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<br />in the event'any awards are made to the Mortgagors or their -successors In Interest-for'takIng or darfiaglng
<br />by the exerclse,of eminent domain the whole*or any-pa�rt of the mortgagedpremises or any easement therein, the said
<br />awards are hereby 'ass Igned'to the Mortgagee; the Mortgagee Is hereby -authorized to collect, -receive, and receipt
<br />therefor and.to apply -the same In payment of:any:l-ndebtedness, 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 Installmen ' t thereof, dr
<br />of any Inte�bst 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 forthwith become due and payable,
<br />shArl be�r interest at the rate of ten percent per annum, and the Mortgagee may Immediately foreclose.'thls mortgage
<br />or pursue any other avallable'legal remedy.
<br />(a) That In -the event action is brought to, foreclose this mortgage, the Mortgagee shall be entltled�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 iailure or delay'of Mortgagee to exercise any of Its rights or privileges sball 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 an� 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 Mortgageeshall 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 />fro[h.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) Tr�nsfer of Security. ! It Is agreed between the part les -hereto, their heirs, legal representatives and assign s,
<br />that the ine-egrity and responsibility of the Mortgagors constitutes a part ofthe 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 dome Into existence, covering the above land
<br />or finy part thereof. All such sums so received by Mortgagee shall be applied to the Indebtedness secured hereby; or
<br />said Mor.tgagee may at Its option turn over and deliver to the Mortgagors or their successors In IntePest, anyor 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 Itsother 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 �hls mortgage of record, this conveyance sball
<br />become Inoperative and of no further. force'and effect.
<br />(Words and phrases he -rein, including the ac know ledgment hereof, shall be construed as in the singular or Plural
<br />num,bers and as -masculine, feninine, or neuter gender, according to the.context.)
<br />(SEAL) —(SEAL)
<br />rW Moffett
<br />(SEAL)
<br />(SEAL nenip
<br />�e'/A. Moffett
<br />(SEAL) (SEAL)
<br />(SEAL) (SEAL)
<br />STATE OF — Ile 2 S f-,? DONALD K. WADELL
<br />ss. Ge"eml mc"My-stm of Rabr.
<br />My com"ftWW EXD[Mg
<br />COUNTY OF- jam Unch 11, 1976
<br />On this day of �*le
<br />A.D., 192f, before me, a Notary Public In and for said County and
<br />State, personally ap peared Rnlie-rl- G Moffett and Deni-e-ee R. Meff-etit, husband al"d wife,
<br />,to me known to be the persons named In and who executed the forego Ing � Instrument, and acknowledged that they executed
<br />the same as their voluntary�act and deed.
<br />AIV commission explre� I "Ile
<br />(Typ� or print name under signature)
<br />Notary Public In and for said County and State
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