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85- 004227
<br />MUTUAL RELEASE OF LEASES,
<br />AND ASSUMPTION OF MORTGAGE
<br />ON LEASEHOLD ESTATE
<br />THIS AGREEMENT made and entered into or. August 8, 1985,
<br />by and between Five Points Bank, a Nebraska corporation, with
<br />principal offices at Grand Island, Hall County, Nebraska, and
<br />Milan D. Bish, of Grand Island, Hall County, Nebraska.
<br />WHEREAS, said Five Points Bank leased to Milan D. Bish on
<br />March 30, 1971, the following described real property:
<br />Part of Lot Six (6) of Home Subdivision of that
<br />part Qf the Northwest Quarter (NW;) of Section
<br />Nine (9), Township Eleven (11) North, Range Nine
<br />(9) West of the 6th P.M., which lies west of
<br />Wheeler Avenue as surveyed, platted and recorded
<br />and described as follows: Beginning at the
<br />Northwest (NW) corner of Lot Six (6), thence
<br />southerly One Hundred Thirty -Five Feet (1371)
<br />along the westerly line of said Lot Six (6),
<br />then easterly Two Hundred Fifty Feet (250')
<br />parallel to the northerly line of said Lot Six
<br />(6), thence northerly One Hundred Thirty -Five
<br />Feet (1351) parallel to the westerly line of
<br />said Lot Six (6), thence westerly Two Hundred
<br />Fifty Feet (250') along the northerly line of
<br />said Lot Six (6) to the point of beginning,
<br />together with an easement and the right of
<br />ingress and egress over the northerly Twenty -
<br />Five Feet (25') of the southerlv One Hundred
<br />Ninety -Five Feet (1951) of the westerly Two
<br />Hundred Fifty Feet (250') of said Lot Six (6),
<br />together with all buildings and =,provements
<br />on the sane,
<br />a short -form lease of which lease is recorded at Book 22, Page 224,
<br />of Miscellaneous Records in the Register of Deeds Office of Hall
<br />County, Nebraska; and
<br />WHEREAS, Milan D. Bish, leased the aforedescriben real property
<br />to said Five Points Bank on October 1, 1971, a short -form lease of
<br />which is recorded at Book 22, Page 225, of 'Miscellaneous Records in
<br />the Office of the Register of Deeds of Hail County, Nebraska; and
<br />WHEREAS, said Milan D. Bish executed a mortgage of the lease-
<br />hold estate in and to said real property to the Commercial National
<br />Bank & Trust Co. of Grand Island, Nebraska, on October 1, 1971,
<br />which mortgage is recorded at Book 155, Page 500, of Mortgage
<br />Records at the office of the Register of Deeds of Hall County,
<br />Nebraska; and
<br />WHEREAS, Omaha National Bank, Grand Island, is the successor
<br />in interest to Commercial National Bank & Trust Co. of Grand
<br />Island in and to the aforedescribed mrtgage of leasehold f_- state;
<br />and
<br />WHEREAS, said Five Points Bani, and Milan D. Bish now agree
<br />to release each other from the terms and conditions of the leases
<br />aforesaid and Five Points Bank agrees to assume the balance iiuc
<br />from Milan D. Bish to Omaha National Bank, Grand Island, (successor
<br />in interest to Commercial National Bank & Trust Co. Jut: by virtue
<br />of the E )romissory note from Milan D. Bish securi��d by the afaresaiu
<br />mortgage, of leasehold estate),
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