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EXTENSION AND MODIFICATION AGREEMENT 85- 005538
<br />WHEREAS, on September 19, 1983, Merchants Development Co., A Partnership, borrowed from
<br />The First National Bank of ,]rand Island which was merged with Norwest Bank Grand Island, Na-
<br />tional;Association, now merged with Norwest Bank Nebraska, National Association, the principal
<br />sum o{ Ninety -five Thousand Two Hundred Eighty and no /100 DOLLARS ($95,280.00) at 11.75$ per
<br />annum, and gave to said Bank a promissory note which provided for payment to be made as follows:
<br />23 uninterrupted monthly installments of One Thousand Thirty -two and 80/100 DOLLARS
<br />(71,032.80) each month commencing November 15, 1983, and continuing on the same day
<br />each month after that through September 15, 1985. The last payment of Ninety -three
<br />Thousand Six Hundred Twenty -six and 15/100 DOLLARS ($93,626.15) will be due and payable
<br />on October 15, 1985. Final payment is a balloon and lender may consider refinance.
<br />and, WHEREAS, said Note is secured by a mortgage /deed of trust on real estate owned by Merchants
<br />Development, Co., A Partnership, and legally described as follows:
<br />West One Third (113) of Lot Two (2), Block Sixty -four (64), Original Town, now City
<br />of Grand Island, Hall County, Nebraska,
<br />and
<br />West Two Thirds (2/3) of Lot Three (3), Block Sixty -four (64), Original Town, now
<br />City of Grand Island, Ball County, Nebraska.
<br />said mortgage /deed of trust being dated September 19, 1983, and recorded and rerecorded as
<br />Document Numbers 83- 005443,and 84- 000017 in the Mortgage Recorder in the Office of the Register
<br />of Deeds of Hall County, Nebraska, and
<br />WHEREAS, said borrower has requested an extension of time of payment until October 15, 1987,
<br />and has agreed to pay interest at the rate of 11.756 per annum on the unpaid balance and said
<br />Bank has consented to so extend the tame or payment:
<br />NOW, THEREFORE 17 to AGREED by and between the parties that the above- described mortgage/
<br />deed of trust and original promissory note shall be modified to provide for payment to be as
<br />follows:
<br />23 uninterrupted monthly installments of One Thousand Thirty -two and 80 /100 DOLLARS
<br />($1,032,80) each month commencing November 15, 1985, and continuing on the same day
<br />each month after that through September 15, 1987. The last payment of Ninety-one
<br />Thousand Four Hun, red Fifty -one and 66/100 DOLLARS ($91,45'.65) will be due and payable
<br />on October 15, 1987. Final payment is a balloon and lender ma consider refinance.
<br />IT IS FURTHER, AGREED by and between the parties hereto that all of the terms and conditions
<br />of the mortgage /deed of trust :Ind promissory rote above- refer(nce.l to a:: extended and amended
<br />shall cont<nue in full force and affect er.cFpt as herein modified.
<br />Executed this 15th day of October, 1985. MERCHANTS DEVELOPMENT CO., A Partnership
<br />NORWEST,BANK NEg
<br />By:_, �SKA, NATIONAL ASSOCIATION
<br />STATE OF NEBRASKA )
<br />COUNTY OF HALL )
<br />Alvan P. Alms, A Partner
<br />rnar tf n, A Fartner
<br />f,. laded III , A Partner,
<br />yf�S llez rtne
<br />2!C Z ti
<br />F,ic E. Stephens, $ Pa ner
<br />Ronald L. Willman, A Partner
<br />On this 15th day of October, :7F.S, bufure "Ie a '40z"ry Public irl and for said County
<br />p�:rsonall a eared Alvin P.AIm_::, Bern��rr: L. _ ,l
<br />Y PP _ Batten, Fred L. ade 111, John P. Miller
<br />Richard E. Sterhens and Ponald L. Hillman, ali •f the par-trtr 1 Merchant: DevelopmE•r,t_
<br />to me kr:awn to be the person:; named in and who executed the fortpoing is stru:nent ani
<br />acknowledged that thry executed the acme as their, V01unt•er•y act .end deed.
<br />WITNESS my hand and Notarial Seal on thy.' day .:nd ye:,r la_,t wrir ten above.
<br />My eommijr: ion expires:
<br />STAhTE OF NEBkASXA )
<br />COUNTY OF HALL ) n
<br />The ftjregyoiny°, :',3.tr'ume°f:! w•.e. %n••wit °df ;�'d )Cf'Jro mr 1,
<br />by Craig Move[ hA11r. N1:13kAt,KA. NAT: !NAL A- ,;,;x.IAT10N,
<br />f the ur}or,e
<br />Kay 13. 1988 M iti I
<br />-_ --
<br />AMMI truly • hw. NMw
<br />OfSRA H DAVIS
<br />aM E* My I a 11St
<br />�f
<br />..1
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