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<br />LOAN ASSUMPTION AGREEMENT
<br />WITHOUT RELEASE
<br />
<br />THIS LOAN ASSUMPTION AGREEMENT is made on this Z,day of February, 2006,
<br />by and between HARRY L. LILIENTHAL and WANDA R. LILIENTHAL, husband and wife,
<br />hereinafter referred to as the "Borrowers"; EQUITABLE FEDERAL SAVINGS BANK OF
<br />GRAND ISLAND, a federal savings bank, now known as "Equitable Bank" and hereinafter
<br />referred to as the "Lender"; and HUSKER STORAGE, L.L.c., a Nebraska limited liability
<br />company, hereinafter referred to as the "Assuming Party".
<br />
<br />WITNESSETH:
<br />
<br />WHEREAS, Borrowers are desirous of transferring the following described real estate to
<br />the Assuming Party, conditioned upon assumption of certain indebtedness:
<br />
<br />Lot Five (5), Westgate Sixth Subdivision, in the City of Grand Island, Hall
<br />County, Nebraska; and
<br />
<br />Lot Six (6), Westgate Sixth Subdivision, in the City of Grand Island, Hall
<br />County, Nebraska.
<br />
<br />WHEREAS, Assuming Party is desirous of assuming all obligations in respect to: (a) a
<br />Promissory Note dated July 25, 2003 in the face amount of Two Hundred Forty-Five Thousand
<br />and No/IOO Dollars ($245,000.00) by and between Harry L. Lilienthal and Wanda R. Lilienthal,
<br />as the "Borrower", and EQUITABLE FEDERAL SAVINGS BANK OF GRAND ISLAND, a
<br />federal savings bank, as the "Lender"; and (b) a Promissory Note dated April 15, 2004 in the
<br />face amount of Eighty Thousand and No/IOO Dollars ($80,000.00) by and between Harry L.
<br />Lilienthal and Wanda R. Lilienthal, as the "Borrower", and EQUITABLE FEDERAL SAVINGS
<br />BANK OF GRAND ISLAND, a federal savings bank, as the "Lender";
<br />
<br />WHEREAS, Assuming Party is also desirous of assuming all obligations in respect to: (a)
<br />a Deed of Trust dated July 25, 2003 and filed August I, 2003 as Instrument No. 0200310072 in
<br />the office of the Register of Deeds in Hall County, Nebraska; and (b) a Deed of Trust dated
<br />April 15, 2004 and filed April 21, 2004 as Instrument No. 0200403928 in the office of the
<br />Register of Deeds in Hall County, Nebraska previously executed by Borrowers in connection
<br />with the aforesaid Promissory Notes; and
<br />
<br />WHEREAS, Lender is willing to permit the assumption by Assuming Party of the
<br />aforesaid Promissory Notes and Deeds of Trust given in connection therewith; and
<br />
<br />WHEREAS, Borrowers acknowledge that this Loan Assumption Agreement shall in no
<br />way affect their continuing liability in respect to said Promissory Notes.
<br />
<br />NOW, THEREFORE, in consideration of the mutual covenants herein contained, it is
<br />agreed:
<br />
<br />1. Consent to Assumption. Lender does hereby consent to the assumption of the
<br />aforesaid Promissory Notes by the Assuming Party and agrees not to declare a default by reason
<br />of such assumption by the Assuming Party, provided all remaining indebtedness and the terms
<br />and conditions of such Promissory Notes and the Deeds of Trust given in connection therewith
<br />are well and truly satisfied by the Assuming Party.
<br />
<br />2. Provisions of Assumption. The Assuming Party does hereby assume and agree to pay
<br />the indebtedness evidenced by: (a) a Promissory Note dated July 25, 2003 in the face amount of
<br />Two Hundred Forty-Five Thousand and No/lOO Dollars ($245,000.00); and (b) a Promissory
<br />Note dated April 15, 2004 in the face amount of Eighty Thousand and Noll 00 Dollars
<br />($80,000.00), and Assuming Party does hereby agree to perform all other obligations provided in
<br />said Promissory Notes and in the Deeds of Trust given in connection therewith.
<br />
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