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l <br />MORTGAGE 85— 004428 <br />I, hereby give COMMERCIAL FEDERAL <br />SAVINGS AN LOAW ASSOCIATIO Commer ciaI7 a mortgage on the following property: <br />The Southerly Thirty Nine and Eight Tenths Feet (S39.8') of Lot Seven (7) and the <br />Northerly Twenty Six and Four Tenths Feet (N26.0) of Lot Eight (8) in Block Eleven (11) <br />in West Park Addition of the City of Grand Island, Halt 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 />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 the property free and clear of any other mortgages or encumbrances <br />except: <br />7. No other mortgage o lien on t e property wi ever telp 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 />19.00% 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. <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 debt secured. <br />`� " / /�" !� � - l �'� /�� h •�f- • 1'�/ a -^. <br />Date <br />STATE OF NEBRASKA } <br />COUNTY OF Hall <br />On this 11th day of September , 19 85 , before me, a notary public in <br />and for said county, personally cameDouglas F. 8 aarrolyn L. Lees , to me know to be <br />the identical person or persons whole name is or names are affixed to the above mortgage, <br />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 ZYt <br />OL MtCRReaw,.ft,NSa Notary - public <br />My commission expires ^ i'�:• <br />'T <br />W, <br />