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A551GNfAEMT taF RENT'S _oar: ';c. _.._5a~a~_'~_..-----
<br />KNOyti! ALL MEN Sy THE5E PRE5ENT5: That Faur-i7a-Development, a pau•~taershig
<br />(hereinafter called the Mortgagors) irf eens~deration mf the sum of
<br />Sintyy 'Three Thotasand dollars and lgodlf?0_________________,._---_-- Doi4ars (9~~63 000.1D0~~ t
<br />loaned to Mortgagors, do herebyy grant, bargain, self and convey unto COM~AERCIAL FEDERAL SAVINGS AND LOAN ASSOCIdTION of Omaha.
<br />Nebraska, (hereinafter called "Commercial"), tts successors and assigns, the following described real estate, situated it the County cf,
<br />HALL State of Nebraska, to-wit:
<br />---Lot Seven (7) in Block Hinety Six (96) Original Town, now City of Graad Island
<br />Hail County, 2iebraska.---
<br />TO NAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging. unto Commeraa+, its successors and assigns, forever.
<br />Said ftcrtgagors hereby covenant with said Commercial, its successors and cssigns, that h4ortgagers are lawfully seized of sa~tl premises, that
<br />they are free from encumbrances. and that they will forever warrant and defend the title to said premises against the Izwful claims of ail persons
<br />vrhomsoever,
<br />Provided. nevertheless, these presents are upon the rollowing conditions:
<br />Thai whereas the said tdortgagors as members of Commercial have this date executed a note evidencing sue.`; loan and agreeing to repay sa+d
<br />sun'. 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 By-Laws of
<br />Commercial.
<br />That whereas fh;s mortgage shall secure any additional advances, with interest, which may, at the option of Commercial, be made by Cem-
<br />mercizi to the undersigned Mortgagors or their successors in title for any purpose, at any bme before the re{ease and canceNation of this mortgage,
<br />but PROVIDED. HOWEVER, at no time shall the aggregate principal amount secured 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 I10 percent of the amount of the original note, but en no event shall
<br />said note exceed the maximum amount permitted by law, and PROVIDED. HDV9EVER, that nothing herein contained shalt be considered as limiting
<br />the amount that shall be secured hereby when advanced to protect the security or in accordance with Covenants contained in the mortgage.
<br />Now, if the said A4ortgagors shall pay or cause to be paid the said sums of money when due, as set forth in said note, and any other not' far
<br />additional advances made until said debt is fully paid with interest. then these presents shall be void: othernise, to be and remain m full fnr~e and
<br />effect; but if default should be made:
<br />+,ai 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 />itrj in keeping the irnprovements an said premises insured against ions by reason 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 er companies acceptatrte 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 Commercial; or
<br />(c) In the payment of taxes and assessments levied upon said premises, or on this mortgage, before they are delinquent: or
<br />(d? If there is any change in the ownership of the real estate mortgaged herein, by sale, either outright or by land contract. or try assignment of
<br />any interest thereon or otherwise; -
<br />Hten, in 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 Cho date of the exercise
<br />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
<br />any other note for additional advances, together with alt sums paid by Commercial for insurance, taxes, assessments and abstract extension charges.
<br />with interest thereon from the date of payment ai the maximum legal rate.
<br />PROVIDED that in no event, either before or after default, shall the interest due under said note and this mortgage and any other note Eor ad-
<br />ditional advances made exceed [he maximum lawful interest rate.
