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<br /> � ! f ) '1'hat Sn the evenC aziY awarUs ure made to 4he Mortgagors or the !r successcrs : n inLer^sl fcr !aklug or tl[vnnpin(c �
<br /> by Che exercl5e oI emSnent dnmlln the .51�u1e or �tny V�rt o: the mortF,�iSed pre�^Sses or ii,l �'i ement Uiereln , Che saicl '
<br /> �: � awaz•d� are hereby assigned Lo [he Mor [gagee ; the Mort�agee 1 :: he.reby +auLhorirad [o al � �_ L , recelve , �nd recelpt i
<br /> Cheretor �.�d co apply the sume 1n p�yncnc of any lndebte;Lress , i�acuretl or wimaturea , ccu� eA b:; thls ^�orcg2�;e . �
<br /> ( 7 ) Tliac Sn che evenc MortgaEors detault 1.n tne payment. of said principal sum , cr uf any trscallmene thereoS , or I ��,�
<br /> . oi any interest thereen , u6 the tlm? wh?n Lhe same shall be due , or �n1th respect Co uny covennnC nr cuntlltlon here-
<br /> � ot , then , at the opcion of Morcv,ap,ee , the entlre IndebteAness secured l�erebY shall torch�vlr,h Oecome due aud p�iynple , �.
<br /> st�all besr Snteres: n[ the r�te ot ten pere^nC Der nnnum , and the Morcgagee may lmmedlxtely toreclose chSs niort�;age
<br /> or pursue any other av¢lluble le�al remedy . �. �
<br /> ( 81 That ln the event. action is brouEhC to foreclose this mortgage , Lhe Mol�tgngee shall Oe entitled to Imniediate �
<br /> possesslon ot the mortgaged premises , andthe r,ourt may appolnt u receiver to cake possesslon of ,aid premises , w: th � .
<br /> the usual por+ers ot recelvers In llke cases . �
<br /> � ( p ) That failure or delay of Mortg�gee co exercise any of ics rlghcs or Drlvlleges sha11 noc Ge construed as a ��
<br /> walver Lhereof ; that any act of Hortgagee walvinP, any sper. ific AeSault oi I1ortgagors shall noc Ue construed as a .
<br /> waiver ot any tuture tletaults : that Sn case ut default ln the paynent of any �morclzatlon installments or intere^,t , �
<br /> or ! n case �t psymenc by Mortgagee oP any 11en „Jud,e,nenc , cax , lnsurauce , cost or expense , or rencs , tees or charRes ,
<br /> seSd Mortgagee shall have tl�e prlvllege , wlthout declaring the whole lndebtedness due and peyab?e , to Inreclose on . .
<br /> account of such speclllc default for such sums �s are ln default end sucti forzclosure proceedings may be had an� .
<br /> che land Cescrlbed he�eln may t�e so1G , s�bJect co Lhe unpsld Sndebtedness hereby secureQ , and thls mortgage shall �
<br /> r,ontlnue as a 11en for any unpsld ba!ance .
<br /> ` I �iD) 'that the MortHagee nay extentl and de:er the macur ] ty of and renew snd reamortlze aald Indebtedness , release
<br /> . rem liabillty any party liable thereon , and r? ?ease from the llen ?iereot portlons ot the property covered hereby ,
<br /> ..,�; � wSthout aftecting the prlorlty hereof or the llability of Mortg¢gors or any ocher party tor the payment of sald
<br /> lndebtedness , a11 such extenslons , aeferments , rer�ewr�ls , and res:narclzatlons to be secured hereby .
<br /> ( li ) Trensfer of Securlty . IL is agreed between che parties herzto , cheir helrs , legal representatives and assSgns ,
<br /> � chac che SnCregricy and responsiDl ? Sty of th� Morcgagors constltuces & parc eI che consideraclon for the note secured j
<br /> hereby , and thxt ln the event che Mertga6ors s?uill sell , t.^rnster , cr convey the proPerty descrlDed hereln , the
<br /> � Hortgagoe nay at its optSon declare che entlre ± r.^ehcedness lmmed?ately due and payable and muy proceed Sn Che en-
<br /> , � forcenen[ o; lts rights 2s on any other detault ±n Che terms of [he note and nortgage . � .
