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WHEREAS, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, <br />hereinafter referred to as "Home Federal ", loaned TERESA SPOTANSKI AND MARK A SPOTANSKI <br />WIFE AND HUSBAND AND RUSSELL ROACH, A SINGLE PERSON hereinafter referred to as <br />"Borrower ", the original principal sum of ONE HUNDRED TWELVE THOUSAND FOUR HUNDRED <br />AND NO /100 Dollars ($112,400.00), as evidenced by a mortgage note dated MARCH 27, 2002, and <br />secured by a mortgage /deed of trust dated MARCH 27, 2002 and recorded as Document # 0200203361 in <br />the Office of the HALL COUNTY REGISTER OF DEED'S OFFICE IN HALL COUNTY, NEBRASKA and <br />as: <br />WHEREAS, said Borrowers have sold to the undersigned Purchasers the property legally described <br />SEE EXHIBIT "A" <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, RUSSELL ROACH, A SINGLE PERSON, (As Borrower) desires to be released from <br />any further obligation in respect to the above described 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 and release RUSSELL ROACH, A SINGLE PERSON, (Borrower) from the obligations <br />evidenced by the 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 ONE <br />HUNDRED FIVE THOUSAND EIGHT HUNDRED SEVENTY THREE AND 32/100 Dollars <br />($105,873.32) <br />2. The terms of the repayment of the debt evidenced by the aforedescribed Adjustable Rate Note and <br />Mortgage/Deed of Trust will remain in effect, and that monthly payments shall be made commencing on the <br />1 ST day of NOVEMBER, 2003, and continuing on the 1 ST day of each month thereafter, it being further <br />agreed that such payments shall be in the amount of ONE THOUSAND THIRTY THREE AND 99/100 <br />Dollars ($1,033.99) per month, to be applied first to interest and the balance to principal until said <br />indebtedness is paid in full, and that, in addition, said Purchasers will pay the sum of NO /100 Dollars <br />($0.00) per month in escrow estimated sufficient to pay taxes and/or insurance on said property, which <br />estimate may be revised from time to time by Home Federal, making a total current payment of ONE <br />THOUSAND THIRTY THREE AND 99/100 Dollars ($1,033.99) 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. By reason of this Loan Modification and Assumption Agreement, Home Federal hereby releases <br />and discharges the undersigned original Borrower, RUSSELL ROACH, A SINGLE PERSON from his <br />personal obligation upon said indebtedness. TERESA SPOTANSKI AND MARK A SPOTANSKI„ WIFE <br />AND HUSBAND, will now be obligated on the loan. <br />5. 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 />^' <br />m <br />C M T <br />Z <br />Z <br />N <br />CAD <br />(� <br />fi <br />M <br />D <br />rt <br />q <br />=D <br />CT3 <br />Cn <br />Z:3 <br />7'0 <br />r- <br />r- " <br />(N <br />\ P <br />d <br />� <br />�, <br />o <br />Cf) <br />�` <br />~ <br />D <br />(p <br />O <br />O <br />OC <br />z <br />LOAN <br />MODIFICATION AND ASSUMPTION <br />G <br />r <br />AGREEMENT WITH RELEASE <br />WHEREAS, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, <br />hereinafter referred to as "Home Federal ", loaned TERESA SPOTANSKI AND MARK A SPOTANSKI <br />WIFE AND HUSBAND AND RUSSELL ROACH, A SINGLE PERSON hereinafter referred to as <br />"Borrower ", the original principal sum of ONE HUNDRED TWELVE THOUSAND FOUR HUNDRED <br />AND NO /100 Dollars ($112,400.00), as evidenced by a mortgage note dated MARCH 27, 2002, and <br />secured by a mortgage /deed of trust dated MARCH 27, 2002 and recorded as Document # 0200203361 in <br />the Office of the HALL COUNTY REGISTER OF DEED'S OFFICE IN HALL COUNTY, NEBRASKA and <br />as: <br />WHEREAS, said Borrowers have sold to the undersigned Purchasers the property legally described <br />SEE EXHIBIT "A" <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, RUSSELL ROACH, A SINGLE PERSON, (As Borrower) desires to be released from <br />any further obligation in respect to the above described 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 and release RUSSELL ROACH, A SINGLE PERSON, (Borrower) from the obligations <br />evidenced by the 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 ONE <br />HUNDRED FIVE THOUSAND EIGHT HUNDRED SEVENTY THREE AND 32/100 Dollars <br />($105,873.32) <br />2. The terms of the repayment of the debt evidenced by the aforedescribed Adjustable Rate Note and <br />Mortgage/Deed of Trust will remain in effect, and that monthly payments shall be made commencing on the <br />1 ST day of NOVEMBER, 2003, and continuing on the 1 ST day of each month thereafter, it being further <br />agreed that such payments shall be in the amount of ONE THOUSAND THIRTY THREE AND 99/100 <br />Dollars ($1,033.99) per month, to be applied first to interest and the balance to principal until said <br />indebtedness is paid in full, and that, in addition, said Purchasers will pay the sum of NO /100 Dollars <br />($0.00) per month in escrow estimated sufficient to pay taxes and/or insurance on said property, which <br />estimate may be revised from time to time by Home Federal, making a total current payment of ONE <br />THOUSAND THIRTY THREE AND 99/100 Dollars ($1,033.99) 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. By reason of this Loan Modification and Assumption Agreement, Home Federal hereby releases <br />and discharges the undersigned original Borrower, RUSSELL ROACH, A SINGLE PERSON from his <br />personal obligation upon said indebtedness. TERESA SPOTANSKI AND MARK A SPOTANSKI„ WIFE <br />AND HUSBAND, will now be obligated on the loan. <br />5. 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 />