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<br /> . ',; ( 8 ) That in che event any arrurGs are made ta the Mortgagors ar their successors in Snterest for taking or demaging �: . � � . .
<br /> � - by the exerclse oi eminenc domain the whole or any D�'t of che mortgageG premises or aqy easement cherein , the sald ; � .
<br /> �i awards are hereby assigned to the Mortgagee ; the Mortgngee Ls hereby authorized to collect , receive , and recelDt �� � �
<br /> ! therefor anQ to apply the same in payment of any Sndebtedness , macurea or Unmacured , secured by thls martgage . �! �
<br /> ' }i
<br /> �1 ( 7)� �That Sn the event Morcgagors default in the payment of sald princSpal sum , or of any lnstallment thereof , or i � �
<br /> �� of aqy lnterest theraon , at the time when the seme shail be due , or with respect to any covenant ar condltlon here- �3 �
<br /> �� � oL , then , at the oDtlon of Mortgagee , the entlre SntleDteQness secured hereby shall fOrthwlth become due and p�yable ,
<br />� � shall bear Snterest at the �default rate described Sn saitl note , and the Mort�agee may irtuned2ate�y foreclose thls (i
<br /> � mortgage Ot D�1i'3i36 aqy other 8va118b16 legal remeqy . �
<br /> I�
<br /> ' } ( 81 That Sn the event action is brought to foreclose thls mortgage , the Mortgagee shall be entltled to SmmeQlate {i
<br /> � 4 possesslon of the mortgageG premises , and the court may appolnt a receiver to take possesslon o2 said premises , wlth �) ��
<br /> �� i the usual powers ot receivers Sn like cases _
<br /> , ��
<br /> .4 �
<br /> � ( 9 ) That fallure or delay of nortgagee to exercise any o [ Sts righcs or prlvileges shall not oe construed as a � .
<br /> �€ w81Ver thereof : th8t any 8Ct Of MOrtgBgee walving any speClflC defBUlt oi MottgBgOrs shall nOt be Con3trued flS a . . .
<br /> �� ;i waiver of any future defaults ; that in case of de2ault Ln the paYment of any amortl2atlon installments or interest , �; �� .
<br />; tj or Sn case of BaYment Dy Mortgagee of any llen , � udgment , tax , Insurance , cost or expense , or rents , fees or charges, ; � �
<br /> � +I sald Mortgagee shall have che prlvllege , without declnring the whole lndebtedness due and payaDle , to foreciose on t . .
<br /> �4 account of auch specltic defaulc tor such sums as are in default and such foreclosure Droceedings may be had anG �'
<br /> � the land GescrSbed hereln may be sold , subJect to Uhe unFald lndebtedness hereby securetl , and this mortgage shall �
<br /> 1 cOntlnUe IIS a llen fOr any unpald Aalance .
<br /> 3f I
<br /> i ' ( 10) That the Mortgagee may extend antl deter the maturlty oI and renew antl reamortize said Sndebtetlness , release � � .
<br />� p � from 2fabfllty any party 11able thereon , and re2ease from che .iten hereof porttons of Che property covered heretry, � � . �
<br />� �� wlthout affecting Che prlorlty hereof or the 11aDlllty of Mortgagors or any other party for the payment of sald ,i , �
<br /> �j indebtedness , all such extenslons , defe:ments , renewals , and reamertSzations to be secured hereby . ;� � � .
