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<br />LOAN ASSUMPTION AGREEMENT WITHOUT RELEASE
<br />WHEREAS, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND
<br />ISLAND, hereinafter referred to as "Lender", loaned DAVID D MARSH AND JACQUELYN C
<br />MARSH, Husband and Wife, AND ANDREW W MARSH AND ERIN A MARSH, Husband
<br />and Wife, hereinafter referred to as "Borrowers", the original principal sum of FIFTY THREE
<br />THOUSAND SIX HUNDRED AND NO/100 Dollars ($53,600.00), as evidenced by a mortgage
<br />Note and mortgage/deed of trust dated November 5, 2001, and recorded on November 6, 2001 as
<br />DOCUMENT # 0200111334 in the Office of the Register of Deeds in Hall County, Nebraska;
<br />WHEREAS, said Borrowers have conveyed to Marsh Properties, L.L.C., hereinafter
<br />referred to as "New Borrower", the property legally described as:
<br />NORTH 69' AND WEST 35' OF LOT 5, BLOCK 8, CLARKS ADDITION TO THE
<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />WHEREAS, New Borrower desires to assume and pay the remaining indebtedness
<br />described above as evidenced by the aforementioned Note and mortgage/deed of trust; and
<br />WHEREAS, Lender is willing to permit the assumption by New Borrower of the Note and
<br />mortgage/deed of trust;
<br />NOW, THEREFORE, in consideration of the mutual covenants herein contained, it is
<br />agreed:
<br />1. The undersigned New Borrower does hereby assume and agree to pay the remaining
<br />indebtedness evidenced by the aforedescribed Note and mortgage/deed of trust and perform all of
<br />the obligations provided therein and as modified hereby, it being agreed and understood that as of
<br />this date said indebtedness is TWENTY ONE THOUSAND TWENTY �NE AND 80/100
<br />Dollars ($21,025.80);
<br />2. The terms of the repayment of the debt evidenced by the aforedescribed Note and
<br />mortgage/ deed of trust shail remain unchanged in that interest upon the unpaid balance of said
<br />indebtedness shall be at the rate of Six and One Quarter percent (6.25%) per annum and that
<br />monthly payments in the amount of FIVE HUNDRED SEVEN and 96/100 Dollars ($507.96)
<br />shall continue to be made on the l day of each month, and continuing on the 1�` day of each
<br />month thereafter, until said indebtedness is paid in full;
<br />3. Except as moclified hereby, the Note and mortgage/deed of trust above described shall
<br />remain in fu11 force and effect and the undersigned New Borrower promise to pay said
<br />indebtedness as herein stated and to perform all of the obli�ations of said mortgage/deed of trust
<br />as herein revised.
<br />4. This Loan Assumption Agreement does not release or discharge any Borrowers from
<br />any liability involving the Note and mortgage/deed of trust;
<br />5. If any term, covenant, restriction or provision of this Agreement is determined to be
<br />void, invalid or unenforceable, the remainder of the terms, covenants, restrictions or provisions
<br />of this Agreement shall remain in full force and effect, and the provisions of the Note and
<br />mortgage/deed of trust amended or modified by such void, invalid or unenforceable part hereof
<br />shall be reaffirmed and enforceable to the same extent as if this Agreement had not been
<br />executed.
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