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<br />MORTGAGE
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<br />84 ~ 00434;)
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<br />I, In''k W I.illihrirl\l"p. ill Rl]p.n I Lillib,ril'MrebY give COMMERCIAL FEDERAL
<br />SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following property:
<br />
<br />The Southerly 50' of Fractional Lots I & 2 in Fractional Block 5 in Wallichs
<br />addition to the City of Grand Island Hall County Nebraska being a
<br />rectangular tract of ground having an easterly frontage of 50' on
<br />Washington Street in said city and a depth of 105.6 feet and bounded on the
<br />South by the alley in said block.
<br />
<br />If more than one person signs this mortgage, the word "I" 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:
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<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 mortgageplOs
<br />any other mortgages listed in paragraph 6. The insurance company must be
<br />satisfactory to Commercial, and Commercial will be a named insured oh the
<br />policy,
<br />3, All taxes and assessments on the propert\ will be paid before they
<br />delinquent.
<br />4. No waste wi!! be committed on th~ prope:'!.-r I and It will be kept in good rep.~ir:
<br />5, The property will not be sold (including by land contractL leased, and.n.ll
<br />interest in it will be assigned in any way.
<br />6, lawn the property free and clear of any clther mortgages or encumbranc~s:
<br />except: Horne Federal Savings & Loan Assoc,
<br />7, No other mortgage or lien on the property will ever be allowed to be in default
<br />or be foreclosed,
<br />
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<br />I f any of these promises are not kept. then Commercial can declare all of the debt'
<br />immediatelY due and Davable without advance notice. The interest rate will increase:,tO
<br />19,00% or any great~r '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 froll\'
<br />the property to Commercial,
<br />
<br />Certain amounts can be paid by Commercial and added to the debt secur.ed 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 !aw might allow if Commercial has to go to court against me to collect
<br />the debt or foreclose thIS mortgage, !f 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 />
<br />If this propet'ty is evel' condemned under the power of eminent domain Or any similar
<br />method of taking proper-tv for public use, any proceeds of the taking will be paid to
<br />Commercial up to the full amount of the d~t secured.
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<br />Date
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<br />STATE OF NEBRASKA
<br />COUNTY OF HALL
<br />
<br />ss.
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<br />On this 'Ith day of ;\ugust ,19 84 . before me, a notary PLiblic in
<br />and for- said county, personally came .Tack W, LJ lTIl)'l-1dge & Ell e)l tb, lnP i1tji,awiflj;lbe
<br />the identical Qerson 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,
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<br />WiTNESS my hand "r1d notarial seal the day and vear last aoove written,
<br />
<br />, RICHARD 'VAN Z Yl
<br />_,I\... OfNllAlNOfAi'j'~~bl"j)f~
<br />C",.. _ t M,yCOfb$.bp.,,*^.;U,1f'.
<br />My c.om!ThS$H:)r) expires
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<br />Nota~s'/ Public
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<br />{E\' -t 82
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