<br /> �; ( 11 ) Transfer of Security . It Ss a�eed Detween che parties �hereto . their rielrs , 1ega1 representatives and asslgns ,
<br /> 3� that the Sntegrlty and responslb111ty of the Mortgagors conaLltutes a pn:t oi the considaration tor the note secured � �
<br /> , � hereby , and Chat Sn Lhe evenc the Mortgagors sh�iil sell , transfer , or convey the Droperty descrlbed herein , the
<br /> ;; Mortgagee may at Sts optlon declare the entlre indebtedness Smmedlately due and payable snd may proceea 1❑ the en- � � . �
<br /> !y iorcement af its rlghts as on any other default Sa che cerms of the note and mortgage . � � -
<br /> ;t
<br />� ( 12 ) Assignment of Proceeds of Mlneral Lease . Mortg3gors hereby Lransfer , set over , and convey to Mortgagee all
<br /> �j rents , royalties , bonuses , and delay moneys thr.t m-sy [rom time Co LSme become due and payable under any oll , gas , � � �
<br /> i or other mineral lease of any klnd now exlscing or thsr, may hereafter come lnto exiscence , covering the aDove land ; ,
<br /> or aqy part thereof . A11 such sums . so rec? lved by Mortgagee shall Oe applled to the Sndebtedness secured hereby : or . . .
<br /> �; sald Mortgagee may at its optlon Lurn over snd Qellver to the Mortgagors or their successors Sn lnterest , aqyor all � � .
<br /> � i of such sums without pre� udlce to any of Mortgagee � s i• Sghts to taka and retaln future sums , and without pre�udlce � . . .
<br />� fi to any of lts other rlEhts under thls mortgage . The tr�insfer ruid conveyance hereunder to Mortgagee of sald rents , -t �
<br /> t �� royaltles , bonuses , and delsy moneys shall be r, onstrued to be a Frovlslon for the payment or reductlon of the mort- ;i �
<br /> j : gage debt , sub,7ect Lo the Mortgagee � s optlon as herelnDe [ore provided , Sndependent ot the mortgage llen on sa1G real -
<br /> 11 estate . Upon payment in full of the mortgage debt and the reLease of Ch1s mortgage of record , thi .^> conveyance shall ,� �
<br /> ' , become inoperative and of no further force and effect . ;� ; � � �
<br /> `-�j ( l�ords and yhrases herein , incGw3ing the acknowZo.dqment hereot , sha11 be corzstrued as in the singular or 91ura1 � , �
<br /> ii nwnbers attd as mascuZine , femintinr. , o> neuter gerrde + , accordirzg to the context . J � �
<br />� �'y � � � � � � ( ',
<br /> { ' ( SEAL ) •!"iOGG[/� � [�F�il ( SEALI t� � � .
<br /> ;� f� � �p RobeQ . Engel
<br />� � ' ( SEAL ) �C1Lf�-a�_� �C.J. f� /l.-.w�.P � ( SEAL) '
<br />' �� �j�q� �� �J De�l/oris B En el �1 �
<br /> t�� ( SEAL ) �-f�!/f.r�O dY �i�'d�'PX/ g ( SEAL ) f' ,
<br />! rp Chris A . Engel {�
<br /> i �� ( SEAL ) ( SEAL) � . � .
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<br /> �r STATE OF � " t'-6/�[��IK -lf _ � , .. . . �
<br /> t�. ' / „ i �
<br />. !i COUNTY OF f�` c�- �� . . . i1 � . .
<br /> �! On thls �4ay of �yy��r/� , A . D . . 19 � , befo^e me , a Nocary Pub11c Sn and for sald County and � � �
<br />. tfl . �i � � . .
<br /> }} State , personally appeared Rob r F . Rng 7 and D o i _ .ngQl hncband anc'_ ai fe - and � - -
<br /> �� GhTis A. En ¢nl � ainglP � � �. . . � . .
<br /> �
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<br /> �� to me known Lobe the Persons named 1.n and who execrted th? foregoing Snstrument , and acknow�le�ged that they executed �
<br /> the seme as thei �oCY jta��atcE`antl deed .
<br /> t� IV
<br /> ; • GENERAL NOTA � - p} r. � :�� �� � L' , _��o G�� . . . ..
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<br /> ?i � �n� � ' // i"� l�ic/ i?- l�i Z_ c'�
<br /> j� MARCH8, 797g ( Type or prini/�ame unde� signaturel : j �
<br /> 35
<br /> �F Notary ?ubllc in and for said County and State . .
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