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<br />IfFpt~Mf~ IAt' f fPi:"Nt F~ m'hrw"S';f R'E'F'"Irks "f~a` ~taA~va I>arvrlasttis, Zug,., a Hebrata =Worp~ratiaa
<br />'' -.'~,~~:! I I~~ afl~ ~ II:h+' ~.!r4l i*' IJ;. -^_ a! _' 1,ry ~ >•7t
<br />1'h„~trt~"D~".ili~ori~~a~oai,s;alndre~myig~ramt~tlbar~d~d+~3a.ar~sya~il '~Nd~,~l'~~f~E,rELEFnIt ya4~'t~l'il~'y ~4Nf~'lI(?„fvNF*#~Sai4D4~Illm
<br />Nebraska {nereinaft„+ Latled "Commelcrat }. riS S ~ 5_~£,. a „~. ~3 _:~"t;_ +~~e SJ>,?~~rrng de=£rrb2L` 'e"di` ?>tare ,r:~atad in t!te Count' '`
<br />Hall State of Nebraska. 'a-w_- }
<br />---Lot One (1}, in Island Acres t+utsber 3, being a Repiat of Lot Fifteen {15}, Island
<br />Acres, a Subdivision, in the City of Grand Island, Hall County, Nebraska.---
<br />TO HAVE AND TO HOLD THE SAtdE. wsth ':.e a- ,tK:c ices the•__,,., ~t r,g+ng. Ito G~~::-ei ciz!, irs succasscrs and assi~:s. frrc ver
<br />Said '.!artgagors barn ~ covenant with sa.d Co--erc a! s s:ccesscr> znd assiy+s. t'?zt b4~•tgagors are !awfu:!y seized of said premises, that
<br />they ae fry fro- anwmbrar,cas, and LSat they n~". fCrcver wzrrant and defend the btfe to szid promisor against the lawful claims at 21! persons
<br />wnomsoever.
<br />Provided. never;ha!ess, these presa°ts are noon Lhe fe!ov+ing conditions:
<br />That whereas the said tJ.origagors as me::hers ~f Commercial have this date axe*_uted a note av.dencing such loan and agreeing to repay said
<br />sum of money, w!th interest. in payments as set rcrth :n saki note znd have ogre°.d to anide by Lhe terms of said Hate and Cnarter and 3yLaws of
<br />Commercia!.
<br />Thai whereas th!s mortgage shall secure am; zddrtiena' advances, ~rrith interest, which ray, at the option of Commercial ne made by Com-
<br />menial to the undersigned fdortgagors cr ffieir suaesscrs in title ter any ourpose, at art' time before J:e release and cancellation of this mortgage,
<br />tout PROVIDED. HOM+'EVER at na time shall the aggregate principal amount secured by this mortgage. being the amount due at any time on said
<br />original ndie and any additional advances made. exceed an amount equal tc 11^u percent of Lhe amount of the o:igina(note, but in no event shall
<br />szitl note exceed the maximum amount perm+tted by law, and PROVIDED, HOWEVER, that nothing herein contained shat! he considered as hmiiing
<br />- trio amomt that shzil be secured hereby when advanced to protect the security er in accordance with covenants contained in the mortgage.
<br />"tow, if the said Mortgagors shall pay or cause to be pai6 the said sums of money when due, as set forth in said rrote, and any other note for
<br />adtlitirmai advances made until said debt is fully paid with interest, then these presents shalt be void; oherwise. to be and remain in full force and
<br />effect: but if datauft should be made:
<br />tai to any of the payments due on said Holz, and any other note far additional advances made, as therein agreed to bo made fcr three months, or
<br />ib) in keeping the improvements on said premises insured against loss by rezson of fire, lightning, and other hazards included 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 />- martial, Lhe original of such policy or policies to be held by Comrnerciat, and with a mortgage clause attached to said policy ar pc:cos,
<br />in favor of Commercial; cr
<br />(c) !n the payment of taxes and assessments touted upon said promises, or nn this mortgage, before they are delinquenf: or
<br />(tl} If there is any change in the nwnersh!p of ilia real estate mortgaged herein, by sale, either outright or 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 shat!, at the option of Commercial, immediately come 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 data of the exercise
<br />cf 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 oLhar note fcr addi6anai advances, together with a!! sums paid by Commercial for insurance, taxes, assessments and abstract extension charges,
<br />rriLh interest Lhereun from the dale of payment at the maximum legal rata.
<br />PROVIDED that in no event, either before or after default, shat! the interest due under said note and this mortgage and any other note for ad-
<br />_ ditienal advances made exceed fire maximum lawful interest rata.
