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~~,.~^' ~~.~~~~) EXPANDf~BL~+~ iVIGRTGr'h.tC~rF ~^,rro_3
<br />ASSIGNMENT fJF RENT5 Lnan r~:~~. _._..._.__,:_'....---._.-...__~_
<br />KNON! ALL MEN BY THESE PRESENTS: That Frank: C . idicbcls and Nanc3~ Lu tls:~chol.r>, lrus3o~saad .and wife
<br />Twenty FigPrt thousand four 'hundred dollars and~l~rp1e0~^ called the Mortgago_rsy in consid~r2tE nNt00 e0oyt,o~
<br />Dollars {5"'' >
<br />loaned to Morfgagors, do hereby grant, bargzin, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha.
<br />Nebraska, (hereinafter called ` ommeraal"}, its successors and assigns, the following described real estate. rtuated in 'he County of,
<br />State of Nebraska, to-wit:
<br />--Lot Mine (9) in Block Twenty Eight (2B) in Packer and Burr's Second Addition to
<br />the City of Grand Island, Ha11 County, Nebraska.---
<br />TO HAVE AND TO HOLD THE SAME, with the appurtenances thereunto t?long!ng. unto Cemnercral. its suaessors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Cnrnmerdal, its successors and assigns, that h1ortgagors are iawtru':y seized of said promises, that
<br />they are free 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 contlihons:
<br />That whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loam and agreeing to repay said
<br />sum of money, with interest, in payments as set forth in said note and have agreed to abide bV the terms of said note and Charter and Bylaws 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 purprse. at any hole before the reloase and canceilahon of this mortgage.
<br />but PROVIDED. HOWEVER, at no time shall the aggregate principal amount secured by this mortgage, being the amount due at ary time on said
<br />original note and any additional advances made, exceed an amount equal to 110 percent of the amount of dre original note, but in no event shall
<br />said note exceed the maximum amount permitted by law, and PROVIDED, HOWEVER, that nothing herein captained shah be considered as hmrting
<br />the amount that shall be secured hereby when advanced to protect the security or in accordance with coeenanis contained in the mortgage.
<br />Now, if the said tAorigagors shall pay or cause to be paid the said sums of money when due, as set fortfi in said note, and any other note for
<br />additional advances made until said debt is fully paid with interest, then these presents shall 6e void; otherwise, to tae and remain in full foie and
<br />eftect; but if default should be made:
<br />la? !n any of the payments due un said note, and any other note for additional advances made. as therein agreed to be made for three months, or
<br />(trl In keeping the improvements on said premises insured against loss by reason of fire, IighNing, and other hazards included m extended
<br />coverage insurance in an amount not less than the unpaid balance of said mortgage loan, in a company or companies acceptable to Com~
<br />mercial, the original of such policy or policies to tra held by Commercial, and with a mortgage clause attached to said policy or policies,
<br />m favor of Commercial; or
<br />tc) In the payment of taxes and assessments levied upon said premises, er on this mortgage, before they are delinquent; or
<br />(tl) If there is any change in the ownership of the real estate mortgaged herein, 6y sale, either outright or tW land contract, or by assignment of
<br />any interestthereon or otherwise;
<br />then, in any of the above set-forth events, the whole indebtetinass hereby secured shat i, at the option of Commercial rmmediatety become due and
<br />payable without further notice, and the amount due under said note and any other note for additional advances made shalt, hom 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 additional advances. together with alt 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 or after default. shall the interest due under said note and this mortgage and any other note for ad
<br />dihonai advances made exceed the maximum lawful interest rate.
