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79„' U~7`'~~ EXPAI~3DABLE 'vi C7RTGAGE
<br />ASSIGNMENT OF FZEN T "s Lo=~ 40. 821403-3
<br />KNOT"i ALL MEN BY THESE PRESENTS: That Steven A. Riley and Kathy E. Riley, husband and wife
<br />(hereinafter called the Mortgagors) in considerabon of the sum of
<br />~h~Y Tw^ 1'hcslsand lour "unvrzd - "'0,100------------------------Dollars{5-_32,4;,0,00--)
<br />caned io orTgagors, a hereby grant, bargain, sell ana4convey unto COMMERCIAL FEDERAL SAVINGS Atli; LOAN ASSOCiA nun a Umana,
<br />Nebraska (hereinafter Balled "Commercial"), its successors and assigns., the fdtfowing descrraed real estate. situated in the County of,
<br />Hall Siafe of Nebraska. to-wit:
<br />Lc± Ten (10) in Bloci: Txenty-Eigh*_ {28) in Gilbert's
<br />Third Addition to the City of Grand Island, Hall County,
<br />Nebraska
<br />TO HAVE AfdD TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial. its successors and assigns, forever.
<br />SaiC tortgagors hereby covenant with said Commercial, rts successors and assigns, that Mortgagors are lawfully seized of said promises, that
<br />they are free from encumbrances, and that they wih forever warrant and defend the title to sold premises against the lawful claims of all persons
<br />whomsoever.
<br />Pcavitled, nevertheless, these presents are upon the following conditions:
<br />Thai whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing to repay said
<br />som of money, with interest, in payments as set forth in said note and have agreed to abide by the :arms of said note and Charter and By-Laws of
<br />Cnmmercial-
<br />That whereas this mortgage shall secure an9 additional advances, with interest. which may, at the option of Commercial, 6e made by Com-
<br />mercial to the undersigned Mortgagors or their successors m title for any propose, a?any time before the release and cancellation of this mortgage,
<br />....
<br />oonp!Dc~ unwFVER at no time shall the aggregate principal amount secured by this mortgage, being [ho amount due at ary time on said
<br />w, , ...
<br />art final note and an additional advances made. exceed an amount equal to tin ercent of trio amount aftba art-'--' °°'^ ~• ° ^^+ ti=ii
<br />$ Y P x,,,o: •,~,~, wa is no ,.¢_.. s.._..
<br />said note exceed the maximum amount oermitted by law. and PROVIGEO. HGyIEVER: that noihine herein caniained shall be considered as limiting
<br />the amount that shall be secured hereby when advanced to protect the security or in accordance with crovenanLs ceo!a:nod in the mortgage-
<br />Now, iF the said Mortgagors shall pay or cause to be paid the said sums of money when due, as set forth in said note, and any other note for
<br />additional advances made until said debt is fully paid with interest. Non these presents shall be void: otherrise, to be and rema :.n full force and
<br />effect: out if default should be made:
<br />Ir, any of the payments due on said note, and any other note for additional advances made, a<_ therein agreed to be made for three months, or
<br />fbj In keeping the improvements on said premises insured against loss by reason of fire, lightning, and other hazards included in extended
<br />coverage insurance in an amount not less than the. unpaid balance of said mortgage loan, in a company or companies acceptable to Com-
<br />mercial, the original of such policy or policies to 6e held by C~ammercial, and with a mortgage clause attached to said policy or policies,
<br />in favor of Commercial; or
<br />{c) In the payment of taxes and assessments levied upon said premises, or an this mortgage, before they are delinquent; or
<br />td? If there is any change in the ownership of the real estate mortgaged herein, by sale. either outright ar a/ land contract. or by assignment of
<br />any interest thereon or otherwise;
<br />then, in any of the above set-forth events, the whole indebtedness hereby secured shall, at the option of Commercial, immediately become due and
<br />payable without further notice, and the amount due under said note and any other note for additional advances made shall, from the data of the exercise
<br />of said option, bear interest at fine maximwr, legal rate per annum, and this mortgage may then t>e foreclosed to satisfy the amount due on said nefe, and
<br />anp ether note to aMitianal advances, together with ail sums paid by Commercial for ;nsurance, texas, assessments and absbact extens:as charges.
<br />wim interest thereon from the date of payment at the maximum legal rate.
<br />PROVIDED That in no event either before or after default, shalt the interest due under said note and this mortgage and any other no#e for ad-
<br />d:titn~al advances made exceed the maximum lawful interest rate.
