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79-. ~~,~~~~ EXPANDABLE R~IC3RTGAC=E
<br />ASSIGNMENT OF RENTS Loan No. _ 50467-2
<br />KNOVd ALL MEN BY THESE PRESENTS: That Derald L. Griffis and Dcnna K. Griffis, husband and wife.
<br />Forty-Four thousand five hundred dollars and (hereinafter called the Mortgagors) in c~nsideratian of the sum of
<br />no/100--- Dollars(5--44,500.00--~
<br />loaned to Mortgagors, do horebyy grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS ANO LOAN ASSOCIATION of Omaha,
<br />Nebraska, (hereinafter called "Commercial"), its successors and assigns, the following described real estate, situated in the County ot,
<br />State of Nebraska, to-wit:
<br />---Lot Nineteen (19) in Block One t;l) in Brentwood Subdivision in the City of Grand
<br />Island, ball County, Nebraska.---
<br />TO HAVE AND TO NOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, iIs successors and assigns, forever.
<br />Said Mortga~rs hereby covenant wish said Commercial, its successors and assigns, that Mortgagors are lawfully seized et said premises, that
<br />they are Free from encumbrances. and that they will forever warrant and defend the title in said premises against the Iawfu! claims al all persons
<br />whomsoever.
<br />Provided. nevertheless, these presents are upon the fo!Iowing conditions:
<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 in said note and have agreed to abide trv the terms of said note and Charter and ~-Laws of
<br />Commercial,
<br />That whereas this mortgage shall secure any additional advances, with interest. which may, at the option of Commercial Ge made try Com-
<br />mercial to the undersigned Mortgagors or their successors in title for any purpose, at any hme before the release anA cancellahdn cf flits mortgage,
<br />Gut PROVIOEC. HOWEVER. at no hme shall the aggregate principal amount secured by this mortgage, being the amount due at any bme on said
<br />ongmai note and any additional advances made, exceed an amount equal W 110 percent of the amount df the original note, thrt in rto eventshail
<br />said n_!e ezcead the maximum amount permitted by law, and PROVfDED. NOWEVER, that nothing herein contained shall be considered as limiting
<br />the r= : unt that shall tx secured hereby when advanced to protect the security or in accordance with covenants tantained in the mortgage.
<br />No>< _._ coin Mgrrg,o.rs ~t!al! pay dr loose rd be ~,sn d!e said sums df money when d,~a, ~ ~t rd;th .n said .note a.^.d any ocher rod Mr
<br />addihonal ~ rence=_ made until said debt is Fully paid with interest, then These presents shat! be void: otherwise. to he and remain in full force and
<br />etrect. oat if default should be made:
<br />a 4n any of the payments due on said note, and any other note for addibonal advances made, as therein agreed to be made Gar three maiths, or
<br />~G Ir. seeping the improvements on said premises insured against loss by reason of fire. lightning, and other hazards included m extaided
<br />rove€age insurance in an amount not less than the unpaid balance of said mortgage loan, in a company dr companies acceptable to Com-
<br />menial. the original of such policy or policies to be held by Commercial. and with a mortgage clause attached to said policy or policies,
<br />m fzvor et Commercial: or
<br />ic`. to the payment of taxes and assessments levied upon said premises, or on this mortgage, before they are delirpuent; or
<br />rd~ If there is zny change in the ownership of the tea! estate mortgaged herein, by sale, either cutnght or Gy land tonhact, or by assignmont of
<br />ary interest thereon or otherwise: -
<br />Vre+. many of the above set-forth events, the whole indebtedness hereby secured shall, at the option of Commertiat, immediately become due and
<br />payaGle without further notice, and the ~aiount due under said note and any other note for additions! advances made shall, 6om the dale of the exercise
<br />of said option, bear inizrest at the maximum legal rate per annum, and this mortgage may their be foreclosed to satisfy the amount due on said note, and
<br />any other note icr addihonal advances. together with alt sums paid 6y Commercial fpr insurance, taxes. assessments and abstract extension charges,
<br />with interest d±ereon from khe date of payment at the maximum legal rate.
<br />PROVtnEn ~t !n nd evmr!t, either before ei after default, shall the interest due under sa!d w~te and this metgaga and any ^`fxr:,gb fm ~_
<br />ddionai advances made exceed file maximum lawful interest rate.
