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r Form HUD No'. 6237-Neb.
<br />(Sec. '312. 'Loan)
<br />(Revised Aus._ 1970)
<br />Project No. .NDP ND A-2
<br />Loan No.: 31/A-2/22/1
<br />PROMISSORY NOTE_
<br />Place: Grand Island,
<br />Nebraska
<br />Date: August 21, 1975
<br />$ 17,400.00.
<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 Seventeen Thousand Four Hundred and no/100
<br />Dollars, ( $17,;4 . 00.00 ), and to _ pay interest on the unpaid principal amount of this Note from the date
<br />hereof, at the rate. of Three per centum (3`%) per annum, until paid. Both the Principal and interest on this Note arc payable on
<br />the First Day of: Each Month in 240 monthly installments, including both principal and interest, commencing
<br />with a payment of:$ 125.56 , on October 1, 19 75 , and of $ 96.57 , the First
<br />Day of Each Month -for the remaining 239 months, commencing on November 1 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 reserve(s) the right to prepay at any time all or any part of .ihe principal amount of this Note without
<br />the payment of penalties or premiums. All payments on this Note shall be appli.ed 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 11/0 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 Mortgage
<br />duly filed for record in
<br />Register of.Deeds Office, Hall County, Nebraska
<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. ,
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