<br />PROVfDED, furdre nr t ,n uh _ event char deta~~tt ncou!s in the making of the payments due on said rota. and o any ache=_ ,-,se far nrr~Mat
<br />advances, as therein agreed !o he made. or :p keeping d?e premises insured, as atwve provided, er rf defau!? be made in the payment of d?e faxes
<br />or assessments levied upon the premises above descnhetl or uprrn this mortgage, before they are by law delinquent. Co>mmeraai si~~dit ~ enhtfed
<br />tC ;ne ImmediafP pr133e53ien of ~e premise's ai~jVe~deSCr~fied. together with ail f'crita, prOCeed~ arnl y~ue5 a'~~in~ ~~ri of ifie -irf?r iSeS. and ,;1c
<br />+n its disoretiori use the rents sG far as rt Groins necessary fGr the ~rrpnse Gf making repairs upvn the c;Gr„uses and for i; c c~yR~ ~t o` rrts;:ranco
<br />preen+ums, taxes and assessments uFe?n such promises, and for necessary expenses inrurrod in rer,hng said premises and coftGchng rent therefr~r, a+rd
<br />to apply same ar 'acid ~@tr "and any rr ras griun- anq ;_Ru- -a.rte~ ~ Eder ~.r ~-- rnda~ e~~ ~ 5e - u . -_- , Fa.~; a?~,', - 3u?; -
<br />~e undersrg-rrnd door hetetry se_!1. assign. set aver and transfer ante GGn?merc!a! al! a€ card tents proceeds sntl sncoruas snr±udrrry>rry {ar_d ca;ttrct
<br />payments duo mortgage owners ar any other incomes of arty type whatsoever from said prcpertY to be applied Gn the notes atrove destribed; trot surd
<br />Gommercrai shall in nor case tro liable for the failure to proeme tenants. to collect rents. or tc prosecute actions tc recover pnssessran of said premrses.
<br />Tho Mortgagors further appoint Commeaial of Omaha. Nebraska, their attorney m fact, gwing said attorney power irrevocatrly. either on its own
<br />name or Mortgagors' names to take a1I necessary steps for proceedings m court or otherwrse, to cause said premises to be vacated, to collect rentals
<br />ar other incomes due, and when vacant. to relet tfie same, to make all roasonable reparrs ar;d pay taxes out of said rents, profits: ca?tract Payments or
<br />incomes and to do all such things either by its own officers or by other parties duly audrmized and aGpomted by it, as ifs agent fur said purpose, and
<br />to charge or pay a reasonable fee fur such servrces, a!I of the above !a be done at such limes and m such manner and on such terms as to their said
<br />attorney may seem best, with full power of substitution,
<br />Tne Mortgagors hereby agree that if Commercial ertner volurrtar~ly ur in;roiuntarslq becanle5 of is made a party to any suitor pn~eerding retahng
<br />to the horeinbefore described real estate. or to this mortgage or said note a notes, other than a foreclosure mshtuted by Con!merciai, Mwlgagars wit!
<br />reimtwrse Commercial tar all reasonable costs incurred try Commercial m said suit a proceeding. The tdortgagors further agree chat if the herernbefore
<br />described roal estate or any part thereof be candemnod under the power of e,nurent doniaur. or is otherwise acquired for a public use. the da~ages
<br />awarded, the proceods lot Gio Wking, and for the 4unsrderahu±? for such acqurs!htxr is the extent of the full amount pf the remaining unpaid indebted
<br />ness scoured by khis mortgage, ba, and they hereby arc, assr~ed to Commercsal and shall be paid forthwith to Commercraf to be applied un accsunt of
<br />me fast maturing installments of such indebtedness.
<br />Dated Nris._ 11th _day of .__S_~~?5.~~~ _ _---.. , i~?y---.- . : '
<br />y-.-% ~ -~
<br />` ~.~- :.
<br />Sf,~~_. _ __.- _...
<br />I
<br />t Frank C. Nichols ~ ~
<br />STATE Of NEBRASKA ~ ~~~ Nancy Lu Nichols
<br />COUNTY OF HALL ss ~~.__.__.____~__._._______._____._~~__.__..._.___.__...._ _
<br />11th September 79
<br />On this ~__.___ day of T._..,_m.,._ __.._._..__ ...- ..__ 19 _,.,, . , before me, a notary public M and for said County, personally came
<br />the above~named
<br />to me weft known to be the identical person or persons whose name is a names are affixed io t'ne above mortgage as grantor or grantors and they, he
<br />m she, severatiy acknowledge the said instrument and rho a ec~r~gr~,i~yayptary act and deed.
<br />$i~~aWOtD O. iNEDi3ERG
<br />WITNESS my hand and Notarial Seal this day and year 1 tperpm,Erq.0a.17, t97Y ~ , ,
<br />ffntary Public ~•
<br />My commission expires on the ~~_`.____.~day of. ~.j~?:_~-~°_ ~____, 19 ~ ~ M SU
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