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<br />LOAN MODIFICATION AND ASSUMPTION
<br />AGREEMENT WITH RELEASE
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<br />WHEREAS, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND
<br />ISLAND, hereinafter referred to as "Home Federal", loaned SCOTI A SCHWIEGER. A SINGLE
<br />PERSON AND BARBARA M MACE. A SINGLE PERSON hereinafter referred to as "Borrower", the
<br />original principal swn of FIFTY THOUSAND SIX HUNDRED TWENTY FIVE AND NOll 00 Dollars
<br />($50.625.00). as evidenced by a mortgage note and mortgage/deed of trust dated JULY 13.2000, recorded
<br />JUL Y 14.2000 as DOCUMENT # 0200005715 in the Office of the HALL COUNTY REGISTER OF
<br />DEED'S OFFICE IN HALL COUNTY, NEBRASKA and
<br />
<br />WHEREAS, said Borrowers have sold to the undersigned Purchasers the property legally described
<br />
<br />as:
<br />
<br />LOT TWO (2), RAUERT SUBDIVISION, HALL COUNTY, NEBRASKA
<br />
<br />WHEREAS, Purchasers desire to asswne and pay the remaining indebtedness described above as
<br />evidenced by the aforementioned note and mortgage/deed of trust; and
<br />WHEREAS, BARBARA M MACE, (As Borrower) desires to be released from any further obligation
<br />in respect to the above described note and mortgage/deed of trust; and
<br />WHEREAS, Home Federal is willing to permit the assumption by Purchaser of the note and mortgage/deed
<br />of trust and release BARBARA M MACE (Borrower) 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 Purchaser hereby asswnes and agrees 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 />FORTY ONE THOUSAND NINE HUNDRED SEVENTY FOUR AND 08/100 Dollars ($41.974.08),
<br />
<br />2. The terms of the repayment of the debt evidenced by the aforedescribed Note and Deed of Trust
<br />will remain in effect until the unpaid balance of said indebtedness shall be at the rate of SEVEN AND ONE
<br />EIGHTH PERCENT (7.125%) per annwn., and that monthly payments shall be made commencing on the
<br />1 ST day of OCTOBER, 2006, and continuing on the 1 ST day of each month thereafter, it being further
<br />agreed that such principal and interest payments shall be in the amount of THREE HUNDRED NINETY
<br />AND 16/100 Dollars ($390.16) 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 swn of FIFTY AND
<br />62/100 Dollars ($50.62) per month in escrow estimated sufficient to pay taxes and/or insurance on said
<br />property, which estimate may be revised from time to time by Home Federal, making a total current payment
<br />of FOUR HUNDRED FORTY AND 78/100 Dollars ($440.78) per month.
<br />
<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 />
<br />4. By reason of this Loan Modification and Asswnption Agreement, Home Federal hereby releases
<br />and discharges the undersigned original Borrower, BARBARA M MACE from her personal obligation upon
<br />said indebtedness,
<br />
<br />If any term, covenant, restriction or provision of this Agreement is determined to be void, invalid or
<br />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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