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(U) That in the event any awards are made to the Mortgagors or their successors -in interest for taking or damaging
<br />by the exercise of eminent domain the whole or any part of the mortgaged premises or any easement thereln,.the said
<br />awards are hereby assigned -to the Mortgagee: the Mortgagee is hereby authorized to collect', receive, and receipt
<br />-therefor and to apply the same in payment of any indebtedness, matured or- ur?matured,.secured by this mortgage.
<br />(7) •That in the event Mortgagors default in the payment of said principal sum, or of any installment thereof, or
<br />of any interest thereon, at the time when the same shall be due, or wI th respect to any covenant or- condition here-
<br />of, then,, at the option of Mortgagee, the entire indebtedness secured hereby shall forthwith become due and payable,.
<br />shall bear interest at the rate of ten percent per annum, and the Mortgagee may immediately foreclose this mortgage
<br />or pursue any other available legal remedy.
<br />(p) That in the event action is brought to foreclose this mortgage, the Mortgagee shall be entitled to immediate
<br />possession of the mortgaged premises, and the court may appoint a receiver to take possession of,sald premises, with
<br />the usual powers of receivers in like cases.
<br />(9) That•fallure or delay of Mortgagee to exercise any of its rights or privileges shall not be construed as a
<br />waiver thereof: that any act of Mortgagee waiving any specific default of Mortgagors shall not be construed as a
<br />walver of any future defaults; "that in case of default in the payment of any amortization Installments or interest,
<br />or in case of payment by Mortgagee of any llen,.judgment,tax, insurance, cost or expense, or rents, fees or charges,
<br />said Mortgagee shall have the privilege, without declaring the whole indebtedness due.and payable, to foreclose on -
<br />account of such specific••default for such sums as are in default and such foreclosure proceedings may be Irad and
<br />the land described' here in may be sold, subject to the unpaid indebtedness hereby secured, and this mortgage shall
<br />continue as a lien for'any.unpaid,balance.
<br />(10) That the Mortgagee may extend and defer the maturity of and renew and reamortize said indebtedness, release
<br />from liability any .party liable thereon, and release from the lien hereof portions of the property covered hereby,
<br />without affecting the priority hereof or the liability of Mortgagors or any other party for the payment of said
<br />Indebtedness, all such extensions, deferments, renewals, and reamortizations to be secured hereby.
<br />(11� Transfer of Security. It is agreed between the parties hereto, their heirs, legal representatives and assigns,
<br />that the integrity and responsibility of the Mortgagors constitutes a part of the consideration for the note secured
<br />hereby, and that in the event the t•fortgagors shall sell, transfer, or, convey the property described herein, the
<br />Mortgagee may at its option declare the entire indebtedness immediately' due and payable and may proceed in the en-•
<br />forcemeat of its rights as on any other default in the terms of the note and mortgage.
<br />(12) Assignment of Proceeds of Mineral Lease. Mortgagors hereby transfer, set over, and convey to Mortgagee all
<br />rents, royalties, bonuses, and delay moneys that may from time to time become due and payable under any oil., gas,
<br />or other mineral lease of any kind now existing or that may hereafter come into existence, covering the above land
<br />or any part thereof. All such sums so received by Mortgagee shall be applied to the indebtedness secured hereby; or
<br />said Mortgagee may at its option turn over and deliver to the Mortgagors or their successors in interest, any or all
<br />of such sums without prejudice to any of Mortgageels rights to take and retain future sums, and without prejudice
<br />to any of Its other rights under this mortgage. The transfer and conveyance hereunder to Mortgagee of said rents,
<br />royalties, bonuses,, and delay moneys shall be construed to be a provision for the payment or reduction of the mort-
<br />gage debt, subjectto the Mortgagee's option as hereinbefore provided, independent of the mortgage lien on said real
<br />estate. Upon payment in full of the mortgage debt and the release of this mortgage of record, this conveyance shall
<br />become inoperative and of no further force and effect.
<br />(Words and Phrases herein, including the acknowledgment hereof, shall be construed as in the singular or plural
<br />ntu.bers and as sasculine, feninine, or neuter gender, according to the context.)
<br />() i%
<br />�
<br />SEAL ��' " - (SEAL)
<br />Ervin M. Hostetler(
<br />(SEAL)
<br />(SEAL)
<br />(SEAL)
<br />(SEAL)
<br />(SEAL)
<br />(SEAL)
<br />STATE OFQf i,LS �a DONALD K. WADELL
<br />:enersl tiotory-Stdo of Nebr.
<br />a
<br />SS. My Cw lMISSi Expires
<br />COUNTY OF Iia MWch 11.1978
<br />7'11On this y day of Fe 6/ el A.D., 19 ? r, before me, a Notary Public in and for said County and
<br />State, personally appeared Ervin M. Hostetler (also known as Ervin Hostetler), single,
<br />'to me known to be the persons named in and who executed the foregoing instrument, and acknowledged that they executed
<br />the same as•thelr.voluntary•act and deed.-
<br />IV
<br />eed:
<br />IV commission expires Aj d,-c/I
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