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;~ - r,r.,~. ,, <br />..... <br />16} To use the loan evidenced by the note solely for purpo~se.s a~~uthorized'by the Government. <br />{7} To pay when due all taxes, liens, }udgmerts, enrumbranees„ and assessments lawfully at?,aching to or assessed <br />against the propcrty,artcluding all charges and'assessmerrts ira, eonne,ttian with water, vd~ater rights, and water stacln <br />pertaining to or reasanabl'y necessary.ta Clie use of the real property described above, and a19, 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 noxe or of <br />sazd indebtedness under [he laws of Nebraska, and promptly deliver to the Government without demand receipxs evidencing <br />-such payments. <br />{8j To keep the property insured as required by and under insurance policies approved by the Gcvernment 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 [he property in a <br />good and husbandmanlike manner, comply w1t such farm conservation practices and farm and home managemc a Mans as <br />the Government from time to time may prescribe; and not to abandon the property, or cause or permit waste, lessening or <br />impairment of the~se~cun gered hereby, or, without the written consent of thz Government, cut remove, or lease any <br />timber, , o ~~, coal,or`o[her, rnineials except as may be necessary• for ordinary domestic purposes. <br />(10)` T om lv with`all"15ws, ordinances, and regulations affecting the property. <br />-t= <br />(11) ,Tp',paj!=ot=x+eunburse the Government for expenses reasonably necessary or incidental to the protection of the lien <br />and priority hereof an ii to the enforcement of or the compliance with dre provisions hereof and of the note and any supple- <br />. mentary agreement twhether before or afxer default), including but not limited to costs of evidence of title to and survec of <br />the property, casts of recording this and other instruments, attorneys' fees, trustees' fees, court costs, and expenses of <br />' advertising, selling, and conveying the property. <br />(12) Neither the property nor any portion thereof or interest therein shall he leased, assigned. sold, transferred, or <br />encumbered, voluntarily or otherwise, without the written consent of the Government. The Government shall have the sole <br />amt exclusive rights as martgagee hereunder, including but not limited to the yower co grant consents, partial releases, <br />subordirations, and satisfaction, and no insured holder shall have any right, title or interest in or to the Gen or any benefits <br />hereof. <br />(13) At all reasonable times the Governor€nt and its agents may inspect the property to ascertain whether the covenants <br />and agreements contained hereur or in any supplementary agreement are being performed. <br />(t4) The Government may (a) extend or defer the maturity of, and renew and reschedule the payments on, tilte debt <br />evidenced by the note or any indebtedness to die Govermnent secured by this instrument, (b} release any party who is <br />liable under the note or for the debt from liability to the Government, (cj release portions of the propert}' and subordinate <br />its lieu, and (d) waive any other of its rights under dais instrument. Any and all this can and will be done without ;effecting <br />the lien or the priority of this instrument or Borrower's or anv other party's liability to the Government for pa}'me~rt of"the <br />note or debt secured by this instrument unless the Government says otherwise in writing. HOWEVER, any forbcar;nce br <br />the Government-whether once ar often--in exercising any right or remedy under this instrument, or otherwise affdrded by <br />applicable law, shall not 6e a waiver of or preclude the exercise of any such right or remedy. <br />i15i If at anv *.in:e it shall appear to the Govermnent that Borrower may be able ro abtain a loan from a productian <br />credit association, a Federal land bank, or other responsible cooperative or private credit source, at reasonable rates and terns <br />forioans for similar purposes and periods of time, Borrawer will, upon the Government's request, apply for and accept such <br />loan in sufficient amount to pay the note and arty ingebtedness secured hereby and to pay for any stock necessar}' to be <br />Purchased in a cooperative lending agency in conneccianiwith such loan. <br />;16) Default hereunder shall constitute default under any other real estate, or under any personal property or other, <br />security instrument held or insured by the Government and executed or assumed 6y Borrower, and default under any such <br />other security instrument shall constinite default hereunder. <br />(17) SHOULD DEFAULT occur in the performance or discharge of any obligation in this instniment or secure4t by this <br />instrument, or should the parties narned as Borrower die or he declared an incompetent, or should any one of the parties <br />named as $orrower be declared a bankrupt, or an insalvent or make an assignment for the benefit of creditors, [he Govern- <br />. meat, at its option, with or without notice, may: (a) ,declare the entire amount unpaid under the note and any indi„litedness <br />to the Government hereby secured immediately due and payable, (b) for the account of Borrawer incur and pay rtti44anab}e <br />expenses for repair or maintenance of and take possession at, opera[e or rent the peopertt, (c) upon application bi' it and <br />production of this instrument, without other evident4r and witlieut notice of hearing of said applicarion, Nava a reteiver <br />appaimed far the property, with the usual powers ot" re:ceivers in tike caws, {d} foreclose this instrument as proviiTed herein <br />ar by law, and (el enforce any and all other rights and rermedies provided herein or by present ar Cuturr law. <br />{18} `f'he proceeds of foreclosure sale shall be applied in ehe foRawing order to the payment t: (ai costs artd expenses <br />'ncident to eiifartmg or comply ing with the p-ovisian} 6c rof, iL, any pn r bens requited by •aw ar a ~tmpctenic court xo <br />be so paid, (cl the debt evidenced by the note and .411 undebtedness to xh Gtavetnnlent secs r_d hereby ,ct; ,~P,rr;a. tens <br />of recerrd required 6y taw or a competent court co l:e,so paid. (e) at the Governrent's option, any other inndebtedness oY <br />13osowei-owing tc of insured b}' the Government, and iE) airy balance co Barniwer. At fareclesure cr acl:er sale c:falT or an4• <br />part of the property, the Government and its agents may bid and purchase as a stranger and may pay the Government's share <br />of the purchase pried by cre~'iting such amount on any debts o Borrawer owing to ar insurtd 6y die Government, in the <br />l order preuribed above. <br />(19) $orrower agrees drat the Government will not be bound 6y any present or future State law, a) praviding tar <br />valuation, appraisal, homestead or exemption of the property, {bj prahibiting maintenance of an action for a deficiency <br />}udgment ar limiting the amount thereof or the tone within which such action must be brought, (tj prescribing any n[lter <br />statute of limitations, (dl allowing any right of redemwntion or passessiun following any farcclosure sale, or (t:~l lu~iting the <br />conditions which the Government may by regulation impase, including the interest rate it niay charge, as ,i conyiitian cf <br />app}'ovutg a transftr`ti~ the property to a new Borrawer. Ronower expressly waives the henetu ajf any sut:h 4tatr laws. <br />Borrower hereby relinquishes, waives, and tamtys all rights, uichaate ur cvriaumntatc, of descent, dower„ and turtesy. <br /> <br /> <br /> <br />