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<br /> '/ 000045 —
<br /> " EXTENSION AGREEMENT
<br /> In consideration of the extension of the time of payment of the original
<br /> promissory note hereinafter described, the undersigned, Grand Island School of •
<br />,e1777 Business, Inc., a State of Nebraska Corporation, hereby covenants and agrees
<br /> C;','1; -'. to: pay to.The First National Bank of Grand Island, Grand Island, Nebraska, or
<br /> order, the principal sum of FIFTY THOUSAND AND NO/100 DOLLARS ($50,000.00),
<br /> together with interest thereon at Ten Per Cent (10%) per annum from the date
<br /> hereof,: such sum to be payable on September 30, 1976. •
<br />'1 The originalprincipal nate in the amount of TWO HUNDRED TWO THOUSAND THREE.
<br /> HUNDRED FIFTY-SIX AND 32/100 ($202,356.32) was executed and delivered by the .
<br /> undersigned under the date of October 7, 1975, to The First National Bank of
<br /> ^Grand Island, Grand Island, Nebraska, and was due and payable on the 30th day
<br /> I1. ..:::':::.". rn Io£ September, 1976, together with interest at Ten Per Cent (10%) per annum, of
<br /> 2which there has accrued. $4,712.40 interest to this date. This note was secured
<br /> by a real estate mortgage to The First National Bank of Grand Island, Grand Island,
<br /> >Nebraska, recorded in Book 171, at Page 291 of the Mortgage Records of Hall County,
<br /> =Nebraska.
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<br /> 0717,The undersigned agrees to pay such extended balance of FIFTY THOUSAND AND_NO/100
<br /> ' � :: -DOLLARS ($50,000.00) with interest at Ten Per Cent (10%) per annum, such principal
<br /> �, . 4 : Tand interest to be payable in lawful money of the United States of America at The
<br /> ' ` First National Bank of Grand Island, Grand Island, Nebraska.
<br /> °All of the covenants and agreements in such original note and the Real Estate
<br /> , tMortgage above described, other than hereinbefore modified, shall be and remain
<br /> .unchanged and in full force and effect during such extended period. If default
<br /> a ?t be made in payment of any yearly installment hereunder, or any part thereof, the
<br /> ' - 1 whole principal sum, with interest thereon, shall immediately become due and payable
<br /> ` 0 s at the election of the legal holder thereof.
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<br /> n In further consideration of such extension of time of payment of such indebtedness, •
<br /> „ we _hereby ratify and confirm such mortgage recorded in Book 171 of Mortgages at
<br /> x 2 Page 291 of the Real Estate Mortgage records of Hall County, Nebraska, as the first
<br /> mortgage lien upon the real property described therein and the whole of the title
<br /> thereto as now owned by us subject to a first mortgage of record to the First Federal
<br /> ” Savings and Loan Association of Lincoln, Nebraska.
<br /> 4:, _ The undersigned executes this Extension Agreement with reference to and on the
<br /> : G- faith and credit of their property, which they now own or have an interest in or
<br /> -o hereafter may acquire; the express intention being to charge and to continue to
<br /> charge any and all of such property with the payment of the indebtedness, the
<br />(" payment of which is herein extended.
<br /> a IN WITNESS WHEREOF, the undersigned have hereunto set their hands this 31st day of
<br /> December, 1975. -
<br /> GRAND ISLAND SCHOOL_OF BUSINESS, INC.
<br /> c;'
<br /> By - . T. L �
<br /> T. Placzek, President
<br />} By z'./ .-V2,,i� _ .4;./„, ti/{//_^F.
<br /> Oscat G. Mauer, Vice President
<br /> STATE OF NEBRASKA ) -
<br /> ) SS.
<br /> ' COUNTY OF HALL )
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<br /> On this 31st day of December, 1975, before me, the undersigned, a Notary Public in •
<br /> and for said County , personally came E. T. Placzek, President, and Oscar G. Mueller,
<br /> Vice President of-the Grand Island School of Business, Inc., a State of Nebraska
<br /> Corporation.,- to me personally known to be the identical persons whose names are
<br /> of s..: the above Extension Agreement and acknowledged the execution thereof to • -
<br /> fiei4A, ›_.tary acts and deeds as such officers, and the voluntary act and deed
<br /> '•q %tion.
<br /> t , % Ik tafid .' d Notarial Seal at Grand Island .Nebraska, in said County the day
<br /> !..^,- 5.4,y as$ e written. ( , �. .•
<br /> i �Sn��sis`i pires :. P. / / ��.,Ll1i/, -•4,' ;Zt�s-.cG.z.-..,, L''''
<br /> N,T,OF FiEg�R Notary Public
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