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4. Thst. a~ ada ~o proi~n mw~ fuuy ~Ir s~cunq ol ths mwtpp~. tM Mtaip~po~. top~~hN wnh. srxi M Wd~iwn ~o. iM moAkAy~iym~s und~r tM t~rms o! t1N
non s~cund f~e~py, on tM tp~uMd paymMt d~t~ ol Nch month unW tM s~W raq a fuuy p~~d. w~u pay to ~M Assouuwn tM fdbw:ny wms
Is) M~nstalima?1 M tM tu~s ~nd ~ss~ssmrnts NvNd a W b~ I~v+W pa~nst tM p~m~ses cover~d by thn matyap~. s~d sn ~nsu?pn~m ol ini w~nw„m
a pemwms cMt vw~ b~cort?~ dw u~d paY~bl~ to r~w t~ ~nswanc~ on tM pem~s~s covaW M~~by aps~ns~ b:. by br~. ~r~d w~ndstam. as povd~d
Iw br D~~~W~ 3 pscWrq. a wch otMr nuud as m~~ nasonably b~ ~puu~d by tM Assoastwn. ~nd sn ~nst~um~M o1 ~ne p~m,um ~na~ w,N '
b~ca+» du~ u~d piY~ON to r~w tM matpay~ ~nsur~nc~. d My Suth ~stallm~nts tMM De pua?. rtspacavNY. to on~•twsihh 11/ 12U+10l tM ~s
t~msad p~mwm or pnm,umt ta wcA x+wrN~p. uwf uaa arW ~ss~ssm~nts n~a[ dw las ~sumatW by 1M Assoustanl Nss ~II ~nsuMmM~s aM~sdy
Pa~d ~Mr~b~. d~vd~d by tM numba ol mo~~hs tMt ar~ to N~pw on~ month p~w Io tM dan whs~ such pr~mwm a pnrruuma and ta~ces and
ass~um~na w~M b~oorr» ~1u~puMn T1,~ AppGat,on, wh,l~ spWy~np such payn+~nts to uywanc~ pem~ums. ux~s and ass~ssmMts. wfae ~M s~me
bscar» dN~nquMt. sMN not p~y a?t~r~st to eM Matp~pa on wcA funds, ind au such p~yrth~ts may 0~ commu?pfed Dy ths Assouatan MntA ar?y
o~hsr such tunds a nnth ~q own lunds TM lunds an p1~dpW aa WMtan~l a~cuntY lor tM wmt s~twsd by tlus Mo~ty~ps snd ~~e wbNcl to us~ by
the AssotNt~On in p~yrt~t Of "4t~ thirpy.. Md A~nk COINctqn thup~s
(bl AN psYm~nts mMtwrNd m ths pr~tW~np su~Nttcon of ths W~ap~aph and ap paYments to be mad~ undp ~h~ nolt a~cur~d her~by shaN b~ add~d
toqetM. and tM sy~p~a smount tMnoi shaN b~ p~d by ths Matp~pa ~sch momh ~n a s~~+qle pavR+ent to bs appdsd by th~ Assoustan ~o ~ns
fdiow~~q uems u+ tM adN sN /atA t Tuq. iss~ssm~~ts. ~nd ~nwranc~ pMUUms 2'L~te cha~yes'~ and WM cousct,on chsrp~s. unless pad ~n
manner prov~fM m w~+qr~v~+ ~ I~t 3. ~nur•s~ oo cn~ noa s.cu~.d nsrsoy a Am«u:suon a ~ne aMC~a~ oi s~w noie
Any definency m tM amount ol wch sgprsy~te mo~thly p~ym~nts ah~N. unlsu pad by the Matyagcx pna to the due date d tM ns~t such p~yment. con-
stitute sn ~wn[ d dsiault undu th~ mortpa~. Without w~rw~ of any rpht. ths Assoushon may coNect s"late dwys" as prow0~d n ths Nots
S That ~f the total ot tM paym~nu made Oy tM Mwtpapor undH Id o~ psrayraph ~ pr~csdup shaH eaceed ~M ~mount ot paym~nts xWaNy mufe by tna
Assoustan lo. eaa~s aod ass~ssm~r?ts snd a~wrani.y pnm~ums. u tht c~s~ may b~. such ~acess shab b~ cred~red by ~M Assoaatan o~ wbs~qwnc parme~ts
