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<br /> a i' ( 6 ) That in the event any awards are made to the rrtlagor^ or their successor 1n Liter t roe tnkta or dmevi ig
<br /> L,• _. � by the exerc tae of eminent denial ❑ the whole or any pat's of the mortgartd Tremine er any + . event thereto , the said it
<br /> awards are hereby aasigned to the Mortgagee ; . the Mortgagee Is hereby authorized to collect , receive , and receipt
<br />'(';'•; - Iatherefor and to app1Y the name In payment or any indebtedness , natured or uumatured , secured by Oils mortgage , ,
<br /> ( q ) That In the event Mortgagors dafault In the payment of seta principal sum , or of any Installment thereof , or I,
<br /> of any interest thereon , at the time when the same shall be due , or with respect to any covenant or condi- tion tlere-
<br /> of . then , at the option of Mortgagee , - Lhe entire indebtedness secured hereby shall forthwith become due and payable ,, fi
<br /> rhWW1 - . shall bear interest at the rate of ton percent per annum , and the Mortgagee may bemediately foreclose this mortgage j
<br /> or' pursue , any other available legal remedy .
<br /> if
<br /> 7 . : ( 9 ) That - Inehe event .aoclnn is brought to foreclose thin mortgage , the Mortgagee shall be entitled to immediate . ,
<br /> w� - " ' possession of the mortgaged premises , nudthe court may appoint a receiver to take possession of said premises , with
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<br /> r, I . the usual. - powers -of receivers to like cases . .
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<br /> l '' ) ( fi ) That failure or dela`! of Mortgagee tr, exercise tui'/ ldefault of Mortgagors shrights or privileges gnll not be constrred as a
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<br /> waiver thereof : that any act of Mortgagee waiving any specific !
<br /> waiver of any future defaults ; that In case of default In the payment of any amortization installments or Interest ,
<br /> JEl f 11 _ or in case of payment by Mortgagee or any lien , judgment . tax , Insuralee , cost or expense , or rents , fees or charges , �;..
<br /> 4.1 Said Mortgagee shall have the privilege , without declaring the whole Indebtedness due and payable , to foreclose on)l ,
<br /> account of such specific default for such sums as urn to default and sun foreclosure
<br /> osre proceedings may be had and
<br /> j �' the and described herein may be sold , subject to the unpaid Indebtedness herebysecured , and this mortgage shall U
<br /> 511 continue as a lien for tiny unpaid balance .
<br /> 19I, 1 ( + p ) That the Mortgagee may extend and defer the maturity of and renew and reamortlze said Indebtedness , release
<br /> c, from liability any party liable thereon , and release from the lien hereof portions of the property covered hereby ,
<br /> . I. without affecting the priority hereof or the liability of Mortgagors or any other party forthe payment of said ii
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<br /> Indebtedness , all such extensions , deferments , renewals , and reeumrttzattons 10 be secured hereby .
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<br /> ( I. 1 ) Transfer of Security . It Is agreed between the pante : hereto , their heirs , legal representatives and assigns , . 41
<br /> is li that the lnt'egrity and responsibility or the Mortgagors constitutor. a port of the consideration for the note secured y
<br /> + Mortgagors shall sell , transfer . orconvey the property described herein , the
<br /> .1; _ hereby , and that in the event the Mortg, gy proceed In the en -
<br /> I Mortgagee may at tts option declare the entire Indebtedness lmmediatel due and payable and mn
<br /> ' - p forcemeat of Its rights as on any other defeult In the terms of the note and mortgage .
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<br /> { 12 ) Assignment of Proceeds of 111neral Lease . 11o:' tgagor5 hereby tr- sa.. fer , set. over , :noel convey to Mort:gageu all
<br /> la - fi rents , royalties , bonuses , and delay moneys that cagy from time to ti e become due and payable under any oil , gas ,
<br /> Y or other mineral lease of any kind now existing or that may hereafter come Into existence , covering the above land
<br /> i. or any part thereof , All such suns co received by mortgagee shall be applied to the Indebtedness secured hereby ; or -I
<br /> l,— ;, said Mortgagee may at its option turn over and deliver to the Mortgagors or their successors in Interest , any or all
<br /> h or Such ,o SUMS without prejudice to any or Morntgagee ' s rights to take and retain future sums , and without prejudiceC.
<br /> 4 to anyof Its other rights under this ltga- fie . The transfer and conveyance hereunder to Mortgagee of said rents , ..
<br /> d royalties , bonuses , and delay moneys shall be construed to be a provision for the payment or reduction of the mort-
<br /> It '` gage debt , subject to the Mortgagees option as hereinbefore provided , Independent of the mortgage lien on said real
<br /> f? estate . Upon payment In full of the mortgage debt and the release of this mortgage of record , this conveyance shall
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<br /> become inoperative and of no further force and effect . ,f
<br /> { A ( Fords and Phrases herein , inrtviinp he acknowtetement hereof , shalt be construed as in the singular or Plural
<br /> ambers and as orienting , feminine , or rcutu penile"- , according to the r text .
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<br /> %��jr ( SEAL ) (� � i-� �� �/� btu r- ( DEAL )
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<br /> Rex D . Hoffman
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<br /> �� L Yvonne D offman
<br /> Eunice . H . e • an
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<br /> ary � . Hoffman
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<br /> STATE Or _ rd�N19f.
<br /> t . NAY/tl
<br /> G - �. COUNTY OF `/ a / Wirth 11. 1
<br /> ` i' On this •-••1 ‘ /Cay oof Felrydry , A . p . , 192E7 before me . a notary Pablic In and for sold County and
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<br /> ` state , personally appear° Rex D . Hoffman and Eunice M . Hoffman , husband and wife ; Robert F .
<br /> f: ' ' Hoffman and Mary K . Hoffman , husband and wife • and Richard C . Hoffman and Yvonne
<br /> 7 is D . Hoffman , husband and wife ,
<br /> r to me known to be the persons named is Ir. ; :YIP: executed the forezotng instrment , and acknowledged that they executed
<br /> I; the same an their voluntary act and 'fend . /"9�
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<br /> ft rye commission expires
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<br /> ( ype or print namesignature
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<br /> ✓ ,. Notary Public In and for said county and state
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