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f 86-- 103353 LOAN MODIFICATION AGREEMENT THIS LOAN MODIFICATION AGREEMENT made and executed this 15th day of May , 1986, by and between MELVIN H. GOSDA and VIRGINIA MAE GOSDA, husband and wife, hereinafter called the "Borrowers "; and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, NEBRASKA, hereinafter called the "Lender ". W I T N E S S E T H: WHEREAS, the Borrowers have executed a certain Note in the original amount of Forty Thousand Nine Hundred and No /100 Dollars ( ;40,900.00), dated January 3, 1985; WHEREAS, there is presently outstanding a remaining princi- pal sum in respect to said Note in the amount of y Eivht Hundred Sevent -one Dollars & 82/100 ---- - - - - -- - ------ -Dollars ( 40.877..82 ) ; WHEREAS, Borrowers have made application to the Lender to adjust the terms of payment in respect to said Note; and WHEREAS, Lender has agreed to adjust the terms for payment in respect to such Note contingent upon the Borrowers' perform- ance in accordance with the provisions of this Loan Modification Agreement, NOW, THEREFORE, in consideration of the mutual covenants herein contained, it is agreed: 1. In accordance with the terms of this Loan Modification Agreement, the terms in respect to payment of the existing Note dated January 3, 1985, are hereby modified to provide that the remaining principal sum of Forty Thousand Eight Hundred Seventy -one Dollars & 82/1.00 - - - - - -- Dollars ( , ) , with interest from May 7.5 , 1986, on such unpaid principal balance at the annual rate of ten and one -half percent (10.5$), and to provide that such remaining principal and interest shall be payable at the office of The Overland National Bank of Grand Island, or such other place as the holder hereof shall designate in writing delivered or mailed to the Borrowers, in Forty -three ( 43) monthly installments of Three Hundred Eighty- i%,,`e o ars & no - -- Do.11ars ($385.00 ) each, applied first to accrued interest and then to principal commencing on the 15th day of June , 1986, and continuing on the 15th day of each month thereafter, with a final payment of the then remaining principal balance, together with accrued interest, due and payable on the 15th day of January, 1990 2. Except as specifically modified by this Loan Modifica- tion Agreement, all other terms and provisions of the Note dated January 3, 1985, previously executed by the Borrowers shall remain in full force and effect. -1- In U I 01