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79- ~-~~'7~ B P`~ -'~ ~-ABLE C3~R.`I'GAGE u,~l:;ll-~+
<br />ASStGtdMENT OF REMTS Lan iio...__.._..__---____--
<br />HNOW ALL MEN BY THESE PRESENTS''ihat Tienr~i:~ .. 3udluff iar~~i~t tw';yrrth:a ,. ?:ud3r~f: „ hn:sL,atru and :rife
<br />Twe::t sir„ thousand nine bundrud dal.l.ars andnor0 a,Pter called the Mortgagarsp irr consideration of fhe sum of
<br />y Dolkars !S 2E X00.00 }
<br />loaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERC'AL FEDERAL SAVINGS AND LOAN ASSOC(ATtON of Omaha,
<br />Nebraska. (hereinafter called "Cemmerciat"'), its successors and assigns, the fallowing described real <state, situated in, the County of,
<br />Fall State of Nebraska, to-wit:
<br />---Lot One Hundred Fifty-One (151) in Buenavista Subdivision, an Addition to the City
<br />of Grand island, Hall Coanty, Nebraska.---
<br />TO NAVE AND TO HOLD THE SAME. with the appurtenances thereunto belonging, unto Commercial, its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Commercal, its successors and assigns, that Mortgagors are lawfully seized of sa:d premises, that
<br />they are bee trop; encumbrances, and that they will forever warrant and defend the title to said prom„ices against fhe lawful Bairns of all persons
<br />whomsoever.
<br />Provided, nevertheless. these presents are unon the following conditions:
<br />That whereas the Bard 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 sat forth in said note and have agreed to abide by the terms of said note and Charter and QY-Laws of
<br />Commercial.
<br />That v+hereas this mortgage shall secure any additional advances, with interest. which may. at the epbon of Commercial, be Wade 6y Com-
<br />mercial fo the urdersrgned Mortgagors or their successors in title tar any purpose, at any tia:e before the release and canteltahon of fhe racrtgage.
<br />but PROVIDED. HOWEVER. at no time shall the aggregate principal amount secured by this mortgage, being me amount due at any tine on said
<br />original note and any addihnna! advances made, exceed an anmunt equal to 110 percent of the amount of the original not?, trot in no even; shall
<br />said note exceed the maximum amount permrttecf by law, and PROVIDED, HOViEVER. that nothing herein caatamed shall be considered as hmHrng
<br />the amount that shalt ne secured hereby when advanced to protect the secunty or m accordance wiCi covenants contained in the mortgage.
<br />Now, if the said Mortgagors shah pay or cause to be paid Gre said sums of money when due. as set forfi m said note, and any other note for
<br />additional advances made until said debt is fully paid with ;Merest. then these presents shall be von'. otherwise, to be and remain m full force an4
<br />effect; tart if default should be made:
<br />(a! !n any nt the payments due on :•aid note, and any ether note for additional advances made, as therein agreed to 6e made for three months, or
<br />.. .. - ,
<br />to,~ in keeping ine improvements nn said nrr_x tees in>!,rau against ie!SS by reason of fire, IigirGiing, and other hazards inciuu'ed in extended'
<br />coverage insurance irr an amount not foss than the unpaod balance of said mortgage loan, in a company or emrpanies acceptable to Com-
<br />menial, the original of such policy or policies td 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 levied upon said premises, dr on this mortgage, before they are delinquent; or
<br />{di tt there is any change in the ownership of the real estate mortgaged herein, by sale, either outright or by land contract, or try 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, tram 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 on said note, and
<br />any other note for additiona~ advances, together with all sums paid by Commercial for insurance, taxes, assessments and abstract extension charges,
<br />with interest thereon from the date of payment at the maximum legal rate.
<br />PROVIDED that in no event, either before er after default, shall the interest due under said note and this mortgage and any other note for ad-
<br />ditional advances made exceed the maximum lawful interest rate.
