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<br />79- ~C-44QQ EXPANDABLE MORTGAGE
<br />ASSIGNMENT OF RENTS Loar. No. 821328-g ____
<br />KNOVd ALL MEN BY THESE PRESENTS: That Joyce J, Gay, a si gle erson
<br />(~iereinafter called the Mortgagca) m consideration of the sum et
<br />Twenty-Four Thousand Seven Hundred Fifty and NO/100----------------0ollarsiS --2V 750.00--)
<br />loaned to Mortgagors, do herebyy grant, bargain, sell and convey unto GOMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br />Nebraska, (hereinafter called "Commercial"j, its successors and assigns. the following described real estate. situated in the County of,
<br />Hall State of Nebraska, to-wit:
<br />The Easterly Twelve Feet (12r) of Lot Twenty Seven (27)
<br />and the Westerly Thirty Seven Feet (37') of Lot Twenty
<br />Eight (28), in Buenavista Subdivision, in the City of
<br />Grand Island, Hall County, Nebraska
<br />TO NAVE ANp TO HOLD THE SAME. with the aGP•!rtenances theretmtc belonging, unto Commercial, its successors and assigns. forever.
<br />Said Mortgagors hereby covenant w,th said Commercial, its successors and assigns, that Mortgagors are lawfully seized of said premises, that
<br />They are free tom encumbrances, and that they vnll forever warrant ana defend the title to said premises against the lawful claims of all persons
<br />whomsoever.
<br />Provided, nevertheless: these presents are upon the following conditions:
<br />That whereas the said Mortgagors as members of Commercial have this date executed a rote evidencing such loan and ogreeing to repay said
<br />sum of money, with interest, in payments as set forth in said note and have agreed to chide by the terms of said rate and Charter and Bl'-laws of
<br />Commercial.
<br />That whereas this mortgage shall secure any additional advances, with interest. which may, at the option of Commercial, be mzde 6y Com-
<br />mercial to the undersigned Mortgagors ar their successors in title for any purpose. at any tia~e before the release and cancellation of this mortgage,
<br />bid PROVIDED. HOWEVER. at nu 6me shall the aggregate prnupal amount seared by this mortgage. being the amount due ai zny time en said
<br />original note and any additio-nal advances made. exceed an amount e;;aa! to 1!0 percent of the amount of the enginal note. but m ne event shat{
<br />said note exceed Cho maximum amount permitted by law, and PROVIDED. HOYiEVER. that ncCnmg herein contained shall be considered as limiting
<br />,ne amount that shall be secured hereby when advanced to prefect t1e sen:nty o' m accomance with covenants contained in the mortgage.
<br />New, if the said Mortgagors shall pay or cause t, bz tad ', sa,c 5u-> :::cncv rye :;ue. as set furfli m sa,u note, a,,d any uuiet Hate fur
<br />additional advances ;Wade until said debt is fully paid with mteres hen these , esents shay, be void: otherwise, to be and remain in full force and
<br />effect: but if default should be made:
<br />ai in any of the payments due cn said note. and any ether not= fa, aud~tiena~. aev~aces .mace. as therein agreed to be made for three months. ur
<br />i6+ In keeping the improvements an said premises insured against loss trv reason cf `re. lightning. and other hazards included m extended
<br />coverage insurznce r.. an amount not less than the unpa,d baiznce cf sa~.o marigaga !can. ru a cemuany er companies acceptable to Com~
<br />merciai, the original of such policy ar policies to ~ held br' Coin=,e!dai cad with a mortgage clause attached to said policy ar policies-
<br />in favor cf Gemmercial: ar
<br />., In the payment of taxes anal assessmen~ levied upon sa d premises. _~ on this mergage. before they are del+nquent ar
<br />;d. If there is any change in Cne ownership of the real estate mortgap c herein- by sale. e+the; ~aet:~ght or try land canGact, m by assignment of
<br />any interest thereon ur otherwise;
<br />then, in any of the above set-forth events, t;,e wh7:a ~ndebtedr.ess t;ereby secured shall- at the option of Cun,,merual, immediately became due artd
<br />payable wiffiuu1 further aei!ce, and the amount due Hader sago note and zny adter Hate far aiA!borlai advances made sha':i, from +he date of the exercise
<br />of said epti~- bear ,nterest at the maximum legal rate per anr:ue,- and This mortgage may flier, be .`oreclused is saLsfy the amount rue ue said note, an6
<br />any other irate for additional advances. together w;th a!. su!r~s ;aid by CaTmerc+a! far insurance, taxes. assessments and abst:aci extension charges.
