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S1~i'1tt~93€3 THIRD EXTENSION AND MODIFICATION AGREEMENT THIS AGREEMENT, made this 21st day of October, 1981, by and between TRIAtiGIE EAST, INC., a Nebraska corporation, hereinafter referred to as the "Borrower", and FIR5T WESTROAOS BANK, INC., a Nebraska banking corporation, hereinafter referred to as the "Bank", trustee under a certain Deed of Trust and Promissory Note dated August 11, 1980, an E~.tension and Modification Agreement dated February 9, 1981, and a Second Extension and codification Agreement dated June 1, 1981. W I T t 1 E S S E T H WHEREAS, the Bank is ,he owner and trolder of a certain promissory note dated August il, 1980, an Extension and Modification Agreement dated February 9, 1981, and a Second Extension and t•lodification ;agreement JateJ June 1, 13J2, and executed by the Borrower; WHEREAS, the note is secured by a Deed of Trust dated August 11, 1980, with First Westroads Bank, Inc., as Trustee and filed of record in the office of the Register of Deeds of Hall County, Nebraska, as Document No. 80-00422; WHEREAS, the Extension and Podification Agreement is filed of record in the Office of the Register of Deeds of Hall County, Nebraska, as Document No. 8I-001866; WHEREAS, the total principal sum due and outstanding as of the date hereof unc!nr the note is $103,756.1u and the accrued interest thereon as of the date hereof is paid; WHEREAS, the due date under the note is February 9, 1981, and the due date under the extension is t4ay 11, 1981; and the due date under the second extension is July 30, 1981, and the Borrower requests that the due date be further extended to October 20, 1982; WHEREAS, the Bank eras agreed to said extension of time in accordance with the terms and provisions hereof; NOW, THEREFORE, the parties hereto agree as follows: 1. Pursuant to the provisions hereof and in consideration of the execu- tion and delivery of this third extension and modification agreement, Borrower and Bank agree this agreement is delivered and accepted, not in payment, but for the purpose of extending the time for repayment of said aforementioned note and exten- sion agreement. 2. Borrower covenants that the said Deed of Trust is a valid first lien on the real property described on Exhi-bit "A" attached hereto and incorporated herein by this reference, and that there are no defenses or offsets to such docu- ments as amended and modified hereby. Borrower further hereby warrants the title to said real property. 3. Pursuant to the provisions hereof and in consideration, Borrower agrees to a modification of interest charged under the Note and this agreement. From this date, interest on the unpaid principal balance shall be charged at the annual rate_ of 2.0~ above Lenders' prime interest rate as established fran time to tim~ e, t~i'e i~nfiti~ rate oi• t_tiis _extension being. 20. b_%per annum. Interest shai'~ Ee~caicuTated on a d-a(`fyhas~"s and siia~ll~be payable on the first of each and every month following the date hereof and continuing until the maturity date, at which time all remaining accrued interest and principal shall be due anJ payable in full. Interest after maturity will be charged on the principal and interest in default at 4.OT above Lender's prime interest rate. 4. All other terms, covenants, and conditions of said note and Deed of Trust, except as herein extended and modified, shall remain in full forge and effect, and the maker hereby severally waives presentment for payment, notice of nonpayment, protest, and notice of protest, and the guarantors hereby charge their own personal and separate estates with payment of this note. 5. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors. 1.. ~_ .__. _ .