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MORTGAGE 85--m 00027 I,Do2 las Paul Lees and Carol n Faye Lees , hereby give COMMERCIAL FEDERAL SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following The Southerly Thirty -Nine and Eight Tenths Feet (539.8') of Lot Seven (7) and the ly U< Twenty -Six and Four Tenths Feet (N26.4') of Lot Eight (8) in Block Eleven (11) in lest 4 Park Addition to the City of Gram Island, Hall County, Nebraska If more than one person signs this mortgage, the worn "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 r �n or replaced by a new note, it will still be secured by this mortgage. I promise the following things: M1. 1. All debt by this be payments on any note or other secured mortgage will paid when due. 2. An insurance policy for fire and extended coverage will be kept in force an the property in an amount at least equal to the debts secured by this mortgage Pkis J 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. S. The property will not be sold (including by land contract), leased, and no -- - - - - fill, be 6- igrl6d in any ;vat — - -- — 6. 1 own the ert fr an clear, f any other mortgages or encumbrances rinanciaf except: 1sPt rt�age -lower 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 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 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. 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. Date STATE OF NEBRASKA COUNTY Of ) On this 12 _day of January 19 before me, a notary public in and for said county, personally c , to me know to be the ti or persons whose naiiris '6—rn—ailiA are affixed to the above mortgages, and they, he or she severally acknowledged the said instrument and the execution thereof their to be voluntary act and deed. WITNESS my hand and notarial seat the day and year last above written. VAN $'I L . 4 a,, public My commission °1" 4 92