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~Q~ 39 EXPANDABLE M©RTGAGE ssa~2-r;
<br />ASSIGNMENT t7F REN7S Ldan Pfa
<br />KNOW ALL MEN BY THESE PRESENTS: That Francis F, Sterfes and Linda L. Steffes, hasbard and ~.:i`e.
<br />(hereinafter called the Mortgagors) in consideratior. of the sum of
<br />Thi.rt Five thousand seven hundred and ''0!100------------ ------------- Dollars (w-y=35 700.Ot}'°%c )
<br />~oaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIJ~CION of Omaha,
<br />Nebraska, (hereinafter called "Commercial"), its successors and assigns, the following described real estate, situated in tfte County of,
<br />Hall State of Nebraska, to-wit:
<br />---Lot Qre (1? Tent's Su}>division, to the City of Grand Island, }?all County, Nebraska.---
<br />TO HAVE AND TO HOLD THE SAME, enth the app~!rtenances thereunto belonging, unto Commercial. ds successors and assigns, forever.
<br />Said Mortgagors hereby covenant with said Commercial, its successors and assigns, that Mortgagors are lawfully seized of said premises, that
<br />they are free from encumbrances, and that tttey will forever ~.varrant and defend the title to said premises against the lawful claims of all persons
<br />whomsoever.
<br />Provided, nevertheless, these presents aro upon the following conditions:
<br />That whereas fhe said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing to repay said
<br />sum of money, with interest, in payments as set forth in said note and have agreed to abide hY the terms of said note and Charier and 13yCaws of
<br />Commercial.
<br />That whereas this mortgage shall secure any additional advances, with interest, which may, at the option of Commercial, 6e made by Com-
<br />mercial to the undersigned Mortgagors or their successors iii title for any purpose, at any time before the release and cancellation of this mortgage,
<br />but PROVIDED. HOWEVER, at na time shall the ageregate principal amount secured 6y this mortgaee; 6eine the amount due at ang time dnsaid-
<br />originai ride and any additional advances made; excee6 an amount equal to }ifi percent of the amount of the original note, but in no event shalt -
<br />said note exceed the maximum amount pemrtted by law, arid PROVIOEq HOWEVER, that nothing herein containeG shalt be considered as !Inviting
<br />the amount that shall be secured heretry when advanced to protect the security or in 2ccordance with covenants contained iii the mortgage.
<br />Now, rf the said Mortgagors shalt pay or cause to Ce Paid Cte said sums of money when due, as set forth in said note, and any other-nat^ for
<br />additional advances made until said debt is bPiy paid with interest. then these Presents shall be void; otherwise, to be and remain in full force and
<br />effect: but if default should be made:
<br />1a; !r, any of the payments doe on sold note, and any other note for additwaal advances n.ade, as therein agreed to be made for three months, er
<br />(b? In keeping the improvements on said premises insured against loss by reason of fire, lightning, and other hazards included in extended
<br />coverage insurance m an amount not less than the unpaid balance of said mortgage loan, in a company or wmpanies acceptable to Com•
<br />merciai, me original of such pobcy dr policies m be held by Commercial, and with a mortgage clause attached to said policy or policies,
<br />in favor of Ccmmeraai: dr
<br />Ici In the payment of taxes and assessments ievted upon said olemrses, dr on this mortgage. 6efdre they are deGrtquent; or
<br />sd! 1f Ctere is any change rn the ownership of trio real estate mortgaged herein, by sale. edher outright or by land wniract, or by assignment of
<br />any interest Ctdredn dr otherwise:
<br />then, m any of the above set-forth events. the where mdebtednoss hereby secwcb shall, at the option ni Commercial. ,mmediately become due and
<br />;,ayahie wrd;dt:t fur;tter often, and the ma:tzt doe ande. loco ,.,,,~ ann any c~her note f : ddttt advances made she-ti. Far fho ate of e exercise
<br />dt safd opncn- bear interest at 4he maxuaum legal rate per annum'~and Ctrs matgaee may coon Cs ~tmeclesed to satisfy the amount ue nn s?id note- aluJ
