|
~~'~~ ~~~~' EXPANI3ABLE MORTGAGE
<br />ASSIGNMENT OF RENTS Lozn No. _ 921410-6 `
<br />KNOW ALL MEN BY THESE PRESENTS: That Reginald L, Hain and Barbara J Hain, husband and wife
<br />(hereinafter called the Mortgagors) in consideration of the sum of
<br />Thirty-Three Thousand two Hundred Fifty and NO/100 -Dollars (,* -3 250.60--a-
<br />loaned to Mortgagors, do herebyy grant, bargain, sell and convey unto COMMERCIAL EEDERAL SAVINGS AND LOAN ASSO 1~T~0 of Omaha.
<br />Nebraska, (hereinafter called "Commercial"), its successors and assrgns, the following described real estate, situated in the County dt,
<br />Hall State of Nebraska, to-wit:
<br />Lot Five ~;~, in Block F.ig'hteen ~19~, University Place, an Addition
<br />to the City of. Grand Island, Hall County, Nebraska
<br />TO HAVE AND TO HOLD THE SAME, wide the appurtenances thereunto belonging, unto Commercial, +ts 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 free from encumbrances, and that they will forever vrarrant and defend the title tv said premises against the lawful claims of all persons
<br />whon+saever.
<br />Provided, nevertheless, these presents are upon the following conditions:
<br />That whereas the said Mortgagors as members of Commerciai 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 by the terms of said note and Charter and By-Laws of
<br />Commercial.
<br />That whereas this mortgage shall seuwe any addi(ional advances, with interest, which may. at the option of Commercal, be made by Com-
<br />mercial to the undersigned Mortgagors or their successors !n title for any purpose, at any time before the release and cancellation ct the mortgage.
<br />but PROVIDED. HCWEVER. at no time shall the aggregate pnnc+pal amount secured by this mortgage. ding the amount due at any .,me on said
<br />original note and any additional advances made, exceed an amount equal to UO percent of the amount of the original note, but in na event shall
<br />said note exceed the max+mum amount permitted by law. and PROVIDED. HCWEVER. Uiat nothing herein contained shall be considered as limiting
<br />the amount that shalt be secured hereby when advanced [o protect the security or m accoNance w+ih covenants contained in the mortgage.
<br />Now, is the said Mortgagors shall pay or cause tc be paid the said sums of money when di;e. as set forth in said note, and any other note for
<br />additional aucanCes made until said debt is fully pa+d with +nterest, then these presents shalt oe vo+d: dNerwise, to red and remain in full force and
<br />affect; trot it default should be made:
<br />tai to any of the payments due on sa+d note, and any other note for add+tivnat advances made, as therein agreed [o be made for three months, or
<br />16! In keeping the impravemen!s on sa+d premses insured against loss by reason of fire. lightning. and other hazards indnded in extended
<br />coverage ,nsruance ;n an amount not less than the unpa.d balance of sold mortgage !van. rn a rompany yr companies adceptabie to Can
<br />merc+al, the original ar such pol+cy v+ pu4reir's tc Ix= held by~ Commercial, and w: th a :ncrtgage Clause attached to Said pnltdy Or pO]icieS,
<br />in fawr of Commercial: a
<br />ic7 In the payment of fazes and assessments leered upon sa+d pmm+ses, a+ on th+s mortgage. 6efvre they are delinquent or
<br />(d) If there is any change in the ownersh+p of ihz root estate mmigaged here+n, by sate. either outny~,t er by rand contract. or by assi~ment vt
<br />any interest thereon or othzrw+se.
<br />then, in any df the above set~forth e4ents- the whore +ridehted°,ess hereby secured shalt. at the vpLon of Canmercras_ tmrvey3tely beenme ~fe and
<br />payable without further notice, artl the amount due uade! sa+~: dote and any other note for addibdnai advances made shall. from the date C' ;rte exercise
<br />of said option, bear interest at the maximum legal vale per annum. and this mortgage may then be foreclosed to satisfy the amount due vn said note, and
<br />any other note for additiena! advances, [ngether with ail sums da+d by CommerCra! for insurance. taxes, assessm_wtls and ahsiract extdasrvn charges,
<br />with interest thereon from the date of payment at the max+mum legal rate.
<br />PROVlDEO chat 'n rid event, err herded ~: aft^.:~tautt, ~rati +#re r^teresi doe under card dd±e and Mrs rndrtga~ amt any C?€~s 2nte =.-__ ~-
<br />ditivnal advances made exceed the maximum iawf,i interest :at2-
<br />PROVtDED, further: that io ?he everrt treat dvtau t vtiLrs ~n the !rak!ng of the payments due on said note. and ~: mr. otltdr rid?d fcu addrt:nrra
<br />advaaees, as therein agreed td be made. or ter kC~p,rrg trio sae; ~sas ;n'sarad, as above provided, or if default be ,=add .n Ylc payment cd the taxes
<br />nt aSSnSS:~,en tS 12er~ upw, inc~:iS@5 atn,:_ __`C., ~: "~ OE ;~ „ ., r";gage, i#fdre they ate by taw u8iviyuci"i?t - -
<br />4a:tn,'c:tra"` I ~ 5!fl t!~.
