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MORTGAGE 86-001608 <br />James E. Smith and Madelyn A. Smith <br />SAVINGS AND LOAN ASSOCIATION (Commercial) Ia hereby <br />mor gage give <br />on the following owlinL FEDERAL <br />Lot one (1) in Block "E" in Park View Subdivision, Located in the Northeast Quar er property: <br />(NE 1/4) of Section Twenty Eight (28) in Township Eleven (11) North of Range Nine (9) <br />West of the 6th P.M., Hall County, Nebraska <br />If more than one person signs this mortgage, the word "I" means "we". <br />This mortgage secure: 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 • All payments on any note or other debt secured by this mortgage wi!! be paid <br />when due. <br />2. 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 />3. All taxes and assessments on the property will be paid before they become <br />delinquent. <br />4. No waste will be committed on the property, and it will be kept in good repair. <br />S. The property will not be sold (including by land contract), leased, and no <br />interest in it will be assigned in any way. <br />6. 1 own the property free and clear of any other mortgages or encumbrances <br />except: 1st Mortoave- Commercial Federal Savinos R Loan <br />7• No other mortgage or lien on the property will ever be allowed to be !n default <br />or be foreclosed. <br />If any of these promises are not kept, then Commercial can declare all of the debt <br />immediately due and payable without advance <br />19.00$ or any notice. The interest rate will increase to <br />greater rate allowable by law at that time, and this mortgage can be <br />foreclosed. If the debt is accelerated, then I also assign any rent or other income from <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 />the expenses which the law might allow if Commercial has to go to court against me to collect <br />debt or <br />II accrue interest mortgage. gsamelf rate as the5ere rest the debt then <br />nd must be'tlo <br />immediately. paid <br />If this property is ever rnndamnPd Ilnder rh® Y0,,,,,, cf �+.,i , ,� <br />method of taking property for crt ..r,.air, cr air ;;Ip,ii,*c <br />any <br />Commercial up to the full amount of tithe debt securedoceeds of the taking will be paid to <br />A, ci <br />Date r <br />STATE OF NEBRASKA <br />COUNTY OF ss. <br />and or said county, P day of ; ' 19 before me, a notary ®rsonally came. �,..,. �: Y public in <br />the identical y' <br />person or persons whose n or names are affixed to the to to be <br />above mortgage, and they, he or she severally acknowledged the said instrument and the execution thereof <br />to be their voluntary act and deed. <br />WITNESS my hand and notarial seal the day and year last above written. <br />RICHARD VAN ZYL i <br />ORAL NOlAflY. Seasselt�r. <br />VL mycertw -Up -j n 71,111! hl <br />S <br />MY commission expires•.: , , , Notary Public US� <br />7 <br />