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<br />Foam FmHA 427-1 NB
<br />(Res. 5-75.79) REAL ESTATE MORTGAGE FOR NEBRASKA
<br />Tii7S 1470RTGAGE is made and entered into bq _-AL_t7_YSIUS R. PANOWICZ Arid EVELYN D.
<br />-- -~_--PANt~!WICZ_r husband_~nd wife
<br />resid7ttg in _,__-- Hall ---_--__~__--_ - -County, Nebraska, WhO3C post office addreu is
<br />_-_____R!?u~9=__l~__$ox-_321-B.a..-Grand-_Island___--_._-..----------------------------.__, Nebraska _f .$.801_---~
<br />intrein tatted "Borrower," and:
<br />WHEREAS Borrower u indebted to cha United Stater of America, acting through the Farmers Home Administration,
<br />United States Department of Agricuftuze, herein called the "Government," as evidenced by one or more promiaory mute(s)
<br />or assumption agreement{s), herein called "note," which hat 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
<br />Barroweq and is described as fol}ows:
<br />.Artmaal Rate Aue Date of Fi>tel
<br />Date of Instrument Principal Rmouni of Ltterest ~ ~~ ~ /nstallmeni
<br />June I0, 1481 $150,500.00 5$ Ju1Se:-.10, 1992
<br />June 10, 1981 44,000.00 13.25$ Julie ,lOt,1996
<br />This instrument 1-ras previously been recorded as Document #81-003006, and
<br />is being re-recorded to correct the due date of the final installments
<br />due hereunder from January 1, 1492 and January I, 1996 to June 10, 1992
<br />and June 10, 1996.
<br />(df the intetesC rate it less than .-...__....-.-''ra far farm ownership or operating Ioanisj secured by this instrument, then the
<br />rate tnay be changed as provided in the note.;
<br />And the note evidences a loan to Sorsnwer, and the Government, at arw time, may assign the note and insure the pay-
<br />ment thereof pursuant to the Consolidated Farm and Rural Developm=~. Act, er'l-it[e V of the Hotting Act of 1949 or an^
<br />ether suture administered by the Farmers Homc Administration:
<br />And it u the purpose and intent of this inscrumene that, among other thing$, a[ all times when the note is held by the
<br />Govertunent, or in the event the Govermnent should assign this instrument wi:huu, insurance of the note, this instrument
<br />shall secure payment ot` the note: but when t`ne note is herd by an insured holder, this instrument steal} rot secure payment
<br />ai the note or attuh to the del+t evidenced thereby, but as to rice onto and such debt shall constirute an indemnit}' mortgage
<br />to secure the Government against loss under its insurance contract by reason of any default by Borrower;
<br />And this instrument alto secures the recapture of any interest credit or subsidy wnicii may (xe granted to the Borrower by
<br />the Government pursuant ro 42 U.S.C. ~149Qa.
<br />NOW, THEREFORE, in considtration of the ioanisj and iaj at all times whrn the note is held by the Govemment, oz in
<br />stet event the Government should assign this inswment without insurance of the payment of she note, to secure prompt
<br />payment of the note and any renewals and extensions thereof and nay agreements contained therein, including any provision
<br />for ehe payment of an insurance nr otlxer charge, fb; at all times when the ante is held by an insured holder, to secure per-
<br />fartnante of Borsower's agreement herein co indemnify and save hartnieu the Gocerr-tttent against loss under its insurance
<br />contract by reason of any default by Borsower, and ic) in anj event and at all times to secure tht prompt payment of all
<br />advances and expenditures mace uy the Government, with interest, as hereinafter described, and the perormance of every
<br />covenanx and agreement of Borrower contained herein cr in any supplementary agreement, Borrower does hereby grant,
<br />bargain, sell, convey and assign, with genrcal warranty, unto the Government the following property situated in the State of
<br />Nebraska. County(ies) of .--------...~>~~--- - --------_.-------- - --- -- - ---..__._....- ---°- -- - -- --- -- - ._-_ - °---- --------..:
<br />The Southwest Quarter (SW's) of Section Twenty Two (22) in Township
<br />Twelve (12) North, Range &leven (11) West of the 6th P. M., except
<br />tract deeded to the State of Nebraska by Deed recorded in Sook 85,
<br />at Page 10, subject to the right of way of the Grand Island and
<br />tnTyoming Central Railroad Company, and
<br />FrnHA 427-I NB (Rev. 5-15-79)
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