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8O- 0~4~1$ EXPANDABLE 11+tORTGACTE ASSIGNMENT OF RENTS t.aan Na_ 8227fx9-2 KNDW ALL MEN BY TNESE PRESENTS: Fhat Steven L. Fredrick and Janelle A. Fredrick husba:ad aad xife. (trereinafter daNed the tAorlgagors) in cnnsideratmn of f~ asrst nt Forty nine thousand nine hundred and Ha/1GG- DbRars(E 4J SOt3.DD+~ 1 I~ned to Mortgagors, do hereby grant, bargain, self arrd com2y until CDMitERC1Al FEDERAL SAVINGS AND CDAN ASSDCf~ritON af't)niafta, Nebraska, (hereinafter rolled "Commercral"}, its succeswrs and assigns, the foflowiag dessrfied real estate, siEiraterl- irr fide fA ~; Hall State of Nebraska, to-viii: ---l.ot Fourteen (24) R.EB Subdivision, Hall County, Nebraska.- TO HAVE AND TO HOLD THE SAME. wrth the appurtenances thereunto belonging, rnio Commercial, its suecessotsand-assigns, far¢v¢r. Said Motgagors hereby covenant wrth said Commercial, its successors and assigns, that Mortgagors are lawfullu seized of safdpremises, That they are free from encumbrances: and that they will focever wa«ani and defend tfre title to said premises against the lawful claims of altpersons-- whomscever. - Pmuided, nevertheless, these presents are upan Ne Following conditions: That whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing td repay said sum of money, wish interest, in payments as set forth in said "note and have agreed to abide b}` the terms of said note and Charier and 8yLaws of Commercial. _ That whereas this mortgage shalt secure any additi one! advances, with interest, which may, at the option of Commercial, de made-try Cam- menial to the undersigned Mortgagors or their successors in title for any purpose, at any time 6efare the release and cancellation of this mortgage, iwi PROVIDED. HOWEVER, zt no time shall [he aggregate principal amount secured by this mortgage, being the amount due at any lime on said original note and any addi~iona; advances made, exceed an amount equal to IID percent of the amount of ;he origifal note, but itt na event shalt said note exceed the maximum amour,! permittee by law. and PROVIDED. HOWEVER. that nothing herein contained-shaft be considered as limiting the amount that shall be secured hereby when advanced to protect the security or in accordance with covenants contained in the mortgage. Now, if the said Mortgagors Shall pay fir cause to be paid the sard sums of money when due, as set forth in said note, and any otlner note for additional advances made until said debt !s !ally pard wrth rnterest, !hen these oresents shall 6e void; atherxise, to be and remain in full force and effect; but rt default should be made: :a! In any of the payments due en card note. and any pdrer hate for adddional advances made, as therein agreed to be made for three manths, a rbi In keeping the improvements do said Premises insured against lass by reason df fire, lightning, and ether hasards included in extended coverage insurance in an amount not !¢ss than th¢ unpaid balance df Said mortgage loan, in a company or companies acceptable to Com~ menial, the original of such policy or pahaes to be held try Commercial, and with a mortgage clause attached to said policy or policies, m favor of Commercial or !c! In the payment of taxes and assessments ~evrud upan said premrses, or on this mortgage. 6erore they are delinquenC fir fd! If there is any change m the rwnershrp of fire real estate mortgaged herein. by sale, either outright fir by land contract, or by assignment of any interost thereon or otherwis?: - ihen, in env of the above set-forth events. the whine maebtedness hereby secured shall, at the option of Commercial, immediately become cue and payable wdhout further notice, and the amount Gue wider said note ar,d any other ante for addrt,onal advances made shall, tram the date of the exercise of sard option, dear interest 2t the max~mu^. legal rate per annum. ono the mortgage may Nen be foreclosed to satisfy the amount due on said note. and any other note for additional advances, together with ail stuns paid by Comme¢;al for insurance, taxes. assessments and abstract extension charges, with rnterest thereon Irani hl¢ date of rzymrni at the '~3xiewm legal rate. PROVIDED that in no event ether t>Etere -;:~ Ater eeiawt snail the :merest due render said no!e and tins mortgage and env other note tnr ad~ ditionat advances made exceed the maxnnpm iav; ful interest rate. PROVIDED, further, fat m the ev¢dt that ~e.