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o sa M d , CONSOLIDATION, EXTENSION AND MODIFICATION AGREEMENT1 c t WORDS USED OFTEN IN THIS DOCUMENT (A) "Agreement." This document, which is dated January 3 2003 and exhibits and riders attached to this document will be called the "Agreement ". —_ (B) "Borrower." Tiou Keo)avone and Louane Keolavone will be called "Borrower" and sometimes "1" or "we ". v- Borrower's address is 403 South Vine Gra nd Island NE 68801 0 (C) "Lender." Columbus Federal Savings Bank N /WA BankFirst will be called "Lender' and sometimes "Note Holder." Lender is a corporation or association that exists under the laws of Nebraska. Lender's address is 1371 26 "' Avenue, P.O. Box 908, Columbus, NE 68602 -0908. (D) "Mortgages." The mortgages, deeds of trust or other security instruments identified below and any additional security instruments and related agreements identified in Exhibit A to this Agreement will be called the "Mortgages:" (1) The Mortgage given by Tiou Keolavone and Louane Keolavone Husband and Wife and dated November 22 1995 in favor of COLUMBUS FEDERAL SAVINGS BANK securing the original principal amount of U.S. $40,800.00. This Mortgage was recorded on November 8 1991 in the Office Of the Register of Deeds of Hall County, State of NEBRASKA, at Document No. 91- 107594. At this date, the unpaid principal balance secured by this Mortgage is U.S. $ 35654.22 __Note Holder." Lender or anyone who succeeds to Lender's rights under this Agreement and who is entitled to receive the payments the borrower agrees to make under this Agreement may be called the "Note Holder." (F) "Notes." The Notes identified below and any additional Notes and related obligations identified in Exhibit A to this Agreement will be called the "Notes ": (1) The Note secured by the Mortgage identified in Section (D)(1) above and dated November 8, 1991. "Property." The property which is described in the Mortgage, will be called the "Property ", and is 403 South Vine AKA See attached legal description. Cb'XNiu iT "4 "f The borrower promises and agrees with Lender the following: I. BORROWER'S AGREEMENT ABOUT OBLIGATIONS UNDER THE NOTES AND MORTGAGES The borrower agrees to take over all of the obligations under the Notes and Mortgages as consolidated and modified by this Agreement as Borrower. This means that the borrower will keep all of the promises and agreements made in the Notes and Mortgages even if some other person made those promises and agreements before them. The total unpaid principal balance of the Notes is U.S. $ 35,654 22 . Of this amount, U.S. $ 0.00 was advanced to the borrower (or for my account) immediately prior to this consolidation. II. AGREEMENT TO COMBINE NOTES AND MORTGAGES By signing this Agreement, the Lender and Borrowers are combining into one set of rights and obligations all of the promises and agreements stated in the Notes and Mortgages including any earlier agreements which combined or extended Tights and obligations under any of the Notes and Mortgage. This means that all of the Lender's rights in the Property are combined so that under the law, the Lender has one mortgage and I have one loan obligation which I /we will pay as provided in this Agreement. III. THE CONSOLIDATED NOTE AND THE CONSOLIDATED MORTGAGE This combining of notes and mortgages is known as "consolidation ". The Notes together will be called the "Consolidated Note". The Mortgages together will be called the "Consolidated Mortgage" The Consolidated Mortgage secures the Consolidated Note and is a single lien upon the Property. The borrowers have no right of set- off or counterclaim or defense to the obligations of the Consolidated Note or the Consolidated Mortgage. IV. AGREEMENT TO CHANGE TERMS OF THE CONSOLIDATED NOTE The Lender and Borrowers agree to change the terms of the Consolidated Note. The new terms are: (1) Borrower's Promise to Pay Principal and Interest - The borrower promises to pay the principal that has not yet been paid under the Consolidated Note, plus interest, to the order of the Lender. That principal amount is U.S. $ 35 654 22 . Interest will be charged on unpaid principal as provided in this Agreement beginning on the date of this Agreement until the full amount of principal has been paid. (2) Payments (A) Time and Place of Payments - Full monthly payments including principal and interest payments will begin February 1 2003. They will make these payments every month until they have paid all of the principal and interest and any other charges that may have been accrued under this Agreement and the Consolidated Note. The monthly payments will be applied to interest before principal. If on June 1 2022 they still owe amounts under this Agreement or the Consolidated Note, they will pay those amounts in full on that date, which is called the "maturity date ". The borrower will make my monthly payments at 1371 26" Avenue, P.O. Box 908, Columbus, NE 68602 -0908 or at a different place if required by the Note Holder. (8) Interest Rate - The borrower will pay interest at a yearly rate of 8.500% . The interest rate required by this Section (2)(B) is the rate that will be paid both before and after any default described in Section (3)(B) of this Consolidated Note. (C) Monthly Payments — Beginning February 1, 2003, until new maturity date, principal and interest payment of 3$ 13.72 plus escrow payment for taxes and insurances.