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<br /> ��� U(1fiQ27 EXPANDABLE MORTGAGE
<br /> ASSIGNMENT OF R£MTS �oan No. 818435-9
<br /> KNOW Al.l 11EN 8Y THfSE PRESE�ITS�Tbst Donaid C. Enck. Jr. and Cynthia M. Enck, husband and wife
<br /> (hereinafter called the Mortya�ora)in consideration of the sum of
<br /> Twenty—Six Thoasand Six Hundred and no/100------------------------ Oox�nls 26 600.pp 1 Y �
<br /> � M�aned [o lila�a,d� tr�nt,bar�n aeM snd co�vey unGo COAIMfRC1Al FEOERAL SAVINGS AND LOAN ASSOCl�TION tK Omaha. �
<br /> Mebr�st�. (ba�er c�Yed�"�oiea�erci�i"), its successwa aed aas�ns, tfie fo�le�+ring deurieed reai estat�, situated in the Caunty of. � �'
<br /> Hsil St�e.of Nebnak�,toiwt:
<br /> Lot Threr (3) in Btack Thlrty-Nine (39) in Russei Wheeler's Addition
<br /> to the City of frand Island. Nebraska. , ,
<br /> TO HAVE AND TO HOLD THE SAME, wilh the appurtenances thereunto helonging, wto Commercial, its successors and assigrts,forever.
<br /> Said MatOagors hereby cov�ant witl�said Commercial, its wccessors and assigns, that Mortgagors are lawfully seised of sald premises,that
<br /> Mey aro free from �+cumWsnces, and that tt�ey will �orever warrant and defend Me title to sald premises against C�e lawful claims af all persons
<br /> whamsoever.
<br /> Provided, nevertheless, fhese presents are upon the following conditlons:
<br /> That whereas fhe said MortQagors as members of Commercial have this date executed a note ewdencing 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 by�e terms of sa�d note and Charter and ByLaWs of
<br /> Con�merciaL
<br /> That whereas fhis mortgage shall secure any addi6onal advances, with interest, which may,at the option of Commercial,be made by Com-
<br /> meruat to the unders+ened Mort�gors or their successors in title for any purpose,at any time before ihe release and cancellation of this mortpage,
<br /> but PROViDED, HOWEVER.at no time shall the aggregate princ�pal amount secured by 7�is mortgage,beinQ the amowt due at any time on said
<br /> wiginal note aod a�y additioaal advances made.exceed an amount equal to I10 percent of the amount of fhe original note,hut in no ev�t shall
<br /> said note exteed tlie maximum amount permitted by law,and PROVIDED,HOWEVER,that nothing herein contained shall be considered as limiting
<br /> ihe amount tl�at shall be secured hereby when advanced to protect the secunty or in accordance with covenants contained in the mortgage.
<br /> Now, if tfie said Mortgagors shall pay or cause lo be paid the said sums of money when due,as set forlh in said note,and any olhe�note for
<br /> aAditiawl advances made until said debt is fully paid wilh interest, then these presents shall be void:otherwise,to be and remain in full face and
<br /> e#Ixt;but if default should be made:
<br /> Ia) In any of tl�e payments due on said note,and any ot�er note for addiGonal advances made,as therein agreed to be made for Ihree monlhs,a
<br /> (b) In keepinQ the improvements on said preenises msured aga�nst loss by reason of fire, lightmng, and other hazards included in extendetl
<br /> cove�age insurance in an amounl nol less than the unpaid balance of said mortgage loan, in a company or companies accepWble to Com-
<br /> mercial, fhe original of such policy w polic�es to be held by Commercial, and with a mortgage clause attached to said policy or policies,
<br /> in tavor of Commercial;or
<br /> (c) M+tl�e payment of taxes and assessments levied upon said premises, or on this mortgage. before Mey are delinpuent; or
<br /> (d) If there ia any chanee in the ownership of fhe real estate mortgaged herein. by sale,either outright or by land conhact,or by assignmenf o!
<br /> any inte�est ffiereon or otfierwise;
<br /> tl�f, ia my of ihe a9ove se4forth evenis, the whole h+ifebtedness hereby secured shal I, at the option of Commercial,imma0iately become due and
<br /> paysbie wilhout lurther notice,and the amount due under said note and any other note for additional advances made shall,from ffie date of�e exercise
<br /> of said option,bear iaf�erest at Me maximum lepal rate per annum,and fhis mortgage may fhen be foreclosed to satisfy the amounl due on said note,and
<br /> any ofher nole for additia�al advances,togethe�witfi all sums paid by Commercial for insurance,taxes.assessments and abstrad extens�on charges,
<br /> with i�terest the�eai Gom the date of payment at the max�mum legal rate.
<br /> PROWDED that in no event, either betore or after default, shall the Interest due under sa�d note and fhis mortgage aead any otl�er note for ad-
<br /> ditional advances made exceed�e maximum lawful interest rate.
