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<br /> 77� OO"r164 EXPANDABLE MORTGAGE �oa�No. __i1.$��-4_ ___
<br /> ASSIGNMENT OF RENTS
<br /> KNOW All MEN BY THESE PRESENTS:That Ptark R, f3runer and Kristi K. I'runer, husband and wife
<br /> (hereinafter called the Mortgagors) m consideration ot the sum of
<br /> Twenty-Four Thousand Two Hundred and NO/100-----------------------Doltars(5 24 200.00 1
<br /> loaned to Mortgagors, do hereby grant, bargam, sell and convey unto COMMERCIAI FEDERAL SAVINGS AND LOAN ASSOCI�TION of Omaha,
<br /> � Nebraska. (hereinafter called "Commercial"), its successors and assigns, the tollowing described real estate, situated m the County o(.
<br /> Ha 11 State of Nebraska, to wit:
<br /> Lot sixteen (lf,), 131ock ten (10) in University Place, an
<br /> Addition to the City of Grand Island, Flall County, "lebraska
<br /> TO HAVE AND TO HOLD THE SAME, with the appurtenances iheieunlo belonging, unto Commernal, its successo�s and assigns, forever.
<br /> Said Mortgagors hereby covenant with said Comr,�ernai. :;� sccressors ana assigns. that Mortgagors are lawfully seized of saitl premises,that
<br /> they are free from enarnbrarces, and thal they v�ill f^�evar warrard and defend the tiUe to said premises against the lawful claims of atl peisons
<br /> whomsoever.
<br /> Provide0, nevertheless, these presents are upon the tollowing condiGons:
<br /> That whereas the said Mortgagors as rnembers of Conuneraai have this date erecuted a nofe evidencing such loan and agreeing to repay said
<br /> suni o( rnoney, with interest, in payments as se! torth �n said no2e and have agieed to abide by the tenns of said note and Charter and By•Laws of
<br /> Commercial.
<br /> That whereas this mo�tgage shall secure any ad�i�honal aovances, with interest which may, af the option o(Commercial. be�nade by Com
<br /> mercial tu the widersigned Mortgagors or[he�r succ�essors�n htle for any purpose, at any tnne before the ielease and cancellahon of this mortgage.
<br /> but PROVIOED, HOWEVER,at no l�me shall the aggre�ate pr�napai arnount secwed by this mortgage,being lhe amount oue at any bme on said
<br /> onginal note antl any additionai advances made, exceed an amount equal to ll0 percenl of the amounlof lhe onginal note, but in no event shall
<br /> saitl note exceed the maximum amount perniitted by law.and PROVIDED. HOWEVER.that nothing here�n conlained shall be consideretl as I�miting
<br /> the amount lhat shalf be secured hereby when ativanced to protect Ihe secunty or in accordance w�lh covenants contamed in the mo�tgage.
<br /> Now. it the said Mortgagors shall pay or cause !o be pa�d the sa�d swns of money when tlue.as se!torth in saitl note, antl any other note for
<br /> additional advances made until said de�t �s fully paid with interest then these presenis shall be void: otherNise.to be and remain in tull force and
<br /> effect;but if default shoultl be made:
<br /> �a� In any ol the payments due on sa�d note and any other note tor addihonal advances made,as therein agreed to be made for three months,or
<br /> �b� In keeping the nnprovements on sa�d premi ses �nsuretl aga�nst loss by reason o( hre, lightning, and other hazards�ncluded�n extendetl
<br /> cove�age insurance in an amount not less than the unpaid balance of sa�d morlgage loan. in a company or companies acceptable to Com
<br /> merciai the onginal of such policy or polic�es lo be held by Co�nioercial, and wrth a mortgage clause attached to said policy or policies,
<br /> in favor of Commeicial,m
<br /> �c� In the payment of taxes and assessrnents levied upon sa�d prenuses, or on this mortgage,before they are delinquen�:or
<br /> �tl� If there�s any change m the owneish�p of [he real estate �n�rtgageC heie�n. by sa�e, e�fher eutngh!or�y land contract,or by assignir;eot of
<br /> any interest thereon or utherwise,
<br /> then. in any of the above set forth events, the whole intlebtedness hereby secured shall, at the opt�on of Conuneiaal, immetliately become due and
<br /> payable without furCher notice and the ainount due uride�said note and any other note for adtlitional advances matle shall,from the date of the exercise
<br /> of said ophon, bear interest at the maxunum legal rate per annwn ana this mortgage may then be foreclosed to satisty the amount due on said note,ana
<br /> any other note for additiona;advances. togethei w�th all su�ns paid by Commeraal (or insurance. taxes,assessmenls antl abstract extension charges.
<br /> with interest thereon from[he dale of paynient at the niaximum legal rate.
<br /> PROVIDED that in no evenl, either before oi aiter detauit. shali the �nterest tlue under said note and this mortgage and any other note for ad
<br /> ditional advances made exceetl�he inaxinwm lawful interest rate.
