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_. __ f _. MORTGAGE $`L._.. t}Ue3UU ;, Klliam E. Arthur'and Janice C._Arthur , heceoy give COMMERCIAL FEDERAi_ SAVINGS AND LOAN ASSOCIATION (Commercial} a mortgage-on the following property: The Southerly Eighty Onb (81)'feet of Lot Five. (5) io'Fractional Block Twenty-one (21) of Palmer's Subdivision'of Lot'-Seven (7) of ±he County Subdivision of the SE 1/4 Sx 1/+~ of Section Sixteen (16) in Toxnship Eleven (11) North, Range Nine C9) xeat of the 6th P. M, in Grand Island, Nehr. if more than one person signs this mortgage; the word °I" means "ire". This mortgage secures a loan- made' by Commercial:. A note dated the same date as this mortgage contaihs the terms for repayment of that 'loan. 9f that note is ever changed or replaced by a new ndte, it will `still be secured) by this mortgage. t `promise: the following- things: '1. All payments on 'any Hate ar other debt secured by,' this mortgage will be paid when due. 2: An insurahce policy for fire and extended coverage,wili be kept in force on the property in an amourt 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 GommerCial, and Commercial tiviil be a named insured on the policy. 3. All _taxes' and assessments on the property will be paid before they becorne delinquent. -7. lVo waste will be committed an'the prdperty, :and it'will be kept in good repair. $; T~Se property will not'be sold' (including by land contract), leased, and no interest in it wilt: be assigned an any- way. 6. I 'own the.. property free and clear of any ocher mortgages or encumbrances except: Cosrmercial Federal Savn¢s 6 Loan 7: No other'mortgag~ or .lien on the property toil! ever be allowed tc be in default or'be foreC"toned. tf any of these promises are naL kept, then Commerciat: can declare afl of the debt immediately ..due and payable without advance notiee. The interest rate wi1J increase to 19.40$ or any greater rate allowable by law at that time, and this mortgage can be foreclosed! Pf the debt is, accelerated; then i also assign any rent or other income from the property tp r: ommercial.' Certain amounts can be paid by-Commerciat and added to the. debt secured .by th~,s mortgage. They, are any.'taxea 'or insurahce I Kaye agreed *.c -pay but fail ,te, any attorney fees or court expenses Commercial pays if it -is made a party to any legs) action brought by', someone else, concerning. the property, ono :any attorney ..fees or court exper3ses which the law might allow if Commercial has: to go Lo court against me to collect the debt or foreclose this mortgage, If 'any of these hings-;happen, then >the additionel. debt .will accrue Fnterest at ine same! rate as the rest of the aebt and must be-paid immediately. 1f this `property is :ever condemned under the power of eminent domain or any similar method of taking- property for public use, any proceeds of the. taking will be paid to Commercial up *.e 'he full amount of the debt se~ured. (~ F 1 y '~ July 13, 1982 ~~' ~~ }--.dom.=. -~-= ~~ ~~ ~4,?'~d~ r s Uate ~ : - STATE ~F NEt3RASi{R ) ~'/~ COUNTY ^F l{r4+,L. ~ ss. On this 13th day o` July '19 82 ber'ore-me, A Potary puolic in aria `or said county, personally Came Ail' m E. Arthur nd ,Janice C. ~ die know to be the iderst`.ca! Gerson cr persons whose. name '.s o,r names are affixed' to the above. mortgage;. and 'hey. ^e cr- sr.e s~ver3yly acknowledged .the said instrument and the execut;on thereof to be their v~~i~ ta; v ac*. an" deed. L4~TiJt55 m'v' hand ar,d notaria3 seal?he day and, year east abo+.e written_ aeK,-w vow rn ~ t Wr~.~mtt,e Mt Nriary s'u~:'c ?.iy ~~ ~-~;~.is'on e=-p%"s 1, ~..?:::, r.rT.^~+