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(Cr) To use the loan evidenced by the noee solely for purposes authorized by the Government. <br />(7} To pay when due all taxes, Irons, judgments, encumbrances, and assessmems lawfully attuhutg to or assessed <br />against the property, including all chuges and assessments in connection with water, water rights, and water stock pertaining <br />to or reasonably necessary to the use of the real property described above, and all taxes and assessments levied u on this <br />debted~riess under the laws of Nebraskaeandhpromptly delive~ to~hesGover mgen hwthout demand receipts teviden ~sg such <br />payments. <br />(g) 'fo keep the property insured as requued by and under insurance policies approved by the Government an , ac <br />its request, to deliver such policies to the Government. <br />(9) To maintain impprovements in good repair and make repairs requved by the Government: operate the property <br />in a good and husbandmanlike manner; comply with such farm conservation practices and fum and home management plans <br />u the Government from time to time may prescribe; and not co abandon the property, or cause or permit waste, lessening or <br />impairment of the security covered hereby, or, without the written consent of the Government, cue, remove, or lease any <br />timber, gravel, oil, gas, coal, or other minerals except as may be necessuy for ordinary domestic purposes. <br />(10} Ta comply with all laws, ordinances, and regulations affecting the property. <br />(11) To pay or reimb~rx the Government for expenses reasonably necessary or incidental to the protection of the lien <br />sad priority a_aa-~..-s--- ~EL~.eyn-t-o~f or~ thG compliance with the provisions hereof and of the note and any supple- <br />mentary agr wfiiet~5r befoix~br arfE: h.efault}, including but not limited to costs of evidence of title to and surny of <br />.L,Tr,.nnert.ti~~B~~~ndachlr instruments. artorneys' fees, trustees' fees, court costs, and expenses of adver- <br />tising, selling~~"f~F~ . _ ~ ---- <br />(12) Neither the property nor any portion thereof or interest therein shall be leased, assigned, sold, transferred, or <br />encumbered voluntuily or otherwise., without the written consent o£ the Government. The Governmentpshall have the sole <br />ordinations and satisfaction aandhnotunsuredtholder ghallihave a~yt ghtsrttitle o'c incere~st in o~ to the lientorrany Ixnefits <br />hereof. <br />(13) At all reasonable times the Government and its agents may inspect the pro erry to ascertain whether the cov- <br />eriantsand agreements contained herein or in any supplementary agreement ue being performed. <br />(14) The Government may (a) extend or defer the maturity of, and renew and reschedule the payments on, the debt <br />evidencedd by the nose or any indebtedness to the Government secured by this instrument, {b) release any party who is <br />liable under the note or for the debt from liability to the Government, (c) release portions of the property and subordinate <br />its lien, sad (d) waive any other of its rights under this instrument. Any and all this can and will bt done without affecting <br />the lien or the priority of this insxrumenx or Borrower's or any other puty's liability to the Government for payment of the <br />note or debt secured by this instrument unless the Governmem says otherwise in writing. HOWEVER, any forbevance 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 preclude the exercise of any such right or remedy. <br />(15) If at any time `' shall appeu to the Government that Harrower may be able to obtain a lout from a prods n <br />credit association, a Federal land bank, or other responsible cooperative or private credit source, at reasonable rates and terms <br />for loans for simile purposes and periods of [imq Borrower will, upon the Government's request, apply for and accept such <br />loan in sufftcient amoum to pay the note and any indebtedness secured hereby and to pay for any stock necessary to 6e <br />purchased in a cooperative lending agency ir. connection with such loan. <br />(16) Default hereunder shall constitute default under any ocher real estate, or under any personal property or other, <br />security 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 />(77) SHOULD DEFAULT occur in the perfo nuance or dischuge of any obligation in this instrument or secured by <br />this instrument, or should the parties Warned as Bortowcr die or be declued as incompetent, or should any one of the parties <br />named as Baaower be declared a bankrupt, er an insolvent or make an assignment far the benefit of creditors, the Govern- <br />ment, at its option, wick or without notice, may: (aj declare the entire amount unpaid under she note and any indebtedness <br />to the Government hereby secured immediately due and payable, rb} for the account of Borrower incur and pay reasonable <br />expenses for repair or maintenance of and take possession of, operate or rent the property. (c) upon application by it and <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) Toreclose this instrument as provided herein <br />or by law, and (e) entotce any and all ocher rights and remedies provided herein or by present or future law. <br />(18) The proceeds of foreclosure sale shall be applied in the following order to the payment of: (a) costs and expenses <br />incidene to enforcing or complying with the provisions hereof, (b) any prior Liens required by saw or a competent court to be <br />so paid, (c) the debt evidenced by thr note and ail indebtedness to the Government secured hereby, td) inferior liens of <br />record required by law or a competent court to be so paid, ~ e) at the Government's option, any other inaebtedness of Bor- <br />rower owing to or insured by the Government, and (f! ativ balance to Borrower. At foreclosure ur ocher sa}e of all or any <br />part of tht property, the Government and its agents may bid and purchase as a stranger and may pay the Government's shoe <br />of the purchase price by crediting such ainount on any debts of Borrower owing to or insured by the Government, in the <br />order prescribed above. <br />(14} Borrower agrees that the Govertunent will not be bound by any present or future State law, (a) providing for <br />valuation, appraisal, homeuead ar exemption of the preperty, (b) prohibiting maintenance of an action for a deficiency <br />judgment or limiting the amount thereof or the time within which such a.:tion must bt brought, {c) prescribing any other <br />statute of limitations, (d) allowing any right of redemption or yussession following any foreclosure sale, or (ej limiting the <br />conditions which the Government may by regulation impose, including the interest race it may charge, as a condition of <br />approving a transfer of the property to a new Bwrawc-r. Borrower expressly waives the benefit of any such State laws. <br />U <br /> <br /> <br />