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r mdr6gage.inc. <br />.... aggressive financing for the Mid -upest <br />LOAN NUMBER 12860523 <br />OWNER (Seller) R_ ov �. & Nancv ,. Hofrichter <br />PROPERTY ADDRESS: 3212 W. 18th <br />CITY & STATE Grand Island, NE 68801 <br />87-103411 <br />MORTGAGE ASSUMPTION AGREEMENT <br />THIS AGREEMENT, entered into this fk day of ..Y.1 , 1 19 <br />i/.ii <br />by and between Superior Mortgage, Inc. , hereinafter called <br />"Mortgagee; and (Assumer) Jeffrey B. & he fit L.- , hereinafter called <br />"Borrower". O'Callaghan <br />WHEREAS, Borrower desires to purchase the following- described real estate: <br />West 61' of East 90' of Lot 10, Block 1, Westerhoff's 1st Subdivision, Hall <br />County, Nebraska. <br />WHEREAS, there is recorded in the Mortgage Records of Hall County, <br />Document tl 86- 106999 <br />Nebras!:u in Vbl(ildC INCOMM , a mortgage on said <br />real estate, dated December 5 , 19 86 , in favor of Superior Mortgage, <br />Inc. and assigned to <br />in Book at Page _t and <br />WHEREAS, Borrower as a part of the purchase price for said real estate, <br />desires to assume said mortgage as described below and pay the obligations <br />secured thereby. <br />The total amount of indebtedness of Borrower to Mortgagee on account of <br />the hereinbeforedescribed note and mortgage as of the date hereof, including <br />all principal, interest and any other amounts due is $ 49,314.02 <br />hereinafter referred to as the "principal balance ", which Borrower, jointly <br />and severally, promises to pay the Mortgagee or order, at any Nebraska office <br />of the Servicing Lender, together with interest thereon at the rate of 7.5 <br />percent per annum, in monthly installments of $ 346.11 beginning <br />July 1 , 1987 (P &I) <br />It is understood and agreed by the undersigned that the hereinbefore <br />described mortgage shall constitute and remain as security for the payment of <br />the amount due, as above set forth, and that all terms and conditions of said <br />mortgage shall remain in full force and effect. <br />Borrowers of VA Guaranty loans or FRA insured loans shall be allowed to. <br />make prepayments or pay the loan in full, at anytime, without penalty. <br />IN WITNESS WHEREOF, the undersigned have hereunto set their hands the <br />day and year first above written and agree that this loan shall be governed <br />by the laws of the State of <br />Superior Mortgage, Inc. <br />Servicing Lender:/ Mortgagee <br />Nebraska <br />Karin G. Be lo, Asst. Sec. <br />i <br />J,Jeffrey, B .�0 /1la(g7han <br />06-3orrower (spouse) <br />Sherri L. O'Callaghan <br />