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<br />�i LOAN MODIFICATION AND ASSUMPTION
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<br />AGREEMENT WITHOUT RELEASE
<br />WHEREAS, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND,
<br />hereinafter referred to as "Home Federal ", loaned RAYMOND J O'CONNOR AND JENNIFER S
<br />O'CONNOR, HUSBAND AND WIFE hereinafter referred to as `Borrower ", the original principal sum of
<br />SIXTY ONE THOUSAND SIX HUNDRED FIFTY AND NO /100 Dollars ($ 61,650.00), as evidenced by a
<br />mortgage note and by a mortgage /deed of trust dated JULY 31, 2001, and recorded AUGUST 1, 2001 and '
<br />recorded as Document # 0200107549 in the Office of the County Clerk in HALL County, Nebraska and
<br />WHEREAS, said Borrowers have sold to the undersigned Purchasers the property legally described
<br />as:
<br />UNIT SIX (6) GARAGE SIX (6), MIDDLETOWN CONDOMINIUMS TO THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA AND ALL COMMON AREA IN CONNECTION WITH
<br />MIDDLETOWN CONDOMINIUMS.
<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, Home Federal is willing to permit the assumption by Purchasers of the note and mortgage /deed
<br />of trust KELLI E O'CONNOR A SINGLE PERSON AND RAYMOND J O'CONNOR AND JENNIFER S
<br />O'CONNOR, HUSBAND AND WIFE, (Borrowers) from the obligations evidenced by the
<br />aforedescribed 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 provided
<br />therein and as modified hereby, it being agreed and understood that as of this date said indebtedness is
<br />FIFTY TWO THOUSAND SEVEN HUNDRED EIGHT AND 30/100 Dollars ($52,708.30).
<br />2. The terms of the repayment of the debt evidenced by the aforedescribed note and mortgage /deed
<br />of trust are hereby modified in that interest upon the unpaid balance of said indebtedness shall be at the rate
<br />of FIVE AND ONE -HALF percent 5.50% per annum, and that monthly payments shall be made
<br />commencing on the 1 ST day of OCTOBER, 2003, and continuing on the 1 ST day of each month thereafter,
<br />it being further agreed that such payments shall be in the amount of NINE HUNDRED NINETY NINE
<br />AND 11 /100 Dollars 999.11 per month, to be applied first to interest and the balance to principal until
<br />said indebtedness is paid in full, and that, in addition, said Purchasers will pay the sum of ONE HUNDRED
<br />FORTY THREE AND 48/100 DOLLARS $1( 43.48) per month in escrow estimated sufficient to pay taxes
<br />and/or insurance on said property, which estimate may be revised from time to time by Home Federal,
<br />making a total current payment of ONE THOUSAND ONE HUNDRED FORTY TWO AND 59/100
<br />Dollars ($1,142.59) 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 />perform all of the obligations of said mortgage /deed of trust as herein revised.
<br />4. If any term, covenant, restriction or provision of this Agreement is determined to be void, invalid
<br />or unenforceable, the remainder of the terms, covenants, restrictions or provisions of this Agreement shall
<br />remain in full force and effect, and the provisions of the note and mortgage /deed of trust amended or
<br />modified by such void, invalid or unenforceable part hereof shall be reaffirmed and enforceable to the same
<br />extent as if this Agreement had not been executed.
<br />IN WITNESS WHEREOF, the undersigned have executed this instrument on this g day of
<br />SEPTEMBER, 2003.
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