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87- 107059 r 062723 LOAN MODIFICATION AGREEMENT THIS LOAN MODIFICATION AGREEMENT made and executed this 4th day of Decanber ,19 87, by and between Gerald B, Kluthe and Susan M, Kluthe, Husband and Wife , hereinafter called the "Borrowers"; and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, NEBRASKA, hereinafter called the "Lender". WIT N E SSE T H: WHEREAS, the Borrowers have executed a certain Note in the original amount of Eighteen thousand forty-three and 15/100--------------- __________________Dollars ($ 18,043,15 ), dated Novanber 21 ,19 84; 11m!EREA~dn ther~..l~.~resently outstanding a remaining princi- pal PSUlfi lfWUFesc~eg1:.o'f:C5 1,vcfid Note in the amount of Sixteen thousand one hundred forty-four and 22/100-______________________________~ollars ($ 16,144,22 ) ; WHEREAS, Borrowers have made application to the Lender to adjust the terms of payment in respect to said Note; and WHEREAS, Lender has agreed to adjust the terms for payment in respect to such Note contingent upon the Borrowers' perform- ance in accordance with the provisions of this Loan Modification Agreement, NOW, THEREFORE, in consideration of the mutual covenants herein contained, it is agreed: 1. In accordance with the terms of this Loan Modification Agreement, the terms in respect to payment of the existing Note dated NovAltber 21 , 19!M...' are hereby modified to provide that the remaining principal sum of Sixteen thommnd one hllndrm forty-four and 22/100-___________________.Dollars ($16 144 22 ), with iilterest from Decenber 4 ,19JIT, on such unpaid principal balance at the annual ,rate of Eleven percent (11.0 i), and to provide that such remaining principal and interest shall be payable at the office of The Overland National Bank of Grand Island, or such other place as the holder hereof shall designate in writing delivered or mailed to the Borrowers, in Thirty-five (-35..) monthly installments of Two hundred sixtv-five and no/l()O--------------------------------------------- Dollars ($ 265.00 ) each, applied first to accrued interest and then to principal commencing on the 15th day of Januarv, 19...88, and continuing on the 15th day of each month thereafter, with a final payment of the then remaining principal balance, together with accrued interest, due and payable on the 15th day of Decanber. 1990 -1- L L ..J ~