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application with the United States or under any other instrument <br /> in writing providing for payments to the United States or the <br /> Association or under any of these by-laws or the Articles of <br /> Incorporation now existing or as the same may hereafter be amended, <br /> each such subscription for stock to the Association, contract or <br /> water right application or other instrument in writing shall <br /> operate and be considered and be construed as a real estate <br /> mortgage. <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 with the <br /> United States or in any other instrument in writing whether such <br /> subscription for stock to the Association, contract, water right <br /> application, or other instrument in writing has been made in the <br /> past or shall hereafter be made, may be considered and construed <br /> as a mortgage in favor of the Association and/or the United States <br /> and foreclosure proceedings may be instituted in the name of either <br /> without reference to whether the particular instrument upon which <br /> such proceedings are instituted names the party instituting the <br /> foreclosure proceedings or not. <br /> Section 4. Institution of suit to foreclose. <br /> The Board of Directors shall institute in the corporate name <br /> of the Association any and or all lawsuits necessary to enforce <br /> any of the terms of these certain contracts between the United <br /> States and the Association or of any subscription for stock to the <br /> Association or any contract or water right application with the <br /> 12 <br /> 66 <br />