86105355 - Laserfiche WebLink

Browse

-»; 145855 86 LOAN MODIFICATION AGREEMENT THIS LOAN MODIFICATION AGREEMENT made and executed this 15 day of September , 1986, by and between Gezm:ld B. Kl.uthe and H. Kluthe, us anU nd wig hereinafter called the "Borrowers "; and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, NEBRASKA, hereinafter called the "Lender ". W I T N E S S E T H: WHEREAS, the Borrowers have executed a certain Note in the original amount of 17ightE�E?n thousand fortly -three and 15/100 ---------- - --- Dollars ( $ 18,043.15 ) , dated November er 19_; WHEREAS, there is presently outstanding a remaining princi- pal sum in respect to said Note in the amount of Sixteen thousand five hundred thirty -nine and 32/ 100-------------------------- - - - -Do l la r,s WHEREAS, Borrowers have made application to the Lender to adjust the terms of payment in respect to said Note; and WHEREAS, Lender has agreed to adjust the terms for {payment in respect to such Note contingent upon the Borrowers' perform- ance in accordance with the provisions of this Loan Modification Agreement, NOW, THEREFORE, in consideration of the mutual covenants herein contained, it is agreed: 1. In accordance with the terms of this Loan Modification Agreement, the terms in respect to payment of the existing Note dated Noventzer 21 , 198-4, are hereby modified to provide that the remaining principal sum of Sixteen thousand five hundred thin ty- ni ne and 32/100 -------------- Dollars ($ ),•• g.- ), with i n t e r e s t from eptcr aer 17_19_86, on such unpaid principal balance at the annual rate of eleven — percent ( 11.0 %) , and to provide that such remaining principal and interest shall be payable at the office of The Overland National Bank of Grand Island, or such other place as the holder hereof shall designate in writing delivered or mailed to the Borrowers, in thirtee,n (13 ) monthly installments of 'Avo hundrec sib -�tve and no/100 ----- — -------------------------------- — --- Dollars ($265-00 ) each, applied first to accrued interest and then to principal commencing on the 15 day of October - , 198635, and ccntinuing on the 15 day of each month thereafter, with a final payment of the then remaining principal balance, together with accrued interest, due and payable on the _15 day of Nc)v(4nber , 1987 -1- L