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201202430 22. Notices. Notices given under this instrument shall be sent by certified mail unless otherwise required by law. Such notices shall be addressed,unless and until sonic other address is designated in a notice,in the case of the Govermnent to the State Executive Director of the Farm Service Agency at the mailing address shown above,and in the case of Borrower at the address shown in the Government's Finance Office records(which normally will be die same as the mailing address shown above). 23. Governing law; severability. This instrument shall be governed by Federal law. If any provision of this instrument or the note or its application to any person or circumstances is held invalid,such invalidity shall not affect other provisions or applications of this instrument or the note which can be given effect without the invalid provision or application. The provisions of this instrument are severable. This instrument shall be subject to the present regulations of the Government,and to its future regulations not inconsistent with the express provisions hereof All powers and agencies granted in this instrument are coupled with an interest and are irrevocable by death or otherwise; and the rights and remedies provided in this instrument are cumulative to remedies provided by law. 24. Successors and assigns;joint and several covenants. The covenants and agreements of this instrument shall bind and benefit the successors and assigns of Govermnent and Borrower. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this instrument but does not execute the Note: (a) is co-signing this instnunent only to mortgage, grant and convey that Borrower's interest in the property under this instrument; (b)is not personally obligated to pay the sums secured by this instrument; and (c) agrees that the Government and any other Borrower may agree to extend,modify,forbear or make any accommodations with regard to the terms of this instrument or the note without that Borrower's consent. 25. No merger. If this instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the property,the leasehold and the fee title shall not merge unless die Govermnent agrees to the merger in writing. If the property is conveyed to the Govermnent,title shall not merge(unless the Government elects otherwise)and the lien provided under this instrument shall not be affected by such.conveyance. 26. Time is of the essence. Time is of the essence in the Borrower's performance of all duties and obligations under this instrument. NON-ONIFORM COVENANTS. Borrower further COVENANTS AND AGREES as follows: 27. Default; death; incompetence; bankruptcy. Should default occur in the performance or discharge of any obligation in this instrument or secured by this instrument,or should the Borrower die or be declared incompetent,or should the Borrower be discharged in banlmuptcy or declared an insolvent or make an assigmnent for the benefit of creditors,the Government,at its option, with or without notice,may: (a) declare the entire amount unpaid under the note and any debt to die Government hereby secured immediately due and payable, (b)for the account of Borrower incur and pay reasonable expenses for repair or maintenance of,and take possession of;operate or rent the property, (c) upon application by it and production of this instrument,without other evidence and without notice of hearing of said application,have a receiver appointed for the property, with the usual powers of receivers in like cases, (d)authorize and request Trustee to foreclose this instrument and sell the property as prescribed by law,and (e)enforce any and all other rights and remedies provided herein or by present or future law. 28. Foreclosure. At the request of the Government, Trustee may foreclose this instrument by advertisement and sale of the property as provided by law, for cash or secured credit at the option of the Government,personal notice of which sale need not be served on Borrower; such sale may be adjourned from time to time without other notice than oral proclamation at the time and place appointed for such sale; and at such sale the Goverment and its agents may bid and purchase as a stranger;Trustee at Trustee's option may conduct such sale without being personally present through Trustee's delegate authorized by Trustee for such purpose orally or in writing,and Trustee's execution of a conveyance of the property or any part thereof to any purchaser at foreclosure sale shall be conclusive evidence that the sale was conducted by Trustee personally or through Trustee's delegate duly authorized in accordance herewith. 29. State law. Borrower agrees that the Government will not be bound by any present or future State laws, (a)providing for valuation, appraisal,homestead or exemption of the property, (b)prohibiting maintenance of any action for a deficiency judgment or limiting the amount thereof or the time within which such action must be brought, (c)prescribing any other statute of limitations, (d)allowing any right of redemption or possession following any foreclosure sale, or (e)limiting the conditions which the Govermnent may by regulation impose,including the interest it may charge, as a condition of approving a transfer of the property to a new Borrower. Borrower expressly waives the benefit of any such State laws. fniti date Za4_3_r ESA 1927-1 NE(01-28-05)Page5 of7