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PROMISSORY NOTE ~d~""'° 1)u043~ $4.8:,000.00 Grand Island, NE c; n. j~. l~e'S'.r- Date FOR VALUE RECEIVED, the undersigned, jointly and severally, premise to pay to the order of MICHAEL L. WENZL and .7EAN A. WENZL, as joint. tenants, of 4240 Pennsylvania Ave. GYand Island, Nekxr. or at such other place as the holder hereof may designate in writ- ing-,. the principal sum of Forty-Eight Thousand Dollars---($48,.000.00), in lawful money of the United States, with interest from February 19, 1982, at thirteen (13) percent per annum on the principal bal- ance. Principal and interest shall be due and payable as follows: A. Principal only in the amount of $28,000.00, payable on February 19, 1982; B, Principal in tine amount of $20,000.00, payable on August 1, 1982, plus interest, at thirteen (13) percent per annum computed from February i9, 1982. Principal may be paid in part or in full prior to maturity without penalty as to interest. If default is made in the payment of said principal or inter- est or any Bart thereof after the same become due or if default is made in any of the terms of the Mortgage securing this Promissory Note, the entire principal balance and accrued interest shall, at once, became due and. payable at the option of the holder of this Note. Failure to exercise such option on any one occasion shall not constitute a waiver of the right to exercise it in the event of any subsequent default. At maturity, whether by acceleration or otherwise, this Note shall bear interest at the rate of sixteen (16} percent per annum as permitted by law. Ai parties hereto waive protest, presentment and demand. 'This Promissory Note is secured by a Mortgage on the foilowing- described real es*_ate. Lot Five (5) in Bloek :wa (2) in Capital Heights Subdivision,. being a part of the Southeast (quarter of the Southwest quarter (SE~iSW~) of Section 'Two (2}, Township Eleven (11) North, Range Ten (10), hest of -tare 6th P.M., Hali County, Nebraska. Duane E. Baker -?f- ~u11a r1, a1cPr ~.4