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~ 200900794 Loan No.: 40160772 the real property described being set forth as follows: LOT ONE (1), JOHN VOITLE'S SECOND SUBDIVISION, TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA. PARCEL ID NUMBER: 400429969 In consideration of the mutual promises and agreements exchanged, the parties hereto agree as follows (notwithstanding anything to the contrary contained in the Note or Security Instrument): 1. As of July 1 st, 2008 , the amount payable under the Note and the Security Instrument (the "Unpaid Principal Balance") is U.S. $ 92,265.17 , consisting of the unpaid amount(s) loaned to Borrower by Lender plus any interest and other amounts capitalized. Borrower promises to pay the Unpaid Principal Balance, plus interest, to the order of Lender. 2. Initial TemDorarv Fixed Interest Rate andPavment: Interest will be charged on the Unpaid Principal Balance at the yearly fixed rate of 7.340 %, from July 1st, 2008 until June 1st, 2010 Borrower promises to make twenty-four (24) monthly payments ofprincipaI and interest of U.S. $647.87 beginning on the I st day of August , 2008 . Borrower will continue making monthly principal and interest payments on the same day of each succeeding month until July 1st, 20 I 0 3. Adiustable Interest Rate and Pavment: Interest will be charged on the Unpaid Principal Balance from July 1 st, 2010 . The interest rate Borrower will pay will be determined in accordance with the terms of the Note and may change every six (6) months in accordance with the terms ofthe Note. Borrower promises to make monthly payments of principal and interest beginning on the I st day of August , 2010 . The amount of Borrower's monthly principal and interest payments will be determined in accordance with the terms of the Note and may change in accordance with the terms of the Note. Borrower wiH continue to make monthly payments on the same day of each succeeding month until principal and interest are paid in full, except that, if not sooner paid, the final payment of principal and interest shall be due and payable on the I st day of July , 2036 , which is the present or extended Maturity Date. Borrower understands and acknowledges that the Note contains provisions allowing for changes in the interest rate and the monthly payment. The Note limits the amount the Borrower's interest rate can change at anyone time and the maximum rate the Borrower must pay. 4. If on the Maturity Date, Borrower still owes amounts Wlder the Note and the Security Instrument, as amended by this Agreement, Borrower will pay these amounts in full on the Maturity Date. 5. If the Borrower has, since inception of this loan but prior to this Agreement, received a discharge in a Chapter 7 bankruptcy, and there having been no valid reaffirmation agreement of the underlying debt, by entering into this Agreement, the Lender is not attempting to re-establish any personal liability for the underlying debt. 6. Borrower understands and agrees that: (a) All the rights and remedies, stipulations, and conditions contained in the Security Instrument relating to default in the making of payments under the Security Instrument shall also apply to default in the making of the modified payments hereunder. (b) AU covenants, agreements, stipulations, and conditions in the Note and Security Instrument shall be and remain in full force and effect, except as herein modified, and none of the Borrower's obligations or liabilities under the Note and Security Instrument shall be diminished or released by any provisions hereof, nor shall this Agreement in any way impair, diminish, or affect any of Lender's rights under or remedies on the Note and Security Instrument, whether such rights or remedies arise thereunder or by operation of law. Also, all rights of recourse to which Lender is presently entitled against any property or any other persons in any way obligated for, or liable on, the Note and Security Instrument are expressly reserved by Lender. l\EBRASKA LOAN MODIFICATION AGREEMENT-FIXED/ARM (FNMA Form 3161 6/06)-Modil1ed Pa!;e 2 of4