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84 ""' 001~8J <br />MORTGAGE <br />i Brent T. Ray and Sharon L. Ray hereby give COMMERCIAL FEDERAL <br />SAVINGS ANO r_OAN ASSOCIATION (Commercial) a mortgage on the following property: <br />Lot Seven (7}, in Block One (l), in "Capital heights Subdivision", BBittg <br />a part of the Southeast Quarter of the Southwest quarter (SE$SW~) of <br />Section Ttco (2}, in Township Eleven (12} North, Range Ten (10) Sleet of <br />the 6th P.34., Hall Couaty, Nebraska <br />!f mare than one person signs this mortgage, the word "I" means "we". <br />This mortgage secures a loan made by Commerriai. A note dated the sama> date- as <br />this mortgage contains the terms far repayment of that loan. If that note is ever dhanged <br />ar replaced by a new note, it will still be secured by this mortgage. <br />r promise the following things: <br />1. Rlf payments an any Hate or other debt secured by this mortgage will be paid: <br />when due. <br />2. An insurance policy for fire and extended coverage will be kept. in force on the <br />property in an amount at [east equal to the debts secured by this mortgage-.plus. <br />any other mortgages listed in paragraph 6. The insurance company must b'e <br />satisfactory to %.ommerciai. and Commercial will be a named insured- on th'e <br />policy. <br />3. Ait taxes and assessments on the property wiH be paid before they become <br />delinquent. <br />G. Na waste will be committed on the property, and it will be kept in good repair. <br />5. The property wits not be sold (including by land contract), leased, and- no <br />interest in it will tee assigned in any way. <br />6. I awn the property free and clear of any other mortgages or encumbrances <br />except: 1 ~~- J<~rteas;z~-Cnrnrrr, repai FedeaT•at Stavings R Loan <br />7. No other mortgage or lien on [he property will ever be allowed to be in default <br />or be foreclosed. <br />if any of these pramrses are Hat Kept, then Commercial can dectare all of the debt <br />immediately due and payable wrihouE advance natlce. The interest rate will increase to <br />19.QO$ ar any greater rate allowable by law at that time, and this mortgage can be <br />foreclosed. tf the debt fs accelerated, then ! also assign any rent or ether income from <br />the property to Commercial. <br />Certain amounts can be paid by Commercial and added to the debE secured by this <br />mortgage. They are any taxes or insurance t have agreed to pay but fail ta, 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 mighE allow if ComrnerCiai has to ga to court against me to coifed <br />the debt or foreclose this mortgage. tf 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 Caking property far public use, any proceeds of the taking wits be paid to <br />Commercial up to the full amount of the debt secured. <br />~~ <br />_ ` <~:~ <br />/ Y ~ <br />Clata <br />STATE OF NEBRASKA } <br />C:Ot1NTY CIF S3' <br />f)n this ,, -, .qy , <br />•,~.~ day of ,,~~t~C 19 ` ~` before ;ne, a nolary public in <br />and for said county; personally came ~.:.; ~ tAx =. ..A,,,~„W ,r,;g,. to me xnow to oe <br />thesdentieal person or persons whose name is ar names are affixed to the above mortgage, <br />itftd they, ne or she severally acknowledged Lne said instrument and the execution thereof <br />tt! bt tt+err voluntary act and deed. <br />WITNESS my hand ~an#~n~o~ariat seal the day and year fast above written. <br />t'#KisW.rNiTA1tT-iNr~dt4k~r, ,,' _ .. .. . <br />WCw~.tw~Hn.2Lt4ai / , .. <br />ary ~~ub1iC <br />t~ty commissron expire3 yT,°^ -~a',, <br /> <br />