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7g,-llll~(}$$ EXPANDABLE MORTGAGE 49431-B ASSIGNMENT OF RENTS Loan No. ________ KNOW ALL MEN BY THESE PRESENTS: That Dwayne L. Spomer and Glenna L. Spomer, husband and wife (hereinafter called the Mortgagors) in consideration of the sum of Twenty-Seam Thousand Hine Hundred and NO/100_____________________Dollars(S --27 900.00-) loaned to Mortgagors, do herebyy grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS RND LOAN pSSOCIAT~ON of Omaha, Nebraska, (hereinafter called "Commerc!al"), its successors and assrgns, the following described real estate, situated in the County of, Hall State of Nebraska, to-wit: Lot Five (S) in Block One Hundred Thirty (130) Koenig and Wiebe's Addition to the City of Grand Island, Hall County, Nebraska TO 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 flee from encumbrances, and that they will forever warrant and defend fhe 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 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 an 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 6y 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: otherrise, to lre and remain in full force and effect; but if default should be made: (a) In any of the payments due an said note, and any other note for additional advances made, as therein agreed fo tie made for three months, or (61 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 of such policy or policies to be held by Commercial, and with a mortgage clause attached to said Dolicy or policies, in favor of Commercial; or (c) In the payment of taxes and assessments levied upon said premises, or on this mortgage, before They are delinquent; or (d) ff there is any change in the ownership of the real estate mortgaged herein, by sale, either outright or try land contract, or by assignment of any interest thereon or otherwise; - [tre<r, 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 Nis 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, with interest therear from the date of payment at the maximum legal rate. PROVIDED Nat in no evenf, either before ar after default, shalt the interest due under said note and this mortgage and any other note for ad- ditional advances made exceed the maximum (awful interest rate. PROVIDED, further, Nat in the event that default ocars in Ne making of the payments due on said note. and on any other note for additional advances, as Herein agreed to be made, or in keeping the premises insured. as above provided, or if default tre made in the payment of the taxes or assessments levied upon the premises above descrited or upon Nis mortgage, before they are try law delinquent, Commercial shall tie entitled to the immediate possession of the premises above-described, together with alt rents, proceeds and issues ansing out 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, fazes and assessments upon such premises, and for necessary expenses inwrred in renting said premises and collecting rent Nerefmm, and to apply same on said note and any notes evidrsrcing future advances hereunder until Ne indebtedness secured is fully paid; and for such purposes, the undersigned does hereby sell, assign, set over artl t=.ansfer unto Commercial all of said rents, proceeds and incomes including any land contract payments ~e mortgage owners or arty other incomes of any type wt±atsoever from said property to be applied an the notes above-described; but said Canmercialshall in no case be liable for the faiEure th procure tenants. to collect rents, or to prosecute actions to recover possession of said premises. The Mortgagors further appoint Commercial of Omaha. Nebraska. their atiomey in fact, giving said attorney power irrevocably, either on its own name or Mortgagors' names to fake all necessary steps for proceedings m court or otherwise, io cause said premises to be vacated, to collect rentals or other incomes due, and when vacant, to relet the same, to make alt reasonable repairs and pay taxes out of said rents, profits, contract payments or incomes and to do all such things either by its own officers or bS' 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 above to be done at such times and in such manner and on such terms as to their said attorney may seem best, with full pmxer of su6sti#ution. The kbrtgagors hereby agree Lhat if Commercial either voluntarily or involuntarily becomes or rs made a party to any suitor proceeding relating to the hereinbeiore described real estate. or to this mortgage or said note or notes, other than a foreclosure instituted by Commercial, Mortgagors will reimhrrse Commercial for aN reasonable costs incurred by Commercial in said suit or proceeding. The Mortgagors further agree Nat if the herembefore described -real estate or any part Hereof be condemned under the power of eminent domain, or is otherwise acquired for a public use, the damages awarded, the proceeds for the taking, and for the consideration for such acquisition to the extent of the full amount of the remaining unpaid indebted- rress secured bi Nis mortgage, be, and they hereby are, assigned to Commercial and shall tie paid forthwith to Commercial to tie applied on account of the last maWring installments of such indebtedness. Wtedthrs ~_~ day of ?llit/E _,19~. 7 ~ Ui THE PRESENCE OP -~ Gr r ~ '~'~~ ~~ Ihr~yne U Spome~ ~rt"mil it-7 ;C'L, ' / ~' ~e~~'-~~? yif Glenna L. Spomer STATE OF NEBRASKA ss. COUNTY OF }ta3.1 On Uric Zb"~9 day of '~`r~E __~ , 19 E~, before me. a notary public in and for said County, personally came the above-named Dwayne L. Spomer and Glenna L, Spomer, husband and wife fo me welt-known to tie the identical persdn or persons whose name is or names aw affixed to the above mortgage as grantor or grantors and they, he or she, severally acknowledge the said instmment acrd the execution thereof, ro be their voluntary act and deed. r11~1t111Mw-twat ~~~~J, I my I~a~iis ay and year last above written. y MrCww-M Aw.341tM ~/~ Notary Public My commission expires on the ~s>f~ day of _tS~fr~,rtl1~-- ~ 192L.. M-50