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4. Tlut. m adN to P~o~~c~ ma~ h~1iY th~ s~cw~ry o1 uw mortp~p~. tM Matp~po.. ~o~tt»+ v.+th. uri :n ~a+tan ~o. cM ma+:h~r wrmsnis under ~M nrms o1 ~ty
nott s~cured hH~by. on tM sp~t'aMd piYmM?1 dat~ d Nc~ nwr+tA w~W tlr Md ~oi~ a tuMy pa~d. w~l paY lo tM Assou+tan tM IoNOw~np wms
ls1 M u~s1HUnMK of_iMat~s~s and ~u~samN+ts NwW a~o b~ NvNd qMi+at tM W~s~s cow~~d by tMS mat9ap~. and an r+s~~Mm~n~ ot tM w~rnwm
a p~wwt tMf
riflM~can~ Ow uid p~YWN to ~NNw th~ hswa+t~ o~ tM pem~sss covsr~d 1?~~by aysu+st b« by hr~. ui0 wu~dstam. ss provd~d
~ bY Pu~~ 3 Y~K~~4 0~ suth otMr 1?~ard ~t mall ~NSOMb~Y b~ nWaW bY tM Assoaatqn. ~d ~n ~nsuNrn~~t of th~ pr~nrwn tM~ wid
~ pscpm dw ~nd p~Y~N to nMw dw mortp~p~ r+wnnq. il ~nY Sud? w~~Nm~nts sMM b~ ~Vua~. r~sp~tuwly. to'on~•twNhh (1/12th) ol tM q-
umst~d Pr~mwm a o~~ms !or wd+ rauru~. ~nd ua~s ~~d ~ss~ssm~nn oeat dw la ~stimst~d bY tM Associatan) Nss ~b w?suMm~nts slnadY
ps~d tMr~fa. d~vW~d bf~ tM M+mbM ol enor?tM th~t a~ to MMN on~ month Pnor to tM daa wMn wcA Dr~moum a D~~mwms snd tu~s ~nd
sss~ssm~nn w~M b~ooreN dNYq~~?. TM As~oaatw~. wlwt~ appqn~p sueh WYrtNnts to ww~na pemwms. aa~s snd ~ss~ssrMnts. Wla~ tM sam~
WcortN dol~nqwnt. shW nOt piy mlMMt t0 tM MWtp~po~ on WCA lunds. ~nd all suM WYrt~?tt rt?ay b~ tomnunpbd DY tM AssoCNtan vin1A uW
o1Mr wch lunds a witA ~a own tunds. TM fwba ~n pNOp~d as add~tanal Ncw~q br th~ wms sscur~d by tha Matpsp~ and H~ wbpct to us~ by
en~ I?swwtan m p~ym~nt d"Na dwy~s" ~nd Oank ooM~ccao cMrpa
Ibl AN p~~nNnb rnN+tarwd m iM Y~~q sul~ct~on ol tAa Pu~?~ and aM WYmN+ts to D~ msd~ u~Wsr tM not~ s~cw~d hNWy sMN W ~Od~d
topetha snd tM p~~Wu ama+nt tMrwl shW b~ Wd bY tl+~ Monpaya uch monM m ~ s+r~N P+Ym~m io 0~ svd»d bY th~ Assouatan ~o tM _
folbwwp ~tfms ~n tM o~da MI fo~th t. Tsa~s. ~ss~ssmM~ri. Nd mswant~ p~mwms 2' Uu chsrq~s'~ snd Wok cou~ctan eAup~s. w~Nss W~d ~n i
mama Provd~d D~~~ 4(~l 3. Int~~st o~ tM ~wq t~cw~d Mnbfr. ~ Amatuatwn d tM p~~nc~W~ ol s~d raa
MV d~fici~eY in tM ~n+ount ol sueh pprprt~ montMy WYmMb shiM. unba Wd b11 tM Morty~pa Mia to tM dw d~a o( IM n~,ct such p~ymM?t. oo~-
stitute an w~nt ot ddsult w~da th~ matpp~. Vritl~out waivK d ~nY eiph~. tM /lssoci~twn msY coM~ct a"laa chups" ~s provid~d in tM Nob.
