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<br />MORTGAGE 84.'- 004805
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<br />I, Marvin F. and Martha Luebbe , hereby give COMMERCIAL FEDERAL
<br />SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following proper:ty:
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<br />Legal Description: A Tract of Land Comprising the Southerly Sixteen(l6) Feet
<br />of Lot Seven( 7), and the Northerly Forty-Four(44' Feet of
<br />Lot Eight(8). in Block Tjirteen(13), West Park Addition"
<br />an Addition to the City of Grand Island, Hall County, Nebraska.
<br />
<br />If more than one person signs this mortgage, the word "I" means "we;'.
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<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,
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<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 bapaid:'
<br />when due.
<br />2, An insurance policy for fire and extended coverage will be kept in forceoncthec
<br />property in an amount at least equal to the debts secuNldby thismortgagepfuSc:
<br />any other mortgages listed in paragraph 6, The insurance companymus:t'j;):8'
<br />satisfactory to Commercial, and Commercial will be a named insul"e(L on the,
<br />policy,
<br />3. All taxes and assessments on the prope"ty will be paid before they
<br />delinquent.
<br />4, No waste will be committed on the p, $rty, am.i it will be kept in900d
<br />5. The property will not be sold (including by land contract), leased, and>ho
<br />interest in it will be assigned in any way,
<br />6. I own the property frae and clear of any other mortgages or encumbr.nces
<br />except: Corrrnercial Federal SavinQs and Loan
<br />7, No other mortgage or lien on the property will ever be allowed to be in default
<br />or be foreclosed,
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<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, I f the debt is accelerated, then I al so assign any rent or other income from
<br />the property to Commercial.
<br />
<br />Certain amounts can be paid by Commercial and added to the debt secured by this
<br />mortgage. They ere any taxes or insurance ! hav9 agreed to pay but_ faU to.. any
<br />attorney fees or court expenses Commercial pays if it is made a party to any legal Ktl(ln
<br />brought by someone else concerning the property, and any attorney fees or court
<br />expenses which the law might allow jf Commercial 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 will accrue inte,'est at the same r-ate as the rest of the debt and must be paid
<br />immediately,
<br />
<br />If this prop.wty ;s 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.
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<br />9/8/84
<br />Date
<br />STATE OF NEBRASKA
<br />COUNTY OF ria 11
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<br />On this 81;h day of Spptpmhpr, 19~, Defore me, a notary public in
<br />and fOI" said county, personally came Milrvin And M;'\rtha III~hh" ,to me know to be
<br />thedidentkal person or persons whose name is or names are af ixed to the above mortgage,
<br />and they, he or she .severally acknowledged the said instrument and the execution thereof
<br />to,o. their voluntary act and deed,
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<br />WITNESS my hand and notarial seal the day and year, last above wr!nen,
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<br />My commiuiofl expire5-
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<br />March :10, 1985
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