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20�2072 Mortgagor further understands and agrees that at each 3 year anniversary date of the Note, the Martgages shal! have the option and right, at Its sole dlscretlon, to adJust and modify the rate of interest per annum charged on the fndebtedness as sef forth �n the Note; sald new rate of interest, if any, shall apply #o the unpaid balance of principal existing at and shall be effective on the first day of the month that begins not less than 15 days afterthe safd appllcable anniversary date and thereafter. I�rterest rate variability is limited to 3% peradjustrnerrt period or a maximum of 6% overthe life of the loan. In the event of such adjustment in interest rat�, the month{y payment will be also adjusted accordingly. Any and all documents, i# any, reasonabiy deemed necessary to effectuate saEd Interest rate adjustment, upon execu�on, shall be considered a part of and Incorporated into this Mortgage or Deed of Trust that may have been given to secure fihe Nofie. The Mortgagor expressly agre�s to pay the Inde6tedness above secured, without relief from valuation or appraisemenf laws, and with attomeys' fees and upon failure to pay any part of the principal or interest, then all of the mortgage debt is at the option of fihe Mortgagee to become due and coliectible and thls mortgage may be foreclosed accordingly. It is further agreed that on the fallure of the Martgagor to pay any or all of the Indebtedness as if becomes due and should suit by insfi#u#ed to foreclose said mortgage, then the MorEgagee wil! be erititled to the possession, Fents and proflts of said Real �state from the �me of such default Said rents t� be applied upon said Indebtedness, less costs and expenses, if any. It is further expressly agreed that, until alI of said Indebfiedness shall be paid, said Mortgagor shall keep all legal taxes, assessments and charges agalnsf sald premises pafd as the same become due, and shaA keep the building thereon insured by such insurance company or companies as shall be approved by the Mortgagee, for the beneflt of fhe Mortgagee, as fts interest may appear, to tha amount of its fuli insurable value but not less than $40,000.00 and failing to do so, said Mo�gagee may pay said taxes or insurance, and the amownt so pa�d, wlth twelve per esnt interesf thereon, shall be a part of the Indebtedness secured by this mortgage. 7he Mortgagor agrees not fo Incur further Indebtedness, direct or indfrect, except upon the express writfen consent of the Mo�tgagee and further agrees not to sell, transfer or encumber any realty now owned by the Mortgegor including the above described property during the llfe of this instrument withoutwritten consent of the Mortgagee. I WITNESS WHEREOF, the Mortgagor has hereunto set fts hand and seal this �, day of �4^ 20�_. First Christian Church, Grand Island, Neb� , By: � S ja Pearson, Board Presiclent. f ��.' _� Kathy Idotto, T'reasurer ��.,1',�.� S / >. �� /��°-f�� Printed n me a d Title