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Commercial Federal �F Savings b Loan Aswciation s Consumer Lean Department P.O. �� 1103 D.T.S. MORTGAGE $7-- 101562 Omaha. NE 68101 (402) 554.9595 Larry Grim and Rita L. .Tarim hereby give COMMERCIAL FEDERAL Soffo �s- Co-B�s Name am net Raeuo -t io SAYINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following property: Lot Three (3), in Block Fifteen (15) in Charles Wasmer's Addition to the city of Grand Island, Hall County, Nebraska. If more than one person signs this mortgage, the word "I" means "we`. This mortgage secures a loan made by Commercial. A note dated the same date as this mortgage contains the terms for repayment of that loan. If that note is ever changed or replaced by a new note, it will still be secured by this mortgage. I promise the following things: 1. All payments on any note or other debt secured by this mortgage will be paid when due. - 2. An insurance policy for fire and extended coverage will be kept in force on the property in an amount at least equal to the debts secured by this mortgage plus any other mortgages listed in paragraph 6. The insurance company miust be satisfactory to Commercial, and Commercial will be a named insured on the policy. 3. All taxes and assessments on the property will be paid before they become delinquent. 4. No waste will be committed on the property, and it will be kept in good repair. 5_ The property will not be sold (including by land contract). leased. and no interest in it_yvif �$�rt4age�. 6. IFpyun the pr�erty free and clear of any other mortgages or encumbrances except: NQb 7nanre tp F.,iorrsaragtq:,cn gs 7. No other mortgage or lien on the property will ever be allowed to be in default or be foreclosed. If arty 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 19.009°6 or arty greater rate allowable by law at that time, and this mortgage can be foreclosed- if the debt is accelerated, then 1 also assign any rent or other intxxrte from the property to Corm. Certain amounts can be paid by Commercial and added to the debt secured by this mortgage. They are am taxes or insurance I have agreed to pay but fail to, any attorney 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 atliomey 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 rortgage. 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 i Twne y. It this property is ever condemned under the power of eminent domain or any Simla method of taking property for public use, any proceeds of the taking will be paid to Commercial up to the 4A arnount of the debt secured. i a.�a„e 3/12187 e`ltjac' Temv s ogee Co- ao.,ava. sae STATE OF NEBRASKA ) COUNTY OF Hall I ss. On this 12th day of March — 19 87 , before me, a notary public in and for said county, personalty came I aria (:r l rri and Rita I _ f ri m , to Tiro known to be the identical person or Persons whose name is or names are affixed to the above mortgage, and they, he or she severalty acknowledged the said instrument and the execution thereof to be their voluntary act and deed. WETNESS my hand and notarial seal the day and year last above written. JEANNE M. SCHROER GENERAL NOTARY rotary R.axc 5 'tnaa�' reir�.taw- Jaa.24,i988 My commission expires t - ;t_�\-4" L In t