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` Form HUD No. 6237-Neb. <br />(Sec. 312 Loan) <br />(Revised Aug. 1976) <br />Project No. NDP NE A-2 <br />Loan No.: 31/A-2/17/4 <br />s 5,150.00 <br />PROMISSORY NOTE <br />Place: Grand Island <br />• Nebraska <br />Date: January 23, 1975 <br />FOR VALUE RECEIVED, the undersigned jointly and severally promise(s) to pay to the order of the United States of <br />America (herein called the "Government"), acting by and through the Secretary of Housing and Urban Development, or his <br />successors, the sum of Five thousand one hundred and fifty <br />Dollars; ( $5,150.00 ), and to -pay interest on the unpaid .principal amount of this Note from the date <br />hereof, at the rate of Three per centum (301o) per annum, until paid. Both the Principal and interest on -this Note are payable on <br />the First Day of .Each Month in 240 monthly installments, including both principal and interest, commencing <br />with a payment of S 32.01 , on March 1 19 75 , and of 6.28.58 the First <br />Day of Each Month for the remaining tWO hundred thirty rlinQnonths, commencing on April 1 1975 , <br />in lawful money of the United States at the principal office of Conservative Mortgage Company <br />in Minneapolis, Minnesota or at such other places as shall be designated by the Government. <br />The undersigned reserves) the right to prepay at any time all or any part of the principal amount of this Note without <br />the payment of penalties or premiums. All payments on this. Note shall be applied first to the interest due on Note, and then <br />to the principal due on the Note, and the remaining balance shall. be applied to late charges if any. Except as provided below, <br />all monthly installment payments on this Note shall be credited as of the due date thereof without adjustment of interest because <br />paid either before or after such due date. <br />IN THE EVENT the undersigned shall fail to pay the interest on or principal amount of this Note when due, and if <br />such failure be subsisting on the ,date the next installment payment under this Note becomes due and payable, the unpaid <br />principal amount of this Note, together with accrued interest and late charges, shall .become due and payable, at the option of <br />the Government, without notice to the undersigned. Failure of the Government to exercise such option shall not constitute a <br />waiver of such default. No default shall exist by reason of nonpayment of any required installment of principal and interest so <br />long as the amount of the optional prepayments already made pursuant hereto equals or exceeds the amount of the required <br />installments. If the interest on, and principal of, this Note are not paid during the calendar month which includes the due <br />date, the undersigned shall pay to the Government a late charge of i% per calendar month, or fraction thereof, on the amount <br />past due and remaining unpaid. If this Note be reduced to judgment, such judgment should bear the statutory interest rate on <br />judgments, but not to exceed 6clo per annum. <br />IF suit is instituted by the Government to recover on this Note, the undersigned agree(s) to pay'all costs of such collection <br />including reasonable attorneys' fees and court costs. <br />THIS NOTE is secured by a Mortgage duly filed for record in ' <br />Hall County Recorder <br />DEMAND, protest and notice of demand and protest are hereby waived, and the undersigned hereby waives, to the extent <br />authorized by law, any and all homestead and other exemption rights which otherwise would apply to the debt evidenced by <br />this Note. <br />IN WITNESS WHEREOF, this Note has been duly executed by the, undersigned, as of its date. <br />Filed for record- J' i3oo1 ...:_; <br />_. Jan r' c;lar, Ile -inter of Deeds ji-I <br />X33 Hall County, Nebrai3k& <br />