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79--,Utt4QS6 EXPANDABLE MORTGAGE ASSIGNMENT OF RENTS Loan tfo. 4~4~_2-E _,__ KNOW ALL MEN BY THESE PRESENTS: That James F. Lentz and Glenna J . Lentz, husband and wife {hereinafter called the Mortgagors) in consideration of the sum of Twenty-Three Thousand Nine Hundred and NO/100---------------------pollars(3--73,900.00--) loaned to Mortgagors, do herebyy grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha, Nebraska, (hereinafter called "Commerc!al"), its successors and assigns, the following described real estate, situated in the County of, Hall State of Nebraska, to-wit: Lot Two (2) in Capitol Hill Addition to the City of :,rand Island, Hall County, Nebraska TO HAVE AND TO HOLD T:tiE 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 se!zed of said premises, that they are free frwn encumbrances, and that they will forever warrant 2nd defend the title to said premises against the lawful claims of alt 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 of money, with interest, in payments as set forth in said note and have agreed to abide try the terms of said note and Charter and Bylaws of Commercial. That whereas this mortgage shall secure any additional advances, with interest, which may, at the option of Commercial, be made 6y 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 6y 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 original note, but in nn event shall said note exceed the u!aximum 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 protect 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 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 additional advances made, as therein agreed to be made for three months, or (b) in keeping the improvements on said premises insured against loss by reason of fire, lightning, and other hazards included in ex!ended 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 of 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 paymeh! of taxes and assessments levied upon said premises, or on this mortgage, before they are delinquent; or {d) tf 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 df 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 any other note for additional advances, together with all sums paid by Commercial for insurance, taxes, assessments and abstract extension charges, with interest thereon from the date of payment at the maximum legal rate. PRDNDED that in no event, either before or after default, shall the interest due under said note and this mortgage and any other note for ad- ditional advances made exceed the maximum iawfufinterest rate. PROVIDED, further, that 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 to 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 upor, the premises alcove described or upon this mortgage, before they are by law delinquent, Commercial shall be entitled to the immediate possession of the premises above-described, together with elf rents, proceeds and issues arising out of the premises, and may in its discretion use the rents SQ 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 collecting rent therefrom, and to apply same on said note and any notes evidencng future advances hereunder until the indebtedness secured is fully paid; and for such purposes, the undersigned des hereby sell, assign, set over and transfer unto Commercial all cf said rents, proceeds and incomes including any land contract ~yments thre mortgage owners er any other incomes of any type whatsoever from said property to he applied en the notes above-described: but said Commercial shall in no rase be liable for the failure to procure tenants, to collect rents, or to prosecute actons to recover possession of said premises. The Mortgagors further appoint Commercial of Omaha, Nebraska, their attorney in fact, giving said attorney power irrevocably, ether on ifs own name or trbrtgagors' names to take alt necessary steps for proceedings in court or otherwise, to cause said premises to be vacated, to collect rentals er other incomes due, and when varant, to relet the same, to make all reasonable repairs and pay taxes out of sold rents, profits, contract payments or fnwmes and to do alt such things erther by its own officers or by other parties duly authorized and appointed by it, as its agent for said purpose, and to charge or pay a reasonable fee for such services, all of the awe to be done at such limos and in such manner and on such terms as to their said attorney may seem best, with full (rower of substitution. The Mortgagors hereby agree that if Commercial either voluntarily or involuntarily becomes or is made a party to any suitor proceeding relating to the hereintcefnre described real estate, m to this mortgage or said note m notes, other than a foreclosure inshfuted fPy Commercial, Mortgagors will reimturse Canmercial for aN reasonable costs incurred by Commercial in said suitor proceeding. The Mortgagors further agree that if the hereinbefore desttihed real estate or any part thereof be condemned under the power of eminent domain, or is otherwise acgwred ter a public use, the damages awarded, the proceeds for the taking, 2nd for the consideration far such acquisition to the extent of the tut! amount of the remaining unpaid indebted- ness secured b:r this mortgage. be, and they hereby are, assigned to Commercial and shall 6e paid forthwith io Commercial to be apolied on account of the last maturing inshaNments of such indebtedness. t)ated this ~v!~'fy y of Tc1.r/E , 19 ~ . #N THE PRESENCE OF ter-. James F. Le z ~ ~ ~~'L '7n Q t_i /i ,J Glenna J. Lentz f ~-~- STATE OFNEBRASKA COUNTY OF j{~1 ss. _ _ On this ~~! day of . rS~-'~E , 19 -LL ,before me, a notary public in and for said County, personally came ttro above-gamed 3ames F. Iesntz and Glenaa J. Lentz, husband and wife to me well kbown !o he the identical rson or persons whose name is or names are affixed to the above mortgage as grantor or grantors and they, he instrument arid the execution thereof, fo be their voluntary act and deed. ~~ /////j SS~~l th day and year last above written. ~~~~~~~~`~ ~..~. Notary Public My corumission expires on the . c~[-cf .day of ~ , 150. M 50