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7g-~' ~Q~`7i EXPANDABLE MOE,TGAGE Loariflo._-.~.~.1!12Y-
<br />ASSIGNMENT OF RENTS --~---
<br />HNOW ALL MEN BY THESE PRESENTS: That ucr.;;a G. Crarrfcrd, a single parson.
<br />(hereinafter called the Mortgagors) in consideration of the sum of
<br />Twenty seven thousand nine hundred dollars and 2toi 1CC-------------0ol!ars iS ^" 2? 9CO.OO*y~
<br />loaned to Modgagdrs, do herab~ grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION of Omaha,
<br />Nebraska, thereinafter called "s,cmmerctal"), its successors and assrgns, the following described real estate, situated in the County of,
<br />State of Nebraska, to-wit
<br />---Lot Two (2) in Elec?c T~.ao (2) in Lanbert's Second Addition to the City of Grand
<br />Island, Hall County, +enraska.---
<br />TO HAVE AND TO HOLD 111E SAME, with the appurtenances thereunto belonging. unto Commercial. its successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that ?aorigagors are lawfully seized of said premises, that
<br />Grey are free from encumbrances, and Gat they wvl forever warrant and defend the title to said premises against the lawful claims of afl persons
<br />whomsoever.
<br />Provided, nevertheless, these presents are upan Ne fallowing wnditions:
<br />That whereas the said Mortgagors as members of Commercial have this date executed a note evidenticg sech Ivan and agreeing to repay said
<br />sum of money, with interest, in payments as set fore in said Dote and have agreed to abide by the terms of said note and Charter and B!-Laws of
<br />Commercial.
<br />That whereas this mortgage shall secure any adu'iiiona! advances, vriN interest, which may, at Lhe option n! Commercial, tre made by Com
<br />menial to the undersigned Mortgagors or their successors !n ti t!e for any purpose, at any time before Ne release and canteHation of this mortgage,
<br />but PROVIDED, HOV#EVER. at nc time shall the aggregate principal amount secured by this mortgage. being the amount due at any time on said
<br />orgina; note and any additional advances made. exceed an amount equal to 11G portent of the amount of Ne driginal ncie, but in no event shall
<br />said note exceed the maximum ameenf permitted by law. and PROVDED. HOWEVER, that nothing herein contained shall he consrdered as limiting
<br />the mnount Gat ~tafl iR secured he;et*; when advanced to nrotett the security or in accordance with covenants contained in the mortgage.
<br />New, if the said Mortgagors shall nay rat cause to be paid Lhe said sews of money when due. as set forth in sa;d note, and any other note for
<br />additional advances made until said debt is fully paid with interest. then Nose presents shall be void; nthervise. to he and remain in full forte and
<br />effect; but if default shoUtd be made:
<br />+.a} Ir, any of the pyments due on said note, and any other note to add~hona! advances made. as therein agreed [n be :node for three months, or
<br />(b) In keeping the improvements on said premises insured against loss by reason of tire, lightning, and other hazards included in extended
<br />coverage insurance in an amount not less Nan Ne unpaid balance of said mortgage loan, in a tympany cr companies acceptable to Com~
<br />inertial, Ne original of suet, poticv er patrties to 'x held by Commercial, and wiN a mortgage clause attached to said policy or policies,
<br />In favor of Commercial; m
<br />%cj In the payment of taxes and assessmcets levied upan said premises, or an this mortgage. before they are delinquent; or
<br />(d) IF mere is arty chmrge In the ownership of Ne real estate mortga~d herein, by sale. either outright or by land contract, of by assigtment of
<br />any interest Hereon or otherwise: -
<br />men, in any of the above set-forth even G, Ne whale indebtedness hereby secured shalt, at the option of Commercial, immediately become due and
<br />payable withart former notice, and the amount clue under said hate and any other note for additicna! advances made she!!, from the date of Ne exercise
<br />of said option, hear interest at the mazimnm logo! rat= per annum. and this mortgage may th~ be foreclosed to satisfy the amount duo do said note, and
<br />any otfrer note for additional advances, together with aH sums pid tr; CommertiaV for insurance, taxes, assessments and abstract extension charges.
<br />with interest merest firm: the date df pyment at Ne maximum legal rate.
<br />PROVIDED mat in nd e.~nt, either before or after default, shall the interest due under said note and Nis mortgage and any other note for ad-
<br />dititma! advances made exceed me sraximum lawful interesl rate.
