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<br /> Commercial Federal Bank, P.O. Box 1 103,Consumer Loans, Omaha NE 68101.Branch phone number
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<br /> Space above this line for recording data. �n �� ��$�� �
<br /> Commercial MORTGAGE - Collateral c�
<br /> f�derat�a�rl�c _ --
<br /> Real Estate Mortgage
<br /> Nature of Indebtedness Loan Amount Maturity Date Initial Interest Rate
<br /> ConsumerLoan 15,097.00 05/09/09 10.250
<br /> i, DaOGC�AS J CARLSCH� and Iu11�Il�lIEG CARL90�T
<br /> hereby give Commercial Federal Bank,a Federal Savings Bank("Commercial Federal"),whose address is P.O. BOX 1103,
<br /> ��� �' 6a101 a mortgage,with power of sale,of the following property together with all improvements now or
<br /> hereafter erected on the prope ,and all easements,rights and appurtenances thereto:
<br /> N 1�2 LOT 3 & AI�L IAT 2, SIiO(3C 3, 1ST AD�ITI�T
<br /> CAII�O, HAI,L CXXJNPY, I�1�P,.SEQ�,.
<br /> If more than one person signs this Mortgage,the word"I"means"we."
<br /> This Mortgage secures a loan made by Commercial Federal evidenced�by:
<br /> A note dated the same date as this Mortgage in the amount of$ 15�097.00 ,with interest at the initial rate of 10.250 %
<br /> per annum,contains the terms for repayment of that loan.If that note is ever changed or replaced by a new note,it will be secured by this Mortgage.
<br /> I promise the following things:
<br /> 1• All payments on any note or other debt secured by this Mortgage will be paid when due.
<br /> 2. An insurance policy for fire and extended coverage will be kept in force on the property in an amount at least equal to the debts secured by this
<br /> Mortgage plus any other mortgages listed in paragraph 8 below.The insurance company must be satisfactory to Commercial Federal,and
<br /> Commercial Federal will be a named insured on the policy.
<br /> 3. All taxes and assessments on the property will be paid before they become delinquent.
<br /> 4. No waste will be committed on the property,and it will be kept in good repair.
<br /> 5• The property will not be sold (including by land contract),leased,and no interest in it will be assigned in any way.
<br /> 8• I own the property free and clear of any other mortgages or encumbrances EXCEPT �� ���AT. $�1�'�
<br /> 7• No other mortgage or lien on the property will ever be allowed to be in default or be foreclosed.
<br /> If any of these promises are not kept,then Commercial Federal can declare all of the debt immediately due and payable without advance notice.
<br /> Exceptions may be required by law.The interest rate will increase to 19.00%or any lesser of the maximum rate allowable by law at that time,and this
<br /> mortgage can be foreclosed in accordance with applicable law.If the debt is accelerated,then I also assign any rent or other income from the property to
<br /> Commercial Federal. THE PARTIES AGREE THAT THIS CONSTITUTES A COLLATERAL REAL ESTATE MORTGAGE PURSUANT TO SO.DAKOTA C.L.448-26
<br /> (FOR SO.DAKOTA RESIDENTS ONLY). In the event of any default in the making of any payment or in keeping any covenant herein,this Mortgage may be
<br /> foreclosed by action,or by advertisement as provided by statute or the rules of practice relating thereto,and this paragraph shall be deemed as authorizing and
<br /> constituting a power of sale as mentioned in said statute or rules and any amendment thereto,and may retain statutory costs and attorney fees(SD,WY,MN,
<br /> OK,and MI residents only).
<br /> Certain amounts can be paid by Commercial Federal and added to the debt secured by this Mortgage.Including any taxes or insurance I have agreed to
<br /> pay but fail to,any attorney fees or court expenses Commercial Federal pays if it is made a party at any legal action brought by someone else concerning the
<br /> property,and any attorney fees or court expenses which the law might allow if Commercial Federal has to go to court against me to co�lect the debt or
<br /> foreclose this mortgage.If any of these things happen,then the additional debt will accrue interest at the same rate as the rest of the debt and must be paid
<br /> immediately.
<br /> If this property is ever condemned under the power of eminent domain or any similar method of taking property for public use,any proceeds of the taking
<br /> will be paid to Commercial Federal up to the full amount of the debt secured.
<br /> Borrower waives all right of homestead exemption in the properly and future waives all rights of redemption,exemption,distributive share and dower.
<br /> Notics to Borcower�for Oklahoma ro --
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<br /> p perty): A power o�aale has been granted in this Mortgage. A power�aale may allow the Mortgage to take tfie
<br /> mo age prope an ae wi ou go�ng cou �n a orec osure ac ion upon e orro er un er gage.
<br /> 04/26/99 DOUGL�AS J CARi.9C�T ,.
<br /> Today's Date Borrower's Typed Name orr r s � e��y�i--C�`�
<br /> flANNTTTi�. (�'`� `
<br /> Borrowers Typed Name Borrower's Signature
<br /> 50SL SaT�I AT:F'.XAUIIRTA ��p, � 68824
<br /> Borrowers Address
<br /> STATE OF � �
<br /> j ss.
<br /> COUNTY OF F��
<br /> On this 26� day of �L , 19 99 ,before me,a notary public in and for said county, personally came
<br /> �i � J �.w� a'IK� ��T�T'�' � to me known to be the identical person or persons whose
<br /> name is or are affixed to the above mortgage,and they,he/she everally acknowledged the said instrument and the execution thereof to be their
<br /> voluntary act and deed.
<br /> WITNESS my hand and �C�a,� above.
<br /> My commission expires: �,M.
<br /> NE-IN-WY-IL-SD- m.E�P' � Notary Public's Signature DN-1077 (07/97)
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