|
7~°~ ~~'~~'~ EXPANI:1ABaC„aE MORTGAGE
<br />ASSIGNMENT OF RENTS Loan No. ___5~ktt58-_,"z.__~.
<br />IfNOLh' ALL MEN BY THESE PRESENTS: That Harold L. Johnson and Kathryne M. Johnson, husbband and wife
<br />(hereinafter called the Mortgagors) in consideration of the sum of
<br />Twenty Thousand and N01100----------------------------------------- Dollars (5 --20 000.00--1
<br />loaned~to Mortgagors, do herebyy grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br />Nebraska, (hereinafter called "Commercral"), its successors and assigns, the following uescribed real estate, situated in the County of,
<br />I•iall State of Nebraska, to-wit:
<br />Lot Five (5) in Block Twelve (12) in College Addition to West
<br />Lawn, in the City of Grand Island, Hall County, Nebraska
<br />TO HAVE AND TO HOLD THE SAME. with (he appurtenances thereunto belonging, unto Commercial. Its successors and assrgns, forever.
<br />Sai6 6ortgagors hereby covenant with said Commernal. its successors and assigns, that fdorigagors are lawfully seized of said premises, that
<br />They are free from encumbrances. and that they will forever warrant and defend the title to sold premises against the lawful claims of alt persons
<br />WhOm54e 4e(.
<br />Provided, nevertheless, these presents are open the fo!lowin; cendrtions:
<br />That whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing to cepay said
<br />sum of money, with interest, in payments as set forth m said note and have agreed to abide by the terms of said Hole and Charier and By-Laws of
<br />Commercial.
<br />That whereas this mortgage shall secure any additional advances, with interest, which may, at the option of Commercial, be made by Cqm
<br />menial ±o the undersigned Mortgagors or then successors m b±le ter any purpose, at any time before the release and cancellation of this mortgage,
<br />but PROVIDED, HOWEVER, at no trine shall the aggregate principal amount secured by this mortgage, being the amount tlee at any bme on said
<br />original note and any additional advances made, exceed an amount equal to Ito percent of the amount cf the original note, but in no event shat(
<br />said note exceed the maximum amount permitted by law. and PROVIDED, HOWEVER, that nothing herein contained shall be considered as hmrting
<br />the amount that shall be secured hereby when advanced to protect the security or in accordance wrth covenants contained in the mortgage.
<br />Pdcw, it the said 6SCrtgagars shall pay or cause to be paid the said sums of money when due as set forth rn said note, and any other note for
<br />additional advances made until said debt is fully paid with interest, then these presents shall be void: otherwise, to be and remain in fuH force and
<br />effect; but if default should be made:
<br />ta) In any of the payments due on said note, and any other note for additional advances made, as therein agreed to 6e made for three mondss, or
<br />ibi 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 th'e unpaid balance of said mortgage loan, in a company or companies acceptable to Com-
<br />mercial, the original of such policy or policies to be held by Commercial, 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 lowed upon said premises, or do this mortgage, before they are delinquent; or
<br />rd) If there is any change m the ownership of Coe real estate mortgaged heroin, by sale, either outright or by land conbact, or try assigxsment of
<br />any interest thereon or otherwise;
<br />then, in any of the above setdorth events, the whale indebtedness heretry secured shall, at the option of Commercial, immediately become duo and
<br />payable without further notice, and the amount due under said note and any other note for additional advances made shat!, from the date of the exercise
<br />of said option, bear interest at the maximum legal rate per annum, and this mortgage may then be foreclosed to satisfy the amount due as said note, and
<br />any ether note for atltlihonal advances, together with all sums paid 6y Commercial for insurance, taxes, assessments and abstract extensson charges,
<br />with ~nierest thereon ban the date of payment at the maximum legal rate.
<br />PROVIDED that in no event. either before or after default, shall the interest due under said note and this mortgage and any other Hate for ad•
<br />ditirnai advances made exceed the maximum lawful interest rate.