to be made by tM Matqapor If. Aowwer, tM monthly piym~nts mads by tM Matp~por unW~ la1 ot pu~9rsph 4 p~ced~ny s?yil not Mw bse~ wffK~ent to
WY ~aass snd ssssssm~nts snd x?wr~nc~ psmwms. ss tM eaa~ msY b~. wMn Ms ssms sMM becans due ~nd psysbls. chen. Ms Assoc~a[an m~v. ac ~ts op-
tan. ~mrntd~a~ely p~y ~h t~aK Md ~ti~sfnyntf ~nd xftyr~r~q p~m~um. ind tAf MOrtp~pp Shill p~y t0 th! ASiocUtwn s~y amWint natlst~~y to m~k! up
the def~c~ency. and wch paym~nt shsN b~ dw ~~d p~r~bN vwtlun tlwrty (30) dsys ~ha ths dats ot ms~6np ol not~ce by the Assoustwn setunp Iwth ths smoum
o( suth de6C~enCy. If. at am t++rw. t!u Mottp~pW sha!! tM~dM t0 t!N AstOCytqn. rf KCadMCe wNh tAs powsqns pt tAs nob iecur~d hertby full payme~t ol
tt~e enure uWebtedness rpns~nt~d I+K~r. tAt Assoc~atan sh~ll. wi co~~putu~p tht ~mount of such ~ndebtedntss. cred~ to t1?e account ot tAe Mortflspa any t
balante rems+rong ~n tAe Iu~+ds accumulatW unds~ tM provq~ons o11a) of piraQnph 4
fi To permu. comrtat w wffN no wsst~. impsum~nt o~ deta~aatan of q~d property. p sMr psrt tAereof. snd upon the bduro ol ths MortQspa to Wp tns
C~?~ngs on ss~A prop~rty ~n pood ca+drt~oe~ p rp~r and mantsnanc~. tM Assocauon m~y demsnd propa maw~tensnce snd tM ~mmedute rspau d saW
bu~kl~ngs. a sn ~ncreass m tM ~mount o~ a~eunty. w ths ~mn»dua npaym~nt d tM dsbt lwrsDy secur~d. and tns Is~luro ol tM MorlQspw to wmphr antA
sad dsmand ot tAe Assoc:~t~on fa a pKad ol tMny (30) ef~ys s1+~N oo~sutut~ ~ br~sch o1 ttrs mwtgags. ~rrd. ~t ths opaon ol tM Assoc~stan. ~nunsd~stelr
maturo the enbre amount o1 pnneip~l and ~ntN~st Mr~by s~cw~d. ~nd tM Assoaatron ~mmWratNy snd Nnthout notKe m~y ertst,suts p.oceedmps to la~closs ~
th~s matgspe s~d spply tor tM ~ppou~tm~nt of ~ r~te~ver. y herNn~he? pov~ded: snd n qse ol the refussl. ne9Nct a~n~bty d th~ Monpsgor to repsu snd ?
msu~tain sa~d pops~ty. th~ Assonatwn m~~. ~t ~ts optan. make wch rp~ws w wuss the s~me to be made. snd adva~ce moneys Hr that behsM
] To pe.form, comply w~~h and +bid~ by aach snd ~vsry tAs st~pulatans. spr~ems~ts. condnro~s ~nd covenants ~n sad prortuuory note and tlrs mo~[p~ps se~
(orth
8 To comp~y vwch tAs wbdiv~s~o~ nstnctans ~+d tM munc~pat torwnp o~drMn~es appMcspls to [M mor[pspsd prope.:y, rqt to a~ct a pe~m,t to Ce encted sny
new buddrgs on ths wMwses Mn~n mortpap~d a to ~dd to a psrm~t w bs ~d to. make or perrrnt to be mad~. sny streutursl altentans to smr ot th~ e:-
~su~9 ~~?wovemen~s thsrea? vmtAOU~ th~ wnaen conssot o) tM AssocMt~on: snd ~ ths event d sny valatwn a attempc [o vwlste tnsss sapu~suons. or sny o1
them. tlrs mortgsga and su wms secw~d MrWy sh~Y ~mm~d~atNy O~cortk due and DaY~bN at ths optwn o1 the Assocatan.
