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(6) 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 therein, the said
<br />awards are hereby assigned to the Mortgagee; the Mortgagee is hereby authorized to colle(:t, receive, and receipt
<br />therefor and to apply the same In payment of any indebtedness, matured or unmatured, secured by this mortgage.
<br />(7) That In the event Mortgagors default in the payment of said principal sums or of any installment thereof, or
<br />of any interest thereon, at the time when the same shall be due, or with respect to any covenant or'ronditlon 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 />(8) That in the event action is brought to foreclose this mortgage, the Mortgagee shall be entitled to immediate
<br />possession of the mortgaged premises, andthe court may appoint a receiver to take possession of said premises, with
<br />the usual powers of receivers in like cases.
<br />(9) That failure or delay of Mortgagee to exercise any of its rights or privileges shall not be construed as a
<br />waiver thgreof; that any act of Mortgagee waiving, any specific default of Mortgagors shall not be construed as a
<br />waiver 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 lien, 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 had and -
<br />the land described herein 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 />w1 thout 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 Mortgagors 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 />forcement 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 Mortgagee's 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, subject to the Mortgageets 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 />nurbers and as rasculine, feninins, or neuter gender, according to the context.)
<br />( SEAL ) ( SEAL )
<br />(/ Tgdhde 1 J. Gangigish
<br />(SEAL) /iLz " ` d t -t K - - - .i-< _c (-SEAL)
<br />Treva E. Gangwish
<br />(SEAL) (SEAL)
<br />(SEAL) (SEAL)
<br />STATE OF P G! JS a DONALD K. WADELL
<br />CerwM Nouns Si of Nebr.
<br />ss. lacy Comrrdnion Expims
<br />COUNTY OF 11,2 Match 11, 1978
<br />Thi
<br />On this V Fe 0,
<br />(lay w A.D., 19=, before me, a Notary Public In and for said County and
<br />State, personally appeared Wenrial l T Gangn,_sish and Treva T rZAJJg Ti ch husbztnd and Wife
<br />to me known to be the persons named in and who executed the foregoing instrument, and acknosraedged that they executed
<br />the same as their voluntaryact and deed.
<br />1•fy commission expires/,L!
<br />e (Type or print name under signature)
<br />Notary Public in and for said County and State
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