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lr'SDA -FmHA
<br />Form FmHA 427 -1 NB
<br />Rev. 12.8.81;
<br />ParS ruUr _-
<br />REAL ESI'An MORTGAGE FOR 'NEBRASKA
<br />86. 101818
<br />THIS MORTGAGE is made and entered into by Tim W. Unick and Kathryn A. Unick .
<br />husband and wife,
<br />residing in Hall County, Nebraska, whose post office address is
<br />108 East Nile cairn . Nebraska f RR2d
<br />herein called "Borrower, and the United States of America, acting through the Farmers Hume Administration, United :hates
<br />Department of Agriculture, herein called the "Government ":
<br />WHEREAS Borrower is indebted to the Government, as evidenced i,y one or more promissory notes; or assumption
<br />agreement {sl, herein called --note." which has been executed by Borrower, is payable to the order of the Government. author-
<br />izes acceleration of the entire indebtedness at the option of the Government upon any default by Borrower, and is described
<br />as follows:
<br />Annual Rate Due Date of Final
<br />Date of Instrument Principal Amount ,f lnrerest Installment
<br />April 11, 1986 $33,250.00 9.50% April 11, 2019
<br />The interest rate for limited resource farm ownership or limited resource operating_ioanls) secured'bv din instrument
<br />will be increased after 3 years, as provided in the Farmers Home Administration regulations and the not,i.± -
<br />And the note evidences a loan to Borrower, and the Government, at any rime, may assign the note and insure the pay -
<br />ment thereof pursuant to the consolidated Farm and Rural Development Act, or Title V of the Housing, Act of 1949 or any
<br />other statute administered by the Farmers Hume Administration:
<br />And it is the purpose and intent of this instrument that. among other thinks, at all times when the note is held by the
<br />Government, or in the event rite Government should assign this instrument without insurance of the note, this instrument
<br />shall secure payment of rite 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 Burrower;
<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. § 1490a.
<br />NOW. THEREFORE, in consideration of the loans) and :,ii at all times when 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 the note and any renewals and emensir,ns thereof and any ,greenienti contained ther::in. including any provision
<br />for the payment of an insurance or other charge, ib) at all times when the note is held by an insured holder, to secure per -
<br />formance of Borrower's agreement herein co 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 prom�rt payment of all
<br />advances and expenditures made by the Government, with interest. as hereinafter described, and the per ormance of every
<br />covenant and agreement of Borrower curtained herein or in any suppietrtentaly agreement. Borrower does hereby grant,
<br />bargain, sell, convey and assign, with general warranty, unto the G n
<br />overntrer rhr following property situated in the State of
<br />Nebraska. County(iesj of Hall
<br />The West Half (W?%_) of Lots Five (5) , and Six (6) , in
<br />Block Nine (9), Original Town of Cairo, Hall County,
<br />Nebraska.
<br />FmfiA 427 1 NB if 2 8 -81!
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