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<br />EXPANDABLE MORTGAGE
<br />ASSIGNMENT OF RENTS Laan No. [ 340k-5
<br />KNOW ALL MEN BY THESE PRESENTS: That Kirk G, Arnold and Ma~nri~lt~a ~llg~Arnold, ?iusband and wife,
<br />Fifteen thousand seven hundred and fifty dollars {and Nor/10t5-~e Mortgagors} in conskleraHon of the-sum oti
<br />Dogars{9kit15 750.i?0~ )
<br />loaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCfAI EEDfRAt_ SAVINGS AND LOAN ASSOGfA'YION of Omaha,
<br />Netxaska, (hereinafter called "CommerciaP'), its successors and assigns, the foROwing described real estate, sduated in the Couhty of;
<br />HALL, State of Nebraska, to•writ:
<br />--Lot Fifty-Five (55} in Hawthorne Place, being a subdivision of part of the Northwest
<br />Quarter (NR iir+) of Section Twenty-Two i2"<), Township Eleven (I1), North, Rangy Nine (9)
<br />Best of the €ttr P,A'., in the City of Grand Fsland, Hall County, Nebraska.---
<br />70 HAVE AND TO HOLD THE SAME, with the appurtenances thereunto 6etonging, unto Commercial, its successors and assigns, forever,
<br />Said Mortgagors heretry covenant with said Commercial, its successors and assi0is, that Mortgagors are lawfuity seized of said premises, dtat
<br />they are /rye tram encumbrances, and that racy ,vii! forever warrant and defend the title to said premises against the lawful claims of aN persars
<br />vdransoever.
<br />Prowled, nevermeless, these presents are upon the following conditions:
<br />That wberaas the said Mortgagors as members of Commercial have rats date executed a note evidencing such loan and agreeing to repay said
<br />sum of money, with interest, in payments as set forth ~n said- note and have agreed to abide try the terms of said note and Charter and Bylaws of
<br />Commercial.
<br />That whoreas ;his mortgage shall secure any atldr6nnal advances, with interest, which may, at the option of Commercial, be made by Com-
<br />meruai mthe undersigned Mortgagors or 4heir successors in Ytle for any purpose, at any lima before the release and cancellation of this mortgage,
<br />art PROVIDED. HCWEVER, 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 ll0 percent of the amount of the original pate, but in no evert shall
<br />Bard hale exceed me maximum amount permitted ty taw, and PROVIDED. HOWEVER, that Homing herein contained shall be consitleredas limiting
<br />the anount drat shad rx secured hereby when advanced to protect the security or in accordance with covenants contained in Cie mortgage.
<br />Now, a the said Mortgagors shall pay or cause to be paid die said sums of money when due. as set form rn said note, and any Diner note for
<br />addihonai advances made unUi said 4ebt is Fatly paid with interest, then these presents shall be void: omerxise. to be and remain m full force and
<br />effect: d,t if le(an)t should be made:
<br />fa; In any of the payments due cn said note. and any other note for addihcnal advances made. as therein agreed to be made far three months, or
<br />ibi in keeping the improvements nn said premises insure) against ions by reason Uf tire, lightning, and other hazards included m extended
<br />coverage insurance m ar. amount not less man the unpaid balance df said mortgage loan. in a company er companies acceptable to Com-
<br />mernal. me original of such ool~cy a policies to be held by Commercial. and ;vith a mortgage clause attached to card policy ar policies,
<br />in favor of Commercial; or
<br />!e. In the oayment of taxes and assessments levied upon said premises, dr en this !ncrtgage. before they ere deimqu_nC a
<br />~dt If mere a any change in the ownership of me real estate mortgaged herein. Gy sale. ei(her outright w W load contract. or by assignment df
<br />any interest mereen or cmerw, sc;
<br />men, in any df the above se4form events. the wnole urUebieUness hereby secured shall, at the option of Commercial, ~mmedrately become lue and
<br />payaGle wrmout further notice. and the amount due under said Here and any other note for adds banal advances made shat!. limn the Date of the exera se
<br />of said option, bear interest at the maximum legal rate Ger annu„i. and ;his mortgage inay men ce !orecldsed to satisfy me aewuni aue en said note. and
<br />any Omer note for atldihonat advances, tUgemer mih ai; sums paiU by Ccm;neraal for insurance- taxes, assessments a;ie orb+Lrart extension c?turges.
<br />win interest merean iron me date of payment aY L'ie maumwa agal rate.
