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.I NOTE AND MORTGAGE MODIFICATION AGlIEI:MI!NT (Excension Agreement) . . 88_105124 . In consideration of the extension of the timo of payment of the original promissory note hereinafter described, the undersigned Merchants Development Coo, A Partnership. hereby covenant and agree to pay to Norweat Bank Nebraska, National Associacion, formerly Narwest Bank Grand Island, National Association, formerly The First National Bsnk of Grand Island. or order. the principal sum of Eighty-Eight Thousand Nine Hundred Forty Six and .38/100 Dollars ($88.946.38). together with interest thereon at 11.25 percent per annum from the date hereof. such sum to be payable in 35 monthly payments of $1.025.55 commencing on September 15. 1988 and continuing on the same day of each month until August 15, 1991 when the final payment is due of the remaining principal and interest balance. The original principal note in the amount of Ninety Five Thousand Two Hundred Eighty and no/IOO dollars ($95.280.00) was executed and delivered by the undersigned ~nder the date of September 19, 1983, to The First National Bank of Grand Island, Grand Island. Nebraska, and was due and payable on the 15th day of Occober, 1985, together with interest at 11.75 percent per annum and secured by Real Estate Mortgage to The First National Bank of Grand Island, Grand Island, Nebraska, recorded as document number 83-005443 and rerecorded as document number 84-000017 in the Mortgage Records of Hall County, Nebraska. The undersigned agrees to pay such extended balance of principal of Eighty Eight Thousand Nine Hundred Forty-Six snd .38/100 dollars ($88.946.38). together with interest thereon at 11~25 percent per annum, such principal and interest to be payable in lawful money of the United States of America at Norwest Bank Nebraska. National Association at Grand Island, Nebraska. All of the covenants and agreements in such original note and the Real Estate Mortgage above-described, other than hereinbefore modified, shall be and remain unchanged and in full force and effect during such extended period. If default be made in payment of any principal sum, the entire principal sum with interest thereon, shall become immediately due and payable at the election of the legal holder thereof. In further consideration of such extension of time of payment of such indebtedness. I hereby ratify and confirm such mortgsge recorded as document number 83-005443 and rerecorded as document number 84-000017 in the Real Estate Mortgage records of Hall County, Nebraska as the first mortgage lien upon the real property described therein, and the whole of the title thereto as now owned by me. The undersigned executes this Extension Agreement with reference to and on the faith and credit of their property, which they now own or have an interest in or hereafter may acquire; the express intention being to charge and to continue to charge any and all of such property with the payment of the indebtedness, the payment of which is herein extended. IN WITpESS WHEREOF, the undersigned have hereunto set their hands this ~ day of ~.d'3t'C, T ,1988. STATE OF lie hra.s Jt n. , COUNTY OF 1-/,.,. /1 On tbis ~ day of Allfjl/5 t" , 1988, before me. the undersigned a Notary Public. in and for /I~ 1/ ' County, personally came tfnhn /(. /1,'/1,01' "11..1 J?nnn./d l, W//JLJ1d1'1 personally known to me to be the identical persons whose names are affixed to the above and foregoing Extension Agreement as makers, and they acknowledged said instrument and the execution thereof to be their voluntary act and deed for the purpose therein expressed. IN TESTIMONY WHEREOF, I have hereunto affixed my hand and official seal aC (';r-'lnrl "f"c-.ft,h""" ,{/to),rn.s.lt'a on the day and year last above-written. J:L-:&Jv-:t /J,~I ./(17 if Notary Public