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<br /> 82'-- ~) i~ ~ 2 9 3
<br /> PROMISSORY NOTE
<br /> '
<br /> $9,000.00 Grand Island,
<br />Nebraska May 28, 1982
<br /> For value received, the undersigned, GREGORY O. STUL,L
<br /> and PENNY L. STLJLL, husband and wife, promise to ,pay to the
<br /> order of M1D-CONTINENT ENTERPRiSES, INC., at 2343 N. Webb
<br /> Road, P. O.-Box 13f5, Grand Island, Nebraska, 68&01, the sum
<br /> of NINE THOUSAND AND NO/l00 DOLLARS ($9,-000.00)."plus inter-
<br /> est at sixteen and one-fialf per cent-.interest `{16~) per
<br /> annum in stallments as Follows:
<br /> 1. On or before May 1, 1984, the undersigned shall pay
<br /> Mid-Continent Enterprises, Snc., $3,000.00`or grincipal
<br /> -2. On or before May 1, 1985, the undersigned shall pay
<br /> Mid-Continent Enterprises, Inc., the remaining $6,000.0G
<br /> balance of principal.
<br /> 3'. Interest on the:'unpaid balance 'at the. rate of
<br /> sixteen and one-half percent"(16~~} per-annum shall be
<br /> payable on May 1,'i983, May 7-. I984, and-May 1, 1985 wish
<br /> the final payment to be made on or before`May°i, 1985.
<br /> If any one or more of the following events should
<br /> happenz there should be'a default in the payment of inter-
<br /> est or'an installment of grncipaL due hereunder, or any
<br /> (maker hereof should make an .assignment for the benefit of
<br /> creditors, or attachment or garnishment proceedings should
<br /> be commenced., or-a receiver be appointed over any property
<br /> of any- maker hereof, ar proceedings be instituted by or
<br /> against any maker hereof under the Bankruptcy-Act, as:amended,
<br /> any legal'haider hereof sha l have-the option, without notice
<br /> or demand, to declare this note immediately due and payable.
<br /> Any legal holder hereof may, k~thoutnotice and without
<br /> releasing the liability of any maker hereof, grant extensions
<br /> or renewals hereof from time t© time and for any term or terms,
<br /> acquire additional security'or release any security in whole
<br /> or in ,part. 'Any legal holder Hereof: shall-not be liable for
<br /> _ar prejudiced by failure to .collect-or for lack of dilligence
<br /> in bringing suit on this note or any:.renewal or_extension
<br /> :.Hereof.
<br /> The makers hereof shall have .the right to-make advance:.
<br /> payments of all or any.pnrtion of the unpaid principal
<br /> balancE at 'any time, provided that all in crest payments 'are
<br /> current and'such prepayments of principal are in even
<br /> increments of $100.00.
<br /> AlI parties hereto waive protest.
<br /> The payment o€ this note is secured by a'second mortgage
<br /> upon Lot £ighteen_{I8} and the North Five Feet (N5'} of Lot
<br /> NineY'een (19} in Block-One (1) in Cont,inentai -Gardens,` an
<br /> Addition to"the City of Grand, Island, Fia1l-County, Nebraska,
<br /> executed at even^. 'date 'herewith.
<br /> ~ "j
<br /> ,
<br />`1 ~ -r-
<br /> "'Gr`-~tjary O. Stull
<br /> . ..
<br />.
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<br /> ?tinny L. Stul3
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