|
~~Cl~~.l.4~.
<br />j6) To use the laanevidenced bythe note solely for purposes. authorized by the Governmant~
<br />(7) „ -To. pay when due all waxes; liens,. judgments, encumbrances, and assessments lawfully attaching to or assessed
<br />~. against the property,: including all charges and assessments inconnection"with waxegwater rights, and water stock pertaining
<br />to or reasonably necessary to the use of the real property described above, and. all taxes and assessments levied upon this
<br />mortgage or the note or any indebtedness hereby-secured or against any legal holder hereof or of the note or of said' u~-
<br />debtedness under the laws of Nebraska, and promptly deliver to the. Government without demand receipu evidencing such
<br />".payments:
<br />(S} To keep the property insumd as required by and under insurance policies approved; by the Government and, at
<br />itsrequest,-to deliver such policiesao the Government,
<br />(9) , To maintain impravements in good repair and make repairs required by the Government; operate the. grnnerty
<br />in a good and husbandmanlike manner; comply with such farm conservation practices and farm and home managemer.r plans
<br />az the Government from time to tt.-ne mad:- prexribe; and nut to abandon the property, or cause oc permit waste, lessening or
<br />impairment of the security covere3 h,.reby, or; without the written consent of the Government, cut, remove,: or least any
<br />timber; gravel, otl, gas; coal; or other minerals except as may be;necessary for ordinary domesticpurpases.
<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 ar inddental to the protection of the lien
<br />and priority hereof and to the enforcement of or the compliance with the provisions hereof and of fhe note and any supple:
<br />rnentary agreement iwhether'before or after default!, including bus not litnited e~ cosu o£ evidence of title to andaurvey of
<br />ahe property; costs of recozdmg;thSs'any'otherinstruments, attorneys' fees,. trustees' fees, tout: costs, and. expenseso£advez-
<br />rising„ sellingandcon eying the property:..
<br />(12) Neither the property nor any portion thereof or interest therein shall fie leased, assigned, sold, transferred, ar
<br />encumbered voluntarHy or otherwise,..witltout the written consent of the Government The`Goverxunent shall have the sole
<br />" and exclusive rights as. mortgagee hereunder, including but now limited roahe. Bower to grant consents, partial releases, suh-
<br />ardinatians, and satisfacxion; and no insured balder shall have any rights; title or interest in onto the lien or any lienefits
<br />hereaf.
<br />(13) At aIl reasonable. times the Government and ies ageau may inspecs. the propperty to axertainwhether thecov-
<br />enants and agreements contained herein or in any"supplementary agreement are being performed:
<br />{14}'The Government may {a) extend or defer the maturity of, and renew andreschedule the payments on, the deb:
<br />evidenced by the note or any indebtedness to the Government secured 6y this instnunent; (b) release:: any parry;who is
<br />.liable- under tfre note or for the debt from-liabfliry to the Government, {c) release portions of the property and suSordanate
<br />its lien,: and (d) vuarve any other of its rights under .his. instrument.:Any and all this can and willbc'done withont affecting
<br />chp leer or he priority of this instrument or Borrower's. or any other parry's liability to the Government'foz;payrnent of the
<br />noxe or debt'secured' by this instrument unlesstkc Government ays otherwise in writing., HpWEVEk, any Forbearance°by
<br />the Government-whether once: or afttn-in exercising any right or remedy ,under this' instrument, or otherwise afforded by
<br />applicable law, shall not be a waiver of or preclude the exercise of 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 association, a Federal land bank, or other-espunsi63e cooperative orprivate credit source, at reasonable rates and corm:
<br />for towns for similar purposes and periods of time;. $orrower will, upon the Government's request, apply For and accepasuch
<br />:.loan in sufficient amount to :pay. xhe note and any indebtedness secured hereby and m gay for arzy stock necessary to be
<br />purtltased in a cooperative lending agency in connection with such loan.
<br />{16} Default hereunder'shall consximte default under any other real estate. or under any personal property or ctner.
<br />security instrument held or insured by the Governmenrand executed ozassumed by Borrower, and default under anysuch
<br />arbor security instrument shall consritute defaulthereunder
<br />(17} SNOITLD DEFAULT: occur in the performance ardiscitatge of any obligation in this inscument or ecured b}
<br />this uistrument, or should the pparties named as Borrower die oz be :- elated an ncompetenx, orshould an}' one of the parties
<br />namod as Borrower be declared a bankrupt, or an insolvent or make an assignment fox the benefit of credixors; the Goverr.-
<br />ment, ar its option, with or without notice; magi {a) declare the entirrainountunpaid under the note and any indebtedness
<br />to tha Government hereby securedimmediateiy.:due andpayable, (b),foathe account of Borrowez:incur and pay reasonable.
<br />expenses for repair or maintenance of and take possession of, operate or tone the progeny, tc) upon: application by it and
<br />production of chis'insvumenc, without ocher evidence and without notice of hearing of said application, have a receiver
<br />appainted for the property; wixli the usual powers of receivers in like casts, ~dy foredoseihismstntmentas provided. herein
<br />or by law, and (e) enforce any and all other rights and remedies provided herein ar by present or future law:'
<br />(18j The proceeds of foreclosure sale shall be applied in tha follawing order to the payment of: (aj costs and expenses
<br />:incident to .enforcing or complying with the provisions hereof; =b) any prior liens required by law or a ~omppetenx court to be
<br />so paid,. {c) the debt evidenced by the Dote and all indebtedness to "the: Government secured hereby, (d) inferior liens of
<br />record required by Iawcor a competent court to be so pairL (e) at the Governmrnt's option. any arbor indebcednessof Bor-
<br />tower owitig to oEinsured by the Government, and {fj any:baLance to Barrower..At foreclosure or other sale of all"gin 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 dte purchase price, by credixing such amount nn any debts of Borrower owing to or insured by the Government: in tltc
<br />order prescribed above(
<br />(19) Borrower agrees that the Government wt11 not be`bommd by any present or future State law, {a) providing for
<br />valu.,tion, appraisal;- homestead ar exemption of the property; (b) prohibiting trxainxenance of an action for a deficiency
<br />judgment or limiting the amount thereof oz the time within which such action must be brought, (c), prescribing any other
<br />statute of limiations {dj aIlow'vtg any right of redemption ar possession following vrv foreclosure sale, or (e} limiting the
<br />conditions.wbich the Government may by regulation impose;"including the interest rate it may charge;.as a condition of
<br />approving a transfer-of the gropetty to a new $orrower. $orzower expressly waives the ber,cfxt of any such `State laws.
<br />
|