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Commercial Federal 87 104061 E'lk Savh+ga i Loon Aswisti n (� Conuaw L0at1 DoWment MORTGAGE 1 P.O. Box 1108 D.T.S. Omaha, NE 66101 (402) 5549695 I, Wl 11 iam C. Brennan and Debox4tL.K,.– Brtnnan ______ , hereby give COMMERCIAL FEDERAL flw r 'sco� noaara !Name and Thor fWagatsh;p SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following property: Lot Two (2) Colonial Estates Third Subdivision to the City of Grand Island, Hail County Nebraska. If more than one person signs this mortgage, the word "I" means -we ". This rrwrtgage 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 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 will be assigned,in any way. 6. I own the property free and clear of any other mortgages or encumbrances except: Equitable Bulldina Finan>ti h1ea" Hdlg 1st N"affe 7. No o er mortgage or lien on the property will ever be allowed to be in default or be foreclosed. II any of these promises are not kept, then Commercial can declare all of the debt immediately due a„d payable without advance notice. The interest rate will increase to 19.00°0 or any greater rate allowable by law at that time, and this mortgage can be foreclosed. It 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 tail to, any attorney fees or court expenses Commercial pays if it is made a party to any tegal 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 additional debt will accrue interest at the same rate as the rest of the debt and must be paid immediately. It 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. - Ekxrow.,r a {��,y 711/87 _— _ i %V� iV1�G�! �, rc.JrLi2I?Ei -{t/ ToOey'a Pazs CoHU..vwe. � S+,tnaturc STATE OF NEBRASKA I COUNTY OFHa 11 ) ss. On this 1st day_ of _ au 1 y ____._ . 19 __ , before me, a notary public in and for said county, personally cam 1 tam t;, Brennan and Deborah K. Brennaq 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. WITNESS my hand and notanal seal the day and year last above written. Nota.y Pubs t s at— `— f 1 My commission expires IEANNE M. SCHROER GENERAL NOIARYS late ofNab, CL 27 MYCamm.Exa. Jan. 29,1988 Rev 1195 J r`