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<br />MORTGAGE
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<br />84 - 002738
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<br />I, Larry J, Rollins & Kathryn A, Rollins, hereby give COMMERCIAL FEDERAL
<br />SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following property:
<br />
<br />The Easterly Forty Feet (E40') of Lot Eighty (80) and the Westerly Thirty
<br />Feet (W30') of Lot Eighty One in Wolfe's Subdivision in the City of Grand
<br />Island, Hall County, Nebraska,
<br />
<br />If more than one person signs this mortgage, the word ;0 1;0 means "we",
<br />
<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 />
<br />I promise the following things:
<br />
<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, thee:
<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 repai,!'",
<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, I own the property free and clear of any other mortgages or encumbrances ~1!
<br />except: Commercial Federal Savings & Loan . . f
<br />7. No other mortgage or lien on the property will ever be allowed to be in default ~
<br />or be foreclosed,
<br />
<br />If any of these promises are not kept, then Commercial can declare all of the, dE!bt
<br />immediately due and payable without advance notice. The interest rate will incre~~e.t? ~!,
<br />19.00% or any greater rate allowable by law at that time, and this mortgag~.ca.nl:ll!\ f
<br />foreclosed, If the debt is accelerated, then I also assign any rent or othe.r income"froriiC:~
<br />the property to Commercial. .
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<br />Certain amounts can be paid by Commercial and added to the debt securedby:th,is'.
<br />mortgage, They are any taxes or insurance I have agreed to pay but fail tOr, arW',
<br />attorney fees or court expenses Commercial pays if it is made a party to any legalactij:ln"
<br />brought by someone else concerning the property, and any attorney fees or.cO,prt,
<br />expenses which the law might allow if Commercial has to go to court againstmeto,cQlt~;J:;"
<br />the debt or foreclose this mortgage. If any of these things happen, then tt:lead.dJtio,nak
<br />debt will accrue interest at the same rate as the rest of the debt and. mustbe"p:iii'i:l!
<br />immediately . ~
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<br />If this property is ever condemned under the power of eminent domain or any simi.liI!,:
<br />method of taking property for public use, any proceeds of the taking willbE!paid.:JQ:.'
<br />Commercial up to the fuil amount of the debt secured,' .'
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<br />Date
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<br />STATE OF NEBRASKA
<br />COUNTY OF HALL
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<br />~J
<br />A" 'Y
<br />(/
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<br />ss,
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<br />On this 18th day of May
<br />and for said county, personally came Larry J,
<br />the identical person or persons whose name is or
<br />and they, he or she severally acknowledged the
<br />to be their' voluntary act and deed,
<br />
<br />19 84, before me, a notary public in
<br />RoITTiiS & Kathryn fI,td'l~~w to be
<br />names are affixed to the above mortgage,
<br />said instrument and the execution thereof
<br />
<br />WITNESS my hand and notarial seal the day and year' last above written,
<br />
<br />.L RICHARD VAN ZYL
<br />GINDAlNOrARY. S,...of_,
<br />. My Convn, lap. Jon, JL 191.
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<br />My commission expires ~ ;-";> />t/<.-4~'-/
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<br />~'. otar"y Public
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