Laserfiche WebLink
86- 103351 <br />LOAN MODIFICATION AGREEMENT <br />THIS LOAN MODIFICATION AGREEMENT made and executed this <br />_16 day of mav _ , 1986, by and between JAMES F. NISSEN, <br />hereinafter called the "Borrower "; and THE OVERLAND NATIONAL BANK <br />OF GRAND ISLAND, NEBRASKA, hereinafter called the "Lender ". <br />W I T N E S S E T H: <br />WHEREAS, the Borrower has executed a certain Note in the <br />original amount of Thirty -Five Thousand Four Hundred Six and <br />96/100 Dollars ($35,406.96), dated December 28, 1984; <br />WHEREAS, there is presently outstanding a remaining princi- <br />pal sum in respect to said Note in the amount of Thirty -five thousand <br />fifty-three dollars and 12/100 Dollars <br />($_qS 0 12 ) ; <br />WHEREAS, Borrower has made application to the Lender to <br />adjust the terms of payment in respect to said Note; and <br />WHEREAS, Lender has agreed to adjust the terms for payment <br />in respect to such Note contingent upon the Borrower's perform- <br />ance in accordance with the provisions.of this Loan Modification <br />Agreement, <br />NOW, THEREFORE, in consideration of the mutual covenants <br />herein contained, it is agreed: <br />1. In accordance with the terms of this Loan Modification <br />Agreement, the terms in respect to payment of the existing note <br />dated December 28, 1984, are hereby modified to provide that the <br />remaining principal sum of Thirty -five thousand fifty -three dollars <br />and 12/100---- - - - - -- Dollars ($ 19 ) , with interest <br />from ?play 16 1986, on such unpaaiu principal balance at the <br />annual rate of ten and three - quarters percent (10.75$), and to <br />provide that such remaining principal and interest shall be <br />payable at the office of The Overland National Bank of Grand <br />Island, or such other place as the holder hereof shall designate <br />in writing delivered or mailed to the Borrower, in Forty -tWo <br />(42 ) monthly installments of Three Hundred Eighty - <br />Five and No 100 Dollars ($385.00) each, applied first to accrued <br />interest and then to principal commencing on the 15th day of <br />June , 1986, and continuing on the 15th day of each month <br />thereafter, with a final payment of the then remaining principal <br />balance, together with accrued interest, due and payable on the <br />15th day of December, 1989. <br />2. Except as specifically modified by this Loan Modifica- <br />tion Agreement, all other terms and provisions of the Note dated <br />-1- <br />U <br />L J <br />L J <br />