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8. v~a a~.,ac ~ m~ a a,. ~~a ~ a~ e~. b..~,aea
~ w cobsat a~ re~ts. ~net as~d p~o8~ t~ +t6s premre. t~erei~6aEars ae.eribe~, buR ~a c..e oE . aaf~wlt in of a~. ~ aE
' tWt mo~,a, ad tbe oE ~ bill ~ tareclas diN arau~? athtR awrt~s a~c~cmbarin3 ths wRb~i~? dirermsd proparty. dre
As~odadon s6~ riad witb~K iwtice bs antkbd to ebs appoinmrent af a ReoslMer of tbe 'mat~ed pcopeety Nnd
cE tbe r~nts. ~+~s ~d • thee~e~. wid~ tbe ~sale d~ereof under sw~? fa+ec:lo~~ro. aad~ il oonEb a~?ti~oa of such
ie? poaes~ioa QE dre s~d pco~perty uatil the tlme aE tbe
ssle !~y the t~onrt. _
9. IE a oonvaya~e shouW be made b~? t~e moctgaaars of the p~nises herdn daartbed. a~ aayp~rt tbereoE. without
tbe written cay~ent a~ tbe A~snciaKa~. +wd vr~thout auumptinn in reguL~r foran af 1aw br t~e ~,raat~e of tFie obUSati~o~u b the
Assara+atan ce+oa~ted by~ said p~om's~oicy nwto urd t6is ~an~tgage, t1~, and ia t!w?s ~t, and ~?t tl~e a~ptior? af the Associstia~n.
nud ~v;chout notice. aU aums of mone~? sa~ur~d ha~eby sball Lmmediscely und concurrentlv vvith such ca,veyariee beoome due nnd
~ay de~i wi~ ~oo~s in iate~+est witb referencs ta thit maetgage snd the debt
secured in the sontie m~nner ~ with tha mortgagora~ snd may fo~benr to sue ar may eutead Wne foc payment oE the dcbt, ~ec~~
hereby, oc otherwise act vrithout ~cg~ « in any way afEec~ng the li~bility of t~?~ ~g~?gors bercundes or upoa the debt
}~ereby scc~ued. T'he 1lssociatioa
mad~
y alsogdc~i vrith the Moctgag~s and/ar with suocessa~s in inter~est with r~ce to tbit
moct~age and the debt hercby ~cur~ by Eorbearing to sue, exten~g tbe t~e far p~y~t of the ckbt, ~x~viding for different
nro~tbiY P'~Y~~ ~or a diffetent int+a+rraR rate, and~ a~ther cxprcas u~aclificatbns n£ ibe c~ntract, without loain any priority
tbe A~ocLt~o has over other raatgsgees or ~ o~ ~ of ~y ~c~ ~ c~ ~~a t~~y.
I0. That in the event thc pnem~es hereby awrt~~g~d, or any part thereof, ~xU be oondemned and tak~? Eorp~
b1lrc use
umkr the power of e+mincnt domai~~, tbo Asx~ciation ahall have the right to demand tbat all damagcs awarded fa thc takiag of or
damrges to said pr~emisa shall be paid to the As.sociation, its :ucccsso~s or assigns~ up to thc amoiu~t unpa6d aa thi: mortgage and
may be ~pplied e~Qon tbe paymaat oe' PaYm°°K la~t PsYabk t~n.
11. It is specifically agrecd tl~at time is tha e~nce oE thia caitract aad tb~t ao~ wAiver of any obbigatiau haramdcr os af
tbe obugaa~on sen,rea hereby shalu ac .Ay t~a t~r~t'cer bo bela co be a wairer of che term~ or cE the ~c securea heseby.
12. If fa+eclosure proctedings of any ~ mo~rtgage or seoond trust deal or say iunbr lien oE Any ldnd slwuW be indi-
tuted, tY~e Association may at its option, itnmediately or theresfter declare d~Is mortgage and the iadebte~as sac~ured h~rtby due
w~d payabie.
19. To tKe extent of the jndcbteiinesa of the Mor# agors to the Asscaciutioa ~Cribed hacric? ~~ecurad llerebY. the As~°'
n
cintiai is }~reby subrogated w thc lien or NeQS aud to rigbts of the owners and hol~dars d~eroof of esch and every ~g~e,
}ien bc other tacumbrance on the land described herein which is paid and(or) satisfied, in whole or in part, out of tbe
of the ban described herain or secuced hereby, ~rd the resp~ctive licns of said mcxtgagea, lie~ or o~ther enc~+unbcanots, a~
ta and be held by the Associatioa herein as un'ty~ the in~btedness to tbe Associatiau h~ran da~cribed ar hereby secure~
tMs swae racient that it would have be~e~t pn~o~erva] and wauld hnve braea passed to and b~ea held by tbe Aaso~aiation bad it ~een
~Y ~~~Y assigned, trunsferrcd, set over and delivered unto tbe Associatian by aeparnte deed of a~signmmit, notwithstand-
iag tl~e fact that che same may be satisfied and c~ncelled of record. it beis?g tbe intes~ticm af the partia hereto th~t the same wjl!
be sotl~d and canoelled of reco~d by the• hakloss thereof at or about the time aE the r+ec~ding af thi: marctgage.
