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WHEREAS, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND
<br />ISLAND, hereinafter referred to as "Home Federal ", loaned Raymond J. O'Connor, Manuel S. Herrera,
<br />Jennifer S. O'Connor and Celia L. Fuentes hereinafter referred to as `Borrower ", the original principal
<br />sum of One Hundred Twenty Thousand and 00 /100 Dollars ($120,000.00), as evidenced by a balloon
<br />note dated September 13, 2000, and secured by a mortgage /deed of trust dated September 13, 2000 and
<br />recorded as Instrument No. 0200007570 in the Office of the Register of Deeds in HALL County,
<br />Nebraska and
<br />WHEREAS, said Borrowers have sold to the undersigned Purchasers the property legally
<br />described as:
<br />LOT RIGHT (8), IN BLOCK NINETY FOUR (94), IN THE ORIGINAL TOWN, NOW CITY
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<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 />WIIEREAS, 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;
<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
<br />indebtedness is One Hundred Nine Thousand Seven Hundred Eighty Two and 80/100 Dollars
<br />($109,782.80).
<br />2. Except as modified hereby, the note and mortgage /deed of trust above described shall remain
<br />in full force and effect. and the undersigned Purchasers promise to pay said indebtedness as herein stated
<br />and to perform all of the obligations of said mortgage /deed of trust as herein revised.
<br />3. By reason of this Loan Modification and Assumption Agreement, Home Federal hereby
<br />releases and discharges the undersigned original Borrowers from their personal obligation upon said
<br />indebtedness.
<br />4. if any term, covenant, restriction or provision of this Agreement is determined to be void,
<br />invalid or unenforceable, the remainder of the terms, covenants, restrictions or provisions of this
<br />Agreement shall remain in full force and effect, and the provisions of the note and mortgage /deed of
<br />trust amended or modified by such void, invalid or unenforceable part hereof shall be reaffirmed and
<br />enforceable to the same extent as if this Agreement had not been executed.
<br />IN WITNESS WHEREOF, the undersigned have executed this instrument on this 31st day of
<br />March, 2003.
<br />A
<br />Borrower Itaymond J. O'Connor
<br />Borrower Manuel S. Herrera
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<br />LOAN MODIFICATION AND ASSUMPTION
<br />AGREEMENT WITH RELEASE
<br />200304154
<br />WHEREAS, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND
<br />ISLAND, hereinafter referred to as "Home Federal ", loaned Raymond J. O'Connor, Manuel S. Herrera,
<br />Jennifer S. O'Connor and Celia L. Fuentes hereinafter referred to as `Borrower ", the original principal
<br />sum of One Hundred Twenty Thousand and 00 /100 Dollars ($120,000.00), as evidenced by a balloon
<br />note dated September 13, 2000, and secured by a mortgage /deed of trust dated September 13, 2000 and
<br />recorded as Instrument No. 0200007570 in the Office of the Register of Deeds in HALL County,
<br />Nebraska and
<br />WHEREAS, said Borrowers have sold to the undersigned Purchasers the property legally
<br />described as:
<br />LOT RIGHT (8), IN BLOCK NINETY FOUR (94), IN THE ORIGINAL TOWN, NOW CITY
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<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 />WIIEREAS, 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;
<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
<br />indebtedness is One Hundred Nine Thousand Seven Hundred Eighty Two and 80/100 Dollars
<br />($109,782.80).
<br />2. Except as modified hereby, the note and mortgage /deed of trust above described shall remain
<br />in full force and effect. and the undersigned Purchasers promise to pay said indebtedness as herein stated
<br />and to perform all of the obligations of said mortgage /deed of trust as herein revised.
<br />3. By reason of this Loan Modification and Assumption Agreement, Home Federal hereby
<br />releases and discharges the undersigned original Borrowers from their personal obligation upon said
<br />indebtedness.
<br />4. if any term, covenant, restriction or provision of this Agreement is determined to be void,
<br />invalid or unenforceable, the remainder of the terms, covenants, restrictions or provisions of this
<br />Agreement shall remain in full force and effect, and the provisions of the note and mortgage /deed of
<br />trust amended or modified by such void, invalid or unenforceable part hereof shall be reaffirmed and
<br />enforceable to the same extent as if this Agreement had not been executed.
<br />IN WITNESS WHEREOF, the undersigned have executed this instrument on this 31st day of
<br />March, 2003.
<br />A
<br />Borrower Itaymond J. O'Connor
<br />Borrower Manuel S. Herrera
<br />
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