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<br />(oj That.in the event any awards are made to the 1-fortgagors or theirsuccessorsin 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 collect, 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 sum, 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•condition here-
<br />of, then, at the option of Mortgagee, the entire Indebtedness secured hereby shall forthr+ith 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, and the court may appoint a receiver to take possession of said premises, .vith
<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 thereof; that any act of Mortgagee -.valving 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 lien,judgment,'tax, insurance, cost or expense, or rents, fees or charges,
<br />said Mortgagee shall have the privilege, without declaring the r:hole indebtedness due and payable, to foreclose on.
<br />account of such.speclflc 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 alien 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 />wlthout affecting the priority hereof or the liability of ?fortgagors 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 er,
<br />forcemeat of i-ts rights as on any other defdult 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 noxi existing or that may hereafter come into existence, covering the above land
<br />or any part thereof. All such sums so received by 1.lortgagee 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 cinder 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 Mortgagees 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 />(,'orris and Phrases herein, including the acknowledg-ment hereof, shall be construed as in the singular or plural
<br />nt4,bers and as r•.asculine, feminine, or neuter gender, according to the context.)
<br />(SEAL). ✓(SEAL)
<br />/ Loi L. Lu t
<br />(SEAL).
<br />SEAL) ' / �J7i�t ti' _ • (SEAL)
<br />Sand a Luft
<br />( SEAL):'
<br />(SEAL)
<br />(SEAL)
<br />(SEAL)
<br />I
<br />STATE o, d 5 d JL DONALD K WADELL
<br />! s s . Gtrivai Notary3tth d N�
<br />My March 11191
<br />i COUNTY OF Ha 1
<br />711
<br />Ori this—qday of �!%9P Ci7 A.D., 19Z ' , before me, a Notary Public in and for`.sald County and
<br />State, personally appeared Lael T,_ uft-: (also knnwn as T, rlra T ILt£t-(ansa
<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 their voluntary act and deed.
<br />� NS• commission expires
<br />d/» /oi �
<br />(Type or print name under signature!
<br />Notary Public in and for said County and State
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