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79.~.° ~();~Irfei3 ~ E X ~' A N D A B L E M. O R'Y' G A G E
<br />ASSIGNMENT OF RENTS Loan No. 82141Ct-6 __,
<br />KNOW ALL MEN BY THESE PRESENTS: That Reginald L. Hain and Barbara J. Hain, husband ar.d wife
<br />(hereinafter called the Mortgagors) in consideration of the sum of
<br />Thirty-Three Thousand Two Hundred Fifty and NO 100________________Dollars(5--33,250.00--)
<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 />Lot Five (5), in Block Thirteen (13), University Place, an Addition
<br />to the City of Grand Island, Hall County, 1Jebraska
<br />TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Commercial, its successors and assigns. that Mortgagors are lawfully seized of said premises, that
<br />they are tree from encumbrances, and that they will forever warrant and defend the title to said premises against the lawful claims of all persons
<br />whomsoever.
<br />Provided, nevertheless, these presents are upon the following condiliens:
<br />That whereas the said Mortgagors as members of 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 m said note and have agreed to abide by the terms of said note and Charter and 67-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 Com-
<br />mercial to the undersigned Mortgagors or their successors m title for any purpose, at any time before the release and cancellation of this mortgage,
<br />but PROVID"eG, HOWEVER, at no time shall the aggregate priccipal amo!~nt s?cured ny this mortgage, tieing the amount due at any time on said
<br />original note and any additional advances made, exceed an amount equal fo 110 percent of the amount of the original note, but in no event shall
<br />said note exceed the maximum amowit permitted by law. and PROVIDED. HOWEVER. that nothing herein contained shall be considered as limiting
<br />the amount that shall be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage.
<br />Now, +f the said Mortgagors shall pay or cause to kte paid Ute said sums of money when due, as sot forth in said note. and any other note for
<br />adaihonai advances made until saki debt is fully paid :.,,,, ,,,,.,ear, 'het^. thefo p __e.^.ts shall he „ova, etharulca_ to i>P and remain m lull force and
<br />effeot; but if default should Ge made'
<br />(a) In any of the payments due on said note, and any other note for additional advances made. as therein agreed to be made for three rionths, or
<br />ibl In keeping the improvements on said premises insured against loss by reason of tire, lightning, and other hazards included .n extended
<br />coverage insurance in an amowit not less than the unpaid balance of said mortgage loan, m a company or companies acceptable to Com•
<br />melaal. 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 Commeraal; or
<br />(ct In the payment of taxes and assessments lowed upon Bald premises, or on This mortgage. before they are delinquent: or
<br />(dl I( there is any change in the ownership of the real estate n.ortgaged herein. by sale. ether outright or by land contract, or 6y assignment of
<br />any interest thereon or otherwise:
<br />then, m 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 Hate and any other note for additional advances made shall, from the date of the exercise
<br />of said option, bear interest at the maximum legal rate per annum. and fh~s ,mortgage may men rte foreclosed to satisfy the amount duo an said note, and
<br />any other note for additional advances, together with all sums paid by Commarciai for insurance, taxes, assessments and abshact extension charges,
<br />with interest thereon from he date of payment at the maximum legal rate,
<br />PROVIDED that :n no event, either before or after default. shad the interest due under Bald note and this mortgage and any other note for ad
<br />dibanai advances made exceed the maximum lawful interest rate
<br />PROVIDED, further, that in the event that default occurs n. the maa,ng of tt;e t~ayments due on said Hole, and en any ether note Inr addlt;caar
<br />dnVdntt'.5, aS Fiicieiu rgieeu ie ue umuc. of ~ caps ;. .,.,___ ...__r^~'. -- .,~nM ~..r not>„ir M m 1a .n the navment o` the taxes
<br />or assessa.e^ts ~e~ned upon the p;en~ises abevFnd?s:::b~ee~_ ~ th t .. (gage, r>a! hey c by law de !ngtsent C me~cia.' shat. t>e enr+tted
<br />to the immediate possession of the prenuses above desci r ~gethe~ with all rmtts. oioceeds and issues a:is;ng out ti the p; en is24, Inc may
<br />lit Its di Stile lion eSf? th2 fools S"~ far as It dFFl 1S neCe55a-~ ~:~ thF r_.: i,,,~, ;,+',-:ta-,b Cv~. r, •rrv+ ti:e }.rt-~.~-~- ~.. ~-.••Y•
<br />pr?mjpn+.g, tag~4 and a$SaSSmentS upon Such p[eNiSeS, and fe[ n?GOSSatY ex UenSeS inClrrred In ranting sold premises aria Ce114Chng tool ~iharetroni~at}d
<br />to apply same on said note and any notes evidencing future advances he°eundFr ant i}F ndFbtedness secu e,; s r •!ty poi and icr su a pt;rp<,ses,
<br />the undersigned does hereby soH. assign, set over-and transfer unto Cumme:cra= ail of said ants pr~reeds and t,r_ml;s f~lctu~ ~g ~y lard ~tttact
<br />payments due mortgage owners or any other racemes of any type whatsoever from said property tc be applied an the notes ab?ve•descnbed: flat said
<br />Commercial shall m ro case be liable for the failure to procure tenants. to collect rents nr In prosecute actions to recover possession of sold premises.
