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7~-~ ~[~`..~~"~`~~~ EX~'AtDABLB M4J~ZT~AG~
<br />ASSIGNMENT OF RENT$ Lnar~ No. _ 51709-7_-~
<br />KNOy'd ALL MEN BY Ti•IESE PR£S£hdTS: That Town and Country RO6al.ty of Grrand Zsland, Ina. a corporation.
<br />Forty Three thousand five hundred dollars anti, No(~elr~~after ra;iec) Ehe Ntorigagorsl in cansiviaeration of the s~~ of
<br />____________ _`Dollars t~' 43 500.00. 7
<br />loaned to Mortgagors, do ~erety grant, bargain, sell and convey unto COMMERCtAt FEDERAL SAVINGS AND LOAN ASSOGIZ.:ION of Omaha,
<br />Nebraska, ?hereinafter ratted "Commercial';, its successors and assigns, the following described real estate, situated in the County of.
<br />State of Nebraska, to-wit:
<br />---Lot Thirty Seven {37), in Block Six ~6~, Unit One Continental Gardens, An Addition
<br />to the City of Grand Island, Hall Couritp, Nebraska.---
<br />TO HAVE AND TO HOLD THE 5AP1E, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns, forever.
<br />Said Portgagors hereby covenant with said Commercial, its successors and ass;gns, Chat Mortgagors ace lawfully seized of said premises, 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 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 b)' the terms of said note and Charter and 8y-Laws of
<br />Commercial.
<br />That whereas this mortgage shall secure any additional advances. with interest, which may, at the option of Co!nmercial, be made by Com-
<br />mercial to fhe undersigned tortgagors or 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 secureG by this mortgage, being the amount due at any time on said
<br />original note and any additional advances made, exceed an amount equal to 110 percent of the amount of the original note, but m no wen` shall
<br />said note exceed the maximum amount pennrtted by law, and PROVIDED, HOWEVER, that nothing herein contained shall be considered as irraiting
<br />the amount that shall be secured he[ehy when advanced to protect the security or in accordance with covenants contained in the mortgage.
<br />Now, if the sa~n Portgagors shall pay or cause to be paid the said sums of money when due: as set forth in said note, and any other note for
<br />atlditienal advances :jade until said debt is fully paid with interest, then these presents shall be void: otherwise, to be and remain in full force and
<br />effect; but if default should be made:
<br />ta? In any of the payments due on said note, and any other note for additional advances made, as therein agreed to be made for three months, or
<br />ib{ in keeping the improvements nr, said premises insured against tens by reason of fire, lightning, and ether hazards incioded in 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 be held by Commercial, and with a mortgage clause attached to said policy or policies,
<br />in favor of Gnmmercial: or
<br />tc; In the payment of taxes and assessments levied upon said premises, or on this mortgaue, before they are deinquent; or
<br />!tl) If there is any change in the ownership of the real estate mortgaged herein. by sale, either outright or by land contract. or by assignment of
<br />any interest mereon or otherwise; _
<br />then, m any of the above set-forth events, the whole indebtedness hereby secured shall, at the option of Commercial, immediately become due and
<br />payable without further notice, and the amount due under said note and any other note for additional advances made shall, from the date of the exercise
<br />of said option, bear interest at foe maximum legs! 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 aII sums paid by Commercial for insurance. taxes. assessments and abstract extension charges,
<br />with interest thereon from the date of payment at the maximum Iega! rate. --
<br />PROVIDED that ir, no event, either before or after default, she!! the interest due under said note and this mortgage and any otfrer note for ad-
<br />diti~nal advances made exceed the maximum lawful interest rate.
