|
- iss
<br />"be
<br />s
<br />105283
<br />To maintain iet�rorestaeaa fn rood repair and make repairs required b7 die Gatanmesst; operate the
<br />'sue isrrbsarittsashlbe stsantsser; cartply whir such farm taruetrat3bes practices and farts mead htsese taana�emeat
<br />retruateat f ;era time to elate ram pcatcribe; atzii not to abandon the property, or cause or permit waste, ksstt�t of stir,"
<br />is of the ' , Carmel hate., : + 4�tz�, c�i�. wrrittea consent of the Gonrnmeret, -.: tit, renut�; or
<br />aid, • ll� ee as Iraq ate ntcessrry for ordinary domestic ' '
<br />t To cttuipl :i tli a ;3la CSr?�r ?n
<br />,and regc34fions affeczutg the property.
<br />To -pair, ar �bo xh :�rwrrzaL nt fora :panne! reasa 'l�' iiecesaary or inoida am —_+ai "P ' f tie 1
<br />heset►f,gnd ro t'>urii ai£'ar she cos
<br />:; s*heflser p 1JP fe'pconritsotxstl am =r 2ts►ie'au..
<br />F crrilMifl faedR+ik'tu. aftl.x drs,it). issr '+elite di zorcatst� oft r sue.
<br />revs pe
<br />*costs of recordir ;mbiis and other-initrirment3, t '3 it `vessel sue►e5rt: r' „
<br />. e�tornefa' "fees. court ea mad O .
<br />' tisin�sta'liimgassi conrsytng tita'prtrperty. c ts. dies of adiitr- ,
<br />"(12) Except as othirwise provided by the Farmers Home Adminiatration regulations, neither the property nor any
<br />Portion thereof or i ntenst therein shall be leased assigned, sold, transferred, or encumbered voluntarily or othenrise, wi�out
<br />the written consent of the Government. The Government shall have the sole and exclusive rests as mortgagee hereunder,
<br />includinngg but not limited to the power to grant consents, partial releases, subordination, and satisfaction, and no insured
<br />holder shall have say rights, tint or interest in or to the lien or any benefits hereof.
<br />(13) At all reasonable times the Government and its agents may inspect tht: property to ascertain whether the cov-
<br />enants and agreements contained herein or in any supplementary agreement ore being performed.
<br />(14) 71ie Government may (a) adjust the interest rate, payment. terms or balance due on the loan, (b) increase the
<br />mortgage by an amount equal to deferred interest an the outstanding principal balance.(c) extend or defer shire maturity of,
<br />and renew ad m reschedule the payments on. -the debt evidenced by the note or any indebtedness to the Government secured
<br />by this Instrument, (d) release any party who is liable under the note or for the debt from liability to the Government,
<br />(e) release portkins of she property and subordinate its lien, and (f) waive any other of its rights sender this instrument. My
<br />and all chit can and will be dons without affecting the lien or the priority of this instrument or Borrower's or any other
<br />party.'s liability to the Government fot payment of the note or debt secured by this instrument unless the Government says
<br />otherwise in writing. HOWEVER, any forbearance by the Government - whether once or often -in exerazingg any right or
<br />remedy under this instrument, or otherwise afforded by applicable law, shall not be a waiver of or preclude rite exercise of
<br />any such right or remedy.
<br />(15) If at any time it shall appear to the Government that Borrower may be able to obtain a loan from a production
<br />credit tr&Mciatioe, a Federal land iAnk, or other responsible Cooperative or private credit source, at reasonable rates and terns
<br />for loans for similar purposes and petiods off:tcros,. Borrower will, upon the Government's request, apply for and accept such
<br />tan is sufficient amount to pay the note And. {ny it �Ir?�tcdtsess secured hereby amd to pay for any cock rxa to be
<br />p:rrcb *WJ in a cooperative kn ogagency in cvinermon wa.* such loan. ressary
<br />''(36) Default heteuntler, s W1- constitute default under any other real estate, or under any personal pr 1.
<br />or other,
<br />security- inatruuu rn iaeld or insured by the Govemmtnt and executc-f ex assumed by Borrower, and default under any such
<br />outer sacufity instrument shjXconititute default hereunder.
<br />(1,71 Borrower further agars that the loan(s) secured by this Wtrument wii be in default should ARV L'W proceeds
<br />be arses$: for s Purpose that wil; contribute to excessive erosion of highly erodible land or to the eomenio.4 wetlands to
<br />produce an agricultural commodity, as further explained in 7 CFR Pan 1940, Subpart G, Exhibit M.
<br />(18) SHOULD DEFAULT occur in tke. performance or discharge of any obligation in tam instrument or secured by
<br />this instrument, or should the parties named ss Borrower die or be declared an incompetent, oa"i!yauld any one of the parties
<br />named as Borrower be discharged in bankruptcy or dee lasA an insolvent or make art assignment for the benefit of creditors,
<br />the Government, at its option, with or without notice, 2.rsy: (a) declare the entire 471,wont unpaid under the note and any
<br />indebtedness to the Government hereby secured imrr r&a;a.y due and payable, (b) for t4e account of Borrower incur and pay
<br />reasonable expenses for repair or maintenance of and take possession of, operate or rent the property, (c) upon applicatdrot
<br />by it and production of this instrument, without other evidence and without notice of hearing of said application, have a
<br />receiver appoiated foe the property, with the usual powers of receivers in like cases. (d) foreclose this instrument as provided
<br />herein or by law. and (e) enforce any and all other rights and remedies provided herein or by present or future law.
<br />(19) Tht proceeds of foreclosure sale shall be applied in the following order to the payment of: (a) costs and expenses
<br />intidrRe to enforcing of Complying with the provisions hereof, (b) any prior liens required by law or a competent court to be
<br />so paid. (c) the debt evidenced by the note and all indebtedness to the Government secured hereby, (d) inferior liens of
<br />record required by law or a competent court to be so paid. (e) at the Government's option, any other indebtedness of Bar.
<br />rower owing to or insured by the Government, and (f) any balance to Borrower. At foreclosure or other sale of all or any
<br />part of the property, the Government and its agents may bid and purchase as a stranger and may pay the Government's share
<br />of the pure a price by crediting such amount on any debts of Borrower owing to or insured by the Government, in the
<br />order prescribed above.
<br />(20) Borrower agrees that the Government will not be bound by any present or future State law. (a) providing for
<br />valuation, apptaisal, homestead or exemption of the property, (b) prohibiting maintenance of an action for a deficiency
<br />jaelgrtent or limiting the amount thereof or the time wit -?n which such action must be browgy�f�t, (c) prescribing any other
<br />status# of limitations, V) allowing any right of redempr2wt cur possession follcyrf�,;, any foreclosure tale, sc i :limiting the
<br />ectetditions which the overnment may y regulation intQw;se, "`ck4M9 the rate it may charge, "al- "eottditioa of
<br />approving a traassfer of the property to a new Botrowcr. Boar ;iwo ;txpressly vvgives the Eye n 14 of asy t, --:.h State laws,
<br />g
<br />
|