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<br />-. <br /> <br />,. .. <br />. cOO "USDA-FHA <br />.Form FHA 440--22 <br />(Rev. ?-1-7I) <br /> <br />- <br /> <br />PROMISSORY <br /> <br />NOTE <br /> <br />(" <br />I <br /> <br />.r. <br />!STATE <br />~ COUNTY <br /> <br />Colon:IG <br /> <br />o DIRECT <br />II] IN<URED <br /> <br />o PUBLIC BODY <br />o OTHER <br /> <br />Co.wJa <br /> <br />CASE NO. <br /> <br />KIND OF LOAN: <br />~ ASSOCIATION <br />o HOUSING-ORGANIZATION <br />o EO-COOPERATIVE <br /> <br />(ASSOCIATION OR ORGANIZATION) <br /> <br /> <br />IA <br /> <br />J ?'~ 2 '7S <br />Date ..._.._..__........._.._............_......_..., 19.......... <br /> <br />. !III IIl_ DI'fCIl AID ~ ClII"dr <br />FOR VA LUE RECEIVED, .___...._____________________..___..___.._..__..__.._..__..__.._..____..__.................._........_............_. <br />(herein called uBonow,er") promisetf to pay to the order of the 'United. States of America, ac.ti~g throu~h the Farmers Home <br /> <br /> <br />Adminislration"United States Department of Agriculture, (herein call.od the ~'Governl!lent") .t its office in ..........._...._........__. <br /> <br /> <br />._....__....__~..!~_!'.__~1.!:~.~..._..,____........_.._.._. ,.Ill ~t. such,other Pla.cenas the Government m.y hereafter designate <br />, <br /> <br />in writing, the principal sum ri .~-~-~-.~~..~-~~~..-.,-----.c-..-..-..-.._-........... dollars <br />($ .:",-,~QgQ!QQ'~..__.._.), plus interest on the unpaid principal b.lance .t the r.te of .~~~I!t~c.tI~.-....-... percent <br />( .4.m._~. %) .per annum. The said principal and. Interest shall ba paid }o the following in~tallments on the following <br />d.tes: $ 9.Q.lfl9_Q.Q_.._...._....... Januury 1, 19 .~_. , $ ...___..............____.._. Janu.ry" I, 19 ..~, $ ...................~........... <br />January 1-,19 .J:!!I. , .nd S ~!9.!L__....__... .nnu.lly th~e.fteron,i.~uary I, except that the final installment shall <br /> <br />. 'm.....U. -:wo... .'. . ... .. .. <br />be paId .t the end o. ....._........_................_..__.._..__..... ( ...'"""'.._..__. ).ye.rs from the d.te of this note, aod except that prepay <br />ments msy be made as provided herein below. Tne consideration herefor shall support any agreement modifying the fore- <br />going schedule of payments. <br />If the total amount of the loan is not advanced at the time of loan closing, the loan shall be advanced to Borrower as <br />requested by Borrower and approved by the Government and interest shall accrue on the. amount of each advance from its <br />actual da.te as shown on the reverse hereof. <br />Every payment made on sny indebtedness evidenced by this note shall be applied first to inte!.st computed to the <br />effective date of ,he payment and then to principal. <br />Prepayments of scheduled instaUments, or any portion thereof, msy be made at any tir..ile at the option of Borrower. <br />Refunds and extra payments, as d4?fi!1ed in the regllations of the Farmers'Home AdmiCli~tration according to the source <br />of funds involved, shall, after paymeot of :ateresl. be applied to toa insta'tlmer.ts last to become due under this note and <br />sha Ii not affect the obligaUPJD of Borrower to pay t.he remaining instal1meil~s as scheduled herein. <br />If the Government at any time assigns this note snd insures the payment thereoft Borrower shall continue to make <br />payments to the Government as collection agent for the l!older. <br />While this note is held by an insured lender, prepayments as above authorized m.de by Borrower may, at the option d <br />the Government, be remitted by the Government to the holder promptly or, except for final payment, be retained by the <br />Government and remitted to the holder on either a calendar quarter basis or an annual installment due date basis. The <br />effective date of every payment made by Borrower, except payments retained and remitted by the Government on an annual <br />installment due date bssis, shsll be the date of the United States Treasury check by which the Government remits the <br />payment to the holder. The effective date of any prepayment retained .nd. remitted by the Government loth e holder on an <br />annusi installment due date basis shall be the date of the. prepayment by Borrower, and the Government will pay the interest <br />to which the hoMer is entitled accruing between the effective date of sny such prepsyment and the date of the Treasury <br />check to the holde,. <br />Any amount advanced or expended by the Government for the collection hereot or to preserve or protect any security h~retor, <br />or otherwise under the terms of any security or other instrument executed in conne,::tion with the loan evidenced hereby: at <br />the option of the Government shall become a .part of and hear interest at the same rate as the principal of the debt evidenced <br />hereby and be immediately due and payable by Borrower to the Government without demand. Borrower agrees to use the loan <br />evidenced hereby solely for purposes authorized by the Government. <br />Borrower hereby certifies that it is unable to obtain sufficient credit elsewhere to finance its actual needs at reasonable <br />rates and terms, taking unto consideration prevailing private and cooperative rates and terms in or near its community {(' <br />loans for similar purposes and periods of time. . <br /> <br />Position 11 <br /> <br />Form FHA 440-22 (Rev. 7-1-. <br /> <br />....~.~.- - <br />