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<br />R~LEASEAG~~EM~N~M?rI18_1 '034 81 88V6~ff7 9
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<br />- Agr~ement made April 2.
<br />between' Rickv L. & Kandis K. Turner
<br />. 5728 S 113th St. Omaha. NE. 68137
<br />City of Omaha ,County of
<br />state of Nebraska ,herein referred to as Selier. COLONIAL CENTRAL
<br />SAVINGS BANK F.S.B., which is organized and existing under the laws of U.S.A.
<br />successor through merger, and whosemailingaddressis36800Gratiot.Mt.
<br />Clemens, Michigan, herein referred to as Mortgagee, and
<br />Scott R. & Barbara A. Knuth
<br />2311 West Chsrles Grand Island. NE. 68803
<br />City of Grand Island ,County of Hall
<br />State of Nebraska ,herein referred to as Purchaser.
<br />The parties recite and declare that:
<br />1. Seller is obligated and liable for the payment to Mortgagee of the debt
<br />evidenced by a promissory note in the sum of Fifty One Thousand One ~undred Fifty 0/100
<br />Dollars 51,150.00), dated 6-10 ,19 86 ,and executed by Seller, WhlCh promlssory
<br />note is secured by a t"iortgage dateer6-1O--;19 86 ,in Liber 86 ,Pagel03058,in the
<br />office of the Register of Deeds of the County of Hall , State of Nebra:j:ui
<br />and Mortgagee is now the owner and holder of such promissory note and Mortgage.
<br />2. Seller has sold and conveyed or is about to sell and convey the whole of
<br />the real property described in such Mortgage to Purchaser, and both Seller and
<br />Purchaser have requested Mortgagee to release Seller from further liability under
<br />or on account of such promissory note and/or such Mortgage.
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<br />, 19--68--'
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<br />For the reasons set forth above, and in consideration of the mutual
<br />conveyance and promises of the parties hereto, Seller, Mortgagee, and Purchaser
<br />convenant and agree as follows:
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<br />SECTION ONE
<br />UNPAID BALANCE OF SECURED OBLIGATION
<br />All monthly installments of principal and interest provided by such note
<br />to be paid after March 1. ,19 88 , are unpaid.
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<br />SECTION 'lWO
<br />RELEASE FROM LIABILITY
<br />Seller is hereby released from further liability under or on account of
<br />such note and such Mortgage.
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<br />SECTION THREE
<br />ASSUMPTION OF LIABILITY AND INTEREST
<br />AND INSTALLMENT INCREASE
<br />Purchaser agrees to pay such note in installments at the times and in the
<br />manner therein provided; to perform all of the obligations provided in such mortgage
<br />to be performed by Seller at the time, in the manner, and in all respects as therein
<br />provided: and to be bound by all of the terms of such Mortgage: all as though such
<br />note and Mortgage, and each of them, had originally been made, executed, and delivered
<br />by Purchaser: provided, however,thatthe interest on the unpaid principal balance
<br />shall, until paid, be paid at the rate of Nine Percent ( 9 %)per annum, in
<br />consecutive monthly installments of Four Hundred Eleven & 56/100 ($ 411.56 ),
<br />including principal, plus 1/12 estimated annual taxes and Insurance on the 1st.
<br />day of each month, beginning April 1. ,19 88
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<br />SECTION FOUR
<br />NO IMPAIRMENT OF LIEN
<br />The whole of the real property described in such Mortgage shall remain
<br />subject to the lien, charge, or encumbrance of such Mortgage, and nothing herein
<br />contained or done pursuant hereto shall affect or be construed to affect the lien,
<br />charge or encumbrance of the Mortgage or the priority thereof over other liens,
<br />charges, or encumbrances, or except as herein otherwise provided, to release or
<br />affect the liability of any party or parties whansoever would now or may hereafter
<br />be ~iabla ~,dcr or on account of such note and Mortgage.
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<br />SECTION FIVE
<br />INTERPRETATION
<br />_.In this Agreement, the singular number includes the plural and the plural
<br />numberi*~ludes the singular. If this Agreement is executed by more than one person,
<br />firm or corporation as Purchaser, the obligations of each such person, firm, or
<br />corporation hereunder shall be joint and several.
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