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<br />84c-- 002976
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<br />MORTGAGE
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<br />I, William E. Arthur and Janice C, Artl]ulftereby give COMMERCIAL FEDERAL
<br />SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following property:
<br />
<br />The SDutherly Eighty one (81) feet of Lot Five (5) in Fractional Block
<br />Twenty-one (21) of Palmer'<; Subdivision of Lot Seven (7) of the County
<br />Subdivision of the SE k Sw t of Section Sixteen (16) in Township Eleven (11)
<br />North, Range Nine (9) West of the 6th P,M, in Grand Island. NE
<br />
<br />If more than one person signs this mortgage, the word "I" means "we".
<br />
<br />This tnortgage secures a ioan 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. chang.,a
<br />or replaced by a new note, it wiii stiil be secured by this mortgage,
<br />
<br />I promise the following things:
<br />
<br />1.
<br />
<br />All payments on any note or other debt secured by this mortgage will be paid
<br />when due.
<br />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 mortg;lge 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 />All taxes and assessments on the property will be paid before they become
<br />delinquent.
<br />1\10 waste will be committed on the property, and it will be kept in good repair,
<br />The property will not be sold (including by land contract), leased, and no
<br />interest in it will be assigned in any way,
<br />lawn the property free and clear of any other mortgages or encumbrances
<br />except: 1st ,1ortga"e ':ommereial Federal Savings &: Loan
<br />No other mortgage or lien on the property will ever be allowed to be in default
<br />or be roreclosed,
<br />
<br />2.
<br />
<br />3,
<br />
<br />4,
<br />5.
<br />
<br />6,
<br />
<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 wiH 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 />
<br />Certain amount.s can be patd by Commercial and added to the debt secured by this
<br />mortgage. They are any taxes or ,"surance 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 aI/ow if COmr'llercial has to go to court against me to coHect
<br />the debt or foreclose this mortgage. If any of these things happen, then the additional
<br />debt wiil accrue interest at the same rate as the rest of the debt and must be paid
<br />immediately,
<br />
<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 s8j:ured.
<br />
<br />Ll.//i4;l';" v>.; ;zrJft.t.J:./
<br />
<br />il'-v"'-' , 6ate' . ". Y'
<br />
<br />STATE OF NEBRASKA
<br />COUNTY OF
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<br />55,
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<br />On this "nu dllY of June ' 19kL-, before me, a notary public in
<br />....d. fQf'said county, pe,.son.lly came WiHi<\!)l to Arthur i. Janice C. ArtlllGrme know to be
<br />the idtntic;at ~ or persons whose name is or names are affixed to the above mortgage,
<br />.and tn-y, he or she severally acknowledged the said instrument and the execution thereot'
<br />to 1M their \Joluntary act and deed,
<br />
<br />"
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<br />WITNESS my hand alld notari..l seal the day and year last above wrItten,
<br />
<br />.L lI(:IiMO VAN IYL
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<br />.., 'T NOUlry PubliC
<br />My c~i..b)f\ .x'I).,.... /~., ~,;! ~ ! .tl~f'
<br />
<br />0,,-27
<br />PEl! 4/82
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