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<br />!'nslllon J
<br />
<br />88.... 106893
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<br />USDA.FmHA
<br />Form FmHA 427-1 ND
<br />(Rev. 2-87)
<br />
<br />REAL E5fATE MORTGAGE FOR NEBRASKA
<br />
<br />THIS MORTGAGE l. made and entered into by
<br />
<br />F. M:n:ris !k:G1ire IllllI M:mica McQrlre
<br />
<br />residing in
<br />
<br />husband IllllI wife
<br />IIal1
<br />
<br />County, Nebruka, whose pOlt office address is
<br />
<br />Route 3, Box 48, Wood River. , Nebrask~ 68883
<br />herein clllIed "Borrower." IInd the United States of America, acting through the: Farmers Home Administration, United States
<br />Department of Agriculture, herein coIled the "Government";
<br />WHEREAS Borrower is indebted to the Government, as evidenced by one or more promissory no.te(s) or alsumptlon
<br />agrl:Cment{a), herein clllIed "note," which has been ez:ecuted by Borrower, is payable to the order Df the Government, author-
<br />izes acceleration of the entire: indebtedness ar the option of the Government upon any default by Borrower. and u described
<br />OIl fonows:
<br />
<br />Date of Instrument
<br />
<br />Principal Amount
<br />
<br />Annual Rate
<br />of Interest
<br />
<br />Due Date of Final
<br />Installment
<br />
<br />_ 21, 1988
<br />
<br />9,100.00
<br />
<br />9.5%
<br />
<br />_ 21, 1998
<br />
<br />(The interest rate for limited resource fann ownership or limited resource operating loan(s) secured by this instrument
<br />may be increased as provided in the Fanners Home Administration regulations and the note.)
<br />And the note evidences a loan to Borrower, and the Government, at any time, may assign the note and insure the pay-
<br />ment thereof pursuant to the Consolidated Farm Ilnd Rural Development Act, or Title V of the Housing Act of 1949 or any
<br />other statute adminutered by the Farmers Home Administration;
<br />And it is the purpO!\C and intent of this instrument that, among 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 />And this instrument also secures the recapture of any interest credit or subsidy which may be granted to the Borrower
<br />by the Government pursuant to 42 U.S.c. ~ 149003.
<br />NOW, THEREFORE, in consideration of the loan(s) and (a) at all times wilen the note is held by the Government, or
<br />in the event the Government should assign this instrument without insurance of the payment of the note, to secure prompt
<br />payment of tbe note and any renewals and extensions thereof and any agreements contained therein, including any provision
<br />for the pa.yment of an insurance or other charge, (b) at all times when the note is held by an insured holder, to secure per.
<br />formance of Borrower's agreement herein to indemnify and save harmless the Government against loss under its insurance
<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 hereina&er described, and the performance of every
<br />covenant and agreement of Borrower contained herein or In any supplementary agreement, Borrower does hereby grant,
<br />bargain, sell. convey and assign, with general warranty. unto the Government the foUewing property situated in the State of
<br />Hall
<br />
<br />Nebraska, County(ies) of
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<br />That part of the East Half of the Southeast ~t:er (E\5Ell) of Sectioo Twenty-seven (27), in Township Ten (10)
<br />North, 1llIlI8" Twelve (12) West of the Sixth P.M., Lying North of the Unioo Pacific Railroad Rigb.t of Way IllllI
<br />the Higbway Ri~t of Way, (91oIdng all filings affecting said pranises since Februaty 24, 1945, at 5 o'clock
<br />p.m., oo1y); also the Northeast Q>arter (NEll) of Section Twenty-Seven (27), in Township Ten (10) North,
<br />Ranae Twelve (12) West of the sixth P.M.: IllllI also the South Half of the Southeast Q>arter (~) of
<br />= ~ (22), in Township Ten (10) North, Ranae Twelve (12) West of the Sixth P.M. in 001
<br />
<br />FmHA 4h.i1a Ii.;.). 2-87)
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