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79~' ~'>~:~"~`n~m. I~ ~ L ~ '~dI C~ R T C~ t~ ~~ E , n_ , ~???~~-.a F ~AS.riiCvFid~iEFI~T OF FtPt1T5 _VCr..rp..__._._-_----.._._.__._.. KN04V ALL MF.Pd BY 1'1iESE PRESENTS: Thai Rasfald L, McClelland ant Fat~ri~ i~ A, Iic~ixll nd hand ~ttad alto ereina a called tie or'Egagors) un cons~rat{err o: e su . o Fifty 'Plaice thousand dallaa~s and. Nclif3il-_____.________ _____,.__,.-_-Boklars (S 53,44fJ,dDOe y loaned to Mortgagors, do herebyy grant, bargain, serf and convey onto COMMERCIAL FEDe'RAL SAVINGS AND LOAN ASSOCIATION of Omaha. Nebraska, (hereinafter called "Commerciai'7, its successors and assigns, the following described roof estate, siiaated in the County af, Hall, State of Nebraska, to-wit: _--Lot Six (5; in Block Tito (?3 Lake Davis Acres Subdivision, Hall County, Nebraska.--- TO FIAVE AND TO HOLD THE SAME, with the appurtenances thereunto beiong+ng, unto Commereral, +ts seccessdrs and assigns. forever. Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfully seized of sa+d premises, that they are free from encumbrances, and that they will forever warrant and defend the title to said premises against the lawful claims df aft persons whomsoever. Provided, nevertheless, these presents are upon the following conditions: That whereas the said Mortgagors as members df Commercial have this date executed a note evidencing such loan and agreeing to repay said 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 8y-Laws of Commercial. That whereas this mortgage shall secure any additional advances, with interest, which may, at the option of Commercial, be made by C-0m- mercial to the undersigned Mortgagors or their successors in title for any purpose, at any t+me before the release and cancellation of this mortgage, but PROVIDEG, HOWEVER, at no lime shall the aggregate pnncipal amount secured by this mortgage, being the amount due at any time on said original note and any 2dditional advances made, exceed an amount equal to I10 percent of the amount of the original note, but in no event shall said note exceed the maximum amount permitted by law. and PROVIDED, HCWEVER, that nothing herein contained shall be considered as limning the amount that shall be secured hereby when advanced to protect the security or in accordance with covenants contained in the ncrgage. Now, if the said Mortgagors shall pay or cause to ~ paid the said sums of money when due, as set forth in said note, and any other Holz for additional advances made until said debt is fully Paid with interest, then these presents shall be void; etherrrise, to be and remain in full force and effect; but if default should be made: (a) in any of the payments due on sa+d note, and any other Hate for additional advances made, as therein agreed to be made for three months, or ibl In keeping the improvements cn said premises insured against loss by reason of fire, lightning, and other hazards included in extended coverage insurance in an amount not less than the unpaid balance of said mortgage loan, in a company or companies acceptable to Com- mercial, ±he original of such policy dr policies to be held by Commercial, and wish a mortgage clause attached to said policy or polices. m favor of Commercial; or !ci In the payment of taxes and assessments levied upon said premises, or on this mortgage, before they are delinquent; or (d1 If there is any change in the ownership of the real estate mortgaged herein, by sale, either outright or trv land contract, or by assignment of any interest thereon or otherwise; - then, in any of the above sehfdrih events, the whole indebtedness hereby secured shall, at the option of Commercial, immediately become due and 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 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 any other note for additional advances, together with all sums paid by Gommerciai for insurance. taxes, assessments and abstract extension charges, with interest thereon Pram the date of payment at the maximum legal rate. PROVIDED that in na event; either before or after default, shall the interest due under said note and this mortgage and any other note for ad~ ditional advances made