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<br />[ i, ~ ~ m r. ~ n, r 1 , _ nR an,r w..r ~ ~-e~ ;made ±'a t:.e CS^arc~tgagDrt ar tk.e v r d,a res - 1n 1 + ra ... • a,k N.-r r ~y gi..g
<br />p r a.~a
<br />t a, t'h x~, '; ~ i 7. -~~ a •r r,^air he whale ar aiiY parr a•f H --artR ;red eTi s or ac ,r ai ~ t }~e t °ald
<br />„rr , t.r tm i~ ^,, signed fio tte Mortgagee; the Mortgagee s ~Pre~iy ~,~ttr. rmr tea o ., rare i :r , z d r V1pt
<br />mD_.ra.ar ..,t^., t.n _pw'-J' the .,ame in payment c:f anY .~ndeD'CPdn_ss, matured br unmatu_+s d., se,.i.r•ed DJ ~h1.~ mar,~,:ya,,,,
<br />(7; ~s :laff,~ Sn the eve(uL 2".ortgagars dafau2t ±.n Lhe p~~aymeuu Y, of said p'e inoSI';al suum, or of any instal lmrnt thereof, e
<br />of any lnt?rest tirere~r., at •~'!e ttmm when Lhe sar.:e shall De due, ar w1tII respect arty covenant or condition her?-
<br />S cf, then, st the :,ptlon of Mcrtgagee, Lhe entire indebtedness s?oared hereby shali~farth~eith bec7mm ? ~ ^^d *•L
<br />shall bear ;~. st at "^e defsa_:, ~ e fiesCrl'cai; in said note, and LDe Mortgagee may Zrr.;ediaLely~foreclose Lhis
<br />mortgage or pursue aqy other available legal remegy.
<br />(g} That Sn the event action is Drought to foreclose this mortgage, the Mortgagee shall De entitled to immediate
<br />posmsession of the mortgaged premises, and the start may appoint a -ecelver to take possession of sal" premises, with
<br />h_ usua_ pcwers of receivers fn like cases.
<br />1
<br />(9) ?hat failure or delay Of Mortgagee to exercise any of its rights Or privileges shall not be construetl as a
<br />waiver thereof; that any act of Mortgagee waiving any specific default o2 Mortgagors shall net be corstrued as a
<br />waiver of any future defaults; that in case cf CefaulL in the payment of any amortizatlor. installments or Interest,
<br />or 1^ rase of FaYmert Dy Y,ortgagee of aru '1en,judgment,tax, insurance,cost or expense, or rents, fees or charges,
<br />said 1;arLgagee shall have the privilege, wiLhbut declaring the whole Sndebtedness dce and payable, to iereclase or,
<br />secount of such specific default far such sums as are Sn delauit and such foreclosure prar.eedings ,ray be had and
<br />the land described herein may De s~~2d, subject to the unpaid in_'eDtedness hereby secured, and this mortgage shall
<br />cortlmie as a 21er, for any unpaid balance.
<br />(iC) That. the Mortgagee may extend and defer the maturity of and renew and reamorLize said indebtedness, release
<br />from ilability any party liable thereon, and release from the lien hereof portions of tf:o ^roperty covered hereby,
<br />without affec[Ing the priority hereof or the liability of Mortgagors or any other party for the payment of said
<br />Sndebtedness, all such extensions, deferments, renewals, and reamorLlzatlcns Lo be secured hereby.
<br />{Si; Transfer of Security. IC is agreed between the parties hereto, Che1r heirs, 1?gal representatives and assigns,
<br />Chat the lnteg.^Sty and responsiDllity of the Mortgagors constStutes a part of the cansideraLlen _*or the not= secured
<br />'tetchy, and that In the event the Mortgagors shall sell, traza~"er, a:~ convey the property described herein, the
<br />Mortgagee may at it_s option declare the entire Sndebtedness immediately due and payable and may proceed in the en-
<br />forcement of Sts rights as on any other default in the terms of the note and mortgage.
<br />{SZJ Assigrunent of Groceeds of M'neral Lease. Mortgagors hereby iransler, set over, and convey Lo 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 nay kind now existing or that may hereafter come into existence, covering the above land
<br />or any part therenf. 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 a_nd deliver to the Mort¢agors or their successors is interest, aqy ar all
<br />o.* such sums without prejudice to any of Mortgagee^s rights to take and retain future sums, and without prejudice
<br />to any of its ether rights under this mortgage. The Transfer and conveyance hereunder to Mortgagee of Bald rents,
<br />royalties, aonuses, and delay moneys shall be construed to be a provision for the payment or reduction of the mort-
<br />g'Be debt, subjecttD the Martragee~s option as hereinbefore provided, independent of *_he mortgage lien on said real
<br />estate. Upon payment in full of the mortgage debt and the release of Lhis mortgage of record, this conveyance shall
<br />become inoperative and of no further force and effect.
<br />r~'^'ds ar? ^F-rse; ?~erein., i=.c>~.ttit::g !e cc^-:cw'-wgrent aereot, srali be costrt~d as in the singular or pturnl
<br />r.:~bers an3 ~as >ta.sculirz, teminine, or neuter gender, according to the context.;
<br />(SEAL) "~i1 •,j~/''~~ _. (SEAL)
<br />_ y _ ~hdmas fit. Ra'uert
<br />~ - .. f: f,:,, j ~ ,
<br />(SEAL) ~'~`~L~ ~ !~'~~F!r~.•'Ti (SEAL)
<br />--- ~~HU~d ~2ueYt
<br />(SEAL)
<br />(SEAL)
<br />(SEAL) (SEAL)
<br />_/ ~' ,-
<br />STATG pp .~.~-~~~.c'h'l'-f..f'
<br />i'%f ~ 55.
<br />-; fh
<br />.:_
<br />r,A,".-h_s f~+ day cr ;~~+-k-~~..~ ~ A.D., So1~ berore me, a Nc*ary :ablic 1r: and fbr said County and
<br />state, personally appear-ed ~F Thomas R. Rauert and Paula Af. Rauert husband and wife
<br />to me knotwn to be the persons named ir, and who executed the foregoing 1.^s t.^umect, snd acknowledged that they esecuced
<br />the same ss their voluntary act and deed.
<br />Ntv commissicon expires- N~fi~Nt~ ~~
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