|
~~°~~~~~~-~,`,~~ EXPANDABLE MC9PLTGAGE i~A,,,+~~_~
<br />ASSIGNMENT OF RENTS Loan Nu. _.__._.____,_..._.___
<br />(SNOW AI.L MEN BY THESE PRESENTS: That Larry D„ }lobo and Jace~ue Pl. :lobo, Etas":,'and anr„ wa.fe.
<br />(heroine ter called the Mortgagors) in consideration of the sum of
<br />Forty-'.'our thausanel six rundred and fif-ety dollars and ado/100 Dollars SS ~rl F„D , Slt1 }
<br />loaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AN6 LOAN ASSOC3A`'ON of Omaha.
<br />Nebraska, (hereinafter called "„ommercial"), its successors and assigns, the following described real estate, situated in the County of.
<br />State of Nebraska. to-wit:
<br />---Fractional Lot Cne (1) in Fractional Block One (1) Elm ?lace and its comolemeat
<br />tractional Lot: Gne (1} in Fractional Block EiEht (8} in Spaulding; and GreEE's Addition to the
<br />City o` Grand Island, Hali ~:ounty, Nebraska.---
<br />TO HAUE AND TO HOLD THE SAME, with the appurtenances Brereunio 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 free from encumbrances, and that they wi II forever warrant and defend the title to said premises against the lawful claims of alt persons
<br />whomsoever.
<br />, Provided, nevertheless, these presents are upon the following condtions:
<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 by the terms at said note and Charter and By-Laws of
<br />Commercial.
<br />That whereas this mortgage shall secure any additional advances. with interest, which may, at the option of Commercial, t>e made try Com-
<br />mercial to the undersigned Mortgagors of their successors in title for any purpose, at any time before the release and cancellation of this mortgage,
<br />but PROVIDED, HOWEVER, at no time shall the aggregate principal amount secured 6y this mortgage. being the amount due at any lime on said
<br />original note and any additional advances made, exceed an amount equal to 110 percent of the amount of Lhe original note, but in no event shall
<br />said note exceed the maximum amount permitted 6y law, and PROVIDED, HOWEVER, that nothing herein contained shall be considered as iimitii~g
<br />the 2mount that shall be secured hereby when advanced to protect the security or in accoNante with covenants contained in the mortgage.
<br />Now, if rho said Mortgagors shall pay or chase to be paid the said sums of money when due, as set forth in said note, and any other note for
<br />additional advances made until said debt is fully paid with interest. then these presents shall be void: atherdise, to tie and remain in full force and
<br />effec!; but if default should be made:
<br />(a} In any of the payments due on said note, and any other note for additiona! advances made, as therein agreed to be made for three months, or
<br />tb; h. 'taping the irnpro~~m~ts ~ saiC premises insured against lass `~. reason of fire. tiltning, and other hands intliided in extended
<br />coverage insurance in an amount not less than the unpaid balance of -said mortgage loan, in a company oc companies acceptable to Com-
<br />mercial, the original of such policy ar policies to tie held by Commercial, and with a mortgage clause attached to said policy or polities,
<br />in laver of Commercial: or
<br />(cI In the payment of taxes and assessments lowed upon card premises, or on this mortgaxe, before they are delinquent; or
<br />.;d) if there is any change in the ownership of the real estate mortgaged herein; by sale, either dutrighi ar by land contract, or by 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 Cemmerciai, immediately become due and
<br />payable without further notice, and the amount due under said note and any other note fer additional advances made shalt, from 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 a? said note, and
<br />any other note for additional advances, together with ail sums paid by Commercial for insurance, taxes, assessments and abstract extension charges,
<br />with interest thereon from the date of payment at the maximum legs! rate.
<br />PROVIDED that in no event. oRher before or after default, sha!I the interest due under said note and the mortgage and any other note for ad-
<br />ditional advances made exceed the maximum lawhrl interest rate.
<br />PROVIDED. further. that in t; e event float dofaufl attars in the making of the payments Sue on said note, and on any other nets fctr additional
<br />adYant?S, aS Lhere{n agreed to ha mdrtp- ~C ,^ t~+r'piP.g nil' pt?Ln.IS?S !nSJCi'd, a5 3il^-Y~' ,^.-raV:d+.'e~i ~ ~f dn4~.tte ~ `"..R.,~.@ :.°. th@ ~y;.~i1t Of ~i£ `:}IQs
<br />Or aSSQSSmentS ifVled span die iNemiSeS abaVe deSCrltted t:r L'pon this maftgage, t7eiorQ they aFe by IdW dQirRQUQRt; G~rnettlat Shill! bQ enhHed
<br />to the immediate possession ai the premises atave oestritted, together with ail rents. proceeds and issues arising out of the aemtses: and may
<br />is its di-screti2n use the rents s^ fat as it de?n?s net€ss~~?v ! ~ the pr:rpase ai making repairs u~.R She pr?;ses ar~d fer the pay~;,entot insurance
<br />premiomS, taxes and aSSdSSmen fS LrAn such ure?ri s@S, and for necessary expensQS intlrred =n ;ertt,.i~ S_+I is ~awnrxPg and n;:~t,~g EL.;t ~~rr~.