9 That m case ot s detauh in u~y d the tams ot ths matpsps ~~d tM f*np ot a bix to fw~cbse thn a smr other mwtyage encumdenng the w,th,n dssc~bsd
p+operty. the Assoc~at'on sAaU b~ Metl~d to spplr. si srryr um~ yvithp~ut notics psndmp such Iprsclowre w~t. to the coun hav~g ~ur~ad~ctan tM.eo1 for the sp•
pamment of a recarer of a8 and s~npular tM mortpay~d popMty, and oi ~II ths n~ts. ~ncomss. pohts. ~uuas snd rerenues thersof, hom whatsosve~ source
der~ved. and. thereupon. it ~s Aereby eaprqsly cownant~d ~nd a9rNd that the oowt shaH fortMnth spppnt a recener of sa~d mortQ~ged prq~ry. ~N srW
s~ngulsr. and of sutl~ ?ents: mwnwss, profits. issuq ~nd rev~~ws th~rsof. bom wMtsoever sourte den~red. vnth ths ususl ppwers e~d dutros of retews.s m bke
cases. snd wcn sppwntment shaM b~ m~ by wch oourt as ~ m~na ot stnct rpnt to tn~ Associatan, and NneAout reference eo tne ao~q„acy o. ~r?sdeQuacy ot
tne va~ue of the property herepy rrqrtysgb. w to ths sdwncy or msoFv~ncy ol the Mony~yor. arW that ssxn rents. pohts. ~ncomes. ~ssues. and rovenws sha11
be appl~ed by such receiwr to ths p~ymN+t o1 tM mortp~y~ w~debtednsss. costs and charpes. accord~ng to ~hs order ot wch court.,
10 That M the ewnt the ow~erslrp o1 ths mortp~Q~d pr~, a any psrt tMreof. bscpnNS veatsd m s person othx than ths Mortgapor. tM Assoc~atan maY.
v~nthout not~ce to ths Mort9apo?. ds~l yntA wcA su~tsssor a succ~ssors in ~nterest wrtA referenoe to tlrs mortqaps and the dsDt hsreby secured. m the sams
mam~er as vr~th the Matysya. v~nthout m ~ny way v~tan~p a Wscharyr~p tM 1Nortpspoi
s babbty hereunder w upon tha dsbt hereby secur~d No sale ot the
wen+~ses hsreDr mwcyaqsd and no forbsarsnce on tM pan of tAs Aswastwn. snd no extens,on of the ome fa the payment oi the dept hereby secure0 prven
by the Assoc~stan. shsp operste to rol~~se. dwcharps. modify. chanQs or aHact tAs w~g~ns! I+abMty ot the MortQsgor Msrsu~. e~iher m whole or n part
1 1 That m the srent the prsmis~s hersby monpsp~d, pr any pprt thersol. sha~ be cw~dsmr~f srW uken unde~ the power oi emu~t domsm. the Assoaatan shsQ
have the rpht to demsnd thst aB damap~s sw~rdsd (or tM t~kinp ol a uyury to said p?ertwses shan be pa~d to the Assoc~atwn. ns wccessors or ass~g~u. up to
the amouot then unpsid on ttrs mortpsps. snd may be appued !o ~rryr wms last psysWe herwnder
f 2 7nat t~ma ,s ur the asssn~e o/ this cont~sct and that ra wsivsr o/ arfy obl,pstan Aawnder. a of the obt~gafan secured hereby_ shall at a~y t~ma tMe~ssher be
held to be s wa~ve. of tM tKms har~of a of the pom~sspy note securad I~eby.
