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<br />QSQA-Fwrl1A ~
<br />Porrn FmfIA 427 1 ~~ ""~ T} {i ''~ l
<br />{ifav, il-21d~1)
<br />REAL ESTATE MORTGAGE FOR NEBRASKA
<br />THIS ME~RTGAGE is made and entued into by ARTHUR L KIRK and DELORIS C KIRK
<br />husband and wife,
<br />residing in Hdl l County, Nebraska, whose post office address is
<br />Route 1, Box 202, Cairo ,Nebraska 68824 ,
<br />herein called "Borrowu;' wd:
<br />WFIEREAS Borrower is indebted to the United States of America, acting through the Farmers Home Administration,
<br />iJnimd States Departmem of Agriculture, herein called the "Government," u evidenced by otre or mote promissory [[ots(a}
<br />or assumption agreement(s), herein called "note;' which hu been-ezecuttd by Borrower, u payable to the-order of tht
<br />Govunment, authorizes acce4ration of the entire indebtedness at the option of the Governmerrc upon any default by Bor-
<br />rower, and is described u follows:
<br />.inrtual Rate Due Date of Fine!
<br />Date of Instrument Principal Amours! o Intertst - l,rstal6nmt
<br />November 4, 1982 $170,000.00 11.5$ November 4,2012
<br />(If the intuest rate is leu than °,b for farm ownership or operating loan(s) stcured by this inmtmeat, then the
<br />rate may be changed u provided in the note.)
<br />And the note evidences a loan to Borrowu, and the Government, at anp time, may assign tht note and insure the pay-
<br />ment thereof gursuant to the Consolidated Farm and Rural Development Act, or Title V of the Housing Act of 1949 rx any
<br />other statute administered by the Fazmers Home Administration;
<br />And it a the purpose and intent of this instrument that, amore other things, ar all times when the teote is held by the
<br />Goverrunent, or in the event the Govutunent should assign thu instrument without insurance of the Hoer, this inrttuoneat
<br />shall secure payment of the note; but when the note u held by an insured ho}det, thrs mstrumeat shalt not seeun payment
<br />of the nom or attuh to the debt evidenced thereby, but u to the note and such debt shall constitute as indemnity mortgage
<br />to secure the Government against loss undo its insurance contract by reason of any default by Borrower;
<br />And this instrument also secures the recapture of any interest crtdit or sttt~idy which may bt granted to the Borrower
<br />by the Government pursuant [0 42 U.S.C. §149oa.
<br />NOW, THEREFORE, in consideration of the loan(s) sad {a) a all runes when the note u held by the Goxtnment, or
<br />in the event the Government should assign this instrument withou[ i,.n,.~~ce of the payment of the note, to xcvre prompt
<br />payment of the note and any renewals and exmnsions thereof and nay agreemeau crontaiaed therein, iarluding 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 sxure pct-
<br />formanct of Borrower's agreement herein to indemnify sad sore harmku the Govuanxnt against loss under its ir[auwtrte
<br />contract by reason of any default by Borrower, and {c) in any event and at all times to snore tht prompt payment of all
<br />advances and expenditures made by the Govtrrunent, with interest, as hereinafter described, an3 rite perfamaace of overt'
<br />covenant and agretmeat of Borrowu contained herein or in any suppkmentuy agreement, Barowet does hr~aby grutt,
<br />bargain,. sell,. convey and assign. with genual warranty, unto the Government the. following property situated'an tits State of
<br />Nebraska, County(ies) of Hall
<br />The Northwest Quarter (NWT) and the West Half of the Northeast Quarter
<br />tN1'~NE'~n) of Section Sixteen (16) in Township Twelve (12) North, Range
<br />Eleven_ {11) West of the 6th P. ri„ in Hall County, Nebraska.
<br />FmHA 427-1 NB (Rev. 11.2150)
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