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� � . T <br /> '. � <br /> 99 106 �22 <br /> ANNTJAL CHANGE DATE <br /> NEW FUNDS <br /> (EMNEWFUND195 .MERGE) <br /> Revised 02/99 <br /> Prepared by and return to: <br /> Jean Jackson, Loan Officer <br /> Lutheran Church Extension Fund- <br /> Missouri Synod <br /> P.O. Box 229009 <br /> St. Louis, Missouri 63122-9009 <br /> LUTHERAN CHURCB EXTENSION FIIND-MISSOURI SYNOD <br /> Sunset Corporate Center, 10733 Sunset Office Drive <br /> Saint Louis, Missouri 63127-1219 <br /> EXTENSION AND MODIFICATION AGREEMENT <br /> Grand Island, Nebraska <br /> THIS AGREEMENT is made and entered into as of the 24th day <br /> of June, 1999, by and between LUTHER.AN CHURCH EXTENSION FUND- <br /> MISSOURI SYNOD ( "Payee" ) , a Missouri not-for-profit corporation, <br /> and PEACE LUTHER.AN CHURCH OF GRAND ISLAND, NEBR.ASKA (the <br /> "Maker" ) , a corporation organized under the laws of the State of <br /> Nebraska. <br /> RECITALS <br /> A. Maker is indebted to Payee pursuant to a Promissory <br /> Note (the "Note" ) dated as of September 8, 1994 in the principal <br /> amount of $1, 034, 012 .25 bearing interest at a variable rate per <br /> annum on the principal sum from time to time remaining unpaid, <br /> payable to Payee in consecutive monthly installments with a <br /> 240th monthly installment in the full amount of all unpaid <br /> principal and interest due and payable on September 8, 2014 . <br /> B. The Note is secured by that certain Deed of Trust (the <br /> "Deed of Trust" ) recorded on the 9th day of September, 1994, as <br /> Document No. 94-107482 of the Official Records of Hall County, <br /> Nebraska. <br /> C. Maker is also indebted to Payee pursuant to an <br /> Unsecured Promissory Note (the "Unsecured Note" ) dated as of <br /> December 16, 1998 in the principal amount of $70, 000 . 00 bearing <br /> interest at variable rates of interest per annum on the principal <br /> sum from time to time remaining unpaid, payable to LCEF in <br /> consecutive monthly installments with the full balance of all <br /> unpaid principal and interest due and payable in a final 180th <br /> monthly installment. <br /> D. The balance presently due and payable under the Note to <br /> Payee is $462, 108 . 75 (the "Principal Balance" ) and the balance <br /> presently due and payable under the Unsecured Note is $68, 738 . 95 <br /> (the "principal balance" ) . <br /> E. The parties are desirous of entering into this <br /> Agreement for the purpose of combining both principal balances <br /> and extending and modifying the combined Notes to provide for <br />