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0 870000 104977 Loan No. 50457 -1 -18 LOAN MODIFICATION AGREEMENT THIS AGREEMENT, made and entered into this 1,;2— day of August , 1987 , by and between FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF LINCOLN, a United States Corporation, hereinafter referred to as Mortgagee, and Dennis F. Nielsen and Connie L. Nielsen hereinafter referred to as Mortgagors, WITNESSETH: WHEREAS, Mortgagors have made, executed and delivered to Mortgagee their promissory note in the amount of Forty -Five Thousand Four HundreJ and no /lop ($ 45,400.00 ** ). secured by a certain real estate mortgage known as Loan No. #50457-1-18 . executed on September 13, , 19 82 , and duly recorded in the office of the Register of Deeds of Hall County, Nebraska, )W Document No. #82- 003983 of the Mortgage records in said office, which note and mortgage are hereby incorporated herein as a part of this instrument, and conveying: Lot Three (3) in Block Three (3), in County Club Subdivision, being a part of the East Half of the Northwest Quarter (EL /2 NW 1/4) of Section 28, Township 11 North, Range 9 West of the 6th PM, in Hall County, Nebraska. RECORDERS MEMO: and, J Reg, of Deeds WHEREAS, the Mortgagors now desire to alter the amount of monthly installment required by said note and mortgage by virtue of the reduction of the principal amount. and alter the term of the loan; WHEREAS, the parties wish to reduce said interest rate in lieu of any refinancing of said obligation and to alter the maturity date; IT IS THEREFORE MUTUALLY AGREED that as of the first day of September 19 87, said obligation shall bear interest at the rate of Twelve per cent ( 12.0 %) per annum upon the balance remaining payable on said note and to alter the maturity date on the note to be September 1, 20 02 . IT IS FURTHER AGREED that beginning on October , 19 87 said note and mortgage shall be altered to provide for a monthly installment of principal and interest in the sum of Five Hundred Ten and 59/100's-------------- Dollars ($510.59 ** ). Upon these conditions. said payments shall be made by the Mortgagors and accepted by the Mortgagee subject to all of the other terms of the mortgage loan above described, which said terms remain in full force and effect. This agreement shall be binding upon the parties hereto, their heirs, legatees, devisees. personal representatives and successors and assigns. WITNESS our hands at Grand Island . Nebraska, this i; day of August , 1987 . FIRST FEDERAL SAVINGS AND LOAN ASSOC_I,A�T7ION OF LINCOLN. Mortgagee Epsr Diet Presi ent Mortgagors __