<br />PROVIDED, further, that fir, the event that default occurs in the making of the payments due on said hate. and an any other aete to additi;sna!
<br />advances, a therein agreed to be made. ar in keeping the premises insured. as above pravide<d, or if default be made in the payment of a:a ;axes
<br />w ass?sUr:eats ie:ied upon fie promises above described er anon th!s mortgage. 6afor? they are by law d=_Imquert, Ca:.mercia! sha!r t~ entitled
<br />ra Lna rmmod~aro_ nr,s<P«i„n at n,o r,ramiso~ ,n,,,,,.dascriwn, tooorno~ ,with al:, ra,r~ ~r~~aaa~ a,d «~„o~ ~r«,ng ~,t at the y, v;n may
<br />in its discretion use the rents so tar as it deems necessary for the puroose of making repairs upon the premises and for the payment ofinsurance
<br />premiums, taxes and assessments upon such premises, and far necessary expenses incurred fie rooting said premises and cotiecimg rent therafrdm, and
<br />to apply same on said note and any notes evidencing future advances hereunder until the indebtedness secued is fully paid; and for such purposes,
<br />trio undersigned dons hereby sell, assign, set aver and transfer unto Commercial all of said rents. proceeds and incomes indudmg any land conhact
<br />payments due mortgage owners or any other incomes of any type whatsoever 'rrom said property fo be applied on the notes above-described; but said
<br />Commeraal shall in no case be liable for the failure to procure tenants. to collect rents, or [o prosecute actions to recover possession of said premises.
<br />The Mortgagors further appoint Commercial of Omaha, Nebraska, their attorney m Fact. giving said attomey power urevccahly, eidrer an its own
<br />name or Mortgagors' names to take all recessary steps for proceedings in cour or otherwise, to cause Baia premises to be vacated, to collect rentals
<br />or other incomes due, and when vacant, to relet the same, to make al! reasonable repaus and pay taxes out of said rents, profits, contract payments or
<br />incmes and to do all such things either by its own officers ur bY' Diner parties duly aufiorized and appointed 6y it, as its agent for said purpose, and
<br />to charge or pay a reasonable fee for such services, all of the above to be done at such times and m such manna and on such terms as to their said
<br />attorney may seam best. with full power of substitution.
<br />The t~ertgagors hereby agree that if Commercial either vo!untanly or im~oicnhrily becomes or rs made a party to any suit ar praeeding relating
<br />to the hereinbefore described real estate, or to this mortgage or said note o: notes, other than a foreclosure instituted 6y Commercial, Mortgagors will
<br />reimburse Commercial for al! reasonable costs incu«ed by Commercial in said suitor proceeding. The Mortgagors further agree that if the hereinbefore
<br />described real estate or any Dart thereof be condemned under the Puwor of eminent domain, oris otherwise acquired ter a public use, the damages
<br />awarded, the proceeds for Ue taking, and far the consideration for such acgwsitian to the extent of the full amount of the remaining unpaid indebted-
<br />ness secured bS this modgage. 1R, and they hereby are, assigned to Commercial and shall be paid forthwith td Commeroai to ha applied on account of
<br />the fast maturi~ngyinstall~ s of such inde ?ado ~j ~r
<br />Dated this~~:SS~-day of 19 %. ~`
<br />IN ~E PRESENCE pF: , + ~~ -T____-.__~
<br />STATE OF NEBRASKA
<br />Stev n A. Riley ~ ,J/
<br />~'' f~2-~7 ~r6 -~71~.; fir;/~'S_
<br />Kath E. Ri.~ey
<br />COUNTY OF H 11
<br />On this~~~ day of 19~~ ,before me, a notary public in and for said County, personally came
<br />the above-named
<br />Steven A, Ri an Kathy E, Riley, husband and wife
<br />to me well known to 6e the identidat person dr persons whose Heinz is or names are affixed to the above !nartgage as grantor or grantors and they, he
<br />nr son, severally acknow!edee t?>a said instrument and the execution thereof, to ~ their vciuntary act and deed.
<br />ti19INiCf•~YatMrr&
<br />kITNESS my hand and ldataria! Sea! this day and rear last a^..eve w n. ~.9N£M.4 ~ >i~~.R4 s
<br />Via. ~~.L=..~!?. 79 _~_-
<br />t.otary Puhhc
<br />My commission expires on the f~ ~ day of ter' - __ . I9,Z~ fd 50
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