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<br />(E+) To use the loan evidenced by the note solely (or purposes authorized by the Government. <br />(7) To pay when due ail taxes, liens, judgments, encumbrances, and assessments lawfully attaching to or assessed <br />against the property, including all charges and assessments in rnnnection with water, water rights, and water stock <br />pertaining to or reasonably necessary to the use of the real property described above, and atl taxes and assessments levied <br />upon this mortgage or the note or any indebtedness hereby secured or against any legal holder hereof or of the rwte 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 />(4) To maintain improvements in good repair and make repairs required by the Gavemment; operate the property in a good <br />and husbandmanlike manner; comply with such farm conservation practices and Earm and home management plans as the <br />~Govecnrnent from time to time may prescribe; and not to abandon the property, or cause or permit waste, lessening or impair- <br />ment °se~a[aky-tosreredvhF,reby, or, without the written consent of the Government, cut remove, or lease any timber, <br />grevel; wl, gasp coal, a other minerals except as may be necessary for ordinary domestic purposes. <br />(10} To comply with all laws, ordinance=, and regulations affecting the property. <br />(11) To pay a 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 befoee 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, a[tomeys' fees, trustees' fees, court costs, and expenses of <br />advertising, selling, and conveying the property. <br />f12) Neither the property nor any portion thereof or interest therein shall 6e leased, assigned, sold; transfeaed, or encum- <br />bered, voluntarily or arherwise, without the written consent of the Government. The Government shall have the sole and <br />exclusive rights as mortgagee hereunder, including but not limited to the power to grant consents, partial releases, subordina- <br />bons, and satisfaction, and no insured holder shall have any right, title os interest in or to the lien or any benefits hereof. <br />(23} At all reasonable times the Government and its agents may inspect the property to ascertain whether the covenants <br />and agreements contained herein or in any supplementary agreement are being performed. .. <br />(14) The Government may extend and defer the maturity of and renew and reamortize the debt evidenced by the note <br />or any indebtedness [o 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 Iiabi)+ty to the Government of Borrower or any other party for payment of the note or in- <br />debtedness secured hereby except as specified by the Government in writing. <br />(15} Sf at any time it shall appear to the Government that Borrower may be able to obtain a r oan from a production ~_ .a <br />association, a Federal lard bank, or other responsible cooperative or private credit source, at reasonable rates and terms <br />for loans (or similar purposes and periods of time, Borrower will, upon the Government's request, apply for snd accept such <br />]aan in sufficient amount to pay the note and and indebtedness secured hereby and ro pay for any stock necessary to 6e <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 />seerrity instrument held ar insured by the Government and executed or assumed by Borrower, and default under any such <br />other security instrument shalt constitute default hereunder. <br />{17) SHOULD DEFAULT occur in the peg formance or discharge of any obligation in this instrcment or secured by this <br />instrument, or should any one of the parties named as Borrower die or be declared an incompetent, a bankrupt, or an <br />insolvent, or make an assignment for the benefit of creditors, the Government, at ics option, with or without notice, may: <br />(a) declare the entire amount unpaid under the note and any indebtedness to the Government hereby secured immediately <br />due and payable, fb) for xhe account of Borrower incur and pay reasonable expenses Eor repair or maintenance of and take <br />possession of, operate or rent the properey, (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 prodrded herein ar b}' law, and (e) enforce any and a1 other rights <br />and remedies provided herein oc by present or future taw. <br />(1R) 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 I:en; required by law or a comppetent court to <br />be so paid, (c) the debt evidenced by the note and ail indebtedness to the Government secured hereby, (d) inferior liens <br />of record required by law or a competent court to 6e so peed, {e) at the Government's option, any other indebtedness <br />of Borrower owing to or insured by the Government, and (f) any balance to Borcower. At foreclosure or other sale <br />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- <br />ment's share of the purchase price by crediting such amount on am• debts of Borrower owing to or insured by the <br />Government, in the order prescribed above. <br />(19) Borrower agrees that the Government will not be bound by any present ~~ future State law, (a) providing for <br />valuation, appraisal, homestead or exemption of the property, (b} prohibiting maintenance of an action for a deficiency <br />judgment or limiting the amount thereof nr the time within which svclt action must be brought, (c) prescribing any other <br />statute of limitations, {d) allowing any right of redemptior. or possession following any foreclosure sale, or (e) limiting the <br />conditions which the Government may by regulation impose, including the interest rate it may charge, as a condition of <br />approving a transfer of the property to a new Borrower. Borrower expressly waives the benefit of any such State taws. <br />Borrower hereby relinquishes, waives, and conveys all rights, inchoate or consummate, of descent, dower, and curtest'. <br /> <br /> <br /> <br />