|
79° ()1D~Gr'.`~~ EXPANDABLE MORTGt"x.GE s~ua3-o
<br />ASSIGNMENT OF RENTS Loan No. ._
<br />KNOW ALL MEN BY THESE PRESENTS: Thai Ray J. Koehler and Frances S. Koehler, husband and wife
<br />Twenty-Four thousand one hundred fifety dollar~heaenin~f~ c~~le~the Mortgagors) in consideration of the sum of
<br />-`"- Dollars (S-X4,150.00=-- )
<br />loaned to Mortgagors. do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATfON of Omahz,
<br />Nebraska, (hereinafter called "commercial"), its successors and assigns, the !ollewing described real estate, situated in the County ef,
<br />State of Nebraska, to-wit:
<br />---Lot Two(2) in Block Four(4) in Windolph's Addition to the City of brand Zsland,
<br />Hall County, Nebraska.---
<br />TO HAVE AND TO HOLD THE SAME. with the appurtenances thereun!o belonging. ante Cnmmercia!. its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Commercial, its successors and assigns. that Alortgagors are lawfully seized of said premises, that
<br />they are tree from encumbrances, and that they volt forever waiaant and defend the titre to safd premises against the lawful claims of all persons
<br />whomsoever.
<br />Provided, nevertheless. these presents are upon the following rondihnns:
<br />That whereas the said Mortgagors as members of Commeiual have this date e>Iecuted a note evidencing such loan and agreeing to repay said
<br />sum of money, w;th interest, in payments as set (mth in sold rote and have agreed !o abide by the terms of said note and Charter and 8)'-Laws of
<br />Commercial.
<br />That whereas this mortgage shall secure any addihenai advances- rnth interest, vrhich may. at the oplioo of Commercial, be made by Com-
<br />mercia! to the undersigned Mortgagors or their successors m title f,r any purpose. at any time before the release and cancellation of this mortgage.
<br />~ha!I ±f;e oar., „ n,i , nuni cnr~~ired nv is mortgage heine the amount due at any time on said
<br />uui PROVIDED, HvWEVER. at na t,;ac ., ag^r.,,,,
<br />original note and any additional advances made. exceed an amount usual to t 10 percent of the amount of the original note, but in no event shall
<br />said note exceed the maximum amount permitted by law. and PROVIDED, HOIYEVER, That nothing herein con lamed shall be considered as limiting
<br />the amount that shall bu secured hereby when advanced h, ,:~rcte~-1 the security cr in accordance with covenants contained in hre mortgage.
<br />Now, it the said Mortgagors shall pay or cause to !re pa;G die said sums of money. when duo. as set forth m said note, and any other note for
<br />adelhatai advau~rs nmue uui~l said debt iS h ^'^ "'i "` ;^,_.eSt !~?^ tne~n ~r_ unto <hall Iw pniri; other Ni cr, to M and remain in hill farce and
<br />, IIJ p„.. ..
<br />effect: but if default should be made:
<br />ray In any of the payments due on said note. and any ether note for adddwnat advances made. as therein agreed to be made fcr three months, or
<br />ibi In keeping the roiprovements on said proposes insured against lass by reason of hre. :~ghtmng. and other hazards included m extended
<br />crveiage insurance in an amount not iess than the unpaid balance of said mortgage !can, in a company or companies acceptable to Com-
<br />u,ric~ai, the original of such policy or frohcies to he herd 6y Cammeraat, and with a sortgage clause attached to said pdlicy or policies-
<br />m favor of Commercial: or
<br />rci In the payment of taxes and assessments levied upon card premmses, or on fins mortgage, before they are delinquent: or
<br />ids If there is any change m the ownership of the real estate mortgaged harem. 6y saie, either outright or by !and contract, ur by assignment of
<br />any interest thereon or otherwise:
<br />then, m any of the abovo seFforth events, the whale indebtedness hereby secured shall. at [he optmn of CommercfaL immediately become ~ and
<br />payable without further notice, and the amount due under sold note and any other note for additonal advances made shall, from the date of the exe!cise
<br />of said option, bear interest at the maximum regal fate per annum. and this mortgage may then 6e foreclosed to satisfy the amount due on sold note, and
<br />any other note ter additonal advances, loge±her with al! sums paid by Cemmeicia! for insurance, taxes. assessments and abstract extension charges.
<br />with interest thereon from the date of payment at the maximum legal rate.
<br />PROVIDED drat in no eve!E, e,Lr,er hetere nr after Getout', shall the ra!terest due under said nNe and this mnr(gage and any other note t>;
<br />ditional advances made exceed ;he sraa:^ urn tawtu; interest rate.
<br />PROVIDED, further, that iT ~e e:~,t that detati!t occurs .r. the rucking of the payr;~rfs duo on said note. and on any other note fur atldihonat
<br />advances, ns iircio~i 14 ' ,wdC ' ' "^" ... ""' ,..,..:.•° •,° •".' ^° ,r.,,.o ,,,,,,,,,;o,r nr .r dnranil tin morn m thv navmenr n. the fates
<br />nyiccu ~+. ,,, ,., ~.._r...p .,.., r... ~.....__ ...__.__. __ ....... _.
