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<br />...nd in its name to enforce the collection of the sarne against <br />land, Vlater rights, and/or a;.)purtenances described in any such" <br />subscription for stock to the Association or in any such con- <br />tract or other instrument in v~iting, given for the purpose of crea- <br />ting a lien to secure payr.lent thereof, in the manner provided in <br />the Articles of Incorporation, in these by-laws and/or in any such <br />contract or other instr~~e.nt in writing. <br />Section 2. Nature of lien. <br />FClr the purpose of mutually protectin[: the Atisociation, <br />stockholders, water right applicants, contract holders, water <br />users or land own~rs and insuring the prompt collection of any <br />and all assessments, charges or other payments to be paid or <br />made by such parties or any of them under the terms of any sub- <br />scription for stock to the AS30ciation or under any. contract <br />or water right application with the United states ~r under <br />any other instrument in writing providing for payments to <br />the United States or the Association. or under any of these <br />by-laws or the Articles of Incorpor~tion now existing or as <br />the same may hereafter be amended, each such subscription for <br />stock to the Association, contract or water right application <br />or other instrument in \~itinp, shall operate and be considered <br />and be construed as a real estate mortg3ge. <br />Section 3. Parties authorized to foreclose. <br />The lien provided for in any subscription for stock to the <br />Association or any contract or water right application \~th <br />the United states or in any other instrunlcnt in writing whether <br />such sub::;cription for stock to the Association, contract, <br />water right application, or other instrument in v~iting has <br />been made in the past or aha.> 1 hereafter be made, may be con- <br />sidered a.nd construed as a mortgage in favor of tre Associat:ion <br />and/or the United States and foreclosure proceedings mG.:!' be <br />instituted in the n8J:le of either witJ;out reference to whether <br /> <br /> <br />the pc.rticular instrument upon which such proce~dings are in- <br /> <br /> <br />stituted na~es the party instituting the foreclosure proceedinGs <br /> <br />-9- <br />