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MORTGAGE <br />I, Douglas K. Poland b. Marie E. Poland 5® 003050 <br />SAVINGS AND LOAN ASSOCIATION Commerciad? a mortgage give <br />themMfol CIAL FEDERAL <br />Lot 7, Block 2, Hickey Third Subdivision, City of Grand Island, Nall County, Nebraska <br />If more than one person signs this mortgage, the word 111" means "we". <br />This mortgage SOCures 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 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 />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 t.'te property free and clear of any other mortgages or encumbrances <br />except: Tower Financial, Inc, <br />7 No other mortgage or lien on the property <br />or be foreclosed. will ever be allowed to be in default <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 wiil increase to <br />19-00% 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.g <br />Certain amounts can be <br />mortgage. The paid by Commercial and added to the debt secured by this <br />Y are any taxes or insurance I have agreed to <br />attorney fees or court expenses Commercial Pay but fail to, any <br />brought by Someone else concerning the property, it is made a party to any legal action <br />expenses which the law might allow if Commercial has to go to court against me to collect <br />P y, and any attorney fees or court <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 <br />immediately. <br />paid <br />If this property is ever condemned under the Power of method of taking Property for y Proceeds of�t'hentak taking domain <br />willlr any be Public <br />aid to <br />C rcial up to the full amount of the debt secured. <br />P <br />I <br />