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<br /> ( 6 ) That in the event any award are made to the Mor gagor or tteir ".ur or ^ me e. for kt w; or damaging l
<br /> by the exercise of eminent domain the whole or any part of the mortgaged premises orrn any 5 ent therein .ein . th _ cald `
<br /> awards ere hereby assigned to . the Mortgagee ; the Mortgagee 1e hereby authorized to collect , receive , and receipt 1 ('
<br /> { therefor and to apply the same In payment of any indebtedness , matured or ruanatu-ed , secured by this mortgage . , I..
<br /> _' .
<br /> ( 7 ) That In the event Mortgagors default in the payment of said principal sum , or of any Installment [.hereof , or
<br /> ry4e, , e ! , : -. e of any interestthereon ; at the time when the same shall be due , or with respect to any covenant or eondltIon here - is
<br />,yf of , then , cit the option of . Mortgagee : the entire indebtedness secured hereby shall forthwith become due an :( payable ,
<br /> •' shall bear Interest at . the rate or ten percent per annum , and the Mortgagee may Immediately foreclose this mortgage t
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<br /> �' 11 . or pursue any other a dable legal- remedy . f, "
<br /> +•' a ( a ) That In the event action is brought to foreclosethis mortgage , the Mortgagee shall be entitled to Immediate
<br /> posSeSSlnn of the mortgaged premises ; audthe court may appoint a receiver to take possession of said premises , with tI
<br /> 41. the usual powers of receivers 1n like cases .
<br /> 11 ( 9 ) That failure or delay of Mortgagee to exercise any of its rights or privileges shall not be construed az a
<br /> r waiver thereof , that any act . of Mortgagee waiving any specific default of Mortgagors shall not be construed as a
<br /> C� .s waiver of any future defaults : that in case of default do the payment of zany amortization installments . or Intereet
<br /> rr ., or In •case of payment by mortgagee of any lien , " ,judgment , tax , insurance , cost or expense , or rent .. , fees or charge
<br /> said Mortgagee shall have the privilege , without declaring the whole indebtedness due and payable , to foreclose on e
<br /> account of such specific default for such sums as are Sr. default and such foreclosure proceedings may be had and
<br />�F thelanddescribed herein may be sold. , subject to the unpaid indebtedness hereby secured , and this mortgage shall S
<br /> {: continue as a lien for any :•;npsld balance .
<br />' ' i+ ( 10 ) mat the Mortgagee may extend and defer the maturity of and renew and reamorclzo said indebtedness , reien e t
<br /> t from liability any party liable thereon , and release from the lien hereof portions of the property covered hereby , i 1
<br /> 0 without affecting . the priority hereof or the liability of Hortgagors or any other party for the payment cf se d g
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<br /> indebtedness , all such extensions , deferments , renewals , and rewnortizatjons to be secured hereby . -
<br /> _ ( 1i ) Transfer of Security . It Is agreed between the parties hereto , their heirs , legal ir• epre. sentati es and assign 1 ..
<br /> that the integrity and responsibility of the Mortgagors constitutes part of the consideration for the note secured
<br /> kU hereby , and that in the event the Mortgagors shall sell , transfer , er convey the property described herein , the 1
<br /> Mortgagee may at Its option declare the entire Indebtedness im,^.eelately due and payable and may proceed in the en- ) y
<br /> x forcemeat of its rights as cn any other default in the teras of the note and mortgage . t
<br /> Ps ( 1 2 ) Assignment of Proceeds Of mineral Lease . Mortgagors hereby transfer , set over , and convey to Mortgagee all
<br /> rents , royalties , bonuses , and delay monefs that may from tame to time Deccme due ar, d payable under any oil , gas , 'e-
<br /> W Vor other mineral lease o : any kind now existing cr the: may hereafter Come into existence , covering the above land
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<br /> or any part thereof . All such sums so received by Mortgagee ' all be applied to the Indebtedness secured hereby ; or ii (I
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<br /> said mortgagee may at Its option turn ever and deliver to the• Mortgagors or their successors in interest , any or all ;:.
<br /> of such sums without prejudice to any of Mortgagee ' s rights to take and retain future Burs , ar. G without prejudice
<br /> K to any of Its other rights under this mortgage . The transfer and conveyance hereunder to Mortgagee of said rents ,{, royalties , bonuses , and delay moneys shall be construed to De a provision forthe payment or reduction of . the mors
<br /> rITgage debt , subject o the Mortgagee ' s option as hereinbefore provided , Independent of the mortgage lien on said real t
<br /> af ti estate . Upon payment In full cf the mortgage debt and the release of this mortgage of record , this conveyance shall 1
<br /> become inoperative and of no further force and effect .
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<br /> ( Words an;, phrases herein , including the acknowledgment hereof , shall be construed a :; in the singular or ,' lura '
<br /> 40
<br /> numbers and as ' '�v.sculins , feminine , cr neuter gender ; according t he context . ; -
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<br /> # SEAL ) ( / el . E�-t• � I � -!' � / 1 . .. a h .. v - L ) v
<br /> og TG e u van .
<br /> : ( SEAL ) ' .,r:J4F2 ();4 r i u. A
<br /> ( SEAL ))
<br /> Berniece E . Sullivan 1::
<br /> r i SEAL ) ( SEAL ) 1
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<br /> t ( SEAL ) ; SEAL )
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<br /> STATE Of it
<br /> ��tli f ,35 /ra DONALO K. WADZLL #
<br /> 1a IOUNTY GP 114 // �y lie 1978 -
<br /> 3r this / 9 , h - va/+ yaryD . , 1972‘ , berY eta P1l d
<br /> le In for sale County and
<br /> IState , personally appeared Roger Michael Sullivan ( also known_ as Roger Sul 1 finals ) and ( !„
<br /> B ' r , . . .. - SI i ' S . . • • . • - • • t t • ! f -
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<br /> to me known to be the persons. named in end w?rt executed the foregoing instrument , ardacknowiedged that they execute 3
<br /> I the same as their voluntary act and deed . r
<br /> My commission expires ely 1/, /i7 � .r 1� �/ /t �. C- i
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<br /> ( Type or pr int name under Signature
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