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<br />Form FmIIA 427-1 ND
<br />(Rev. 3.88)
<br />RE Al. EISTATF. MORTGAGE FOR NEBRASKA
<br />THIS NIORTGAGE is made and entered into by Kenneth L. Scheel and
<br />Sandra M. Scheel, Husband and Wife
<br />8,9� 102784
<br />residing in Hall County, Nebraska, whose post office address Is
<br />Route 1, Box 90, Alda , Nebraska 68810
<br />herein called "Borrower." and the United States of America, acting through the Farmers Home Administration, United States
<br />Department of Agriculture, herein called the "Government ": Shared 'A jK x o seeiat � A reement
<br />WHEREAS Borrower is indebted to the Government, as evidenced by g aq mmorp c
<br />1WgKllllt!!). herein called "note," which has been executed by Borrower. is payable to the order of the Government,xn6w�x
<br />im9c715E1t11l fchtx9�iltx�R1l i19i' iER�' fEYtQCIFxR'l 3dRl QR% i�l E?% 4�l tlttl itt!l 1t11iF ]!t!]t>�lt�lx�t7�c7RP1l9PllG and Is described
<br />as follows:
<br />Annual Rate Due Date of Final
<br />Date of Instrument hinr.nal Amount of Interest Instalment
<br />May 30, 1989 $373,595.97 NA May 30, 1999
<br />. (The interest rate for limited rest urce! farm ownership or limited resource operating loan(s) secured by this instrument
<br />may ,+v increased as provided in the Farmer's Home Administration regulations ancii the note.)
<br />And the note evidences a loan to Borrower, and the Government, at any t -ne, may assi n the note and insure the pay.
<br />W �Rtiu`n_i ..• . ... the :.^.. ^.'�' lta »reel Farr , and Rutil Dc Ylaprncnt Ac:z,:.: TitiC �r �f t t: Houa:na —1-t of 1,1-4.7 .'it any
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<br />other statute administered by the Farmers Home Administration:
<br />` W1 ii is tilt p urpoic and inteia of rhis iilsti umcm that, arac r'ts Athet thing., at all times when the rate is held by the
<br />Government. or "i*n the event the Government should assign this instrument wh htiut insurance of the note, this instrument
<br />shall secure payment of the nwte, but when the note is held by an insured hlAata; this instrument shall, not secure payment
<br />of the note or attach to the debt evidenced thereby, but as to the note and su' Debt shall constitute an Indemnity mortgage
<br />to secure the Government against loss under its insurance contract by reason of atsp.default by Borrower;
<br />And this instrument also secures 6e cecapture of any interest credit or subsidy wh4zh rnasp be granted to the Borrower
<br />by the Government pursuant to 42 U.S.C. § 1490..
<br />NOW, THEREFORE., nn,consideration of the loanis) and (a) at all times*r en the note is held i -P tbeCtovcrnment. or
<br />in the event the Government; should assign this instrument without insuranceio3 the payment of the rots.: to secure prompt
<br />payment of the note and any renewals and extensions thereof and any agreements contained therein, including any provision
<br />for the payment of an insurance or other charge. (b) at all times when the note is held by an insured holder, to secut•e per -
<br />formame of Borrower's agteement herein to indemnify and save harmless the Government against loss under its insuitanee
<br />contract by reason of any default by Borrower, and (c) in any event and at all times to secure the prompt payment of all
<br />advances and expenditures made by the Government, with interest, as hereinafter described, and the performance of every
<br />covenant and aguvemcnt of Borrower contained herein or in any supplementary agreement. Borrower does hereby grant,
<br />bargain, sel:, convey and assign, with general warranty, unto the Gowrnment the following property situated in the State of
<br />Nebraska. County jest of Hall
<br />The West Half of the Southeast Quarter (W =SE;) of Section Seventeen (17), Township
<br />Ten (10) North, Range Ten (10), and teh Northeast Quarter of the Northeast Quarter
<br />(NE,NEZ)'cif Section" Twenty (20), Township Ten.(10) North, Range Ten (10) all in:.
<br />Hall County,. NE
<br />Fm HA 427 -1 NB (Rev, -3.88)
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