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8O°~~4698 EXPANDABLE MORTGAGE sally-s
<br />ASSIGNMENT OP RENTS Loan Mo.
<br />KNOW ALL MEN RY THESE PRESENTS: That David W. Rouzee and Frances 0. Rouzee husband and wife.
<br />(hereinafter called the Mortgagors) in consideration of the sum of
<br />Twenty. Nine thousand five hundred and fifty dollars and No/100------0ollars(b29 550 00 )
<br />loaned to Mortgagors, do hereby grant, bargain, sell and convey unto COMMERCIAL FEDERAL SAVINGS AND LDAN ASSOZ`IATIOF! of Omaha,
<br />Nebraska, (hereinafter called "Commercial"), its successors and assigns, the following described real estate, situated in the County of,
<br />hall State of Nebraska, to-wit:
<br />---Lot Four (4) Calvary Subdivision, City of Grand Island, Nall County, Nebraska.---
<br />TO HAVE AND TO HOLD THE SAh1E, with the appurtenances thereunto belonging, unto Commercial, its successors ono assigns, forever.
<br />Said hlortga gors 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 they will forever warrant ono defend the title fo sold premises against the lawful claims of alt persons
<br />whomsoever.
<br />Provided, nevertheless, these presents are upon the following conditions:
<br />' That whereas the said Mortgagors as members of Commercial have this date executed a note evidencing such loan and agreeing to repay said
<br />sum o. money, with interest, in paynienis as set forth in said note and have agreed to abide by the terms of said note and Charter and DS'-Laws of
<br />Commercial.
<br />That whereas this mortgage shall secure any addihopal advances, with interest, which may, at the option of Commercial, 6e made by Com-
<br />mercial to the undersigned Mortgagors or their successors in title for any purpose, at any time before ttie release and cancellation of this mortgage,
<br />lint 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 in no event shall
<br />said note exceed the maximum amount permitted by law, and PROVIDED, HOWEVER, that nothing herein contained shall be considered as limiting
<br />the amount chat shat! be secured herehy when advanced to protect the security or in accordance with covenants contained in the mortgage.
<br />Now, if the said fdortgagors shall pay or cause !o be paid the said sums of money when due. as set Forth in Bald note, and any other note for
<br />additional advances made anti! said debt is fully paid with interest, then these presents shall 6e void; otherwise. to be and remain in full force and
<br />effect; but rf default should be made:
<br />!a1 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 />(h) In keeping the Improvements en Bald 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. m a company dr companies acceptable to Com-
<br />mercial. the original of such policy or policies td 6e held by Commercial, and with a mortgage clause atmched to Bald policy or policies.
<br />in favor of Commercial: or
<br />(c) In the payment of taxes and assessments levied upon said premises, or en this mortgage, before they are tlelinquenk or
<br />itli If there is any change m [he ownership of the !eat estate mortgaged herein. by sale, either onto ght or by land contract, or by assignment of
<br />anv interest thereon or otherwise;
<br />then, in any of the above sebforth events. the whole indebtedness hereby secured shall, at the option of Commercial, immediately 6etome due and
<br />payable without further notice. and the amount due under Bald note and any other note far atloihonai advances made shall, from the date of the exercise
<br />of said option, hear interest at the maximum legal rate per annum, and this mortgage may then be foreclosed to sahsfy the amount due on said note. and
<br />any other note far atltli tional advances, together wi lh all swns paid by Commeraal for insurance. taxes. assessments and absuact extension charges.
<br />wrih interest thereon from the date of payment at the maximum legal rate.
<br />PROVIDED that in no event, either 6efare or after default. shalt the interest due under said note and this mortgage and any other note for ad-
<br />tliticnal advances made exceed the maxnnum lawful ;merest rate.
<br />PROVIDED, further, that in the event that deiauil occurs m L.~ making of ;,^.e ,aye:onts due en said rote, and un a,^.y otit?r not^ ter -add: i!^ra!
