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" ~-y )the exercise afveminent dcmain the erncletor .he M,artgagars cr their s eces rs in interest for taklrlg or damag rig
<br />any' Part bt
<br />he mort
<br />a
<br />d
<br />,.
<br />g
<br />g
<br />F emises or aqv easement therein. the said
<br />awards are hereby assigned to the Mortgagee; the Mortgagee is hereby authorized to cbllec t, receive, and receipt
<br />t
<br />Cerefor and to apply Lhe same Sn payment bt any indebtedness, matured br >.~uaatured, secured by ttris mortgage. -
<br />(7) That ir, the event Mcrtgagors d=___*ault in the payment of salt principal sum, or of any installment thereof
<br />or
<br />-
<br />,
<br />of any
<br />interest thereon, at the time vrtren the same shall be due, or with respect to any covariant or condi
<br />tioh -here-
<br />.
<br />of, then, at the option of Mortgagee, the entire indebtedness secured trereby shall forthwith become fine and payable
<br />-
<br />,
<br />shalI Sear interest at the default rate described Sn said note, and the Mortgagee may irtmediateiy foreclose thin
<br />mortgage or pursue ahy other avallaDle legal remedy. -
<br />(s) That In the event action is brought to foreclose this mortgage, the Mortgagee sha21 be entitled to immediate
<br />possession of the mortgaged premises, and the court may appoint a receiver tc take Dossessien of said Dremises, with
<br />the usual Gewers oI receivers in like cases. -
<br />
<br />(S) That tai lure or delay of Mortgagee to exercise any of its rights or privileges shall not be -construed-as-a- e
<br />~
<br />
<br />waiver thereof; chat aryy act of Mortgagee waiving any specific default of Mortgagors shall not De conserved as a _
<br />~ ''
<br />.
<br />waiver of cry Suture defaults; „hat in ..ase of d=fault in the payment of any amortiaation installments or interest;
<br />i S?~- -
<br />or
<br />n case bt payment Dy M,ortgagee of aqy lien „judgment, tax, Insurance, cost or expense, or rents, fees or-charges
<br />said M
<br />t
<br />l Z~"'
<br />,
<br />or
<br />gagee sha
<br />l have the pr±vileg=, without declaring the whole Srdebcedness due and payable, to foreclose on
<br />a
<br />t
<br />f
<br />ccoun
<br />b
<br />such speclllc tlefault for such sums as are in default and such foreclosure proceedings may be-had and
<br />r ~~~ -
<br />he land described hersin may be sold, sub,j ect to the unpaid Indebtedness hereby secured, and this mortgage shall
<br />continue as a lien for any unpaid balance.
<br />(i0) That the Mortgagee may extend 2nd defer she maturity of and renew and reamortize said indebtedness
<br />release {
<br />,
<br />,from liablli ty any -arty liable therecn, and r=lease tram the 11 en hereof partlbus of the groperty covered hereby
<br />t t
<br />,
<br />wi thdut atferting
<br />he priori cy hereof sr *_t;e liab 111ty of Mortgagors or any other party for the payment of said
<br />indebtedness, all such extensions, eefer merts, renewals, and reamortizations to De secured hereby.
<br />(11) Tra*lsfer oI Security. It is agreed between the part! es hereto, their heirs, legal representatives and asslgls
<br />,
<br />that the integrity and responsibility of the Mortgagors ccrstStu tes a psrt of the consideration Zor the note secured
<br />'
<br />hereby, and chat Sn the event the Mortgagors shah sell, transfer, or convey the property described heroin
<br />the
<br />,
<br />Mortgagee may 2t its option declare the entire SndebteCness immediately due and payable antl may proceed in the-en-
<br />_.drePmont of its ignts as en v of*,er def3u.~ ~„ „he „ors of tY,e Hate and mortgage. - - - - - -,~-
<br />012) Assignment of Proceeds of Miuerai Lease. Mortgagors hereby Y,r`ansfer, 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 ell
<br />gas ~-~I. ~'~
<br />,
<br />,
<br />or other mineral lease of any kind now existing or that may hereafter come into existence, covering the above land
<br />~ 3 '"'
<br />~
<br />rr
<br />agy part thereof. All such sums.sn received by Mortgagee shall be appii ed to the indebtedness secured hereby; or
<br />said Mortgagee may at its opcinn tort. over and deliver to the Mo
<br />^tgagdrs or their s
<br />e
<br />i ~
<br />i"~
<br />.
<br />ucc
<br />ssors
<br />n interest, aryy or all
<br />of such snms without prejudice to ary o_* Mortgagee ~s rights to take and retain future sums, and wl thout pre
<br />j udice
<br />
<br />~~~~
<br />,
<br />to any of its other rigirss andor this mortgage. The transfer and icnnveyanco herP,ulder to Mortgagee of Bald rents,
<br />royalties
<br />bonuses
<br />a
<br />d del ~ i,
<br />,
<br />,
<br />n
<br />ay moneys shall be construed to be a provision for the payment oi, reduction of the more- ~
<br />rage debt, subject to the Mortgagee ~s cation as her_inbefore previdad. independent of the mortgage lien on said real
<br />estate. Lrpon payment Sr, full of the mortgage debt and the release of this mortgage of record, ch±s conveyance shall __
<br />Cecomo iroperatn~e and nt no further recce and effect. i
<br />iNOrds and qh*asas he+e irz, i^.c !w: inA She ac knew lodgment he -zo `, slta!Z he cons!+ued as in the stirouiar or plurnl
<br />~ ( `
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<br />r_:aehzrs ¢rrd as ricsculire, femini.nE. or n?ure> gend,e+, n^rorc ting
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<br />(sent) ___ s
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<br />^I•fyrn
<br />Laute hlager
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<br />Ii ~, ,9 Mars~ia A I~utensc ager
<br />5ATe Or '%s,k t~~"2i
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<br />Cm thlx~z
<br />day of
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<br />ore me, s Notary o;:btic in and f.,. s;r! ~ ,;ounty and
<br />i~
<br />state, personally sppeared ~ Lynn C. LautenschlaQer and Judith A Lautenschlaeer, husband and
<br />wife; and Myron J. Lautenschlager and Marsha A Lautenschlaaer husband and wife I
<br />Ur me known to be t:he persons named In ar,C who executed the fcrvgolrg instrument, and acknov;ledged that they executed
<br />fife same as their voluntary sct and deed.
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<br />M,v commission expires ~~+RC ~- /~y %f~f~-_ _ ' i ..z.cf ?~.~-y.. r-<..i~
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<br />~~, ~. !Type r pr in! na un r s gnat ore)
<br />~q~,pp.iMeh10.1~ Notary Public in anA for said County anC SLae
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