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LOAN MODIFICATION AGREEMENT
(To a Fixed Interest Rate)
ADAMS COUNTY, NE
FILED
INST. N0.
Date y - 4 - o Q Time .~=.~,~1
REGISTER OF DEEDS
II' THE LOAN MODIFICATION AGREEMENT MUST BE RECORDED, TWO
ORIGINAL LOAN MODIFICATION AGREEMENTS MUST BE EXECUTED BY
THE BORROWER: ONE ORIGINAL IS TO BE FILED WITH THE NOTE AND
ONE ORIGINAL IS TO BE RECORDED IN THE LAND RECORDS WHERE
THE SECURITY INSTRUMENT IS RECORDED
This Loan Modification Agreement (the "Agreement"), made and effective this 4th day
of March, 2008, between Central National Bank ("Lender") and Gary J. Clonch and Barbara E.
Clonch ("Borrower"), modifies and amends certain terms of Borrower's indebtedness evidenced
by (1) the Note (the "Note") to Lender dated the 25th day of September, 2007, in the original
principal sum of U.S. $156,000.00 and secured by (2) the Mortgage, Deed of Trust, or Security
Deed (the "Security Instrument") and Rider(s), if any, dated the same date as the Note and
recorded as Instrument 20074300, of the Mortgage Records of Adams County, Nebraska. The
Security Instrument covers the real and p"ersonal property described in the Security Instrument
and defined as the "Property", located at:
2655 S DEERTRAIL, HASTINGS, NE 68901
the real property described being set forth as follows:
LOT EIGHTEEN (18), IN IDLEWILDE REPEAT SUBDIVISION, A PART OF THE
NORTHWEST QUARTER (NW 1/4) OF SECTION TWENTY-EIGHT (28), TOWNSHIP
SEVEN (7) NORTH, RANGE TEN (10) WEST OF THE 6TH P.M., ADAMS COUNTY,
NEBRASKA, ACCORDING TO THE RECORDED PLAT THEREOF.
In consideration of the mutual promises and agreements exchanged, Lender and Borrower agree
as follows (notwithstanding anything to the contrary contained in the Note and Security
Instrument):
Current Balance. As of March 4`", 2008, the amount payable under the Note and
Security Instrument (the "Unpaid Principal Balance',') is U.S. $98,055.11.
2. Interest Rate. Borrower promises to pay the Unpaid Principal Balance, plus interest,
to the order of Lender. Interest will be charged on the Unpaid Principal Balance at
the yearly rate of 6.00%, beginning April 15~, 2008, both before and after any default
described in the Note. The yearly rate of 6.00% will remain in effect until principal
and interest is paid in full.
Monthly Payments and Maturity Date Borrower promises to make monthly
payments of principal and interest of U.S. $842.07, beginning on the ls` day of April,
2008, and continuing thereafter on the same day of each succeeding month until
principal and interest are paid in full. If on October 1 S~, 2022, (the "Maturity Date"),
Borrower still owes amounts under the Note and the Security Instrument, as amended
by this Modification Agreement, the Borrower will pay these amounts in full on the
Maturity Date.
4. Place of Payment. Borrower must make the monthly payments at Central National
Bank, P.O. Box 268, Superior, NE 68978, or such other place as Lender may
require.
Partial Payments. Borrower may make a full prepayment or partial prepayments
without paying any prepayment charge. Lender will use the prepayments to reduce
the amount of principal that Borrower owes under the Note. However, Lender may
apply the Prepayment to the accrued and unpaid interest on the prepayment amount
before applying the prepayment to reduce the principal amount of the Note. If
Borrower makes a partial prepayment, there will be no changes in the due dates or
ofd
2QO8~.38U
the amount of the monthly payments unless Lender agrees in writing to those
changes.
Property Transfer. If all or any part of the Property or any interest in the Property is
sold or transferred (or if Borrower is not a natural person and a beneficial interest in
Borrower is sold or transferred) without Lender's prior written consent, Lender may
require immediate payment in full of all sums secured by the Security Instrument.
If Lender exercises this option, Lender shall give Borrower notice of acceleration.
The notice shall provide a period of not less than 30 days from the date the notice is
given in accordance with Section 15 of the Security Instrument, within which
Borrower must pay all sums secured by the Security Instrument. If Borrower fails to
pay these sums prior to the expiration of this period, Lender may invoke any
remedies permitted by this Security Instrument without further notice or demand on
Borrower.
7. Compliance with Covenants Borrower also will comply with all other covenants,
agreements, and requirements of the Security Instrument, including without
limitation, Borrower's covenants and agreements to make all payments of taxes,
insurance premiums, assessments, escrow items, impounds, and all other payments
that Borrower is obligated to make under the Security Instrument.
Nothing in this Agreement shall be understood or construed to be a satisfaction or release in
whole or in part of the Note and Security Instrument. Except where otherwise specifically
provided in this Agreement, the Note and Security Instrument will remain unchanged, and
Borrower and Lender will be bound by, and comply with, all of the terms and provisions thereof,
as amended by this Agreement.
In Witness Whereof, Lender and Borrower have executed this Agreement.
Central National Bank, as Lender
By !. ~ ~ ~ G~, i~ v ~
Dennis D. Dye, Assistant Vice Pre d~ ent
Gary J. Clonc ,Borrower Barbara E. Clonch, Borrower
STATE OF NEBRASKA )
)SS
COUNTY OF NUCKOLLS )
Th oregomg Loan Modification Agreement was acknowledged before me this ~~~ day of
`~'L, , 2008, by Dennis D. Dye, as Assistant Vice President of Central National
Ba n beh o~said Bank as Lender. ~
/i
BENEAAL NOTARY -State of Nebraska
Notary P is ~~ VICKYA WAGNER
STATE OF NEBRASKA )
SS
COUNTY OF c~~.~-»% _ )
r-`'. M Comm. E n t1, 2009
The foregoing Loan Modification Agreement was acknowledged before me this ~_ day of
,f~%i_.i,i,C1~ , 2008, by Gary J. Clonch and Barbara E. Clonch, as Borrower.
NQrary Public
GEMEHAL NOTARY-5tna o! Nebraska
.~ ELIZABETH A. 3ALMEit~
I ,~~.~. *r~~.~ !Ay Coma. Exp. it x-7'7- 0 /
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