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<br />g~-t1Q4s43 <br />(6) To.ux the loan evidenced by the note solely for purpoxs authorized by the Government. <br />(7) To pay when due all taxes, liens, judgments, encumbrances, and assessments lawfully attuhing to or uxsxd <br />against the property, including all chazges and assessments N connection with water, water rights, and water stock pertaining <br />to or reasonably necessary to the ux of the real property dexribed above, and all taxes and asxssments levied upon this- <br />mortgage or the note or any indebtedness hereby xcured or against any legal holder hereof or of the note or of said in- <br />debtedness under the laws of Nebraska, and promptly deliver to the Government without demand receipts evidencing such <br />payments. <br />(8) To keep the property insured as requued by and under insurance policies approved by the Government and, at <br />its request, to deliver such policies to the Government. <br />(4) To mainnin improvements in good repair and make repairs required by the Government; operate the property <br />in a good and husbandmanlike manntt; comply with such fum conxrvation prutices and fum and hame management plans <br />as the Government fcom time to time may prescribe; and not to abandon the property, or caux or permit waste, lesxning or <br />impairment of the ucurity covered hereby, or, without the written conxnt of the Government, cut, remove, or lease any <br />timber, gravel, oil, gas, coal, or other minerals except as may be necessuy for ordinary domestic purposes. <br />(10) To comply with all laws, ordinances, and regulations affecting the property. <br />(11) To pay or reimburx the Government for expenxs reasonably necessary or incidental to the protection of the lien <br />and priority hereof and to the enforcement of or the compliance with the provisions hereof and of the nou and any supple- _ <br />mentary agreement (whether before or after default), including but not limited to costs of evidence of title to and surveyy of - <br />the property, costs of recording this and other insaumertts, attorneys' fees, trustees' fees, court costs, and expenxs of adver- <br />tising, xlling 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 voluntuily or otherwix, without the written conunt of the Government. The Government shall have the sole -- <br />and exclusive nghts as mortgagee hereunder, including but not limited to the power to grant conxnts, p~~ia! releaxs, sub- <br />ordinations, and satisfaction, and no insured holder shall have any rights, title or inures[ in or to the lien or any benefits - <br />hereof. ' <br />(f3) At aU reasonable times the Governmene and its agents may inspect [he property to ascertain whether the cov- <br />enantsand 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 note or any indebtedness to the Government secured by this instrument, (b) rcleax any puty who is <br />liable under the note or for the debt Erom liability to the Government, (c) release portions of the pro rty and subordinate <br />its lien, and (d) waive any other of its rights under this instrument. Any and all this can and will be done without affecting -- <br />the lien or the priority of this inxmment or Borrower's or any other party's liability to the Government for payment of the <br />note or debt secured by this instrument unless the Government says otherwise in writing. HOWEVER, any forbeuance by <br />the Government-whether once moften-in exercising any right or remedy under this instument, or otherwise afforded by <br />applicable law, shall not b< a waiver of or preclude the exercix of any such right or remedy. , <br />(15) IE at any time it shall appeu to the Government that Borrower may be able to obtain a loan from a production <br />credit associarion, a Federal land bank, or other responsible cooperative or private credit source, at reasonable ntes and terms <br />for loans for similar purpoxs and periods of time, Borrower will, upon the Government's request, apply for and ucept such <br />loan in sufficient amount to pay the note and any indebtedness xcured hereby and to pay for any stock neeessuy to be <br />purchaxd in a cooperative lending agency in connection with such loan. <br />(16) Default hereunder shall constitute default under any other real ennte, or under any personal property or other, -. <br />xcurity instrument held or insured by [he Government and executed or assumed by Borrower, and default under any such <br />otha xcurity instrument shall constitute default hereunder. - <br />(t7) SHOULD DEFAULT occur in the performance or dischuge of any obligation in this instrument or secured by <br />this instrument, or should the parties named as Borrower die or 6e declued an incompetent, or should any one of the putiea <br />named as Borrower be declued a bankrupt, or an insolvent or make an assignment Eor the benefit of creditors, the Govern- <br />ment, at its option, with or without notice, may: (a) dedue the entire amount unpaid under the nou and any indebtedna: <br />to the Government hereby xcured 'unmediately due and payable, (b) far the account of Harrower incur and piy reasonable <br />expenses for repau or maintenance of and take possession of, operate or rent the property, (cj upon appUcation by it and <br />production of this instrument, without other evidence and without notice of hearing of acidd applicat%on, have a receiver <br />appointed for the property, with the usual powers of receivers in like caxs, (d) foredox this instrument as provided herein <br />or by law, and (e) enforce any and all other eights and remedies provided herein or by prexnt or future law. <br />(18) The proceeds of foreclosure sale shall be applied in the following order to the payment of: (a) costs and expenxs <br />incident to enforcing or complying with the provisions hereof, (b) any prior liens requued by Iaw or a comppetent court to 6e <br />so paid, (e) the debt evidenced by the note and all indebtedness to the Government xcured hereby, (d) inferior liens of <br />record required by Iaw or a competent court co be so paid, (e) at the Government's option, any other indebtedness of Bor• <br />rower owing to or insured by the Government, and (E) any balance to Borrower. At foreclosure or other sale of all or any <br />pan of the property, the Government and its agents may bid and purchax as a stranger and may pay the Government's shoe <br />of the purchax price by crediting such amount on any debts of Borrows owing to or insured by the Government, in the <br />eider prescribed above. <br />(14) Borrower agrees that the Govermnent will not 6e bound by any prcxnt or future State law, (aj providing for <br />valuation, appraisal, homeaead or exemption of the property, (b) prohibiting maintenance of an utian for a deficiency <br />judgment or limiting the amount thereof or the time wuhm which such cation must be brought, (e) rescribing any other <br />statute of -imitationa, (d) allowing any rght of redemption or poaxuion Following any fouclosurc sale, or (e) limiting the <br />conditions which the Government may 6y regulation impox, including the interest rau it may charge, as a condition of <br />approving a transfer of the property to x nsw Borrower. Bortower expressly waives the benefit of any such State lawt. <br /> <br /> <br /> <br />