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79-/ UU4289 EXPANDABLE MGRTGAGE
<br />ASSIGNMENT OF RENTS Lear, No. _49435-0___._
<br />KNOW ALL MEN BY THESE PRESENTS: That Larry E. Williams and ,Mary Jeannine Williams, Trusband and wife
<br />(hereinafter called the Mortgagors) m cons+derat+on of the sum of
<br />Twenty Seven Thousand and NO/100------------°---------------------Dollars(3--27,000.00--)
<br />loaned to Mortgagors, do hereby gran!, bargain, soli and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION Cf Omaha,
<br />Nebraska, (hereinafter called "'Commerc+af"), its successors and assigns, the following described real zstate, situatzd in the Coun±y of,
<br />Hall State of Nebraska, to-wit:
<br />Lot Eight C8) in Block Cne (1) in Jenkinson Subdivision,
<br />Hall County, Nebraska
<br />TO HAVE AND TO HOLD THE SAPAE. with the appurtenances thereunto belonging. unto Commercial, its successor, and assigns, forever.
<br />Said f~mtgagors hereby covenant with said Cemmerc~al, its successors and assigns, that htdrtgagors are iawfuily seized of sa+tl premises, that
<br />they are free from encumbrznces. and that mey will forever warrant and defend the title to said premises against the lawful claims of all persons
<br />whomsoever.
<br />Provided, neverme!ess, these presents are upan the following condrtrons:
<br />Thai whereas fire said Mortgagors as members of Commercial have this dale executed a note ev+dencing such loan and agreeing to repay said
<br />sum of money, with interest. in payments as set forth in said note and have agreed to zbide b> the terms of said note and Charter and By-laws of
<br />Commercial.
<br />Thai whereas this mcrtgage steal! severe any additional advances, wim interest, xhich may. at the opticn cf Commercial, be made by Com-
<br />mercial to the undersigned Mortgagors or their successors m title far any purpose, at any time before the release and canceliafion of this mortgage,
<br />but PRGYIDED, HOY,'EVER. at nc time shall me aggregate pnnapai amdunt secured by this mortgage. being the amount due at any time do said
<br />original note and any additional advances made. exceed an amount equal to llt; percent df the amount or the anginal note. but in nd event shall
<br />said note exceed the maximum amount oermittzd 6y law, and PROVIDED. HOY'EVER, that Homing herein contained shall be considered as limiting
<br />the amount that shall be secured hereby when advanced to protect the security dr in accordance with covenants conta!ned in the mcrtgage.
<br />Now, if the said Mortgagors shall pay er cause to lx paid the said sums of money when due. as set forth in sa+d Hate, and any other note for
<br />additional advances made unfit said debt is fully paid with interest. then these presents shall be void: otherwise, to he and remain in foil force and
<br />~~4~ Aut it :lafv,lt chru.lA M ma(SP'
<br />` ?a!w In any of the payments due on said note- and any ether note for addibonal advances made, as therein agreed td t>e made for three rCnihs, or
<br />obi In keeping me improvements on said premises insured against loss by reason of fire, lightning, and other hazards included en extended
<br />average insurance in an amount not less than the unpaid beta^ce of said mcrtgage loan. in a company or companies acceptable to Com-
<br />mernai, the original of such policy dr policies to tie held try Commercial. and with a mortgage clause attached to said policy or policies.
<br />in favor of CommerciaC ar
<br />~c! to me payment of taxes and assessments levied upon said premises. cr on mil mortgage, before they zre delinquent; dr
<br />+.d? tf there is wry change in the ownership df the real estate ,~;drtgagec• herein. by sale. either outright or rot land antract. dr by assignment of
<br />aav interest mereon dr cmerwise;
<br />men, m any of me above set-forth eveufs. ilia 14ho+° indebtedness hereap secured shall. at me opticn cf Commercial. immediately become due and
<br />payable wimdut further nahce, arv3 the ameu~nt due ender said note and any Omer note for additdnal advances made shall. from the dale df the exercise
<br />of said option, bear interest at ate maximum legal rate per annum, and this mortgage may then be foreclosed fo satisfy the amount due ~n said note, and
<br />any Omer Hobe for additional advances, togemer wim all sums paid by Cammerdai for insurance. taxes. assessments and abstract eztensicn charges,
<br />with interest thereon from me date of payment at the maximum legal rate.
<br />PROVIDED that in no event, eimer before a-r after default, shall the interest due under said not? and this mortgage and any other notz for ad-
<br />drtiana; advances made exceed the maximum lawfu; interest rate.
