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<br />84 ~ 00525H
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<br />PROMISSORY NOTE
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<br />$22,000,00
<br />
<br />Grand Islend, NE
<br />Oc tober 4::, 1984
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<br />FOR VALUE RECEIVED, Donald E, Mangelsen, a single man,
<br />promises to pay in lawful money of the United States of Amer-
<br />ica, to the order of Donald C, Leisinger and Yvonne J. Leisinger,
<br />the sum of Twenty-Two Thousand DollArs ($22,000.00), with in-
<br />terest at ten (10) percent per annum on the unpaid balance
<br />of principal, the principal and interest payable in monthly
<br />installments of $236,42 per month, commencing on November 1,
<br />1984, and on the first day of each month thereafter for a
<br />total of 180 consecutive months,
<br />
<br />Time is of the essence of this Note; and if Maker fails
<br />for a period of more than 30 days to pay any monthly install-
<br />ment payment when due, the Holder of this Note is given the
<br />option to declare this Note immediately due and payahle, with-
<br />out noti~e or demand.
<br />
<br />Maker waives p:esen~ment for payment, notice of non-
<br />~aym~~n~} prD~~st" t1at:tce or pro.tee and d~ligence in' -?-ririg-'
<br />lng SUl t agaInst any party LO t~-~~ '-~"'Jte, ane Cvll-sc-ut.S tilat
<br />time of payment may be extendev ;4ithout notice.
<br />
<br />A loan amortization schedule showing the allocation of
<br />principal and interest for each monthly installment and the
<br />balanti:' due on principal after each installment payment is
<br />attached hereto and incorporated herein by reference.
<br />
<br />if HaKer tai Is to pay any monthly installment when due,
<br />the unp:;;.id monthly installment of principal of the Note shall
<br />bear interest at the penalty rate of sixteen (16) percent dur-
<br />ing the period of delinquency.
<br />
<br />Haker reserves the right to prepay the unpaid balance
<br />of principal and interest due on this Note on any monthly
<br />installment pay~enl dat~ without penalty as to interest.
<br />
<br />,\11 pdym,~nts to be made by Maker under this Note shall
<br />tit'" made to Pavet':> at whatever place Payees designate in writ-
<br />ltlg, d~llVe[-~J to Maker.
<br />
<br />l'hu; Pr(llllissorv Note is secured by a Purchase Money
<br />Real ~state Mortgage ~iven by Maker to Payees on the follow-
<br />ing d~s~rib~d real estate:
<br />
<br />Lot Two (2) ot Cottage Place, an Addition
<br />[( the City (,f Grand Island, Hall County,
<br />Nebraska, known as 9U8 West Seventh STreet,
<br />Grand Island, Nebraska,
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<br />L,. <"(';/ ,<'}-r;? / ,
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<br />DONAL~ E, MANGELS EN
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