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85- ..102658 <br />MODIFICATION AND EXTENSION AGREEMENT <br />THIS MODIFICATION AND EXTENSION AGREEMENT made and executed <br />this 1st day of may , 1986, by and between MARK H. STINES <br />and CAROL N. STINES, husband and wife, AND JAMES H. STINES and <br />DOROTHY K. STINES, husband and wife, hereinafter called the <br />"Borrowers "; and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, <br />NEBRASKA, hereinafter called the "Lender ". <br />W I T N E S S E T H: <br />WHEREAS, the Borrowers have executed a certain Deed of Trust <br />Note in the original amount of Seventy Thousand and No /100 <br />Dollars ( ;70,000.00), dated June 1, 1984; <br />WHEREAS, there is presently outstanding a remaining princi- <br />pal sum in respect to said Deed of Trust Note in the amount of <br />Sixty -Five Thousand Eight Hundred Twenty -Four and 72/100 Dollars <br />( ;65,824.72); <br />WHEREAS, Borrowers have made application to the Lender to <br />adjust the terms of payment in respect to said Deed of Trust <br />Note; and <br />WHEREAS, Lender has agreed to adjust the terms for payment <br />in respect to such Deed of Trust Note contingent upon the Borrowers' <br />performance in accordance with the provisions of this Modification <br />and Extension Agreement, <br />NOW, THEREFORE, in consideration of the mutual covenants <br />herein contained, it is agreed: <br />1. The Lender does agree, upon and subject to these terms, <br />provisions and conditions, to modifv the time for payment by the <br />Borrowers of the principal sum of Sixty -Five Thousand. Eight <br />Hundred Twenty -Four and 72 /100 Dollars ($65,824.72) remaining due <br />and owing in respect to a certain Deed of Trust Note, dated <br />June 1, 1984. Lender further agrees to modify and extend the <br />time for final payment of the remaining principal balance of said <br />Deed of Trust Note from the date of June 1, 1987, to May 1, 1991. <br />2. In accordance with the terms of this Modification and <br />Extension Agreement, the terms in respect to payment of the <br />existing Deed of Trust Note dated June 1, 1984, are hereby <br />modified to provide that the remaining principal sum of Sixty -Five <br />Thousand Eight Hundred Twenty -Four and 72/100 Dollars ($65,824.72), <br />with interest from May 1, 1986, on such unpaid principal balance <br />at the annual rate of two percent (2%) below the base rate of The <br />Overland National Bank of Grand Island, as established from time <br />to time, and to provide that such remaining principal and interest <br />shall be payable at the office of The Overland National Bank of <br />Grand Island, or such other place as the holder hereof shall <br />an <br />_._J <br />