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<br />MULTIFAMILY NOTE 86-- 105855
<br />Grand Island .................... Nebraska
<br />city
<br />October 15 ... lq 86
<br />........... ....
<br />...........................
<br />fiat VALuE RscmvEO, the undersigned promise to pay ........... $ uperior„ 4ortg§& 9A ... T.nc , .............................
<br />.................................... . ....................................... . ....................................................... I ...... .................... or order, the
<br />principal sum of ...... TW.9..1U.111411.. .a115 .. .----. --�����— °------------- --- -- - - --
<br />................................................. ...............................
<br />Dollars, with interest on the unpaid principal balance from the
<br />.... .........
<br />date of this Note, until paid, at the rate of ....IQ... percent per annum. The principal and interest shall be payable at
<br />�IAMa...(! O. i. Q2 ......... ...............................
<br />or such other place as the holder hereof may designate in writing, in consecutive monthly installments of ................
<br />SIRV RBtrRRA ..TiIARRAa1d.. F�YR..H71UlfIINt1.. F ... i1R.— RAd.. 4�eJ. 1QQ---------- ...- .........- .------- .. - - - - -.
<br />Dollars (US 5.... ~.- -..... -- .- - - -..) on the ..III&........: day of each month beginning
<br />.A49R11611t < ........................... 19 ...Rfl ( herein "amortization commencement date"). until the entire indebtedness
<br />evidenced hereby is fully paid, except that any remaining indebtedness, if not sooner paid, shall be due and payable
<br />on .. Havetabcx.. 1.... 1. 9. 55 . ................ .......... . ..•
<br />If any installment under this Note is not paid when due, the entire principal amount outstanding hereunder and
<br />accrued interest thereon shall at once become due and payable, at the option of the holder hereof The holder hereof
<br />may exercise this option to accelerate during any default by the undersigned regardless of any prior forbearance. In
<br />the event of any default in the payment of this Note, and if the same is referred to an attorney at law for collection or
<br />any action at law or in equity is brought with respect hereto, the undersigned shall pay the holder hereof all expenses
<br />and costs.
<br />If any installment under this Note is not received by the holder hereof within ....... (. TeO --- 10.....................
<br />calendar days after the installment is due, the undersigned shall pay to the holder hereof a late charge of .5.......
<br />percent of such installment, such late charge to be immediately due and payable without demand by the holder
<br />hereof. if any installment under this Note remains past due for ...(11119 y .. 3Q,,,,,,,,,,,,,,,,,„ calendar days or more.
<br />the outstanding principal balance of this Note shall bear interest during the period in which the undersigned is in
<br />default at a rate of ..12..... percent per annum, or, if such increased rate of interest may not be collected from the
<br />undersigned under applicable law, then at the maximum increased rate of interest, if any, which may be collected
<br />from the undersigned under applicable law.
<br />On and after, but trot prior to ........_ ............... ............................... 19......... ( "prepayment permitted date "),
<br />wade d may make partial prepayments of principal without charge provided that the aggregat such
<br />pre payments not exceed in any one ban prepayment year ........... percent of the original princi cunt of this
<br />Note ( "allowable p ment" ). For purposes of this paragraph, "loan prepayment year" m each twelve month
<br />period beginning with the ment permitted date or an anniversary date thereof. P yments of principal which
<br />in any loan prepayment year excee allowable prepayment ( "excess prepa ") may be made provided that
<br />the undersigned gives the holder he written notice of the amounts to be prepaid at least
<br />days prior to such ments and tded further that the undersigned pays to the
<br />fin holder hereof together with each such prepayment One u payments occurring as a result of the acceleration by
<br />. F.M the holder hereof of the principal amount of this te, b cluding prepayments occurring because of the
<br />application by the holder hereof of insurance o demnatiun awards oceeds pursuant to a Mortgage or Deed of
<br />Trust securing this Note) a prepaym remium. In the first 1 ................... ....................... 1* loan prepayment
<br />year(s), the prepayment premi all be an amount equal to ............. percent o excess prepayments. The
<br />percentage used to calcula a prepayment premium shall decline by the number ................... ....................... in the
<br />............................... ........... loan prepayment year and in every 1................ ..............................1 • repayment
<br />year therea ntil the percentage payable on excess prepayments is ........... percent, which percentages used
<br />to cal the prepayment premium which shall be payable on excess prepayments during the remaining term o
<br />Prepayments shall be applied against the outstanding principal balance of this Note and shall not extend or
<br />postpone the due date of any subsequent monthly installments or change the amount of such installments, unless the
<br />holder hereof shall agree otherwise in writing. The holder hereof may require that any partial prepayments be made
<br />on the date monthly installments are due and be in the amount of that part of one or more monthly installments which
<br />would be applicable to principal.
<br />From time to time, without affecting the obligation of the undersigned or the successors or assigns of the
<br />undersigned to pay the outstanding principal balance of this Note and observe the covenants of the undersigned
<br />contained herein, without affecting the guaranty of any person, corporation, partnership or other entity for payment of
<br />the outstanding principal balance of this Note, without giving notice to or obtaining the consent of the undersigned,
<br />the successors or assigns of the undersigned or guarantors, and without liability on the pan of the holder hereof, the
<br />holder hereof may, at the option of the holder hereof, extend the time for payment of said outstanding principal
<br />balance or any part thereof, reduce the payments thereon, release anyone Gable on any of said outstanding principal
<br />balance, aoxpt a renewal of this Note, modify the terms and time of payment of said outstanding principal balance,
<br />join in any extension or subordination agreement, release any security given herefor, take or release other or
<br />additional security. and agree in writing with the undersigned to modify the rate of interest or period of amortization
<br />of this Note or change the amount of the monthly installments payable hereunder
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<br />NEBRASKA -- Multifamily 1177 - FNMA /FIf1.MC Uniform Instrument Form 41.18
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