|
`.
<br />(6) Shat in the event aqy awards are made to the Mortgagors or their successcrs In interest for taking or damaging
<br />by the exercise of eminent domain the whole or any part of the mortgaged premises or arty easement Unerein, the said
<br />awards are hereby assigned to the Mortgagee; the Mortgagee Ss hereby aurhorized to Coll°ct, receive, and receipt -
<br />~~ tDerefor and to apply Lhe same in payment of any Indebtedness, matured or unmatured, secured by this mortgage. -
<br />(ry) Tnat In the event Mortgagors default ir. the payment-oi said prir,clpal sum, or of any installment *hereof, or -
<br />- of aqy interest 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 her eDy shall forthwith become due and payable,
<br />'.!t shall bear-Sn terest at the default rate described Sn said note, and the Mortgagee may Sneeediate?.y foreclose this
<br />- mortgage or pursue any other avallaDle le~l remedy. - - -
<br />'' ! (8) That in the event action is Drought *.o _*oreclose Ghls mortgage, the Mortgagee shall be entitled td Smmediate-
<br />I possession of the mortgaged premises, and the court may sppoint a receiver to take possession of sold premises, with. -
<br />the usual powers cf receivers in like cases, - - --
<br />(g} ThaE tai lure or delay of Mortgagee to exercise aqy of its rights or privileges shall not be construed as a -
<br />weaver thereof; that arty act of Mortgagee waiving any specific default o.* Mortgagors shall-not be construed as a
<br />waiver oT any future defaults: that to case of default In Lhe Fayment of any amortizatton installments or interest,
<br />or in case of payment by Mortgagee of sqy 11en,ludgment, Lax, irsurance, wst or expense, or rents, fees x ct~.rges,
<br />!' } saitl Mortgagee shall have the privilege, ~.vl thout declaring tl:e whole Sndeb redness due and payable, to foreclose on
<br />acount of such specific tlefsult for such sums as are Sn default and such foreclosure proceedings may be~had and -
<br />the land described here lr. may De sold, sub,7 ect to the unDPid Sndeb~edness her eDy secured, and this mortgage shall
<br />contihue as a lien for any unpaid balance.
<br />(i~') That the Mortgagee may extend and defer tre maturl ty of and renew and reamortlze said LndeDtedness, release
<br />from 1ia6111 ty any party llablP tDereen, and release from the 11 en hereof portions of the property covered hereby,.
<br />~; i Withou*. affecting the prs_ori ty hereof or the 11 ab.Slity of Mortgagors or any other party for the payment of said
<br />s { Sndehcedness, all such excenslons, deferments, renewals, and reamortkzat Sens co be sem;retl hereby.
<br />`; S
<br />" I (S:.) Transfer of Security. It Ss agreed between the parties-hereto, their heirs, legal i'epresentaCives and assigns,
<br />'I chat the Integrity and respnnsi bSllty of the Mortgagors constitutes a part cf the conslderatlon Yor the note secured
<br />-4 hereby, and that ,n Lhe event the Mortgagors sha1T sell, transfer, or convey Che property described herein; the
<br />` Mortgagee may at Sts option declare the entire lndebtednese immediately due and payable and may proceed in the en-
<br />~~ Yorc ement of its r?gets as on aqy other default 1^ the terms of the note and mortgage.
<br />-( re~i~ASroY'~ties~fDOnuses asand de ay moneys ethat mayg gom Lame oto time bz cme duo sod PaYaDleV Under snyt8f~eegasl
<br />`~~i or other mineral lease of any kind now existing er that may hereafter come Into existence, covering the above land
<br />j ar any part thereo C. A11 such sums.so received Dy Mortgagee shall De applied tb the ladeb redness secured :-ereDy; or
<br />-; sa!d Mortgagee may at its optlDn turn over and deliver to the Mortgagors or Their successors in interest, any Dr all
<br />._ of such sums witho:rt pre~udi ce 4o any of Mortgagee ~s rights to take and retain future sums, and witnouC p^e~udice
<br />to any cf tts orhe~~ rlghte under rYi1D mortgage. The transfer sad conveyance hereunder to Mortgagee of said rents,
<br />-~) r?Jalties, bonuras, and delay moneys shall be constru°d to be a provision for the payment ar reduction of '..ha mcrt-
<br />_!~ gage debt, sub, err -,o the Mortgagees option as here lnbefore provided, independe^t ^f the mortgage 11er. do said real
<br />~ escafe, Upor. payment In foil of the mortgage debt and the release of ch!s mortgage of record, this conveyance shall
<br />-_` Dec ome inoperative and of no Purther force and effect.
<br />(R'ores aril ¢n-rese_ here i+s, arc Gvdirg the ac tcowledgnert izreor, shall be construe3 as ir. t:e ssnquiar or pEssraL
<br />~~~ nun6ers an3 as -:.cs: uLinz, feminine, or rxeuter ger[ier, acr.~rd ting tC the context.;
<br />,~ , ~ KrI
<br />(SEAL ~~.l~~' -' (sEAI.;
<br />)
<br />1 % ~ _ .. a. s . ~r
<br />'' ~ _ ~..
<br />(SEAL) '" ,L.'~8~~~~'~ ~~,, (SEAL)
<br />~arcia"~i~.~ a'B-x~
<br />;SEAL)
<br />l SEA! )
<br />_. ;SEAL} iSEAL)
<br />r
<br />STnTE OF ~} '' _
<br />Cp'MTY aF~---~__ _
<br />utl thts ~~ say cr v~-~l~ ,,.,, :-g lK~i, be. _.e :._, 3 Nnr.ar:: f'uC11C lf? old ini' sstd ~`:,u;Sty sod -
<br />St ae, peraenal'y :Dpearei James A._Baxter and Marcia M. Baxter, husband and wife,
<br />Co me known to be t:a ;ors ohs n.med in and whc exe~cu~ed the Poragaing instn;ment, and actin cwt edged that rt;?y exPCUted
<br />Ch~~ soma as their "n Junta°:~ sec cold deed.
<br />/'~ K. ~..[ ~ / 4
<br />Irv onmmisslon axpi. ~~.. __ 1pµ./Wq..p~l µ~y~ -- ~~; ~' Ly+`,--~
<br />aARlAR,t.L BYDAI.EK ~ ~ '„a , ~ +~,/ ~,`~~t
<br />Ml47Mw.4-M~Mt10.1Nt ~?rv+ ,,, t. i„: ~ea_ _ ~;a,..,r
<br />Nc!sry i'ti9li.^ 1n ':and fur Said la,ar,y ~...._ -i Tae
<br />'~ I._ I ~~ M I { I 3
<br />1 ~
<br />N - y S"
<br />b ~ .
<br />a .:
<br />° ' m ~ i~ ~ ~ I ~ w
<br />99 Ii
<br />° ~ (4 t~YSI ~ ~ 1~0: ~ t i f m
<br />d F- ~ t- i `~ ~ c
<br />~ o _ ~, .~
<br />1 sg l .~~ °'e'i~t~~~ ~ ~ ~ c
<br />° (~;~SV'~L i~G ~~I'~S i ~ y
<br />~, : ~ i a
<br />v 7
<br />N 4. ~' .T'~"`Y--.....a_ it ~ ~ ~ u
<br />iu 1 ~
<br />~ _ -
<br />~ ~ K f Lid Y 7i ;~ M iii! _. f1!'N ... ., I ._ '~
<br />,~~•' ,off ~uaLUmo~ se pea~pu7
<br />
|