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<br />USDA-FmHA
<br />i. Form FmHA 427.1 NB
<br />(Rev. 11- 21 -80)
<br />Positions 85-- 005581
<br />REAL ESTATE MORTGAGE FOR NEBRASKA
<br />THIS MORTGAGE is made and entered into by DaLUD SMLTENBEEGr AND R. MARIE STOLTENBERG
<br />Husband and Wife
<br />residing in Hall County, Nebraska, whose post office address is
<br />Route 1, Bmc 285, 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 />rower, and is described as follows:
<br />Annual Rate Due Date of Final
<br />Date of Instrument Principal Amount of Interest Installment
<br />tu //-I- &.'�
<br />November 1 , 1985 $55,000.00 5% November 7 , 1992
<br />(If the interest rate is less than olo 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 />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 Joan(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 tote 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(its) of hall
<br />NorthWest Cxku-ter (NP ) of Section '11-iiXty -Five (35) , in
<br />Township '!helve (12) , North Rancle 'Pen (10) , West of the
<br />6th P.M.
<br />SWbject to a mottgage in favor of the Federal Land Bank
<br />Of Canaha, Nebraskm
<br />FmHA 427.1 NB (Rev. 11. 21.80)
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