<br />w,th interest thereiki from the crate of payment at the .^ax,r!cn ~:egz! rate
<br />PROVIDED that ;a nu ev,?nt. e;the: ;tefore or after d<'Sauit sham Me ~nte;est due under said note ana ilia mortgage 2nd any ether note fur ad-
<br />ditieral advances rode exceed the maxir:cam !awfu' -~nerast ~a`:e
<br />PROVIDED, fLrlhe:. thzr ^ ;ne eve= ~ ~ ccu~s in _ °aK~ng c the ;aymen?s doe or sa:e+ _ _, ana an any ether not= for adds banal
<br />aovarces. as t.7ere{n agree _ be ~ atle. .. ~'2:^+ T-ses rs.,•c~:. as zix:va ^ deJ. a it cafe,.'; s ^ ~ie in me ;aymant of the faxes
<br />,.r assessmeas .eyed u~±n the G'2m;s_s „~~ve aes~r_'+?d _ _:.. -- ~t;cgz_ he'a.e~th=~ a~e by iav+de,meuent. i,~' -nrcial shall be entitled
<br />eo the ir^;1ed:a'a ~ ssess.~,.. ~ . .sas a~~+e ??s.• rk! ~ _ _ .. ?;its p ce=_ds and ss!es ar s.rs alit ! the promises: and may
<br />in i:s d,stret+an. use Gre rents sc- far~as ,; cee-:s necessary `., ~:e p~:;o->2 of ~a~.:rag reca,;s ~rc~,•n the crem+ses aatl for the payment of insurance
<br />prDr:iums, +axes and assessmana u~an such prer:,:ses. and f,,, necessary =xpenses incurred rn rent~,ng sa,d prem:sas and collecting rent therefrom. and
<br />%: 'apply sue,? 7 s~ e arm an, notes eraerc. - .... ~ _,...... .~ ~. rho :. n> ~r-ess _--- _ f _r a+d and fu+ vrh p!rr,ases.
<br />the undersigned oats f,eretry set;. assie set :er and a..>:_, ~ _ _ xtl =r, s ~„tl . ~s, _> i.,c.~din, acv fond cmnfraet
<br />p=yr!enis are N;tgage owaer> or any oth n .mes y ice vh_,s._.e said prat . ?~ ap on the notes above-descrrLretl: but said
<br />Gammwda! shaliln ~ case he lah;a icr the tadcre to procure ?ena^ts t_ ! .~etrt rents. a' i, , _eate act+rs-tu ~ecaver passessmn of sa=d promises.
<br />The Mo;igagurs further appoint ~mmeraal of Oa~,aha. Nebras~a. ?Herr attorney- ,n iaC gr;~~-g 53rd at?orney power rrevocably. either an its owr.
<br />rN'14.-' ai tfUrt~gJrS' names t0 take at! nece55a'y 5t2p5 ri oceedingS =9 Call ~ :" OUher/•!se Tc Cause Sa,C p32m,S25 t0 `Y vacated. fa COHBCt [an~iS
<br />or oilier iucames due, cad who.^. vacant. ie raiet Cho sa:^:e ~''. ,m,ae a!~ reas~na6ie ~eea,rs an-a coy taxes cut cf said rents. profits. contract paymenU ar
<br />incomes and to da alt such things either h,~ its owm officers ur Sy agar pa;t>s du?y aath~!=¢ed and appciatea by~ it, as its agent far said purpose, and
<br />to charge oc pay a raasanable fee for sur, services. ail of th? a~v2 to ce cove at iv:h byes and ': suc*: r,anne: and on such terms as is their said
<br />attarner may seem best, w,th fu.! oo+e~r •-f subsbn:?tar,.
<br />The A1o?tgagar, hereby agree drat if t,a ,al z, --unto .,~ n+n . ~ ~ ^ e ..~a v r; > ,r proceeding relating
<br />u fie F,?rwnnefo:e descrv+.xd coca esbt=. ~ _.'s m..E~ge , sa _ ..r ~_.. - _ue :tic ~~.>•~ _ e~ try ~ e~c,a' ' u•tgagu:s will
<br />re!mbu;se Commercial for aI! reasanab!e c.,s:s ._ur:ee "*d CuT~e-c _ ., - .ceec T .. ~~o. > ~ t,ar agree that .r ;bee nereinoefore
<br />c~scnbed rP~f estate m any gait iheree be condom: r~ un,;,- thr ewe of r Wen, _~mar . - ~=rw se acq,.,red f_r a pahl ~ !se, tl:e coinages
<br />mretded, the prxeeCs for the taking. cad far tine csns¢~:at:x^, for such aoqu~s+bon to Cie ex`:ent of the tuff amm;nt at the rer!a:r.:;;g unpa+d indebted-
<br />ness secured >N this ~rfgage- 6e, artl m~, hereby as asc~ed to Cr,~ me~c~ai aatl shalt re paid t;rthwa tc Coin-arc:ai to be applied an account of
<br />L"refasimaturin-.n ~menis=suchinC2h dre-
<br />Oatetl tlrrs-_tlay of ' ~. ~n ~~--- ~- ~~
<br />iN HESENCE flF: ~!"-dx G' '~''~~ ~ --
<br />oyc J. ay
<br />STATE OF NEBRASKA
<br />ss.
<br />COUNTY OF
<br />?iAll
<br />fln this day of _.
<br />tt>eaa°ve-named 3o ce J. Ga
<br />y y, single Person
<br />AANOiD D. WED
<br />~ E,p, Ocw_ 1T. tY7f
<br />A1lNESS my hand and Notarial Seat this day and yea{ d1'n4ef~
<br />-~__
<br />~~ N:,r_,e, r
<br />FAy cemmission axpkres an the.. t..-'Jay ct 1S ~~ - ~`--- ~r'~~
<br />i9 ! -jbe`are ire. 3 notary pub#+C in and ter said County. per=_onally came
<br />m me weH known to be the identiraf oerson ar persons whose name is ar names ar to the above mortgage as grantor or grantors 3nC they. he
<br />m she. several?y acknow4edge the said instrument and the, x•~II~~IOff!W6•~fluntarr act and deed.
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