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Form HUD No. 6237-Neb. p (Sec. 312 Loan) 7971} ~ ~ r K (Revised Nov. 1978) PROMISSORY NOTE Project No. Coamtunity Develapment Place: Grand island, Agency Nebraska Loan No.: 31/HN/0001120/2 Date March 12, 1979 $ Fourteen Thousand Four Hundred and no/100 dollars ($14,400.00) FOR VALUE RECEIVED, the undersigned jointly and severally promise(s) to pay to the order of the United States of America (hereir. called the "Govern- ment"}, acting by and through the Secretary of Housing and Urban Development, or his successors, the sue: of Dollars, ( $14,400.00 }, and to pay interest on the unpaid principal a- mount of this Note from the date hereof, at the rate of Three per centum (3%) per annum, until paid. Both the Principal and interest on this Note are pay- able on the First Day of Each Henth in 240 monthly installments, including both principal and interest, commencing with a payment of $ 85.92 , on May 1 1979 and of $ 79.42 the First Day of Each Afonth for the remaining 239 months, commencing on June 1 , 1979 in lawful money of the United States at the principal office of Conseraative Mart- 8age ~pany in Minneapolis, Minnesota or at such other places as shall be designated by the Government. The undersigned reserve (s} the right to prepay at any time all or any part of the principal amount of this Note without the payment of penalties or premiums. All pa}~nents on this Note shall be applied first to the interest due on Note, and then to the principal due on the Note, and the remaining bal- ance shall be applied to late charges if ar_y. Except as provided below, all monthly installment payments on this Note shall be credited as of the due date thereof without adjustment of interest because paid either before or after such due date. IN THE EVENT the undersigned shall fail to pay the interest on or princi- pal amount of this Note when due, and if such failure be subsisting an Lhe date the next iastallsent payment under this Note becomes due and payable, the ua- paid principal amount of this Note, together with accrued interest and late charges, shall become due and payable, at the option of the Government, ~-ith- out notice to the undersigned. Failure of the Government to excercise such option shall net constitute a waiver of such default. No default shall eaiat by reason of nonpayment of any required installment of principal and interest so long as the amount of the aptiansl prepayments alrady made pursuant here- to equals or exceeds the amount of the required installments. If the interest on, and principal of, this iite are sot paid during the calendir aanth s~ich includes the due date, the underslgned shall pay to the Government a late charge of 4~ per calendar month, or fraction thereof, on the an»imt past due sad re- maining unpaid. if this ?3ate he reduced to judgment, such judgment should bear the statutory interest rate on judgments, but not to exceed fi'$ per annum. IF suit is instituted by the Goveznment to recover on this Note, the under- signed agree(s) to pay ail costs of such collection including reasonable attor- neys" fees and court casts. THIS NOJTE is secured by a real estate mortgage duly filed for record in office of the Hail County Register of Deeds. D~i+, protest and notice of demand and protest are hereby waived, and the undersigned hereby naives, to the extent authorized by law, any and all haaestead and other eaeasption rights vFsich othetvise would apply to the debt evidenced by this 23ote. IN iiITf1ES8 iAiEREt?F, this 2iote has been duly executed by the undersigned, as of its date. ~~~~~~ t f ~a~