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<br /> -. ( 8 ) That In the event any awards are made to the Mortgagors or their cacceasera in interest far taking or dwnag ig _ . . - -
<br /> by the exercise of eminent domain the whale or any part of the mortgaged premisea premiseor any easement therein , the : :1d
<br /> 1 t:wai' ds are hereby assigned the Mortgagee : the Mortgagee authorized to r , y [ t , receive and z- crIpt .
<br /> g^.ed to g " e .gee L hereby s : i
<br /> therefor and to apply the .^game in payment of any ladebtedness , matured or uumatured , a enured by this mortgar•; a .
<br /> ( 7 ) That In the event Mortgagors . default In the payme„ t o : said prinelaul su.m , or of rury installment thereof , or pat
<br /> o r any interestthereon . at thetimewhen the same shall bedue , or with respect to any cover: ant or condition here- .
<br /> o f , then , at the option of Mortgagee , theentire indebtedness secured hereby shall frrthwith become due and payable ,
<br /> shall Dear Interest at the rate of ten percent per annum , and the Mortgagee may immediately foreclose this mortgage
<br /> or pursue any other available legal remedy .
<br /> ( 8 ) That in the event . . action 'Is brought to foreclose this mortgage , the Mortgagee shall be entitled to immediate
<br /> possession oftherlortgaged ' premises , and the court may appoint a receiver to take possession of said premises , with `
<br /> the usual powers of .. receivers to like cases .
<br /> ( 9 ) That failure or delay of Mortgagee _ to exercise any of its rights: cr• privileges :hall not be construed an a
<br /> ci waiver thereof ; that any act of mortgagee waiving any apeclflc default of Mortgagors ;hall not be construed as a
<br /> s, . waiver of any future defaults : that In case of default in the payment of any amortization installments or Interest ,
<br /> or In case or payment by Mortgagee or any lien , judgment , tax , Insurance , cost or expense , or rents , fees or charges ,
<br /> said fortrigee shall have the privilege, without declaring the whole indebtedness due and payable , to foreclose on
<br /> account of such specific default for such sums- as are In default and such foreclosure proceedings may be had and
<br /> the land described herein may be sold , subject to the unpaid indebtedness hereby securedand this mortgage shall
<br /> continue as a lien for any unpaid balance . -
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<br /> ( 1G ! That the Mortgagee may extend and defer the maturity of and renew d reamortize said indebtedness , . release
<br /> � y , from liability any party liable thereon , and release from the lien hereof portions of the property covered hereby ,
<br /> w ithout affecting the priority hereof or the liability of Mortgagoro or any other party for the -- paymentof said
<br /> Indebtedness , all such extensions , deferments , renewals , u: ^: reamortiz _tlone to be secured hereby . _
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<br /> ( U ) Transfer of Security , it is agreed between the parties hereto , their heirs , legal representatives and sings , -
<br /> that ehe lneegrity and responsibility cf the Mortgagors constitutes a part of the consideration for the note ' secured
<br /> hereby , and that in the event the Mortpat~ar ., shall sell , transfer , ar convey r, he property described herein , the P .
<br /> Mortgagee may at Its tion declare the entire Indebtedness Immediately sue and payable and may proceed
<br /> ) p Z Y + in the en -
<br /> - forcemeat or its rights as on any other default in the terms lof the note _na mortgage .
<br /> ( 12 ) Assignment of Proceeds
<br /> or Mineral Lease . Mortgagors hereby transfer , set over , and convey to Mortgagee all
<br /> rents , royalties , bonuses , and delay moneys that � may- from time to time become due and payable under any oil , gas ,
<br /> or other mineral lease of any kind now ex ) :ating or may hereafter come into existence , covering the above land
<br /> or any part thereof . All such sums so received mma mortgagee rhall be applied ca che indebtedness secured .hereby ; or !s
<br /> said Mortgagee may at Its option turn over i deliver to the 1 o t a - or or their succe0.,, a in interestany or all 1
<br /> o f such sums without prejudice to any ofMortgagee ' srights to takeand retain future sums , and without, prejudice 1111
<br /> to any of its other rights under this mortgage . The transfer and conveyance hereunder to Mortgagee of said rents ,
<br /> t royalties , bonuses , and delay noneye shall be construed to be a provision for the payment or reduction of the mart -
<br /> gage debt , subject to the Mortgagee ' s option as hereinbefore provided , Independent of the mortgage lien on said real •
<br /> estate . Upon payment In full of the mortgage debt and tnia re / ease of this mortgage of record , this conveyance shall
<br /> become inoperative and of no further forceand effect . .. .
<br /> ( Words and Phrases herein , : nr ? :,";. ir.g tr ` acknowledgment hereof . shnLt he construed as in the singular or plural
<br /> n:anbcr_ and as masculine , feminine , or neuter gender , according to the context . )
<br /> ( SEAL ) I` / �C"-•` --� - ; S£kL ) ..
<br /> G Ruben E . Mier
<br /> ( SEAL ) 1.. /`t fl4 G o .�lh � SEAL ) I
<br /> / / Jdyce A . Meier ( yT ) 1
<br /> ( SEAL ) - ( SEAL ) 1
<br /> ,// ( SEAL ) ( SEAL ) -:: : . ..
<br /> I STATE 0 V v ft Ares Jc cZ MARK J. KEISER 4
<br /> GEN 'eRAL NOTARY — State of hlabr,
<br /> My Commission ExpireE
<br /> COUNTY OF N� January 20, 1979
<br /> i / /1 :
<br /> On this -7hU day of cl GhUut/ A . D . . 1976 , before me , Notary Public _ n and for said Ccunty and I
<br /> 690 /it/ eat/
<br /> ( As-.
<br /> state , personally appeared Ruben E . Meier ( also known as Ruben Meier ) and Joyce A . Meier , If
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<br /> husband an� Jai fp , .
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<br /> . . to me known tc be the , e - zons named In and . " , a executed the foregoing instrument , andacknowledged that they executed I
<br /> aa . r the ' same as their voluntary act and deed ”
<br /> Iry comrls - mon exp - . .. _ �./ 9h u4 , , 2 /12,72. � '�� Acer„..,...,, . .
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<br /> /I/lar1e T /1- els ,atc
<br /> ( Type or prInt name undersignature ) .
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<br /> ( :rotary Public In and for id County and Sate
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