<br />The Mortgagors further appoint Commercial of Omaha, Nebraska. (hell attorney nt tact. giwng sard attorney power inevncably- eisher an Its own
<br />name or Mortgagors' names to take all necessary steps far proceedings In court or otherwise tc cause said premises to be vacated. to collect rentals
<br />or other incarnes due, and when vacant, to valet the saran. to make all reasonab;c lopans ono pay taxes out of said rents. piohts, contract paymerrts or
<br />incomes and to do all such things either by its own aHicers or by other parties duly authorized ana apDOinted by It. as GIs agent ter sa;d purpose. and
<br />to chargo or pay a reasonable fee for such services, all of the above to he done at such '~mes and m such manner and en such terms as to then said
<br />attorney may seem best, with full power of substitutioi;.
<br />The Mortgagors hereby agree that if Commeiaal either voluntarily of ~nvatuntan!y becomes m Is rlaoa a party to any su,t or pwceed+ng relating
<br />to the ha[mnbefo[e desorlbed real estate. or to this mortgage or surd note 9i notes, other than a foredcs,le instituted try Commercial, Morfgagms wAl
<br />reimburse Commercial tot all reasonable costs incurred by Commercial in said sus! or preceFdmg The Mortgagors furhei agree that it the herembefore
<br />described real estate or any part thereof be condemned under the power of eminent domain. ores otherwise ocquuen far a public use, the damages
<br />awarded, the proceeds fa the taking, and tot the consitlerabwi lot such ;ICquisdion to the extent of the full aittnunt of the iemainmg unpaid indebteA-
<br />ness secured b?' ltiis mortgage, be, and they hereby are assigned le Com;rerciat and shall be pa;0 turthwitn to Ctmunerclal L= be applied on account of
<br />the last maturing installments of such indebtedness.
<br />Dated Utis_1.~.----day ol,,,,~„a,~p,.r~'__-___ , 19 ~ ~` ,J~~
<br />IN THE PRESENCE OF:
<br />a ,~,. _.._._.._._- ----___.
<br />STATE OF NE6RASKA
<br />~v~ c~ ~ ~L.~v~
<br />ReF,.nald~ Frain - -_ - - -
<br />f~~
<br />$arbara J . !ia in - _
<br />COUNTY OF Hall ss. ____-.__~_.~._.._- --_.. ..-.. ._._- _. -. _- . ..-,--_- ---
<br />On this -.~4~.-_____day of ._~~.a~. -.___. 19 ~~before ine, a notary public m and for Said County, personally came
<br />the above-named
<br />Reginald L. Hain and Barbara J. train, husband and wife
<br />to me wall known to be the idenlica! parson or persons whose name is or names are affixed tc the above mortgage as grantor ni grantors and They. he
<br />or she, severally acknowledge the said mstrwnent and the execution thereci, to rte rhea voluntary act and deed.
<br />6ENfRAI ROTARY • ~ of
<br />WITNESS my hand and Notarial Seal This day and year tali above written, AitN~ ~, oq~~~ ,~j ,~ f_ /
<br />MY Comm. Eav. !d `t --_-UG,!-6~r/.-
<br />~~qr! ~Jotarv r'ubl~c
<br />My cmnmisswn expires on the _~-~..,--.._ day of _S~GRC~'sa`~t, .-.... , l4 ~ M 5~
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