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<br />WHEREAS, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, _
<br />hereinafter referred to as " Home Federal ", loaned KEA Investments, LLC. hereinafter referred to as
<br />"Borrower ", the original principal sum of One Hundred Eighty Thousand and 00 /100 Dollars ($180,000.00),
<br />as evidenced by a Deed of Trust Note dated April 26, 2001, and secured by a Mortgage /Deed of Trust dated
<br />April 26, 2001 and recorded as Instrument No. 0200103803 in the Office of the Register of Deeds in HALL
<br />County, NEBRASKA and
<br />WHEREAS, said Borrowers have sold to the undersigned Purchasers the property legally described
<br />as:
<br />A tract of land comprising a part of the East Half of the Northeast Quarter (E 1 /2NE 1 /4) of Section Twelve
<br />(12), Township Eleven (11) North, Range Ten (10) West of the 6th P.M., Hall County, Nebraska, more
<br />particularly described as follows: Commencing at a point Seventy Five (75) feet east of the Northwest corner
<br />of said E 1 /2NE 1/4 on the North line of said E 1 /2NE 1 /4; thence continuing easterly along the north line of
<br />said E1 /2NE1/4 a distance of Two Hundred (200) feet; thence southerly and parallel to the Westerly line of
<br />said E1 /2NE1 /4 a distance of Two Hundred Seventeen and Eight Tenths (217.8) feet; thence Westerly and
<br />parallel to the North line of said E1 /2NE1 /4 a distance of Two Hundred (200) feet to a point on the Easterly
<br />right of way of U.S. Highway No. 281; thence Northerly along and upon the East right of way line of U.S.
<br />Highway No. 281 a distance of Two Hundred Seventeen and Eight Tenths (217.8) feet to the point of
<br />beginning
<br />and
<br />WHEREAS, Purchasers desire to assume and pay the remaining indebtedness described above as
<br />evidenced by the aforementioned Note and Mortgage /Deed of Trust; and
<br />WHEREAS, Borrowers desire to be released from any further obligation in respect to the above
<br />described Note and Mortgage/Deed of Trust; and
<br />WHEREAS, Home Federal is willing to permit the assumption by Purchasers of the Note and
<br />Mortgage /Deed of Trust and release the Borrowers from the obligations evidenced by the aforedescribed
<br />Note and Mortgage /Deed of Trust; subject, however, to a revision of terms of payment of said indebtedness,
<br />NOW, THEREFORE, in consideration of the mutual covenants herein contained, it is agreed:
<br />1. The undersigned Purchasers hereby assume and agree to pay the remaining indebtedness
<br />evidenced by the aforedescribed Note and Mortgage /Deed of Trust and perform all of the obligations
<br />provided therein and as modified hereby, it being agreed and understood that as of this date said indebtedness
<br />is One Hundred Sixty One Thousand Six Hundred Fifty Five and 61/100 Dollars ($161,655 61�
<br />2. The terms of the repayment of the debt evidenced by the aforedescribed Note and Mortgage /Deed
<br />of Trust will continue to have interest upon the unpaid balance of said indebtedness at the rate of Nine
<br />Percent (9.00 %) per annum, and that monthly payments shall be made commencing on the 1St dM of April,
<br />2004, and continuing on the 1 st of each month thereafter, it being further agreed that such payments shall be
<br />in the amount of One Thousand Eight Hundred Twenty Five and 68/100 Dollars ($1,825.L8) per month, to be
<br />applied first to interest and the balance to principal until said indebtedness is paid in full, and that, in
<br />addition, said Purchasers will pay the sum of Three Hundred Fifty Three and 70/100 Dollars ($353.70) per
<br />month in escrow estimated sufficient to pay taxes on said property, which estimate may be revised from time
<br />to time by Home Federal, making a total current payment of Two Thousand One Hundred Seventy Nine and
<br />38/100 Dollars $2 179.38) per month.
<br />3. Except as modified hereby, the Note and Mortgage /Deed of Trust above described shall remain in
<br />full force and effect, and the undersigned Purchasers promise to pay said indebtedness as herein stated and to
<br />person all of the obligations of said Mortgage /Deed of Trust as herein revised.
<br />4. By reason of this Loan Modification and Assumption Agreement, Home Federal hereby releases
<br />and discharges the undersigned original Borrowers from their personal obligation upon said indebtedness.