~ 3 ~n the event ot sny dehult in any of th~ terms of th~s mortpp~. a m ths note sacwW hs~eby, and accele.~twn bir ths Aoidsr, o~ any aher s~twuon tASt would 3
cause tha mterest psd w psyabt~ unda tha obly~tqn to ~ap~ tM niaest ~at~ wtAor~red Dy law. thM ~n wch r.ent aq excess mtsrast thsretdore pad sh~N ~
be aedrtsd to pru~c~psl snd aq acuu~d and w~p~,d ~xpss ,nanst shsN sbab snd shall not De oe oblpstwn of tAe rrwicK or of amr othsr person. f
~ 4 That to the extsnt of tM ~ndeM~dr~sss oi tM Monp~pa to tht Assowt~on dsscnbsd here~r? or secursd hereby, ths Auocat~on is hereby wbropsted to tne nsn
a ber?s snd to the ngha M tAS ownp ~nd ho1dK tA~r~o10( Nch ~nd ~wry mortp~pe.lia+ or other encumDrsnce on the land descnWd here~n. wh~ch ~s ps~d and
sansf~ad. in whole or in part. out M tbs pocwds af tM Iwn dpcnb~d hKem w secured he~eby. and the •espectrvs be~u ot ss~d mortpages. bsns or other en-
cumbrsnces. sns0 bs. snd tM s~m~ end ~ach of tMm henbY is pres~rv~d uw sMa pau m and be nea by the Assoc~atwn ne~si~ as secunty ta tne ~n-
debtedness to ths Assousaon Mran d~scnD~d a hsrWy s~cw~d. to the sams ~atent thst ~t would hsve bee~ p.eserved and would have bssn wsaed to and ~
been hsld by the Assoaatwn A~0 it bNn dul~r and ~pulsdy ass+pn~d. trsnsierred. set over. ~nd dslrvered unto ths Assoaatwn by separate deed ot asspnment.
~oMnthstandug tM fstt thst th~ sam~ may b~ satistwd and c~d p~ recprd. it bunq the +ntentan of the parUes hereto that the sama vmN be sat~sirod snd
cancell~d of recWd by th~ holdNS UNnol at w~bout tA~ Um~ oJ tM r~cordr~p o/ lA~s mortgspe. -
15. Thst ~i any of ths wms of mayy herein roHrred to b~ not p~omptly ~nd luliy p~d witMn tMrty (30) days next ihe~ the same severaNy become dus a~d paYSb1~.
w 1t esch and every ths sbpulations. apr~nts. cond~tans arW wve~snts oi sad prorroasory rate snd tMs mortpsge. or eitner. are rat duly perfwmed. com- .
d~ed rnth snd a6ided by, ths appr~ysb wm unp~id u~r sad prom~sswy rqte snd tMs mortpaye shaN become due and paYable (ont~w~th w thereaher. af ths
oprwn ot ehe Assouacan. u tur~r and comp~sta~y n it said pprspaee wm ol mone}r-were onp~nsuy supulated to be pad o~ sucn day. any~fwny x? sa~d
po~?~~ssory note d huew? to ths conu sa d
arY ralwitAstand~np
18. Thst ~n ader to accek~ah the rrqturtty of tM ,nd~pted~s Aer~by s~cund bscause of the (s~iure of the Mortpsqa to paY aMr tax assessment.l~ab,hty. obbya-
eb~
~an a encumtxanca uPa+ s~d proppty as hsr~in provded. it sh~N not be neoessary nor reqws+te that the Assouatart shan Mst psy the same
17 1! a conveyance should be msds by ths Mwtpapor o1 tM prenusss hsrsu~ descnbed. or any psrt he.eof. snd the qrantee named m wch conveyance tads or
refuses to aswme the paYment of ths obMy~uon evd~nced py s~,d prom,ssorY rate and secured by chn mortqaye. and m accordance vmN tt~eu respeaive
te.ms. and abde br the rulss and repubt,ora uf t1~s Assoc,at,on. ,~Jud„~p paym~nt ot ~ reasonabk tra~ter les. chen, snd ,n that event. at the optan and upon
[ne demand of [hs Associstan au wms of rrwn~y secund hereby sh~N ~mmedrately become torthvntA dw snd p~ysble.
18 That the abstrKt ot sbsUSCts o~ Mfe covsrinp tM morty~p~d properry shatl at aft hmes. dunng the hte ot th+s mortflage. rertea~n ~rt the possessqn ot 4he •
Assouation and, m event of tM foreclowre of ths mortpp~, p pther transfer ot t~tle to ihe mortyayed property, u? eaungu~shment of the ,ndebtedness sscured
he?eby. sll rght. ntls snd intN~st d ths Mortppw in ~nd to srry such sbsuacts oi ntte shstl pass to the purchaser or grantee
7 4 Shoufd the vshGty ot l~sn ot thts rrqity~p~. p ths not~ seuu~d ther~py. pe tpntested by i~ugstron w otherw+se. the Mortgagor ayrees to paY to the ASSOUatwn
the cost d rletend~ny ths sam~ x~dud~np s nasonabls aqaney i tse _
20. To pay aM snd sinyulsr tM costs. cAt~~s ~nd ~pMf~. rrch~ding sttomey s tees ressona~ly ~ncurred. w pa~d at any ame by the Assoc~atan, becauss of tt~e ?
