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-, �� � �� �� 2 0 �.10 5 6 �. �. <br />� I� � <br />� NOTE FORM 9 <br />120 MONTHS FIXED RATE TI�N <br />ANNUAL CHANGE DATE <br />PERMANENT NOTE <br />(Revised 04/27/2010) <br />LUTHERAN CHURCH EXTENSION FUND-MISSOURI SYNOD <br />Sunset Corporate Center,10733 Sunset Office Drive, Suite 300 <br />St. Louis, Missouri 63127-1020 <br />PRONIISSORY NOTE FOR PERMANENT LOAN <br />$202,000.00 <br />Date: July 28, 2011 <br />Grand Island, Nebraska <br />1. FOR VALUE RECEIVED, the undersigned TRINITY LUTHERAN CHLJRCH- <br />MISSOURI SYNOD, IN GRAND ISLAND, HALL COUNTY, NEBRASKA (the "Borrower"), <br />a corporation organized under the laws of the State of Nebraska, promises to pay to the order of <br />LUTHERAN CHURCH EXTENSION FUND-MISSOURI SYNOD (the "Lender"), a Missouri <br />nonprofit corporation, the principal sum of Two Hundred Two Thousand and 00/100 Dollazs <br />($202,000.00), together with interest thereon, as follows: <br />1.1 Interest. The rates of interest payable by Borrower to Lender hereunder <br />are as follows: <br />1.1.1 Initial Interest Rate. From and including the date hereof until the <br />first Change Date (as defined in 14.1), interest sha11 accrue and be payable on the <br />principal balance from time to time outsta.nding at the rate of Five and Five <br />Eighths percent (5.625%) per annum. <br />1.1.2 Variable Interest Rate. From and including each Change Date, <br />interest shall accrue and be payable on the principal balance from time to time <br />outstanding at the Variable Interest Rate established in accordance with 14.4 for <br />the period beginning with such Change Date and ending with and including the <br />date immediately preceding the next Change Date. <br />1.2 Amounts and Due Dates of Installments. Beguuung with the first Monthly <br />Due Date (as defined in 14.3) following the date hereof, Borrower shall pay to Lender <br />1 <br />