<br />f'ROVtDED. further. That in the event that default occurs in the coaxing of toe paynienia +aup ui ,e,u srut~ , a„d a^ a^;. eih>, ~"t>: rnr ann,rFnn:rr
<br />advaucus, as therein agreed to be made, or in keepine the premises insured, as aDdve provided. dr li default be n!ade rn +ine parn!ent dt pie taxes
<br />or assessments levieif upon the premises atwve tlescnbed nr upon this mortgage, before they ate by taw delinquent, Commerc.at shalt be entitled
<br />f. tF.a , r~.~,~ta - - _-'.. ~ !ha pr2m~r~i 'iii r. ka.:.i tnn~tF.er ,A II - - - - - t -
<br />. .. , _ - i'e-de~L.. :;ba, w4e' a ~ r~it ,. .eu iig uiii °f uf$ pr~„as'es_ am ~' ~3S'
<br />in its dis.rohnn ~ ~ thz .r~nis. _ # - ~ ..- u•,~ s. `:ii2e " urh~e'e arts ~, fo=V
<br />se ar as tt dncn.s :~ ssan for the purpose !;t making repairs u, ^r~ . „ pr@mises anu . tt¢a ~fmont st insurarr:2
<br />r:
<br />pi?r -,in5 ta~~- ,ltd a~~ ._ ~~. sut_R pr{,~i se5. and rrr ne[c'~Saiy expcn?=': In'en~F?a t- °, S.3!: ~re'".r:e5 and C^ia~".:ng °ent dte`@°`.r'.,r'°°.. 'tic:
<br />to apnly tame nn said odic .rf. any Holes eYE tlenctng fOrOirg advances herearpnor nt,1 env .. nOntoOt,., ~, SeOrrred r5 f_ rr ea.d: and fur such p~rp",.*~@~,
<br />the undersigned does herniy sett assign, set aver and transfer unto Commercial alt of said rents. proceeds and incomes including any Eand contragt
<br />pay.ents due murigake aw::ers or a,.y other in,:,.,,.,,..,f .,ny ",'pe wtsatsoever from sand pr;,w,e ty tc be appt~ed on 6he Hates abdve-desdrrhea: ~t said
<br />Commercial shall m no case tee liable for the failure to procure tedants to collect rents, or to prosecute actions to recover pdssessinn of said premises.
<br />Thai htortgagurs further app<nnt Commercral of Ooiaha, Nebraska, their attorney m fact giving sand altomey mower i« evoeabfy, either on rfs own
<br />name ui Mortgagors' Hooter to take all necessary steps for procaedings in Court or otherwise, to cause Sara premises to ere vacated, to collect renbls
<br />or other incomes due. and when vacant, to relet the lama, to make all reasarable repairs and pay faxes out of said rents, profit;, conhagt Payments or
<br />incomes and to do all such things either by its awn aflicers or by other parties duly authorized and appointed by it. as its agent for card purpose, and
<br />to charge ur ppy a reasonable foe Poi each services, all of the above to be done at such times and in such manner and un such forms as to their said
<br />attomey may recto hest, with full power of substitution.
<br />The Mortgagors hereby agree that it Comnaeresal either ~lantauty or Iav3turtdrriy ~cc;nos ar rs made a party to auy suitor pc~eedrng relating
<br />to the hcreinbetore described roar estate, or to this mortgage or card tuote or notes, other than a foreclosure institut~l by Commercal. Motgagurs writ
<br />reimburse Commercial for all reasonable costs rncurre6 by Commernal us said swt nr proceeding The Mortgagors further agree Nat it the herembefare
<br />descritxitl real estate ar any part thereof fro condemned under the {aver of eminent domain, or is otherwise acquired for a public use, the damages
<br />awarded, tlee nroceeds for the Latrine. and foe the consrderabat fur such adquisrhnu to the extent of me tuft am„intr of the rernaining unpaid indebted-
<br />ness secured by this nruiteage, be, and they hereby are: assigned to Comrrerciat and shalt tie pasd forthwith fe ~nmrn@trlat m tin appt!otl nn account of
<br />the last mature rg installments of such indebtedness.
<br />Dated this - -~f?~~day of _..~.1eY~.uS~'' ----. Ig ~~ ?
<br />~; ~ . ~ ~;,
<br />iN II7€_ Kt(C ~4rv l,C7 t~(i: j `~--~~i~s~~ _t .~c_s#.-°--.-..~~..=:3..G~- - -~_
<br />.r-_~- ~1) ll~r,~~ _._,...._..<.,_,._.,..._.__...4 _.._._ ,'tr[iaPplfl L. JOt11lSiYFyrl --
<br />''.Cathry M .7ohnsdrl
<br />TATE OF NEBRASt(A
<br />COUNTY OF Hall ss' ___ _,._~ -______
<br />Cn this .._.., ~1_~7~fL____ day of _~_._G!teLlS~ __._,_.,_ , 19 .~ before me, a notary public in and fm said County, personally came
<br />the atxfve~namad
<br />Harald L. .Johnson and ltathryne M. 3ohnson, husband and wife
<br />to Hie well known to tx the identical person or persons whose name is or names are affixed b the above mortgage as grantor or grantors and they, he
<br />instrument and the execution thereof, to be them voluntary act and deed.
<br />Oi~~~ .
<br />~~~p dap and pear last ahova written. ~~ ,,~j~
<br />7+~`m_ ~_~~- .
<br />Notary Puhire
<br />fAy camnnssipn expires on iise__~ '_'~ _ ,~°. °« '`"~~= ~~ In ~~. M-50
<br />_. oar ~ ...____..~..~..-'---- -
<br />
|