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<br />r <br /> <br />88- 100698 <br /> <br />MODIFICATION AGREEMENT <br /> <br />ThlS Modificatlon Agreement lS entered into between starr <br /> <br />Seed Farms, Ine" a Nebraska corporation, hereafter referred to as <br /> <br />"starr Seed", and Harmka Itzen Sergeant, hereafter referred to as <br /> <br />"Sergeant". <br /> <br />This agreement is entered lnto to modify certain <br /> <br />provisions of a mortgage note and mortgage prevlously conveyed to <br /> <br />sergeant by Starr seed, <br /> <br />starr Seed and sergeant agree 35 follcws: <br /> <br />1. starr Seed previously executed and dellvered to Sergeant <br /> <br />a certaln Mortgage Note dated December 1, 1)76. WhlCh Note <br /> <br />originally had a prlnC1pa~ balance of 5384,000 to be paid by starr <br /> <br />Seed to Sergeant by annual prlncl.pal payments .:)f 519,200 plus <br /> <br />interest on the unp~id balance of 8% per annum With a balloon <br /> <br />payment:>r 5192,000 due as stated 1n s:1.1d No'Ce. <br /> <br />Said Mortgage Note 15 hereby mutually modified such that <br /> <br />starr Seed shall pay Sergeant equal prlnclpal payments of 519,200 <br /> <br />plus accrued ln'Cerest on 'Che Is'C day of December, 1988, and <br /> <br />continUing in like equal p~incipal payments plus accrued interest <br /> <br />on the unpald prinCipal balanCE en the E~~3t day of December each <br /> <br />year thereafter until December 1, 1992, at which time the remaining <br /> <br />unpaid prinCipal balance plus any remaining accrued interest shall <br /> <br />be payable in full. <br /> <br />C:,mrr,enclng on D-?cember 1, ~98-'. and continuing <br /> <br />thereafter, the interest rate owed en the Mortgage Note shall be <br /> <br />10% per annum rather than 8~ per ennum as sta~ed in sald orlginal <br /> <br />Note. Additionally. Starr Seed shall pay Sergeant a late charge of <br /> <br />L <br /> <br />I <br />t <br />'f <br />,~ <br /> <br />~ n; <br />oil) <br />;f; <br />i:':; <br />t~ <br />I <br />'.:1 <br />J <br />t: <br />'1' <br /> <br />r--- <br /> <br />~ <br /> <br />~ <br />-I <br />~ <br />"" <br />~ <br /> <br />( <br />