I tested the update first on a dev site and all seems good.
First I updated any modules that needed security updates. Then cleared cache and did a updb.
Ran drush up drupal
Then the patches - field_hook_presave_and_load_for_default_values_1.patch and formatter_weight-1982776-29.patch. I didn't run the one for setting.php since that was already patched from when diems was installed.
Since 7.50 now warms about missing modules.... I installed the leaflet_popup_outside and module_missing_message_fixer to fix the other one that it complained about ( it was a feature that I had made at one point).
Now time will tell if anything is broken.
Jim