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7~"~-'!~r '' ~~~'~`! E P A ~1 S A B L E '~/I O R T G A G E 50487-5 ASSIGNMENT OF RENTS ~ `~." ' ------ -------- KNOIN Atl MEN 6Y` THESE Pt'tESENTS: That William £. Slatter ant Maz^la L. Slatter, husband and xife. thereinaEtes called tiwe Mortgagors} io con§i~eratinn. of the s~r~ of Ts+enty Nine thousand three bandied and fifty dollars and :do/100-------po!fars(9 29,350.00 } loaned to Mortgagors, do hereby grant. bargain, sell and convey unto COMMERCiAt FEDERAL SAVfNGS AND LOAN ASSOCIATION of Omaha, Nebraska. (.hereinafter called "Commercial"), its successors and assigns, the following described real estate, situated in the County of. Hall Stale of Nebraska, to-wit: ---Lot Ten (10) in Block One (11 in Dale Roush Second Subdivision, Hall County, Nebraska.--- TO HAVE AND TO HOLD THE SAk4E, with the appurtonar,ces thereunto belonging, unto Com„err al. its s;aessrs and assgns- forever. Said Mortgagors hereby covenant with said Commere!al. !ts successors and assigns, Jral t,9ortgagnrs are tawfuP,ti seized of said premrses, that they are free from encumbrances, and thz'. they volt forever warrant and defend +he tale fo said premises against the !a,vfw claims of all persons whomsoever. Provided, nevertheless, these presents are upon the following conditions: That whereas the said Mortgagors as members of Commercial have this date executed a note evidenang such !can and agreeing to repay said sum of money, with interest, in payments as set forth in said note ar,d have agreed to abide by the terr^s of said note and Charter and Bylaws cf Coin-,.erual. That whereas this mortgage shall secure ary addihonal advances. vnUr interest, which may. at the opt;en of Gommercral, be made by Com- mercial to the undersigned Mortgagors or their successors in bt!e ter any purpose, at any time before the release and cancellation of this mortgage, huf "rROVIDED. HOWEVER, at no time shall the aggregate principal amount secured by (tits mortgage, being the amount due at any time on Bard original note and any addihonal advances made. exceed an amount equal to 110 percent of *.he amount of the ongrral note, but in no event shall said note exceed the maximum amount permitted by law, and PROVIDED, HOWEVER, that nothing herein contained shall be considered as limiting (he amount that shall 6e secured hereby when advanced to protect the security or in accordance with covenants contained m the mortgage. Now. if the said Mortgagors shall pay or cause to be paid the said sums of money whet, due. as set forth m said note, and any other note for addrtwnal advances made until said debt is fully paid with interest, then these presents shall be void: othherwise, to be and remain in full force and effect; but if default should he made: ;a? In any of Uie ;,ayments due on said note, and any other note for additional advances made, as therein agreed to 6e made ter three months. or b? in keeping the improvements an said premises insured against loss by reason of tire, lightning, and cChes hazards included m extended coverage insurance in an amount not less than the unpaid balance of said mortgage loan, in a company or companies acceptable tc Com- mercial. the original of such policy or policies to be held by Commercial, and with a mortgage clause attached to said policy or policies, 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 (,d'~ !f there rs any change in the ownership of the real estate mortgaged herein, by sale, ether outright or by !and contract; or by assignment of any interest thereon or otherwise; then, in any of the above set-forth events, the whole indebtedness hereby secured shall, at the option of Commercial, immed!ately 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 amcwnt due an said note, and any other note 'tor adtliticnal advances, together w!th all sums paid 6y Commercial far insurance. taxes, assessments and abstract extension charges, with interest thereon from the date of payment at the maximum legal !ate. 