<br />_ PROVIDED, further, that in the event that default occurs !n the making of the payments due on said note, and on any other note for additional
<br />advances, as therein agreed to be made, or in keeping the pre+m,ises insured, as above provitlad, or if defa;.~R be mzde !n the payment of Lhe thxas
<br />or assessments !eyed upon the premises atacve described cr upon this murtgaga, before they are by law delinquent, Commercial shaft be eniit!ad
<br />to the immediate passassion of the premises above-described, together with ail rents. proceeds and issues arising out of Lhe premises, and may
<br />- in itc discretion use the rants sa far as it deems necessary for the purpose of making repairs upnr. the premises and for the payment of insurance
<br />_ premiums, taxes and assessments upon such premises. and ter necessary expenses incurred in renting card promisor and coftecting rent therefrom, and
<br />to apply cams c~! said ncie and any notes evid~:£ir+g :`u*~re advances haceundar until the indebtedness sar''ured is fut'y ;,cid; a,:d Fr s::cn purposes,
<br />_ _ Lhe aadersigned does hereby sett, assietr, set over and transfec unto Commercial ati of said rents, proceeds and incomes including an_y land contract
<br />payments due martgaga owners or any other incomes of any type wiratsoaver from said property to be applied an the notes at~ve-described; brit said
<br />Commer£taf snail in no case be liable for fie fai!uce tr procure tenants, to cai!ect rants, or to pne secrrte notions to recoverpossession of said premises.
<br />The Portgagors further appoint Commercial of Omaha, Nebraska. their attorney in Eact, giving said attorney power irrevocably, either on its own
<br />name or Mortgagors' names to take ail 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 a!I reasonable repairs and pay taxes cut of said rents, profits; contract payments or
<br />incomes and to do ail such things either by its own officers or by other parties duty authorized and appointed by it, as its agent for said purpose, and
<br />to charge ar pay a reasonable fee for such services. ail of the above to be done ai such times and in such manner and on such terms as to their said
<br />attorney may seem best, with full power of subs:!tutinn.
<br />The Mortgagors hereby agree that if Commercial eitnar tiroluntarily or involuntarily becomes c is made a party to any suitor proceeding relating
<br />to the hereinbefare 4escribed rest estate, er to this !~ortgage er sold note or notes, other than a forecicsure instituted by Commercial, Mortgagors wilt
<br />reimburse Commercial for alt reasonable costs incurred by Commeraal in sold suit ar proceeding. The 4Aortgagars further agree that ii the nereinbefore
<br />described real estate or any part thereof be condemner under Yre power of aminant domain. or is otnerwise acquired for a public use, the damages
<br />awarded, the proceeds for the taking. and for the cuns!daration for such acquisdron to the extent of the full amount of the remaining unpa,tl indebted-
<br />- Hess secured tnr itlis mortgage, be. and they hereby are. assigned to Commerc!ai and snail be pa!d forthwith to Commercia! to be applied on ac£ount of
<br />the fast maLrnng installments of such intlebtedness-
<br />Dated this- day of November , 19 79 . (and the corporate seal of said
<br />- Octagon ImJjes~~tm~jantaf, Inc., a Nebraska Corporation)Octagoa Investments, Inc. `"~
<br />= iN TH~I/i/~ ~.c~s~?
<br />Ronald L. Smith e-Prr~sideat„;' ,,
<br />,`. e
<br />STATE OF NEBRASKA ~ ` 1
<br />COUNTY OF HALL ss. error ,~r`7/YIJlr l ~r1+~~611~` ~`,
<br />Donna !4. Janisch Treasu~r r°`
<br />On this ~~ .day of Havemher I4 79 ,before me, a notary public in and far said County; personafly came
<br />! the above-named Ronald L. Smith, President, and Donna K. Janisch, Treasurer of Octagon
<br />Investments, Inc.,a i~abnaska Corporation.
<br />- th me weft known b 6e the id~tica( person or persons whose rams is or names are affixed tr Yne above mortgage as grantor or grantors and they, he
<br />or she. s~varalty acknawt~dge the rid instmmen# and the axzcuticn thereof, to ~ C~,eic voluntary act and deed. as such officers and the
<br />voluntary act and deed of said corporation, by team in their official capacity done and
<br />WtTPiESS my nand and Notarial Seal this day grlrLajr,~:~5 ~ ~~~ f f~ a~acuted,
<br />t~eeu~.rmresrs~aua__ __.- -
<br />~~-~~ Piotary PuaLc
<br />f,My carom=. expires nn f're !7 ~ Gig 1G ~~ t! SC
<br />SSt>n
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