Laserfiche WebLink
~• fs <br />-3z;~~tr:a <br />(6) To use the loan evidenced Uy the note solely for purposes authorized by the Government. <br />(7} To pay when due all taxes, liens, judgments, encumbrances, and assessments lawfully attaching to or assessed <br />against the property, including ail charges and assessments in connection with water, water rights, and waur stock <br />pertaining to or reasonably necessary to the use of the real property described above, and all taxes and assessments levied <br />upon this mortgage or the note or any indebtedness hereby secured or a4,~ st any legal,hoider hereof or of the note or of <br />said indebtedness under the laws of Nebraska, and promptly deliver to the Government without demand receipts evidencing <br />such payments. <br />($)- To keep the property insured az required by and under insurance policies approved by the Government and, at its <br />request, to deliver such policies co [he Government. <br />(9) To maintain improvements in good repair and maKe repairs required by the Government; operatt ttze property in a <br />gaol and husbandmanlike manner; comply with such farm conservation practices and farm and home management plans as <br />the Government from time co time may prescribe; and not to abandon the property, or cause or permit waste, Lessening or <br />irirpairment of the security covered hereby, or, without the written consent of the Govern:rtent, cut remove, or lease an}' <br />timber, gravel, oil, gu, teal, or other minerals except as mxy be necessary for ordinary domestic purposes. <br />- (10)- To eompIy with all laws, ordinances, and regulations affecting the property. <br />(11) Tv pay yr reimburse the Government for expenses reasonably necessary or incidental to the protection of the lien <br />and priority hereof and to xhe enforcement of or the compliance with tits provisions hereof and of dte note and any supp]e- <br />mentary agreement (whether before or after default), inludiag but not limited to costs of evidence of title to and survey of <br />the properq•, costs 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 be leased, assigned, sold, transferred, or <br />encumbered, voluntarily or otherwise, without the written consent of the Government. The Government shall have the sole <br />anu exclusive rights as mortgagee i~ereunuer, including but not limited to the power to grant consents, oartial releues, <br />subordinarions, and satisfaction, and no insured holder shall have arty right, title oz interest in. or to the lien or any benefits <br />hereof. <br />(13) At all reasonable times the Government and its agents may inspect the property m ascertain whether the covenants <br />and agreements contained herein or in any supplementary agreement are being performed. <br />(14) The Govemment ma}' (,a) extend or defer the maturity of, and renew and reschedule the pa}ments on, the debt <br />evidenced by the note or anv indebtedness to the Government secured by this instrument, (b) release any party who is <br />liable under the note or for the debt from liab$icv to the Government, i;c) release portions of the property and subordinate <br />its lien. and !d? waive any other of its rights ender this instrument. Any and all this can and will 6e done without affecting <br />the lien or the priority of this instrument or Borrower's or an}' other pazty's IiaUility to the Government for payment of the <br />note or debt secured by this instrument unless the Government sa}'s otherwise in writing. HOWEVER, an}' forbearance by <br />the Government-whether once or often-in exercising any right or remedy under this instrument, or otherwise afforded by <br />applicable law, shall not be a waiver of or prelude the exercise of an}' such right or remedy. <br />;15) if at anv time it shall appear to the Government chat Borrower may be able to obtain a loan from a production <br />credit association, x Federal land bank, or other responsible cooperative or private credit source, at reasonable rates and terms <br />for loans for similar purposes and periods of tune, Borrower ,vilh upon [he 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 any smock necessary to be <br />purchased in a cooperative lending agency in connection with such loa». <br />ilbj Default hereunder shall constitute defau]t under any other real estate, or under any personal proper[}' or other, <br />sevv:ity instrument held or insured by the Government and executed or assumed by Borrower, and default under any such <br />other security instrument shall constitute default hereunder. <br />117) SHOULD DEFAULT occur in the performance or discharge o f any obligation. in dtis instrument or secured by this <br />vstrument, or should the parties named as Borrower die or be declared an incornpctent, or should any one of the parties <br />^amed az Borrower be declared a Uankrupt, or an htsolvent or make an assignment for the UeneEit of creditors, the Govern- <br />ment, at ies option, with yr without notice, may: (a) declare the entire amount unpaid under the note and any indebtedness <br />to the Gayer-..:nenr hereby secured immediauly dun and payable, (bl for the account of Borrower incur and pag reasorabie <br />expenses for repair or maintenance of and take possession of, opp~raze or rent the Rroperty, 'c) upon application by it xnd <br />production of this instrument, without other evidence and without notice of hearing of said application, have a receiver <br />appointed for the property, with the usual powers of receivers in like cases, (d) foreclose this instrument as provided herein <br />or 6y law, and (e) enforce an}' and all ocher rights and remedies provided herein or by present or future taw. <br />(I$) The pproceeds of Foreclosure sale shall Ue applied in the following order to the pa}'ment of: (aj costs and expenses <br />incident to enforcing or complying with the provisions hereof, (b) any prior liens required by 13w or a competent court to <br />be so paid, (c} the debt evidenced by the note and all indebtedness to the Government secured hereby, (d) inferior liens <br />of record required by law or a competent court to Ue so paid, (e) at the Government's option, any other indebtedness of <br />Borrower owing to or insured by the Government, and (fl any balance to Borrower. At foreclosure or other sale of all or anv <br />part of the property, the Government and its agents may bid and purchase as a stranger and may pay the Govemment's.share <br />of the purchase price by crediting sucU amount on any deUts of Borrower owing to or insured by the Government, in the <br />order prescribed above. <br />- (19) Borrower agrees that the Government will not be bound Uy any present or tonne State law, (a) proviling 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 or the thne within which such action must Ue Drought, (c) resczibing any other <br />statute of-limitations, (d) allowing any right of redemption or possession fallowing :my foreclosure sale, or (e) limiting the <br />conditions which the Government may Uy regulation impose, including the interest rate i[ may cUarge, as a condition of <br />approving a transfer of the property to a new Borrower. Bor_owcr expressly waives the benefit of any such State laws. <br />Borrower hereby relinquishes, waives, and conveys all rights, inchoate or consummate, of descent, dower, and curtesy. <br /> <br /> <br />