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Q Pos&ion S
<br />orm F 4Z7-! NB `~ ~ ~ ~~ ~ ~ 5 ~ ~
<br />(Rer. 1l-2l-80}
<br />REAL E31'ATE MORTGAGE FOR NEBRA9iCA
<br />THlS MORTGAC31? is made and entered iMO by ' P. F>AR~FtS and RUBY ~T. lam,
<br />,,~ vtfe, each in his and her ottim right and as spouse of the other,
<br />and MARIE HA12i7~IR5, a widow,
<br />tessidig is Hall Ccunty, Nebraal<a, whose post office addrepts
<br />Poute 3, @oot 2:1. tNOOd Rives , Nebraska 68883
<br />herein caged "Borrower:' and:
<br />WHEREAS Borrower is indebted to the United States of America, acting ehrottgh the Farmers Horx Administration,
<br />Un&ed States lkpartmeat of Agriculture, herein called the "Government," a evidenced by one or molt promiaory note(s)
<br />or asaomption agreement(s), herein called "note;' which has been executed by Borrower, is payable to the «der of the
<br />Geaxrtsauat, atthaciua acceleration of the entire indebtedness ac the option of the Government upon any default !ry B«-
<br />eovrer, sad g described as follows:
<br />Atsrrrd Raft Dae Date of Fnrel
<br />Uate of Srstscrnreat Prireelps! Amotrrtt o Intense Ittstal8nttnt
<br />Atxlust 26, 1981 538,000.00 5.04 August 26, 2001.
<br />August 26, 1981 542,000.00 13.258 August 26, 2011.
<br />(If the interest rata is lea than 96 for farm ownership or operating loan(s) secured by this ieatrnment, then the
<br />rate may be changed as provtided in the note.)
<br />And tha renter evidences a ban to Borrows, and the Government, at any time, may assign the note and insure the pay-
<br />ment thareof pursuant to the Consolidated Farm sad Rural Devebpment Act, or Title Y of the Htwaiag Act of 1949 « any
<br />other solute administered by the Farmers Home Administration;
<br />And it is the purpose and intent of thin instrument thu, among other things, a zv times when the note is held by the
<br />Government, « in the event the Government should assign this instrument without insurance of the torte, thin inatrurttent
<br />shat[ secure payment of the note; but when the note u held by an insured holder, this instrument shall n« secure payment
<br />of she ~a or attach to the debt evidenced thereby, but as to the note wd such deli shall consritute an indemnity mortgage
<br />to secure the Govermaeat against loss under its inauaaca contruc by reason of any defauh by Boctower;
<br />And thin instrument stern sacuros the recapture of any iaterou credit or atbsidy which may be granted ro the Borrower
<br />by eha Government purauaac to 47 U.S.C. §1490a.
<br />NiNV, T'f{ERF.l~E}RE, is coaaideratioa of the baa(a} sad (a} at all times when the note's held by the Governmene,or
<br />in eha avant tha Government shtxtld assgrt Chia inurumeat wghou€ instuutcc of the paymant of the sots, to secure prompt
<br />payataat of the ante sad any ronawala sad e:eeasions thereof and say agcaemen4 contained theroia, iachctling any provision
<br />fat the payroaat of ao iaetraace « other charge, (b} :t ati timers when the note is held by an insured holder, to ~R per-
<br />fformaace of 8arrowar'a agreement heroin ro indemnify and says hartniep clta Gorernment against bas under its insurance
<br />eontnct isy roaaat of say default by Borrower, sad (c) in sap event sad at all [vacs to secure cite prompt payment of all
<br />sdrancss sad s:peadituroa roads by the Governmwt, with intareK, at hereinafter described, sad the performaoa of every
<br />oweaaat and agsamsru of Borrower contained basis « in soy wpplemsatary agrcemeat, Borrower does haetsy great,
<br />~. sell, convey sad :pigs, with ger~al warranty, unto the Government the bUowiog Property aitnated in the Sate of
<br />Nsbeaska, County(iss} of ball .
<br />'14Yte Sout2gaest Quarter (SWt) of Section Nine (9) , in 'Downship Eleven (11) North,
<br />Range Eleven (11}, West of the Sixth P.M.
<br />SUHJHCT TO a mortgage in fawr of 'ltte Equitable Life Assurance Society
<br />of the United States i.rt the principal amount of 550,000.00.
<br />FmHA 427-1 NID (Rev. ! 1-2l-gti)
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