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<br />
<br />STATE DF NEBRA51tA
<br />COUNTY OF Hall ss. -
<br />day of ~
<br />~ ab~over ~n~ '~"'"~ 197. .More rr-e. a notary public in and far said County. persana!Iy came
<br />Gordan L. Es}{~un and Ruth A. Espelund, husband and wife
<br />Ta me wolf known to be fie identical person m persons whose name is ar names are off+xed to the above mortgage as grantor or grantors and they, he
<br />ar she, severatiy acknowledge the said instrument and the execution thereof, to be their voluntary act and deed.
<br />WITNESS my hand and Nothrial Seal this day and y~~ ~HERp~ / 1
<br />~--~ Nelar; Puhht
<br />My commission expires on the ~1 day of ~z-_{t~_ 19 ~~ M-50
<br />i1t14249 EXPANDABLE MORTU`ACirE
<br />79'..I ASSIGNMENT OF RENTS Loan Nd. 49437-6 __
<br />KNOW ALL MEN t3V THESE PRESENTS: That Gordon L. Esgelund and Ruth P.. Esgelund, husband and
<br />wife (hereinafter called the Mortgagors) in consideration of the sum df
<br />Fort -Mfour Thousand Nine Hundred and No/100---------------------- Dollars (S 44 900.00----)
<br />loaned ~o ortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSO~IATIGN of Omaha,
<br />Nebraska, (hereinafter called "Cemmercial"), its successors and ass+gns, the fullovring described real estate, situated in the County ef,
<br />Hall State of Nebraska, to-wit:
<br />Lat Ten (10) in Hidden Lakes Subdivision Number Two, being a part of
<br />the Southeast Quarter of the Northeast Quarter (SE~.,NE~) and apart
<br />of the North Half of the Northeast Quarter of the Southeast Quarter
<br />(NzNE~SE'-s) of Section l3, Township 11 North, Range 9 West of the 5th
<br />P.M., Hall County, Nebraska
<br />TO HAVE AND TO HOLD THE SAA1E. with the apourtenances thereunto belonging. unto Commercial. its successarsantlassigns,!orevzr.
<br />Said Mortgagors hereby covenant with said Commercial, its sir^cessors and assigns. that Mortgagors are lawfully seized of said premises, that
<br />they are free from encumbrances. and that they viii forever warrnt and defend the title to sold premises against ;he lawful claims of all persons
<br />whomsoever.
<br />Provided, oevertheles;, these presents are upon the following condriicns;
<br />That whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing to repay said
<br />sur,, of money, with interest, in payments as set forth in said note znd have agreed td abide by the terms of said note and Charter and Dy-Laws of
<br />Cemmercial.
<br />That whereas this mortgage shall secure any additional advances.:v+lh interest. which may, ai the option of Commercial. Lie made by Com
<br />menial to the undersigned Mortgagors or their successors in title for any purpose, at any time before the release and cancellation of this mortgage,
<br />but PROVIDED, HOWEVER, at no time shall the aggregate pnncipal amount secured by this mortgage, being the amount due at any time on Bard
<br />original note and any additional advances made. exceed an amount equal to 110 percent of the amount of the orfgmal pate, but in no event shall
<br />said note exceed the maximum amount permitted by law. and PROVIDED, HOt"iEVER. that nothing herein contained shall 6e considered as limiting
<br />the amount that shall 6e secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage.
<br />:~ • if v'ti sad "ortga~rs sFail pay or c vse a :~ paid t. sat ;mss of rsney when due, as set farrth in said note. and any Omer note for
<br />additional advances made until said debt is fully paidrwith rnterest~then These presents shat! be void; otherNise, to be and remain in full force and
<br />effect; but if default should be made:
<br />{a) to any of the payments d~!e on said note. and any other note far adCitional advances made. as therein agreed to be made for three months, or
<br />(b) !n keeping the improvements on said pre"Tiszs insured against Toss by reason of fire, lightning. and other hazards included in extended
<br />coverage insurance in an amount mot less than the unpaiC balance of said mortgage loan. m a company or companies acceptable to Com-
<br />mercial, The original of such policy ar poLC+es to *,? held 6y Cammeraa!. and with a mortgage clause atiachztl to said policy or policies,
<br />in favor ofi Commercial: or
<br />!ci In the payment of taxes and assz;;.•nzots izred upon ssd ;rerszs. ar oa this mortgage. bzfore they are dal+nquent; dr
<br />{di If there is any change m the ownzrsh~e of the real estate -!~rtgaged harem, by sale. eitfier outright a ~' land contract, or by assignment of
<br />any interest tlte.eon cr otherwssz: _
<br />then, in any of the above set-forth events. the whdiz ~ndebfadness hereby szcu;etl shay!. at the aphon of Commercia?, immediaie!y tsecome due and
<br />payable without further notice. and the amo',rnr due under said na?=. anC any other note far adtlrtsonai aCvances made shall, tram the date of the exercise
<br />of said option, bear interest at the maximum legal :ate per anrum. one this mortgage may Lien tx foreclosed ±e sat+sfy The amount due on sand note, and
<br />eery other Hate for additional advances. together w+dr a!I sums paid by Cammz:aal for insurance, Loxes. assessments and abstract extension c-barges.
