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200102903 <br />NOTE SECURED BY DEED OF TRUST <br />The undersigned, CALIXTRO VAZQUEZ and SOCORRO VAZQUEZ, husband and wife <br />(Borrowers), promise to pay to the CITY OF GRAND ISLAND, a municipal corporation <br />(Lender), the principal sum of Nine Thousand Dollar ($9,000) or such sum as is due and unpaid <br />in accordance with the terms of this note if the borrowers sell the real estate secured by the Deed <br />of Trust executed contemporaneously with this note at any time prior to full maturity. The terms <br />and conditions of repayment of this note are as follows: <br />1. This note shall be due on April 3, 2021, or the date on which the Borrowers <br />execute a deed, contract or other instrument which conveys or agree to convey <br />title to the real estate secured by the aforementioned Deed of Trust, whichever <br />occurs earlier. <br />2. This note shall bear no interest or penalties other than the contingent obligation <br />for repayment by the Borrowers to the Lender noted above. <br />This note shall be secured by a contemporaneously executed Deed of Trust from the Borrowers <br />to the Lender and the Lender shall be entitled to the benefit of the security described therein in <br />accordance with the laws of the State of Nebraska as part of the Lender's Affordable Housing <br />Trust Fund. <br />The Borrowers do hereby waive demand, notice and protest or any defense arising by reason of <br />extension of time, release of collateral or other indulgence granted by the Lender. <br />Dated: April 3, 2001 <br />Aa1'ix`t4,MVazquez, Borro e <br />! ����• <br />Socorro Vazquez, BorrovOlfr <br />