=,utt c s i:r the ;raking df t^e 8aymmt5 ;;ne un Bald sate, and .~r any other afire to addnc~sai advances, as therein agreed td he mad? keepmg~the orem!ses re<_ur¢d, as above orovid¢d, or .f Gefavlt be maG¢ ~n the paymddt o! the taxes or assessments levied upon the ,:rem; ses above nescrded err rrpdn This rnm [gage. Ge(me They are by raw dehnquenr Commercral shalt b2 en6U¢d to the immediate possession of the premises above-described. together wrth all rents, proceeds and issues easing out of the prennses, sod may in its disrreban use the rents so tin as rl tl¢ams ueressary for the purpos¢ of making repairs upon the premrses anti to the payineN of irsurancd prenuams, lazes and assessments upon sack premrses. and for necessary expenses incurred in renirng said premises and ccllecbng rent fhereirem. and to apply same on Sard note and any notes evrder.cing future advances h¢reuntler until the indebtedness secured is iul!y pard: and ter such purposes. the unders~gneC does hereby set!. ass!gn, set over and ±ranster unto Commercal all dl said reu ts, proceeds and incomes including any land contract payments due mortgage owners fir any other incomes of any type whatsoever from Sard property fo be applied nn the notes above-descn hetl: but said Commercial shall in no case be liable for the torture to Drocure tenants. to ddHect rents, or to prosecute actions to r=cover possession of said premises, The Morgagors imther appoint Comineraai of Omaha, Nebraska, iher attorney m fact, giving said attorney power rtrevecabiv, ether on its own name or Mortgagors' names to take ail necessary Steps (or proceedings In court or otherwise, to cause card premrses to he vacated, to cosec; ren tars ar other inwmes due, and when vacant, tp role! the same, to make all reasonable repa«s and pay taxes out fit said rents, prop ts, conuact Cayinen is or incomes and to do all such things either by its own dfbcers pr 6y oCrer parties duly authonzetl and appmntetl by rt- as its agent Idr sard purpose, ana to charge or pay a reasonable tee for such services. ah of the above to 6e done 3t such times and m such manner and on such terms as to thou said attorney may seem best, with full power nt subsh lotion. The Mortgagors hereby agree That rf Commercial either voluntarily or mvalun tanly becomes or :s made a party m any sw1 sr proceedng relating to the hereinbetore described real estate- or tp this mortgage or said note or notes, other than a forecioswe ins6 toted by Commercral. ":longagors z,ili reimburse Commercial ter all reasonable costs incurred by Commercal m sard sinl or proceeding. The Mortgagors further agree that a the mie,nbelore described real estate or any part thereof be condwnned under the power of eminent domain, or is otherwise acgm red for a pubirc use. the tla~nages awarded, the proceeds for the taking, and for the consderahon for such acquisition to the extent of the full amount of the remaining unpaiG indebte0~ ness secured bl' this mortgage, be, and they hereby are, assigned Io Commercral and shall be paid forthwith to Commeioai to 6e applied mr aaoum c' the last maturing mstANm¢nts of such mdebtednes5 Dated dris_ t~ day df _ .------August.----- t9 _8G ~_____ ~ 1~~~_ f - Steven L,~Fredrick ___._ /,. -- _ _" _ -""- Janelle A. Fredrick STATE OFNEBRASKA COUNTY OF HALLr/ ss On this .....~ ___ - .. -. -. day of August ;9 - -8r) before roe, a notar the above~narded y pubirc in ana for said l:ounly. pe6n:~: ~v cane Steven L, F'redr;.ck and Janelle A. Fredrick husband and wife. to me wet l'known la be the itlenbcal person fir cersoos whose name is er names are aihxed to Ne aWve nwrtgag2 as grantor ni grantors :roc a:€y. r•e or she, severally acknowledge the sard nrsimment and the af, fa be th¢u veluniary act aril deed. n frta` .~ WITNES$ my hand and Notarial 1 t - a ~ ,p~ ~ . ~ f 1 i : P 7 ... day u(- ~~. ,,a, ~ ~. My commission ex ues do the-.. t ',:'-~"~..._ - :? ; -~~.