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O ~ + • + • ~ i j 8. vnc~ default ia? tbs pe~focaamos af c6s ooMenwb aod .~+eea~eocs oE tbb mo~a~a~ tbe mo~tg,~$as th~li lie eneitkd to odbct tLs raab„ isnia aod p~ofits ban tbs premba bereinbefa~o dacti~ed, but !a a~s af a dehult in aiay of tbs tetmr af : tl~b moit~ga~, ~nd tbs oE a bII eo fa~eclas th~ a aay otbe~ a~o~a~s ~onm~bedng tbs witbia de~ceibed praperty. d~e ; ~ As~odatioa sb~U iaamed~a aad notioe bs eatkled to tbs ~ppolnm~t oE a Recxlv~a of t6e ~matBaSedpe~op~ty. and ' , of-tbs raab, i~ aad tlbreo~ ~vtth tbe uwal~owat of Reoeiv~e~s !n s~ch ca~e:, snd such Recetva~r may bs-ooatiaued ; in passenioa af ths svd p~tp uatil tbe ttme af dis sale thereaf under su~b foeee~osura, aad unttl tbe coofirrnatian of such : mk by ~e O~ ~ i 9 lf • oon~eyance should be made by tbs watgaga~s af the pe~es bereln dasadbed, oc any part thecaof, witbout i the writtw oomait af the As'ociation, aad witbout assumptioa in regular fonm of 14w bp tbs gr~ntee oF tTie obligations to the , Assodation createdby said ~omis~y note aad tWs mo~~tgage. thaa, and in tLat eveat~ and ~t the option of tbe Assoeiation. ead ~vithout notioe, all swns of a~aaey secured Lec+eeby sbaD immediately and sonaucentlv with such coaveyance beoome due and i I'~Ysble and in debuk. Tbs Assoc.3atba may deal with snooesso~s in interest wttb referenoe M thN matgage and the debt l,erebp ~ - secvred ia the same a~uaer at wath tLe moctgagoes. and znay Ea~beu to sue oc a~y ~tead Haae fac payme~?t of tbe debt~ sec.~ured hacby, ar otherwa~e act wttbout a ia u,y w~?y affecttng the ltabi}ity af the a,oetgaga: beraundar ~ upoa ths debt Ix~by s~urd. 1l~e R.s~oc~atim maa~~deol a?!t~ the Mortgagors and,/a wtth su~ooesao~s in inte~st with refereocb to th~s mortgage and t6e debt hereb sacund by focbeartng ~o sue, mcta~ding tbe tLae fa paya~~t of the debt, lx~o~vidin8 foe difkrent tbe ~At~o I~u aver othar matgag~ ~es~ ae bokkrs~r any~funioc iatarosts in the Pr°P~y ~secured benby~y ~h' 10. 'I1~at in tbe eNeat the preaiises her~eby a?~atgag~d, or any p~rt thereof, shaU be ooade~nned and takea for uae under tbe power aE Gmineat donaain, tbe Association all bsve tha r~ght to detnand tWtt alt damages awazded fac tbe ~g of ~ ~ damages to said p~+e~ni~es :hall be paid ~o tlre AssocTat[~on, its ~ors or assigns, up to the amount uapaid oa this mo~tgage and may be applied npon the P~Y~~ ~ WY~~ Lat p4yable thereon. , 11. It is speclficxUy ag~eed ihat ttme is tbe ~ce of this ooatract and tbst ao w~iver of aay obUgation lxxaroder or of I d~e obligatbn secured Lereby sbaD at any time thereaRer be held to be a waivar oE tbe tria~s a oE the i~bnm~nt aeciured hareby. ~ 18. If faredosune prooeedings of any seoa~d e ce~ seoond tn~st deed ar aay ~unior lka oE any ktnd :bonld be i~ti- tuted, the Aasodatfaa may at Ns ~ immediatelyp or ~t~+~ftec declare this matgage 4nd die indebte~ sec+ued hee+eby due ~ ~ 13. To d~e ertent of the indebtedneas oE the l~i to the Assoctatfo4 dbsc~ibed he~rin or soc~ued Laeby, tbe As~o- • sc~ ~ ctntion js ~y subragated to tl~e Iien o~ lkas snd to rlghb of tbe o~vners and hoiders thereof oE eacb aadevery ~t8~8°• . lka or othr en~unbrauoe aa the land descxibed ~etn which is paid aod(a) sati~ied, ~ whob ae ia part, ont oE the~~ of the ban desaibed heieia ot sec~~ted and the lie~s o[ :aid ~'~Y. ~ ~SgB~• ~ ae ott~er encumbranoe,s~ ~ to and i~e held by t6e Assocation Lee~dr? as ' far tLe indebtedness to tbe Aasociatiou bec~ein de~cribed or hareby secure~ ~ tbe same exteat thst ft vvould hav~e been pan~ a~l would have beea ~assed to wnd been held~ the Associatioa 2~d ft beea '~Y ~~~Y set o~nar and ddive=+ed unto tbe As~ocjrtioa by sep~rate af