<br />PROVIDED: further, that ir, th2 event that default occurs i,^^. the making of the payments due on said Hate, and on ar~y ether note far additim:a:
<br />advances, as therein agreed to be made. er in keeping the premises insured, as a6ave prmidati, nr if default be made rn the payment of die taxes
<br />pr assessments levied upon the premises abaue described ar upon this mortgage, before they are by law delinquent, Gommercial shall be entitled
<br />to the immediate possession df the premises above described, together with all rents. proceeds and issues arising out of the eternises, and ray
<br />in Its discief;nn use the roofs ~u far as ii decm5 nc4sa~~r-y fcr th2 E,urpose of making repaira upon the' eternises and fui the payment of in5urans'.e
<br />.premiums, taxes and assessmerris u;~on such premises, and to „~.essarr expenses rnourred in renting said premises and catfeoting rest therefrom, and
<br />dd apply same do said note and any nobs evidencing future advances hereunder until the indebtedness secured is linty paid; and for sdott purposes,
<br />t:+e rtrida- -igni<d u'{u_ ~ --ierc~ ~ sr~~, t _ u; r t _ i:iert.~ iii ut ~a.e •n t~, prcE~.ds and rn - T -ftiruFrav~ any ia['ad - ?'3kt
<br />'payments due mortgage owners or any ether mcomes~ot any type whatsoever from said property in be applied on the motes aboye described hart said
<br />Commercial shall in nd case tie liable for the faticre la Vioeure tenants, to collect rents, or to prosecute actions to reeover possession of said peemises.
<br />The Mortgagors further appoint Gommercial of On;aha, Nebraska, their attorney in fact. giving said attorney power krevocaDly. erHrar on +is cwn
<br />name or Mortgagors' names to take alp necessary steps for proceedings in court or otherwise, to cause said premises to be vacated, to collect rentals
<br />or other incomes due, and when vacant, to relet the same, to make all reasonable repairs and pay taxes out of said rents, profits. contract payments or
<br />incomes and to do all such things either by its awn officers or by other parties duly authorised and appointed 6y it, as its agent for said purpose, and
<br />to Charge dr pay a reasonable fee fur such services, all of the above to 6e done at such times and m such manner and on such terms as to their said
<br />attorney may seem best :vrth full power of substitution.
<br />Tho Mortgagors hereby agree that if Commercial either voluntanly or involaniariiy becomes dr is made a party td any sort or proceeding rotating
<br />to the hereinbefore descritxW real estate. or to this mortgage or said note or notes. ether than a foree!dsurr; msfituted by Gommercial. Mortgagors will
<br />reirnbursr; Gommercial for alt reasonable costs incurred hY Commercial in said evil or proceeding. The Mortgagors further agree that ~i the nereurbefore
<br />described rent estate or any part thereof be condemned under the power of eminent domain, or is otherwise acgmred for a public use. the damages
<br />awarded, the proceeds for the taking, grid for the consideration for such acgmsihar to the extent of the full amount of the remaining unpaid indebted-
<br />ness secured try this mortgage, be, and they hereby are, assig~ted to Commercial and shall tie paid forthwith to Cnn;n~erc~a~ to be applied on account dt
<br />the last maP.tring installments of such indebtedness.
<br />paged this ___.00~~_.._...._...._ day of Autsust _._._.._._.._.. , 19 79.._ _ ~~ ~~
<br />IN THE ESfNCf OF.' _ ~ „~----~~'-~~-
<br />} Ltennis :.T. H+~dluft' /`-~
<br />f `~
<br />-____ ~~ __-__ t ~-'------.___---
<br />- STATE 0f Nf13RASKA Cynthia A. Mudloff ..,,.
<br />COUNTY Ot}ia12 ss. _~
<br />' 0n-'this , 30th day of _-. A~~t.____..___-__ , t9 79__ ,before me, a notary public rtr and for said County, personally came
<br />ttre above-named
<br />to me weik known to tie the identleat person dr persons whose name is or names are ofjji ed to the above mortgage as grantor or grantors and They, he
<br />or she, severalty acknowledge the said instrument and the eoDPKAEff ftary set and deed.
<br />yVEt]8Bt
<br />AAFt~ ~ pee. tt, +s79 ~
<br />WITNESS my hand and Notarial Seat this day and year f _ _ ~`~ j~ f ~ )f
<br />Ndtarr Public
<br />My commission expires do rho /? ~.~__day of _ CI~- . t4 7~ hA 50
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