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<br />{f} To use the loan evidenced by the note solely for purposes authorized by the Government. <br />('n To pay when due all taxes, liens, judgments, encumbrances, and assessments lawfully attaching to or assessed -- <br />against the property, including all charges and assessments in connection with water, water rights, and v:ater stock <br />pertaining to or reasonably necessary to the use of the real property described above, and all taxes and assessments levied <br />upon this mortgage oe the note oe any indebtedness hereby secured or against any legal holder hereof ox of the note or of <br />said indebtedness under the laws of Nebraska, and promptly deliver to the Govemment without demand receipts evidencing <br />such payments. <br />(8) To keep the property insured as required by and under insurance policies approved by the Government and, at its <br />request, to deliver such policies to the Government. <br />{9) To maintain improvements in good repair and make repairs required by the Government, operate the property in a good <br />turd husbandmanlike manner, comply with such fa-m conservation practices and farm and home management plans as the <br />Gcv~ ;.,..€nt from time to time may prescribe; and not to abandon the property, or cause or permit waste, lessening or impair- <br />ment of the security covered hereby, or, without the written consent of the Government, cut remove, or lease any timbeq <br />gravel, oil; gas, coal, or other minerals except as may be necessary for ordinary domestic purposes. <br />(I O) To comply with all laws, ordinances, and regulations affecting the property. <br />(11) To pay a reimburse the Government for expenses reasonably necessary or incidental to the protection aEthe lien <br />arsd prierily 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' tees, court costs, and expenses of <br />advertising, setting, and conveying the property. <br />(12) Neither the property nor any portion thereof or interest therein shah be leased, assigned, sold;transfened, or encum- <br />bered, voluntarily or otherwise, without the written consent of the Government. The Government shall have the sole and <br />erclusive rights as mortgagee hereunder, including but not limited to the power to grant consents, partial releases, subordina- <br />[ions, and satisfaction, and no insured holder shall have any right, title or interest in or to the lien or any benefits hereof. <br />(I3) At all reasonable times the Government and its agents may inspect the property to ascertain whether the Covenants <br />and agreements contained herein arin any supplementary agreement are being performed. <br />(14} The Government tray extend and defer the maturity of and renew and reamortirx the debt e~~denced by the note <br />ur any indebtedness to the Government secured hereby, release from liability to [fie Government any Harty sa Ilable thereon, <br />release portions of the property from and subordinate the lien hereof. and waive ary other rights hereunder, without affecting <br />the lien or priority hereof or the liability to the Government of Borrower or any other party fur payment of the note or in- <br />debtedness secured hereby except as specified by the Government in writing. <br />(15) [f at any time it shall appear to the Government that Borrower may be able to obtain a loan from a pcodcrction credit <br />association, a Federal land bank, or other responsible cooperative or private credit source, at reasonable rates and terms <br />fu loans for similar purposes and perms of time, $arrow•e: w:ll, up,-x~ the Gaverriment's reeuest, apply for and accept such <br />loan in sufficient amount to pay the note and any indebtedness secured hereby and to pay far any stack necessar ie <br />purchased in a cooperative Iending agency in connection with such loan. <br />{1v) Decault hereunder shall constitute default under any other real estate, or under any personal property or other, <br />security instrument held or irxured by the Goverrmert and executed a assumed by $arrnwer, and default under any such <br />other security instrument shall constitute default hereunder. <br />17) SHOULD DEFAULT occur ir. the performance or dixhazge of any obligation in this instrument or secured by this <br />instrument, or should any one of the pazties named as Borrower die or be declued an incompetent, a bankrupt, or an <br />insolvent, or make an assignment for the benefit of creditors, the Government, at its option, with or without notice, map: <br />(a! dedaze the entire amount unpaid under the note and any indebtedness to the Government hereby secured immediately <br />due and payable, (b) for the account of Borrower incur and pay reasonable expenses for repair or maintenance of and take <br />possession of, operate ar rent the property, (c) upon application by it and production of this instrument, without other <br />evidence and without notice of hearing of said application, have a receiver appointed for the property, with the usual powers <br />of receivers in like cases, (d) foreclose this instrument as provided herein or by law, and (e) enforce nay and all other rights <br />and remedies provided herein or by present or future law. <br />(18) The proceeds of foreclosure sale shall be applied in the Following order to the paymene oE: (a) costs and expenses <br />incident to enforcing or tom lying with the previsions hereof, (b) any prior liens required by law or a comppetent court to <br />be so paid, (c) the debt evi~enced by the note and all indebtedness to the Government secured hereby, (d) inferior liens <br />os' record required by law or a competent court to be so paid, (e) at the Government's option, any other indebtedness <br />of Borrower owing to or insured by the Government, and (~ any balance to Borrower. At foreclosure ar other sale <br />of all or any part of the property, the Government and its agents may bid and purchase as a stra;tger and may pay the Govern- <br />ment's share of the purchase price by crediting such amount on any debu of Borrower owing to or insured by the <br />Government, in the order prescribed above. <br />(19} Borrower agrees that the Govermnent will not be bound by nay present or future State taw, (a} providir_g Cot <br />valuation, appraisal, homestead or exemption of the property, (b) prohibiting maintenance of an action far a deficiency <br />judgment or limping the amotmt thereof or the time within which such action must be brought, (c) peescribing any other <br />statute of timutations, (d) allowing any right of redemption or possession following any foreclosure sale, or (e) limiting the <br />rundiH3ns which the Government may by regulation impose, ntetuding the L-tterest rate it may charge, as a condpion of <br />approving a transfer of the property to a new Borrower. Borrower expressly waives the benefit of any such State laws. <br />Borrower hereby relinquishes, waives, and conveys all rights, inchoate or consummate, of descent, dower, and curtesy. <br />Le. <br /> <br /> <br />