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<br />tJ3dA-FmfiA ~py ii r
<br />Form FmH/i 427-1 NB O t --(j ~} ~ ~_ ~ t~
<br />{Rn. 11-21-80)
<br />REAL ESTATE AlflRTGAGE FOR NP.BRA~CA
<br />THISMORTG~Eiamadeuxletneredunoby LOUIS R. ENGEI, A:3Ci JOYCE_Id. ENGEL
<br />husband and wife
<br />residing in fill l County, Nebraska, whoa poet office address is
<br />Route 1, Box 67A, Doniphan 68832
<br />_ , Nebraek: ,
<br />herein called "Boroowe:," and: ,
<br />WHEREAS Borrower is indebted to the United Staten of America, acting through the Farmen Home A~nieistration,
<br />United Stues Department of Agricuhure, herein called the "Govertunent;' as evidenced by orrr or more promisa~ nou(n)
<br />« asamrptlon• agrceerent(s), herein called "note," which has been s:ecuted by Bormvser, is payable to the «der of the
<br />Govertuaene, such«izea acceleration of the entire indebtedness at the option of the Go~ernmeM upon ;sty default by B«-
<br />rower, and is deuribed a folbws:
<br />Artrwrl Rate Dne Date of Finer
<br />I]sye of Instnrtnewt Frirae(pel Atnoarrt o Interest Instel8newt
<br />Oct. $., 19$1 $138,000.00 13.25$ Oct. 8, 2021
<br />(lf the interest tau is Leas than q6 for farm ovtnership or operating loan(s) secured by this inaeumeat, then the
<br />rau may be changed as prodded in the nou.}
<br />And the norm evidences a ban to Borrower, and the Governmrnt, at any time, may assign the note and insure the pay-
<br />mem thereof puraaant to the Conaolidaced Farm and Rural Development Act, or Title V of she Housing Act of 1949 « nay
<br />otha rtatate admariatsrcd by the F:mere Home Administration;
<br />And it is the purpose and inuat of this instrument thu, among othee things, at all times when the note is held by the
<br />Government, « in the event tfie Government should aasigo this instrumrnt without insurance of the note, this instrument
<br />shall secure payment of eke note; but when the nou is held bq an insured holder, this instrmmeat shall not secure payment
<br />of the nou or attach to the debt erideaced thereby, but u to the note and such deb: shall constitute an indemnity mortgage
<br />to secure the Goveramsat agaiau ions under it: insurance contntx by reason of any default by B«rowet;
<br />And this instrument also ssxurea the recapture of any inurcst credit or :ubaidy which may be granted to the Borrower
<br />by the Government pursuant to 42 U.S.C. §1490x.
<br />NOW, THEREFORE, in consirlention of the ban{a} and {a) at al! times when the note is held by the Government, or
<br />art dtc event tha Goverttnaent should assign thin iaat[umcnt without insurance of eke payment of the nom. to accrue prompt
<br />payment of the trou and any rcnawale and e:teeaiom thereof and any agreements contained therein, including any provision
<br />E« the payarent of an insurance ur other charge, (b) at all times when the nou u held by an insured holder, to xcurc per-
<br />frartaancs of Borrower's agreement herein to indemnify and save harmless the Gaverameni against less under its insurance
<br />contract by ;anon of any 3cfauit by Bonows~, and (e} in any went sad at all eitues io secure the prompt payment of ail
<br />sd~xacxs a°.d mzpeRd„~t,...,. made by the C-u~r c-nt, with ::.cereal, as hereinafter described; and the E,srf~-aa;~ Uf ~,-.
<br />covettaat and agreement of Borrower coptaL+acd herein or in nay supplementary agreement, B«rowet darn. hueby grata,
<br />bugrin, sail, convey and assign, wick grnera! warranty, unto the Government tix following propcrty situated in the State of
<br />Nebndca, County(iea} of
<br />Hall
<br />The Northwest Quarter of the Southwest Quarter (IJW~Std'~) and the northeast
<br />Quarter of the Southwest Quarter (NEitSW~) except for the South :'wenty
<br />Eight i28) feet of the I+7ortheast Quarter of the Southwest ¢uarter
<br />FmHA 427-1 NB (Rev. 11.21-g0)
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