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~ . ~ Uata deiae~]t i t1~e ~ af dr ao~b ~od a~een~ts vf tbita~o~ tLe ~oet~
{ ~o ooieot tlM reob. La~a aed p~o8h iro~ dM pamira~ heniobetors daa~ed. bk la ow of s d~fiWt is ,
i tld~ sa~t~ge~ ~ad tbs ~ vf s bOl to ~o~eclas t~ a~r otbae ma~~s eaa~ t1M wltbis dao
? At~od~tioa tb~11 a~d wltboat aott~o~ bs a~titied ~ dis cf a A~eoeiwe vf tbs b~oeq
oE d~e reat~, i~e~e~ and d~aoo~ ~ritD d~s uswlpo~ af b snob aa~ar aad such aeoeiva
~poueaioa~ s~W propatr n~ti1 t6e. tlws aE ths ~als tLe~eof uxloe ~nc6 taedoa~ aad na~ dis a
~ If s v~r~oos ~hould be m~dsb~? tbs moetg~~ af d~s preaabe+ h~aiu dao~ea. a~ aa p
tbe ~?ritoen ooo~ant~ oE the As~oci~tba. ~od vvitGoc~ ~aanptioa tn reauLr fonu af ~aw b~? the ~ca~ee ~tir
Assoc~atbn a+aeed b~? said p~+oa~iaory no~s and ddsmo~t~g thea, and in tLat aNeat, aad at tbs apt~on
no s
~ .+wd witliout uotioe~ aR w~ of mc~nelr ~ecrned herelry sb~aIl ~aloomaediaEely ud coacurr~? witL suoh ooavaya~
; payabie srd b dakuk 1bs A~oc3atioa ma~r ae~l witL wooaa~o~s iu in~t ~D re[era~oe ~ thi~ mo~t~s
; ~ in tLs sams a~ with tLs m«t~oas, sna mar fabeu to we ar m.y ~cena tlme foc r~ra~t
i ba~abq. a o~bs act wrltba~t ar in au~r way affactmg d~e lisbil~ty af d~s ~ ba~e+a?di
u
l~ereby seceu~ed. T!a /Wodation may dal wl~ tLs 1[atgag~as a~d/a w?~tb wooes~oa in i~erest wl
aod d~s debt h~a~ bY fa~bear~ ~ we. ~tandiu~ the tioae ta papa~ait af tLs debt. Pr
and,/ac a ~terest ratq, ~dby ot~er ~preu mai~atioa~ of.the ooatrae~ wkho+
~~~~PwY~
t6e A~o~tion I~ oMar other awdga~eet c~ liena~s a Lo~ders oE aay i~miar iotae~ew, in tbe propa~ty ~a.~e
~ 10. '1'~at in the eMeat tbs p~emba h~rebp a~~~ged. a anY P~rt d~ee~eof. d~aII bs ooadaanned wd
~ ~m~kr t6s powar oE anioait doma~a. tbe As~oci~tinn ~ have tLe rt~?t m deao~ad d~tt aIl dam~ga awar~ki
' ~ ~tp s~ld pee~ni~e~ shaII be paid ~o tbs As+odatioo; ib suooeWO~s a a~ np to tl~e amotnt mpaid c
' ~ i ~ay 6e 4pplied uipon tbe Paymart a~ Pa~ents L~t P~3'abls d'°i'°°". •
~ 11. It is ~ecifiaDy? agmeed tb~t tbne is d~s eseeoae af d~i oontract and t~t ao ~raive' cf any obUga
~ tLs obi~atjo4 sea~c~ed bae~ebp ~ait st ury tfioos d~ee~fbec bs bsld to be a waive~ af tbe ~ee~oni a af die iatrm
a
14. If faredowre pe~ooeediog~ af~ a~+ ~eoo~d oe seoond trost deed ar ~mp ~onio~ 1kn oE an~?
~ c~a, a~ ~.~m ~,.r ,?c ~ ~ah?'~x a«~ a~. ~.~.~a ~ ~
; .oa p.~.bte. ~
j 13. To tbs extent of tbe indebtal~ of d~s ~[a~gago~s ta tbe Asrodatfas de~a~ed bereia or secun
datian is barebp mbe+o~ted m the lieu a liam aad ~ tTie ri~ls of tbs o~wa~s and hddas tLee~eof of ach
1 ~ea a afher eac~m6eaaos ca tbe ~and da~a~ed h~e~ein whkh fs p~td aad(a~t s~thHe~, in wl~ak oe in pa~t,
{ . af tbe lo~n d~bed hae~Ln or secuc+ed be~+eby. and d~e ~ectlv~e ba~ of aid ~.ar ot~er eocr
ta and be haW by d~e As~oc~attan berein ~ fa ti~e indebta~u ~o d~e A~a~n hereW da~ciied e
1 . the maae mctent dnt k~rouW Lav~s beaa pr+~ aud w~W bave been pa~ed ~~ad been bdd_ b~? d~e M
~ d~ aad r~uL~y a~ed. dan~esred. ,ec av~ec sod deuvaeed ~?bo d~e Aaodaaou by? sep.ra~s deed af atd~
~ ia~ t6e bd dat tbe same may be sathfied aud anoeDed of :~eoad, it bdng dis ia~e~io4 af dis part~es Dai+sl
be a~tLged aod c~noeUed of reoo~d bp d~ boldess tbaeeoE st a~ abo~d tLe tims of tLs reoo~d6ra af thit ma
' ls. To p~Y aA aod singnhs the oost~ cb~r8a+ aod eacpeasa ~ hwy~s feet, ri~locu
; t~e bry? the A~o~tioo, bec.u~e of t}~e f~~e of a~e M«t~go~s to P~«m. wkb .ua ,~biae e~c
s tion~ ag~reemenq, oooditioo+ a~d oo~vemntr af said pioa~oe~? note and tMa deed, or eid~ ~nd ~neey wc~
in~ee~est fran ds~e at tbe rate shted.a? the rrote aoc+ued haeby.
