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f-- USDA -FmHA Positions 85---005582 -�
<br />Form FmHA 427 -1 NB
<br />(Rev. 11.21 -80) REAL ESTATE MORTGAGE FOR NEBRASKA
<br />THIS MORTGAGE is made and entered into by DONAU E. STOLTEKERG and R. MARIE STOLTSMORG,
<br />bumbaiad and wife, each in his and her own right and as spouse of the other,
<br />residing in hall County, Nebraska, whose post office address is
<br />Route 1, Box 285, Grand Island
<br />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 rsote(s)
<br />or assumption agreement(d), 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: An,ptal Rate Due Date of Final
<br />of Interest 1"SWUment
<br />Date o Instrument Principal Amount
<br />4-1 u-
<br />Noven�r 7 , 1985 $55,000.00 5 Novapber 2 ,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 Government, at any time, may assign the note and insure the Pay-
<br />And
<br />the note evidences a ban to Borrower,
<br />went 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 cep times when the nett held by the
<br />Government, or in the event the Government should assign this instrument without insurance of the note, this instrument
<br />slap 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 agreemcnt herein to indemnify and save harmless the Government against loss under its insurance
<br />corttsact 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, Count0es) of hall
<br />The NorthEast Qi^ ter ;.iE ») of Sectir)n Si:.teen (16), 'I'ownshiP
<br />'llwelve (12), I:orth Rarx;e Ter. (10) , west of the 6t1! P -M- ,
<br />FmHA 427.1 NB (Rev. 11- 2180)
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