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86-.. 103350 PROMISSORY NOTE $20,000.00 Grand Island, Nebraska T nc j t( 1 1986 FOR VALUE RECEIVED, the undersigned, jointly and severally, promise to pay to Stanley S. Sedlacek and Nancy J. Sedlacek, husband and wife, the sum of TWENTY THOUSMD AND NO /100------------ - - - - -- -- ($20,000.00 ) in lawful money o t -e United States with interest from t -e ate hereof, at 100 per annum on the balance remaining from said time. Principal and interest shall be due and payable as follows: Monthly installments in the amount of TWO HUNDRED SIXTY -FOUR Dollars and i. 31 Cents ($ 264.31 ) eginnng on t e isth day off— JULY 86, an on the same day of each succeeding mont t erea ter until tTie principal and interest are fully paid; provided, that the 120th and final payment, if not sooner paid, shall be due and payable JUNE 15, 1996 years from the date hereof. In addition to any ou'er penalty, a late charge of $25.00 for any payment not made within ten (10) days of due date,__sffall be payable to the holders hereof. If default is made in the payment of said principal and interest or any part thereof, for a period of ten days after the same becomes due and payable, or if default is made in any of the agreements contained in the mortgage securing this note, the entire prinicipal sum and accrued interest shall at once become due and payable, wihtout notice, at the option of the holders of this note. Failure co exercise such option shall not constitute a waiver of the right to exercise it in the event of any subsequent default. At maturity, whether by acceleration or otherwise, this note shall bear interest at the maximum legal rate allowed by law until paid. The undersigned makers hereby expressly reserve the right to prepay in any multiple of the monthly payments at any time wihtout penalty as to interest on such prepayments. The makers, jointly and severally, waive diligent presentment, protest and demand, notice of protests, dishonor and non - payment of this note. This Promissory Note is secured by a mortgage executed on even date herewith, on the following described real estate. Fractional Fractional Lot Five (5), Block Seven (7), Arnold Place, in the City of Grand island, Hall County, Nebraska.