<br /> ( 12 ) Asslgnment of Proceeds et Mineral Lease . Mnr[gagors hereby transfer , sec over , nnd convey to Mortgagee all
<br /> .. � r?ncs , royulCles , bonuses , anC de2ay Toneys Chae nay trom time te tlr..e beco^�e due and payaDle under any oll , gas ,
<br /> or o[her ninera2 lease oT cnY kind no�r+ erisc ;ng c: chat e;sy liereaCter cc^�e lnto er.lscence , coverSng the above land
<br /> ` � or a� part thereof . All such sums ;o received Dy M^rc�agee shall be sppl! ed to che lndehtetlness secured hereDy ; or ,
<br /> � � �a1d Mortgsgee may at its optlon turn cver and dellver to the Hertgagors or their successors in Snteresc , aqy or all
<br /> �. � of such sums wlthout preJudlce Cu any of �^ort�;a�ee � s rlghts to !ake and recain future sums , a�d ivlthout pre� udlce �
<br /> .� � to any oS . its .other rlghts under U� Ss r.ortga3e . The u°r,ster snd conv=yance hereunder Lo Hortgagee of sald rencs , I .�
<br /> royalLles �-bDnuses , a^.d delay r�oneys shal ! Ue construed to Ge : Provlsion for che payment or reduction ot the mort-
<br /> �. I gage � debt �>su�,lecttc Lhe P:urtga�=_e � s cpelon 3s here ?nbefore Vrovided , ir.dependenc of the mortgage llen on sald real
<br /> estate Upon Dayrient in Iull of che nnrtc;ag^ tlebt and che release o? thls moitgage of record , thls conveyance shall I �- i�
<br /> becom� StioDerative flnd of � ne further Icrce and e1SeCt . I
<br /> ' ;� I ,��(�'�Yd�� an� 'yk:as,es heresn , ir.cludinq chz nclnowledg^.eni hereof , sEa ! L be construed as in the singular or � [urat � .� .
<br /> u � �rxr.6ers ard a 'sP,^.d�cu ? ine , Je+tinine , o* r.zutr po:�er , uccordir.�+ to Lhe centext . j � _
<br /> � � p �� � ; •. Petersen Farms , Inc . , a
<br /> A ` . ♦ ` j�.� :� l �� j,C � i
<br /> _ . �, - � �EaL ) NPhrauk3 Corporation � sEaL ) I
<br /> � � . c . . . . .. .�. - _ �--- � (`��sil.11.As-µ' �I .
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<br /> r '� :;ATTF.ST • .•.���f�-��iia � � ; ;E;L ) Bv�e'�"� ( SP.AL ) y � �.
<br /> i �� � 3 rfarga et Petersen , Secretary Don Petereen , Preaident i
<br /> "t � , � � seaL1 ( s�nLl !
<br /> ; ; '� , . , . . . . . , . , . � � "� ( SEAL1 . . ( SFAL) t .i,.. .. 1
<br /> XSF.ALY
<br /> .:. ,.....,.,., _., �. .
<br /> STATE OF N� sras �a I
<br /> ; ' ) ss .
<br /> COU'tTY OF ��d // )
<br /> �
<br /> '� ' � On this 3r� day of ���_�.,)i ' , A . D . , 19�, before me , a tlotary Public in and fe�
<br /> '. seid County and 5tate , petsonally appenred Don Petersen , to me personall,�
<br /> ` ` knorm to be the identical person Who executed the foregoing instrueient , who being by me
<br /> � duly svorn did scy that he is president of said corporation ; that : • . i1
<br /> ' instrtu�ent was siQned nnd scaled in behalf of said cornorztion , znd ecknowle�l�cd ssi3
<br /> instrument to be the free and voluntary act and deed of s�iid corporation by it volun-
<br /> tarily executed .
<br /> �ONALD K, WApEII �� � /I L��
<br /> �.� , � �enmei flotery•$�ets o! Nebr.
<br /> MY Commisslor� Ex dAd �0� . `�� d l /�
<br /> My commission exp�es I1• i,���ch // /� 78 ( Type or priat nwc under siRiiature )
<br /> llotery ?asblic in �nl !'vr sai3 �
<br /> iCounty and State �` !;
<br /> tRy co�tisaiun �,cpires _
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