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IN <br />MORTGAGE 85--002190 <br />1, Marvin F. Luebbe and Martha Luebbe hereby give COMMERCIAL FEDERAL <br />SAVINGS AND LOAN ASSOCIATION Commercial) a mortgage on the following property: <br />A tract of Land Comprising the Southerly Sixteen (16) feet of Lot Seven (7) and the <br />Northerly Forty Four (44) Feet of Lot Eight (8) in Block Thirteen (13) West Park Addition <br />as Addition to the City of Grand Island, Nall 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 <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 />I. All payments on any note or other debt secured by this mortgage will 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 />- 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. I own the property free and clear of any other mortgages or encumbrances <br />except: Ist Mort2a e Commercial Federal Savings & Loan <br />7. No other mortgage or lien on the property will ever be allowed to be in 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 notice. The interest rate will increase to <br />19. or any 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 />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 />imm,ediately. <br />*,7" 4 9 <br />