<br />PROVIDED mat rn no event. eimer heinre rafter Delon t, snail '.he +r,ieresi due under said note and rats mortgage and any otner note tar ad
<br />rational advances made exceed me ~raumwm ~awiu~ interest ,ate
<br />PROVIDED 'urmdr. nut *n,: a er n era -s . i B r t 'he uny~enfa iue on st u r t anU cn i y e' r adadior~ai
<br />advances, as Iherei^. aer ed t_ !~ . )d n ..ee• g ,e :e ns,rtJ as abc vo ?rout Ued cr i. .,etaa-! hxs :caJC .n ,he ,;<. •k~ ?. me taxes
<br />di aSSeSsi iGr.,. 'CrrG .et.., 7e p;t :,ea ...X.-.~ F,,. uEd ,r, ' ~~' h ; ~.:,,.ir gage, 'RIGie ihrv die cry i3w deunqueni LOmrneri'a, Sn3~! Lw cell tide
<br />to me Immediate p05S2S5i C11 Cf mC iitemi5e5 aCU ore aes[h ~(I. 'rJRethe'~ with Jii ierll5. C40CBEdS and p5ue5 atrs,.ig rat Ct the i_~eS. and ,nay
<br />.n -tS ;.riC.e.it,~ i.'>e tFr:.ens sit sa .3 :{ Vie,'-.. _ei.es,a'-, ~ -nf irvrva _' rakrirg 73Ga,is uVun the ytemises and for fhP pay~icnl ~! nisman[e
<br />pu~lU7nss. !axes acid assessaroa[s upon wc. „era-,e nr,,, ,_r.::- asa;v ~*"vin 7e~ incurred m :enLng said premises and cdriecong rent tnareirdR:. ctrl
<br />to apply same on said note and any notes evioeriung future advances nereuuder unni the mdebledness secwed ;s rally paid. anU for such purposes,
<br />me unlersi bean does hereby sell, assigli, set over and bansre: unto Cor:m:e: c;a~ a!I of said rcrrts, proceeds and ricdmes including arty land Contract
<br />tayments due nrortgage owners or any other incomes ui any type wnatsvevei !rom said property to be applreU on me Hates above-destnbe4 birt sail
<br />Cordmerual shall m nc case be liable far the faifine to pmtuie tenants 0.r uU4ect rents. or to prosecute actions to recover uussesson of said premises
<br />The Mortgagors further a{.pumt Connrercial of Omaha. Nebq„'sea. Ineu attorney m fact, giving said attorney !:rower urevncabiy. either rat as own
<br />Hama o± Motgagors' names to take a.+ necessary steps for ,ru-amngs ui zdun cr ome:wrse, to cause said prennses to be vacated to collect rentals
<br />or other moraines due. and when vacant to rerei me same to mace ai. reasonably repairs and pay ;axes out of said rents, prop ls, canuact payments or
<br />incomes and to is alt Such fh!ngs eime~ 6y its awo -,fLCeis ,i by atu2r parties duly auihcnted and appointed 6y it, as As agent for said purpose, anU
<br />to charge of pay a reasonable tee for such services ail of the above t:. Ge done at such times and m s~eh manner and on such Icons as to their ,aiJ
<br />attorney may seem best, win fuH power of suhsbb~udri.
<br />fh0 AWrtgagois hemp agree mat .t Con ~kerc,a the vo,u r r ~ .o-n-linty cec nes -. , :r;ade a pa~ly to 'ni} ui a° pa i-„eel ag re.anaig
<br />to the herembelore descubel real estate ar to )tilt iarlgage .: o ~,r ,,. ~- tes .noel than , ,dice sure inshtu fed by dui aneieiai 'dortgaguis wilt
<br />reimburse Canmereial for all reasonable costs nui~cec by lei,",:,r:r ,r ri sa~!r swt of ~xeedurg The ldartgagors turner dgiee that .r the heieaibaturc
<br />Described coal esiato or any parr thereof tie r.anUennPa a:de. ii we~ ~' i -mat Unira i =_ .c atherw seacqu,rer t -. tvG6c x _ t ~~n;ages
<br />awamed, ma proceeds Ini the taking- and for the _ir side ahuu ~. ,:n acq„~s r w to ne extent e' me t,i a:.uu-r1.ai the .ri..aimng i t aid n debbed
<br />Hess seta; ed bi rail mortgagor, rte, and they i.aroby xc z dm.,: ~-n seic.a. anu shah iue Void h,rmwi b`i to Cd~ervi a~. to he d;iplitU eu account o,
<br />the last maturing wstallments cf sucn indebteUness
<br />DateDmis_- lnt_-_ __oayn[ ^tay r :~f. ,~~
<br />f.
<br />IN~C~~~ T'. _ ' 4
<br />4 r r•_ Rrnxal r
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<br />STATP, OF NLBRASKA ?!ar;ila Ar~rre.-1
<br />COUNTY JF ss _ _ _ ,
<br />i}rr des It>: Vet
<br />Jay' ~t
<br />rA[' abOYP.~naTad .
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