exceed the maximum lawful interest rate. PROVIDED, further, that in the event that default scars in Ehe making of the payments due on said note, and on arty other note far addnionai auvanees, as therein agreed to be move, or in koeping the premises insured, as above provided, or if default be made in the payment of the taxis or assessments levied upon the premises above described or upon this mortgage, before they are by law delinquent, Commercial -":ail be entitled to the immediate possession of the premises above-described, together with all rents, proceeds and issues anctrig put cf the premises and ^-ray in its discretion use the runts so far as it deems necessary for the purpose of making repairs upon the premises and fdr the payment cf insurance premiur;:.s, taxes and ass€ssments up,.n such premises, and for necessa expenses iocur;ed in renting said premis€s and ccilaeting rent therefrom, and to apply same on said note and any notes evidencing future advances hereunder unfit the indebtedness secured rs fully paid; and for such or,rpnses. the undersigned does hereby set(, assign, set Duet and transfer unto Gommerciai nit of sa+d rents. proceeds and incomes including any land contract payments due mortgage ow;,ers ar any other iacvmes at amy type whatsoever from said property to 5e appited nn Coe notes abovedescribed; bdt said Commercial shall in no case be liable for the failure to procure tenants. to collect rents, or to prosecute acbons to recover possession of said premises. The Mortgagors further appoint Commercial of Omaha, Nebraska. thei r attorney in fact, gw+ng said attorney power irrevocably, either on its awn name or Mortgagors' names to take all necessary steps for p+aceedings in court dr otherwise, to cause said premises to be vacated, to collect rentals or other incomes due, and when vacant, to relet the same, to ,,.eke all reasonable repairs and pay taxes out df said rents, profits. contrast payments or incomes and to tlo alt such ffiings either by Rs own officers or by other part+es duly authorized and appointed by tt, as its agent far said purpose. and to charge or pay a reasonable fee for such services. all of the above to be done at such times and in such manner and do such terms as td their said attorney may seem best, with full power of substitution. The Mortgagors hereby agree that ii Gommerciai either voluntarily ar mvoluntaniy becomes or is made a party to any suitor proceeding relating to the hereinbefore descrit>rd real estate. or to this mortgage or said note or notes, other than a foreclosure instituted by Commercial. Mortgagors will reimt,;rrse Commercial for ail reasonable i.osts incurred by Conuaoreial in said suitor proceeding. The Mortgagors further agree that .f rho hereinhefore descibed real estate or any part thereof be condemned under the power of eminent doma+n. or is otherwise acquired for a public use. the damages awarded. the proceeds for the taking, and for the consideration (or such acquisition to the extent of the full amount of the remaining unpaid iridebted~ Hess secured by this mortgage, tie, and they hereby ate; assigned to Commercial and shah be pa+d forthwith to Commercial to be applied on account of the last maturing installments of such indebtedness. Dated this __ 16th day of Novamber__„_.._. 19.79_., ~/A ~ ~ i ?.~~ / r tti-riE RESENC'c OF: ~:%111+Y•~,Eca!1~~~~~ j .-/~ ~ __ ~~~ `Ronald L., kcClelland `1 ~_~-- ~ - t _..r'' I z'. - ,j t. ~ t`_.-~`~, rf ! Vii, ~ _ ,. ` _ _. STATE OF NEBRASKA Patricia A. McClelland COUNTY OF iU1LL ss' _ --__.__--._ On this __ 16th day of .. N~°~'~x___.. _ ._._. 19 79_. ,before me, a notary public in and for said County, personally came Ne above-named Ronald L. McClelland and Patricia A. McClelland, husband and wife. _ to me weU known to tw the identical person dr persons whose name is or names are affixed tc 6`te above mortgage as grantor ar grantors and they, he or she, soveralP acknowled the said instrunrcrrt and the execution thetF-` i„ ra ""-~ ~-~i~~ntac ~ ge y act and deed. ,~„~efd t WITNESS my hand and Notanai Seal this day and year t~ r ~" n ( ~ _ ~ iitx ,,,,.,,.,....I otary Public My commission expires an tho...L~_._~~day of_~~~__-- . IQ~ 'ri 5Q