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79--~3~~~~ EXPANDABLE MCDRTGA+GE
<br />ASSIGNMENT OF REN';•5 Loan Ne. _ 50+62-2
<br />KNOW ALL MEN EY THESE PRESENTS: That Tim C. Plate, an unmarried person
<br />----- ;hereinafter called the Mortgagors) in consideration of the sum of
<br />Sixty-Three Thousand and NO/i00---------- ------~ollars(b --63,000.00--)
<br />loaned to Mortgagors, tlo 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 />]call State of Nebraska, to-wit:
<br />Lot Ten f10), Block One (1), in Southern Acres Addition,
<br />an Addition to the City of Grand Island, Hall County, Nebraska
<br />TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belor.6ing. ante Commercial. its successors and assigns, forever.
<br />Said Mor(gagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfulty seized of said premises, that
<br />they are free from encumbrances, and that they will forever warrant and defend the title to said premiszs against the lawful claims of alt persons
<br />whomsoever.
<br />Prseided, nzvertheless, these presents are upon the following conditions:
<br />` That whereas the said fdortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing to repay said
<br />sum of money, with interest, m 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 />Commercial.
<br />?'hat whereas this mortgage shall secure any atlditwnai advances, with mteresi, which may, at the option of Commercial, be made by Com-
<br />mercial to the undersigned Mortgagors ar (lieu successors m title far any propose, at any bme ire tote the i8iease and Canteliatien of Nis riartgage,
<br />but PROVIDED, HOWEVER. at no time shall the aggregate principal amount secured by Nis mortgage, being the amount due at any time on said
<br />original note and any additional advances made, exceed an amount equal to 110 percent of the amoun! of the original note, but in no event shall
<br />said note exceed Ne maximum ataount permrtletl by law. and PROVIDED, HOWEVER. Nat noN!ng herein contained shall be considered as limiting
<br />the amount that shall be secured hereby when advanczd Io protect Ne security ar in accordance with covenants contained in Ne mortgage.
<br />Now, if the said fdortgagors shall pay or cause to be patU the sa+d sums of money when due, as set from in saiu nuie, sari auy uurei uuie Fm
<br />additional advances made unhi said debt is fully paid with interest. then these presents shall tie void; oiher,vise, to Ire and remain in full force and
<br />effect; but if default should be made:
<br />;a'. In any of the payments due on said note, and any other note for addrttenal advances made. as Herein agreed to be made for three months, or
<br />tb? in keeping the improvements on said premises insured against loss by reason of fire. hghtmng. 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 aaeptabte td Gom
<br />mercia!, the original of such policy or policies to be held by Commertiai, and with a mortgage clause attached to said policy or policies,
<br />favor of Conunerctai: or
<br />is-~ m tnz payment of taxes and assessments leveed upon said premises, or on this mortgage.. before they are delinquent; or
<br />d. It G~ere is any change to the ownership of the real estate mortgaged herein, by sale, either outright or M' land contract. or by assignment of
<br />any interest Hereon or otherwise:
<br />then, ~n any of the above set forth events, the whole indebtedness hereby secured shall, at the option of Commercial, immediately become due and
<br />payable w~hrout further nobcz. and the amount due under said ndte and any other note for additional advances made shall, from Ne date of the exercise
<br />of said option, bear mterzst at the maximum legal rate per annum, and Nis mortgage may then be foreclosed to satisfy the amounk duo on said note, and
<br />any other note fur additional advances, together with all sums paid by Commercial ror insurance. taxes, assessments and abstract extension charges,
<br />wiN ;merest thereon from Ne date of payment at the maximum legal rate.
<br />PROVIDED that in no event: zither before or after default, shall thz interest due under said note and this mortgage and any other note far ad-
<br />ditions; advances made exceed the maximum lawful interest rate.
<br />FRO'v~~e a tutL'izr fiat ~ the event Hai vc ar,=1 actu _ ~, tbu .,,axing or tot payments duz en said na[e, and on say other nuie iuz aamtsrx~ai
<br />advances, as (herein agreed to be made. or ~n koeping the pre~n~ses insured, as above prov+ded, a if default bz made to thz payment of the taxes
<br />or asxssmeats levied upon me premises above descnE~a or upon Nis mortgage. before they are by law delinquent, Commercial shall be entitled
<br />tc !nc i~a-• ~~diatz pcs~zss!on of Ne premmses abovz dzscr lied. tage!her with act ants. preteeds and issues arising aut of the paemises, arrd ;rap
<br />i^ its d^ rc :cn usz the reels so far as it deems necessary tmr Nu curuosz ^f making repairs anon Ne pre+tises aria fer Ne ~yment ;.f rncra_nte
<br />p ~ r ns jnd assn rs a ~,n oath pre ises. and E~ e cssay z en cs in urred to renting said premises and oilecfing rent Nerehcwn, and
<br />t rk,~ly - ~ ~, an i,tea e,r~ rig ~~'r_ rcr r-, h e_~ ~_. roil tte :ndEbt_dne5. Se„L'?~' .~ .r... , .,, for S,;CP ,n.~p.;1:5,
<br />th? under< u~~f do?s here~i seH, assign- snr ever and t€at~ fec .rn!;, Care er„ra! 3tt of card rents-;.:nce€ds and rac:~:es rrct;~g ~y r~rtrast
<br />payments roc ~ortgagr awnc> a arty- other incomes of any Yype whatsoever [cam Said property to 6e applied cn the notes above-described: but Said
<br />Commereia! .<.hall in na rase uu Fable for Ne lauure to procure tenants. to cal!ect rerts, o, to prosecute actions to recover possession of said premises.
