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PR0MI3S0FtY NOTe. Grand Zsland, Nebraska October := / , 1981 520,004.00 This Promissory note is made between .ferry Luth, Payor, and Mayne and Bernice Vanosdall, husband and wife, Lenders. On the dates and in the manner hereinafter set forth, no later than October ~, 1986, for value received, I promise to pay to Bernice Vanosdall and Wayne Vanosdall, Wife and Husband, as joint tenants and not as tenants in common, with rights of survivor- ship, the sum of $20,000.00 at the residence of lenders with interest thereon at 16% annum from October ~, 1981., until. due. The payments shall be as follows: {a) On October ~~~ 1982, $3,200.00 which is the interest payment due and owing; (b) On October ~.~ 1983, $3,200.00 (interest due and owing); {c) On October / ~ 1984, $3,200.00 {interest due and owing}; (d) On October ~~~', 1986, $3,200.00 {interest due and owing); (e) On ~=_tober %_~ 1986, both the interest of - $3,200.00 plus the principal of $20,000.00 becomes dive and owing. ! (f) All principal and interest becomes due and owing October ~,~ 1986. In the event Payor does nat make payment on the date specified above, he has a thirty-day grace period in which to f 's make any said payment. Failure of the Payor to make payments i when due as provided herein is cause for the entire principal sum to become due and owing. The Payor hereby waives any written notice to Payee. In the-event the. Payor decides to pay Payee more-then Twenty (20) percent of-the total balance due and owing during said period of time, there sktall be Twenty (20} percent penalty fee £or the amount prepaid on the principal.