Whenever any contract is entered into by this state or the United States or any agency thereof, with a private landowner, as is provided for in section 50 -17-05, the following must be deemed constructive notice of such agreement to any mortgagee of or lienholder upon the lands conveyed thereby: 1. Recording of such contract in the office of the recorder of the county in which the land involved is situated; 2. Posting of a copy of the contract in the office of the county auditor of the county in which the land involved is situated; and 3. Mailing a copy of such contract by registered or certified mail to any mortgagee or lienholder of record at that person's address as shown by the record, or, if not so shown, to that person's last -known post-office address. Such copy must be mailed by the recorder of the county where the land is situated within five days after the recording of the instrument.
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