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<br />_ UU42~1 EXPAi"~IDABLE 1ViORTGAGE
<br />~~ ~ ASSIGNiAENT OF RENTS Laan Nc. ~`~rL-e ___
<br />KNOW ALL MEN BY THESE PRESENTS: That Wayne L. Bennett, a single person
<br />Iheremafter caAed the tortgagors) in consideration df the sum pf
<br />Fort -Six Thousand and NO/100------------------------------------Dollars (5--46 000.00--)
<br />loaned ~o Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIAfiION of Omaha,
<br />Nebraska, (hereinafter called "Commercial"), its stccessors and assigns, the following described real estate, situated in the County of,
<br />Hall State of Nebraska, to-wit:
<br />Lot Thirty Two (32) Block Six (6) Unit Two Continental
<br />Gardens, ar. Addition to the City of Grand Island, Hall
<br />County, Nebraska
<br />TO HAVE AND TO HOLD THE SAME. w!m the appurtenances thereunto belonging. unto Cammerual. r!s successors and assrgns, forever.
<br />Said Mortgagors hereby covenant with sold Commerc!al, as suaessars and assrgns. that t~7acigagars are lawfully seized of sold premises, that
<br />they are free from encumbrances, and that they will forever warrant and defend the t!tle to said prem!ses aga!nst the lawful claims pf all persons
<br />whomsoever.
<br />Provided, nevertheless, thew presents are upon the fo!law!rg centlibpns:
<br />That whereas the said Mortgagors as members of Commercial have th!s date executed a note evidencing such loan and agreeing to reeay said
<br />sum of money, vim interest, in payments as set forth !n said note and have agreed to abide by the Perms of said note and Charter and BY-Laws of
<br />Commercial.
<br />That whereas this mortgage shall s?cure any add!fiona! advances. 'with mte!esf. which may, at the option of Commercial, be made by Con:-
<br />mercizl to the undersigned Mortgagors or their successors nr title for any purpose, at any time belore the release and cancellation of this mortgage,
<br />twi PROVIDED, HOWEVER, at na Line shall the aggregate principal amount secured by this mortgage. being the amount due at any time on said
<br />original pate and any additional advances made. exceed an amount equal to 11C percent of the amount of the original oats. but in no event shall
<br />said note exceed the maximum amount permitted h;' Paw. and PROVIDED. HOPJEVER. that nothing herein contained shall be considered as limiting
<br />the amount mat shall be secured hereby when advances to proiedt the security cr in accordance with covenants captained in the mortgage.
<br />Now, ii the said Mortgagors snarl pay er cause td bd paid me said sums or more}• wfien due, as set forth in sold Dote, and any Omer note for
<br />addibanal advances made until said debt is fully pa!d vim interest, then these presents shall be vo!d: otherwise, to be and remain in full force and
<br />effect; but if default should be mace:
<br />ia; In any of the payments due on sold nc4e. and any other pate for additional advances made, as hereon agreed to be made far three months, or
<br />Phi In keeping the imprdvemenfs da sold premises !nsured against lass by reason of Ere. lightning, and other hazards included in extended
<br />coverage insurance in an amount oaf !oss than the unpaid baiar.ce at card mortgage loan. on a company er companies acceptable ld C~m-
<br />mercial. fie original dt such pa~!n• or paGoes td be held by Cpmmerciai. and w;m a mortgage Uause attached to said policy ar policies.
<br />rn favor di l:ammerc:at; or
<br />!d1 to the payment of taxes and assessments lev!ed uprn card prem!ses. er do this mortgage. before they are dellnGeent or
<br />{tlr !f there is any change !n me cwnersh!e a` the real estaL- mortgaged herein, by sale, either oubrght or by land contract, or by assignment of
<br />any interest thereon or cmerw~isa: -
<br />thea. in any of the a',tare set-forth events. the wmo!e Indebtedness hereby secured shah, at the ophdn of Cpn!merc!a!. ommeorately oecome due and
<br />{uyable without further notice- and the amount due under sold note and any Omer note for adduianal advances made shall, tro;;; the date of the exercise
<br />pf said dptisn, bear interest at the maxima-! legs! rate per annum. and rots mdrtgage may then be foreclosed U sausty the amount due an said note, and
<br />any Diner note for additional advances. together wrbti a!i sums yard by Cammercrai far insurance. taxes. assessments and abstract extension charges.
<br />with raterest thereon from me date di payment at he maximum legal rate.
<br />PROVIDED tint in no event. Bather clef re ar efts' default. shall the interest due under said pate and ±his mortgage and any other note for ad-
<br />dihanal advances made exceed the maz!mum law^:i !ntrest rate.
