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i Pnsitimn S USDA-FmHA ~~~ QOO~.g~~ Form FmHA 427-1 NB 7 (Rev. 11-21-80) REAL ESTATE MORTGAGE FOR NEBRASKA LUE J.ALLAN,JR and MARGARET V: .ALLAN THIS MORTGAGE is made and entered into by husband A~-wife, each in his and her own right and as spouse of the other, reading in HALL Co„nty, Nehrac_ka; whose oost office address is Route 3, Box 82, Wood River ,Nebraska 68883 herein called "Borrower," and: WHEREAS Boaower is indebted to the United States of America, feting through the Farmers Home Administration, United Sates Department of Agriculture, herein called the "Government; ' as evidenced by one or more promissory rrote(s) or assumption agreement(s); herein called "note," which has been executed by Borrower, is payable to the order of the Government, authorizes acceleration of the entire indebtedness at the option of the Government upon any default by Bor- rower, and is described as follows: AnmaI Rate Due Date of Final Date of Instrument Prindpal Amount of Interest Installment FEBRUARY 25,1983 $ 20,300,00 10'x% FEBRUARY 25,1988 September 13,1978 36,700,00 5 % September 13,2018 October 9,1979 4,100,00 9 % October 9,2019 January 16,1980 24,000.00 10 % January 16, 2020 June 20,1980 28,530.00 11 % June 20, 2020 August 23,1982 2,500.00 14~% August 23,1983 (If the interest rate is less than - °{o for famr ownership or operating loan(s) secured by this instrument, then the rate may be changed as provided in the no[e.) And the note evidences a loan to Borrower, and the Government, at any time, may assign the note and insure the pay- ment thereof pursuant to the Consolidated Fum and Rural Development Act, or Title V of the Housing Act of 1949 or any other statute administered by the Fumers Home Administration: And it is the purpose and intent of tfiis instrument that, among other things, at all times when the note is held by the Government, or in the event the Government should assign this instrument without insurance of the note, this instrument shall secure payment of the note; but when the note is held by an insured holder, this instrument shall not secure payment of the note or attach to the debt evidenced thereby, but as to the note and such debt shall tonstitute an indemnity mortgage to secure the Government against loss under its insurance contact by reason of any default by Borrower; And this instrument also secures the recapture of any interest credit or subsidy which may be granted to the Borrower by the Government pursuant to 42 U.S.C. §1490a. NOW, THEREFORE, in consideration of the loan{s) and {a} at all times when the note is held by the Government, or in the event the Government should assign this instrument without insurance of the payment of the note, to secure prompt payment of the note and any renewals and extensions thereof and any agreements contained therein, including any provision for the payment of an insurance or other charge, (b} at all times whza the note a held by an insured holder, to secure per- formance of Boaower`s agreement herein to indemnify aad save harmless the Government against loss under its insurance mntnct by reason of any default by Borrower, and (c) in any event and at all times to secure the prompt payment of aU advances and expenditures made by the Government, with interest, as hereinafter described, and the performance of every covenant and agreement of Borrowu contained herein or in any supplementuy agreement, Borrower does hereby grant, bargain, sell, convey and assign, with general wuranty, unto the Government the foHowiag property situated in the Sarre of Nebraska, Count tes of ~'1' Y(~ ) The South Half of the Northwest Quarter (S~NW~) of Section Twenty-four (24), in Township Eleven (11) North, Range Twelve (12), West of the 6th P,M. Subject to a Mortgage in favor of the Federal Land Bank of Omaha in the principal amount of $20,900,00 affecting only the SW~NW~ 24=11-12; FmHA 427-1 NB (Rev. 11-21-80)