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IF E!! 11 MPACS LOAN NUMBER: X40- 0070? -0� 85-001087 OWNER (seller): John L. Gerdes PROPERTY ADDRESS: 111 Nest 10th Street CITY & STATE: Grand Island, NE 68601 MORTGAGE ASSUMPTION AGREEMENT 1980 Series X_& B THIS AGREEMENT, entered into this 4th day of March 1985 b and between Nebraska Investment Finance Authority, hereinafter called "Nita ", and (Assumer) : Glenn L. Hurley & Janet L. Hurley , hereinafter called "Borrower" WHEREAS, Borrower desires to purchase the following- described real estate: Lot Three (3) in Block Fourteen (14) in Russel Wheeler's Addition to the City of Grand Island, Hall County, Nebraska WHEREAS, there is recorded in the Mortgage Records of Hall County, Nebraska tw2*@ xxxxxxxxVzxgagsxxxxxxx* a mortgage on said real estate, dated as Document N 80 -0p20 4 May 6 , Y9�, in favor ofThe_ First National Bank of-Grand gland and assigned to the Nebraska Mortgage Finance Fund, (whose successor is the Nebraska Investment Finance Authority), Isx $mschxxxxxx�szxRagRxxxxxxx; and WHEREAS, Borrower, as a part of the purchase price for said real estate, desires to assume said mortgage as described below and pay the obligations secured thereby. The total amount of indebtedness of Borrower to NIFA on account of the herein - before-described note and mortgage as of the date hereof, including all principal. interest and any other amounts due, is $ 35,116.30 , hereinafter referred to as the "principal balance," which Borrower, jointly and severally, promises to pay NIFA, or order, at any Nebraska office of the Servicing Lender, together with interest thereon at the rate of 10.75 percent per annum, in monthly installments of $ 337.00 beginning April 1 , 1985 . It is understood and agreed by the undersigned that the hereinbefore described mortgage shall constitute and remain as security for the payment of the amount due, as above set forth, and that all terms and conditions of said mortgage shall remain in full force and effect. It is further agreed that if within the first four years from May 6. 1.980 (the Date of the Note) the Borrower makes any prepayment to the principal, that in addition to such payment, Borrower shall pay an amount equal to the percentage of principal mount prepaid, as set forth in said note. Borrowers of VA Guaranty loans or FHA insured loans shall be allowed to make prepayments or pay the loan in full, at anytime, without penalty. IN WITNESS WHEREOF, the undersigned have hereunto set their hands the day and year first above written, and agree that this loan shall be governed by the law of Nebraska. Naz'taea't Bank Grand T;�].69R�i, N.A. Servicin; Lender: Borrower: (1h,r,,, By C if J C �� Mss gig iwct:l 7fii.c!t C0-11 rrower NIFA - (4/84) 1980 A 6 B Assumption Agreement _' I