<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 />
|