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8 2 ---~_ ~' l ~ ~ ~ { PROMISSORY NOTE $5,250.00 Grand Island, Nebraska November 1, 1982 For value received, the undersigned, WAYNE SMITH d/b/a S & S CONSTRUCTION, promises to pay to the order of GERALD FREDERIKSEN and L. JUNE FREDERIKSEN, husband and wife, as joint tenants with right of survivorship, at Grand Island, Nebraska, the sum of FIVE THOUSAND TWO HUNDRED FIFTY AND NO/100 DOLLARS ($5,250.00) in installments as follows: $2,625.00 on November 1, 1983 and $2,625.00 on November 1, 1984, together with interest on the unpaid balance hereof from the date hereof at the rate of ten percent (10~) per annum payable annually on the same dates installments of principal are due. If any one or more of the following events should happen: there should be a default in the payment of inter- est or an installment of principal due hereunder, or any maker hereof should make an assignment for the benefit of creditors, or attachment or garnishment proceedings should be commenced, or a receiver be appointed over any property of any maker hereof, or proceedings be instituted by or against any maker hereof under the Bankruptcy Act, as amended, any legal holder hereof shall have the option, without notice or demand, to declare this note immediately due and payable. After the maturity of this note, whether by accelera- tion or otherwise, it shall bear interest at the rate of eighteen percent (18~) per annum. Any legal holder hereof may, without notice and without releasing the liability of any maker hereof, grant extensions or renewals hereof from time to time and for any term or terms, acquire additional security, or release any security in whole or in part. Any legal holder hereof shall not be liable for or prejudiced by failure to collect or for lack of diligence in bringing suit on this note or any renewal or extension hereof. The maker hereof shall have the right to make advance payments of all or any portion of the unpaid principal balance at any time, provided that all interest payments are current and such prepayments of principal are in even incre- ments of $100.00. All parties hereto waive protest. The payment of this note is secured by a purchase money mortgage upon Lots Four {4), Five (5) and Six (6), Shady Lane Subdivision, Hall County, Nebraska, executed at even date herewith. I ~ ~~d,Llar P - - !~,[!~~ Wayn~Smith Exhibit A