- 14. To pay all and singular the oosts, charges, and expes~sea h~dudiag lawyer
a feas, seasonably iacurrai a paid at any
~ time by the Association. because of the failure of the I?iortgagora to perfarm, a~nply with and ablde by each wad tvary dipula-
tiais, agtet~nents, condition~ and covenau~ts of asid promissory note and this deed, or either, and every such payn~nt ahall bear .
' interest [rc~a date at tbe rata stated in the note secure~ hereby.
15. T6at he wiU permft, cowmit, or suffer no waste. impaiiment, or deterioration of said pmperty or any p4rt tbereof;
. and in the event of the ~ailure of the Mortf;agors to kecp the buildings an said an,d those to be e?e~ted oa ssud prema~es,
s~ imp~ov~esn~ents thereon in gcrod repair, ti~a Association uuay make and pay ~ as in its disaeeion it may doem
for tbe propec~reservation thereof, and the full amount of such gaym~nts st~all~iecur«i by the lia~ of tbis matgaga
pnd~ah at the aption of the Assodation be immediately due and payabk, or payabb in such month}y ~ta as the Assoc~s-
tion may deter~nine, and every such payment shall bear interest from date at the mte stated in the aodcc wcured l~es~eby.
16. That if thc Association and the Mortgagors agree, the Mortgagora will carry a policy o~ policies o~E insararsc:a upon
their lives in un ~nleunt equal from time ta time to the amount of indebtedneas Zsereby scc+u~ed, making said Association b~r~i•
c9ary thereunder, and that the ~id Association anay the premiums for such insurance (in the event the Mortgsgors do nat), ~
ary
and add eACh such p:iyrr~ent to cho unpaid balance o loan, as of the first day of tho then current m~th, and it shall 6~ecome
additional indebtedness seeuxecl by this uwrtgage psysble upon demand
17. That in the event that this mortgage be given to secease a constn~ction loan, failure on th~e part af the Mortgagors or
their conhactors to complete said building in acco~dance with Constroction Loan Agr~ement, of even date herewith, or to build ,
. said conshvction in aocordance with plans gnd specificattons filed with the Anociation, s1~a11 consbttute a b:rach of this martgage,
and, ut the optio~ af tbc A~ssociation, immediately mature thc entire amount of principal and interegt hereby sec~ued and the Assn-
'ciat~io~ ra~y imaa~ediately institute prooeeciings to foneclose this mortgag~a.
18. That tbe abstract or abstracts of titk covering the madga ged propaty shall at ~11 times, during the lifa of this m~t-
gage, reuwin in the p~ssessiori oE the Association axid in the event of thc foreclosure of this awrtgage or ather ~er of titb to ,
the marctgs~ged property in extiaguis}uueat oE t}u~ indebta~esa a~ecured" hereby, p~ll right, titl~, and iatarest of tbe Mostgagors in
a~?d w aay auch abstracts of title shall paas to thti p~urhaser ar grantce.
19. Tbe Anociatia? shall have the in its discrztion, to require tbat the Moctgagas PuY into tbe AseocJttiosn`•in xddi- .
tian to the moathly tnstallme.mts of principal and interest to be paid by the Mcmgagora ander tl~e note secured by this mo~rtgaSe,
aa amount equa~•w one-twr,lfth of the annual 1»stallments oE nny taxes oa the martgaged pr~emisas levied ar assesaad..t~y any
~ goreramental authadty, and o~ne-twelftb of the annual psemivms for Fird and Ertended Caverage insurance ~n the mbitgaged
prerniaes a~ hereinhefore roquired by the Association, and the A~tartgagors failure ta make such peyments shalt a~nstitute a default
under thi3 mortgsge.
, IN WITNESS WHEREOF, the said Mortgagon hereunto set their hnn d s an d s
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~ Signed, ses~led awd dcliyered in t}se p~eceace of:
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Edmuad ~i. l~dke
. i~~~~~1~'.'~+ _ .____,h.+'...~.r~--.~.1~'_.x..~l~ _.m(sEAZ.> .
Doris M. Radke .
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