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MORTGAGE 85- .000629 ' <br />I, Joseph C. and Marilyn K. Kohanna , hereby give COMMERCIAL FEDERAL <br />SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following property: <br />E 50' Lot 3, Block 1, Elm Place <br />If more than one person signs this mortgage, the word "1" means "we". <br />This mortgage secures a loan made by Commercial. A note dated the same date as <br />this mortgage contains the terms for repayment of that loan. If that note is ever changed <br />or replaced by a new note, it will still be secured by this mortgage. <br />I promise the following things: <br />1 <br />2 <br />3. <br />4. <br />5. <br />6. <br />7. <br />All payments on any note or other debt secured by this mortgage will be paid <br />when due. <br />An insurance policy for fire and extended coverage will be kept in force on the <br />property in an amount at least equal to the debts secured by this mortgage plus <br />any other mortgages listed in paragraph 6. The insurance company must be <br />satisfactory to Commercial, and Commercial will be a named insured on the <br />policy. <br />All taxes and assessments on the property will be paid before they become <br />delinquent. <br />No waste will be committed on the property, and it will be kept in good repair. <br />The property will not be sold (including by land contract), leased, and no <br />interest in it will be assigned in any way. <br />I own the property free and clear of any other mortgages or encumbrances <br />except: Equitable Building & nan <br />No other mortgage or lien on the property will ever be allowed to be in default <br />or be foreclosed. <br />then Commercial can declare all of the debt <br />notice. The interest rate will increase, to <br />w at that time, and this mortgage can v be <br />also assign any rent or other income % m <br />If any of these promises are not kept, <br />immediately due and payable without advance <br />19.00% or any greater rate allowable by la <br />foreclosed. If the debt is accelerated, then 1 <br />the property to Commercial. <br />Certain amounts can be paid by Commercial and added to the debt secured by this <br />mortgage. They are any taxes or insurance i have agreed to pay but fail to, any <br />attorney fees or court expenses Commercial pays if it is made a party to any legal action <br />brought by someone else concerning the property, and any attorney fees or court <br />expenses which the law might allow if Commercial has to go to court against me to collect <br />the debt or foreclose this mortgage. If any of these things happen, then the additional <br />debt will accrue interest at the same rate as the rest of the debt and must be paid <br />immediately. <br />If this property is ever condemned under the power of eminent domain or any similar <br />method of taking property for public use, any proceeds of the taking will be paid to <br />Commercial up to the full amount of the dent Secured. <br />2/4/@5 <br />Date <br />