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<br />9Q-- 106908
<br />RELEASE AND ASSUMPTION AGREEMENT
<br />Lqt Four (4) Jamson Subdivision, in -the City of Grand Island, Hall County,
<br />Nebraska.
<br />Agraamont made October 10 ,18 90 , between
<br />GOOSIC. Steven 6, Linda Lea _ Af
<br />City of Grand island , County of Hall State of Nebraska
<br />herein referred to as Sailer. CENTRAL MORTGAGE CORPORATION which
<br />Is organized and existing under the laws of Michigan, whose mailing
<br />address is 22500 McJroW1it4n Mt. Clemens, MI 98043, heroin referred to
<br />as Mortgagee ay
<br />and MAT JU, lay Wo b Annette K.
<br />P.O. Box 788 address
<br />City of Grand Island , County of Fall tate of Nebraska
<br />(herein referred to as Purchaser
<br />1. Seller is obligated and liable for the payment to
<br />Mortgages of the debt evidenced by a promissory note in the sum of
<br />plirty -eight thousand five hundred fifty and 00/100
<br />Boilers 38, 550.00 , dated January 27 _,19 89 and
<br />executed by Seller, which promissory note is secured by a Deed of
<br />Trust dated January 27 , 19 89 in Doc. Instrument #89-10-0478
<br />In the office of the Register of Deeds of the County OF -Mill
<br />State of Nebraska and Mortgagee is now the owner and
<br />,holder of such promnibsory note and Deed of Trust.
<br />2. Sollsr has sold and coveyed or is about to $ell and convey
<br />Ith■ whole of the real property described in such Deed of Trust to
<br />Purchaser, and both Seller and Purchaser have requested Mortgages
<br />to ralease Seller from further liability under or on account of
<br />(such promissory notte and /or such Good of Trust. for the reasons
<br />,set forth above, and in consideration of the mutual conveyance and
<br />promises of the parties hereto, Seller, Mortgagee, and Purchaser
<br />covenant and agree as follows:
<br />SECTION ONE
<br />UNPAID BALANCE OF SECURED OBLIGATION
<br />All monthly installments of Principal and Interest provided by such
<br />note to be paid after September 1 , 18 90 are unpaid.
<br />( SECTION TWO
<br />RELEASE FROM LIABILLITY
<br />Seller is hereby released From further liability under or on
<br />account of such Note and such Deed of Trust.
<br />ISECTION THREE
<br />ASSUMPTION OF LIABILITY AND INTEREST AND INSTALLMENT INEREASE
<br />{Purchaser agrees to pay such Note in installments at the times and
<br />in the manner therein provided: to perform all of the obligations
<br />provided in such Dead of Trust to be performed by Seller at the
<br />'time, in the manner, and in all respects as therein provided: and
<br />Ito be bound by all of terms of such Deed of Trust: all as though
<br />such Note and Deed of Trust, and each of them, had originally been
<br />made, executed, and delivered by Purchaser: provided, however,
<br />ithat the interest on the unpaid Principal Balance shall, until
<br />the next change date, be paid at the rate of Ten and one -half --- - - - - --
<br />10.5 % per annum, in consecutive monthly
<br />iinstallments of Three hundred fifty -two and 63/100---------------- -- - ---
<br />9 352.63 , including principal, plus 1/12 estimated
<br />annual taxes and insurance on the first day of such month,
<br />'beginnivV Cc¢'aber 1 19 90 .
<br />SECTION FOUR
<br />NO IMPAIRMENT OF LIEN
<br />.The whole of the real property described in such Cored of Trust
<br />shall remain subject to lien, charge, or ancumbron- -e of such Deed
<br />of Trust, and nothing herein contained or done ;mjrauant hereto
<br />i shmi a ac CeCL or, Da conaccuva Zu 09 c ei:% 6110 i ioi., %i Bi ye. va
<br />encumbrance of the geed of Trust or the priority thereof over other
<br />,liens, charges or encumbrances, or except as herein otherwise
<br />provided, to release or affect the liability of any party or
<br />;parties whomsoever would now or may hereafter be liable under or on
<br />.account of such note and Deed of Trust.
<br />SECTION FIUL
<br />INTERPRETATION
<br />In this agreement, the singular number includes the plural and the
<br />plural number includes the singular. If this agreement is executed
<br />,by more than one person, firm or corporation as purchaser, the
<br />obligations of each such parson, firm or corporation hereunder
<br />shall be joint and several.
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