|
<br />(B) -That in the evert any avrards are merle to t'ne f1ortgagers cr their suceesspr^ Sr, ; e est far taking or d<~,maging
<br />Dy the er:erCise of eminant domain Lhe whole or an_v part of the mor t.gaged premi:~es ur ~.ny•caserocra thereon, the said
<br />awards are hereby assigned Lo the Mortgagee; Lhe Martgagee Ss hereby authorized to col': a~.-t ^eceive, and receipt
<br />therefor and tc apply the same in payment rf ar:y indeGtad[tess, mater ad or unma;,u r;. ~+, secured trv fh i:> mortgage.
<br />j?) That in Lhe event Mertgagors default in the payment of ;aid prin~Spai stm, or of any its r,sllmera. thereof, cr
<br />of aryY interest thereon, at the time 'when the same shall be due, or with re spec[ to ary coaenant or candition here-
<br />of, L'her„ at trig cptlor, of Mortgagee, the entire +ndebtedness secured hereby shell fcrthwiti! become due and payable,
<br />shall Gaar in teresL at the default rata described .n said note, and the Mortgagee may immedlatel.y foreclose this
<br />mortgage or pursue any other avaiYable legal remedy.
<br />;6) That in the event action 1s brought tc foreclose this morCgage, the Mortgagee shall be entitled tc ic~ediate
<br />pessessicn of the mortgaged premises, and the court may appoint a recei•rer La take uosses sign Gt sari ;, em ises, vri th
<br />the usual powers of receivers Sn like cases.
<br />(9} That failure cr delay of Mortgagee is aFercise ar~~ of its rights dr privileges shall not be ~~orstrued as s
<br />waiver thereof: that 'w^ti act rf Mortgagee waiving aqy specific defau'_t of Mertgagors shall not t,e construed ar; a
<br />waiver a! ark r1r.ure defaults; that in case of default In the Payment at any amartizatlor: SnsLailmenrs or 1nr_eresL,
<br />ar Sn Case cf payment Uy M.art.gagee o; any lien, judgmen t, tax, insurance, cost o expeasa, or rents, tees or charges,
<br />said Martgagee shall Nava the privilege, without declaring the whrie indebtedr.ass due and payable, to f+~reclese cn
<br />aoacunt of such speaif is refauZL tar such sums as are in default and such fereclasure proceedings may be had s.^,d
<br />t*e land described sereir. may be su1d, subject ra Lhe unpaid indebtedness tetchy s_cured, and ti!is mortgage shall
<br />c ontirue as a ZS en tar any unpaid balan^.e.
<br />{SO) Thal the Mortgagee nay extend and defer the maturity at aP.d renew and rearartize said indebi~ness, release
<br />from liability any party liable thereon, and release from the 11e*: hereof pardons o the property ^avered hereby,
<br />Svithout affecting the priority hereof ar the liability of Mortgagors r_•r ary o*_her party for the payment of said
<br />indebtedness, ail such ex tensians, deferments, renewals, aad reamortlzatl ar;s to be secured hereby.
<br />fit} Transfer of Seetirity. TL 1s agreed between the parties here r,c, their belts, legal reprasenta±ri•es a_d assigns,
<br />4hat Lhe intagrity and responsibility of the MerCgagors constitutes a par*. c..*the cons;Q?ration f:;r the note secured
<br />hereby, and that in the even± the Mortgagors shall sel'_ _ransfer, C~he property cescrlG ~.d here the
<br />Mortgagee may at Sts opLian decia^e the ea~ire 3ndebtedne~ss Immediate iy due, aad payable and m : praceed Sn r'r:2 +~r:-
<br />torcement of its rights as e., any ether default lr, the tern: of the no e and mortgage.
<br />(i2) Assignment of `rracee ds of *:ineral Lease. Mortgagors hereby transfer, over r~.d ^.onvey .*,o P'~rtgagee alZ
<br />rents, rayalties, bonuses, and delay r„oneys that may °^cm tl;^e '~ t.i-e t ,•ab'_e !i per ary o gas,
<br />or ether mineral lease of ar.Y kind now existing ar that may hereaf te^ ^Ome^intc~? .~ren^~ .;vent^.g thn strove land
<br />ar arGi Part t'rereef. All such swms.so received GS Mortgagee shall b ppiled t the ~.'ndettad.^.ess secti ed hereby: er
<br />e a _
<br />said Mortgagee may at its option turn over and deliver to the Mortg-gars ar their successors In interest, aqv or all
<br />of such sums a:l thaut prejudice arty cf Martgagee+s rights t^. k:-ice and re f.ai^ 'v t~~_^~ sums, a;:d withot:t preJudice
<br />rr, any of its other ^:ghis Hoer ythis ~artgag2. The ransfer ai'.."_ ~ veya ;r._ reu:; C~ gagse of sai+' rent
<br />royalties, bonuses, and delay moneys shah be construed *a be ~ provSslon na}•ment~or reduction of the ma.^t-
<br />gage debt, subjecttc the Y:ortgagee+s aptior, as herainbafor2 F^ovidad, indaterdent ~f the mortgage 11ar. en-said real
<br />estate. i7pan payment in full Gf the mortgage debt and the release of t-his m:-.rtgage cf r__,,. _, this Cea veyanae shall
<br />become Srcperative and of ;.., fur t..*.er force and effect.
