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<br />Position 5 f
<br />USDA• FmHA
<br />Form FmHA 427 -1 NB QQ (�
<br />(Rev. 12 -8 -81) V�—`� 000859
<br />REAL. ESTATE MORTGAGE FOR NEBRASKA
<br />THiS MORTGAGE is made and entered into by Wi lhar+- F._ CL-hilt-.7 L .G'b314,Z,
<br />Ekmabw-A and Mfg,
<br />residing in Hal l County, Nebraska, whose post office address is
<br />RrYStF± 2' Res 2(19e_jWjpA RiRnor Nebraska 68883
<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 ":
<br />WHEREAS Borrower is indebted to the Government, as evidenced by one or more promissory note(s) or assumption
<br />agreement(s), 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 of Interest Installment
<br />February 18, 1985 $60,000.00 10.75% 2015
<br />Subject to a prior mortgage in favor of the Federal Land Bank
<br />of Cmaha, a corporation, recorded as Doctanent No. 80- 005973
<br />(The interest rate for limited resource farm o vnership or limited resource operating loan(s) secured by this instrument
<br />will be increased after 3 years, as provided in the Farmers 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 and Rural Development Act, or Tide V of the Housing Act of 1949 or any
<br />other statute administered by the Farmers Home Administrad4etr , : )
<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
<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. § 1490a.
<br />NOW, THEREFORE, in consideration of the loan(s) and (a) 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 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 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 hereinafter 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 following property situated in the State of
<br />Nebraska. County(ies) of _Hal 7
<br />The West Half of Lot TWO (2) on Island, the West One Half of the Southeast Quarter
<br />all in Section Zesty -four (24), and the West One Half of the Northeast Quarter
<br />Of the MrdWafft Quarter (NENWx) of Section Ztaenty -five (25), all in Taawhip
<br />Ten (10) North, Range Eleven (11) West of the 6th P.M., Hall County, Nebraska,
<br />excepting therefran a certain tract of ground more particularly described in
<br />the Quitclaim DOW reoareied at Book 164, Page 327, and also owepting therefroin
<br />a certain tract of 9raurl more particularly desarlbed in the Quitclaim Deed
<br />at Book 164, Page 330.
<br />i mHA 427 1 NB (I 2•H -811
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