auigament, notwithstand- ing the fact that tLe wne aasy be satisfied and conoelbd af reeoni. it beu,g the intentjau af the perties l~+eio that the same w1ri be sst~Eied aad canodled af rec~o~d by die bo3dexs tbueof at ar about sbe ttrne of tbe reoording of d~is nwrtg;aga 14. To pny all and ~in8u~ ~~8a, ~~8 ~a'Y~'s ~~incu~red ac pai~id at any , time by the Associatiao, because oE the kilure oE tLe I~~u:tgagors to pafam, oanply wFth arrd ablde each and avery sHpula. tions. ag~~emenb, coaditioos and cavenants of said promisso~y note and d~is deed, as either. and every such pay~~t s6al! bear int~st fiao a.ce at tbe race state~l ;n che noce sac~~ca bec~eby. 15. That he w;ll commi~ a suffer no waste, fmpainnent, a deterioraNan of said peopaty ar any part d~eof: and in t6e event of the of the Mortp,~gors to kcep tbe buiWfigs oa uid aad tLose to ba e=ected_ oa said p~anises ~ « r~ ~a ~ ~y ~ ~a ~.y ~ ~ . ~ ~a a~ n ~y a~ ~ ~ ~ ~,a c~ ~,n ,~,r ~ ~ p.y,~„~ ~,.n~~+~a by ~ ~ ~ ~ ~«c~.se ~it the optioa d~ ~tioo be immediately due and Pa3'abk. a PaYabb in s~ moathl~' instaIla~ents as tl~e Assoc~a- tioa may determine, and every wch paymeat shall bear ~nta~eat fmsn d~te at tbe nte shfied in tLe note secnred hereby. ~ 18. lbat if tbe Associati~on sad tba Matgagors ag~ae, the Matga ect wil! cany a~o~i~y a: p~ of ins~uanoe npon their liv~es in an a~leunt equal from time to time to the amo~nt af ~ beneby ~ec~ecl. makjng said Associatio~ bei,efi- cisry there~u~der, and that the sad Assoc;ation mayp~y the poemiums foc wcD in:uranoe (in dte event tbe Mortgagars do not). and add eacb wch payment to the un balance of the loaq as oE t6e fuat day of tbe tbea csurent a~outh, and it shall becozne additi~al ~eb~d~ secured bY ~~8~ P~Ys~ ~ ~ 17. TUat ia the ev~t that thia matgage be g,tv~an tio aecnre a ca~sdn~Ian lo~n, faIIure an tbe p4rt af tbe Mortgagon or their condaetas to compkte snid b~ild'mg In aooocdaaoe vvith C~o~etion I.oan Agrota~t, of ~ven date hea+ewith, or to bu~d ~ satd eonstruetion io aoeordanoe witL p~ans and specaficatto~s ffled witb the Assoe3atioa, shall eonstitute a 6~+eaeL of t6is moctgage, ~ and, at the optioa oE tl~e Assoeiutioo, immediately maturo the eatice anao~mt of prindp~l and interest heceby secured and the Asso- ~ 'cis~tion aay irnmedtiately instltute prooeeding~ to•foreclose th~ mwrcgaga - ~ 18. Tbat the aba~tract ac abstracts of title oov~erir~g tbe aiortgaged pe+npeity sball at all times, dwing the life uf thi: moit- g~ge, remaja in the poas~iou of the Associatioa ard ia the evwt of the fora~os~u+e of this m~atgage oc other traasfer of title Lo ~ and to anby s~i~c.~h a~ of title s~posst to tLe p~ur}~as~ a~ ~y' All right, titk, and inte~st af the Mortgs~gas in ~ 19. Tf~e Asaociatio~ shall bave the right, ia its d~sn+etia~. M requhe d~at-the Ma~rtga8as psY tato the Assoelatioa in sddi- tioa to the monthly iastallaser,tr of pr3ndp~1 and inte~at to be paid by tbe Mortgagon wuk~r the note :ec,u+ed by this mactgage, ~ an amount equal•to o~e-twelfth af tbe annual in~allmeats o£ any taues on the aged p~nises kvfai or a~ssed by ~ny govemmeatal autbority~ snd ~e-tvvelEth af the annual pc~amt~s for Fire and F.xt~cs~ided Caverage insuranoe tbe matga8ed p~etnises as t~ereinbefare required by tl~e Association, aad tLe Mortgagors' failure to tnalce s~ch pstymenb sbaII cQnstitute a dehult u~1er this matgage. . . - : . IN WITNF.SS WHEREOF, the aaid Mortgagoes be~mto ~t theU bandt aad seals tbe day end~ year fi~st. above written. . ~ Si~aed, sealed and delZv~red in t6e preseaoe of: ~ _ ~ ..._.(SEAL) Fl y~d E. Braatz . (sEAL) ura P. Braatz ; } ; _ . • . . . _ . ----_j_ . . : - (s$~r.) ~ - nr+~as~ . . . ~ _ ._._(sEAI,) . ~14Q : ~ . . ~ . 93 r~c~ ~t . .