76000885 - Laserfiche WebLink

Browse

101.11111.111111.11.11111.111111.a. /111111111===mmilmor • 76" 600885 • • (6) To use the loan evidenced by the note solely for purposes authorized by the Gom owfuli attachingto or assessed (7) To pay when due all taxes, liens, judgments, encumbrances, and assessments lawfully against the property, including all charges and assessments in connection with water, water rights, and water stock pertaining to or reasonably necessary to the use of the real property described above, and all taxes and assessments levied upon this mortgage or the note or any indebtedness hereby secured or against any legal holder hereof or of the note of of said indebtedness under the laws of Nebraska, and promptly deliver to the Government without demand receipts evidencing ' such payments. (8) To keep the property insured as required by and under insurance policies approved by , delivered to , and retained by the Government . in a good (9) To maintain improvements in good repair and make repairs required by the Government ; operate the property and husbandmaniike manner; comply with such farm conservation practices and farm and home .management plans as the Government from time to time may prescribe ; and not to abandon the property, or cause of permit waste , lessening or impair- ment of the security covered hereby, or, without the written consent of the Govemment , cut remove , or lease any timbet , gravel , oil, ta _s ebal , or other minerals except as may be necessary for ordinary domestic purposes . (10) To comply with - alllaws , ordinances , and regulations affecting the property . (11 ) To pay or reimburse the Government for expenses reasonably necessary or incidental to the protection of the lien and priority hereof and to the enforcement of or the compliance with the provisions hereof and of the note and any supple- mentary agreement (whether before or after default), including but not limited to costs of evidence of title to and survey of the property , costs of recording this and other instruments . attorneys' fees , ttustees' fees , coutt costs , and expenses of advertising, selling, and conveying the property . ( 12 ) Neither the property nor any portion thereof or interest therein shall be leased , assigned , sold ; transfened, or encum- bered, voluntarily or otherwise , without the written consent of the Government . The Government shall have the sole end exclusive rights as mortgagee hereunder, including but not limited to the power to giant consents , pattiat releases , subordina- tions, and satisfaction , and no insured holder shall have any right , title or interest in or to the lien or any benefits hereof . (13) At ail reasonable times the Government and its agents may inspect the property to ascertain whether the covenants and agreements contained herein or in any supplementary agreement ate being performed . ( 14) The Government may extend and defer the maturity of and tenni and reamortize the debt evidenced by the note or any indebtedness to the Government secured hereby , release foam liability to the Government any patty so hable thereon , release portions of the property from and subordinate the lien hereof , and waive any other rights heteunder , without affecting the lien or priority hereof or the liability to the Government of Borrower or any other party tot payment of the note or in debtedness secured hereby excelt as specified by the Government in writing. ( 15) if at any time it shall appear to the Government that Borrower may be able to obtain a loan from a production ere e association, a Federal land bank , or other responsible cooperative or private credit source , at reasonable rates and to as for loans for similar purposes and periods of time , Borrower will , upon the Government 's request , apply for and accept such loan in sufficient amount to pay the note and any indebtedness secured hereby and to pay for any stock necessary to 'ie purchased in a cooperative lending agency in connection with such loan . ( 16) Default hereunder shall constitute default under any other real estate , or under any personal property or other , security instrument held or insured by the Government and executed yr assumed by Borrower . and default under any such other security instrument shall constitute default hereunder . ( 17 ) SHOULD DEFAULT occur in the performance or discharge of any obligation in this instrument or secured by this instrument, or should any one of the parties named as Borrower die or be declared an incompetent, a bankrupt, or an insolvent, or make an assignment 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 indebtedness to the 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 receivet appointed for the property, with die usual powers of receivers in like cases, (d) foreclose this instrument as provided herein or by law, and (e ) enforce any and all other rights and remedies provided herein or by present or future law. ( 18) The proceeds of foreclosure sale shall be applied in the following order to the payment of: (a) costs and expenses incident to enforcing or complying with the provisions hereof, ( b) any prior liens required by law or a competent court to be so paid, (c ) the debt evidenced by the note and all indebtedness to the Government secured hereby, (d) inferior liens of record required by law ora competent court to be so paid , (e) at the Government's option . any other indebtedness of Borrower owing to or insured by the Government, and ( f) any balance to Borrower. At foreclosure or other sale of all or any part of the property, the Government and its agents may bid and purchase as a stranger and may pay the Govern- ment's share of the purchase price by crediting such amount on any debts of Borrower owing to or insured by the Government , in the order prescribed above. ( 19) Borrower recognizes that, pursuant to Federal law, the Government will not be bound by any present or future State law, (a) providing for valuation, appraisal, homestead or exemption of the property , (b) prohibiting maintenance of an 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 Government may by regulation impose , including the interest rate it may new orrower. Borrower enefit of any such Statetlaws.tion oBorrowf erhereby relinquishes, waives, and g a transfer of the property to aconveys all rights, inchoate eorpconsummate, of dxressly waives the escent, dower , and curtesy.