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Form HUD No. 6237-Neb. <br />(Sec. 312 Loan) <br />(Revised Aug. 1970) <br />PROMISSORY.'NOTE <br />i <br />Project No. NDP NE A-2 Place: Grand Island <br />Nebraska j <br />Loan <br />"No.: Date: February 27, 1975 <br />31/A-2/19/4 <br />s 16,150. 00 <br />FOR VALUE RECEIVED, the undersigned jointly and severally promises) . 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 Sixteen thousand one hundred and fifty <br />Dollars, (• $16, 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 95. 01 on April 1, 19 75 , and of $ _89. 63 , the First <br />Day. of Each Month for the remaining 239 -'months, commencing on May li 19 75 , <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 bi 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 147o per calendar month, or fraction thereof, on the amount <br />P9 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 6% per annum. <br />IF suit is instituted by the Government to recover on this Note, the undersigned ageee(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 />George R. Leetch, a% single man <br />Filed fo recortlA�. ^si9sn+.--- . , in oo <br />of , .Page 2/2 <br />Je ishe r, Register of Deeds, <br />��j7' Hall County, Nebraska <br />