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<br /> . 76- 004507
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<br /> � ME�40RANDUM OF AGREEMENT
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<br /> � TNIS AGREEI4ENT entered into as of July 31, 1976, by and
<br /> ;i between TNELMA RASMUSSEN, as surviving joint tenant of a joint
<br /> 3� tenancy between Roy Rasmussen and Thelma Rasmussen, hereinafter
<br /> '� called "SELLER," and REX OTTO, LYLE A. FISHER, and E. D[AN WOLFE,
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<br /> hereinafter called "GUARANTORS."
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<br /> '� WHEREAS, on or about December 20, 1968, Home Trade Corp. ,
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<br /> � a Nebraska corporation, executed its Promissory Note to said
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<br /> {� Seller, secured by a mortgage on Lots One (1) , T�•ro (2) , Three (3),
<br /> x' Four (4), Five (5) and the Easterly Two Hundred Sixty (260) feet of
<br /> � Lot Six (6), ldoodland first Subdivision, an Addition to the City
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<br /> � of Grand Island, tJebraska, and an easement for utilities across the
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<br /> ,t Southerly Sixteen feet (S16' ) of the tdesterly One Hundred and Forty
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<br /> '� feet (41140' ) of said Lot Six (6) in 4Joodland First Subdivision,
<br /> � Grand Island, Hall County> idebraska, and
<br /> "' WHEREAS, the aforesaid Guarantors guaranteed the oayment
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<br /> � of said Promissory IJote by said Home Trade Corp. , and
<br /> Y 4;HEREAS, said Guarantors, and each of them, now request
<br /> r� that said Thelma Rasmussen release said Rex Otto from his guarantee
<br /> `; aforesaid, and
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<br />, ;2,. IdNEREAS, said Lyle A. Fisher and E. Dean 1•Jolfe agree
<br /> ' that their guarantee shall remain in full force and effect as far
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<br /> as their personal liability is concerned if said Thelma Rasmussen
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<br /> does release said Rex Otto,
<br /> P�OW, TNEREfORE, in consideration of the premises and of
<br /> the granting of such releaseby said Thelina Rasmussen as requested
<br /> aforesaid, be it agreed by and between the parties hereto as fol- '
<br /> 1 o t•i s:
<br /> 1. Thelma Rasmussen her•eby releases szid Rex Otto from
<br /> the terms and conditions of the afore described guarantee.
<br /> 2. Lyle A, fisher and E. Dean 4Jolfe hereby ratify and
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<br /> - confirm the aforesaid guarantee and agree that the release by said M t�
<br /> � Thelma Rasmussen of Rex Otto shall in no manner affect their �
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