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80~ ~~~~ EXPANDABLE MORTGAGE ASSIGNMENT t)f P.ENTS Loan Na. 53451-6 KNOW ALL MEN BY THESE PRESENTS: That Troy L. NeReill and. Betty J. HeNeill, husband and- wife. {herernafter called the Mortgagors) in consideration of the Brim of Sixty three thousand two hundred and NofIOO_________________________.DollarslE~e&3 20tl.Att**),- ioaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVfNGS ANO-LOAN ASSOCfA~fON bf Omaha;' Nebraska, (hereinafter called "Commercial"}, its successors and assigns; the following described real-estate, situated fir tti€ County of; HALL Sfate of Nebraska, to-wit: ---All of Lot Seven (?) and the Easterly Fifty Feet (E50') of Lot Six (6), all in 3lock Eighteen (13) in Kernahan and Decker's Addition to the City of Grand- Island,.i•Iall County Nebraska.--- TO NAVE AND TO HOLD THE SAME, with the appurtenances thereunto belonging, unto Commercial, its successors and assigns; forever: Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfully seized of said premises; that they are free from encumbrances, and that they wi II forever warrant and defend the title to said premises against the lawful claims of all fersons 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 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 Chartef'and Bylaws of Commercial. That whereas this mortgage shall secure any additional advances, with interest, which may, at the option of Commercial, be made 6y Com- mercial to the undersigned Mortgagors or their successors in rifle for any purpose, at any time before the release and cancellabon of this mortgage. but PROVIDED. HOWEVER. at no time shall the aggregate principal amount secured by this mortgage, being the amount due at any time on said original note and any additional advances made, exceed an amount equal to 110 percent of the amount of the original note, but in no event shad said note exceed the maximum amount permitted try law, and PROVIDED, HOWEVER, that nothing herein contained shall be considered as limiting the amomrt that shall he secured hereby when advanced to protect the security a in accordance with covenants contained ih the mortgage. Now, if the said Mortgagors shall pay or cause to he paid the said sums of money when due. as set forth in said note, and any other note for additional advances made unfit said deht is fully paid with interest, then these presents shall t>e void: ofherxise, to be and remain in full force and effect; Iwt if default should be made: - (aj 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 ibl to keeping the improvements an said premises insured agamsi loss 6y reason of fire, lightning, and other hazards included in ex [ended average insurance in an amount nut less than the unpaid balance of said mortgage loan, in a company ar companies acceptable to 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. in favor of Commercial: or (c1 In the payment of taxes and assessments levied upon said premises, or on this mortgage, before they ate delinquent or idi if there is airy change in the ownership of the real estate mortgaged herein, by sale, either outright or by land contract. or by assignment of any interest thereon or otherwise; then, m any of the shove set-forth events, the whole indebtedness hereby secured shall, at the option of Commercial, immediately become due and payable wimaul further notice, and the amount due under said note and any other noteror atldihonal 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 io satisfy the amount due an said rote, and any ether note for additional-advances, together with all sums paid 6y Commercial for ,nsurance, taxes, assessments and abstrart extension charges. with interest thereon from the date of payment at the maximum !ego! rate. PROVIDED That in no event, either before or after default. shall the interest due under said note and thrsmortgage and any other note far ad- ditional adwnces made exceed the maximum lawful interest rate. PROVIDED, further, that in the event that default occurs ;n Iho ;nakang at the payftieris due an said irete, and on any other note [or addrtiur!al advances, as therei^ agreed to 6e made. er in keeping me premises insures, as above ~,tavided: er if default h2 made in the avrient or the axe=. or assessments levied upon the premises above described nr upon ih;s ;nr_:;tgage, t~fot2 they are tiY law de!mquenf, Comm^rcat shelf be entitled - to th€ ;mated,ate ,xssessian cf Lhe premises a;NV~-descri;red, loge he ~.vrth all torts, prcceeds and :sues arising u- of the iron, s~s, and ray in its discretion use the rents so tar as it deems necessary for the f»rrpase pt making tepatrs upon the premises and for the payi~rertt pf insura~cc -- - _ - - premiums, texas and assessments upon such premises, and for necessary expenses ;ncutred ;n renting said premises and co112chng rent therefrais. and to apply same on said note and any notes evidencing future advances hereunoer until the mdebiedness secured is fully pard: and for such purposes, the undervgned does hereby sell, assign, set over and transfer unto Commercial all of said rents, proceeds and incomes including any land canbact payments due mortgage owners or any other incomes of any type whatsoever from said property to be applied an the notes above-descnhed: but said Commercialshailin no case ce liable for the failure to procure tenants, to cailect rents, or to prosecute actions to recover possessicn of said prenuses. The Mortgagors further appoint Commercial of Omaha, Nebraska, their attorney m fact. giving said attorney power urevocahly, either an its own name or Mortgagors' names to take all necessary steps for proceedings m aura or otherwise, fo cause said premises to he vacated, to coHact rep tats a other incomes due, and when vacant, to rotor the same, to eiake al! reasenabte reRmu and pay taxes out of said rents, pmhts, contract payments' cr incomes and to do a!I such things either by its awn officers ~ai by other parties duly authorized and appointed by it. as ifs agent for said purpose. anu to charge m pay a reasonable fee for such services, all of the above to be none a! such limes and m such manner and an such terms as to ineu surd attorney inay seam best. with full power of subshtulion. The tdoAgagors herehy agree That if Commereaal either uoiuetanty at ~nvoluntanty hecomes or is made a poly to any sul! or proceeding refacing to the herelnba(ore descnbed real estate, or to this mortgage ai said note a notes, other than ;; toredaswe lnsbtu tetl Uy Caunnercial. ldaitgagnis will reimhurse Couuueraial for all reasonable costs incurred by Connnercial in said suit ar proeeetlmg The Mortgagors further agree that i( the harembefore - described feat estate or any part ihereaf ho r.outlemned uraei the powe! N .•rmnen± domain, pr is aiherwise acquued tin a public use, the ~tamages awarded, theprocaeds for the faking, and for the consideration foi seGh acgasrbrn to the extent of the full anmunl ai the reniainmg unpaid indebted- ness secured.try this mortgage, ba, and they hereby are, assigned !o iamnieraal and shall be paid forthwith to Cammetcial ro be applied an acaunt of the last maturing ins>taipgenis of such mtlebtedness. Qaletl This__...,~ __._..-_._-.day of ....._ t~aX_......... ;u 80 -, .... ~ ` - , , ~~ 7,~ ~ IN TH~~NCE OF' . 3 4~ . -_ ~ - / ~ ~ y ~ ~-t"4-`" y -- J ~:- ire !,citeild ,~ _ , ~ ~ ------------------._._._------- _ ~iertty ,J: McNei]1 STATE OF NEBRASKA ss. -- ---._ . _._--.-_ ..__ _ .- CONNTV OF HALL~o On this / ._._ __. .___ day of ~`ay.. _ _ - i9 80 before uie. a notary ixibhc m and for sn a CpuuN. ie+sanaiiy camu thaabove-named Troy t„ McNeill and 3etty rl McNeill, hual-:and and wi.f=e. to me well known to he the Itleitical person m persons whose name a or mines the above mortgage as grantor vi giauhlrs dnd Ihey. `;u or she severally acknowledge the sofa instrument and he a •-~ ~~ ry net and.deed WITNESS my hand and Noariai Seai Ilia day and year i .~~• ~ ~a I ~, r. . .- ~- Mv corimisson =.ixpees on nc~ '.- .... __. _ day it = ~ 1 r` ° ,a = _ . '.t-'e;