<br />PROVIDED, hurther, that in Ne went Nat default ccturs in the raking of the payments due on said not=_, and on any other ncie for additional
<br />advances, as merern agreed in Ire nmde, ar in keeping +fie premises insured, as above provided, or if defiautt !re made in Ne payment df the taxes
<br />a assessnents levied open the premises above destritrud or open thrs mortgage, before Hey era tw taw dehnquarst, Commetcial she!! ~ entitled
<br />to ;.he immediate possessron et Ne premises atx ve-des~r.6ed, together wiN ail rents. proceeds and issues arising out of Ne premi<_es, and may
<br />in its discretion use Ne rents so far as :t deems necessary for fho ~arpose of making repairs upon Ne premises and for `~e payment of rnsurance
<br />premiuras. taxes and asse>sments upon sutra premises. and for necessary expenses ,ncurred in renting said pranises and collecting rent therefrom, and
<br />~ apply sire on said rrote and any notes endencrng future advances hereunder unlit Ge indebtedness s=_tured is futly paid; and for soon purposes,
<br />Cte o~rsigned ~ hereby sell, assign. ~t over and transfer unto Cammercra! all of said rents, proceeds sad mcxrres including any land edniract
<br />payments rice mortgage owners or any Diner incomes df any type wt!atS;^e'vet fror.=. said property In be applied do me notes above-doscribed; but said
<br />CommerciatshaH in rw case be hab!e tar the failure to procure tenants. to cot loot rents. dr td prosecute actions to recover pdssessioa of said premises.
<br />The Aortgagors former appoint !;.mnmertiai of Omaha, tebraska. their attorney ir, tact. givieg said attorney power irrevotaltly, either on its own
<br />n~ or kMortgagors' names to take adl necessary steps for prxeedings in tnurt or otherwise, to cause said premises to he vacated, to Collect rentals
<br />or affier intaoes one, and when vatar;t, tc reset the same. to ,:,aloe alt reasonable repairs and py lases out of said rents, profits, cantratt payments or
<br />incomes and to da at! such Nings eimer b}; its own dfiicers dr by dNer parties duly authorized and apncintad try it, as its agent for said purpose, and
<br />th merge or pay a raasenable fee for sr:dr ser~ces. a'! df fie aoove to Lre done at such t,mes and in such manner and nn Such terms as to their Said
<br />attorney may ~ best, wim full power of suttst;h;tion.
<br />lire tAartgzgors hereby agree that if Cnfasrtral e:Nzr ~^ofuntar,iy or ;rave:untar;fy becomes or is made a parry to any suitor proceeding relating
<br />is the hereintie=ote desCritst~f real estafe.:rs i.: Nis o~rtgage nr said neke cr notes. other than a fcreciosure ^.nshhited ~• Co+nmerc:ai. tddrtgagers will
<br />reimtaase Commercial for ail reasonats;e cns5 inWt2d ;hj Cxrmerria! ;n said suitor proceeding. 11:e tlo; tgagnrs further agrz° that it me herein"„Cfore
<br />tfi€stsi~ seat estate or arty part thereof be ~."atdertvred under Ne power of anirent amain, or is nmerwise acquired for a public use. the damages
<br />axrarded, tf~ ptoceeds for me frekiag, sad far Ge cwisrderafiort fnr such atquisiliar to Ne extent of Ne filti amount of Ne remaining urpatd iadehted-
<br />~ seratred 3y this nortgage, be, and they herEtry are. assigned to Corr=mert!al and shalt !te pelf forthwith to Commercial th be applied nn account of
<br />!f*e fast maltiing insmtimenis at sun=s indehtethsess. //~ /~
<br />ikled ihi5 r+i't ''+ay of r^tobe , 15 _=. / ! '
<br />/,/ ~~
<br />IAt TH CE`OF. +6fi~~`~'i'L g ?-~~'<1~7C~{G~--
<br />Dor:na :. Cra4r_oi~.
<br />STAT€ OF M~tA9(A
<br />{~itNTY OF FIALL
<br />On t~s kin ray of 4cialxr , 74 ~ ' °before rae, a notary publit in acrd for card County. personally tame
<br />ire alr4ve•rtamed
<br />Bonny ~. }rracvfor3, a single person.
<br />to nee yxtt krrovrn tb be the iden5cal parson or persons whose name is nr names are affixed to the above mortgage as grantor dr grantors and they he
<br />~i~atirr.arrh+nWl~ ~ instrument and the execution thereof, fo be Neir reiuntary atf and _d.
<br />~Mf,f~~Mrri~o4
<br />~ ~ s day and year last atwve written. ~ ~
<br />a~ notary Pu~!~c
<br />t.°q t;n;,m}ssio;,exp,reson thr: ~~ day of - ~~ ST _ . ,9c~.. M-~;~
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