5 Tlut ~f tM ~oul d ths O+Y~+~^a mad~ bY tM Monp~por und~r (a! ol P+~Wr+Oh 4 Dr~p s~a~ ~aceW th~ smoum d pir~~ts actualhr msds bY tln ;
Auot~stan la ba~s ~nd ssf~san~+ts and a~wr~rKS Pnmwms, as t1N caso m~11 bs. fuch ~:c~ss shsN b~ u~dted M cM Assoc~suon on wbs~O~+M~ P+rm~nu
to De mad~ Dy tM Monypa. M. law~vK. th~ monG+~Y WY~?ts mW~ bY tM Matp~pa w~d~~ Is) ot W~~WaPh 4 Dnc~+p sh+N eat Mv~ 0~+ wBK~t to s
pay ta:es snd assessm~nts and i~uanc~ p~mwms. ~s tM c~ m~Y D~.,w1~n tM tarM sAill bet.~oms dw snd psyaDN. tMn. thi Assocwtan m~y. ~ts op-
tan. ~mrt~ed~sbly psy suth tu~s ~~d ~sNSSm~nts ~nd Msuranp PrM~um. aM tM Mortp~po? s~atl p~y to ths AssOastan ~np smount n~c~sssry to msk~ up
the defK~ency. snd such paymN+t sh~M b~ dw snd p~Y~ ~tfan tMrty (30) daYS ~hK ths daa of ms~ti~p ot notKe Oy tM Assouatan sott~p fatA tM smow+l
ot wcR dst~c~s~cy If. st ury hm~. tM Matg~ga shW ta+d~r to tM Astocatwn. n sccadsnt~ w~th tM p~rnns~w?s ot tM not~ s~wred M~tblr. h~M WYrtNm o~ -
tM eotirs M+A~bt~dr»ss rpr~s~nt~d ha~by. tM Aasoastan sMN. m canqdW+p tM ~mount ot such ~ndetrtwrwu. cnai to tn~ accouni oi Gw ~tw~ya~7a sny
Wpncs r~mawrg u? tAs funds accumulaud w+d~r tM p~w~swns of (a! ol pw~pr~pA 4. .
6 To pe?m~t. comm~t or wfNr no wsst~. ~~qrrm~nt a detKa~stan ol s~d p~oW~b. a sny pHt thenol. and upo~ the hdure d tM Mortys9a to kNp tM
bw~r?gs on sad P~opwtY m yood ca~d~tan a rpw u~d ma~ntN+anu. tM Assocatan m+Y d~msnd propsr msu~t~nanc~ sno ths ~mn!e0~st~ rspsM o1 ss~d
buddr~ps. a an mu~ss~ 1n tM smount d s~twuY. a th~ ~mm~d~at~ nWlrma?t o1 tM d~W I+a~bY s~cund. s~d tM fa~lun ot tM Mortyspa to canPM with
sad demand d tM Assoc~ata~ rw a p~+od ot tlwrt~r (30) drys s1~W constrtun a bnach o1 tlw mo?typ~. snd. at the optan of tM Assoc~suon. ~~wn~d~~teh
maturo the enur~ smount ot pnncip~l and mt~nst hK~by s~cund. ~nd tM Assoe~atan ~mm~d~atNy and vmthw+t notKS m~Y unatua pra~nqs [o fw~clos~
t?as mortgaqr and spD1Y Iw tM appantmMt of ~ nc~ :u I+HwNR~r prowd~d: u~d in us~ ol ths refussl. npNct a~nsbd~hr d c1» Matps9a to rp~u s?d
ma~na~o sad prop~tY. th~ Assoc~atan maY. ~t ~a ~a^• rpsv: a caus~ tM wm~ to bs msd~. snd sdvsnc~ moMYS m ~hst whslf.