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- ditional advances made exceed the maximum lawful interest rate. PROVIDED, furtnet, that in the event that default occurs in the making of the payments due nn sold note, and cn any other note far additional advances, as therein agreed to be made, or is keeping trio premises insured, as above provided. or !f default t'e mad? !n the payment of the taxes or assessments levied uocr, the premises above described or upon lh!s mortgage, before they are by 4aw deiinquer~t Commereraf shalt be ~ttitled to the immed!ate rassession of the oremses abcvo-descritx:d. tceethe; with a'•I rents. orcceeds and issues a;s:ne cut ^'. mr. urs.^-:ses. and may rn its discretion use the rents se. tar as rt deems necessary for the purpose of making repairs upon the premrses and for the pa .ent o insurance preriums, taxes and r, sessmenis upon s~;;h premises, and far necessary expenses incurred ;n rooting 'sale pre; arses and CofteCung .+;ni therelrcr. aatl f0 aUUly Sapie nn Said riot( and anY notes eVldenClnQ fUtafe ad VanCBS he[eUOder UUIrI d12 Indeb[edneSS SeCU(ed !S fUl1Y Qa!d: and far SUCK UUraoSCS. the undersigned does hereby sell, "ass!gii, set over and transfer unto Corr~~~ercral all of said rents, proceeds and incomes including any IanB contract payments ~fuc mortgage owners ar any other incomes of any type whatsoever from said aroperi`y tc be appllad cn die notes above-;;eserrtaeed: txt sari Commercial shall ur no case be liable for the failure to procure tenants, to collect rents, ar to prosecute actions to recover possession of said premrses. The ;Mortgagors further appoint Commercial of Omaha, Nebraska, their attorney in fact. giving said attorney power Irrevocably, either on its awe name or Mortgagors' names to take all necessary steps for proceedings +n court or otherwise. to cause said premises to be vacated, to collect rentals a other incomes due, and when vacant. to toter the same. tc mane all reasonable repairs and pay faxes out at said rants, profits, contract payments m incomes and tc do a!I such things either by Its own o[ficers or by ether parties duly authorized and appointed by It- as sts agent for said purpose, aria to charge or pay a reasrnable fee ter such services, a!I of the above to be done at such times and m such manner and an such terms as to their said attorney may seem best, wrih full puss of substitution. The Mortgagors hereby agree mat if Commercial either vofuntaniy or invalun~nly becomes or rs made a ;,arty to any surfer ptoceedurg relating to the herembefore described real estate. or to this mortgage m sold note a notes, other than a Eoreciosuro instituted by Cammeraal ~tortgagars w!Ii relmfxlrSe Colnmarclal fur aft reaSCN'tabi°e r'hSt"s iiitUirc'd try' %unimeicial iii Said SUrt'u~ pr~jCeFding- The Muiigagais ftirthei agiee thdf ~` the heie~rn[;efUre described real estate or any Uart thelecf be condemned under the power of eminent domain, or is otherwise acquired for a public „se- Lhe damages awarded, the proceens la the taking and for the cans!deraUnn tru such acquisition to the extent of the full amount of rho remaining zn;;a•:'- ,nrebted- ness secured by this mortgage, be, and the`,r hereby are. assigned to Commemlal and shall tie paid fathwr(h to Commercial to he appt!ec air a.-tailor :r the fast en+tuung m- In ~nL of such urdetitedness- Oaletl this ....--/~_-_._day af...._December_.._.__..14..79_ ,: i ~ fN THE _-.~SENCE ,~ ~ _" ~ ~ ~y ._ z~ __ . j~~rx~~~~,,~ Willzam £ Slatter iy~~~ _.r____`__._.________-.__._____~._.._.__.__ Marla L. Slatter STATE OF NEBRASKA COUNTY OF H~4LL ~,(~/' ~s On this __~IT~__ December 79 day of _-_________-___-_.__.. , t9 .-. .__ ,before me, a notary public m and for said County. personally carne the above named William £. Slatter, and Marla L. Slatter, husband and vrife. to me well known to he the identical person or persons whose name is or names are affixed to the above mortgage as granmr m grantors ono they, he or cknowletl^e~e-th-e-sar~tl~ins~trument and the execution thereof. to h_ Their veiutiarv ac( and deed. 19RtMt MI+UIP-pHf A Mehee~ t ~~ WI ' ha !h° daJ and year last above writte,.. ~ ~ /f ~Ilarlw~.6~r.llr~.20.1Mtj ~~t;/lPla!CZ~< - -- d,/ Nara! PaLl~c My canumssion expires on the_.___. ~``____ day aL~1r~T _._ ._ ip~`/ .