<br />PROVIDED, former, mat in me event the= default acgrrs 'n the -ak+ag of me payma~'s due a. said note, and on any emer note for additional
<br />advances, as merein agreed to be made. dr in keeping the premises insured, as above drovitled, or if defauif Se made in the payment of me faxes
<br />ca assessr..ents ;?vied uyon the prer:,+ses ads^~ve descibed or open mil mdrigage, before they are trv law eaten^yue,+f, Commercial snai' L>e entitled
<br />Id the immaiiaie possession cf the premises ixvz-desrnSed, tdgemer with al! rents. proceP.ds and +ssues aris.ng ~ : cf me gremises. and may
<br />m its d!sc;etica use me rents so far as :t deems necessary for the purpose at ,~ak+ng repairs anon me premises and `•o' me payment of insurancz
<br />gremiua~s, fazes area assessments upan such premises and far necessary exoenses incurred +n renting said premises and ailecting rent therefrom, and
<br />to apply same an said note and env notes evidencing iuNre ad:ances hereunder unb! are indebtedness secured is fully paid; and for such purposes,
<br />me ;mdersrg<red does hereby set!. asrg:, set over znd transfer unto Com,merual a!I of said rents, proceeds anC incomes including any land contract
<br />payments due mortgage owners or any other !nromes of any h~pa whatsaev?r from sa+d pro-pe;ty to t>z applied en me notes atx?ve dolor+~d; trot laic
<br />Cammerciai steal! in no case ba liable ter me failure to pracuiz tenants. to callest rents, or tc presecuie achdns fd recover possession df sera premises.
<br />The MaRgzg~rs further appoint Cmmmeraa! of Gmaha. Nebraska. them atfi:ney .n fact, giving said atternef Dower irrevocably. eimer on its own
<br />name dr EGdrigagors' names to take all necessary steps far proceedings in court dr omerwise. td cause said premises to ~ vacated, td collect rentals
<br />ar other incomes due, and when vacant, td relet the same, to make a!' reasrrnabie repairs and pay taxes out of said rents, profits, contract payment; dr
<br />srames and L da at! such wings oimer by its own officers dr vy diner parbz; duly aumor!tzd and appointed by il. as ifs agent for said purpose, and
<br />to Charge ar gay a reasonable fee f,r such services. off ei me atx;ti~a r be done at such tieses and rn such manner and an such terns as fo their said
<br />attdmey may ~ best, wim fLli mower of subshIDhon.
<br />fie a~rtgagots hereby agree that +f Commercial BiU",er vdVuntar„v or ;ovoluntar.!y tkcdmzs o::s mzde a parTy tc an, su+t ea proceeding relating
<br />to the hereinbefcre described real esiatn=. c' :: this mortgage or said c--ote dr antes. ether man a fore,:losure inshtuicrd by Ca:^mercia!. tdortgagdrs will
<br />reimhrrse Car-nmz;cial for at{ r:asm!ab!e cars incurred tr Commercial .n said Sli! dr proceeding. The'dd!gagers irtmer agree mat !! me hereinbefnre
<br />~scrihed teat estate dr any parf meredf ;x cmdanned ender ma ;:veer of ~ninent de.-4a+n, dr .s otherwise acquired for a public use, the damages
<br />awarded, the groceats #or me taking. and ter me consfdzrat+dn far such acgmsrtion to the extant of the tuff amdunt df me remaining unpaid indebted-
<br />ness secured ty ibis mortgage, he, and They Sentry ors. assigned ':a Commercial and shat' be pa+d idrmwith tr Cammercia! to be applied on account of
<br />the last rgafuring installments of such indebtedness
<br />Daffitf this ~t11' day of .TJidJ~ _ ;g ~.
<br />!N THE PRESENCE 0~/~' 1~"-
<br />G 4VV"" y E. -illiams
<br />M-~ ine Williams
<br />ATE OF NEBRA~(A
<br />S5. -
<br />COttNTY 0} Hall
<br />Dn this -~/w day of ~1f/~ .__ , !9 ~ before me o notary public +n and for said County, personalty came
<br />fire above-named
<br />Larry E. Williams and Kaz')' 3eannine Ailliams, husband and wife
<br />t e welt knrnrn m t8 llre !den I person or persons whale name is or names are affixed td the a6~ove mortgage as granbx cr grantors and they, he
<br />id instrument arnl the execution merenf, tc be their voluntary act aad deed.
<br />E ~~ t is day and year fast above Hrittnn. %~~~~~~~ ~,/~~ ~~
<br />Notary Public
<br />My ammissidn expires do the ~~~ day of L~iL6T __ . jy ~. M 5i'
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