevocably, either on its owro name ar Mortgagors' names to take all necessary steps for proceedings in court or otherwise. to cause said premises to be vacated, to collect rentals or other incomes duo, and when vacant. to rotor the same, to make all reasonable repairs and pay axes out of said rents, profits, contract payments or incomes and to flo aH such things either by its own officers or by other parties duly authorized and aPPainled by !(, as its agent for said purpose, and !o charge or pay a reasanabte fee for such semces, all of the above to be done at such times and !n such manner and on such terms as to their said attoney may sear best, with fulS power of substitution. The Mortgagrcts hereby agree Lhat !t Commercial either voluntarily ar mveiunarily trecomes cr a made a party to any suitor proceeding relating to the hereinbefore described real estate, or to th!s mortgage ar sa!d note m notes, other than a foreclosure ;nstrtuted by Commercial, Mortgagors vii!( reimburse Commercial for all reasonable costs mwrred by Commercial in said suitor proceeding The Afortgagors further agree that if the hereinbefore described real estate or any par! thereof be condemned under the power of em!nent domain. or is otherwise acgwred for a public use, the damages awarded, the proceeds for the taking, and for the consideration for such acquisition to the extent of the tut! amount of the remaining unpaid indebted- ness secured >yi' this mortgage, be, and they hereby are. assigned fa Commercial and s;rall be paid tnrthwibh to Commercial to be applied on account of dte fast ma6rring in_sta~jments of such indeb ess Dathdtiiis~n~ day of, -.19~. tN E,/P~RESENCE DF:) ~~ ~ f ~ ~~~ ~ ~ " ~~1 f ~-( ~o ~ b s.a.-4 STATE Of NEBRASHA David~L. Van Hoosen Betty ` Van Hoosen ss. COIiNTY Of Hall _ /} ~_ C.~ i On this ~- day of t9 % ~, before me, a notary public m and for said County. personally came the-above-named David L. Van Hoosen and Betty £. Van Hoosen, husband and .rife th me welt known to be the identical person ar rersons whose name is ar names are affixed to the above mortgage as grantor cr gianiors artl they, he or she, severally acknowledge the said instrument and the execution thereof, to tin their voluntary act and deed. - gMIfM1r•StleNIU9r. ~ - / WITNESS my hand and Noaral Seal this day and year last ve Q Nr~i9~AG (1j~~,~,.-~,,~~~~~Se: c --- Nstarv' Pubht Mr/ commission expires an they ~^~_day of ~ _.~_ , 19 _~g !=t 5''