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EXHIBIT P -1 MPACS LOAN NUMBER: 130 - 00419 -01 85-001485 OWNER (seller): Steyen D and an 11 R d PROPERTY ADDRESS: #27 Via Gomo CITY 6 STATE: Grand Island, Nebraska 68801 MORTGAGE ASSUMPTION AGREEMENT 1.980 Series A S B THIS AGREEMENT, entered into this 99th day of March , 19r , by and between Nebraska Investment Finance Authority, hereinafter called "Nifa ", and (Assumer): Rnhert P RrPaman R Charon [ Rraaan hereinafter called "Borrower" WHEREAS, Borrower desires to purchase the following- described real estate: LOT TWENTY -SEVEN (27) IN BLOCK TWO (2) CONTINENTAL GARDENS, AN ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA. WHEREAS, there is recorded in the Mortgage Records of Hail County, Nebraska as Doc. # 80- 001831 , a mortgage on said real estate, dated April 29 19 80 , in favor of The First National Bank of Granti gland and assigned to the Nebraska Mortgage Finance Fund, (whose successor is the Nebraska Investment Finance Authority), ...,as Doc. #80- 001832 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 $ 48,090.26 , 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 r,,ith interest thereon at the rate of 10.75 percent per annum, in monthly installments of $ 462.08 beginning April 1 19 85. 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 April 29, 1980 (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 amount prepaid, as set forth in said note. Borr -veers 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. Narwest Benk Grand ISland, N.A. Servicing Lender: Borrower Robert P. Breaman Mortgage Loan Officer Co- Borrower (.:p0118e5`® Sharon L. BireWMan NIFA - (4/84) 1980 A & rS Anriumpt.ion Agrvr_ment NJ A s i