|
Initial Date l 7/7-
<br />20170884
<br />This instrument secures the following promissory notes, assumption agreements, and/or shared appreciation
<br />agreements (collectively called "note "), which have been executed or assumed by the Borrower unless otherwise
<br />noted, are payable to the Government, and authorize acceleration of the entire debt upon any default:
<br />Date of Instrument Principal Amount Annual Rate of Interest Due Date of Final Installment
<br />December 27 , 2017 $223,000.00 3.75 % December 27 , 2057
<br />11/06/2017 $92,000.00 2.75 % 11/06/2019
<br />$
<br />(The interest rate for any limited resource farm ownership or limited resource operating loans secured by this
<br />instrument may be increased as provided in Government regulations and the note.)
<br />By execution of this instrument, Borrower acknowledges receipt of all of the proceeds of the loan or loans evidenced
<br />by the above note.
<br />This instrument secures to the Government: (1) payment of the note and all extensions, renewals, and modifications
<br />thereof; (2) recapture of any amount due under any Shared Appreciation Agreement entered into pursuant to
<br />7 U.S.C. § 2001; (3) payment of all advances and expenditures, with interest, made by the Government; and
<br />(4) the obligations and covenants of Borrower set forth in this instrument, the note, and any other loan agreements.
<br />In consideration of any loan made by the Government under the Consolidated Farm and Rural Development Act,
<br />7 U.S.C. § 1921 et. seg. as evidenced by the note, Borrower irrevocably grants and conveys to Trustee, in trust, with
<br />power of sale, the following described property situated in the State of Nebraska, County or Counties of:
<br />HALL
<br />THE WEST ONE -HALF OF THE SOUTHEAST QUARTER (W1/2SE1/4) OF SECTION FOURTEEN (14), TOWNSHIP
<br />TWELVE (12) NORTH, RANGE TEN (10), WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA, EXCEPT THAT
<br />PORTION THEREOF CONVEYED BY WARRANTY DEEDS RECORDED ON APRIL 5, 1995 AS DOCUMENT NO. 95-
<br />102055, AND RECORDED ON APRIL 6, 1995 AS DOCUMENT NO. 95- 102071 AND JOINT TENANCY
<br />WARRANTY DEED RECORDED SEPTEMBER 20, 2005 AS DOCUMENT 200509318.
<br />together with all rights (including the rights to mining products, gravel, oil, gas, coal or other minerals), interests,
<br />easements, fixtures, hereditaments, appurtenances, and improvements now or later attached thereto, the rents, issues
<br />and profits thereof, revenues and income therefrom, all water, water rights, and water stock pertaining thereto, and
<br />all payments at any time owing to Borrower by virtue of any sale, lease, transfer, or condemnation of any part
<br />thereof or interest therein (collectively called "the property"). This instrument constitutes a security agreement and
<br />financing statement under the Uniform Commercial Code and creates a security interest in all items which may be
<br />deemed to be personal property, including but not limited to proceeds and accessions, that are now or hereafter
<br />included in, affixed, or attached to "the property."
<br />Borrower COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant
<br />and convey the property and that the property is unencumbered, except for encumbrances of record. Borrower
<br />warrants specifically and will defend the title to the property against all claims and demands, subject to any
<br />encumbrances of record.
<br />FSA -2029 NE (11- 06 -12) Page 2
<br />
|