<br />wifi interest thereon trmn the date cf payment at the mazsmum legal rate.
<br />PROVIDED Tat m no event, either before ar after defau~t. shalt the interest due antler said note anC this mortgage and any other note for ad-
<br />difwnafadvances made exceed the mazsmum izwfui interest rate.
<br />PROVIDED. further, that in the event ttat dzfau!f acrrs ±n the making of the payments due en sand nets. and o+: any other note for additlunal
<br />adsanczs: as therein agreed to bz „ode, _° in kezpmg 7e pre:?asses !nsured. as above crerdeG. or if default ~ !-;e in the payment of the taxes
<br />cr assessments touted upon The premisz<_ zbevr descr,b?c dr ups}. C::s mortgage. aefdre Lhey are try law del+nquz~'. Commercial she!! be entitled
<br />to the immxtiaie possession of tiro premises abov:-0esr.it~;. too ;.",e; ~rr5h a!1 rams. pro"eeds and sssu?s arising out of the premises, anC may
<br />in its disuetion use the rents sa far as if deem=_ nece<_szrp f~ drz ~,pase df mzking repairs upon the pren~ises znd Ter the pzyment of insurance
<br />premiums, ;axes and assessments upon such premises. and for necessary expenses mcurztl in renting said premises and collecting rent therefrom, and
<br />th apply s~nz err said note arM any notes evidencing fuL;re advacces hereunder Until trio indeht?•~tes; secured is fu"!ly paid; a.^.d for s;;:b V:r~,ses,
<br />the undersign ed dues hereby s°ff. assign, ref over a ansfer unto Gommercrai a1! of said rent, proceeds and incomes iniiuding any Eand ccnt:act
<br />payments due mori~ge owners or aiy other incomesn,f any ty,~ w~hztsoever from sziC prdpzrty to t~ applied ar. the notes above-described: tort card
<br />Canrmzrcizl shall m no case be ±iab!z far the failure to procure tznar,U to co!'ect :enls. ar to prosecute actions to recover oo<session of szitl premises.
<br />The Mortgagors furttrer appoint Cammeraai of 0raha Nebraska thr~ attomzy !n fact. giwng said attorney paver irrevocably. e+Hter an its own
<br />name cr Athrtgagars' names to take af! necessary stems for paocxd:rg; in court o ainzrw!se. to cause card premises to he vacated. to collect rentals
<br />or other incomes due, end ;vhen vacant, td re!et tie ;zre tc Takz a! :zasonab!z repo rs and pay taxes out of sold rents. profits, contract payments or
<br />inwmes aril to de al! such things zrGrer by i¢ oven :`t;[ers or by oti,er partse; duly zuthonzed and appo+nted by it. as its agent for said purpose, and
<br />fa charge or pay a reasenabte fez ter soul services- a!' rf the a2,vz *--a De ~:ne ?t siren t.mes and in such manner anC an su,h terms as to the+r sand
<br />attorney may best, with fu.; power of sutshtno~-
<br />Tfre f~rtgagars hzrehy afire? t*a rn ~ +a r'hr n sv r a~` riy xc~Tes or is aLe a part' to aTy suit nr proceeding relating
<br />fa the hereinhefore desert' w+r rea{ e_r~,_ ., t~ 'n ~ .gig= ^ .,,e n. res. aLher tie; z `ire : ur. instiiLtzd try Cc~r ~zrciai Rldrtgagors will
<br />reimturse Commercial far alt reaso;ratriz cast ircu. _d by Comi^er~ a' :n szs~ v t ar ><xeed:rg Tre S r;gagors furher agrze that !f the herernbefore
<br />ri?scribed real estate or any part Lr+>?redf ~ c~nCz--ed undo, ne ,.awe; :;; ?n;;ne."? ~~main. or is otheiwrsz ar_qu,red for a public use. the damages
<br />award, the prrotxeds for the tabng, and for the conssderabon far ;rich acqu!s+ha. to the extent cf the tali amount of the remain,ng unpaid intlebted-
<br />ness sewr~ by this marigage- bz. ~a1 they harzby arz_ assig-red to Ca-aercrai and shall r,P paid farLhwith to Commorcial to be applied on account of
<br />the last maturing inshat,menis of sutlr indebi~dnes_
<br />E3afed this a~~--r~ day of ~r rq_ ~ ~ a~~~~~
<br />tN THE PRESENCE OF: `~ ~
<br />~,~' ~ ~ ~f> a Gorr- ,y~elund
<br />Ruth A. Espelund
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