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<br /> �j ( 8 ) That Sn the event aqy awards are made to the Mortgagors oc thelr successors in interest 2or Laking or demaging ii �
<br /> G4 by the exercise of eminent domaln the whole or ex�y part ot the mortgaged Dremises ar aqy easement therein , the sa1G .
<br /> awarCs are hereby asslgned Lo the Mot�tgagee ; the Mortgagee Ss hereby authori2ed to collect , recelve , anA receiDt
<br /> �� tneretor and to apply the same Sn payment of aqy SnQebtedness , matureA or unmatared , secureQ by this mortgagg , �' �
<br /> �� i ( 7) That Sn the event� Mortgagors Aefault in the Dayment of said principal sum , or of any Snstallment thereof , or b' --
<br /> � � oL a�yy Saterest thereon , � at the tlme when the same shall be due , ar with respect �to aqy covenant or condition Lere (� "�
<br /> r � � oS, then , at the option of Mortgagee , the entire SndebteGness secureG hereby shall forthwith Decome due a.nA DaYable - �� �
<br /> " j � � � � shall � bear Snterest at � the Qefault rste descrlbeG 1n said note , and the Mort�gee mqy immediately tox�eclose thls aj � �
<br /> i mortgage or yursue � aqy other available legal remeqy . , :
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<br /> � �� � ( 8) That in the event action Ss brought to foreclose thls mortgage , the Nortgagee shall be entitled to SmmeQlaCe . � ' �
<br /> , � Dossession of_ .tha mortgagea premises , andthe court may aDPoint a receiver to take possession of said premises , wlth �� . .
<br /> _� _ the usual powers oI recelvers 1n like cases . r �
<br /> ; � �� � ( 9 ) � That failure or delay of Mortgagee to exercise any of its rights or prlvlleges ' shail not �e construed as a -
<br /> i walver thereof ; that any act of Hortgagee walving any speclIlc Qefault of Mortgagors shall not be construed as a ±i ` �.�;;
<br /> waiver of any future defaults ; that 1n cese of� Qetault in the pa}iment ot any amortlzation tnstallments or Snterest
<br /> ' � �j or in case of payment by Mortgagee of aqy lien „7udgment , tax, Snsurance , cost or expense , or rents , Sees or charges �' �
<br /> � i� said Mortgagae shall have tho privilege , wlthout declaring the whole indeDteAness due and payable , to foreclose on i ;, '
<br /> �� account of such specific Aeiault for such sums as are Sn Qefault and such foreclosure proceedings may De had and
<br /> Lhe land QescriDed herein may be sold , sub� ect to Lhe unpald indebtedness hereby secureA , and thls mortgage shall +: �=
<br /> � � continue as a lien for any unpaSd balance . % '
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<br /> �.� j ( 10) That the Mortgagee may extenG and tlefer the maturity ot and renew and reamortize sa1G 1nCeDtedness , release �, � �
<br /> �� . � from iiabillty ax�y party llable thereon , and release from the lien hereot portions of the property cavered hereby ,
<br /> k �� without affecting the priorlty hereof or the liabilicy of MortgaQors or any other Dgrty for the payment of sa1C ;j
<br /> j i+ lndebteQness , all such extensions , deferments , renewals , and reamortizations to be secured hereDy. ��
<br /> (( f:
<br /> � ig. ( li ) Transfer of Securlcy . Ic is agreeA becween the partles �hereto , cheir heirs , legal representatives anU assi�s ��
<br /> i that the integrity and responsibility ot the Mortgagors constitutes a Dart of the consSderatlon for the note secured
<br /> � �j hereDy , and that Sn the event the Mortgagors shall sell , transfer . or convey the yroperty QescrLbed hereln , the ��
<br /> Mortgagee may at its option declare Lhe entire intlebteQness lmmedlately due and payable and may proceed ln the � en- h + �,-
<br /> � torcement of its rights as on ac�y other default ln the terms ot the note and mortgsge . �� "
<br /> � �� �� ( 12) AssSgnment of Proceeds of Mineral Lease . Mortgagors hereby transfer , set over , and convey to Hortgagee all !E � ,�.�
<br /> ,, � ;� rents , royalties , bonuses , and Gelay moneys that may 2rom tlme to time become due and payable under any o11 , gas ( � `"�
<br /> �! or other mineral lease ot any klnd now existing or that may hereafter come Snto existence , covering the above land
<br /> 's,i or aqy parL thereof . All such sums .so received by Martgagee shall be applled to the Sndebtedness secured hereby : or !,
<br /> d ,� said Mortgagee may at Sts optlon turn over and deliver to cne Mortgagors or thelr successors in lnterest , aqy or ali � "
<br /> f �t of such sums wlthout preJudice to any oS Hortgagee �s rights to take and retaln future sums , and without pre�udice !;
<br /> �y �� to any oI its ot2xer rights unQer this mortgage . The transfer and conveyance hereuneer to Mortgagee of said rents ;
<br /> �� royalties , bonuses , anQ delay moneys shall be construeG to be a provlsion for the payment or reductlon o2 the mort �F
<br /> �� gage Qebt , subJect to the Hartgagee � s optlon as hereinbefore DroviGed , independenc of che mortgage lien on sald real �
<br /> € estate . Upon payment Sn full of the mortgage debt and the release of this mortgage oT record , this conveyance shall �:
<br /> Decome Snoperative and of no turther force anG effect . ft �^S�
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<br /> ,� J� (b'ords and yhrases hereirz, inclvding the acknowledgment he+eof, shaZl be construed as in the siregular or qLuraL '( ' t ,y,�;t,�
<br /> f nvabers and as 'masculirze , feminine , or neuter gender, accosding to the context . ) ,� ,
<br /> Meierside Farms � Inc . , � -
<br /> j �i / . _ ( sEaL ) a N�Tiras Cor oration � �L � ;i r
<br /> f � ° � j� � * ��:
<br /> t ATTEST : i^ ` B - ?---- ( SEAL ) �I � 11:
<br /> , �:� �i . ( SEAL ) - :.
<br /> , ` �r +' i �tinnis P . Meier , Secretary Donald eier , President �� , , a�.
<br /> � � � � �.. ( SEAL ) ISEAL) � ' .
<br /> � �E'sEnr.I-�; n r n r�. �' ' i� '
<br /> � ' : � �� � � � ( SEAL ) ( SEAL ) ij
<br /> . . . �_ . i j � =
<br /> _. � , :.,:� . .� , ,� t v. � . � �._ ., . . . . . _—.. .... _.. .. . . . . _ . . . . . _
<br /> t � 0 . � �� � � � � ,
<br /> 3fiA1Ti QF•--. .�—r• %:N.,1.��/CsC/ � :
<br /> � 7/ � FORM 2781 ( REv. 12-72) d a ;
<br /> _ . '.. �. C Ih ' � , ' ��,/1/� // SS . �
<br /> ° � COIINTY �F ----' ". � � W L .
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<br /> � D�/ tr =
<br /> . x, On this �D/Aday of � , A . D . , 19 �, before me , a Notary Publlc in suG for said County and `( �� � �
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<br /> � � State , personal]y aDPeared Donald Meier , to me personally knov+n to be the Stlent2cal person S� . � �� -
<br /> who executed the Zoregoing instrument , who being by me duly sworn Cld say Lhut he is President
<br /> �'
<br /> 111� of said corporation ; that said instrument was si �ed and sealed in behalf of sald corporation', and acknowledged �' � �
<br /> � said instrument to De che free and voluntary act and deeti of said corporatlon by St voluntarlly executed . ,� `
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<br /> Norr�ry publlc in and for saitl rounty and State "
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