<br />any ether note for additional advances, tdgemer with e 15dins r„i d hY n,^ce:c~al for insurance, tales. assessments and abstract :xtensron charges,
<br />wiCt rn[arest tnereon from the date cf paymrttt at the =~a~~:mum 'ep~,a! ,ate. -
<br />`RO':f0E0 tti8[ ' „~ eYEat ~ ~£.. ,~ u. cu ,, ~, a. , ,c .,,u~rSi was „nut Su,,. „vtc m,u t, .> .,, ;a}',r.• inn, tl„E' r,. c, nurv tar $}
<br />i.bo,tst:.d teesm~de~exc-dt~,.+_x~^ .1a..-. -t--,._- -
<br />PROV!DEO, rut Lher: drat vt Lha " t . ,., de...., , a . - -t ;eta.,^.n.^,fs ... f ~ , ..a^, a..Y .. I . 3 iC~hc7cl
<br />adra..___ n - _ n bd ..,..n. ~ ;.i -„ -.s,...., as :.p„ve _ - d,.., ~. ! - r M . ~~o -< ., t:~artt o ta><s
<br />or aSSCSSmonts -ovmd>upon~ the nrcmt sex nt~~,e~t us. ~t«, ~: ,..r_ _ ~.. , nripagr. ~9fn~r t,ep~ are by law dennqucn t, Car, ,e,~ at ha r f,_~eotitleo
<br />to me lint^edrate Posse s nn of i2 vte:sise> +::o d. s; r.?-.,_ r ~~t*n: w-_ apt ants. :reedz an[ ,>_ ~+~> :,its„ _}. , ..i. ,-w.,isc,...tnd ~;ai
<br />m rts discretion use the rants so tai as !f deems n -else--~, - n- in;ipo c c- rmk,ng repairs upJn trio Ptem;;es a d trr tl~e pavment of m5urance
<br />prcnnmms. !axes and assessments upon such ptem~scs. and !cu ae~eSSaty expenses Incurred rn renting S3ard Piemt~s ar;d couoctmg root therefturn, and
<br />to apply same on said note and any notes evr d:'nnng h,ture advances hereunder unbt trio utdebtoddess seemed ,s fu;ly paid: ono ter such puruoses,
<br />the undersigned does hereby sell, assign, set crer and hanspar ante Gn.-tmeraaf all ul sa,d rents, Ptacceds and inrnmos mcludutg any land conhact
<br />paymonts dire rnortgago owners or any other rocsmas of any P,•Rµ atalscevet fn,m sa,d p: oPerty te- be applied on the notes atuve~descnbed; but sand
<br />Ge,'anrettiai shall rr, nn case t~ I+able for the tai tub to ti,r;c+re fen;,nFS to cnileei rents, c~r td p!ascuufe actions to recover possession of said Pieria sox.
<br />The Mortgagors further appoint Commercta7 of pnlaha, Nebraska, thou attnmey to fact, g,ving said atlpmey ,u;wo: urerxabiy. either ar, ,ts own
<br />Game at Mnltgager5' names td take ail nece55ary 51ep5 for pfeceedings ,n court G( Otttetwr Se. [e cause said premises to he yacffied, fo co!k';f to^(d is
<br />- or outer incdme3 due, and when vacant, to telt?t ~.he lam@. tC+ ~`~ake aft reaSOnab18 repatrg and C>ay taxes out of Satd rents, ptoli t"=. contract payments rYr
<br />incomes and to do aU such IhmgS er the[ by its own nUicors o! ky etnor pathos duty ,au ttmn>_ed and aPPainted try +t, as its agent Ic~r lard Ghnpose. arrd
<br />to charge dr peg a teasonabie foe for such serv±cos_ 7±! of 6hu ahevr to re done at loth nrttes i-td .n s_rn _auter end , t __ i_ L+±~ . - r . rna,;r sup
<br />attorney may seen best, with hill power cf subsbtubon.
<br />The Mmt~gors hereby agree Vtat rt Cottunmca! either voluntaaiy or mvomulaniy becomes or is made atarh~ id ariv swt cn proceening,ciat,n,t
<br />to the heretnhe?oFe desotitatii teat estate, it to tots -,.at{~r~.. _ ,a,d -,,.>< „r :o.es otht' than a forec.as~+e isstttutrv ~t G, ,,,:e•ua. ; «xat;in5 a.
<br />_ reiMhnsB Cv'mmk'-rCtal Ior 1H rGxs@naG4o costs" rnenrie;9 tr+ Gih'ir.~e -,9 : >a,d 3uH 6r prpcee .ny- ,hC- hfpr ~1j rs fut!t;~ ,7:-- ;tint r P~ x!Pi~, ucrarr•
<br />doscrrbed tEaf estate or anY pact thereof 6e corWen!ner? uru:c~r the power of rnment domain, ar ss otierw,se acyvued Inr a i;ebt,c cso ;rm di ~:a,ees
<br />awarded, the proceeds for the taking, and f9t dse constderabon for suC;t acourstbovr to the extCnt of the full an+tsunt rl the !enainrng unualu ,i,de.hteo-
<br />ness secured 7a this mortga({a, ba, and [hey hetah} ate, assigned to Conunarerai and shaft 1>F oatd IcrGrwith to Cammercta! rc= he applied en sccci;nr =.~f
<br />the lastmatuong rns~ttntenis of loch rndrhiedness.
<br />Dad tltts -._r_tiT__. .._. gay Jf ~; ~>'t' - r + ~ ._ ! _
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<br />1 ijjE SENGE O~ .,,~ _ ' _ -.:s. _ -._ '_~`xr
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<br />STRTE OF NEBRASKA
<br />COUNTY (iF •riAL}.. ss,
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