<br />PROViuED. further, that rn C:e event ham; aafzu;t ecru±s !n the -along d the payments due do said nave, and ae any ether n.dte for additional
<br />advances, as therein agreed tc to ~;ade. e. ~- keeping the p:eTrises insured, as above provided, a i# default be ma::n the payment pf the taxes
<br />or asses&..ents levied upon the pree~aes abCn2~a=sallied e. uF~n th!s xmrtgage, afore they are b5• law delinquent, G?mn:a:c;a! shall be enhtied
<br />to the immediate possession of the p:emaes axv=-dose.bed- tcget",er wrm ail rusts- proceeds and iss! es ansing out df ha premises, and may
<br />rr, its discr_boa use the rents so fa. as !t d:eras -necessary i-, Lhe ~ ~rpese of mak;ng repairs upon ±he prer:ises and for the payment d. Insurance
<br />prmiums, taxes and assessments uppn sac.", presrs°s. arc f~,;: necessary expenses incurred in reni!ng said premises and coHechng rent therekom, and
<br />3n appry SZ:!S nn SaiA ndta and any ;iota<. ay;pmr!ng ?. _. - ~aS hera~nndar until Fro ;nnahf~dne5a .~Cdr°d is rL'liy pa!d; and tdr Seat! p::rppSeS,
<br />the ui9ers:gned does he spy sort as ~ > t ,r ; p ::. it w :m ~ a e,l of ,std sots, proceeds and !ncoraes nciuding any ;and sootiest
<br />pyr.!°irts due ,mortgage owners o any tfre:LIncomes cf am~^ e w•nauae4•er from sold prpperty to ~ apC!ietl on the notes above-descrbed: Hrt sold
<br />CMnme¢iatshatirn na rase be liable tar the fellers to pr:cup? ienan±s. is cpliect rents. dr '.a prosecute achcns [o recover possession of sa.d pcemoses.
<br />The Martgawa further appoint Comme:cra! of Omaha Nebraska. them attpmey m foci, gluing saw attpmey paver rrevocably, ether an its own
<br />name or Mortgacars' parses to ta?ti art necessary steps fpr proceed;ngs rp court pr otherwae. tc cause sold premises to be vacated, tc collect rentals
<br />o; other taca,Jes due, and whet, >,acant, to islet C:e same. to make a'-! seasonable repairs sad pay taxes out of said rants, profits. contract payments m
<br />incomes and to de all such things soar by !thaws. officers or try ache; partses auiy anthanzetl sad appamfetl by rt. as its agent far Bard purpose, and
<br />to drarge or pay a reasdaab!e f=_> far sure serr.ces. ail cf m_ apeve 4n "'2 lane at sacs 1;-res app m such rzrner and on s!:ch terms as tp their sold
<br />attpmey may servo best wits f:;Il 3pwer ar subshfiatian_
<br />Ise ktnrtg;gprs hereby agree tha€ .r t.-•:z¢:a' elt*,er voluntar:v ar mvalpnrar;!y Deccmes or !s made a carry to any swt ar proceeding relating
<br />to the t-,ereinbefpre destrrbzd tea'. e;thte c. ; firs -ortgage ar ~. .. ores aLher `;an a :`: _ sure rnsUtutcii Ira Camr,:ercial-Mortgagors w.!.
<br />rermhurse C~amercial for ail reasdnahfe cysts rncu:red E}~ Comm?;era!^!ncsa:cusu!± er proceeding. TneMortgagars catcher agree the: of the herernbefore
<br />!
<br />Gescdtzd real esthte ar any art ts;ecf ~ c adamned uncles the F,awer of a- Went dc~r,.ar or a atherwue acquired ur a public use, the damages
<br />awarders, the praeeeds for me taking. and for the cans~derauan fp= such acqu;srEcn to the extent of the full amaent of the remaining unpaid ontlebted-
<br />ness securest try this mortgage, ce. and they hereby are. ass~od to Commercial and sRali 62 pz;d forthwith is Cammereoal Ia be applied on a"rount of
<br />Ore last araturing insLNments et suM rndebt>dness.
<br />Cs~tt this Z+fJ1~ day c; ~J[.Y la ~.
<br />;N THE PRESENCE J~ t
<br />~~
<br />FATE OF NEBRASKA
<br />COUNTY OF Hall
<br />/"~;
<br />Wayn~~ett -
<br />On 9tis ?itlf~ day of ~~~ _._.-_ . 14 !~ . before roe, a notary ps:bl!c rn and Per said County. persanaHy cane
<br />the above-named
<br />Rayne L. Bennett, a singl<_ person
<br />person or persons whose name is ar names are afbzed to the above mortgage as grantor m grantors ono they, he
<br />r she, d instrument and the execution thereat, to he them voluntary act and deed. ~//7
<br />r 1 is day and year Last above written. ~`~~~~~~~'---
<br />~/ r{pr,r.. Pat,!!c
<br />My commission expires an me_~S`~ day ct A~_y_~ -__ . !5 6l_-. M d0
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