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.
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<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 />
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