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<br />EXHIBIT P-1
<br />
<br />84 - 006209
<br />
<br />MPACS LOAN NUMBER: 130-038U6-01
<br />OWNER (seller): Bernice J. Allen (Melvin is deceased)
<br />PROPERTY ADDRESS: 1410 N. Custer
<br />CITY & STATE: Grand Island, Nebraska
<br />
<br />MORTGAGE ASSUMPTION AGREEMENT
<br />1980 Series A & B
<br />
<br />THIS AGREEMENT. entered into this 26th day of November , 19~, by'and
<br />between Nebraska Invest_nt Finance Authority, hereinafter called "Nita", and
<br />
<br />(A._uliCrji Emil A. & Isabelle A. Ruzicka
<br />
<br />, hereinaft:er'called "Borrower"
<br />
<br />WHEREAS, Borrower desires to purchase the following-described real estate:
<br />
<br />Lot Two, Calvary Subdivision, City of Grand Island, Hall County, Nebraska.
<br />
<br />WHEREAS. there is recorded in the Mortgage Records of Hall County.
<br />Nebraaka as Document #81-000269 , a mortgage on said real estate, dated
<br />January 16 , 19~, in favor of State Bank Palmer, Nebraska
<br />and aasigned to tbe Nebraslta Mortgage Finance Fund, (whose successor is tbe Nebr.aka
<br />Investment Finance Authority), as Document # 81-000270 ,; and
<br />WHEREAS, Borrower, as a part of the purchase price for said real estate. desires
<br />to a..ume said mortgage as described below and pay the obligations secured thereby.
<br />The total amount of indebtedness of Borrower to NIFA on account of the herein-
<br />before-deacribed note and mortgage as of the date hereof, including all principal.
<br />interest and any other amounts due, is $ 36,232,04 , hereinafter referred to aa
<br />the "principal balance," which Borrower, jointly and severally, promises to pay NIPA.
<br />or order, at any Nebraska office of the Servicing Lender, together vith interest thereon
<br />at the rste of ~ percent per annum, in monthly installments of $ 345.39
<br />beginning December 1 , 19~.
<br />It is understood and agreed by the undersigned that the hereinbeforede8cribed
<br />.ortgage shall constitute and remain as security for the payment of,the amQuntdue. ..
<br />above set forth, and that all terms and conditions of said mortgage shall remain in
<br />full force and effect.
<br />It is further agreed that if within the first four years frolll January 16, l$~t
<br />(the Date of the Note) the Borrower makes any prepayment to the principal. that in
<br />addition to such payment. Borrower shall pay an amount equal to the pereentase of
<br />principal amount prepaid, as set forth in said note. Borrowers of VA Guaranty loan'
<br />or FHA insured loans shall be allowed to make prepayments or pay the loan in full. at
<br />anyt~, without penalty.
<br />IN WITNESS WHEREOF. the undersigned have hereunto set their hands the day and year
<br />flrat above written, and agree that this loan shall be governed by the law of Nebraa~,
<br />
<br />Norwest Bank Grand Is land. N,A,
<br />Servicing Len4er:
<br />
<br />_:_:".f
<br />, ~-"">>Y-'""'(-
<br />Borrower:
<br />
<br />/j
<br />A .~A~~;?,~k,;b-<v
<br />
<br />..,....;.}
<br />
<br />.-(
<br />Emil
<br />
<br />~
<br />
<br />aYl
<br />
<br />
<br />;') " 1'., I/o; f~ ;/;:-- /(_~/' ,C! _~, }
<br />1(, '-~'lL'C; ~1~/"[/ '_/, ,/[,.-'f-'~'~"L:''<'''''''i''',~-tt......---
<br />Co-Borrower (spouse): J~belle A. Ruzicka
<br />
<br />KIf A - (4/84)
<br />1980 A. .. B ""'tion Aar._t
<br />
<br />
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