<br />atlvanres. as fh?rem agreed to 6e made, ar m keeping me premises ensured, as above premded, er if default I>e made m the payment of the lazes
<br />or assessments levied open the premises above descnbetl or upon tNs snorlgage, Define they are by law tlel'mquent, Commercial shall he entitled
<br />to the immediate pdssesson of the premises above-tlescr:bed, together with all rents, proceeds and issues arising out of the premises. and may
<br />m its drsaehon use the rents so far as it deems necessary for the pm pose of making repaus upon the premisos and (or the payment of mswance
<br />premiums, taxes and assessments upon such premises, and for necessary expenses incurred in renting said premises and wllecbng rent thereironi. and
<br />td apply same on said note and any notes evidencing future advances hereunder unlit the mdebtetlness secued is fully paid; and lot such pugloses.
<br />the undersigned does hereby sell, assign, set over and transfer unto Commercial all of said rents, proceeds and incomes including any land contract
<br />payments due mortgage owners or any other incomes of any type whatsoever from Bald property fo 6e applied on the notes above-tlescnbeQ but said
<br />Commercial shall in no case 6e liable for the failure to procure tenants, to collect rents, or td prosecute actions to recover possessmn of said premses.
<br />The Mortgagors further appoint Commeraal df Omaha, Nebraska, their attorney m tact, giwng said attorney power irrevocably, ertnei on rts own
<br />name or Mortgagors' names to take all necessary sups for proceedings in court or otlterwi se, to cause said premises to be vacated. to collect loofa is
<br />or other incomes due, and when vacant, to relet the same, to make all reasonable repairs and pay taxes out of sold rents, pmhls. contract Dayments or
<br />incomes and to do all such things either by its awn officers or by other parties duly authoiaeU and appmnled 6y it, as its agmit for said purpose, amt
<br />to charge of pay a reasonable fee for such services, all of the above td be done at such lentos and in such manner and on such teens os to thou said
<br />atlomey may seem best, with lull power of subshhdron.
<br />The Mortgagors hereby agree that if Conuueiaal either vdlunfari ly or nrvoluntan ly becomes dr is tootle a tarty to any soli or procetdmg rr. lilting
<br />to the hereinbefore descnbetl real estate, or to ih:u mortgage di said note ui notes, other than a foreclosuiu msb lutnd by Connneraal, 6tdrtgagars will
<br />raimixirse Commercial for all reasonable casts Incurred by Commeraal in said swt or pioteeding. The Mortgu goes lusher agree that if th^ here nbefore
<br />described real ostaie or any imrt thereof be condemned under the power of eminent doin~ n, of is othe uued for a public use. 1ho da+nages
<br />awarded, the proceeds for the taking, and far the considmatwn for such acquisibor~to th t e full am nt of ilia remmnmg uupaW mtlebted-
<br />th~s 5{cm `dri r tMs mortgage be, and they hereby are, assigned to Connnerciat an~ hat a.d forlhwit~ir omniercial to be ,:died on accand nl
<br />i ~~g7 stii.ments nl such indehledness-
<br />Dated this._!--'6~?~~__ _day of . _.. t___ 1~9_ ~~ \ 1t
<br />~ ~ r
<br />IN TH ONCE OF'. ~/ ~.--- - - - -
<br />Frances 0. , ouaea
<br />STATE OF NEDRASKA
<br />COUNTY OF BALL~,~~y,-r~~ ss. .. _. _..__. _.. - - - -
<br />On this ax' ~~ day of _ AU_$ust_- 19 80 6eime me, a rmtary public in and for said County peisonaily Live
<br />the above-named David W. Rou2ee and Frances 0. Rouzee husband and wife.
<br />to ore well known to tie the ideuticai person or persons whose name is of names aro affixed to ilia above n:orfoage as grdrrioi ni gianicn> anc tI;.CV- ~.d ~
<br />or she, severally ackngvsleq a the said instrument and the execuhon thereof. to be Char voluntary act and - -
<br />iHlMl rCitlq-!1W M YMruM f ~ ~ ~ /
<br />17NEg1101MGdi6iiI~MNIMb~I I this day and year last above written - ' i .F / ~
<br />~~ ~i~'G,Js~ ~ i ! lit,,,
<br />rty tnnnusswn exuues on Ihe_ day cf._ _ -
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