<br />.,_...
<br />d the immediate ~ssess,:~t ~.t me ~:~~rs'}s ~~._-~__ .._ _. z, th a rm!?s, proceeds an.. Issues .. s..r ,R;.~~.e ~.>~;ses ~..=~„y'
<br />*, .. !:
<br />+n ifs disrebGn use the rents Sd iur e~ ~# dcema :~eeeaac;v s: ore yu+pu~c ut nuking repairs upon ltd otemi SeS ~b er t"4 ~ya;»n? ~# iRgrr§R[e_
<br />n_rw__ni+imc taxes and zcses~nents ~+rrari test r~e~!r5es_ and fn! nPCesc3n? expr»~eS incrytrA in ranting Maui ~rnrrrcac ann -rl6xr!inn emt kxrn~ir~- ~r
<br />' t0 apply Some do $ain note and any nOte3 CVrd~tting tuflrrd ad VanCCS hdrCUnder rinhl trio Ind$btddne$$ $ecdted IS rnirvxpald:land tCt~Sntt1 txrrpdSES,
<br />the undersigned does hereb} se;- assign $et dy'e ado ira;,sfe _ Ltrir r,ai a;r • said rents. prncddds and ,noes rncH~s any j++a±e~:tr3ci
<br />payments due mortgage owners or any diner utwmds of ary type whatsoever frpm said property to t7d applied an the notes above~descrrbdo, but said
<br />Commercial shall m no case he i+abte for the ta,!urr, tv procure tenants to cn+!dct rents, a to pmsdate actrvns to recover „,vssess:e+r of sa;o pr,m,Ses.
<br />The Mortgagors further appdrnt Ctrmmerc,al of C~,a#ra. Nebraska, tt>e:r at?erney in fact, grvrng sa+d a?trrey tx;wer +rrewCab'y. ertAer o:r;ts own
<br />name or Mortgagors' names !d take ail necessary steps for prviceed+ngs +n court os atltorwisd, to cause sa+d prer!+sds to ix vacated, td CditeCt ren+als
<br />or other incomes due, and when vacant. tv rotor the soma tc make al! reasonable repairs and pay taxes dui of said rents. secrets- contract paymtxt~ nr
<br />Incomes and to dv all such th+ngs eidrer by +ts awn otf;ce!s yr by other parties duly author+zdtl artl appointed by ,t as +is agent for card purpose, and
<br />to charge or pay a reasonable fee far such serwces all cf the above tc bd dorm at such times and in such manner avd err s.s^. to+ms as to dreir sa.d
<br />aliomuy may seem §est, with full power df subst+C;hon.
<br />The Mortgagors hcmby agree that if Commere+a! erthet vcluntaniy at urec!ontarly 6ecames er rs made a arty to any se,t 3i pemaedmg relating
<br />to the hereinbefae described real estate. or to this mortgage m said note or notes. oChei than a iorectosare instituted !x Ce;n!nerc;ul. Mdrtgagvts weft
<br />rsimburse Commercial for all reasonahlo costs incurred vy Commercial in said snit or procded~ng The Mortgagcis turthei agree that +( the herembetote
<br />described mat estate or any part thereof be condemned under the power df eminent rkrmaur. m .s otherw,se aegwted for a public use, the damages
<br />awarded, the proceeds for the taking, and for tfld cvnsidemhmr for such acqu+siticxr to the extent of the tuft amount of the mmaining unpaid indehtc<1
<br />ness secured try this mortgage, be, and diay hereby are. assigned tv Commemal and shall he p<ard fatthwrih to Conrmdreial tv be afy?lied mr acedunt v."-"-
<br />Ute last maturing Inn Hments of such indehtedness.
<br />Rated this _.~.1__._.____T day of ~___ ...__,_ , 19 ~',~'~ .~' ~
<br />tN TN€ ER€S€NC€ fl€_ ~'~'~ ~ -' '~ ~ ' ~~ " ~` =~'~-~ •`' ``-
<br />~.~++~~ _ -Teginald, Haig --~ ~'
<br />G- ~.-. Hain~~~a ~~.~ .a
<br />~~.. ___ Barbara J.
<br />STATE OP NEBRASKA
<br />COUNTY OF ss. __~__-_ ~_...__,.__.____ ~______._____ T.__.T~~_
<br />tie above-named~~ i day nt;_~ 19~'~ .~~fore ore, a notary public in and for said County, per$onatly Came
<br />Reginald L. Hain and Barbara J, Hain, husband and wife
<br />to me well known to be the identical person nr persons whose name is or namesvvar~eyya~~,,f to the above mortgage as grantor dr grantors and Ney. he
<br />nr she, sdvera!!y acknowledge 4he mid instmr.!Ent and the xdC~t~4~TLi?rtary act and deed.
<br />IQ p ~pa.88888819E~~~KEaEa.1i1~ //.. I
<br />WITNESS my hand and Nntarial Seal this day and year t tom' { ~ J(r ~` ~ :-
<br />~ _ Notary PU6+c
<br />My commission expires onthu_ ~ ~_._dayof____.__f` _'~b_'.~~_....19 ,L7 MSO
<br />
|