7 To pe?t«m. coaw~y vmen ~nd ~ br ~:h ~rw w«y th~ stw~~+uax. ~p?«rt~u+a. cor~tw~s and cov«?sms m s~~d prarrssay not~ and tMs monp~y~ s~t
fpth
8 To con?P~Y vrrth ths su0dvls+on r~stnctqns ~nd tM ~1 zww~ a6nancys ~PPhcsbls to tM mortpsy~d Drope~tY- na to ~~ct a PKm~t to Oe ~rect~d u~Y
new budd~nps on ths pre~rrsrs h~rNn mortpa9~d a to ~dd to a pKmu to b~ sdd~d to. in~lu or PHm~t to be mads. sny structur~l a1tN~tans to soy of i!r es-
~sur+g ~mp.owrnents thawn vwdwut tM wnn~n cons~M o~ tM Assoc~st~on: ~nA M? ths ~ra?t d sny vw~atwn or sttempt ~o valaee tnese sUpu~~crons. a a~Y oi
them. tMs mortgaqe snd sM wms sKund AN~by ih~N ~mm~d~atNy b~caM du~ a~d WYabfs u tM optan of tl+~ Assoc~stqn
g That m use ol s d~tault r? ~ny of tM terms ol ths mortpps and tM iduip ot s b~ to lasclos~ tMS a any other matqsqe encumbennp tlw vntM+ dascnb~d
p.operty. the Assoc~atan sh~q bs snnWd to app~y. at sny t~rtM wnthout raua p~ndmp such loreclos~+re wrt. to ths caut hsvu+y w~d~Ctan tMreof tw tM ap•
po~n[ment ol a recener of ~N and s~rqula tl» matyay~d DropatY. and o~ ~U tM nnts. rtrcom~s. Wofds. ~ssues ard ?evenues thsnof. from whatsoev~r sourc~
denved. snd. there~pw?. n is Mr~bY ucpnss~Y cov~na^t!d ~nd aprNd thit tM towt sAaM fathvmth appant ~ recerver d s~d mortQay~d P~oPertY. aM snd
s~ngu~ar. and o1 sucn rencs. u+com~s. D?o6n. ~ssws ~r?d r~v~nu~s chKeof. from whstsoewr souru d~nvad. vnth the usus~ powen sne dunas ot recavas in wu
cases. and wch sppantment shall bs m~ by such cowt as a matt~r ol su~ct rph~ to tM Assousaa+. snd vn~hout nlerMCe to ths ~d~VwcY a u?sd~V~+KY d
*.wa ~ n~~- t!x s~.4re~cY e! ~s~!rensx o! tA! Matg~- srd thai such rents. aohts. ~ncomss. ~ssws. i~d rewnws shaN
::x.ac::~~......
pe appi,ed py such ncNwr to tM pafine~t o1 tM mwtp~p~ ~nd~Dadn~ss. cosa and chsrpes. accorAu+p to tne ade. ol sucA couh
1 O That ~n the ewnt the own~rsh~p of tM rtwny~y~d W~~s~s. a urV Part tl+sreof. b~comss wsted m s parsa+ other thin ths Mortya9o?. the Assceatwn msY.
