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<br /> LOAN Ir10DIFICATI�N AND ASSUIhPTION �
<br /> � � AGREEt�I�NT WITH RFLkASE 98— ����88� • :, .;
<br /> WHEREAS, HOmE FLDERA� SAVINGS AND LOAN ASSOCIATION OF GRAND ISLANp, hereinafter .•- . -
<br /> �� referred to as °Hame Federal", loaned RICHARD L. STUEVEN AND SHERRY L. STUEVEN, husband ���'' �'"�
<br /> '. an w�fe hereinafter referred �a as "Borr�wers",_ the_ariginal � . � � �,.s.w�k
<br /> � princip^1 sum nf THTRTY THREE 1�HOUSAND AND NO/100------____ Dollars � :
<br /> (� 33.[10(I.00), as evidenced by a mortgage nate dated June SU, 1991 , and ; , :t,,:,.:�„�.:a�,
<br /> • secured by a mortgago/deed of trust dated June 30, 1992 a•�d recordPd as Document ��'•+"a'*t��'�*?�i=�- �
<br /> HALL Caunty� NEBRASKA .. � `��° '� -
<br /> in the Office of �he Reyister of Deeds in �T`'.'`�;��
<br /> .,,�„«,..+, � No. �,�Z� �.f i�UIP�a,"` �'� >-
<br /> .: /�' ,' and S7`�Y,.�v�an,,...y.a.u.•
<br /> ' WHER�AS, said Borrowers have sold to the undersiqned Purchasers the property ��`�---�-==- �
<br /> �ti�?�'=----_.
<br /> ; legally described as: , �K�4:�;:��:
<br /> � THE NORTHERLY SIXTY-SIX FEET (N66') f]F LOT FOUR (4), IN BLOCK NINE (4), IN WIEBE S _,__
<br /> ;. ADDITION TO THE CITY OF GRANO ISLAND, HALL COUNTY, NEBRASKA �,
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<br /> �� WHERERS, Purchasers desire to assume and pay the remaining indebtedness described
<br /> abave as evidenced by the aforementioned nots and mortgage/deed of trust; and =
<br /> WHEREAS, Borrowers desire to be releasPd from any further obligation in respect �-
<br /> .�r.
<br /> ' to the above described note and mortgage/deed of trust; and te,
<br />_._ " _ �• WHERERS� Home Fed/eral is willing to permit the assuniption by Purchasers of
<br /> tiie note and morLyaye/UCCI� �f �rt�st and rel��se tF�e Bcrrewers from ±he oti1 i.gatinns 3�=
<br /> " evidenced by the aforedescribed note and mortgage/deed of trusti subject, however,
<br /> to a revision of the terms of payment of said indebtedness, �,
<br /> �, NOW, THEREFORE, in consideration of the mutual cavenants herein contained� ---
<br /> it is agreed: -
<br /> 1. The und�rsigned Purchasers hereby assume and agree to pay the remaining _
<br /> � indebtedness evidenced by the aforedescribed note and mortgage/deed of trust end _
<br /> perform all of the obligations provided therein and as modified hereby, it being
<br /> agreed and understood th�at as of this date said ind�btedness is TWENTY FIVE�THOUSANO TWO
<br /> ,�i ininpFn Frrurv�TmF x ��j - Oollars ($ 25,289.74�,
<br /> 2. The terms of the rPpaymen of the debt evidenced by the aForedescribed
<br /> � note and mortgage/deed of trust are hereby modified in that interest upan i:he un�zd
<br /> balance of said indebtedness shall be at the rate of Seven � one-h�b€cent ( 7•,u`�i)
<br /> � per annum, end that monthly payments shall be made commencing on. the lst day of
<br /> Februarv L 19 98 , and continutng on the lst of each month thereafter, it being
<br /> further agreed that such payments shall be in the amount of THREE HUNDRED TEN RND e4/100
<br /> _______..__-------------------------�ollars ($ 310.84 ) p�r month. to be applied
<br />- first to interest and the balance to principal until said indebtedness is paid in ----
<br /> �' full, and that. in addition, said Purchasers will �+ay the sum of SEVENTY TWO AND 74/100
<br /> � _________________..-------------- Dollars ($?z•?4 ) per month in escrow e�timated
<br /> sufficient to pay taxes and or insurance on said propert , which estimate ma be �°''``�
<br /> revised from time t� time by Home Federal, making a total urrent payment of THREE �"�'�'�'���'—��:`
<br /> o��r^R�w�v�-
<br /> Hi�tinRFD T HTY THREE ANO S8/100--------------------
<br /> ---Dollars ($ 383.58 ) per month. �'"�
<br /> " 3. Except as modified hereby, the note and mortgage/deed of trust above de- �=�r. _��=:,t!`,`
<br /> scribed shall remain in full force and effect� and the undersigned Purchasers promise "',;.�,:�::"Y_ _�.;�Y
<br /> to pay said indebtedness as herein stated and to perform all of the o�ligations ���•=,�•;• �
<br /> _ , af said mnrtgage/deed of trust as herein revised. .' ��`l�-�� `"'
<br />- 4. By reason of this Loan Modification and Assumption Agreement� Home Federal . '•+��-
<br /> hereby releases and discharges the undersigned original 8��rrowers from their personal .
<br /> obligation upon said indebtedness.
<br /> _ 5. I f any term, crwenant, restriction or provision of this Agreement is deter- ,
<br />' � mined to be void, inualid or unenforesable, the remainder of the terrns� covenants�
<br /> restrictions or provisions of this Agreement shall remain in full f'orce and effect,
<br /> �J and tt�e provisions of the note and mortgage/deeci of trust amended or modified by
<br /> - �1 such vo.td, invalid or unenfarceable part hereor shaii be rear r irmeo and enr"orceai�ie r-�--'�-_°-__=
<br /> � t.o the same extent as if ttiis Agreement had not been executed. �
<br /> - IN WI7NESS WNEREUF, the undersigned have executed tt�is instrument on this 30th �
<br /> day of �nuarv � 19 98 � +
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<br /> _ Ri� r L . 5tuev�� Borrower I
<br /> " Stierry L. ueven E3orrower �
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