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MORTGAGE 85, 0054 ?7 <br />1� Donald V. Nelson and Evelyn I Nelson hereby give COMMERCIAL FEDERAL <br />SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following property: <br />11 The East z of Lot 2 and the North 17' of the East 12 of Lot 4, Block 20 Scarff's Addition <br />L <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 />5. 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: Adninistratnr of Vptprans Affairs <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 />19.00% 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 <br />be paid by Commercial <br />and <br />.added to the debt secured by this <br />mortgage. They are any <br />taxes or insurance I <br />have agreed to pay but fail to, any <br />attorney fees or court expenses <br />Commercial pays <br />if it <br />is made a party to any !egal action <br />brought by someone else <br />concerning the property, <br />and any attorney fees or court <br />expenses which the law might <br />allow if Commercial <br />has <br />to go to court against me to collect <br />the debt or foreclose this <br />mortgage. If any of <br />these <br />things happen, then the additional <br />debt will accrue interest <br />at the same rate as <br />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 />Date <br />STATE OF NEBRASKA <br />COUNTY OF ) <br />On this -; day of _, 19 --� ti , before me, a notary public in <br />and for said county, personally came 1) u<ry..v. � 1_.r ��g4 r!,—t,,), to me know to be <br />the identical person or persons whose 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 M <br />�O"ALNOTARY•SimuorN�br. <br />MYCOM.&P -. a.2tir" Wb ry Public <br />My commission expires, <br />C:. <br />4 'sa <br />n <br />