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<br />USDA-FmHA
<br />Form FmHA 427-1 NB
<br />(Rev. 11-21-80)
<br />Position S
<br />81..~uU4643
<br />REAL ESTATE MORTGAGE FOR NEBRASKA
<br />THIS MORTGAGE is madeandenteredintoby ALVIN A. DENMAN AND SIIIRON DENMAN -
<br />husband.and wife
<br />residing in Hall County, Nebraska, whose post office address u
<br />Alder Nebraska 68810
<br />hsein called "Borrows;' and:
<br />WHEREAS Borrows is indebted to the United States of America, acting through the Farmers Home Administration, -
<br />United States Department of Agriculture, herein called the "Government; ' u evidenced by one or more promissory mote(s)
<br />or assumption agreement(s), herein called "note;' which has been executed by Borrows, is payable co the order of the -.
<br />Government, authorius aceeleration of the entire indebtedness at the option of the Government upon any default by Bor-
<br />rows, and is described as follows:
<br />Anmul Rate Due Dale of Finn! _
<br />Dote of Instrument Principal Amount of Inlerost Instalbnent
<br />Sept. 10, 1981 $52,500.00 So Sept. 10, 1988-
<br />Sept. 10, 1981 $47,500.00 13.25 Sept. 10, 1988
<br />(If the interest me is less than 1~' % for farm ownership or operating loan(s) secured by this insscument, them the
<br />me may be changed as provided in the note.)
<br />Md the note evidences a ban to Borrows, aed the Government, at any time, may assign the note and insure the pay-
<br />ment thereof pursuant ro the Consolidated Farm and Rural Development Act, or Title V of the Housing Act of 1949 or any -
<br />otha statute adminsstered by the Farmers Home Administratbn:
<br />And it is the purpose and intent of this instrument that, among other things, at all tvmea whew the note is held by the
<br />Government, or b the event the Govsnment should assign this instrument without insurance of the note, this iuatntment
<br />shall secure paymene of the note; but when the note is held by an insured holds, this buttument shall not secure payment
<br />of the note or attach to the debt evidenced thereby, but u to the note and such debt shall conaitute an indemnity mortgage
<br />to secure the Government against loss under its insurance contract by reason of any default by Borrower:
<br />Md this insaument also secures the recapture of any interest credit or rubsuly which may be granted to the Borrower
<br />by the Govermnent putwant to 42 U.S.C. §1490a.
<br />NOW, THEREFORE, in ContideratlOn of the ban(s) and (a) at all times when the note is held by the Govsnment,vr
<br />in the event the Government should assign thin instrument without insurance of the payment of the noes, to secure prompt
<br />payment of the cote sad any reresvvals and extensions thereof and any agreements contained therein, inchsdtngany pmrisiom
<br />foe the payment of an insurance or other chugs, (b) at all times when the note is held by an insured holder; to accrue per=
<br />forntanee of Borrower's agreement herein to indemnify and ssve humku the Government agsiast bu under iu insurance
<br />contract by reason of any default by Borrows, and (c) b any event and at all times to secure the prompt payment of all
<br />advances and expanditures made by the Government, with interest, as hseinafts described, and the psfasvnaace of every
<br />covenant and agaement of Borrows contained herein or in any ruppkmentuy agreement, Barrows dues hssby gaol,
<br />bugiin, sell, convey and assign, with gensal wuranty, unto the Government the foUowiug property atuated in the Sate of
<br />Nebraska, Couacy(ks) of Ha 11
<br />The South Half of the Southeast Quarter (S~SEiy) of Section Twenty-Two
<br />(22), Township Eleven (11) North, Range Ten (10) Dtest of the 6th P.M.,
<br />Hall County, Nebraska, subject to a prior rwrtgage in favor of The
<br />Equitable Life Assurance Society of the United States, and
<br />FmHA 427-1 IJB (Ra.. 11.2180)
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