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<br /> :::;; �e� � \iaiky Fader�l Sxving�aad Lan Asauciuioa(h�eina�er ref�erred fo aa 'Lender'),�nd �
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<br /> TEAK ASSOCUTED ,INC., ah/i Teai�Fimnciat�!►a�oci�tes.�Inc•. . . ---
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<br /> '' �, � ("Ch�pltin V�r')ba�me holder of s Promissory Note d�ted Dca�btir 5, 1984 in � _.. -_. =
<br /> . ". the os�igiaAl p�in�l amount of One M�ioa�fty 1l�ousand Dolla� (S1,OS0,000.00)
<br /> ' . � � executod by Grand Ialand Soath Ltvwtors,a Nebrasica gencr�l pautaership(the 'Note�), �"� � .
<br /> . � � �-� which Note is aavred by�Dad of T:ust("Dad of Tiust')on prnperty located in Grand :` . ��,
<br /> '�� ' "���,,•, t s t a a d, N e b s a s l m aa kg a ll y describod on E�tn"bit 'A" attached 6ereto and incorporatod 6 '-�:"
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<br /> 1.;`� � : . 1984,is � :.;:,•.,,
<br /> . .. .. ;;f;,;; herein by refeneaoe(tlu �I'ro�ertY"),wlnch D�ood of Trust,datod D�ecem6er 5, �`j,:f.
<br /> ,.. , reco�+ded in the offia of tLe Register of Dads of Hall Camty,Nd�rash ea Document � . . ,
<br /> � � ��`F•; No. 84-006368;�und f
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<br /> �`'� . � � �4�{{,;'' � B. BX��ct Aa�umptioa anci�M`adificatios Agrament(the 'First Modific�tiQn") � ; � ..
<br /> � , � : � . datod Apii130y. 1.��'1,Chunplaie Yat�g and Teak agrood to cartuin modificatianr.g.aF the ;f..:,:. ..- ,
<br /> �,,�`�_c���:`�''- � -.; ' �u'rther W an assumpt�on by Tealc of the obligations of borrower wder "';;�'� .
<br /> Note and�gc�d:,� ':��'�:�� .
<br /> . , ,,... �.. , . .;;,;:-7`� the Note �nei Y�eed of Trust, without releasing any liability of Grand Island South ,,��r.; .' �,� -
<br /> . �' � :,::�`, Iuvestors ttre e�ginal borrower therewder or�cc ;��:; ;,�����;�::
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<br /> , - � . C. �`TT�Firat Modification w;xs recorded in the 4i`�ce of the Register otII�eds �'`.'.' ;.`.'�''..
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<br /> ,f � �; :��r��c'r�; � �;�, off Ifii�t�I�County,Nebraska an June 4, I987 as�ment No. 87-103276; and � .. :' ` �, .
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<br /> �� -,;',���' f��"��� � �''�� � D. ��.:a� Note �nd Lood a� Ti'ust �t+todificat�'ac� Agreement (the '�nd � . : '
<br /> � ; , �;,s� .�,� , : ;• , �•; Modifieatian"�'=`c��d Iuly lT, I�$�„ :�6ampt�in Valt�:ti�d Tealc sgreed tcv'r.ta'tain . . �;'��'.�
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<br /> f , :,`,��y; additiomil mcdif�tions�fibe Not�± ind�Dad 'a#Tms�, ag�so widrlaut releas$ng•aiiy r S. . .
<br /> . j , ,1;; •'r����?, li�6ility of Gre�Ia1�Soutb Imwtora or any gusrantor���sit � , �'��`��
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<br /> ;;= ��;�``�� - B. Tl�a Secand Modificatiaa was recarded $ister of ' F� :',�
<br /> --- - � • .`�,.�'�"i'�.'�' � � ' #�d�aF�aU Coun , Nebraal�a on�Ju1y 25, 1989 us Document No. 89-103$12; and �
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<br /> - _ - - - � F. On June 15, 1990,Teak filod a voluntuy petitian for reorganization under �
<br /> � � �. � Chapter 11 of the United Stat�es B�nhvptcy Code,Caae No.90-01640-C,which peddon �
<br /> �— • =,—. -_ � aas 51ed in t6e Umted Staies Ba�lcr+nptcy Couct for the Nort6ern Ilistrict of OklaUoma,
<br /> � ' � and aina thit d�te Iua�tinuod to operate the Property as debtor in possessioe; and :
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