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<br />84"- 005208
<br />LOAN MODIFICATION AND ASSU~TION
<br />AGREE~NT WITH RELEASE
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<br />WHEREAS, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRANO ISLAND, hereinafter
<br />i'eferred to as "Home Federal", loaned CARL R. HAGAN AND DEBORAH J. HAGAN, ~usband and wife
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<br />hereinafter referred to 3S "80rrOltlers", U',e CJr.i.glnal principal sum of FORTY THOUSAND
<br />AND NO/lOO---------------------------------------------------~-~ollars ($ 40,000.00 ),
<br />ic.S evidenced by a mortgage note dated June 15, 1982 . and secured by a
<br />mortgage/deed of trust dated June 15, 19B2 and cecorded as Document
<br />f~o. in the Office of the Regis~er of Deeds in HALL County,
<br />NEBRASKA : and
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<br />GJHERE AS. :';-3 iLl l3crrOUlP! '~, ~-uve sollj to the undersigned Purchasers the- property
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<br />legally descriG2G 25:
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<br />LOT SEVEN (7) IN BLOCK FOUR (4) IN VALLEY VIEW SUBDIVISION, IN THE NORTH 1103.0 FEET
<br />OF THE EAST HALF OF THE NORTHEAST QUARTER (E~NEi;) OF SECTION TWENTY TWO (22) IN
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<br />TOWNSHIP ELEVEN (ll) NORTH, RANGE NINE (9) WEST OF THE 6TH P.M., AN AOOITImJ TO
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<br />;'~Ouj. THt)1t.YOf-ii:., ..." consideration of the mutual covenants herein
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<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
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<br />.lnd
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<br />'_tJHEqi.i1S, Purchasers desire to assume ,~::" '1':'/ the raffia': lIng indebtedness
<br />,1:-h1Vt: dS evidenced t:y the ;:]fD~emerl~:iD~ed f)()t,,: dnd mortgage/deed of .trust; and.
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<br />WhLREAS. i.ifJHOW2P" desire to be released from any further
<br />'u tilL above descr iberi note and mortgage! deed of trust; and
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<br />UHr~R[AS, Home F\;:(je;:al is willing to permit the assumption by
<br />;;0~,E~ 3nd raortgage/deed :Jf trust and release the Borrowers from the
<br />'Jf~nc;::d L'y the -3fcr80E'5Crit.ed note .and mortgage/deed of trust; s!lbject,
<br />o\.._i~:iuil ,-'sf ~Yi!': t::t;-i"':: -,f odymt'nt of said incleLJtednes5.
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<br />_.' d~l~'eed:
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<br />1. The une,', "n,o, '\.Jl'ct13sers hereby assume and agree to pay the remainiri!,l,.,i~"/;;
<br />"("('n('~'" r".;]dr"Cld hI' tl"", af:JredescrltJed note i)nd nlnrtgilge!deed of trust andpe,rfotlft",;o,
<br />,,1 "t ;:t,c GDli:::'dtio'ls pl'cdJe,j therein and a" modified hereby, it being. a9t~~_l!loQ,:,j
<br />"nj"l"',tQ:]c1 that dS I);" 'hL ;::J"te 53io indebtedness is THIRTY FIVE THOUSANOANOIIIO/1OQ..
<br />.:,::.=-_-----------------------------------------Dollars ($ 35,000.00 ).
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<br />The t.~-~:-t11S ';f tr1e repayment of the debt e\Jidencedby the 'afor;edescr'i.~' '~~~.':'i~;
<br />:l'! 'ii', Itgdg8/0>,'c)jA tl'U~t ,HE' hereby modified in that interr3t ~~ t~';;~111q)lal,~k '
<br />> >"'1::' lpdebtednes,; 9KI11 t)f? i1t the rate of twelve & three( ~~l'i:!~nt ~'!'''l'',p"r'~!i
<br />',_-1 : h,'lt :~nnthl Y p2ymepts s.hall be made commencing on the 1st day M---' -'JQ~b$:~;S-~..~.,:.:<',~~:-',':~,.,:_,<-::,'.-',','>.
<br />jJ~, and (.ontir;ui"1s en tne ~ day of each month thereafter, it beifl9,f'wrthiiJi.")":"
<br />(1 c','.- chat such p"yment" shall be in the amount of THREE HUNORe:oEIGHTYFOU&ANft4~roa
<br />-----------------------------------------Qollars ($ 384.40 ) per month,to~ap;.
<br />--~i"d fi:'st to ir;terest and the balance to principal until said indebtedness is~(,f"
<br />full. l"1C,' t"dt, in .3ddi tion, said Purchasers will pay the sum of EIGHT'fNlNE ANO'~,
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<br />~; { ~ ~~ - -!,-~~&.=~,- - ~,~ ~- - "~~r~ ~~ - -i :,- - ~~~ ;~: - -e-s-t-i-;;t-;d- - ::;; i ~ i ~~~ - -;; - ;~;--;;x~;;~;~
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<br />'f\L'~ ';",J ,:{,}jUity, whiCh estimate may be revised from time to timeb)'~.
<br />""'"1-.,1, "'dk inq tut,d current payment of FOUR HUNDRED SEVENTY THREE AND 87/100.,.~..l''''-
<br />~-------------~----------------- Jollars ($ 483.87 ) per month.
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<br />:XL'~ijt'E; -',xii!' ipC' 'leI ",by , the note and mortyage/ deed of trust above described
<br />"ul ~ '--,-"~rHJin in fu.l i forc~-' i'jrlC; t~ffect, 3no the '/f1dersigned PurChasers promise to pay
<br />:d in~jpr.jt.~ ~'lnf-'S.:::~ h~ t1!:'~'eiJ-\ :-,;L1ted anl1 tc pEr-fOlm <.L11 uf the obligations of said mort-
<br />1 ;~-'. ,Jj'~:d ',it '_,' ,t C. hi:-_~[\, in :'P\dt:)t~~d.
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<br />;.f thi ~J:'lli MC;difi(,lti.on Jlii_!
<br />:(d:',Jt ; ::_h^'_' un(}e-r~;jcF,i.::..j
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<br />q~~St,rn[,tifJn 1i9r.'t:~-;ment t Home F EJdpral
<br />'-"dl J,,-Jr-rC.iuJEl~;' from their ~)t:r5,c-rliJ,1
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