<br /> PROVIDED,further,tl�at in the event Mat defautt occurs in lhe making of the payments due on said nate,and m any other note for adCiGonal
<br /> advantes, as therem agreed to he made, or in keeping the premises insured, as above prowdad,or it default be made in the payment of ihe taxes
<br /> or assessments levied upon C�e premises above described or upon this mortgage, before they are by�aw dellnQuent, Commercial shall be entitled
<br /> to tl�e immediate possession of the premises above describeA, together with atl rents, proceeds and �ssues arismg out of the premises, and may
<br /> in its d�scretion use the rents so tar as it deems necessary for the purpose of making repairs upon the premises and for fhe payment of msurance
<br /> prem�ums,taxes and assessments upon such premises.and for necessary expenses incurred in renting said premises anC collacting rent therefrom,anA
<br /> M apply sdme on said note and any notes evidencing future advances hereunder until the mdebledness seared is fulty paid;anG tor such purposes,
<br /> Ihe undefsi�nee! does hereby sell,assign, set over and transfer unto Commercial al I of said rarits.proceeds anA incanes including any land contratt
<br /> p�yments due mort'age owners or any other incomes of any type whatscever (rom said property to be applied on the notes above-descri6ed: hut said
<br /> Commercial shaH in no case be liable for fhe failure to procure tenants.to collect rents,or to prosecute actions to recover possession of said premlus.
<br /> The Abrtgapors iurther appoint Commercial of Omaha, Nebraska, their attomey in tact, giving said attomey power Irrevocably,eitl�er on its own
<br /> naaie or Yort�Qors'names to take al I necessary steps for proceeG�ogs�n court or otl�erwise. to cause said premises Eo be vataled,to collect rentals
<br /> or otl�er incomes due,and when vacant,to relet fhe same. to make all reasonable repa�rs and pay taxes out ot sa�d rents,pro(its,contract paymenis or
<br /> incomes and to do all such lhings eitlae�by its own ufficers oi by other parties duly autfionzed and appomted by it,as its agent tor said purpose,and
<br /> to charge or pay a reasonable fee for wch servlces, all of the above to be tlone at such times and in such manner arM on such terms as to tf+eir sald
<br /> at�omey may seem best,w�tli full power of substitution.
<br /> The IibrtQa�ors hereby agtee tl�at if Commercial eithe�voluntanly or�nvoluntan ly becomes or is matle a parry to any wi:or proceeding relating
<br /> lo the herembefore described real estsle, or to fh�s mortgage or said note or notes,otfier than a foreclosure instituted by Commercial,Mo�igagors will
<br /> relm6urx Canmercial for atl reasonable costs incurretl by Commerdal in said sui!or proceeding. The Mortgagors further agree th;;;�u�e herembefore
<br /> deurihed real esbte w any part thereof be condemned uaitler !he power of eminent domain, or is oMerwise acquired for a public use, the damages
<br /> awarded, tl�e proceeds for ffie tak�ng, and for ihe consideration tor such acqwsilion to the eztent of the full amount of the remaining unpald indehled-
<br /> nesa secured by lhis mort$a�e,be,and tlfey he�eby are,assigaeC to Coma�ercial and shall be paid forlhw�lh to C�mercial to be applied on account of
<br /> Me last mslunng installments of such indebledness.
<br /> Wted th�s___._.__�i'�_ _ dav of Novemb�r 19 77 � n,
<br /> E P e af: _�. ..��������..-,�
<br /> � .�'�_-r� Doaald C. Enck, Jr.
<br /> � -- -- � , �
<br /> �� �L �� c'"��+� ' .i
<br /> Cyn ia M. Enck �,
<br /> STATE 0�MEBRASKA
<br /> COUMTYOF Hal] � - ,� �
<br /> �fk�ffiis 3�d. —d�y ot--►�mwm�ber _-_ , 19 ZZ__ . bet«e�ae,a rotuY public in and for said CcHmmty.oersonally came ��
<br /> C
<br /> me�6owe named ,
<br /> Dona7d t. Crac�, Jr. a+��i Gy+�tY�ta Jd. E++�:ic. I�usband and wife .
<br /> W me wall keawA b tie tl1s idenlit�i noas Mtofe pane iS sr ean�et xa afiieed b tlit above iaort�age as grantor or grantors and they,he
<br /> a�,�.��.���,��;� �'�'�.�T,���,,�����.
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<br /> wmess �y n.ae a�e���aa sai�+;: � MOT�v —
<br /> ��dRA51U+ � �----�����N������a���/t�"' �
<br /> MYOortwNtnon E Sey� ,:,� 1,�g , __---_______.
<br /> My comm+ssan expires on Ibe 29� day ot S tteher Notary Pub�ic
<br /> Gj? , 19�• M 50
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