<br />PROVIDED. former, that in the event that default occurs in the making of the payments due ar. said note, and on any niher note for additional
<br />adva„yes, as ere;r Breed to be made, or in keeping the prmmises i,.,ured, as a~ve „•ded. nr if default ~ made In the pay!::ent of the taxes
<br />or assessments Ieviad upon the premises above described nr upon this mortgage, before~~they are by law delinquent. Commercial shat! be entitled
<br />to the immediate possession o± me premises atmve-described, icgether wil'n all rents. proceeds and issues arising out of the premises, and may
<br />in its discretion use the rents so tar as it denms necessary for the prrrpasc ai n:akiag rep-airs open the premises and fn: the payment of insurance
<br />^ssn,~ums ra°es and assessments [[non such prem[ses, and for necessary expenses iocurree iu rentiog said premises ann cnffecnng rent ineretmm: and
<br />tc apply s~a;a on said note and any notes evidencing future advances hereunder until the indebtedness secured is toffy paid, and for such purposes,
<br />:;.e undnrsigned dies hereby sell, assign, s€t over and transfer ante cnmmercrai ail of said rents, proceeds and incntaes inciudiag ary land contract
<br />payments ifue mortgage owr.ars or ary other incomes of any type whatsoever #rG~n said property to be applied ~ the notes at;nn•descr#bed; brit said ----
<br />Commercial shall in no case be liable for the failure to procure tenants, to collect ruts, or to prosecute aehons to recover possession of said premises.
<br />The Pdcrtgagors further appoint Commercial of Omaha, Nebraska, their attorney in fact, giving said attomey power irrevocably, either on its own
<br />name or Mortgagors' names to take all necessary steps for proceedings in court or otherwise, to cause said premises to be vacated, to collect rentals
<br />or other incomes due, and when vacant, to relet the same, to make all reasonable repairs and pay texas out of said rents, profits contract payments or
<br />incomes and to d^ all such things either by its own officers or by other parties duly authorized and appointed by it, as its agent for said purpose, and
<br />to charge or pay a reasonable fee for such services, ail of the above to be done at such times and m such manner and on such terms as to then sa,d
<br />attorney may seem best, with full power of substitution.
<br />The 69ortgagors hereby agree mat if Commercial either voluntarily ur involuntarily becomes or is made a party to any suitor precaed~ng rotating
<br />to the hereinbeiae descibed real estate, or to this mortgage or said note or notes, other than a foreclosure instituted by Commercial. Pdcrtgagors will
<br />raimtxirse Cotnmerc,al for all reasonable costs incurred by Commorcial in said suitor procoetling. The Mortgagors former agree that ;r. Cho here;n~fnre
<br />described real estate or any part thereof be condemned under the power of eminent domain, or is otherwise acquired for a public use. the damages
<br />awarded, the proceeds for the taking, and for the consideration for such acquisition to the extent of the full amount pl,th~femamm paid tndebtetl-
<br />ness secured bq this mortgage, t~, and they hereby are, assigned to Commercial and strati ~ paid forth ih to Conmiercial to be apph nn acceunt of
<br />the last maiunng installments of such indebtedness. ~
<br />Dated this____ 15th day of November _, 1g 79 (and ilia c6 orat seal of say$~
<br />Toren and Country Realty of Grand Island, Ina. a corporat', n? ~= ,f f
<br />-tN TP:E PRESENCE OF h - `~`'~
<br />r - -mod ---~~_---
<br />~ ~~~ ~~~ ~-r siderit ~ f~ r ,` d
<br />~9~ ~r ~~~~ /~ Attest : ~,.~~~-.- \`\ ~ ~r-~~„_ _~'~•___ _ty~ ~a ~,
<br />Secretary ~ ' ~ ~'
<br />"ST~F NEBRASKA ~, ~ ~ ~ .
<br />COUNTY OF BALL ss. _~.-.}-r~-es°~, ~vR :-
<br />15th November ?9 ~ ~ ,, F' .:-
<br />On this _____________._day of ____-__.___, , 19 ___. ,before me, a notary public in and for said County, (~`r'sbrtaUkl+~~ ,a'
<br />theabnve-named Fred kf. 3anisch, President, and Sandra R. Obermeier, Secretary of Tbri~.~l°.i°'
<br />Country Realty of Grand Tsland, lac, a corporation}
<br />to me well known to he the identical person or persons whose name is or names are affixed to the above mortgage as grantor or grantors and they, he
<br />nr st!e, severalty acknowledge the said instroment and the execution thereof, to ba their voluntary act and dend.as such off' ors and the
<br />of said cortroraticn, by themsn there official aap~5, done and
<br />• i k~ -°""ii eat this day and year last above written. 'p '' ~ executed.
<br />IMVCwrra~.AVixRiMti~ ,yE`f,/.ifi2„~/ ~-'c-._-_-___--
<br />t~~f F _ ---- --_
<br />40 _ Notary fsublic
<br />My commission expires on the ~5 day of _,n~ .____ . 19:~. M 50
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