<br />to apply sar:~e an sold note and .,. r ales ev:den~ind ;;:lure adaantas hereunder anti, the ;nde6to~ess secured ig fully paid: and far such qurposes,
<br />r ! r are~s~ren yes ^ goy ,.- fssr~:, s, -~ a d ~. s ~- ti, . - - rota: a - f said ~ ks, r- tc~ _ and to ~.,QS anet~~ng y t e~tatt
<br />~yr?tents ~e n:ejtu~an awns s ._; y o`ra;pi~~fn inz _t a- r ys- +:hats_~ver f •~: sa'd ;~Y;.~ tr ~ a~~: c~ wt€s ~ 2~rtr. ~ ~fiv
<br />Gommertral shall in no caso he noble fe. the failure to procure tenants, to Collect rents, or ko prosecute actions fa recover possession of said premises,
<br />The Mortgagors further appoint Commercial of Omaha, Nebraska. their attomey in tart. giving said attorney power rrrevocaoly, eitller on its own
<br />name or Mortgagors' names to take alt necessary steps for proceedings m court or otherwise. to cause said premises to be vacated, to caitett rentals
<br />or other incomes due, and when vacant, to islet the same. to make all reasonable repairs and pay taxes out of said rents, profits. exttratt payments or
<br />incomes and to do alt such things either by its own officers ar by other parties duly auUtanzed and appointed by rt. as its agent for said purpose, and
<br />to charge or pay a reasonable fee fur such services, aU of the above to be done at such tones and m such manner and an such terms as to their said
<br />attorney may seem best, with Cult power of sutastltuhan.
<br />The Mortgagors hereby agree that if Gonunorcial either valuntanly ar rovoluntarliy becomes or is made a party to any suit or pr ~eQdtng rotating
<br />to the hQreinbefore described real estate, or to this rnottgage or said Hate or Hates, other than a iareclosure instituted b5' C~r.:eercta' Mortgagors will
<br />roimtrarse Commercial for a!I reasonable costs Incurred by Cammerc,a! ;R sand salt cr pratrQdlRg. The'~rtga~rs f,trtw,e, agrQa urat ~t .~"~ hercrra~l`orQ
<br />destnhed real estate ar env part thereof be condemned under the power of eminent domain, or is otherwise acquired for a publ:c use tht da!nages
<br />awarded, the proceeds for the taking, and cur the cansidetation for such acgwsd~on to the extent of the full amount of the remarning anpard mdebted•
<br />Hess secured by this mgrtgage, tie, and Uley hereby are, assigned to Gammercrat and shaft be paid fprthwith to Canmert~at to rte appiEpd an acc^vunt of
<br />rho last mahuing Installments of snob uidebtedness
<br />R.. ~. ~;
<br />Dated this -. _..19th--~dayaf rn~e1?tem:er ---. t9 7't ,~ ~r, `
<br />tit THE-?Rt"tENCE Of: - ~; ~ ~''% ~->'`. )`' z-~` ."~_ t f~.
<br />~~
<br />_~_.~ ____.__.~.._____-___,_ ~ J~gte M Hahnr ~,__
<br />STATE DF NEBRASKA
<br />GOUNTY OF~r'j' ss. ~~
<br />On this __19ih.____- day of .' ~~tesaher.____ __ 1473.-_ ,before roe, a notar ty, personally came
<br />the above-named ~'' ~ y public in and for said Coun
<br />Larry D, l;al:n and Jacque ",. Hahn, hus),and and wife.
<br />to me weN known to be the identical person ar poisons wh_se name is er names are affixed to the above mortgage as grantor ar grantors and they, he
<br />er she, severa!!y atknuwl~~+*~~ *,.a~~'~ ~~€cf, tc ~ their v'afuntary alt and deed.
<br />WITNESS my hand and Nota ICiYYNi~-i~r n.
<br />~!~ ~j Notary Public
<br />My commission expkes on the _._ ~"' ~!_.___ day of __. _~~~~.____- . 19 41_ . P.1 5i;
<br />
|