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<br />MORTGf,~:,F ~°Z._ i}tr4433 <br />t, David R. C t I:ereby give COMMERCIAL FEDERAL <br />SAVINGS AND LOAN ASSOCIAT ON Commercial) a mortgage on the following property: <br />Lot Eleven (ll) in Block Two (2) in Lambert's Second Addition to the City of-Grand Island <br />Nall Gaunty, Nebraska. <br />If-more than one person signs this mortgage, the word "I" means "we". <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 />I promise the following things: <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 wilt be kept in farce on the <br />property in an amount at least equal to the debts secured by this mortgage plus <br />any oEher mortgages listed in paragraph 6. The insurance company must be <br />satisfactory to Commercial, and Commerdal will be a named insured on the <br />paiicy. <br />3. Ali taxes and assessments on the property will be paid before they become <br />delinquent. <br />a. No waste will be committed on the preperty, and it wiii be kept in good repair. <br />5. The property will not be sold ;including by land contract), leased, and no <br />interest in iL will be assigned in any way. <br />6. i awn the property free and clear of any tither mortgages or encumbrances <br />except: Commercial Federal ~avinas 8 Loan <br />7. No other mortgage or lien on Lhe property wril ever be allowed to be rn default <br />or be foreclosed. <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 :merest rate will increase to <br />19.40$ or any greater rate allowable oy taw at that time, and this mortgage can be <br />foreclosed. If the debt is accelerated, then l also assign any rent or other income from <br />Lhe property to Commercial. <br />Certain amounts can be paid by Commercial and added to the debt secured by this <br />mortgage. They are any taxes or insurance t have agreed to pay but fail to, any <br />attorney fees or court expenses Commercial pays ~f ii is made a party to any legal action <br />brought by so+neone else concerning the property, and any attorney fees or court <br />expenses which the taw Wright allow it Commercial Was to go to court against me is collect <br />the debt or foreclose this mortgage. tf any of these things happen, then the additianai <br />debt wil{ accrue interest at T.he same rate as the rest of the debt and must be paid <br />immed isleiy . <br />if this property is ewer conaemned under the power of eminent domain or any similar <br />mnthod of taking property for public use, any proceeds of the taking wiii be paid to <br />Commercial up to Lhe ful{ amoun[ of the dent secured. <br />t~. ~~ <br />y~° `4° <br />Dace <br />STATE OF NEBRASKA ) <br />CQtINTY GF iiALI. ~ ss, <br />On this 8th day of ?ctober '.9~~, before me, -utary public in <br />jr'it! far said Gaunty: per'.44ni3ity came !~v~ R= %uttin~ ~: onci C= Cuttu,t~ a ^ae !cnow to be <br />the identical parson. or persons w;?ose ..^.ame is cr~names are a~=.<ed to the asaove mortgage: <br />acrd they, he or she severally acknowledged the saidsnsirument and ttre e:~ecution thereof <br />to be their votuntary act and deed. <br />WiTNrSS my hand ar{d notarial seal the day and ~e8r ?asi above written. <br />+ ~ <br />s44er~.t~,Yt.tNw r tarn' ~uGS~c <br />icy t;.tar~Nriissior+ aMpires --;_-' - - f.. <br />~r <br />~ ~. <br />