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<br />2011013 i �. ��-RECORDED ���;�
<br />20110168� �
<br />for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be
<br />the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be
<br />lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,
<br />with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and reIated
<br />matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a
<br />claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either
<br />event, or if Lender acquires the Property under Section 25 or otherwise, Borrower hereby assigns to Lender (a) Borrower's
<br />rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument,
<br />and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may
<br />use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security
<br />Instrument, whether or not then due.
<br />5. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Borrower shall maintain
<br />the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is
<br />determined pursuant to Section 4 that repair or restoration is not economically feasible, Borrower shall promptly repair the
<br />Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection
<br />with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if
<br />Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single
<br />payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not
<br />sufficient to repair ar restore the Properiy, Borrower is not relieved of Bonower's obligation for the completion of such
<br />repair or restoration.
<br />Borrower will operate the Property in a good and warkmanlike manner and in accordance with a11 Applicable Law
<br />and will pay all fees and charges of any kind in connection therewith. Borrower will use good farming and animal husbandry
<br />practices.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />Lender may inspect the interior of the improvements on the Properiy. Lender shall give Borrower notice at the time of or
<br />prior to such an interior inspection specifying such reasonable cause.
<br />6. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process,
<br />Bonower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave
<br />materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material
<br />information) in connection with the Loan.
<br />7. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If
<br />(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />proceeding that might significantly affect Lender's interest in the Property and/or rights under this SecurityInshument (such
<br />as a proceeding in bankruptcy, probate, for conclemnation or forfeiture, for enforcement of a lien which may attain priority
<br />over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender
<br />may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this
<br />Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the
<br />Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over
<br />this Security Instrument; (b) appearing in court; (c) paying reasonable attorneys' fees to protect its interest in the Property
<br />and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding, (d) perform any
<br />farming operations related to the planting, growing, maintenance, and harvesting of crops located on the Property, and (e)
<br />perform any ranching operations related to any animals located on the Property. Securing the Property includes, but is not
<br />limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from
<br />pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although
<br />Lender may take action under this Section 7, Lender does not have to do so and is not under any duty or obligation to do so.
<br />It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 7. Lender may
<br />perform these or any other actions it deems necessary in Lender's sole discretion to preserve the value ofthe Property, and/or
<br />NEBRASKA--Farmer Mac UNIFORM INSTRUMENT Form 5000.28
<br />�PeirsonPatterson, LLP.-Arlington, Texas 2007-2009
<br />16141402ll [Doc Id 9701 Rev. 02.11.11 ]
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