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201400935
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8/19/2014 2:25:29 PM
Creation date
2/18/2014 4:26:11 PM
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DEEDS
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201400935
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NEBRASKA -- Farmer Mac UNIFORM INSTRUMENT (Open End) Form 5000.28 <br />201400935 <br />repair or restoration. <br />Borrower will operate the Property in a good and workmanlike manner and in accordance with all Applicable Law <br />and will pay all fees and charges of any kind in connection therewith. Borrower will use good farming and animal husbandry <br />practices. <br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, <br />Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or <br />prior to such an interior inspection specifying such reasonable cause. <br />6. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, <br />Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave <br />materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material <br />information) in connection with the Loan. <br />7. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If <br />(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal <br />proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such <br />as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority <br />over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender <br />may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this <br />Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the <br />Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over <br />this Security Instrument; (b) appearing in court; (c) paying reasonable attorneys' fees to protect its interest in the Property <br />and/or . rights under this Security Instrument, including its secured position in a bankruptcy proceeding, (d) perform any <br />farming operations related to the planting, growing, maintenance, and harvesting of crops located on the Property, and (e) <br />perform any ranching operations related to any animals located on the Property. Securing the Property includes, but is not <br />limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from <br />pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although <br />Lender may take action under this Section 7, Lender does not have to do so and is not under any duty or obligation to do so. <br />It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 7. Lender may <br />perform these or any other actions it deems necessary in Lender's sole discretion to preserve the value ofthe Property, and/or <br />assign to others the right to do same on behalf of Lender. Lender may make advances under this security instrument or other <br />instrument providing security for the Note, to protect the Lender's interest in this security instrument or other instrument <br />providing security for the Note from loss of value or damage. Any money so advanced (including reasonable costs of <br />recovery and attorneys' fees) plus interest at the default rate indicated in the Note shall become an obligation due and owing <br />under the terms of the Note immediately upon the date advanced by Lender and is an obligation of the Borrower secured by <br />the security instrument or other instrument providing security for the Note. <br />Any amounts disbursed by Lender under this Section 7 shall become additional debt of Borrower secured by this <br />Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, <br />with such interest, upon notice from Lender to Borrower requesting payment. <br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. Borrower <br />shall not surrender the leasehold estate and interests herein conveyed or terminate or cancel the ground lease. Borrower shall <br />not, without the express written consent of Lender, alter or amend the ground lease. If Borrower acquires fee title to the <br />Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. <br />8. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to <br />and shall be paid to Lender. <br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if <br />the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration <br />period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such <br />Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken <br />promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the <br />work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such <br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous <br />1111111111111111111 II 0 IIIII IIII IIi <br />2 <br />7 ®2014, All Rights Reserved <br />1513140214 [Doc Id 2210 M10302013] <br />
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