<br />PROVIDED, further. that in the event that default occurs in the making df the payments due on said note, and orr any other note for additi~at
<br />advances. as therein agreed to be made, er in keeping the oremisas insured, as above provided. a ~f detau[t tz' mode is Lhe payment of Lhe thxes
<br />er assessments levied upon the premises above described or upon this mortgage, before they are by law delinquent. Gommercia! ,f~a!! t;° enfrt(ed
<br />to the immediate possession of the premises abdve-described, together with aH rents, proceeds and issues arisrng out of Ne premises. and may
<br />in ~ di>~rcfivn u - ..a rents sd far as it deems necessary for the purpose of ~T~ak~ng repairs tipan the pie vises and for fine payment of insurance
<br />prarium~s, taxes and assessments upon such premises, and fur necessary ezperses +ncurred in renting said preises and cotiedting rent therefra~, and
<br />io zpely same un said ndte and any notes evrdenang future advances hereunde€ u..^.bt fire :rdebtedness secured rs fully pa;d: and f; such prrrp^ssos,
<br />, J"d@rs~rned dd=5 h@reby' S°I.. ~5f'N' S@t doer and tiansfe: a dmmerLtat ". "f ""aid re, taceed~ an int_"ne5 in~t~~i:., ~~e
<br />s ~. -, p d rr~.eFg any tar!d ~cR,tr`--
<br />payments due mortgage nsvners or any other incomes of any type whatsoever fromasaid proper!y~to tae applied on the notes abdve described; but said
<br />Commercial shat{ i.. no case be viable for the failure to procure tenants, to collect rerrts, or to prosedule acbdns to recover possession of said premises.
<br />The Mortgagors further appoint Commercial of Omaha, Nebraska, their attorney m fact, giving said attorney power irrevocably, either do its awn
<br />name or Mortgagors' names to take all necessary steps for proceedings m court or athermse, to cause card premises to tre vacated, to collect rentals
<br />ar other incomes due, and when vacant, to re(ei the same, to make aII reasonable repairs and pay taxes out of said rents, profits, contract payments or
<br />incomes and to do all such things either by its own officers or try other parties duty authnrized and appointed by it, as its agent for said purpose, acd
<br />to charge er pay a reasonable fee for such services, all of the above to be done at such times and in such manner and on such terms as to their said
<br />attorney may seem best, with full power of substitution.
<br />The Mortgagors hereby agree that if Commercial ether vo!untanty a mvelunbtnly becomes or is made a party to any smt or proceeding rotating
<br />to the hereinbefore descntaxd real estate, m to this mortgage ar said note or notes, other than a faecldsure instituted tr'1 Commercial, Mortgagors will
<br />reimfturse Car;mercial for aIi reasonable costs incurred by Commeraal in said suitor proceeding. The Mortgagors further agree that ~f the hereinbeiere
<br />described seal estate or any part thereof be condemned under the power of eminent domain, ar is olherwist acquired for a public use, the damages
<br />awarde4 the proceeds for the taking, and for the consideratiar for such acquisdron to the extent of the full amount at the remaining unpaid indebted
<br />Hess secured try this mertgaRe. rte, and they hereby are, assigned td Commercial and shall be paid forthwiBi to Commercial to he applied do account of
<br />the last matwing instalments et such indebtedness.
<br />Datetlthis .____c:'~' ._---..tlayot~ December ~~, 1979 .
<br />IN THE PRESENCE Of-,t yc, 1
<br />r ~ff4a°'
<br />f~ _.
<br />STATE OF NEBRASKA
<br />Fotu`-Ha-Development
<br />~ % -
<br />(!t-'- nrrs H. ESS1nA~-~, Fyart
<br />n
<br />' r
<br />COUNTY OF ss.
<br />-Dui R. Helmink, a partner
<br />' ~`'~ Dzcember T9
<br />On this ... ~-._.`__.___ day of _~_T~_-_ , 19 .~_ ,before me, a notary public in and for said County, personally came
<br />the above named Lawrence N. Essink, a a
<br />Develc~pkatent, a ~,artaershi~a p rtner and Duane R. Helmink, a partner of Faur-Wa
<br />to me wet nown to be th iden real petso or persons whose name is or names are affixed to the above mortgage as grantor or grantors and they, he
<br />er she, severally acknowledge the said instrument and the execution thereof, to be their voluntary act and deed. and the voluntary act
<br />s of Four 4ia-Deveiop~seat, a partnership.. , `i >,f~
<br />wlri Sea( this day and year last above ;vritien. _~ ~_;-' tf ~u+
<br />f IlUtarV F'UbIIC
<br />My ccnunission expires on the _;'~~' f day of ~ ~°~,,, ` ~ __. ___ _ 19 .t_-_ . M Sp
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