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<br />84 ---""' 005608
<br />MORTGAGE
<br />
<br />I, V10let M, and NormaTl J, '1cVay , hereby give COMMERCIAL FEDERAL
<br />SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the followir,g property:
<br />
<br />Legal Description: Lot Seven(7), Block Nine(9), in University Place
<br />Addition, an Addition to the City of Grand Island,
<br />Hall County, Nebraska,
<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:
<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 the
<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 proDer' '.', and it will be kept in good repair;
<br />5, The property will not be sold (in-:I" >J by 12nd contract), leased, and no
<br />interest in it will be assign~d in any ...."l"
<br />6. I own the property free and clear of any other mortgages or encumbrances
<br />except: Norwest Financial
<br />7, No other mortgage or lien on the property will ever be allowed to be in default
<br />or be foreclosed,
<br />
<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 will 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 />
<br />Certain amounts can be paid by Commercial and added to the debt secured by this
<br />mortgage, They at'e 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 law might allow if Commercial has to go to court against me to collect
<br />the debt or foreclose this mortgage, If 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 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 secured.
<br />
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<br />10/19/84
<br />Date
<br />
<br />STATE OF NEBRASKA
<br />COUNTY OF Hall
<br />
<br />/i r'C ')I: :0;1</'// L ! (~~;/
<br />
<br />ss,
<br />
<br />On this 19th day of October ,19~, before me, a notary public in
<br />and for said county, personally came Vi 01 pt ilod NormilO r.kVil~ ' to me know to be
<br />the identical 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 be their voluntary act and deed,
<br />
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<br />abo\(,e written,
<br />
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<br />
<br />WITNESS my hand and notarial seal the day and ye~r last
<br />
<br />Notary Public
<br />
<br />My commission expires
<br />
<br />March 30, ]985
<br />
<br />"
<br />~ TIMOTHY (;, MlllTTl
<br />GENERAL NO I ARY ".... '" .-r",..
<br />~~ My (oml'l1.. ho. Moil. 3Q, 1985
<br />
<br />C1,-27
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