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USDA -FHA Position 5
<br />Form FHA 427-1 NB REAL ESTATE MORTGAGE FOR NEBRASKA
<br />(Rev. 7-1-73)
<br />KNOW ALL MEN BY THESE PRESENTS, Dated ..............._March 5, .1975._
<br />.... _.... _.............
<br />WHEREAS, the undersigned ............. :GLEO..L.._BEBERNISS..... a.sing-Le-persora..................................................... _.
<br />residing in .................................. County, Nebraska, whose post office address
<br />is ......._.. I3ux al -Rout -1 -,.-$ox. 67 ............. - ...... ........ _...._.._.... 1.Ida----- ----- - -------------- _----- , Nebraska ..658110........-......_... ,
<br />herein called. "Borrower," are (is) justly indebted to the United States of America, acting through the Farmers Home Ad-
<br />-ministration, United States Department of Agriculture, herein called the "Government,"' as evidenced by one or more certain
<br />promissory note(s) or assumption agreement(s), herein called "note" (if more than one note is described below, the word
<br />"note" as used herein shall be construed as referring to each note singly or all notes collectively, as the context may
<br />require), said note being executed by Borrower, being payable to the order of the Government in installments as specified
<br />therein, authorizing acceleration of the entire indebtedness at the option of the Government upon any default by Borrower,
<br />and being further described as follows:
<br />Annual Rate
<br />Date of Instrument Principal Amount of Interest
<br />Due Date of Final
<br />Installment
<br />March 5, 1975 $87,500.00 50 March 5, 2015
<br />And the note evidences a loan to Borrower, and the Government, at any time, may assign the note and insure the payment
<br />thereof pursuant to the Consolidated Farm and Rural Development Act, or Title V of the of the Housing Act of 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 />Government, or in the event the Government should assign this instrument without insurance of the note, this instrument
<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 to the debt evidenced thereby, but as to the note and such debt shall constitute an indemnity mortgage
<br />to secure the Government against loss under its insurance contract by reason of any default by Borrower.
<br />NOW, THEREFORE, in consideration of the loan(s) and (a) at all times when the note is held by the Government, or in the
<br />event the Government should assign tfiis instrument without insurance of the payment of the note, to secure prompt payment
<br />of the note and any renewals and extensions thereof and any agreements contained therein, including any provision for the
<br />payment of an insurance or other charge, (b) at all times when the note is held by an insured holder, to secure performance of
<br />Borrower's agreement herein to indemnify and save harmless the Government against loss under its insurance contract by
<br />reason of any default 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 Government, with interest, as hereinafter described, and the performance of every covenant and
<br />agreement of Borrower contained herein or in any supplementary agreement, Borrower does hereby grant, bargain, sell, convey
<br />and assign, with general warranty, unto the Government the following property situated in the State of Nebraska, County(ies) of
<br />Fia11... _..__.... _ -- ............... _....... ......._...._........... -...... _.................... _............ __:-.....----- -........- ......
<br />�.._.........._.._..__-...
<br />The Northwest Quarter of the Southwest Quarter (NW4SW4) of Section Four. (4) , in Township
<br />Ten (10) North, Range Ten (10) , West of the 6th P.M., Hall County, Nebraska.
<br />SUBJECT to a First Mortgage in favor of The Overland National Bank of Grand
<br />Island, in the principal sum of $40, 000.00 recorded in Book 168, at Page 189,
<br />dated February 28, 1975,
<br />The South Half of the Northwest Quarter (SrNW4) ,and the North Half of the Southwest Quarter
<br />(NZSW4) of Section Eleven (11)-; in Township Twelve, (12) North, Range Eleven. (11), West of
<br />the 6th P.M., Hall County, Nebraska. FHA 427-1 NB (Rev. 7-1-73)
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