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<br />, 7•6-00004.,
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<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 /> Business,. Inc., a State of Nebraska Corporation, hereby covenants and agrees to
<br /> pay to The First National Bank of Grand Island, Grand Island, Nebraska, or order,
<br /> the principal sum of ONE HUNDRED FIFTY-SEVEN THOUSAND SIXTY-EIGHT AND 72/100
<br /> DOLLARS ($157,068.72), together with interest thereon at Ten Per Cent (10%) per
<br />'.5 annum from the date heueoi, such sum to be payable on January 10, 1977. Interest
<br /> F.,. shall be payable on September 30, 1976 and on maturity of January 10, 1977.
<br /> The principal amount of this note represents a proportionate amount or
<br /> ONE HUNDRED FIFTY-TWO THOUSAND THREE HUNDRED FIFTY-SIX AND 32/100 DOLLARS ($152,356.32)
<br /> of the original principal note in the amount of TWO HUNDRED TWO THOUSAND THREE HUNDRED -
<br /> FIFTY-SIX AND 32/100 DOLLARS ($202,356.32), dated October 7, 1975, plus interest to
<br /> date of $4,712.40, for a total amount of ONE HUNDRED FIFTY-SEVEN THOUSAND SIXTY-EIGHT
<br /> - AND 72/100 DOLLARS ($157,068.72).
<br /> m — .
<br /> 4 c The original principal note in the a'ount of TWO HUNDRED TWO THOUSAND THREE HUNDRED
<br /> 1 FIFTY-SIX AND 32/100 DOLLARS ($202,356.32) was executed and delivered by the under-
<br /> signed under the date of October 7, 1975, to The First National Bank of Grand Island, •
<br /> p o Grand Island, Nebraska, and was due and payable on the 30th day of September, 1976,
<br /> together with interest at Ten Per Cent (10%) per annum, of which there has accrued
<br /> rt. $4,712.40 interest to this date. This note was secured by a real estate mortgage to
<br /> c . The First National Bank of Grand Island, Grand Island, Nebraska, recorded in Book 171, ,
<br /> .3 at Page 291 of the Mortgage Records of Hall County, Nebraska.
<br /> d ' u
<br /> j The undersigned agrees to pay such extended balance of principal of ONE HUNDRED FIFTY-
<br /> SEVEN THOUSAND SIXTY-EIGHT AND 72/100 DOLLARS ($157,068.72), together with interest
<br /> °= thereon at Ten Per Cent (10%) per annum; such principal and interest to be payable
<br /> c -E in lawful money of the United States of America at The First National Bank of Grand
<br /> tc Island, Grand Island, Nebraska.
<br /> ' E `'_ All of the covenants and agreements in such original note and the Real Estate
<br /> Mortgage above described, other than hereinbefore modified, shall be and remain
<br /> unchanged and in full force and effect during such extended period. If default be
<br /> a made in payment of any yearly installment hereunder, or any part thereof, the whole
<br /> principal sum, with interest thereon, shall immediately become due and payable at
<br /> the election of the legal holder thereof.
<br />,-[ In further consideration of such extension of time of payment of such indebtedness,
<br /> c n we hereby ratify and confirm such mortgage recorded in Book 171 of Mortgages at
<br /> c Page 291 of the Real Estate Mortgage records of Hall County, Nebraska, as the first
<br /> a 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 /> o Savings and Loan Association of Lincoln, Nebraska.
<br /> E
<br /> r_ m The undersigned executes this Extension Agreement with reference to and on the faith
<br /> and credit of their property, which they now own or have an interest in or hereafter
<br /> may acquire; the express intention being to charge and to continue to charge any and
<br /> all of such property with the payment of the indebtedness, the payment of which is
<br /> herein extended.
<br /> IN WITNESS WHEREOF, the undersigned have hereunto set their hands this 31st day of
<br /> December, 1975.
<br /> GRAND ISLAND SCHOAIf OF BUSINESS, INC.
<br /> By a. J \ -1_.G`
<br /> T. Placzek,l! President
<br /> C:-.. By 47 'IL e..c'c.ci —<-'7,„4.:4-.6,1' GNU
<br /> Oscar G. Mueller, Vice President
<br /> �r STATE OF NEBRASKA )
<br /> ) SS.
<br /> s _ COUNTY OF HALL. )
<br /> A
<br />* ...„1:—..-.. ,z,
<br /> . ,�3lst day of December, 1975, before me, the undersigned, a Notary Public
<br /> ',, said County, personally came E. T. Placzek, President, and Oscar G.
<br /> `"�`` FA, . :1141/741,K19,! -e
<br /> -e President, of the Grand Island School of Business, Inc. , a State
<br /> Z, 4r .%f Nebf'& a',�orporation, to me personally known to be the identical persons whose
<br /> •< c �Et=a�, ixed to the above xtensiondAgreement and acknowledged the execution LI'
<br /> •
<br /> a 'Eev •y.ltheir voluntary acts and deeds as such officers, and the voluntary
<br /> < ct an4./ear'of said Corporation.
<br /> ,,+I��lgr�d�ytlb :•<�`ar lastand
<br /> above writ en Seal at Grand ZSland, Nebraska, in said County the
<br /> Lie.... ,
<br /> ,,�'"'. Notary Public
<br /> • fission expires f_' "!;'� t
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