|
~g} TDa in she a~ ent any awards are o to rite no tgago s -.r r*e' st s s » t :sr rag r da^~3T1 E~g
<br />D~ ..Ste exa^clse of es~,.nent dxtain Th<3 wi+o r o cry part r L.*._. -u~r,.g-z ^ ,, - any - r ..-_Pr 1>z ~*e rl 1d
<br />ate'-,'.s ar'c he:~3a~ assi~ie3 t6 the ,`.~~ ,.ga: ,,t,a !So:'tga~Ce ins hereby au,'~,. 1.._-_ „r^ ..'313. _ _,ci ~. _. ~t ..,ip+:
<br />therefor and to apply the same Sn payment of :sty 2rtdebtedrMSS, ;retuned ca• ?1^^..ats~red, secured 'Dy t_nis rncrtlraa;e.
<br />(7}- That 1n the event MortgagOr-s d8fauit in the paya!ertt of said principal arse, ar ci any ins>'~ilP-72Ytt thereof rir
<br />o_r arty 1nLfirest thereon, at the tip when the same shelf be due, er wlLi: respe+~r_ t- airy covenant nr condition here-
<br />of, LDen, at the npticn of Mortgagee, the entire indebtedness-secured hereby shall fnrthwit:: beccme ;, °~d payable,
<br />s01a11 bear LnLeresL at the default rate described in said note, and the norLgagee may ins~ediately foreclose phis
<br />aortgage or pirrsne ar~r other avaliable legal reme4y.
<br />(g}- ?hat in trio event action is brought tc foreclose this mortgage, the Mortgagee ^,Dal1 be a~+tltled to immediate
<br />possession of-the mortgaged premises, and the cotu•L may appoint a receiver to take possession of sal, premises, with
<br />tihe usual powers of receivers In like cases.
<br />(9 Thal failure or delay of Mortgagee to exercise any of iLS rights or privileges shall not be construed as a
<br />waiver thereat; that any act of Mortgagee waiving any specific default of Mortgagors shall not be construed as a
<br />w8lver of any fut4'e defaults; that in case o_* default in the payment of any amorLizatlon SastaIiments or interest,
<br />or Ih ease of payment Dy t~rtgagee of ar>,y lien, Judgment, tax, insurance,cost or expense, ar rents, Sees cr charges,
<br />--said Mortgagee shall have the Frivllege, without declaring Lhe whole indebtedness due and payable, to forceless on
<br />-aCCnunt of .such specific default for s+,tch sums as are in default and such foreelasure proceedings may De had and
<br />the land described herein may De acid, subJect to the unpaid SndebtecLness hereby secured, and this mortgage shall
<br />continue as a lien .'or any unpaid balance.
<br />(14j That the Mortgagee may extend and Oster the maturity of and renew and reamortize said indebtedness, release
<br />Srom liabiliry atky party liable thereon, and release from the lien hereof portions of the preperty covered hereby,
<br />without affecting Lhe priority hereof or the liability of Mortgagors or any other party far the payment of said
<br />indebtedness, all such-extensions, deferments, renewals, and reamortizations to be secured hereby.
<br />(11} Transfer of Security. It is agreed between the parties d:ereto, their heirs, legal representatives and assigns,
<br />that the integrity and responsibility of the Mortgagors constitutes a part of the consideraLlon for Lhe note secured
<br />hereby, and Lhat in the event the Mortgagors shall sell, transfer, or convey the preperty GescrlbeC herein, the
<br />Mortgagee may at its option declare the entire indebtedness immediately due and payable and may proceed in the en-
<br />forcement of its rights as on ar>rv other default in the terms of the note and mortgage.
<br />(12} Assignment cf Proceeds of Mineral Lease. Mortgagors hereby transfer, set aver, and convey to Mortgagee all
<br />rents,-i'nyaities-, bonuses, and delay moneys that may from time to time become due and-payable under any nil, gas,
<br />or other mineral Iease of any kind now existing or that may hereafter come into existence, covering Lhe above land
<br />or shy part Lhersof. 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 and deliver to the Mortgagors or their successors Sn interest, any or all
<br />of such sums without preJudice to any of Mortgagees rights_to take and retain future sums, and v+lthout preJudlce
<br />t0 aqy of its other rights under Lhls mortgage. The transfer and conveyance hereunder to Mortgagee of said rents,
<br />royaltles,.bonuses, and-delay moneys shall 6e construed-.to-be a provision for the payment or reduc*..ion of the mort-
<br />gage debt, subJect to the Mortgagees option as hereinbefore provided, independent cf the mortgage lien on said real
<br />-estate. Upon payment in full df Lhe mortgage debt and the release-of this mortgage of record, this eonveyanee shall
<br />become SnnperatSve and of no further force and effect.
<br />(Yords andghrases herein, including the acknowledgment hereof; shall 5e- torts-trued as irz the singular or plural
<br />nvafrers-and-as masculine, ;e+atinirte, o-r neuter geode+, attending t e anyt/'ext.)~ ,¢/~(/
<br />(SEAL} ~ `"~`~~Yle E. Herders (SEAL}
<br />(SEAL ) JCS 1 ~ v IIai~rS ( SEAL }
<br />(SEALI (SEAL}
<br />(SEAL) (SEAL)-
<br />STATE 4F ..~-'~//~~s +ty -
<br />COUNTY 4F_.rA/t ~as•
<br />c'kt this ~ Z , ay ~~ ~ e~~fc r _ . ny.D 19 `frl. Deface .., _ Notary ?.:Dliv' ... anal for ..aid Lount,. ana
<br />State, personally appearaG
<br />husband aad wife
<br />Go me knovm to be Lhe persons named in and who executed Lhe-IOregoing instrument, and acknowledged that they executed
<br />the same as their voluntary ace and deed.
<br />My commission explrest?6r»urv G_ J y~~
<br /> ~.
<br /> C
<br /> Q
<br />
<br />
<br />
<br />
<br />
<br /> C~
<br /> O h 4
<br /> N ® _ ~
<br /> r-1
<br /> ~
<br /> Q. _.
<br /> w-
<br /> u ~
<br /> ~ t ~
<br /> a rw
<br /> '+' z ~
<br />
<br />
<br />Y
<br />A
<br />O M
<br />M N ~
<br />..r ~ a
<br />G .,, ~ Y
<br />H =
<br />vtl A b
<br />O.
<br />u
<br />rmd
<br />/'~~1
<br />b
<br />fl
<br />G
<br />4
<br />O
<br />3
<br />G
<br />W
<br />1 g.
<br />~o
<br />~e _
<br />~- r
<br />C3 ~
<br />..~ :r .CC ~r
<br />hype or print name unaer slgnatu el
<br />Notary Riblic In and for said county and State
<br />1 p~ 1 ~ P
<br />m
<br />N .-1
<br />~
<br />u
<br />
<br />x
<br />N C
<br />
<br />~
<br />C
<br />~
<br />..
<br />.
<br />i.
<br />~
<br />{-~
<br /> 4 ~~
<br /> 0
<br />d
<br />R: -
<br />+
<br />~
<br /> u
<br /> L n
<br />.Y G ~ ~
<br />
<br />a~ ~
<br />`
<br />
<br />_.
<br />I
<br />r ^
<br />~1
<br />
<br />m
<br />R
<br />cs ~ If
<br />'
<br />~!}
<br />4
<br />
<br />'
<br />~
<br />F
<br />t t
<br />E
<br />
<br />i
<br />
|