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nmerclal Federal <br />L001191 A0000wm" 05925 <br />0$ `"'"P t , MORTGAGE <br />0nratla, NE 48101 (40) 564-UN <br />Richard E. Kool Jr. and Bonnie Kool <br />I. �a —_ hereby give COMMERCIAL FEOEFiAI <br />'e'Grt a Nsmc aN Thsn Rs7eteonNxp <br />SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following properly; <br />Lot Sixteen (16) Western Heights Third Subdivision, Hall County, Nebraska. <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 ban. If that note is ever changed or replaced by a new note, it will still be secured by this mortgage. <br />I promise the following things: <br />1. All payments on any note or other debt secured by this mortgage will be paid when due. <br />Z. 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. AN 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 Wi(I be assktned i� any way. <br />6. 1 ni;ltft Rroperty free and clear of any other mortgages or encumbrances except: tt 1 r5 hedera <br />FmroW kwaftn Noldng lot s <br />7. No other mortgage 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. It 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 />mutt allow if Commercial has to go to court against me to collect the debt or foreclose this mortgage. II 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 amouq of the debt secured. <br />f �\ <br />Y <br />Bwrower'S S aI / <br />1 ©/1/87 1 <br />Tosry's Dab •Bwroww &gnalwe <br />STATE OF NEBRASKA ) <br />COUNTY OF Ha 11 ) ss. <br />On this 1 St day of October 1987 before me, a notary public in and for said county, <br />personally came Richard E. Knol dr. and Rnnnie Knn1 , 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 last above written. <br />NOtary POW <br />1EANNE M. SCHROER <br />l oonwrossion expires GE , <br />__,�;�� MyCema.Exp.len.29,198t1 <br />11 <br />In <br />CL-27 <br />Rev. 11,45 <br />19 <br />;r <br />