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<br />. _._,,____________, ~_.___ .~._._<L_,~___..
<br />
<br />LOAN MODIFICATION AND ASSUMPTION
<br />AGREEMENT WITH RELEASE
<br />
<br />84 ~ 005377
<br />
<br />WHERE.AS, Hor~E FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter
<br />referred to as HHome Federali1, loaned RAYf"10ND (. 5TJ\HLA AND DIANNt. K. STAHLA-, husoand
<br />~nrl ldife
<br />herdinafter referred to c;s HBorrot.iers", the original principal sum of ONE HUNDRED TEN
<br />THOUSAND AND NO/IOO---------------------------------------- Dollars ($ 110.000.00 ),
<br />as evidenced by a mortgage note dated February 25. 1980 ,and secured by a
<br />mortgage/deed of trust dated Febraury 25. 1980 and recorded as Document
<br />No. BO-D00846 in the Office of the Register of Deeds in HALL County,
<br />NEBRASKA : and
<br />
<br />luHEREAS, said Bo'rrowers have sold to the undersigned Purchasers the property
<br />legally described as:
<br />
<br />LOT TWO (2j IN HIDDEN LAKES SUBOIVISION NUMBER ONE (1), A SUBDIVISION OF THE SOUTHEAST
<br />QUARTER OF THE NORTHEAST QUARTER (SEtNEt) AND THE NORTH HALF OF THE NORTHEAST QUARTER
<br />OF THE SOUTHEAST QUARTER (N~NUSU) OF SECTION THIRTEEN (13), TOWNSHIP ELEI/EN (ll)
<br />NORTH, R.ANGE NHiE (9) WEST OF THE 6TH P,M., IN rlAI_L COUNTY, NEBRASKA.
<br />
<br />
<br />and
<br />
<br />~HEREAS. Purchasers desire to assume and pay the rema~n~ng indebtedness described
<br />above as evidenced by che aforementioned note and mortgage/deed of trust; and
<br />
<br />UHERE~S, borrowers .Jesire to be released from any further obligation in respect
<br />to the 3bove described note dnd mortgage/deed of trust; and
<br />
<br />WHERE~5. Home '20en1 ,:-; willing to permit the assumption by Purchasers of the
<br />r:ote anC1 mortgage/deed elf trust and release the Borrowers from the obligations evi...
<br />Genceo by the arcredesc:-i::n20 n::<te and mortgage/deed of trust; subject, however,,_ to:
<br />a reuisi0n of the te~MS cf payment of said indebtedness,
<br />
<br />NOW, THEREFORE, -l.-; c__J,,~ideration of the mutual covenants herein contained. it
<br />is Bar-seo:
<br />
<br />1 . T~e unders igned P,-,['chasers hereby assume and agree to pay the remaln~ng in-
<br />debteonBss evidenced tJy ~t1(! drcredescribed nlJte and mortgage/deed of trust and pe.rfam
<br />311 cf :hs -:oligatior-s orG'Jided tnerein and as modified hereby, it being agreed and
<br />JnderstC.-Cd that as .:_:r tnl:: dat? ,-aid indebtedness is ONE H~QNRED EIGHT T~oUSANo A~ IYDl100
<br />_ ----::=-:-=-:.=...::.:::_------------------------------Do11ars ( 108.000.00.
<br />
<br />". Tn", terms '" the repayment of the debt evidencedby the aforedescribed note
<br />.,lnd mcrtgagieideeo of trust arc" hereoy modified in that interest upon the unpaid balance
<br />(Jf :~.Jid ::~c2b:2J;';e::_:.,;~ ;::.h311 t1~, ~t, the rate of e~even and ,gG~L~grcent (lJ.t..~) per 3ni"_tIft,
<br />3n:J :'hat mon~hl Y S2y:nent::; _-:;hd.i~ ~e made commenCing on the 1 st day of nrtnhQT' t
<br />~:3 84, a,a :ontinuin;:;l' tne 1 st day of each month thereafter , it being further
<br />~icJr2e,j that susn payments c,ro,,)} ~)2 in the amount of flNF THOIISA~f) SfliENTY FTr,HT lllio.lllLlOO
<br />-------------------------------------- Dollars ($ 1.G7R 10 pt7 month, to be ap~
<br />,:li"d first to j,.,te;?st a~d the balance to principal until said indebtedness is paid
<br />::-: full, 3nd that, in ajc.iition, ~~,aid Purchasers will Day the sum of (l~F HlINORFn FTf:HTY
<br />
<br />T4RL~ ~~~ ~l :uJ---------------------_________________________________________ ______________
<br />Dollars (5 153.00 pel' month in escrow estimated sufficient to pay taxes ~
<br />~~l!\fl0iH<!!\~ on said ::Jrcperty. which :?stimate may be revised from time to time by Home
<br />Federal. rrakinq a tot,d current payment Of CiNE THOUSi\NO TWO Hl!NOREDS1XTY ONE 'IND lO(iQO
<br />-------------------------------QQllars ($ 1.2F:,1.1~::J ) per month.
<br />
<br />~X;""i::;Jt 3::', :"7;,_x1ifi~n heretJy. ~.he note ,1'n~i mort.gH.ge/deed of t.rust above described
<br />~3ndl1. r-emdi:-, in f_J-~j FurL;': and eftect, FlU t~lP 011'jQl'signed Purchasers promise to pay
<br />";die] indebt.e[jflc~~;s 35 ~1~}rpin :;tateC: and tn perf'c;:'; ~d..l of the obligations of said mort-
<br />'_;a-:;;e/de~,j ,.'\f ~r\..jst ..':13 hc-:rc ~;' revised..
<br />
<br />,:".. i-}y rS',J~-,',::ri .f th: l ;:'3f1 iyt~),-~ifi
<br />!"H~r-('by r21eJse~:. T,'~ d~:.-\c:r',J: ,]e~_; LhfJ irdel .~ilJflf>J
<br />--,'::1 i,jdt::ion Upuf1 .dl:J J'..;dRUr.'}~Jj'1i2:.;5.
<br />
<br />1;'llJ j.\~:.):..~umpt,ion ~~qreefTIen-L, f-hlme F(~cjeral
<br />':[ ,iqiridl ;-~Qrr\')lJJGr;.) from their p(~r':;undl
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