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<br />WHEREAS, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, _
<br />hereinafter referred to as " Home Federal ", loaned KEA Investments, LLC. hereinafter referred to as
<br />"Borrower ", the original principal sum of One Hundred Eighty Thousand and 00 /100 Dollars ($180,000.00),
<br />as evidenced by a Deed of Trust Note dated April 26, 2001, and secured by a Mortgage /Deed of Trust dated
<br />April 26, 2001 and recorded as Instrument No. 0200103803 in the Office of the Register of Deeds in HALL
<br />County, NEBRASKA and
<br />WHEREAS, said Borrowers have sold to the undersigned Purchasers the property legally described
<br />as:
<br />A tract of land comprising a part of the East Half of the Northeast Quarter (E 1 /2NE 1 /4) of Section Twelve
<br />(12), Township Eleven (11) North, Range Ten (10) West of the 6th P.M., Hall County, Nebraska, more
<br />particularly described as follows: Commencing at a point Seventy Five (75) feet east of the Northwest corner
<br />of said E 1 /2NE 1/4 on the North line of said E 1 /2NE 1 /4; thence continuing easterly along the north line of
<br />said E1 /2NE1/4 a distance of Two Hundred (200) feet; thence southerly and parallel to the Westerly line of
<br />said E1 /2NE1 /4 a distance of Two Hundred Seventeen and Eight Tenths (217.8) feet; thence Westerly and
<br />parallel to the North line of said E1 /2NE1 /4 a distance of Two Hundred (200) feet to a point on the Easterly
<br />right of way of U.S. Highway No. 281; thence Northerly along and upon the East right of way line of U.S.
<br />Highway No. 281 a distance of Two Hundred Seventeen and Eight Tenths (217.8) feet to the point of
<br />beginning
<br />and
<br />WHEREAS, Purchasers desire to assume and pay the remaining indebtedness described above as
<br />evidenced by the aforementioned Note and Mortgage /Deed of Trust; and
<br />WHEREAS, Borrowers desire to be released from any further obligation in respect to the above
<br />described Note and Mortgage/Deed of Trust; and
<br />WHEREAS, Home Federal is willing to permit the assumption by Purchasers of the Note and
<br />Mortgage /Deed of Trust and release the Borrowers from the obligations evidenced by the aforedescribed
<br />Note and Mortgage /Deed of Trust; subject, however, to a revision of terms of payment of said indebtedness,
<br />NOW, THEREFORE, in consideration of the mutual covenants herein contained, it is agreed:
<br />1. The undersigned Purchasers hereby assume and agree to pay the remaining indebtedness
<br />evidenced by the aforedescribed Note and Mortgage /Deed of Trust and perform all of the obligations
<br />provided therein and as modified hereby, it being agreed and understood that as of this date said indebtedness
<br />is One Hundred Sixty One Thousand Six Hundred Fifty Five and 61/100 Dollars ($161,655 61�
<br />2. The terms of the repayment of the debt evidenced by the aforedescribed Note and Mortgage /Deed
<br />of Trust will continue to have interest upon the unpaid balance of said indebtedness at the rate of Nine
<br />Percent (9.00 %) per annum, and that monthly payments shall be made commencing on the 1St dM of April,
<br />2004, and continuing on the 1 st of each month thereafter, it being further agreed that such payments shall be
<br />in the amount of One Thousand Eight Hundred Twenty Five and 68/100 Dollars ($1,825.L8) per month, to be
<br />applied first to interest and the balance to principal until said indebtedness is paid in full, and that, in
<br />addition, said Purchasers will pay the sum of Three Hundred Fifty Three and 70/100 Dollars ($353.70) per
<br />month in escrow estimated sufficient to pay taxes on said property, which estimate may be revised from time
<br />to time by Home Federal, making a total current payment of Two Thousand One Hundred Seventy Nine and
<br />38/100 Dollars $2 179.38) per month.
<br />3. Except as modified hereby, the Note and Mortgage /Deed of Trust above described shall remain in
<br />full force and effect, and the undersigned Purchasers promise to pay said indebtedness as herein stated and to
<br />person all of the obligations of said Mortgage /Deed of Trust as herein revised.
<br />4. By reason of this Loan Modification and Assumption Agreement, Home Federal hereby releases
<br />and discharges the undersigned original Borrowers from their personal obligation upon said indebtedness.
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