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Position 3
<br />USDA -FmHA
<br />Form FmHA 427 -1 NB cw— 003833
<br />(Rev. 21- 21-80) REAL ESTATE MORTGAGE FOR NEBRASKA
<br />THIS MORTGAGE is made and entered into by MEIE RS I DE FARMS, INC., a Nebraska
<br />Corporation,
<br />mobdWin Hal 1 County, NebraAa, whose post office address is
<br />Rural Route 1 Box 232 Grand Island Nebraska 68801
<br />herein called `Borrower," and:
<br />WHEREAS Borrower is indebted to the United States of America, acting through the Farmers Home Administration,
<br />United States Department of Agriculture, herein called the "Government " as evidenced by one or more promissory note(s)
<br />or assumption agreement(s), 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 Bor-
<br />d ' described as follows:
<br />rower, an s
<br />• Annual Rate Due Date of Final
<br />Date o Imtncment Principal Amount o Interest InAalment
<br />August 9, 1985 $41,000.00 5 August 9, 1992
<br />(If the interest rate is less than % for farm ownership or operating loan(s) secured by this instrument, then the
<br />rate may be changed as provided in 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 Title V of the Housing Act of 1949 or any
<br />other statute administered by the Farmers Home Administration;
<br />a
<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 />fi
<br />Government, or in the event the Government should assign this instrument without insurance of the note, this instrument
<br />}
<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. §1490x.
<br />loan(s) times when the note is held by the Government or
<br />NOW, THEREFORE, in consideration of the and (a) at all
<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 Hall
<br />The Northwest Quarter (NWT) of Section Two (2),
<br />Township Twelve (12) North, Range Ten (10) West of
<br />the 6th P.M., Hall County, Nebraska, except a tract
<br />of land more particularly described in Warranty Deed
<br />FmHA 427.1 NS (Rev. 11 -21-80)
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