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8. V.ti dd~rk i~ eM p.rfoe.~.o~ d d~t aoMwes ~ a,peerre~t: aF lLi~ a~o~~p~e. t6e mo~t~oet i~ bs eatitlsd
to oor~t lir ~rl~, fwr~s awdp~pe~ ie¦~ dit pw~iMS irwibda~ de~lbed. bnt tu ase aF a dda~R b a~r af tLe beeais ~f
dii~ ~aq~r, rrd dr af a~ r~bw di ar~r odMt ~aeepp ~ tl~ w?id~ia dac~ibed p~vpe~tr. tbe
Aa~o~iWo~ sW ~wd wlt6ort ~otit~ b~ aatlded to .etit ~ppoistaent af a A~eoet~ of tbs moet~ed , and
t
af 1V ~w~r, iw~t and dweo~ ~rid~ tbe u~lpo~r of Reoeirr~s ia wcb asa, aud wch Reoeiv~ a~y ~tbwed
i~ porario~a aE dia a~id propaetr ~tA drs tiee af tl~e ~L t~sri ~der snd~ [areciowre, aad uat~ the ooafirm~?tioe of sucb
s~is b!? t~e Qoret -
9~ ff aoaav~yaoos sboWd bs ardeb~? t6e sot~soes af tbs prao~ie~ Le~'dn c~a~ed, ac an~r p~rt tLe~~eof, witb~
ebe w~itlea ao~se+nt aE t6e A~oeiaNoa. md without a~nptioo iei ~uLr [o~ uf Lw by tbs ~aotee of t6e ~tio~
~ocitio~ cre~bed bZr ~aid p~o~oi~a~y a~oee and tl~is ~ then. and in tbat a~ak, aod at ths aption of tl~e Associ~tia~,
aad witbout aatjoa ~el su~as af a~? sx~m~d M~ebq i~nedi~tr.l~? and aouaurend~? ~ web cmveyance beoome dae and _
Payabie ~od is defaalt. 7'b~ /~oc~io~ ma~ de~l wit~ suooewoes ia in~erest with reEeraooe to th~ ma~tgsge and d~e debtba~eby
sen~red a t6e s~ms m~ooe~ as wit~ tbe mo~agaes, aad map ta~be~r ~ sue o~ mar e~tead time for payme~~t of tbe ~ebt, s~eamed ~
t
h~reb~+, ar otbeiwae aet ~v~ont a in aap wrav aE~ectlns the ~ af t6e mo~tgaga~s hereuader o~ upoa dis debt
t~er~b~r se~wrd. 'Ibe As~oc~atjoa mh? deal wrltb tLe Ma~tg~aaa~ ancVar wiRh s~.~xessoci in interat with re[~era~oe tio t~s
.pa e~ a~ ~ ~ ~c~a~s a~ ~ ~ p.~c ~ ~ a~bc, r~,?ja~g ~ a~c
~~P~~. ~.~dva . ~aa.c ra~ ,ura
u~a~r ~as mo~e~ a~ t~ oo~c~ct, v~~houc b~g ~r p~a;n
tbe Asooi~tjoa L~s oMac otbe~ ~Seas or liea~ors ar af anp ~unior ~b 1n tbe propeity sec,ued be~ebp.
10. 11a~ b the ~yeot the peea~es berabp or any put tha+eo~ shaD 6e ooodeinned and tajoen fac usc
~mder tbe po~ af a~ doaai~. d~e As~oc~iation~ s~'ve the r~rt b d~nd d~t a1l dmages ~warded fa~ tbe ~af or
~ to s~id p~sa sh~D be p~id m the Astoc~tioa, ib suoce~wis ar a~, up to tbc amouat unpaid on this mact,g~?ge and
mry sPPiied u~on tLe P~7m~+o~t ar Paymants l~t Papable tl~a'c°e-
11. It ~s spec~p agr~eed tLat t~e ts the esseoce af t~is caotrad and th~t no waiv+er of aay obligatioo he:e+mder u~ af
~ ~.r~ ~a ~?,~,n ~ ~ ue baa ~ ~ e~ ~ a ~ ~ ~t ~a
~~~~~~a~ ~~a~ca~at«mr~~~~y~a~aue~-
~ ~ ~.y ~c a` a«~ a,~ ~ ~a a~ ~ ~~a a~
~a p.~ . ~
is. r~ ab ~e ~ ~ ~ a~ a~«~ ~ ~ ~e~ ae.~,~a ~ a ~ ~y, ~
~~~~?~.~a~c~~,a~mam ~~a~~~~a~~~,~,a ~sa
~aa~~~~a,~m,aa~a~~~~a,~a~~~ ~a,~~a~~,«~c~
~a~~a~~a~:.~~a~,~aa~~~~r_~a~,~a~~~~, ~
M~,a~baauya~~~~~ • ~~~e~~~.~,~~,~aa~?~
~ ~ ~ a~e ~.~a ~ ~ ~~~a ~a ~ ~a ~ ~a ~ ~a~u
? ~ ~e~ b.a ~e ~
~ ~s~h? ~ ~ ~c ~ ~a aa~,~~~~,~?~c~ uy ~ ~a-
mg r~ ~ ~ c~ ~ ~,~r;~a ~a ~a ~ ~ ab ~c~ ~ c~ ~ ~ ~c ~ ~ ~?;n
~~.~a~aa~a~~au~?a~~~u~,~~~~a~~~~~a .