Mnthout notKe to the Matpsya. dNl antA wch wccessw or sucussas x+ mt~nst anth rolennct to tlus mortys9e snd ths dsbt Mr~b1r ss~urad. ~n ths same
manner as Mnth the Matqspor. vnthout u~ ~~Y w~11 v~ww?p a d~sc?yrp~np tM Mlonpsqor's wabMty hsrwnder a upo~ tAs d~bt tier~bY secund No ssle o! the
pranuses hereby mor[qay~d and no IorDsar~na on tM pWt ol ttw Assoc~atar+. s~+d no eat~ns~a+ of ths ume fa che paymer?t of tM d~bc nereby secursd qwsn
by the Associatan. shaN oparat~ to reNas~. ~uharp~. nadfy. ch~rqs a ~N~tt th~ orp~nsl Wbhty o( ths Mwty~pa Ix~e~n. ~tMr ~n w1w1~ a~n pan
1 1 That ~n the evant tM prertuses hsr~blt mo~tqsy~d. or ~n1r part tl~usot. shaN b~ ~mMd and tak~n under ths power o( em~nent doma~n. tha Assoaatan sh~N
have the ngM to demand that at1 dsrns~s sward~d tor tM tsku~p of or aywy to sad premaas sh~u bs psd to the Auoc~suon. ~ts wccessas o? ass~g~a. up to
the amount then unW~d on thn mortqay~. and may W ~pp~~d to u+y wms Isst paysbl~ hereunde~
12 Tha~ ~~me ~s of the essence of ttus contract ~nd thst no ws~wr of any obhystan hereunde~. a of the oM~gacw~ secwed hereby. sna!I si s~y c~me ihereahe~ be
held to be s warvsr of tAS terms he~~ot or ot tM prom~ssa~ note secured hsreby.
/3 In t1+e evem of arhr dehutt u? u+y d tM tHms of tMS mortys{~s. or ~n th~ ~ot~ s~cwed he~ebY• snd a~cNe~atan by the holdsr. a sny othar s~tuatan tAat would
cause the ~nterest pad a p~yable undK tha oW~yatwn to ~ace~d th~ ~ntsr~st rst~ author~:ed by law. tMn ~n such svant st~ eRCess ~nterest thsretofore pa~d sha~~
be crecl~ted to pnnupal snd aq sCCrwd snd unp~~d ~:uss ~nl~tpt shiU absta and S1~sU not be sn obl~~sian of the make• a ol u+Y other person
14 That to the eatent ot ths ~ndebtsdryss ol tht Mortwqa to the Assoc~~tan descnbed herwn o~ secured hereby. the Assoaat~on ~s he?eby wbrogaeed to the I~en
! or I~ens and to the rphts o( tha owner sn0 holdu tMnof oi esch u~d ~very mortpspe. 6e~ a other encumbance on the Is+W descnbed here~n. wh~ch ~s pa~d and
~ ~ saushed. wlwle o~ m psrt. out o1 tlw procNds oi tM Iwn d~scnb~d here~n or secured hereby. s~d the respec~~ve 6ens ot ssd mortysQes. hens o~ othe. e~-
~ cumbrances. sha11 be. and the sams u~d ~~ch ot tMm hereby ~s ptse+vsd snd sh~N psss to and be ~e~d by ths Auouatan hereu~ n secw~ty Iw the m-
i debtedness to ~ne Assoaatan here~n dtscr~d a Mnby s~cursd. to tM s~me ~:tent Mst ~t would have been Meserved and would hsve bee~ Wssed to and
~ been held by the Assoa~UOn had rt b~sn duhr and rsQularly aupn~d. tqnsferred. s~t over. snd deWvc+ed unto the Assouatan by separste deed ot ass~nment-
no[w~tnstandng ths tact thst the s~rn~ may bs sat~sf~sd ~nd uneslNd of record. ~f beup tAe ~ntentan ol the parUes hereto that the same Mn11 be ssusf~sd ar+d
cae+ce6led ol rscwd Dy tM ho~d~n thereoi ~1 a about tM tun~ of ths r~Cad~~p oi tMs mortqaye