<br /> PROVIDED, further, that�n the event that aetault occurs �n the e�,aking ;t the� payments Aue on sa�a note,and on any othe�nute for atlditional
<br /> ativances. as therein agreed to be made or ui keeping the prem�ses �nsured, as above piovitled.or �f tlefault be matle m lhe payment of Ihe texes
<br /> or assessments lev�ed upon the piern�ses abcve descnbetl oi upon this �nortgage, belore they aie by IawtlehnquenL Commeraal shall be entilletl
<br /> to the immetliate possession of the prenuses above descr�fxd (ogelhei with an rents proceetls antl issues ansing out of the premises,and may
<br /> in its discretion use the rents so far as it deems necessary to� !he purpose of making�epairs upon the preuuses and foi the paynient uf msurance
<br /> premiums,taxes and assessments upon such prenuses,antl for necessarv expenses incurred in renting sa�d piem�ses antl coliecting rent there(rom,and
<br /> to apply same on saia note and any notes ewdenang future ativances he�eundei unti 1 the indebtedness seared is fully paio:antl for such purposes.
<br /> the undersigned does he�eby sell assign. set ovei and tiansfei unto Con�merc�al all of saitl rents.proceetls and incomes including any land contract
<br /> payments due moilgage owners oi any ofher incomes ot any type whatsoever fran sa�tl property to be appl�ed on the notes above tlescnbed,but said
<br /> Commercial shall in no case be hable for the failure to procure tenants to collect rents, or�o prosecute actions to recovei possession of saitl prenuses.
<br /> The Mortgagois turther appoint Coir�ine�aal of Omaha Neb�aska fheir attorney in fact. giving said attomey power irrevocably,either on�ts own
<br /> name o�Mortgagors'names to take all necessary sleps tur pioceedings�n court or otherw�se. to cause said piemises to be vacated, to collect rentals
<br /> or other incomes due,and when vacant tu relet the same, tn niake ali �easunable�epa�rs and pay taxes out of sai0 rents,piotits cuntract payments or
<br /> mcomes and to do all such things either by its own ofhcers oi by other parues tluly authonzed ano appomtea by i! as�ts agent for said purpose.and
<br /> to charge or pay a reasonable fee for such se�v�ces n�l z,f the above (n L�e done at s�:ch lirnes and�n sueh nianner arid r�n such tenas 5s to their s'a�d
<br /> attoiney may seem best.with full power of substitution
<br /> The Morigagors hereby agree that it Commeraal erthei voluntaniy or �nvotuntaiily beromes or is made a party to any suit or proceetling relating
<br /> to the herembeforedescnbed real estate or to this mortgage or sa�d note oi notes other than a foreclosure inshtuted by Co�nmercial,hlortgagors w�ll
<br /> reimbwse Commercial for all reasonable cosfs�ncurretl by Commercia� m sa�tl sw!or proceedmg The Mort;agors(urthei agiee that if the hereuibefore
<br /> tlescnbed reat estate or any part thereof be contlemned unaer the power ot eriinent aoma�n or�s otherwise acqu!reo for a pubiic use the A����agcs
<br /> awarde4 the proceeds for Me taking. antl for the cons�tlerahon foi such acquisiLon to the eKtent of the fuil amount ot the remain�ng unpaitl indebted
<br /> ness seared by this morlgage, be.and they hereby are, assigned ro Commerciai and shall be paid for[hwith to Commerc�ai to Ix appl�ea on accoimt c:f
<br /> lfie last matunng�nstallments of such �ndebtedness. ,j
<br /> Dated this— 1�-�1--—__day of �LS�.R?��!" _ 19 l7 '`_/�/ n ,
<br /> I E R ENCE Of �!�.if-'��°� _ ",� JI _
<br /> ,. llit—r"'__
<br /> ���a--f-� �1ark R. E;runer
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<br /> __ _ _ 5�2�� . � ]�_c�.c.7-��'LL _
<br /> ----- -------- — __-- ---- � , .
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<br /> Kri sti K. i�runer �°
<br /> STATE Of NEBRASKA
<br /> . � S5. ._._ �___ _...___.._. .._._._._._. ..._. _.._ ._._ .. ..... . .. ���.
<br /> CouHTv oF Suffalo
<br /> On this __ _ IZth. -_ day ot QS:Z.��C 197J be(ore �ue. a notaiy publ�c�n and for said County peisonally came
<br /> the above named
<br /> i�iark R. Bruner and Kristi K. Sruner, husband a�a wife
<br /> to me we11 knOwn lo bC fhe�tlentical atf�xetl to tfie abOve mvrtgage as giantor or gr3ntb�s dnd tney he ��
<br /> or she,severally acknowledge the sa�tl nstr ent and o he hei r volunfarv act and deed.
<br /> YiiTNESS iny iienu auJ f�ulai�ai�eai lm ` ' i � ��
<br /> � � //;�j�'t� —r =�)
<br /> � '��3�J f"'.!��" �
<br /> My c.omnnssion exuires on the _.Zg�_ _ dav u� SE���III�Et^ � 79 .
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