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USDA Position 5
<br />Form RD 1927 -1 NE
<br />(Rev. 1 -98)
<br />REAL ESTATE MORTGAGE FOR NEBRASKA
<br />l
<br />THIS MORTGAGE is made and entered into by Doniphan Economic Development Corporation
<br />residing in Hall County, Nebraska, whose post office address is
<br />105 West Plum Street, Doniphan ,Nebraska 68832
<br />herein called "Borrower," and the United States of America, acting through the United States Department of Agriculture, herein called the
<br />"Government ":
<br />WHEREAS Borrower is indebted to the Government, as evidenced by one or more promissory notes or assumption agreements or
<br />any shared appreciation or recapture agreement, 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 the Government upon any default by Borrower, and is
<br />described as follows:
<br />Annual Rate Due Date of Final
<br />Date of Instrument Principal Amount of Interest Installment
<br />Promissory Note $152,300.00 6.8750 November 1, 2030
<br />Assumption Agreement $140,423.83 6.8750 November 1, 2030
<br />(The interest rate for limited resource farm ownership or limited resource operating loans secured by this instrument may be
<br />increased as provided in the Government's regulations or the note.)
<br />And the note evidences a loan to Borrower, and the Government, at any time, may assign the note pursuant to the Consolidated
<br />Farm and Rural Development Act, or Title V of the Housing Act of 1949, or any other statute administered by the Government.
<br />And it is the purpose and intent of this instrument that, among other things, at all times when the note is held by the Government,
<br />or in the event the Government should assign this instrument, this instrument shall secure payment of the note;
<br />And this instrument also secures the recapture of any amount due under any Shared Appreciation/Recapture Agreement entered
<br />into pursuant to 7 U.S.C. § 2001.
<br />NOW, THEREFORE, in consideration of the loans and (a) at all times when the note is held by the Government, or in the event the
<br />Government should assign this instrument, to secure prompt payment of the note and any renewals and extensions thereof and any
<br />agreements contained therein, and (b) in any event and at all times to secure the prompt payment of all advances and expenditures made
<br />by the Government, with interest, as hereinafter described, and the performance of every covenant and agreement of Borrower contained
<br />herein or in any supplementary agreement, Borrower does hereby grant, bargain, sell, convey and assign, with general warranty, unto the
<br />Government the following property situated in the State of Nebraska, County or Counties of
<br />Hall
<br />RD 1927 -1 NE (Rev. 1 -98)
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<br />USDA Position 5
<br />Form RD 1927 -1 NE
<br />(Rev. 1 -98)
<br />REAL ESTATE MORTGAGE FOR NEBRASKA
<br />l
<br />THIS MORTGAGE is made and entered into by Doniphan Economic Development Corporation
<br />residing in Hall County, Nebraska, whose post office address is
<br />105 West Plum Street, Doniphan ,Nebraska 68832
<br />herein called "Borrower," and the United States of America, acting through the United States Department of Agriculture, herein called the
<br />"Government ":
<br />WHEREAS Borrower is indebted to the Government, as evidenced by one or more promissory notes or assumption agreements or
<br />any shared appreciation or recapture agreement, 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 the Government upon any default by Borrower, and is
<br />described as follows:
<br />Annual Rate Due Date of Final
<br />Date of Instrument Principal Amount of Interest Installment
<br />Promissory Note $152,300.00 6.8750 November 1, 2030
<br />Assumption Agreement $140,423.83 6.8750 November 1, 2030
<br />(The interest rate for limited resource farm ownership or limited resource operating loans secured by this instrument may be
<br />increased as provided in the Government's regulations or the note.)
<br />And the note evidences a loan to Borrower, and the Government, at any time, may assign the note pursuant to the Consolidated
<br />Farm and Rural Development Act, or Title V of the Housing Act of 1949, or any other statute administered by the Government.
<br />And it is the purpose and intent of this instrument that, among other things, at all times when the note is held by the Government,
<br />or in the event the Government should assign this instrument, this instrument shall secure payment of the note;
<br />And this instrument also secures the recapture of any amount due under any Shared Appreciation/Recapture Agreement entered
<br />into pursuant to 7 U.S.C. § 2001.
<br />NOW, THEREFORE, in consideration of the loans and (a) at all times when the note is held by the Government, or in the event the
<br />Government should assign this instrument, to secure prompt payment of the note and any renewals and extensions thereof and any
<br />agreements contained therein, and (b) in any event and at all times to secure the prompt payment of all advances and expenditures made
<br />by the Government, with interest, as hereinafter described, and the performance of every covenant and agreement of Borrower contained
<br />herein or in any supplementary agreement, Borrower does hereby grant, bargain, sell, convey and assign, with general warranty, unto the
<br />Government the following property situated in the State of Nebraska, County or Counties of
<br />Hall
<br />RD 1927 -1 NE (Rev. 1 -98)
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