<br />I'RCVIOED. further, that in the event that default occurs m me making of the payments due on said nuts, and on any other note for additimrat
<br />advanc^s. as Lherei^ agreed :e bz made. dr in keeping the ~ em+ises ins::rtld. as atv!ve Ivdvided, d= it default be ,^-.ode in b+e payment of the bxgs
<br />or assessiienis levied :ruoir the Parses ahev8 des:r~cxd „ -;,fin dris mcrt~agc, Cxigra Noy are by iawdetrnquent. Cammerciai stt=ittheet+fitted
<br />to the irn;:.ediate pr:ssessidn ct !tie prer:ciseS atxr,~ dr:scrrGed t~ggthgr with all rents. Preteeds and issues a~isrieg cut cf 7. p;anisas. ant may
<br />,~::~~ :,: „ , , .t a ~.s n ,. ~, --R g _~ s - thn pr~_ -a R.a ~e ~ya~~nr yr _: _~rce
<br />premiums, fazes add assns:a,E.fts urn such rreinisas ar:d for necessary expanses intnrred in renhn;? Satd.p€prnises and t~tEatting tent ttt~etr~;_z ~. -_ _- - _._
<br />td apply same .,n said Hair; ae~d any motes evidentirg futare atlvantes hereunder unlit the indebtedness secured is tufty pai+~; and lilt sueh pnrposeS,
<br />the undersigned deer heretry sell, assign, set over and transfer unto Commercial all of said rents. proceeds and incomes including any farxt contract
<br />payments due mortgage owners or any ether incomes of any type wt,atsoever from said property to be applied do the notes ahove•desctibed; but said
<br />Gummercial shat! in ne case be IiaGle for the faHu€e to procure tenants. to collect roots, or Ic prosecute achdns to reco~r possessiarr of sa;d premises. ,
<br />The Mortgagors further appoint Gn:~,meraal of Omaha, Nebraska. kheir attorney in tact. giving said attorney power irrevw~abip, either on its oivrr
<br />name ar Mortgagors' names to take ai! netassa~ steps fo€ proceedings in tart or odtarwrse, to causo said premises rd be vacated, ht totictt rentals
<br />qr other incomes due. and when vacant. to stet the same. to make all reasonable repairs and pay taxes out of said rents. profits, tdnhact paymdits or
<br />incomes and to do art such ih,ngs other Gv its awn officers or 6y ottrer pathos duty authGrizdtl and appointed Gy if, as its agent tar sa€d purpose. and
<br />to charge er pay a reasonahie fee for such ierwces. ail al the aix+ve to ba done at such limes and in snob manner and on Ssch !erms as ta thei€ Said
<br />attorney may seem best. w;th tu!+ pr-wet cf subshtuticn
<br />??inn Mortgagors he€nny grce i~.,at :f Gnrn±;err,al e,thc„ vo!;,,ntarr!y or invo!<:ntar:!y ~co.^.ies e; is .^.;ade a party is ar:, nuts e;r p;;~°edrng retanng
<br />to the hereinhefmd described real estate, or to this r;;nngage or said note ar notes, other than a foreclosure inshluted 7y Crxnmeicial, Mortgagors wilt
<br />reimburse Commenial for aIS reasarable casts incurred GY Commdraat in Baia suit or proceeding. The Mortgagors further agree that rf Na herembofrxe
<br />described real estate er ary part ,^ere_! ~ twidemned :order the rower et esrrnent domain, ar !s dfherwise atqui€tt! for a pwbiat cse. Me dama;~s
<br />awarded: the pr weeds to: the ~k:nd and to€ the cxslde€ahuP for s,rtn acquisihcin to the extedl of the full amount df the remain unpaid ru~btEd-
<br />7resS secured try this mortgage. 4e, and they hereby are, assigned to Commercial and shall be paid (drthwith tq Commereiat td app don actamt of
<br />the last matunng inStaHments of sucG ,ndeMt~kesS r
<br />7th Se tetnber ?9 °
<br />Datedthis~_~~~daydr___ ~? ._..__.--.__-, I9 ._.-._. , Appr zs.'
<br />1 - Ch. 4 - 'S~
<br />IN THE PRESENCE OF»
<br />rr : 'Derald L, c 6r~~~st~j ~
<br />7 ~ STATE pF NEBRASKA -_-~ - Donna K. Griffis `~-1L'
<br />°""°`~OUNTYOF Hall ". ss. _~__~~~__~.__~_.._,._.._.----.
<br />On this ___Zt;~Tr._ day dt m..._~pL~4!~?er_ __.. , 19 79. ,before me, a notary public in and for said County, personalty came
<br />the above namod
<br />to me welt/ known to trz the identical person ar persons whose name is ar names are Mixed to the above mortgage as grantor or grantors and they. he
<br />._ :. __,.
<br />er she - ..' ' " -trumerit arrd the exeeation thereof, fo be their voluntary act sad deed.
<br />~arrrr~~ y and yoar lest above written. r~ e .~/
<br />' ~ VV _ - - ---- -- .. y _ _- ---
<br />~~ ~1P.t~?- -_. 14.1. _Notary PuGiic 6t. by
<br />lily commission expires on the day of
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