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USDA-FmHA Position 5
<br />Form FmHA 427-1 NB
<br />(Rev. 5-15J9) REAL ES-PATE MORTGAGE FOR NEBRASKA
<br />THIS MORTGAGE is made and entered into by ._-_~.1`_l.~.D. D.--LEY-3I1C1-.1~-~1.• -.~~~,,--tlLleib--.
<br />,---._---'AK~-_LIl.fOr--PclC}1-1t1-171.4-dDC~.-1K~S'-..C1Wn.Y;~ht-.aC1C~.'3S-Sj~OllS2.-~-. afl@-L~SP.T.,.-------'-------_
<br />residing irt ___-"--°-._-.__-_-.---------'---_-Hal.1-'--------'---------..-..-----_. County, Nebraska, whose post office address is
<br />>,9?000~-R1VQ„><'------._-_.-_---~-------. Nebraska ---~$~.~~----•
<br />---- ------14.Q~-_[1~t_St#e~t~------ - - - _ - - -
<br />herein called "Borrower," and:
<br />WHEREAS Barrowe: is indebted to the United States of America, acting through the Farmers Hame Administration.
<br />United Staees Depaztment of Agriculture. herein called die °Governmenr," ~•s evidenced by one ar more promisor}' Hotels;
<br />or assumption agreement(s), herein called "voce," k•hich has been executed by Burrower, is pa}•able to the ardor of the
<br />Government, authorizes acceleration of the entire indebtedness at the option of the Government upon any default by
<br />Borrower, and is described as follows:
<br />- .-lnnual Rute Dui' Dute of Pineal
<br />Date of Insm,ment Principal ,9mount of Interest btstallneent
<br />June 24, 1980. $64,000.00 11.08 Jtme •L4, 2010.
<br />IIf the interest rate is Less than ..---~-__._` o for farm ownc;sht,-_ ar operating Ican~,s, secured be this instrument, then the
<br />rate mac be chanted as provided in the Harr.,
<br />And the note e,>idenees a loan to Borrower. anal the Govemment. at anv time. mas~ assign the note and insure the p~av-
<br />ment thereof pursuant to the Consulidated Farm ;.nd Rurai Development Act. ur Titla V of the Housing Act ~.>} 79.1'7 <+r am~
<br />other statute administered by the Farmers Home Admi:ustratiun:
<br />And it ;~ the purpose and intent of this instrumem [hat. among other things. at ~1 times when d:r Hare is held i>v the
<br />Govemment, or in the even[ the Government should assign this ins rumen-t without insurance oY the note, this uurrumenc
<br />shall secure payment of the note: but when the note is held by :m insured hoiden, this iturrument shall not-secure payment
<br />of the note or attach to the debt evidenced thereby-but as to the note and sucl: ;7ebt shall :onatitutr an indcm ni n mart¢age
<br />m secure [he Government against loss under its insurance content[ b}' reason of any detach b}' Borower:
<br />And this instrutnent also secures the recapture o2 am' interest credit or subsidy which may be Tamed to the Borrower by
<br />the Government pursuant to 42 U.S.C. §1490a-
<br />NOW, THEREFORE, in consideration of the ioan;sj artd a; at all times when the none is held lry ti:e Government, or in
<br />the event the Government should assign this insrrument without ivsuzana• ~f the payment u? d:e net„ to secure orc:mpt
<br />payment of the noxe a,-td arv renewals and extensions thereof and an~~ ataermrnts contavtrd tSruein. ineiudiag any provision
<br />for the payment of an insurance or other charge..,bi at all rimes when the Hate is held is ar: insured n..!dcr, to secure pez-
<br />formance of Borrower's agreement herein to indemnify and lace harmless rl:e Gavernment .tgainst loss undet vs insurance
<br />contract by ceasen of any default by Borrower- and ;c) in any event and at ail times to secure the prompt payment ut ali
<br />advances and expenditures mare uy the Government, wick: interest, as hrreinaitzr describedi, and Cite peri otntance ui every
<br />Covenant and a~eerrrent of Borrower contained herein or in any supplementary agreement, Borrower Socs hereby g.ant.
<br />bargzin, sell, c^nvey and assign, wi*_h general wa__anty, unto t};e Government the idllewin`~ troperty situated in the State n•.
<br />Nebraska,Counryiics? ot -----~'1---------------'-------.. ._--------- ----- ----------...-..----- -
<br />North Fifteen t15) Feet of Int Eight t8) and all of Int Seven (7) and
<br />South Five t5) Feet of Lot Six ifi), all in Block One il), West North
<br />Lanai SecoQrl Addition to the City of Wood River. Nehraska.
<br />StJH7FX.T 'ro a mortgage in fawn of First Federal Savings and Loan Association
<br />of Lincoln in the principal amount of $28,000.00.
<br />FnrNA 42'-1 NB `Rec. 5^,-75-791
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