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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 pa*Ft bf 'he 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.recelpt:
<br />therefor and to apply the same 16 payment of any indWtedness, matured or u)imatured; secured by'this ;mortgage.
<br />(7) That in the event Mortgagors default in the pay trent of said principalssum,lor of:any installment thereof, or:
<br />of any interest'thereon, at the time when the same sh ll be due, or with respect{to any covenant or condiflon 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 an um, and the Mortgageemay immediately foreclose;this,mortgage
<br />or pursue any other available legal remedy.
<br />(S) That in the event action. Is brought to foreclose this mortgage, the ,Mortgagee shall be entitled; to immedlate
<br />possession of the mortgaged premises, and -the court ma, appoint a recelver:to take possession of said premises, with
<br />the usual powers of recelvers'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 waiving an specific default of Mortgagors shall not be cpnstrued as a
<br />waiver of any future def aults;.that in case 'of defaul� in the payment of any amortlzation installments or interest,
<br />or In case of payment by Mortgagee of any lien, judgmeit, tax, insurance, cost or expense, or rents, feos'or charges,
<br />said Mortgagee shall have the- privilege,. Without declLring the whole indebtednes's due!and payable, to foreclose on.
<br />account of such specific default for -such sums as arb 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 fiortgage shall
<br />continue as a lien for any unpaid balance. w
<br />(10) That the Mortgagee may extend and defer the mat rity.;of and renew and! reamortize said indebtedness, release
<br />from liability any party liable thereon, and release Erom the lien hereofportions. of';the property covered hereby,
<br />:without affecting the priority hereof or the.11abllity of Nortgagors or any other. party for the payment of said
<br />Indebtedness, all such extensions, deferments.;.renewa.s, and reamortizations to 'e secured hereby.
<br />t (11) Transfer of Security. It is agreed between the p rtles hereto; their heirs, legal representatives ;and assigns,:
<br />that the integrity and responsibility of the Mortgago)s constitutes a part of the consideratlon for the note secured
<br />hereby, and that in the event the Mortgagors shall still, transfer, or convey the property described herein, the.'
<br />Mortgagee may at its option declare the entire 7ndebt�dness immediately dueand payable and may proceed In the en
<br />.forcement of its rights as on -any other default.in'th( terms of the note and mortgage ,
<br />(12) Assignment of Proceeds df Mineral Lease. Mortg �gors.hereby transfer,;setjover and convey to Mortgagee all
<br />. rents, royalties-, bonuses, ani delay moneys that may from -time to time become due and payable under:any•,.oll, gas,
<br />or other mineral lease of any,kind now existing or th�t may hereafter come into existence, covering t)le 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 delive)4Jto the Mortgagors or ;thelr successors in interest,'any.or all
<br />of such sums -without prejudice to any of'ttortgageeis.rights to take and retain uture;sums, and.withbut:prejudice
<br />to any of its other rights under this mortgage. The Fransfer and conveyance her under to Mortgagee of bald rents,
<br />royalties, bonuses, and delay.moneys shall be'constru Ij to*be a provision fdr the payment or reduction of. the mort
<br />gage debt, subject to the to option as herelnl-fore 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 />(k'ords and Phrases herein, including the acknowledg:pnt hereof, shall be cons*rued as lin, the singtia/r, or /¢.Mural
<br />nuabers and as masculine, fer,,tnine, or neuter gerder, according to the c �teX4. {
<br />(SE1 I
<br />(SEeL) w
<br />___(SEIL)
<br />i
<br />(SE/L)
<br />STATE OF "' e S Ir '9
<br />DONALD K. WADELL �
<br />a /r s s . ft(V f Eo1XpNor.
<br />COUNTY OF MwClf 11,1978
<br />On this -29 day'of /711q!/S% A.D., 9 -LT- before me, 'a:No
<br />State, personally appeared Tr. and Thelma F_
<br />to me•known to be the persons named in and who executed the. foregoing lnstrument,
<br />the same as their voluntary act and deed.
<br />My commission expires
<br />GA a
<br />(Type
<br />Notary Public
<br />C--- - ``,- (SEAL).:
<br />acha F. Bar er' r.
<br />RL (SEAL),
<br />Thelma F Barber
<br />(SEAL)'
<br />(SEAL)
<br />I. •
<br />'y'Public in and for said County and,"
<br />rhPr,'
<br />Iii nGhand and' wi fa
<br />and acknowledged that'tl)ey executed
<br />o, pr,inf name under 'signature')
<br />in and.for said CounCy'and State
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