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<br /> no:rrro., s
<br /> USDA-FmHA
<br /> � Form FmHA 427-1 NB �
<br /> (Rev.3•17-77) REAL ESTATE MORTGAGE FOR NEBRASKA
<br /> ; �s-- 002960
<br /> � THIS MCRTGAGE is made and entered into by $OWABD EAINFOgTH & SON
<br /> ` '; �HOTiAHD g. RAIAJFOHT$.AND IVA--•P. BAINFOHTH,� 3U3BA1'JD ANID_WIFE -�• _---_-_�-—
<br /> ' residing in -----.— VS�leys.,�_._____.________W_._T__ _ ______ Counry, Nebraska, whose post offlce address is
<br /> ' Route ��1, North Lou , i��1� �f�',.��.1,�?LK .��,iPp,jebraska -68859_
<br /> - ; ___---- �.---saa-�xsven�tt--t�3�-�-----•-=------
<br /> herein called "Borcower,'�and:
<br /> WFIEREAS Sorrower is indebted to the United States of America,acting through the Farmers Home Administration,
<br /> United States Department of Agriculture,herein called the "Government;'as evidenced by one or more promissory note(s)
<br /> or assumption agreement(s), herein called "note;' which has been executed by Borrower, is payable to the order of the
<br /> Government, authorizes acceleration of the entire indebtedness at the option of [he Government upon any defau]t by
<br /> Borrower,and is described as Co�lows:
<br /> Annual Rate Due Date of Final � .
<br /> , Date of Instrument Principal Amount of lnterest Insiallment -- - � � � �
<br /> 5-15-1978 $451,500.00 8% 5-15-2018
<br /> ' S-15-1978 48,500.00 3% 1-01-1985 :
<br /> �
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<br /> �� 1- And the note evidences a loan to Borrower, and the Govemment, a[ any time, may assign the note and insure the payment � �
<br /> [hereof pursuent to the Consolidated Faen and Rural Development Act,or T itle V of[he of the Housing Act o(1949;
<br /> And it is the purpose and intent of this instrument that, amoung other things, at all times when the note is held by the
<br /> Govemment, or ia the event the Govemment should assign this instrument without insurance of the note,this instrumenc
<br /> shall secure payment of the note; but when the note is held by an insured holder, this instrument shall not secure payment . � .
<br /> of the note or attach [o the debt evidenced thereby, but as to the note and such debt shall constitute an indemnity moRgage
<br /> to secure the Govemment against loss under its insurance contract by reason of any default by Borrowea
<br /> �� N01i�, THEREFORE, in consideration ot the loan(s)and(a) at all times when the note is held by the Government,or in the - �
<br /> event the Govemment should assign [flis instrument without insuwnce of the payment of the no[e, [o secure prompt payment � � . �
<br /> of the note and any tenewals and extensions thereof and any agreements contained therein, induding any pcovision for the . - � . �
<br /> payment o(an insurance or other charge, (b)at atl times when the note is held by an insured holdeq to secure performance of � .
<br /> � � Bottower's agreement herein to indemni(y and save harmless the Govemment against loss undez its insurance contract by � . .
<br /> reason o[ any delault by Borrower, and (c) in any event and at all times to secure the prompt payment of all advances and
<br /> ' expenditures made by the Gove�nment, with interest, as hereinafter described, and the per(ocmance of every covenant end
<br /> � agreement o( Borrower contained herein or in any supplemeatary agreement, Borrower does hereby grant, bargain, sell,eonvey �
<br /> � and assign,with general warranry, unto the Government the following property situated in the State of Nebraska,County(ies)of �'"
<br /> . �-r �F -flaYle :and..Hall •
<br /> � -- -.- __.--y -- - -..___.._-----._................�---...---._.......-------�-------�-�--------- --. .....----........ ...... .....-- --�
<br /> ---- ----��- -�- ----
<br /> The'Sou�nwes€ Quarter�-of �he `Sou�hmest �uarter; and, .the:l�orth Half.of the
<br /> Soti�hw�st���usr�er";'�<arTd, th���ldorthwest Quarter�of the >Soutt:east 2uartez; and, •
<br /> �h�`South�����Quarter- bf'-the Northeast�Quarter;: all in Section 7, in -
<br /> , Township 9 North, Range 11 West of the 6th P.M. , Hall County, Nebraska,
<br /> subject to a real estate mortgage in favor of the Federal Land Bank of Omaha
<br /> recorded in Book 139 on page 575; and, subject to a resl estate mortgage
<br /> recorded in Book 169 on page 259_
<br /> i; Part of the Northeast Quarter of the Southeast Quarter of Section 7 in
<br /> . Township 9 North, Range ll West of the 6th P.M. , Hall County, Nebraska,
<br /> ' more particularly described as follows: Beginning at the Northwest Corner
<br /> of the Northeast Quarter of the Southeast Quarter of said Section 7; thence
<br /> FmNA 4?7-i NB(Rev.3-17-77)
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