79003476 - Laserfiche WebLink

Browse

79~ Ut)3476 (b) To use the loan evidenced 6y the note solely for purposes authorized by the Government. (7) To pay when aue all taxes, liens, judgmees, encumbrances, and assessments lawfully attaching to or assessed against [he property, including all charges and assessments in connection with water, water rights, and water stock pertaining to or reasonably necessary to the use of the real property described above, and all taxes and assessments levied upon this mortgage or tare note or any indebtedness hereby secured or against any legal holder hereof or of the cote or of said indebtedness under the laws of Nebraska, and promptly deliver to the Government without demand receipts evidencing such payments. ($) To keep the property insured as required by and under insurance policies approved by the Government and, at its request, to deliver such policies to the Government. ' (9) To maintain improvements in good repair and make repairs required by the Government; operate the property in a good and husbandmanlike manner; comply with such farm conservation practices and farm and home management plans as the Government from time to time may prescribe; and not to abandon the property, or cease or permit waste, lessening or impair- ment of fi,(a;,•~CSlt1;.ty.eovered..hereby, -oe, without the written consent of the Government, cut remove, or lease any timber, gravel, oil, gas, coal, a other minerals except as may be necessary for ordinary domestic purposes. (10) To comply with all laws, ordinances, and regulations affecting the property. (11) To pay a reimburse the Government for expenses reasonably necessary or incidental [o the protection of [he lien and priority hereof and to [he enforcement of tx the compliance with the provisions hereof and of the note and any supple- iaentary agreement (whether before or after defaiat), including but not limited to costs of evidence of title to and survey of the property, casts of recording this and ocher instruments, attorneys' fees, trustees' tees, court costs, and expenses of advertising; selling- aad conveying the prapPrt}~ (12) Neither the property nor any portion thereof or interest (herein shah be leased, assigned, sold; transferred, or encum- bered, voluntarily or otherwis=, without the written consent of the Government. The Government shall have the sole and eslusive rights es mortgagee hereunder, including but not limited to the power to grant consents, partial releases, subordina- tia~s, and satisfaction, and no insured holder shall have any right, title or interest in or to the lien or any benefits hereof. (13) At all reasonable times the Government and its agents may inspect the property to ascertain whe[herthe covenants aad agreements contained herein or in any supplementary agreement are being performed. (la) The Government tray extend and defer the maturity of and renew and reamortiie the debt evidenced 6y the note ar any indebtedness to the Governmrm secured hereb}~, release from liability to the Government an} party so liable thereon, release portions of the property from and subordinate the lien hereof, and waive any other rights hereunder, without affecting the lien or priority hereot or the liability to the Guventntent of Borrower or ary other party fur paymen! of the note or in- debtedness secured hereby exrxpt as speciiled by the Government in writnig. {15) If at any time it shall appear to the Government that Borrower may be able to obtain a loan from a production credit association, a Federal land bank, or other responsible cooperative of private credit source, at reasonable rates and terms fa loans for similar purposes and periods of time, Borrower will, upon the Government's request, apply for and acrept such loan in sufficient amount to pay the note and any indebtedness secured hereby and to pay for any stock necessary to be purchased in a cooperative lending agency ir, connection with such loan. {Ib) Default hereunder shall constitute default under any other real estate, or under any personal property or other, security instrument held ar insured by the Government and executed or assumed by Borrower, and default under env such other security insvument shall constitute default hereunder. " (17i SfiCrULD DEFAULT occur in the performance or discharge of any o62igation in this instrument or secured by this instrument, or should am one of the parries earned as Borrower die or be declared an incompetent, a bankrupt, or an insolvent, cr make an assignment for the benefit of creditors, the Government, at its opricn, with ur without notice, may (a} declare the entire amount unpaid under the note and an}' indebtedness to the Government hereby secured immediately due and payable, jbj for thr account of Borrower incur and pay reasonable expenses for repair or maintenance of and take possession of, opuate or rent the property, (c? upon application by it and production of this instnrment, vvitleaut other evidentt aad without notice of hearing of said application, haae a receiver appointed for the property, with thr usual powers oaf reecivers in like cases, ; d'; foreclose this instrument as provided herein or by law, and ;;e) enforcr any and all other rights and rtmedies provided herein er by present or future law. {28j Thr pprocmds of foreclosure sale shall be applied in the following order to the payment af: ar costs and expenses incident ro tnforcing or compplying with the provisions hereof, (b) env prior liens requ'vrd by law or a comppetent court to be so paid, (c the dtbt erdenced by the note and all indebedness to the Government secured hereby. (d) inferior liens of record required by law or a competent court to be sa paid, (e) at the Government's option, any other indebtedness of BorraWrr owing to at insured by the Government, and (f) env balance :o Berrcwer. At foreclosure or other salt of all ~ an} par, of the propem-, the Government and its agents may bid and purch.sc as a stranger :nd may pa} the Govern- ments sham of the purchasr .rice by crediting such amount on env drbts of Besrower ow^ine to cr insured by the Govrnmrnt, in r}rr order presci`tKd above. (19) &:nawtr agrees iha? The Goytrnrrien[ will oat be bound by any present ur future State law, ta) providing for valuation. appraisal, hornestead or exemption of the property, (b) prohibiting maintenance of an action for a deficiency judgtrce•nt or limiting the artxrunt thereo( or the titnz within which such action must he brought. (c) prescribing any other statute of limitaticvts, (d) allowing any right cf redemption or possession toiloxtnu an} It>rectosure sale, ar (e} limiting the rxxsditioru wlticft zhe Government ma} b}' stgulation impose, including the i;,rerest rate it may charge, as a candi[ion of approving a transfer of the property to a new Borrower. Borrower expressly waives ttte benefit of any such State laws. Borrower hereb} rcfinquishes, waives, and conv~evs all rights, inchoate or consummate. of Descent, dower, and cuntsy. I...,.