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009.112
<br />(5)• All advances'by the Government as described in this instrument, with interest,`shall be immediately due and payable
<br />by Borrower to the Government without demand at the place designated in the latest. note and shall be secured hereby. No
<br />such advance by the Government shall relieve Borrower from breach of his covenant to'! pay.Such advances, with interest,
<br />shall- be repaid from the first available collections received from Bdrrower. otherwise; ;'any payment made by Borrower may
<br />be applied on .the note or any indebtedness to the Government. secured hereby in any order the Government determines.
<br />(6) To use the'loan evidenced'by the note solely for purposes authorized•bythe Government. -
<br />('n To pay when due all taxes, liens, judgments, encumbrances, and assessments; lawfully attaching to or assessed
<br />against the pr6perty, including all charges and assessments in connection with .water,. water ,rights, . and water'stoc}
<br />pertaining to or reasonably necessary -to the use of the real property described above, and all taxes and assessm, ats levied ..
<br />upon this mortgage or the note or any indebtedness ' hereby secured or against any legal holder' hereof or of the note or of
<br />saidindebtedness under the laws of Nebraska, and promptly deliver to the Government' 'Without demand receipts evidencing
<br />such payments. j
<br />(8) To keep the property insured as required by and under insurance policies approved by, 'delivered to, and retained by
<br />the Government.
<br />(9) To maintain improvements, in, good repair and make repairs required by the Government; operate the property in a good
<br />and husbandtpanlike'•' manner;: omNan
<br />ply with .such farm conservation practices d farmi and home management plans as the
<br />Government from.time to'time'may prescribe; and not to abandon the property,' or -cause: or permii waste, lessening or impair-
<br />ment of the security covered hereby, or, without the written consent of the Government, -cut remove, or lease any timber,
<br />gravel, oil, gas, coal,. or other minerals except as may.be necessary for ordinary domestic purposes.
<br />(10) To comply with all laws, ordinances, and regulations.affecting the property.
<br />(11) To pay or reimburse the Government for expenses reasonably necessary or incidental to the protection of the lien
<br />and . priority hereof and to the enforcement of or the compliance with the provisions hereof and of. the note and any supple-
<br />mentary agreement (whether before or after default),, including' but not limited' to costs' of evidence of title to and'survey of
<br />the property, costs .of, recording this and, other instruments,- attorneys' fees,' trustees'; fees; court costs, and expenses of
<br />advertising, selling, and conveying the property. j
<br />(12) Neither the property nor. any portion thereof. or interest therein shall be leased, assigned; sold; transferred, or encum-
<br />bered, voluntarily or otherwise, -without the written consent of the Government. The Government shall have the sole and
<br />e2clusive rights as mortgagee hereunder, including but not limited to the powerito grant' consents,: partial releases, subordina-
<br />tions, and satisfaction, and no insured holder shall`ha�ie' any right, title or interest in or to theilien'or any benefits hereof.
<br />(13) At all reasonable times the Government and its agents may inspect the property to ascertain whether the covenants
<br />and agreements contain6&herein or inany supplementary agreement are being pe'rformed.l i
<br />(14) The Government may extend and defer the maturity of and renew and reamortiie the debt; evidenced by the note or
<br />any indebtedness to the Government secured hereby, release from liability to the Government any party so liable thereon,
<br />release portions of the property from and subordinate the lien hereof, and waive any other rights' hereunder, without affecting
<br />the lien or priority hereof or the liability to, the Government of Borrower or any other party for payment of the note or in
<br />debtedness secured hereby excelt as specified by the Government in writing
<br />(15) If at any time it shall appear to the Government that Borrower may b'e able toobtain'a loan from a production credit
<br />association, a .Federal land bank, or other responsible cooperative: or private credit source, at reasonable rates.and Iterms'
<br />for loans for similar purposes and periods of time, Borrower will, upon the Government's request, apply for and accept such
<br />loan in sufficient amount to pay the note and any indebtedness secured hereby andl to pay for any stock necessary to be
<br />purchased in a cooperative lending agency in connection with such loan.
<br />(16) Default hereunder shall constitute default under any other real estate, or under any, personal property or other,
<br />security instrument held or insured by the Government and executed or assumed by Borrower,! and default under any such
<br />other security instrument shall constitute default hereunder. '
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<br />(17) SHOULD DEFAULT occur in'the'performance or discharge of'any obligation secured by this instrument, or should any
<br />one of the parties named as Borrower die or be declared an incompetent, .a bankrupt, or;av insolvent, or make an assignment
<br />for the benefit, of creditors, the Government, at its option, with or .without notice, may I:i(a) declare the entire amount unpaid
<br />under the note and any indebtedness to the Government hereby secured imm, iliately due and !payable, (b) for the account of
<br />Borrower incur and pay reasonable expenses for repair or maintenance of and take possession of, operate or rent the property,
<br />.(c) upon application by it and production of this instrument, without other evidence and ''without notice of hearing of said ap-
<br />plication, have a receiver appointed for the property, with the usual powers of recei'v'ers in like.cases, (d) foreclose this
<br />instrument as provided herein or by law, and (e) enforce any and all other rights and remedies provided herein or by present
<br />or future law.
<br />'(18) The proceeds of foreclosure sale shall be applied in the following order to the payment of: (a) costs and :expenses
<br />incident to enforcing or complying with the provisions hereof, (b) any prior liens required by law or a competent court to be so
<br />paid, (c) the debt evidenced by the: note and all indebtedness to the Government gecured hereby, (d) inferior liens'of record
<br />required by law or a competent court to be so paid, (e) at the Government's option, any'other indebtedness of Borrower owing
<br />to or insured by the Government, and (f) any balance to. Borrower. •• At foreclosure or other sale of.all or any part of the pro-
<br />'•perty, the Government and its agents may i•:d and purchase as a stranger and may pay the, Government's share of -the purchase
<br />price. by crediting'such amount on any debts of Borrower owing to or insured by�the Government, in the order prescribed above.
<br />(19) Borrower recognizes that, pursuant to Federal law, the Government will not -be bound by any present or future State
<br />Taws, (a) providing for valuation; appraisal, homestead or exemption of the property, (b) prohibiting maintenance of an action
<br />for a deficiency judgment or limiting the amount thereof or the time within which such action must be brought, (c) prescribing
<br />any other statute of limitations, (d) allowing any right of redemption -or possession following any_ foreclosure sale, .or (e)..
<br />limiting the conditions which the Government may by:_regulation impose, including the' interest rate it may charge, as a
<br />condition of approving a transfer of the property to a new Borrower. Borrower expressly waives the benefit of sny such
<br />State laws
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