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EXTENSION AGREEMENT FOR PAYMENT OF NOTE - Secured by Mortgages THIS AGREEMENT made in Boelus, Nebraska by and between the Boelus State Bank, party of the first part, and KoAnn Brown, party of the second part. WHEREAS, the Second Party represents and warrants that he already made, executed and delivered to the First Party a certain promissory note for the sum of Thirty Thousand and 00/100 Dollars ($30,000.00), dated October 21st, 1986, and payable to the order of the First Party on April 21st, 1987. Note #9896. The Second Party further represents and warrants that to secure the payment of the note, with interest as provided, the Second Party duly made, executed, acknowledged and delivered to the First Party a certain mortgage dated October 21st, 1986, conveying and mortgaging to the First Party the following described premises: Lot Three (3), Block Two (2), Fireside Estates Second Subdivision, Hal? County, Nebraska. The Second Party further represents and warrants that he is now owner of the above - described land in fee simple, subject to the above - described mortgage, and the First Party is the legal owner and holder of the aforesaid promissory note. The Second Party desires to have the time for the payment of the note and mortgage extended five (5) years from the date of this agreement. It is mutually agreed that: 1. The First Party will extend the payment of the promissory note for five (5) years from the date of this agreement so long as the Second Party shall pay interest from the date of this agreement at the rate of 12 percent per annum, payable in 59 monthly installments in the amount of Three Hundred Sixty Dollars and 01 /100 ($360.01) commencing lst day of October ,1987 and monthly thereafter on the Ist day of each month and One (1) final payment in the amount of Twenty Five Thousand Four Hundred Fifty -Three Dollars and 34/1.00 ($25,453.34) on the l6t Day of September, 1992, at the place in the note mentioned. covenants, stipulations and agreements of the note and mortgage shall continue in force and effect. The total finance charge is Sixteen Thousand Six Hundred Ninety -Seven and 04/100 Dollars ($16,697.04). 2. The Second Party agrees to accept the extension upon these conditions and agrees to pay interest from the date of this agreement until the sum of Twenty -Nine Thousand Nine Hundred Ninety -Six and 89/100 Dollars ($29,996.89) shall be paid in full, at the rate of 12 percent per annum payable monthly. 3. All covenants, stipulations and agreements of the original note, extension agreement note and /or mortgage shall remain in force and effect. The Second Party agrees that if a default is made in the stipulated payments, then this agreement shall become null and void at the option of the First Party and the note shall become due and payable, and the First party may proceed to collect the debt and foreclose the mortgage at once, notwithstanding anything in this agreement to the contrary. 4. This agreement shall be binding upon and inure to the heirs, executors, administrators, and assignees of each of the parties. FINANCE CHARGE 16,697.04 ANNUAL PERCENTAGE RATE 129 Dated f-17 1987 at Boe//us a Ban cam, Boelus, Nebraska oe us State ® k,, F rst Party t � K. en, ITS President