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79-Ult~(~y5 EXPANDABLE MORTGAGE ASSIGNMENT OF RENTS Loan tdc. _ 494„3-4 _ KNOW ALL MEN t;Y THESE PRESENTS: That Dale R. Miller and Lois A. Miller, husband and wife Thirt Thousand and NO/100--------__ ___- (hereinafter called the Mortgagors} in consideration of the sum of Y '----~ _`-'----`Doi(arstS--00,000.00--} loaned to Mortgagors, do herebyy grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha, Nebraska, (hereinaffer called "Gommercrai"), its successors and assigns, the following described real estate. situated in the County of, Hall State of Nebraska, to-wit: Lot Three (3) in Block Twelve (lc) in Boggs and Hill's Addition to the City of Gra:,d Zsland, Hall County, Nebraska TO HAVE AND TO NOLD THE SAPAE, with the appurtenances thereunto helonging, 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 zgainst 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 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 by the terms of said note and Charter and D`/-Laws of Commercial. That whereas this mortgage shall secure any zdditionai advances, with interest. which may, at the option of Commercial, be made by Com~ inertial 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 110 percent of the amount of the original note, but in no event shall said note exceed the maximum amount permitted by law, and PROVIDEG, HOyIEVER, that nothing herein contained shall be considered as limiting the amount that shat) be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage. Nnw rite said ;ortga~,rs she I pay c cruse o ~ poi the said sums o. ,~ onay when " s set orth in ° - d any ether rwie .ur additional advances made until said debt is fully paid with interest, then these presents shall bewoid: othernise, to 6e 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 awances made. as therein agreed to be made Ior three months, ar (h) 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 [o 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 payment of taxes and assessments levied upon said premises, or 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 inie[est thereon or otherwise; - then, in any of the above set-forth events, the whole indebtedness hereby secured shall, ai the potion of Commercial, immediately become due and payable without further notice, and the amount due under said note and any other note for addi tional 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 he foreclosed fo satisfy the amount due on said note, and any other nose 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. 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- ditianai advances made exceed the maximum lawful interest rate. PROVIDED, further, oral in the event that default occurs in the making of the payments due nn said note, and on any other note for additional advances, as therein agreed tc be made, or in keeping the premises insured, as above provided, or ii default be 'lade in the payment of the taxes or assessments levied upon the premises above described or upon this mortgage, before they are try law delinquent. Cz^.merciai shall be entitled to -the immedia#e possession of the premises above-described, together with all rants, proceeds and issues arising out of the premises, and may in its discreban use the rents so tar as it deems necessary for the purpose of making repairs upon the premises and far the payment of insurance premiums, taxes and assessments open such premises, and for necessary expenses incurred in renting said premises and collecting rent therefrom, and th apply same on said ante and any notes evidencing future advances hereunder until the indebtedness segued rs fully paid: and for such purposes, the undersigned does hereby sell, assign, set over and transfer unto Commercial all of said rents. proceeds and incomes including any land contract payments due mortgage owners or any other incomes of any type whatsoever from said property to he applied on the notes aoove described; but said Commercial shat) in 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 attorney power irrevocably, either an its own name or Mort~gors' names to take al! necessary steps for proceedings in court or otherwise. to cause said premises to he vacated, to collect rentals or other incomes due, and when vacant, to relet the same, to make all reasonable repairs and pay taxes out of said rents, profits, contract payments pr inwmes and to do all suer things either hY its own officers or by other parties duly authorized and appointed by ii as its agent for said purpose, and to charge or p.-y a reasonable fee for such servrces, alt of the above to !e done at such times and in such manner and on such terms as to them said ati,rrey may seen best, with furl power of soffitib:iion. fie RrArtgagotS hereby agree that if CaTmerctai either voluntznty or involuntarily becomes or is made a pinny to any suitor proceeding relating to the irereinhefore described real estate, or A~ this mortgage or said note ar notes, other than a foreclosure instituted hY Commercial, Mortgagors will reimburse Commercial for alt reasonable costs incurred {ry Commercial in said suitor proceeding. The Mortgagors further agree that iF the herernbefore described real estate or any part thereof be condemned under Lhe 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 acquisit!on to the extent of the full amount of the remaining unpaid intlebted- rress secured by Urrs mc+tgage, be. anG they trereby are, assigned to Commercial and shall be paid forthwith to Commercial to be applied on account of the last maturing installments of such indebtedness. .7~ Dakd this~~day of ~tJif/E 19_ll. ~ ,/ IN THE PRESENCE OF: c _ ~" ~ __ Dale R Hiller ~~~~ pis A. Miller STATE OF NEBRASKA COUNTY OF ss. Hall ~ r~ Dn this Z75'rf! day of - ""~+~= __ , t9 79', More me, a notary public in and for said County, personally came the above-named .Dale R. Miller-and Lois A. Miller, husband and wife ar she, ~ ~ person or persons whose name is or names are affixed to the above mortgage as grantor or grantors and they, he ^G id inst[umert and the execution thereof, to be them voluntary act and deed. ~~ I~ this day and year last atx;ve wrtten. ~/F~ ~/J~~A/'s ~~ ' w - Notary Public My commission expires an the __-5c-_LlL-day of 1rU~ UST _ , 19 ~ M 50