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~\ EeglJ1~~~~!O~!liEederal Consumer Loan Department P.O, Box 1103 D,T.S. Omaha, NE 68101 (402) 554-9595 88- J()O~O I MORTGAGE Borrower's.'Co-Borrower's Name and Their Relationship SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following property: Merle Simmons and Janice M. Simmons , hereby give COMMERCIAL FEDERAL I, Lot Twelve (12), Block One (1), Gosda Subdivision, Hall County, Nebraska. ~~, If more than one person signs Ihis mortgage, the word ''1'" means "we". This mortgage secures a loan made by Commercial. A note dated the same date as this mortgage contains the terms 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. I promise the following things: 1. All payments on any note or other debt secured by this mortgage will be paid when due. 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 mortgage plus any other mortgages listed in paragraph 6. The insurance company must be satisfactory to Commercial, and Commercial will be a named insured on the policy. 3. All taxes and assessments on the property will be paid before they become delinquent. 4. No waste will be commilled on the property, and it will be kept in good repair. 5. The property will not be soid (including by land contract), leased, and no interest in it will ~e as~igned in qflY way'. 6, I own the property free and clear of any other mortgages or encumbrances except: Equ 1 tab I e Bu 11 d 1 nQ IX. L 9 a. R As s e c. Fnanciallns1i!uticn Holling 151 Mor1gage 7. No other mortgage or lien on the property will ever be allowed to be in default or be foreclosed. If any of these promises are not kept, then Commercial can declare all of the debt immediately due and payable without advance notice. The interest rate will increase to 19.00% or any greater rate allowable by law at that time, and this mortgage can be foreclosed. If the debt is accelerated, then I also assign any rent or other income from the property to Commercial. Certain amounts can be paid by Commercial and added to the debt secured by this mortgage. They are any taxes or insurance I have agreed to pay but fail to, any allorney fees or court expenses Commercial pays if it is made a party to any legal action brought by someone else concerning the property, and any attorney fees or court expenses which the law might allow if Commercial has to go to court against me to collect the debt or foreclose this mortgage. If any of these things happen, then the ac:lditional debt will accrue interest at the same rate as the rest of the debt and must be paid immediately. 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 will be paid to Commercial up to the full amount of the debt secured. --1.1 \ J... \J<;; Today's Oa'e ~c~/ Bofrow6r"s Signalure ~o ~...~ Q Co-Borr r's Signature . 4?'~- .~;;-",:~o._...-~ ~ ~:,\,'\ ^,,~'-'1 STATE OF NEBRASKA COUNTY OF HALL ss. On this 12th d,ay of January. ' 19,.---!ill., before me, a notary public in and for said county. personally came Merle Slmmons and JanlCf' M Slmmons , to me known to be the identical person or persons whose name is or names are affixed to the above mortgage, and they, he or she severally acknowledged the said instrument and the execution thereof to be their voluntary act and deed. ~ WI,~ rm. ~~~d notarial seal the day and year last above wrillen. . GENERAL NOTARY :",,/eofNeb. .~. ~ ~ - - \~VvvJ-. -::;;-~~ MYComm.Exp.Jan. 29, 1988 No''''Y PubliC'S Sognalu,. - v\\ c. \ , .~-.I.t\\:k My commission expires \ - ::t '\ -&-~ CL.27 Rev. 1 L85 ,--.--- L L -.J , t:.. L