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<br />]g~•• (sG44O2 EXPANDABLE MORTGAGE
<br />ASSIGNMENT OF RENTS Loan No ._.itgr+_3r3-2___._
<br />KNOW ALL MEN BY THESE PRESENTS: That David J. Faimon and Barbara A. Faimon, husband and wife
<br />(hereinafter called the Mortgagors) in considerztian of the sum df
<br />Fifty-Five Thousand Six Hundred and NO/100------------------------DoBarslS--55,600.00--)
<br />loaned to Mortgagors, do hereby grant, bargain. sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br />Nebraska, (hereinafter called "Commercial"), its successors and assigns, the following described real estate. situated in the County of.
<br />Hall State of Nebraska, to-wit:
<br />Lo't Twelve (12), in Block Four (4), Olde Mill Subdivision,
<br />City of Grand Island, hall County, Nebraska
<br />TO HAVE AND TO HOLD THE SAME. with the appurtenanczs thereunto belonging, unto Commercial. !ts successors and assigns. forever.
<br />Said Martgagnrs hereby covenant w!Lh sold Commerual. !ts successors and assigns, that Mortgagors are lawfu!iy seized of sold premises, that
<br />they are free from encumbrances; and that thw w!11 foever warrant and defend the title to said premises against the lawful clams of ail persons
<br />whomsoever.
<br />Provided, nevertheless, These presents are upon the fcllerving cnnGtiens:
<br />That whereas the said Mortgagors as members df Commercial have this date executed a note evidencing 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 abide by the terms of said note and Charter and By-Laws of
<br />Cnmmerciai.
<br />That whereas this mortgage shalt secure any addibonal advances w~fi !n[erast, which may. at the notion of Commercial, be made by Cam
<br />menial to the undersigned !ACrtgagors or ;heir successors in title for any pwpcse. al any b,ma before the release and cancellation of this mortgage,
<br />Dot PROVIDED. HOWEVER. at no time shall the aggregate prinapal amount secured by C s mortgage. being the amount due at any time on said
<br />original note and any additional ad+ances made. exceed ar, amount equal to ! 10 percent of Ne amount of the original note, but in no event shall
<br />said note exceed the maximum amount permitted by taw. and PROVIDED. HOk7EVER. that nothing hare!n cpntame0 shall be considered as limiting
<br />the amount that shall be secured hereby when advanced to prntec; the security or in accordance w!th covenants certained in the mortgage.
<br />Nave, if the said Mortgagors shah pay er cause to ire paid pie sat s.-s ;,` r;on .~x, duo. as set forth in said note. and any n}Ter not°- f"-r
<br />add+bonaf advances made until said debt !s fully oaid with !nteres[. thenvM2se presentsshal!~be void: niherxise, to be and remain in full force and
<br />effect: Dot d default should be made:
<br />:a' In any df the payments due on said note. and any other note for adadionai advances made. as therein agreed to be made for three months, er
<br />b? 1n keeping the improvements an szid premises insured against loss by reason ct fire, lightning. and other hazzrds included in extended
<br />coverage insurance in an amount not less r}!an the unpaid Dalarce of said mortgage loan, m a company or companies acceptable to Com-
<br />maroa?, the anginal a# such policy cr policies to be held by Co ~:rerc:zi, and with a mortgage clause attached to said policy nr policies,
<br />in fever of CAmmarcraC dr
<br />,~: In +.na payment of +axas and assessmen~s levied upon sz!d premises. -_: cn th!s mortgage. before they are de!mquent or
<br />idi !f Hers !s any chznge in the owreship of ibe real estate mdrtgzged herein, by sate, ether eutight ar bs ?nod contract, or by assignment of
<br />ary interest thereon or otherwise:
<br />then. in arty of the above set-forth events. the ;vh5i2 ~ndabtedness hereby secured shall. at the opi!on of Commernal. immediately become due and
<br />payabfa without further notice, and the aTaunt due ;ode said onto and any ache note far add!hcaral advances made shots. from the date df the exercise
<br />of said option, bear interest at use maximum legal rate per annum. and this mortgage may ~~en x fareclnsed td satisfy ±ha amount due an said note, and
<br />any other note for additional advances. together with al! sues eaid Dy Commercial for irsurance. taxes, assessor„ent<_ and at¢t:act extension charges.
<br />with interest thereon finm the date dt paymen[ at Lhe :nazi-r.um legal rate.
<br />PROVIDED that ;n no even',. either before cr attar default. shall the interest due under sold note and the mortgage and any other note far ad
<br />ditionzt advances made exceed the maximum law?_'~ !nterast rate.
<br />PROVIDED. further, :hat in the evert that Eesacit :,:curs m the Taking of the payments due cn saidnate, and er: ar^y other note for additional
<br />advances, as therein ao 2ed to be mad:. or in kaan;ng •+:- promises insured. as above ~uovrdac. ar if dafauit De rude in the Faymart of the taxes
<br />ar assessments levied upon 51e premses above desrrbed~or upon this maagage. before they era by law del6ngaent. C.----ertial shal•. !n anhtled
<br />to use i:rmediata possession of ate pro: isa~ a~:va ws:_riYd. r-i?ethe ~nith a.! rents. ;needs and ~ss.,es arit~ro u; _' the premises. and :may.