- To ~y ~n ~a ~ ~ a~ ~a ~ ~s ~a -a ~a .c u?y
n
~ a~ ~ a~ ~ ~ a~ ~ ~«r«m, ~y ~a ~ ~ ~a
tio~ a~, oo~-tioas aua co~e~nts ~f saia p~om~o~ey note ana this aeea, or e~her, ana c?er~? sud, t~nrnenc shalt bear
u~terest ban date at tbe ra~e st~ted ~ die note sec~n+ed hei+eby. :
15. ~at be w~l ea~mm~ ac w~er no ~rast~ imp~icment, or deterioratioa af said property or any part thereof;
and 'n~ tLe cveat of fhe af iLe M to bee~ the birilding~ a~ saidp~ and tl?ose to be e~ec~ed an said premises,
ar ;mpm~ab ~~eon ai gooa r~a~~A~o~ian may m~e ana p.y~ for wa, as m its a~on ~ may ace~o
ne~r for tbe p+oper pn~vatioo thQ~eo~ and ihe fnll amw~ af snch payments sbaII~aecwred by tLe Hen af ih~s moctgage
and at the option of a~ ~ ~ a~ ~a ~?r~ ~ ror~ ~ ~y ~ ~
c~~a~~a~y~~c~.n~~~a~n~~~a~a~~~a~?.
~e. ~c ~ ~ ~e~ ,~a ~ ~?i~ ~ ~ M~ ~~n : a pa~ ~ ~ ~
the~ lives in aa aa~t eqml fi+em time to time tu tbe amount uf ia ba+ebjr sec~~ced, making soid Aasociation benefi-
ciarp tbe~rder, and that tbe aaid Assoctiation nmypay the ~ foc sneh in~uanoe (in the event the Matgagors do not),
and add e~ mch paymeM ~o the~d b~Lnoe af tbe loan„ as af t~e fiaat day of the tbea cutreat montb; and it shaIl beoo~e
additioml indebbe~s s0c~u+ed b~ t~s mo~age payabie upon demmcl. . -
17. ~at m the evait that tha modgage be gRVSa t~ seaae a eoo~uctio~ 1ont~, biluce aQ t~e put af the Mortgagors or
tbea oontracta~s to oampie~e said b~nldisg in aocadanoe witL Qa~truction Loan Agreea~ent, of even date br,~+evvith, or to build -
` sai~ ooostrnetion in aooorda~ooe vvitL plans and spedBcations fiied witb the Assoc,iatioo, sLaD oa~tute a bceach of tLis matgage,
~ ~a,~~~~~~,~a;~?~~~e~~c~~ma~~?~a~aa~~-
c;aeion mh? ~mmediedely in~e pruoeodi~ co t~o:+eclose tbis moscgage. .
f 18. 17nt the abstrrct a~ aba~cts af tide o~vera~g t~e mo~tg~ged property shaII at all times, dudng tbe life of this mat-
~ gag~e, remaffi in ibe possession af the Association and m tLe eveat of the forecbs~ ~ thit m~oritgage or otber h~ad~r of titie bu
the a~o~aged pra~e~ty in eumg~hment af tLe mdebte~oess sec~med bet+ebY• ~il right, tide, and interest of tLe Mortgagars in
and ~o any mch :bstracts af i~k shaIl pess tu tbe paid~aser or g~antee.
19. . Tbe~ Asociation sLaH ~ine tLe r~ in ~s d'acretioo, to requ;re that tbe Aiartgagas pay into the Assoc~ation in addi-
~c~~~?;~~~~~a~~~~abyr~M«~~~~~~,~abya~m«c~s~,
an amount equai-~o anatw~th of tbe ammt ~h af any mxes on d?e mo~tgagea p~ le,?;ea 6~ a~aessed b3? nnr
gav+anmwtal aat~odty, aad auo-tpelEth of the annual prami~o~s for Fiae and Estended Co~aage in~ance oa tbe matgaged
u~ as h~b~a~ raquired by d~e Associatioa, and the Mortgagars' faiha~e to maloe soch payments shall o~tih~te g default
~
IN W1TNffi5 W~REOF, the said Mo~tga~g«s bere~mto set their hands and teals the day md year first abav~e written.
~ Signed, and deliv~a~ed in tbe of: . ,
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-L~=-- --°i-'--- - - - ~SEAL)
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- - Am~is D. Moore
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- - tN~ tMOR1'G~OO~t~) -
~185 ~2l~
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~-~a~~r R = -
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