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<br />(8) T17at Sn the event any ewards are made co the Mortgagors or [he;r successors In interest Sor taking or damaging
<br />by Lhe exert SSa of eminent 6omain the whole or any pa1•t of tY,e mortgaged premises ur any ^asement therein, the said
<br />awards are hereby assigned r,o the Mortgagee; the Mortgagee is hereby authorizetl to roliect, receive, and *eceipt
<br />therefor and to apply the same Ln payment of ar>,y Sndeotedn?ss, matured or unmaCUred, secured by this mortgaKe.
<br />(7} 'Phat in the event Mortgagors default In the payment of said principal sum, or of a_ny installment thereof, or
<br />of any interest thereon, et the time whet. the same shall be dua, or wl th respect co arty covenant or condition here-
<br />of, then, at ^SSa option pf i:artgagea, the entire `ndebtedness secured hereby shall tarthwl th become dua and psyaDle,
<br />shall bear in tprest at the default rate descrtbed in said note, and the Mortgagee may 1!mnediately foreclose thi3
<br />rrvrtgage or pursue an;,r other available legal remedy.
<br />(g} That in Ghe event action is brought to foreclose this mortgage, Che Mortgage? shall be entitled to immediate
<br />ppssesslpn of tale mortgaged premises, and the court may appoint a receiver to take Dossessian of said premises, tvi Ch
<br />the-usual powers df receivers in like cases.
<br />(9? That failure p: delay of Mortgagee to exercise any of Its rights or prlvl loges shall ^ot De construed as a
<br />waiver tGeraof; that a[ty act bf Mortgagee [valuing ary speciric default of Mortgagors shall not be construed as a
<br />~~iver of any fxUtn'e defaults; that 1n rase of default 1 the payment o:° any emorLizatlon installments or Interest,
<br />or in case of payment Dy Mo..^tgagee cf any Liee, ~udgmen t,~tax, insurance, cost or expense, or rents, fees pr charges,
<br />said fie^tgagee shall have Lha privilege, wi thou[ d?daring tY:e whole Snde6 t?dness due and payable, to toreclose on
<br />acca,lnt of such specific default for such sums as ate In Se fault and such foreclosure proceedings may Da hatl and
<br />the land described herein may be sold, suDJ act rc !.h•^ .:npa Ld Indebtedness hereby senrred, antl this mortgage shall
<br />continue as a lien for any unpaid balance. '~.
<br />{16) That Lhe Mortgagee may extend and defer tt;e maturl ty at antl renew and raamortize said .SndeD redness, release
<br />.1'G`r:i liab 111 ty any party liable *_heraon, and release from the lien hereo* portions cf the property covered hereby,
<br />.wt Chout affecting the priority hereo* or the 11 aDll1[y of Mortgagors ar any ether party :or the payment of Bald
<br />i..^.d?btedness, all such extens!ans, ~afermerts, r_=newels. srld reamort; zations co t,e secured hereby. ~
<br />(lij Transfer dI Security. lc is agreed Dz Cween the parties Here t.a, their heirs, legal representatives antl asslgtls,
<br />that Lhe integrity and responsi D111 ty a,' the Mortgagors ^onstltu res a part of trio coaslderstlon for the note secured
<br />hereby, and that Sn *.he event tn? Mortgagors shall sell. transfer, or ^snve} the property described herein, the
<br />Mortgagee may aL 1*_s dptlan declare the an~i~e 1ntleDtedress Immediately :ue and pay able and may proceed to the en- j
<br />faremant c=" Sts r'_ghts as er. ar>y other default in the terms of *.he reto and mortgage. ~
<br />{>~) Assignment of isrdeeeds of M!neral Lease. Mptr gagors hereby transfer, sat .peer, and ccnvey to Mortgagee all
<br />rents, ray aloes. Donnses, and delay moneys that ~=,a•; 'rcm r'me to time b?come due :red payaD le ~W.der sty o11, ass,
<br />pr atrer miberal lease of a:•yy kind nc:v existing :~ .;st may sereaSCer come !nt~ =xiscerce, :~ovPring the above land
<br />or ary part thereof. All such suss.^^ received Oy+Mrtrgage? ehali oe scpL'ed •~ the ~dabtadness secured hereby; or j
<br />said Martgagee may a Sts cptien 'urn c °r and d=liver t the Mbrtgegers !.heir ;uccassars :n interest, arty or all
<br />r rh me ~s tn~„ ^r~~„n•~° ~.. ~~ ..,,...,. .., r',.... ,... _r__.
<br />°- s" ` _-. ... .. .,e - .•:,.~ ^ ~ ~ ~ to - sur and without pr?,7 tame
<br />td any of its a Der *r'gD. ° urd•rvthis r!art zage. 5 :'h e~~rarster an.. -~.,veyanc ej nor --n - .o ~gagae et said rents,
<br />'at .n^ ,r
<br />rayal Lles, Denuses, and delsy Bpneys sD ill ! ^eas trued r~ be ~= provi slap payment,:, reduction ^* the cart-
<br />gage debt, suD~apt to the MDrt.;°~aa ~s o<<L2 cn a~ hereinDefere -~r^vtda^, indeperden[ :+:ortgage ilea on said real
<br />estat.a. 1pc2 pay;rert in ..°uL' ~ct CG' ..~ortgage debt and *. he rnlcase _,f this mpr[gaKe c_ ._~_. ~, tnSS cem•eysnca shall
<br />Depom? Sncperatlve and of ~ Nr*_har fnrre and affect.
<br />IYO-Ls aai rrh.aset `xerein, ;. *ic s,:3zs~- sAe as knt~;t~d~ea M,S he roc-, ;la:i! [e :orz,',nod :_ ., tAe s±nsuYar or IDdsret
<br />macCers cn: as aa;exi tre, 'ecirinc, ar na u.te* r'?^-~z-. ..~.^-di^F '- t,.E :.,.cert. V .
<br />Belinda K. Tibbs
<br />,: _.,,.. SEAL; ,
<br />~ .z~,._~ (SEAL?
<br />'~¢
<br />~ r._a day -.r "` '~ ,° .._ _-.~, _.. _ ^E ,.. ..~_. _.o _ _ ._ _aun~, ~~,.
<br />5t~ce_p?rsen~lly .rr -at~n Timcathy J. Tibbs aad deliudu k. Tibbs ht:s~ard and ::if~
<br />tp me taes~n to be tDe Fersaz~ ea.~ ~..,. 1 x °... ~~ :~, ...__^~:~nt. Kr-a ~~_:, at rG=j axecvlcaC
<br />the lama as t,*eei^ .e:u:taty ~~._ ._,_ ;ee~.
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