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MORTGAGE 83.x„ ~tf,Ot'~~~ <br />1, Galen L: RanRonin and Sara M. Pankonin hereby glue COMMERCVIALs7 FEDERAL <br />~" SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following property: <br />Lot 6; B1oek 11, College Addition to the City of brand 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 {oan. If that note is ever changed <br />or replaced by a new note, it wilt 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: _ 1st Mor~oaae-E ucLi~ble_Bulding_&_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 />19.00$ or any greater rate allowable by law at that time, and this mortgage can be <br />foreclosed. If the debt is accelerated, then f 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 Lo 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 />~ ra <br />~. ~.. <br />t f/~' ? <br />.- ~, <br />~~~__ 7 l <br />Date <br />t <br />~~ $TAl'~.QE NEBRASKA ) ss. <br />GOUN'TY OF Hki.L ) <br />On this 1$TN day of Febl"U&i^Y 19 o:i before me, a notary public in <br />and fQr said cohty, personally came~ien L. FarkUlsin ant; Sara fd. F nko~iQnme know to be <br />the- identical person or persons whose name is or names are affixed to the above mortgage, <br />artd they, he or she severally acknowledged the said instrument and the execution thereof <br />tQ be their vpiur,tary act and deed. <br />„~ 1Af1T{+IESS my hand and notarial seal the day and year last above written. <br />~~ IfilNu~tit ~ j,`z' ~ ~> <br />Iw~W~il~-N ikx~ r , , ; <br />.;Notary Public <br />t+Ay commission expires __ t~,~ .<^1~~~ <br />Y~C'l~ i:f~.: <br />