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<br />I'+i; To use ehr Icra~n e~eid~ea[ced by tl:e note sv}ely for purposes aui3iorrt::i by t}ie Government. <br />^) Ta pay whet due a!'i ratxes, liens, jud}pnrnts. encumbrances, anzl assessments lawfully attaci:irg to ar assessed <br />agairtsx tlvc property, Ure1'udirng all charges and assessmrnxs in can. e;;tian with water, water rights, and water stock <br />pertaining to or reazonably necessar}^ to the use vE the real property described above, and all taxes and assessments bred <br />upon this mortgage or the note or any sdehcedness hereby secured ar against any legal balder hereof ct of `hr note or of <br />card indebtedness under the laws of Nebraska, and promptly deliver zo the Government without demand receipts evidencing <br />such payments. <br />(8) To keep the ~rroperty insured as required by and under insurance policies approved by the Government and, at its <br />request, to deliver sucn po}telex to the Government. <br />~9) To maintain irnprovements in good re air and make repairs requued 6y the Government: operate the property in a <br />good and husbandmanlike manner: comply with such farm conservation practices and farm and home management plans as <br />the Government from tune to time may prescribe; and not to abandon the property, or cause or permit wash, lessening nr <br />impairment of zhe securit}• covered hereby, oz, without the writter consent aE the Government, cut remove, or lease any <br />timber, gr~teI, pilzgtias, coal, or other minerals excepx as may be necessary for ordinary domestic purposes. <br />{ld) ~Po;comjfbj with all laws, ordinances, and regulations affecting the property. <br />(11) ~'I'oigay-or reimburse the Government for experses reasonably necessary or incidental to the protection of the lien <br />and priontp"'hrreol<eaci.to. the ,enforcement of or the compliance with the provisions hereof and o: tl:e note and any supple- <br />. men[ary agreement (whether before or after default), including but not limited to costs of evidence of title ro and survey of <br />the propert}', costs of retarding this and other instruments, attorneys' fees, trustees' fees, toter costs, and expenses of <br />advertising,selling, and conveying the property. <br />(12) Neither the property nor any perrion thereof or interest therein shall be leased, assigned, sold, transferred, or <br />encumbered, voluntarily cr otherwise, without the written consent of the Government. The Government shall have the sole <br />anu exclusive rights as mortgagee irereumier, including but not limited to the power to grant consents, partial releases, <br />subordsations, and satisfaction, and no insured holder shall have any right, title or interest in or to the lien or any benefits <br />hereof. <br />(13j Ac all reasonable times the Government and its agents may inspect the property to ascertain whether the covenants <br />and agreements contased herein or in any supplementary aegzeemenc arc being pertormed. <br />(ld) The Government may (a) extend or defer the maturity of, and renew and reschedule the payments on, the <Lel;t <br />evidenced by the note or an}' indebtedness to the Government secured by this instrument, (b} release ar:y party who is <br />liable under chr note or for the debt from liability to the Government, (c) release portions of the property and subordinate <br />its lien, and (d; waive any other of its rights under this instrument. An}' and all this ran and will be done without affecting <br />the lira ar the priority of this instrument or Borrower's ar any other party's liability to the Gavernmrnt fc; payment of «Ite <br />note or debt secured by this sstnment unless the Government sa}'s otherwise in writing. HOWEVER, any forbearance by <br />the Government-whether erce or often-in exercising ary right or remedy under this instrument, or otherwise afforded by <br />applicable law, shall not 6e a waiver of or preclude the exerdse of any such right or remedy. <br />(151 If at anv time it shall appear to the Government that Borrower may be able to obtain a loan from a prod;rctian <br />credit association, a Federal land bank, or other responsible cooperative or private credit source, at reasonable rates and terms <br />for loans for similar purposes and period; of time, Borrower will, upon the Government's request, apply for and accept such <br />loan in sufficient amount to pay the note and any indebtedness secured hereby and to pay for an}• stock necessary to be <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 ar ocher, <br />security instrument held or insured by the Government and executed or assumed by Borrower, and default umlrr any such <br />other security instrument shall constitute defxuk hereunder. <br />(17) SHOULD DEFAULT occur in the performance yr discharge of any obligation in this instrument or secured by [his <br />instrument, or should the parties named as Borrower die or be declared an incempetenc, or shau}d any one of the par*.ies <br />named as Borrower be declared a bankrupt, or an insolvent or make an assignment Eor the benefit of creditors, the Govern- <br />ment, ar its option, with or without notice, may: Iaj declare the entire amount unpaid under the note and anv indebtedness <br />to the Government hereby secured immediatel}• due and payable, (b1 fur the account of Bonowe± incur and pay reasanablr <br />expenses t"ur repair or maintenance of and take possession oE, operate or rent dr_ property, (c; upon application by it and <br />production of this instrument, without other evidence and wit}tout notice of hearing a~ said application, have a receiver <br />appointed .far tltr property, with the usual pavers of receivers in like czscs, (d'1 fareclase this i.strumrnz as provided }:errs <br />or by law, and (r) enforce any and all o[hrr rights and remedies provided herein or 1?y present or fnturr law. <br />(18) Thr pproceeds of fvrrclusure sale shall be app}led in the following order tc the payn;ent ut: (s' tax«s and exprcrses <br />' ~ ~ r~.fote' - t h li d h ' - <br />,ei.,rnt 'o tog - rontp,yt;.g yuth tl:r pra--isic,-Es eteaf, (bj ary nrtor its rtyuua- - y ,aw or a camsre=ant ~aut~ to <br />~ be so paid, (c) the debt evidenced by the note and all indebtedness to the Government srcure.d he.rrhy, i ;t itftriur_ liens <br />of record required by law ar a competent court to be so paid, (c) at the Government s option, any other indebtedness of <br />Borrower owing to or insured 6y the Government. and (f) any balance to Borrower. At foreclosure or other sate of all or any <br />part of the property, the Government and its agents may bid and purchase us a stranger and Wray pay the Government's share <br />of the purchase price by crediting such amount on any debts of Borrower owing to or insured by the Government, in the <br />order prescribed above. <br />(19) $orrower agrees that the Government wi31 not be bound by an }' present or future State law, (a; providing for <br />valuation, appraisal, homrsread or exemption of the property, (b) prohibiting maintenance of an action for a tieiiciency <br />judgment or limiting the anrount thereof or the time withs which such action must br brougltt, ic) prescribing any other <br />statute aFlunitations, (dj allowing any right of redemption or possession fallowing any foreclosure sale, ur ;c;. limiting the <br />conditions which the Government may by regulation impose, including the interest rate it stay charge, ,+s .~ condition of <br />approving a transfer of the property to a new Borrower. Borrower expressly waives the benefit of any such titatr laws. <br />Borrower hereby relinquishes, waives, and cvnve}•s aLI rights, inchoate ar consuuvnate, of descent, dower, and r:umsy. <br /> <br /> <br />