<br />in its discretion use the ;ants so tar as :+, deems -acassary fr the purdsa of c.aktng repairs aeon the pre:uses aid for the payment cf insurance
<br />p;amsu~~s. taxes and assessments open such premises. and fey necessary expenses insured :n renting said premises and cellecbag rent theiefrnm. and
<br />pp!y ~~ n ~!d n,ta and any notes avdanciag `::lure advznces haracnder anti; the indebtedness secured is fully paid: and for such purses.
<br />therunders;gned dx_ ,~creLy sell- ass g:: sa, ~.Mt and ; a srer u `c a! a.. n` sold •ents. proceJds and !nn<N*.s ,n..Jd:ng any tend contract
<br />payments o:;e martgag2 owners ~. any ether !aromas of and: ±ype w:Tatscever fro-, sold p arty to Da app!!ed 7n the notes above-described: Dot said
<br />Co-^runercla; snail mr,, case De irb'-e tar the failure :o pncu re tenants- to cohact ants. cr t. , sacute act:~cs to recover pcs=ess!on of said premises.
<br />fie AEnrtgagurs h;rther appoint Commeeial of Omaha, Nawask? ttr:r atiomay !s fact gtv!ng solo atmrnay power ,rrevdcaDiy. zither on its awn
<br />name or kforigagars' names to taxa ail necessary steps tdr _.ceetlings ~n court or oL".err.~!se F_ cause sa~.d przT-!se> e nc ^ra:atee i. collect rentals
<br />ar other ircnrti date. anG wT,en +atant t? reset the sac. L -ma4e a;. r,as~ .aD'^_ _o_ s a°d pay razes ar : ° sa^c rents pr;rets contract payments or
<br />incomes aced to Gn zll such th!r:gs aitt~?: Dy iG own officers or Dy other parties dciy auth;~:¢ea a-d apccin:ed `ri n a its ages; `_r sold Purpose. and
<br />to charge c= pay a *eas-onzbie tea far stt,h serve,.=s. a i p' L're a~-+~ ._ ~ .a e ~t s.,~ a b^~e~ a d m sum .-ar 2 a ' ~f such tars as t~o the • said
<br />attorney may sa~* Est with cal! 2.wa. of su 4st!~^Lpr=.
<br />The klcKgagrs hareDy a>;'e >^at ._ .~ , _:al ~ i`e ~. L,'3 ~ _ ,.eJ _ ~,v '_u_c ~ ~ :. ~: r , .~ ..:. t ~teeduag ~a:acing
<br />in "e hetinhaf,ra des;••IDe~ so: as,at ~ .Sas_ .. sa . _ : _.a~ _.. . - s~ _ , .} , tJ_ _ _•s w!Ii
<br />7a+m~7r5e Ca-„,n`ei C,dl to' a~i ;aaSnna L.:.JS;i :. _.. ,,...,2: _,,.:.. 3 :: 5_ _ ~.. J_.:. ? '~"' 'ag S..-. '7e- ..:h~.~ ~. hare!nbaf o'a
<br />d25Ciii2d roa% aStd'te ::a,T{ ;,a ; ._. k ». _,. .it_ ,,. .- e'n S.. _ _ ._ _. _ _ -egos
<br />awasded. the proceeds for the taic;ng an,; f~ th. ~_ns ?a._t ~r 'o a.~,s _ :na `_ z _f, os .r~a d naebtad-
<br />ness secured br this t;,crtgaga. ;K. and they here a-_ .s_:~~c ,_ ,. ~ : __ a r s,a' ire :a :•t^r,:_ _ __ „.e;c ~ ~ v:c e~ ~- acco»r.± f
<br />the last :naUrmg in/s~~..~lttm~tants ;;f scch !ndahiednes>.
<br />Dated 6ais_ ePz!L_day of 7ue y ]9 ~. ~ / ~
<br />tN THE PRESE!iCE ~" _ to r?-~'"d-{_ ---
<br />Bev ~. Fai
<br />i
<br />d /~j ~y j/
<br />~~ Barbara A. Fairnor:
<br />STATE Of NEBRASKA
<br />ss- ----.
<br />OODNTY OF tia3.1
<br />Dn this ~ day of _-._-!Lffrel _--___- . !9 1~ !~efore ¢re a notary ~.D'!c ,n and for said County, peisunaily came
<br />the above-names
<br />David J. Faimon and riarbara A. Faimon, husband and wife
<br />t4 me weft known to ba the identical parson or persons whose name s or names a*eaffi Pea to the above mortgage as grantor ^.r grantors and they, he
<br />or she, severalty acknowfed~ the said instrument and the exacuti ~ theiec;- to be t:^,e!r ~•:unary act and%d~e~~ep~...~~~~~~ ,,//~~ ,,~/
<br />ifS~,d~z this day and year last above written.
<br />~Lir~~MU/ -tj.~~Y.~F~C_CL__/ ~:~~fe~
<br />Mr bra !~. /rah. ~
<br />~~.---,,~~// Ncaa~,
<br />My commissmn expuason the_~ea_!c",~day of ._!~.__ ,`- ~~. __~` J.
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