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<br />Great Western Bank ���o � ��, �,
<br />Attn: Loan Administration/�� �
<br />1235 "N" Street
<br />Lincoln, NE 68508
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<br />LOAN MODIFICATION AND ASSUMPTION AGREEMENT
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<br />Loan No.110176952
<br />This Loan Modif�cation and Assumption Agreement ("Agreement"), made as of June 6, 2011, is
<br />entered into by and between BM & J Grand Island LLC, a Nebraska limited liability company (herein
<br />"BM & J Grand Island"), Omaha Paper Stock Company, Inc., a Nebraska corporation (herein
<br />"Borrower"), and Great Western Bank, a bank chartered under the laws of the State of South Dakota,
<br />successor in interest to the loans of TierOne Bank, a federally chartered savings bank, by acquisition of
<br />assets from the FDIC as Receiver of TierOne Bank, which was closed by the Office of Thrift
<br />Supervision on June 4, 2010 ("Lender").
<br />RECITALS
<br />This Agreement is entered into upon the basis of the following facts and circumstances:
<br />A. WHEREAS, Lender is the owner and holder of a Note Secured by Deed of Trust dated
<br />May 13, 2002, made by Borrower, payable to Lender in the original principal sum of $435,000.00, (the
<br />"Note"), which is secured by a Deed of Trust and Security Agreement dated May 13, 2002 (the "Deed of
<br />Trust") which was recorded May 22, 2002, as Instrument No. 0200205500, of the Official Records of
<br />Hall County, Nebraska, encumbering the property described on Exhibit "A" attached hereto and by this
<br />reference incorporated herein (the "Ptoperty").
<br />B. The Note is also secured by an Assignment of Leases and Rents dated May 13, 2002,
<br />made by Borrower to Lender ("Assignment of Leases and Rents") and recorded on May 22, 2002, as
<br />Instrument No. 0200205501, of the Official Records of Hall County, Nebraska, and other security
<br />instruments.
<br />C. WHEREAS, the Note, Deed of Trust, Assignment of Leases and Rents, and all other
<br />documents executed in connection with the loan are collectively referred to herein as the "Existing Loan
<br />Documents".
<br />D. WHEREAS, the current outstanding principal balance of the Note as of the date hereof is
<br />$193,550.60 (the "Loan").
<br />E. WHEREAS, Borrower conveyed title of the Property to BM & J Grand Island, and to
<br />comply with the terms and conditions of the due-on-sale clause in the Note and Deed of Trust, Borrower
<br />has asked Lender to consent to the conveyance of the Property and which BM & J Grand Island has
<br />agreed to assume the payment and performance of the Loan together with Borrower.
<br />F. WHEREAS, Lender agrees to give its consent to the conveyance of the Property, and an
<br />assumptian and modification of the Loan, subject to the following terms and conditions:
<br />AGREEMENT
<br />NOW THEREFORE, in consideration of the foregoing Recitals and the covenants and conditions
<br />contained herein, the parties hereto agree as follows:
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<br />BM & J Grand Island hereby assumes and unconditionally agrees to pay the unpaid balance of
<br />the Note together with interest accruing thereon and all other charges arising thereunder, and to
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