<br />9f aSfe3Snien lS ieYirtl upon- t5t' --;zNS aL-ti IFS+='t[e6 nt ui_,rn $-- r<nrt~agC Cc_ f Iheti ate hY raw ddlrtiiu2nt. ~nmmePCiat Shari L>i'2nR(ied
<br />to the immediate pessessici --? prF.ises at~=ve-described, tcge(her with a':. tints, proceeds and issues arising nut of t`e prarrses, an;: may
<br />nr its diserelien use the reels ~. ~ .. 't de.~;^s ne:r„ssa~y i~u the purpose at making !epa!rs open the pronusns and for the payment e4 hisuranre
<br />preiiirurrs; faxes env a @a^„4,xa ,.. --~@+- a`d ttlr e.eSSar-_ ex ert5e9 incurred m 'ei Sa d oreinises env cc;leciing r}4 'he,e'f.,;rr, env
<br />to apply same en said note and any pates uwdancing future advancos he!eunder until dru indebtedness secured is fully yard: and for sucn purposes.
<br />hre undersigned does her€~ se; assr~. set ever aid hanster unto Cor,;me;cia! all a! said rents. proceeds and incomes including any ian6 emitaet
<br />payments due mortgage owners of any elver incomes of any type whatsoever from said property to be applied an the notes ahove~descnbeC: but said
<br />Commeraal shall m no case Ge liable ini the 4al~re to procwe tenants- to collect rents, or to prosecute aebons to recover possession of card premises.
<br />The Mortgagors further appoint Commercial of Omaha, Nebraska. their attetncy m fact, giwng said attorney twwer irrevocably. either on its awn
<br />name or Mortgagors' names to take alt necessary steps for proceedings rn court or otherwise- lc cause saie premises to ttn vacated. to naltect rentals
<br />or other incomes due, a,~ when vacant, to relet the same. to make al! reasanah!= re airs and ;ar taxes out et ;aid .€nts, profits, contract pay;^ents ar
<br />incomes and to tlo all such things either by its own ufhcers or 6y ether parties drily authorized a^tl appointed try iI. as its agont fcr said purpose, acrd
<br />to Charge or pay a reawnable tee fur such seances all of the at,nve In h lane at such Unies and in such nwnner and cn such tents as ,o iher sorb
<br />attorney may Seem best. with foil power of subshtuhon
<br />The inwigagnrs hereby agree that if Cominerual either voluntarily or ~nvclunuuily becomes o! is tootle a tarty to any suitor proceeding relating
<br />to the hareinbelcre dascnbed teat estate cr tc the :nertgage ur said note ::. notes, ulher (liar, a tcrec!ssuie rnshtuted b= Cv;=rnrercra!. Mo;tga~otg pill
<br />rennburse Commercial for all reasonable costs incurred by Conmeraal m saie sent o! proceeding The Mnrigagars further agree that it the here~nbetme
<br />Qesenbed mat estate or any part thereof be condumnud under the power of eminent domain, or is otherwise act;mred tai a public use. bha daieages
<br />awarded, the proceeds for the taking, and far the con;idurahon ter such acgnisiiron Ic the extent of Ehe fait amor;nt at tt~ re,aainmg mrpaid ,ndflbt@d~
<br />pass socurad by this marlgag~;, be, and they hereby are- assigned to Ce~myeiua; and shall be paid forthwith to Con~merei_t t.= 6e applied cn account of
<br />the last maturing installments of such indebtedness
<br />Dated Ihis M1_ 30th
<br />-day of __ _AU~ust._. .. .. i9 ., 7! _..
<br />IN TH€~ES€KC€ OF:
<br />STAT€ OF N€@RASKA
<br />COUNTY OE -hall ss.
<br />~~ ,~
<br />~~ ~- r
<br /><. y J . l.oehler
<br />1 =
<br />t
<br />Px^ances ~. Koehler
<br />On this _._____,.30th_`__- day n( _.„.August 1"3 79 . before me, a notary public m and for said County, personalty came
<br />the abgve-named
<br />Ray J. Koehler and Frances S. Koehler, husband and wife
<br />to me volt known tc be the identical person or persons whose name is or names are affixed to the above mortgage as grantor or grantors and Grey, hr.
<br />or she, severally acknowledge the said instrument and the execution thereof, tc be their voluntary act and deed.
<br />6ENEWAt NOtAlly .
<br />WITNESS cry hand and Netanal Seal this day and year ! e ~~_ ~ ~~!
<br />WEDEiEAQ
<br />Comm. E!rP.4a. 17, 199 _ ...- -- - --_...~C2'....... _.... - -- --
<br />NaLm I'ibhc ~
<br />My commission expires on the. l?.__.....,_......_._ __ day cl __ .__ ._ __ __ I4l~t. M !i!'
<br />
|