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<br />"I. <br /> <br />200903325 <br /> <br />EXHIBIT "8" <br /> <br />NOTE FORM 1 <br />ANNUAL CHANGE DATE <br />PERMANENT NOTE <br />(Revised 03/05/2009) <br /> <br />LUTHERAN CHURCH EXTENSION FUND-MISSOURI SYNOD <br />Sunset Corporate Center, 10733 Sunset Office Drive, Suite 300 <br />St. Louis, Missouri 63127-1020 <br />PROMISSORY NOTE FOR PERMANENT LOAN <br /> <br />$320,000.00 <br /> <br />Date: April 30, 2009 <br />Grand Island, Nebraska <br /> <br />1. FOR VALUE RECEIVED, the undersigned PEACE LUTHERAN CHURCH OF <br />GRAND ISLAND, NEBRASKA (the "Borrower"), a corporation organized under the laws of <br />the State of Nebraska, promises to pay to the order of LUTHERAN CHURCH EXTENSION <br />FUND-MISSOURI SYNOD (the "Lender"), a Missouri nonprofit corporation, the principal sum <br />of Three Hundred Twenty Thousand and 00/100 Dollars ($320,000.00), together with interest <br />thereon, as follows: <br /> <br />1.1 Interest. The rates of interest payable by Borrower to Lender hereunder <br />are as follows: <br /> <br />1.1.1 Initial Interest Rate. From and including the date hereof until the <br />first Change Date (as defined in 14.1), interest shall accrue and be payable <br />on the principal balance from time to time outstanding at the rate of Five <br />and Seven Eighths percent (5.875%) per annum. <br /> <br />1.1.2 Variable Interest Rate. From and including each Change Date, <br />interest shall accrue and be payable on the principal balance from time to <br />time outstanding at the Variable Interest Rate established in accordance <br />with 14.4 for the period beginning with such Change Date and ending with <br />and including the date immediately preceding the next Change Date. <br /> <br />1.2 Amounts and Due Dates of Installments. Beginning with the first Monthly <br />Due Date (as defined in 14.3) following the date hereof, Borrower shall pay to Lender <br /> <br />1 <br /> <br />f{ <br />