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~ 15 That A iny of the Sums Ot money hMM~ rt~Mr~d t0 b0 not p?On?ptM ~nd tu11y p~~d vr~thM tMrty (30) daYS nett after th! sime SevNilly become du! irW WYa •
~ or ~l each snd every ths sapulstans. sp?eements. cw~dtans ~n0 covensnts ol sad prom~ssory note and th~s mwtyage. o~ erther. are rai duly pe~amed. com-
pt~ed w~th a~d abded by. ths spprepste wm unpi~d und~r s~d prom~sswY note snd th~s mortgaye shau become due and payable torthvr~th w thereaher. st the
~ op[wn ot d~e Assouatan. as fu11y a~d cornpNtNy as d s~~d ~pprpan wm oi money were w~y~naur supuWted to be pad o~ such da~. anytMny ~n sad
~ prom~ssory rwSe w he~e+n to the contwry notw~thstuidnp
~ g Tnat ~n wder to accelerate the msturrty of th~ mdebtednass hsreby sscu~sd Dscause of the ~s~Mne o1 tne Mwtgagor to WY ~Y ~ax assessment. bsbl~ty. obbga
t~on w encumbrance upon sa~d p~Opsrty ~t hNSm provded. ~t sAill rqt be Mtlssiry ~Or re~,~s~~e tna~ tne Assoaauon s?wn i~rst pay the same
17 II a converance shouW Oe msds by the Mortpaya ol tM prertuses Mrem descnbed. a any part nereof. and ehe y~antee named ~n such conveyance fs~ls a
refuses to aswme the paYment of the oDlpsta~ erdenced by ss~d prom~ssory note and securgd py th.~s mortyage. and m accordance w~th the~r respe~:t~ve
terms. and sbde by the rutes snd re9ulatans ot the Assoastwn. ~nclud~np Dayment of s ress~naWe transfe~ ~ee then. and ~n that event. at tAe optron and upon
the demard ol the Assoaatan a11 wms of mon~y sscured hsreby sRall ~mmed~stely Decome forthvr~th due and payabla
1 g Ttiat tt~e abstrxt a absuscts of tdk covennp the mwtpay~d p.opsrtY sP.a~~ st su e~rnes. durrng the I~fe ot ~h~s mwtgage. rema~n m the possess~on ol the
Assoaatwn and. m event of the foreclosurs of tMs mortope. w o~her trsnsfsr o( utk to the mortgaged p~operty, m e¦ungu~shment o~ the ~ndebtedness secured
hereby. all rgAt. utte and ~nterest ol tne MortQa9or ~n ~nd to any wch abstracts o1 utle s?ws1 pass to the {wrchaser w g~antee
t 9 St~uld the ral.d~ty or I~en of tMS mortyspe. or the note secursd thsrepy. be contested by hugatw.~ o~ othe.w~se the Mortgago~ ag~ees to pay to the Assoaatron
~he cost of defenMng ~he sa~ne ~nctud~np s reasonsbte ~uwney's fse
20 To pay aN and s~ngular the costs, charges and e:penses, mckrdu?g attorney's fees reasonaWy mcurred. a pa~d at any t~me by t1~e Assouatwn. because o( the
~ (a~Iure oi the Mortgagor to per~am. comply vr~M snd adde bY each and every the sbpulatwns. agreemenls. cond~tbns and covenants of sa~d prom~ssory note
arW tn~s mortgage. or eitix~. ano every sucn ie:cept ia ine pavmem vi ii~a ~~.~,~~ti~ ~.~sse~~~~~~~: es :~yu by ::.x :.:.:s-~c:~ r~.a!! lxa: .^•e•~t !rom
date at the rate ot ten per cent (109N per a~num untd fully pa~d.