<br />(fiords and tiarases hz-etin, in t*:d.ir•~ the ac it .om.'ecg-re*.t Ge r_;;* =acs'. r;:ad a 5. +. hs sira w%ar r+ ~,ural
<br />rt~beTS cn~ as ~nsc~3ine, (emir ire, or re ute+ gene er, accer:ri?• ~o~!= ~cc^.t=r.±.; J ^.r
<br />/,, y{, ~,7 // _
<br />i'I l~t.i'--^~~ ~ ~11~ir 'SEA„ .i.L' t~ ~ , ,._.Ai. ).
<br />chard C. Spie s c and Flo
<br />yl ~ S ix t~ >•t.JL Q.-kl;~~ ~ f SEA:, ) ~~ 1-," d-~/~' f' ~~~ t' SEAL i
<br />"~~iane aeR Spiehs ar one e
<br />GGA~ , {sP,SL)
<br />STATc ~o ~l~br a5 f, ~ (~-'t(~T~peM$i
<br />/~ _. ~..
<br />CG'r't;TY OF !,'~ (% 6!-~ditlsl~
<br />On tY:ls .day or ~~2C P~heJ- .,. D.. 13 ~x Getcre ,. ._ `;lo~ a.;bi__ ._. ....,. :,.. saSd ,oun ty and
<br />state, personally appeared. Richard W. Fioffett (also known as Richard Wayne Ffaffett) and
<br />Darlene D. FSo€fett ialso known as Darlene Denise Ffaffett), husband and wife; and Richard
<br />C. Spiehs {also known as Richard CYiarles Spiehs) and Diane Rae Spiahs, husband_apd wife,
<br />to me known CO Ge the pets ct:.. n%uned Sn and w1;~ execu ..~_ ,.._ .,,_ _ ng ..:. _^u^o.. ..~~~kr.,. ._ ,?3 .;tat thou axecu[eC
<br />the sa:.e as their .,,zan,.. , ~.... -.,.. ,__~.
<br />~• e-rsmissiCn exp'-r as /~i~-rcit 11 s ~41r 3_~
<br />C
<br />a
<br />w
<br />iY+ ~ '
<br />iT
<br />~ ~.
<br />i
<br />O
<br />a
<br />4 1
<br />0
<br />~.
<br />tfi1., X
<br />~ ~
<br />d C
<br />Vf ~ 5:
<br />UJ ~
<br />h ~ :r
<br />it
<br />'
<br />~
<br />h
<br />~
<br />~
<br />~ I
<br />
<br />
<br />f
<br />
<br />
<br />R
<br />
<br />m ,p
<br />w a m
<br />~ s ~
<br />'C - t i ~ c p
<br /> {
<br />C
<br />O
<br />m p ,o
<br />;~ ~
<br /> o 0
<br />
<br />I {
<br />~ ~ L
<br />-ype o r irzt na°x un.,er 5i5na_ure,
<br />...._3:J vbllctinraP.d iJ_ .,...., ~4Lhty ar,d StaCe
<br />_ _.... ... ._ ~~__.__ __ ~~...__._ .....___'C-.._
<br />f• [V f
<br />r"~ a
<br />I ~ ~ ~
<br />1 ~c
<br />c".
<br />d j
<br />c- fl
<br />w _
<br />~ ~
<br />L o
<br />u
<br />~ -~ p
<br />Q Vi 1
<br />t r
<br />C
<br />h G
<br />o i
<br />^. ~ ~'
<br />~ t ' t_./
<br />V]•
<br />~
<br />z: a; __ ~,
<br />., ti
<br />a _
<br />a
<br />~ s
<br />w
<br />o
<br />y i
<br />
<br />~
<br />
<br />
<br />~ `~yy yy
<br />o ~" L~ ~E r
<br />w, ;
<br />77 1
<br />~ G .
<br />~
<br />~'
<br />(~ 1
<br />~ tk b
<br />( v .
<br />v
<br />
<br />'{.
<br />~~1~
<br />I .Y~
<br />
<br />
<br />1'
<br />S~ [it .f~3}i!3 .
<br />
|