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<br />83- 0015~H)
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<br />(6) Tbat in the event any awards are ffiarle to the Mortgagors or their successors 1n Interest tor taking or damaging
<br />bY the- exercise of eminent domain the whole or any part or the mortgaged premises OI~ a.ny easement there!n. the said
<br />awardS are, hereby assigned to the Mortgagee; the Mortgagee Is hereby authorized t,Q collect, receive, and"recelpt
<br />therefor and to apply the same In payment of any Indebtedness. matured or unmatur'ed, secured by this mortgage.
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<br />(7) That In the event Mortgagors default. tn the payment of said prlnctpal sum, or of any Installment thereof, or
<br />or any Interest thereon, at the tIme When the same Shall be due J or wi th respect to any covenant or cood! tlon here-
<br />of, then, at the optlon or Mortgagee, the entlre Indebtedness secured hereby shall forthwith become due and payable,
<br />shan bear lnterest at the default rate descrlbed In sald note, and the Mortgagee may Immediately foreclose this
<br />mortgaga or pursue any other avallable legal remedy,
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<br />rS-) That in the event action 1S. brOUght to ,foreclose tIlls mortgage, the 110rtgagee shall be ent1tled to immedIate
<br />possesslon of the mortgaged premises, a.nd the court may appoint a receIver to take possession of said premises, wIth
<br />the usual powers of recel vers in like cases.
<br />
<br />C9.} That- faIlure or- delay of Mortgagee to exercise any or its rights or prlvlleges shall not be construed as a
<br />waiver'thereof; that any act of Mortgagee waiving any speclflc default of Mortgagors shall not be construed_ as a
<br />waiver of' any future detaults; that in case or default in t.he payment of any amortization Installments or interest,
<br />or In case of payment by l"'tortgagee of any Hen, judgment, tax, insurance, cost or expense, or rents, tees or charges,
<br />saId_ Mortgagee shall have the pr! vllege, wI thout aeclarlng the whole indebtedness due and payable. to foreClose on
<br />account ot SUCh speciflc 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 Uen for any unpaid balance"
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<br />(10) That the Mortgagee may extend and defer the mat.ur1ty of and renew and reamortize saId indebtedness. release
<br />from l1abl11 t.Y any party liable trlereon. and release from the l1en hereof portions of the ,property covered -hereby',
<br />WIthout affecting the prIority tiereo! or the liabIlity of Mortgagors or any other party for the payment ot said
<br />indebtedness, -'ill S'Jch extensions. deferments, renewals, and f08.mortlzar-lons to be secured hereby,
<br />
<br />(il) Transfer of Security" It 1s agreec between the parties -hereto. theIr helrs, legal representatives and asSigns,
<br />that the Integrity and respomHb1l1ty of the Mort.gagors constitutes a part r)f the ~onSlderatlon for the note secured
<br />herebY, and that in the event the Mortgagort. shull sell, transfer. or convey the property described hereln, th'e
<br />Mart,gagee may at its option d~cl:ire the entire Indebtedness immedlately rlue ann payable and may proceed in the en-
<br />forcement of its :-lg11ts as on ~my other default in the terms of the note and mortgage.
<br />
<br />(12) ASSignment of Proceeds ~lner9.1 L8ase. :1o!'tgagors hereby transfer, set {'Iver, and convey to Mortgagee all
<br />rents, royalties, bonuses, del:1Y 1toneys that ~ay from r.1me to tlme become due and payable lmder any all, gas,
<br />or other mineral lease of any ~lnd now exlstlng Gr' t.1Vlt may hereafter come into exJ.stence, ('overlng the above land
<br />or any part thereot. All such gums,so rece1ved by ~1ortgagee shall be applied to the lndebtedness secured hereby; or
<br />said Mortgagee may at its option turn over !-lnd del1ver to tti€ Mortgagors or thelr successors in interest, anyor all
<br />af such sums without p-re.1udlce to (,r ;Vlcr!:;'lagee!:; rights to take and rer.r-dn future sums, and without prejudice
<br />to any of its other right.'.> ~mder :'1ortgage. The tr::m.zfer 'ind .:,onveyance [Jereunjer to f10rtgagee of said rents.
<br />royalties, bonuses, and c:elay moneys shall be ,::,onstruecl to be 1 provision fDr Ule pFlyment or reduction of the mort-
<br />gage debt, subject to tt:e '!'!ortg:U?;eeI3 option ~iS hereinbefore !,:,r;vlded, lnderendent i)f the mort,gage lien on said real
<br />estat-e. Upon pa}'ment 1n ruE of t:12 !TIortv,age c1ebt. ,lTIfl the release (~r this ;r]ortgage of record, this conveyance shall
<br />become inoperatIve and of no futthe~ for~e an:': effect"
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<br />(Words and 'Phra.ses herein. ine t'W:ii1'lf Uw.
<br />rr'lD!-be>rs arui. as r:tasculir..p, /pllini.;'{R, (;-r -o:e:..de7'
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<br />hereof, sr.aLl be cor.stnJ-ed as in the sing-u~ar Or p~u1"al
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<br />l(cording ';'1!;;(2 ;J 7lpF
<br />(SEAL: ~ ' e.q~lk (SEAL)
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<br />(SEAL)
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<br />/7, II iJ',
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<br />Adeline Stelk
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<br />(SEAL)
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<br />(SEAL)
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<br />(SEAL)
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<br />M.v commlsslon expIres h'b'-""-"-"1 t.j 1'11'1
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<br />GSlEIAL NOTARI'~""Of-
<br />CURTIS W, MICKEY
<br />L. _ My Comm ['p- Feb, 6, 1934
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<br />w.r-"'~ ~ ype :r ~i~n~ !1:L \.mde~ s i q na t ur t' j
<br />:~Qt,ary Pub Uc in ;It!(i for' sf1.1d ('ounty
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<br />(SEAL)
<br />
<br />(SEAL)
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<br />STATE OF' lYe, b rA,.sLr:.-
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<br />COUNTY Of JI A I (
<br />on thls-Lday or A ~ ,.., I
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<br />, A.i.'.. _l:~iJ, before m,}. a ;-;otfl..ry Publi--: in .'iOd for sal(1 county and
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<br />State. person9-ll)' s.ppe-ared Charles
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<br />Stelk and Adeline Stelk, husband and wife,
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