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t MORTGAGE 87- 105836 <br />1 _ _ __�_�_— , hereby give COMMERCIAL FEDERAL <br />'a<LaraartmYal "A NAma and ftl,ir NalalalnABM <br />SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following property: <br />Lot 237, N. 15 1/31 of Lot 238, in Belmont Addition, Grand Island, Hall County, NC <br />If more than one person signs this mortgage, the word "I" means "we ". <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 <br />I promise the following things: <br />1. AN 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 equai <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 hiss(' t %AWdLIp11101n; <br />6. 1 own the roperty free and clear of any other mortgages or encumbrances except: Fn rw won 10 <br />7. other 1 �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 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 />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 attorney 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 />If this property is ever condemned under the power of eminent domain or any similar method of taking property for public <br />use, any proceeds of the taking will be paid to Commercial up to the full amount o the debt secured. <br />eortower'a Sgnatwe <br />Today's oau rro—s SgMture <br />STATE OF NEBRASKA ► <br />COUNTY OF Hal l ) ss. <br />On this da f 19 g.7. , before me, a notary public in and for said county, <br />personalty came M 91 —A -E s6n 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 />WITNESS my hand and notarial seal the day and year I bove w tten. 2 <br />Notary obmos swatwe <br />C t r '', VG't %f�NOlaCtIYN'DSIY 6 IPNAGII <br />bras" <br />N: YComtxP +eMy commission expires _ <br />CL47 <br />Nev. 11.85 <br />