21 The Assoaatan shall have the ngAt at snY bme ~nd irom t~me to t~me and w~tAout no:~ce to or cansent of any person [o la) ~e~ease any portron ol the prem~ses
from the I~en of trns matyaps. (b) roluse any psrson baDte lor psyment o1 sny ~ndebtcdness secwe0 bereby. (cl eatend tne ume ot payment or alter the terms
of paYment ot all or any part oi tM u+debadn~u. vwthout ~ft~cunp a ro~esunp ~1x pe~so~a~ babhtr ol any person haWe lother cnan any person reieased pur-
suant hereto) lor the payment of anY wm p mte~es! sscured heroby snd wuhout ~n any w~se altenng. vary~ng or d~mm~sh~n9 the }aces. eHects. a I~M of Ih~s
mortgage a+ all the prem~ses not speufKatly released Irom t~+e ~~en o~ tMS mort9aye by the Assoaat~on '
`A` 22 Any agreement hereaher made by Mortysyor and Assoaatqn punusnt to tMS matyaqe shatl be super~pr 1o the ngnts ol the noWer o~ any ~ntervemnq ~~en o~
~
~ encumbrante I
~ Z3 U~x,n „~.,est of ARortgagor. the Assoc:ai:on may. ii stt sCl~ optwn. trom l~rs:e to t::r.e. beSore tu!! ~aYfT•er.! 01 a!! ~ndcDted^ess secuced ht+eby. make luitt!e! ad
vances to Mortgagor, prov~ded, however. that tM roiN pr~neWa~ secured hereby snd rema~n~ng unpa~d ~nclud~ng an~ such advances. sha~~ ~ot at anY t~me ex
ceed the org~nal pnnupal wm secu~ed hereby Mwtp~por shall pay all such turther advances wnh ~ncerest and the same shali ba secu+ed he~eby AU p~rnns~ons
~ ot th~s mortgage sha11 apph ~o esch further ~dvance as wN~ ss to s11 otMr ~ndeOtedness secured hereby Notn~ng here~n co~ta~ned. nowever, sha11 4m~t the
~ amoum secured by th~s mortgage ~t wch ~mour.t ~s ~nuused by advances msde by the Assouatwn. as herem elsewhere prov~ded Iw to protect tAe secunry
24 In the evant the M«tgagor here~n. w any wbsequenr Mortgaya. a a~y person p capaatan owrnng any mrerest whatsoever. shoutd encumber the propertY
here~n mortgaged by an ~nstrument commonly reterred to a~d known as a'wrap around mort~ge wrthout hrst obta~rn~g tfie wrnten consent o~ the Assoaa y
~ twn, then. at the optwn of the Assoc~atan. the oblpstan secured by ti„s Mortgage sha11 ~mmeA~ately bewme due and payable
25 To p~ov~de tt~e Assouatan Mnth ffood Insuraoce Coversge d the ~eal property ~s now or hereafta determ~+ied to be vnth~n a speaal flood haiard a~ea as shown
o~ Flood Haiard Boundary Map~Floocf Inswsnce Rate Map ss puW~shed by the Federal Inwrance Admm~stratan
_ 28. At the reques[ ol t!N INtortp~pa. t1» Assoa~ean ~prNS to w~~w th~ prows~o~s ol p~rpraph 4 re~abve to ths ueatwn ot ~ naisrd ~nswsnce sccoum. prowd~d.
haw~ver, thst the Assouat~on r~uu+s tM rrpht, at ~ts opuon. to n-i~ntat~ sucA pansans of sad parapraph t ss sn odpatw~ of cna Mortpspo. ha~undsr upon
the happsrwrq of arry of tM idlowmp
A Fsdun co msk~ ~mr psym~nt nqua~d u~d~r tM nrms M tM noa on a Wfa~ tns dw d~a ths.sol
B. Fs~1uro to comph nnth tM msw~na prw~~ons of p~rprph 3. a of ~~y o/ ~M otMr u.ms ~nd cond~tans of thn moriqsps o. not~. a nntl+ ths ~nsunnu
requv~ments wnt~:n~d N+ tM Wc1u~Ua+ M Condornr+wm ~nd rNaud dowm~nts shouW iM mwtflspsd pop~?ty bt cwnm~u~d to co~do~rrrnum
~ ~~n,
~ (C)-M-7~ -
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