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PROMISSORY NOTE <br />$4,900.00 Grand Island, Nebraska <br />86- 101981 <br />June 29, 1984 <br />For value received, the undersigned, Daniel A. Wenzel <br />and Joy L. Wenzel, husband and wife, promise to pay to the <br />order of Mid- Continent Enterprises, Inc., at Grand Island, <br />Nebraska, the sum of Four Thousand Nine Hundred and No /100 <br />Dollars ($4,900.00). The entire balance of this note shall <br />become due within thirty -six (36) months of the date of this <br />note. No scheduled payments need to be paid on this account <br />during the thirty -six (36) month period, however periodical <br />payments may be made. Interest on t'cie unpaid balance hereof <br />from the date hereof is at the rate of nine percent (9 %) <br />per annum payable annually on the anniversary date of this <br />note. <br />If any one or more of the following events should <br />happen.: there should be a default in the payment of interest <br />or an installment of principal due hereunder, or any maker <br />hereof should make an assignment for the benefit of creditors, <br />or attachment or garnishment proceedings should be commenced, <br />or a receiver be appointed over any property of any maker <br />hereof, or proceedings be instituted by or against any maker <br />hereof under the Bankruptcy Act, as amended, any legal <br />holder hereof shall have the option, without notice or <br />demand, to declare this note immediately due and payable. <br />Any legal holder hereof may, without notice and without <br />releasing the liability of any maker hereof, grant extensions <br />or .renewals hereof from time to time and for any term or <br />terms, acquire additional security, or release any security <br />in whole or in part. Any legal holder hereof shall not be <br />liable for or prejudiced by failure to collect or for lack <br />of diligence in bringing suit on this note or any renewal or <br />extension hereof. <br />All parties hereto waive protest. <br />The parent of this note is secured by a second mortgage <br />upon. Saite 4,D Windsor Square Property Regime, Unit Four <br />(4), mot. Two (2), Block Eight (8), Replat Continental Gardens, <br />an addition to the City of Grand Island, Hall County, Nebraska, <br />executed at even date herewith. <br />Janie! T,. v7enzfl J t") <br />i <br />I <br />