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{3) TDac in the event ahy awards are made to the Mortgagors or LDeir ~..e.,sd.s i:: SnLerast .cr taking or d~agic~
<br />b} the exercise o' eminent Qomaln the whole or a.-ty"part of the mortgaged. premises or any easement therein, the ~d
<br />awards are hereby assigned to the Mortgagee; the Hor tgegee Ss hereby authorized to collect, res_aive,-and receii;t
<br />therefor and to apply the same in payment of any Indebtedness, matured or urmlaLUred, secured Dy this mortgage: .
<br />(7) That in the avert Mortgagors default in the payment of said principal sum, or of any-insiallmant Lhareot. cr
<br />of aqy-interest thereon, at the tLme when the same sha21 De: due, or-wi th.respeet to any covenant or-eoadStion.Dera
<br />-bf, rhea, at the option of Mortgagee, the entire indebtedness secured liareby-shall forthwith become due ant payable
<br />shall bear -interest at r31e default rate. descrSDed.i[i said hate, and tha Mortgagee may immediately foreclose this
<br />mortgage or pursue aqy other available legal-remedy. -
<br />{:
<br />{8) That Sn the avert action Ss brought-to_IGraclose'Lhls mortgage, the Mortgagee shall De"entitled. to immediate
<br />possession-af the mortgaged premises,.and-the. court may. appoint a receiver to take possession of said pr~laee, with ) ~ _
<br />toe usual powers of receivers Lt like cases - -- - _ - - - - - ' a
<br />- _ ) .: ..
<br />(v) That fa11>:_re or delay cY Mortgagee to-eaerr_Sse any of Sts rights or privileges shall not be. caustruedas,a ' }
<br />waiver thereofr that nay act of Mortgagee waiving any specific default of Mortgagors shah not becniiatrued..es a -
<br />walvar of any _uture defaults; that in case of default Ln Lhe payment of auy amortization inatallments or-SntCi'est,. '
<br />or in-case of payment by Mortgagee of any lien, iudg;nent, tau, insurance, cost or expense, or-rents-, fens or-charges
<br />said Mortgagee shall have-the-privilege, without declaring the whole indebtedness dun and Datable;-: to fbree3ose on -
<br />account of such specific default for such sums as are in default and such foreclosure proceedings-may be4:D~4 a~td
<br />the land described herein may be sold, suD~ect to the unpaid Indebtedness hereby secured,. and"tDismortgage shall ° "(
<br />ccatinue as a lien for any unpaid balance. - - - _
<br />- {G) That the Mortgagee may extend and dater the-maturity of and renew and reamortlze-said-Sndebtedgesa, release
<br />from liability any party liable thereon, and rel case from the lien hereof portiobs of the propertg covered-heI'Eby,
<br />-wi thous affectEag the priority hereof or the if ability oZ-MOrtgagars`or a[Sy other party-for the-.payment of said
<br />indebtedness, all such axtensiors, defarmenes, renewals, and reamortizatlons to be secured"hereby. -
<br />(:1) Transfer of Security. Zt is agreed between the parties ~hereco, their heirs, legal. representatives. and ,assigns,
<br />thst the integrity and responsibfiity of *.he .Mortgagors constitutes a part of the consideration for the-note secured
<br />hereby, an3 that in the-event the Mortgagors shall sell, transfer, or convey tDe property-described heYeih-, the
<br />Mortgagee may at Its option declare the entire SadeDtedness immediately due and payable and may"proeeed'1n.the-en-
<br />----fbrcemeat--d. its r±ghts as on any other nefault 1.^. the terms of CDe-note cbdmortg~$e. -- -- -.
<br />(12) Assignment of ?roceeds of Mineral Lzase. Mortgagors hereby'~transter, set Dyer, and-convey toMOrtgagee al,i
<br />rents, royalties, bonuses, and delay moneys that may from time td, Lime become due and payable under apy'-oil-,-gas.
<br />or other mineral ;ease of any kind now existing ~r that may hereatterl come Into existence, covering the above land
<br />br aqy part therecf. Ail such sums.'so received by Mortgagee shall beapplled tb the indebtedness secvred-hereDyl--or-
<br />aald Mortgagee may at Sts option tu.^n Dyer and.de liver to the Mortgagors or their successors is interest, any or a}1-
<br />-of such sums without pre,)udice to eqy of Mnrtgagears rights to take~~~and retain Ldture sums, and w}thoiit pre~udice-
<br />to any of its ether rigD~s under tills mortgage. The transfer andl cpn,veyance her=under to Mortgagey of said. rents,
<br />rcyalcles, bonuses, and delay moneys shall be ronstrued to be a p[{ovlslon for. the gayment or reductionlof the mort-
<br />gage tlebt, su63ect tc the Mortgagee tis option as hereirbefore provided',', ~. independent oY the mortgage itch '~.on said real
<br />estate. Upon payment in full of the., mortgage debt. and tha release ~iof'~, yhis mortgage of record, this conveyance shall
<br />become inoperative and of no Further Porte and e?'fect. '
<br />(aor3s and phrases herein, lac lading the ac know; iedgnent iaE roof, shatZ be construed as in the singular or ¢tumZ
<br />nx.°bers and as rtascutine, fextintine, or.neuter gerxger, accard ira to th~rcortext.) /-i
<br />{SEAL) _ '~G`ZG yG'CI U „~~l~.vfi7~~yf.~7cgAL)
<br />Lawry E. Niemoth~
<br />Darby Ac Niemoth
<br />SEAL)
<br />s~rj~;;
<br />;SEALS (S€ALS
<br />STATE- as lt+~~~1 ~"~'
<br />- - ss' ~ ~ ss.
<br />~~~
<br />Oc this car day of ~.. :~.. U., 19 'C ,before n°, a Notary Public in and for Bald County snd
<br />~ -.
<br />sense, personally appeared Lawrence E. Niemoth and Darlene A. Niemoth husband and wife
<br />~'
<br />4 'I
<br />to me known to be the persons named In and who executed the foregoing '.ns framers, and aokrowladged that they executed
<br />the-same as their voluntary arc and dead.
<br />My commission expl:~as ~'s2c/ ~ ,:.3 ~'2
<br />~~ ~~i
<br />- NMi1ow~OP~90./6~i
<br />(SEAL)
<br />t~¢~,r~1~6- v t'^1"G'-t rot
<br />STyp~ o, pint game u„at.:tyaa;~~ei
<br />Notary Public in and for said County and State
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