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<br />9oI'fOW6r's.-'Co-Bonowe,.-s Name and Their Aelauonship
<br />\j~VINGQ ANa LOI\N I\QQ(]GIATlQN (~l}mm~r~i5l)? !! mortE}aEr on the lollowinjil property:
<br />
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<br />Lot 2 Block 3 Colonial Estates Subdivision in the city of Grand Island Hall
<br />County, NE.
<br />
<br />If more than one person signs this mortgage, the word "I" means "we".
<br />
<br />This mortgage secures a loan made by Commercial. A note dated the same date as this mortgage contains the terms
<br />for repayment of that loan. If that note is ever changed or replaced by a new note. it will still be secured by this mortgage.
<br />
<br />I promise the following things:
<br />
<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
<br />to the debts secured by this mortgage plus any other mortgages listed in paragraph 6. The insurance company must
<br />be satisfactory to Commercial, and Commercial 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 wjll be assigl1ed in any way.
<br />6. I OWJJ the property free and clear of any other mortgages or encumbrances except: F1rst Fam1ly Mortgage
<br />l. 0 r p .. F_ InstiMion Hoking 1st Mortgage
<br />7. No other mortgage or lien on the property will ever be allowed to be in default or be foreclosed.
<br />
<br />If any of these promises are not kept, then Commercial can declare all of the debt immediately due and payable without
<br />advance notice. The interest rate will increase to 19.00% or any greater rate allowable by law at that time, and this mortgage
<br />can be foreclosed. If the debt is accelerated, then I also assign any rent or other income from the property to Commercial.
<br />
<br />Certain amounts can be paid by Commercial and added to the debt secured by this mortgage. They are any taxes or
<br />insurance I have agreed to pay but fail to, any attorney fees or court expenses Commercial pays if it is made a party to
<br />any legal action brought by someone else concerning the property, and any atlorney fees or court expenses which the law
<br />might allow if Commercial has to go to court against me to collect the debt or foreclose this mortgage. If any of these things
<br />happen, then the additional debt will accrue interest at the same rate as the rest of the'debt and must be paid immediately.
<br />
<br />If this property is ever condemned under the power of eminent domain or any similar m!lthod of taking property for public
<br />use, any proceeds of the taking will be paid to corl. up to the full amount of t debt secured.
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<br />Today"s Date
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<br />STATE OF NEBRA[SKA
<br />COUNTY OF HAL
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<br />ss,
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<br />On this 3rd c\J;lY Qf, December . 19 87 ,before me, a notary public in and for said county.
<br />personally came Donald sa 111 nqer and Sue L. SaTTTnqer , to me known to be the identical person or
<br />persons whose name is or names are affixed to the above mortgage, and they, he or she severally acknowledged the said
<br />instrument and the execution thereof to be their voluntary act and deed.
<br />
<br />k \IM~~nff.t1Il.Mlend notarial seal the day and yea.r. last above Writlen.. .
<br />. GENERAL NOT ARY J'o'. v f.c.
<br />:..:t.'; " MyComm.hp.J.n. 29,1~88 '--~c, ,',-","",,- ",
<br />Notary PublIC S S re
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<br />r t GENERAL NOT ARY :;'o'co,Nel'
<br />:-.Af.:';:.? MyComm.bp.Jan.29.1988
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<br />Rov_ 11185
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