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<br />88"7"" 106672
<br />
<br />WAlKER TIllE, INC. OF GRAND ISLAND, NEBRASKA, herein called the Mortgagor,
<br />and The Overland National Bank of Grand Islw1d, Grand Island, Hall County, Nebroska,
<br />herein called the tbrtgagee, hereby agree os follcr.vs:
<br />
<br />AWIFICATION AND EXTENSION AGREEMENT
<br />
<br />1. Mortgagor hos executed and delivered to Mortgagee a real estate
<br />mortgage dated Decanber 29, 1978, and recorded on Decanber 29, 1978, as Docunent
<br />No. 78-008530 in the office of the Register of Deeds, Hall Colillty, Nebraska,
<br />in consideration of a certain mortgage note for $115,000.00, a valid subsisting
<br />obligation of the Mortgagor, and payment of the renainder of the principal and
<br />accrued interest thereon shall be due according to the tenns of the aforanen-
<br />tioned real estate mortgage, nr:xIified and payable in the following manner:
<br />
<br />A mrtgage note dated Decanber 29, 1978, on which a
<br />principal balance of :J;G8,1l5.5G now nl1WDB Wlpu.id,
<br />will be repaid in moothly installments of $1,289.12,
<br />applied first to ir. t erest, balance to principal,
<br />ccmnencing on Decanber 1, 1988. and continuing
<br />monthly thereafter until April 1, 1989, at which
<br />time the entire unpaid principal balance plus accrued
<br />interest will be fully due and payable. Interest will
<br />accrue at the Mortgagee's Reference Rate plus one-half
<br />percent with a floor of 9.0% and a ceiling of 11.0%.
<br />
<br />2. All other tenns and conditions contained in the original
<br />real estate mortgage dated Dec8nber 29, 1978, shall ranain the same, and
<br />this Modification Agreanent is made a part of the original real estate
<br />mortgage by reference and shall inure to all successors and assigns and
<br />their heirs.
<br />
<br />3. 'IRIS WAN IS PAYABLE IN FULL AT MA'lURITY OF APRIL 1, 1989.
<br />AT MA'lURITY YOU MUST REPAY THE ENl'IRE PRINCIPAL BALANCE OF THE WAN AND
<br />UNPAID INTEREST THEN DUE. THE BANK IS UNDER NO OBLIGATION 'ID REFINANCE
<br />THE WAN AT 'llIAT TIME. you. WILL THEREFOIlE BE ~IRID 'ID MAKE PAYMENT
<br />our OF OIlIER ASSEl'S YOU MAY OWN, OR YOU WILL HAVE 'ID FIND A LENDER WILLING
<br />'ID LEND YOU THE r.n;EY AT PREVAILING MARKEr RATES, WHICH MAY BE CDNSIDERABLY
<br />HIGHER 'l'IIAN 'IRE INTEREST RA'l~ ON THIS WAN.
<br />
<br />Dated this 1st day of Decanber, 1988.
<br />
<br />
<br />WAlKER TIllE, INC. OF GRAND ~
<br />
<br />~LA
<br />
<br />Fred BurklunCl, President
<br />
<br />THE OVERLAND NATIONAL BANK OF
<br />GRAND I~(,\,
<br />BY:~~
<br />Dick Bales, Carmercial/Consumer
<br />Loan Officer
<br />
<br />STATE OF NEBRASKA)
<br />)ss:
<br />CDUN'lY OF ;/1111 )
<br />
<br />Before me, a notary public qualified for said county, personally came
<br />Fred Burklund, known to me to be the identical person who signed the foregoing
<br />instrIJDent and acknowledged the execution thereof to be his voluntary act and
<br />deed and the voluntary act and deed as President of said corporation.
<br />
<br />Witness my hand and notarial seal 00 Decanber 1, 1988.
<br />
<br />
<br />r '-.:=;.tl ~ f f?r-
<br />~""-".i!I
<br />
<br />L.
<br />
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