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<br />~2 -- i~ U fl 9;0 ~3
<br />ASSIGNMENT OF GONTRAGT
<br />~ KNON ALL ~T BY THESE FRESENTS: That. we, At'thur L_ Kirk. and. Debris r.
<br />Kirk,. hs~sband and wife, for and in consideration of the. sum of TWO HUNDRED TNOtiSAND
<br />ANI?-NQ/l00 DOLLARS ($200,:000:..00)., to us in hand .paid by The First Natibnal Eank of
<br />Grand Tsland--, Grand. Tsland., Nebraska, do hereby sell, assign, transfer, and.-set over
<br />to suctE The First National Bank of Grand Island, all sight, title and interest in and
<br />to-that: certain. land cantract dated March 5, 1968, and made. and executed by Lawrence A.
<br />Kirk at~d Verna Kranz Kirk, husband and. wife, as First Parties, copy of which contracr_
<br />is attached hereto and. hereby made a part hereof.
<br />.Be hereby represent. that. there is now remaining ;inpad on such contract the
<br />sum:. of ETGHT THOUSAND AND NS)/100 DOLLARS {58,000.00), and. that there. are no unpaid sums
<br />due either of interest or principal. The object and the purpose of this assignment is
<br />to secure to The First Nmtional fs.ank of Grand Island, Grand Island, Nebraska, the payment
<br />to it of the. total sum of TWO HUNDRED THOUSAND AND NOf10O DOLLARS {$200,000_00), with
<br />interest at 17~ per annum and. adjusted quarterly with The First National Bank of Grand
<br />Tsland grime rate on .June 1, 1,582, September 3, 1982 and December 1, 1582, such note
<br />being payable on March 3, 1983. Interest to be paid on August 30, 1982 and at maturity.
<br />The. undersigned further agree that if The First National Bank of Grand Island;,-
<br />Grand Island, Nebraska, shall :oaks psyments on said contract, either principal,. interest,
<br />or taxes, chat this assignment sha31 operate as security for the. repayment Lo it of alZ
<br />sums sa paid witty interest Pram the date of payment at the rate of two per cent {2%) per-
<br />annum over the rate on the face of the note.
<br />The undersigned further authorize the escrow agent,. when the terms of the
<br />aforesaid. contract have been fully complied with, to deliver to The E'irst National flank
<br />of Grand island, Grand island, Nebraska, any and aZl deals presentiy held by the escrow
<br />agent and further, the undersigned agree to make, execute and deliver to The First
<br />~3atianal Bank of Grand Island a deed conveying such Sand to it.
<br />Zt is understood and mutually agreed that when all sums secured by this
<br />assignment sttali have been paid in full to The First ?rational Bank of Grand Island,
<br />Grand. Tsand, Nebraska, with interest there. n, .hen The first :rational Bank of Grand
<br />Tsland, Grand Island, Nebraska, will reassign said. cantract to the undersigned and in the..
<br />Brent said lands shall have taeen deeded to The First National Bank of Grand .Tsiand, Grand.
<br />Island, Nebraska, as hereintrefore provided far, that then and in that event it will
<br />recbnvey to the undersigned t7y good and sufficient deed covenanting only against: its
<br />own, acts-and subject to all unpaid. taxes and encumbranees to the undezsigned.
<br />Tt is understood and agreed that nothing herein captained sbrll be construed
<br />as a covenant or agreement cn the. part. of The First National Bank of Grand Tsland, Grand
<br />Island, Nebraska., to assume ar to pay any part of the purchase price of said lands or
<br />any-taxcros or encusibranees thereon.
<br />We, theundersiga:ed, further txereby agree. that we will make all payments to
<br />be evade an such contracts according to the terms. o£ such contracts and will .make the
<br />some vtaen thec become due according to the terns of saki cantract.
<br />Tc is understood and agreed that. tfzis contrast shall be hind.ing upon and. shall
<br />` inure. to tt~e benefit of the heirs, executors, administrators, successors, sad a.9signa of r'
<br />f the. parties hereto.
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