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<br />Position 5
<br />
<br />USDA-FmHA
<br />Fol'm FmHA 427 -1 NB
<br />(Rev. 11-21-80)
<br />
<br />83-004296
<br />
<br />REAL ESTATE MORTGAGE FOR NEBRASKA
<br />
<br />THIS MORTGAGE is made and entered into by
<br />
<br />Ronald S. Reese and Cheryl M. Reese
<br />
<br />1
<br />
<br />residing in
<br />
<br />Hall
<br />
<br />County, Nebraska, whose post office address is
<br />
<br />306 S. Said St., Cairo
<br />
<br />, Nebraska
<br />
<br />herein called HBorrower:' and:
<br />WHEREAS Borrower i. indebted to the United States of America, acring 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 usumption agreement(s), herein called "nore," which hs been executed by Borrower, is payable to the order of the
<br />Government, .uthor..... acceleration of the entire indebtedness at the option of the Government upon any default by Bor-
<br />rower, and is described u follows:
<br />
<br />Date of IHSfTUment
<br />
<br />Principal Amount
<br />
<br />A..-al Rate
<br />of lnterw
<br />
<br />Due Dat" of Pinal
<br />Inm.Um/mt
<br />
<br />August 5, 1983
<br />
<br />$45,000
<br />
<br />10,75 %
<br />
<br />August 5, 2016
<br />
<br />(If the interest tate isle.. than _ ..~ for farm ownership 0' operating loan(.) secured by this instrument, then the
<br />rate may be changed as provided in the note..1
<br />And the note evidences a loan to Borrower, and the Governmenr. at any time, may assign the note and insure the pay-
<br />ment thereof pursuant to the Consolidated Filtm and Runl Development Act, or Title V of the Housing Act of 1949 or any
<br />other statute adminiJtered bv ,he Farmers Home Administration;
<br />And it i. the purpose and intent of this instrument that, "'nong ",het things, at all times wben the note is held by the
<br />Government. or in the event [he Government should assign this instrument without insurance of the notc, this instrument
<br />.h.1l secure payment of the note; but when the note IS held by an msured holder. this iostrument shall not seCUl:e payment
<br />of the note or attach to the debt evidenced theteby. but.. to lhe note .nd such debt shall constitute an indemnity mortgage
<br />to $eCutC tne Government agamJt Iou under its insuu_nee conlnlU by reason of any d.efault by Borrower;
<br />And thiJ msttu!U-t'nt abo seCUlt:j the rr-c~ptur<- of a.ny tntt."r~:tl <:reJu or (tubsiJ.y which may be w-anted (0 the Borrower
<br />by the Government punu""t to 42 U.S.c. g1490iL
<br />NOW, TH-EREFORE, in con",idrr.tion of the lOiill{s) and {;i) at all timet when the not.e: is held hy the Government. or
<br />in the event th~ Government $.hoold a.s.sigu thi:i i.nstrulUent wuhout Ul5W",iUHX t)[ the p...yment of the note, to secure- prompt
<br />payment of the note anti any renew.ils 4Ild e~tenSliJons therco! .nJ ..ny _greernenu containc:d therein, including.illY provision.
<br />for the payment of;.us inouranee or other charge. ,bi .t .ll ttm., wlu-n tlu- note is held by an insuted holder, to secure per-
<br />fQtman<:t of Borrower's .l.greement her'C'u\ t\) indemnify .oJ s.ve h.u-mk,u the l.;overnm-ent against KllS under its insurance
<br />mntuet by reason of ""y Jei..ult by Borrower, and (c) lD ..ny event ""d "' .11 time. to secure the proUtpt payment of all
<br />advo.uc.. and u~nJiture. made by tM Govenunent. with interest, .u h.reinaf<<r described, and the performance of evety
<br />co"W-nant .and .grcement -vi BOftOWCf contained. herein ;,)f in ilny supplemenwy ~reemen[. Borrower d.oes hereby grant,
<br />bargain, sell, convey .nd as,sjgn, with Ilener.u WiAtunty. unto the Government the following property situated in the State of
<br />
<br />Nebra_a, County( ie.) of H a 11
<br />The Southerly Twenty-seven
<br />Half (N~) of Lot Three (3)
<br />Hall County, Nebraska
<br />
<br />(27.0) feet of Lot Two (2) and the North
<br />Block One (1) Second Addition to Cairo,
<br />
<br />FmHA 427,1 NB (Rev. 11.21-80)
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