i 15. 1l~at Le wrlll oommi~ ar su~ar no aasbeti impal~rmen~ a deteciocatim - cf ~aid p~aty
, and fa tLa ~reat of die ~~of•d~e Matg~goes to 1oe~ the:b~didiog,i aa ssid pe~i~es snd those t~u be a+ec
i ot impco~enb d~eseon in good ra~ir. die A~ociatjon' maj? maks and pay for wcltr~a~s ~s in ib dis
~ fa~ tbe poper t6ec+eo~ aad the fuD aa~t af md~ pa~nnaots drallbe ~ee~s~edby ibs~~
~ ~at d~e opNon a~A~odstlon be i~oed~j? dns arid Paeyable. or P~~rabb La aooh moot6lr io~D
tiau may dete~nioa~ aad avay md? payment dall bear in~ei+e~t ~ran d~ at tLe ~t+e :tated ia tLe nobe sec+ai
I9. Tbat iE the Associ~tian and tLe Moetgogacs a~ tLe Ma t ae~ i~9 care~r ~ polc~ ac pdici+
. their llwes in an a~a?t eqwl finm time to tlme m tLe aa~o~mt of ~nde bereb9 sec+u~ea, nodctng sai~
ciuy thecaadv, and tLat ths s~id Aaoctistiom m~?pa the p~+eaoiun~s far weL i~aooa (in tbs evaat tbe
aocl ~dd e,~cL snch payma~t to t~s~aid b~noe aE ~ b~n. as cf, t~e ~t day oE tbs thea ~t mantb
~ additioml indeb~ed~as secured bg? ~is asoet~8e P~Ya~
17. T~at ~ tbe av~ent that d~ naoetg~age bs g~tva~ to ~sec~a~e a oo~ubrnctioa 1a~n, faffurs au tbs paet ~
+ d~eir ooatractoa bu ooa4plete add building ia soooedwoe wltb Ooud~oa Loan Ag~eeaaeat~ af erna? date
~~aid ca~ndion in aocad~noe wtth plans and ~dan ffied wlth d~e Aoodatla~, anII oomtiame a bn~
and, at tLs optiou aE tLe Assoe3stioe. ~~ely n~atnra tLe aati~e aio~ou~t oE pcL~3pal and in~t bee~eby ;
'ciation may ioo~nedi~?tdy i~dituEe proaedi~ to fos~eElo~e tbb mo~tg~ga
18` TMt tbe abstraet or :b~hacb af tlde aavaiiog the mat~aged propaty sbaA at sH timea, dar~a8
s ; g~ge. remaln in the possession af tbe As~odatian and in t6e ev~t of tbe foreelos+a~e of thi~ g~s or cd
. tbe m~atg~ged proQaty in ~dingudshnbat of ths indeb~bedne~ ~ecured be~, ~~4 ~0.~sad -inbe~at
• aad fio any meh ahtsa~ts af t~1e sb~ll p~s to t}~a pordwer oe gan~ee.
~ ~ 19. The Aeodation shaD bave the rig~ ~~s di~x+atb4 bo requi~e d~at tbe Mactga~aes Pay io~ t~
tioa b~ tbe moathl~? i~lmmb af pri~al aad ioterert ~ be ppid by the Matg~gnrs ~a~der tbe nobe see~
~ ' aa amount eqnil't~ a~e~fi~fth of tbe annual im~mentr of any ta~s an tbe p~+ea~i'e~ b+?bd
~ go~r~nm~~tsl a~hocit~'. and cne-tweafth af ths ~uonual pe+aon~ms fos Fire aud ~~b~Co~a~ge ~nn
p~emi~es as hereinbefoee requirod. by tLe As~octatioa, and the Matgag~an' failure to m~be such payma~b db
k , under t~is mortgaSe.
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f ! ~ ' IN VVtTN8S5 WHEAEOF, tbe ssid Ma~tgagaa bere+m~o set t6eir band: and seds tbe day and ye~
~ ~ . Sf~pnal, sealed and de.~tv~a~ed bi the p~e~a~oe af:
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~ z - ~ Edmund lr[. Radke
~ - •~r~~d~
~ - ri~i M. ~ice
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