<br />The Mortgagors iwther appmnt Commercial of Omaha. Nebraska. then atromey in fact. giving said attornoy pawer tnevocably. ether on its own
<br />name or Mortgagars' na+nes tt take ~+tl necessary steps cos proceedings m court er alherwise to cause said premises to be vacated, to tolietl rentals
<br />of oche! incomes due, and when vacant to relet Ne ,sine to make ail rzasonahie repaus and pay taxes out of said ants, protrts, contract payments ar
<br />incomes and to do ail s,rch things ether by sts awn offreers st bg othz= parfros o-uly ar,-Norizzd an"u appointed b}' rt. as its agentrvr said purpose, a~
<br />to cha~gz u. I?ay a rea~~=nahle tee for such services art of Ne aWvt hr tx done at such timzs and in such manner and on such teens as to their said
<br />attorney °iuy seen Ges with h.ril power of subsbt~bon
<br />The Mortgagors hereby agree fiat t C~n~•c r.-a- errYrer ~4i tit n i cr -r -±;xltar,~~y be a-ec a s f+rade a par!Y to ar+y Butt or proczed;ng retatmg
<br />to Nz licit +befare azsait>Pd .eat e late. ur try h s ,rrtgagz o~ cad .sti ,Dotes other flans 'e ze.asure ~nsi~tutzd b'f Commercial, Mortgagors will
<br />re~mCurse ;,,,.r ..~cn~ '_ revs~.6;~ vats ~nCti;re`v' dr C;a. motors, _., ,aid v„i yr erreed~ng TTia °i .rt~~.rs fwiher agree that rt Ne here~nbeiore
<br />destuhud u~al estate •~ ,+m tart t~ieurof be c~~nderc:ntat rrMOs the ~,wei o! i>rsnera ~maur yr is ~.itnet>1,isC acgmre~ for a Public use, the dau:ages
<br />awarded. thr ptncc~eus '.= uu mktrr;. and fo+ Ne cans~dera6rn fo+ axh acqu~s~bar to U~c extend of 1KZ fu!i a~^aunt et the remaining unpaid mdobted-
<br />nas5 SeCU - ~ r~ ihr~ r hem Cif. •~ Nty hEreiry aye assr~i_d t_ Ccm~~e, ra! and diaii to p~rd (azthwrN tc t<o-S=mPr,i 1 h', f~ applied on atcoum of
<br />the cast n', ti +c testa ~~ts r' sur n ~rdehtedness -~ ,,,
<br />'7 ~ . f{i' .--i--.
<br />Dated dr.s ~.-;.. ~ day a' ( ~ _-. 29 f -~`"',..- f
<br />~ ~
<br />iN T- ESCNCE DF ~ ~^' _,~._._ ~'`+ ~-. --
<br />f ---°-°--°--°
<br />-____ - Tim C. t late
<br />STATE OF NEBRASKA
<br />^c ~-~~ .. _.._... __.--..__.____. .. ._. _...__._____._~
<br />COUNTY ~ ~ ss. ___.__.-~_._..._.__,._..
<br />v, C:h ~ t
<br />On this _ _ ~_.. day of _.~irt~d~`t_'_._.. 19 ~. before rae. a r+atary pubirr: an and far said County, personally tame
<br />Ne above named
<br />'Piro c. Plate, an unmarried person
<br />a n e I person or persons wl+osa mine is or names are affixed to Ne ahcvz marlgage as grantor or grartars and y, he
<br />or she. s~~ ARf he id mstmment and the exetutian Ner~f, to ~ their wal,~nt?ry art ano dead.
<br />TE OE'
<br />~ ~ Nis day and year last above veil".Eon.
<br />y ~~.y. ~l Notary Public
<br />ivy Cuin7iii iiiiAl uAyliaS a.. u,~ .._-£__.._.. Ca}' of __ ~_:dZG _.,___ l~'P~. ?d Sil
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