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,*SOItT.GAGE ~~- i~UE~7'%%-r I, Paul M Burks and )une 0 6urk~ hereby give COt~ELl2CZAL FEBERAL SAVINGS ~iNiD LOA,V ASSOCIATION (Commercial) a mortgage on the following property: Lot Twenty Six (26) Stock Two (2) in Continental Gardens an Adaition to the city of Grand Island, lia71 County. Nebraska. If mare than one person signs this mortgage, the word "Z" means "we." This mortgage secures a loan made by Commercial. A note dated the same date as thin mortgage contains the terms for repayment of that loan. If that note is ever changed or replaced by a new note, it will still be secured by this mortgage. I vromise the following things: 1. All payments on any note or other debt secured by this mortgage will be void w::an due.. 2. An insurance policy for fire and extended coverage will be kept in force on the property in an amount at least equal to the debts secured by this mortgage plus any other mortgages listed in paragraph 6. The insurance company must be satisfactory to Commercial, and Commercial will be a named insured on the policy. 3. All taxes and assessments on the property will be paid before they become delinquent. 4. No waste will be committed an the property, and it will be kept in good repair. 5. The property will not be sold (including by land contract), leased, and no interest in it will be assigned in any way. b. I own the property free and clear of any other mortgages or encumbrances except Corwaerciai Federal-Savings & Loan Association 7. No other mortgage or lien on the property will ever be allowed to be is default or be foreclosed. If any of these promises are not kept, then Commercial can declare all of the debt immediately due and vayable without advance notice. The interest rate will increase to 19.00X, and this mortgage can be foreclosed. If the debt is acceler- ated, then I also assign any rent or other income from the property to Commercial. Certain amounts can be paid by Commercial and added to the debt secured by this mortgage. They are any taxes or insurance I have agreed to pay but fail to, nay attorney fees or court expenses Commercial pays if it is made a party to any legal action brought by someone else concerning the property, and any attorney fees or court expenses which the law might allow if Commercial has to go to court against me to collect the debt or foreclose this mortgage. If any of these things happen, then the additional debt will accrue interest at the same rate as the rest of the debt and must be paid immediately. If this property is ever condemned under the power of eminent domain or any simi- lar method. of taking property for public use, any proceeds of the taking will be paid to Commercial, up to the full amount of the deb'flsecured. ~; r ~ ,.. , ~, ~ e -~ -3 ~ .,c,.. - Paul M. Burks u Date June G. Burks ``STATE OF NE$RASRA } ss ' CO~SIiTY OF HALL } On this 24th day of February 19~~,, before me, a notary public in and for said county, versonally came n 1 u c~ ~ Jun! i7 Burks to me known Co be the identical person or persons whose name. is or names are afrixed9 to the above mortgage, and they, he or she severally acknowledged the said iastru- meri;t and the execution thereof to be their voluntary act and deed. ~3ITNESS my hand and notarial seal the day and ,veer last above written. 'raicrw+arin-run wrati.w RiCiiJlitD Wti1. FYL ~'~ _- r`... MvGomrt.Ew.a«r..is.SUn. ~ .~` \Ctoi"l ,sblic •'iY caxmaissio:~ expires _ ~ ____ :- i~,:7