tadure ot th~ Matgsgor W psrWrm. cornply with aix! abide ~yy esch and every the st~pubta~x. agreements. caid~tian and covenants ot said prom~ssory rqte
fK
and tha mortgsgs. or either. e~A every wch (exospt tor the psymsr+t d the monthhr mstallmen[ as reawred by the Prom,swry Notel sha11 bear u?terest 6om .
date at the rate of ten psr cent (10'9i~ pm m~um unGl fuNy psid.
21. The Assoc,ation shsN hsw tha rqht ~t a~y urt» aed trom ums to ums ~nd w+thout not~ce ta a consent ot sny person to !al reeease s~y portron of tt,e prem,ses
(rom the uan ot shis mortysps: (b) rsNase +~r vsnon uabb ior wYm~n[ oi arryr ~ndsbcedness sewr~d he~eDy. (c) e:tend the c~me ot vevmene w a1te. the [erms
of payment oi sN a sny psrt o1 tM md~bt~drwss. nntAOUt ~H~ctwp w rNs~s~np the perswyl Gabl~ty ol u~y ps?son hable (other than sny psrson rsleased pur-
want hsreto) for ths psyment o( ~ny wm or mt~~st s~curW hsr~by ~nd vmthout m ~ny wise alterrop. vsry~nQ, a d~rnM,sfxnq the taces. eNects. a bsn of ths
mo?tgage o~ sH ths prerrwsn rat sp~tafically nleas~d trom tM INn ot th~s matyspe by the Assonatan _
22 A~r agreemant f+eresh~r m~ds by Mortpapor ~nd /?ssoc~tpn pursusnt to tlws mortpsye shatl be wperw~ to the rphts ol the hotdsr of a~y Mttrveronp hen or ~
entumbrante
23 Upon request ol Monyspor. tM Assoaatan ma~. st ~u soN opt~on. from nms to t~me. before fu11 p~yment ol stl uideptedness sscured he~eby. make fwtA~r sd-
vances to Matyapor: provdW. how~. Uyt tM tast pru~cepal sscured hersby ~nd r~ma,rnnp unps~d. nclud~np sny such advances. shall no[ st any pme e:-
teed the orp~n~l prr~c~pal wm sscwsd h~t~by. µortypor NyU p~y ~H wct? furtMr advsnces wrth ~nte~est snd tM same shall be secured hsreby. AN prans~o~s ~
M thn reortgags shaU ~pply to uch twtAw ~Qwnc~ ~s wW a w sN othN mdsbadn~ss sscu~sd hareby. NotAry lierem conu~r»d. howeva. shsq t~mrt ths ~
amoum secursa br t?ns monpap~ ~1 sucn ~mounr n incressw by ~dvsnc~s msde by the /?ssoast~on. ss nue~n e~sewhere wov~ded tw to p.otecc tns secunty
24. In the ewnt ths Morty~pOr ha~in. w ~nY wbssq~~t Morty~pa, or ~nY Pa*son « co~PO?ation wv~n~9 anY ~nterest whatsoerer. slwuld encumber the P~oPSrtY
he~sin mortq~ysd M an inswma?t commordy rohrr~d to and k~wMm as s"wraD-uound mongape ' wrtnout fint obts~ng the wrinsn consent oi tns Associs- -
tion. tben. et tAs aption of tM Asroa~tion. ths obGp~tioo secured bp tlws MoKyps sh~N i+nnn0~atel~r bscon+s dus and psysble.
25. To prov~ tM Astociation with flpod (rau?a~o~ Coversq~ ~I ths real property a now or heresfte~ detarrtrnad to be wrthm s spsc~sl fbod hazud srsa as slawn
on Flood Harard Bound~ry Msp/Flood Insunnu Rats M+P as PublisMd bY U?e F~al tnsuru~ca Admin~stnuon.
LEO ANp RECOROf G
. tuc~E covN~r Fu.
ROCER POtTRAS
CLE4fc CIRCUIT COURT
~n ~rr~r.~ YEP.iF1E0
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` SEP Z~ Z 37 ~'77 ~ ~
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