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4. T~~s~. u+ wdK to p+oact mor~ Iu1N tM wcur~ty o1 thu tM Matpp~ top~lAa w~th. ~nd ~n ~ddrtqn to. tht manMY paYm~nls w~da th~ qim~ ol tM •
not~ s~cur~d tnnby. on tM W~uMd WYmN+t dat~
ol~monM unM1M ss~d not~ ~s IuUY W~d. w,U pay ~o tM Assoc~aiwn tM bNOwr+p w~++s • ~
1~) M~nsiNlm~nt M tM tu~s ~nd asNSSrtNnH Nw~d a to b~ MvNd tpaW?sl tM p~miNS tor~W by tlus matp~g~: snd sn Vataum~nt ol tM pnm~um
a p~mwms tMt w~M b~ean~ dw aW p~Ya~M to ~a+rw tt+~ ww~nc~ on tM p~m~s~a cowrW M~Wy aps~nst b:~ by tu~. and w~ndstam. ~s pov~dM ~
ta bY Pu~Wao~ 3 P~K~q~ a wd? othN Mi~rd q nur ~~aioMWr W~~Ww~d bY tM Aswaatan: ~nd ~n w?suum~?t o1 tM prt~wum th~t vaN
b~p~y dN ~nd p~YabN to ?a~w tM mortpsp~ ~+rant~. d ~ny SucA wtluWn~~ts shall b~ aWS1. nsp~cuvNy. to on~•twNhh 11112th10l tM ~s-
. t~mstid w~mwm a pr~nwwns fa wch w~w~ar?u. and ua~s a~d sss~stmK?u ~xt dw la ~stir~stW bY tM Assoustan) Nss ~N msatlnwnts ~M~+dfi
psd t?wrNor. diWd~d b~r eM nwnbN oi montM cMt sn M ~4p~ on~ month prw~ to th~ dau wl»n wd~ pnmwm a p«mwms and tu~s a~d
ssstssn~nts w~N acom~ dNirquMn TM ANOwtqn. wh~N ~pplyinp wch paym~nts lo uiwqnt~ p~mwms. Uxp ~nd ass~ssm~ntt bda~ tM s~m~
b~coms dNmaNnc shaM i+a ow mnns~ 1o cM Mort~por on such fi,~da. uW aM sueh o+we~+n m~Y a cor^^+wWNd bfr tM AssocWUa+ Mnth ~ny
o1hK wch fumis a wKh ~ts own tunds- TM funds an pNdp~d as adda~a+N s~cunty br tM wma t~cwM ~Y ths Matq+p~ ~nd ~n sub~ct to us~ by
th~ Assocation in ptymMt W"I~t~ tMrpN" v~d b~~ coMatwn cMrp~s
(bl AN p~ym~nts mMtia»d m iM p~K~np WGs~Ction o1 tAis p~~sprsph snd sN piymMts to b~ msd~ u~~ tM not~ s~turW henby shaU b~ sdd~d
topsthsr snd d~ ~yprp~b smount th~rpf sh~M b~ p~d by IM Matpaya Nch ma?tA m a s~rql~ psYmM?t to b~ sppM~O by tM Assoaauon to tM ~
(ollowmp it~ms m tM ordM t1t 1orM. 1. Tu~s. ~ss~ssmMts. u~d msw~nci Pr~mwmt 2'"Lau charp~a" and Wnk cdNctan chary~s. unNu pa~d ~n i
msm~. prov~dW in paapqph 4(sl. 3. IntK~st o~ tM nou Mcwsd Mnb~r. 4 Amort~suon of tM pK+cps1 0l s~~d nott
t nnv a~t~y M d» snw~ra o~ wd+ ppr.p~a mo~ninh wrm~na snsa. unkss wd M nr Monpapo~ t?na ~o ur dw dn~ ot u~ ~sa~ wd+ wvm«+c oon-
stitut~ sn w~nt d d~fault undK tM mortp~p~. Vlfithout waiv« d anY riDA~ tM Asaocatia+ m~y cdNct ~"4n dMrys" ss Provid~d in tM Note.
5 That d ths tobl d ihs p~ymM~b msd~ bY tM Mortppa wW~r (a) ol Pup~Wh ~ Dnc~np shaM ucyed tM smount ot P+Ym~r?ts xtwNy m~ by tM
Assocatan ta tus snd assasn+Mts ~nQ wawMU P~~aums. a th~ cew n?~Y b~. wch ~u~ss sMu bt c~«4t~d by t1r As~oc~st~on on wbs~vuaN paYmeots
to be m~de ~y th~ Mort9pa. H. how~wr. tM monthly p~ym~na mad~ by tM Monp~~ u~ 01 psrapraph 1 p~cW~rq sh~11 not Mw b~en wfhc~a+t to
pay q~ces snd sssessmM?ts and r~swM~e~ pnmwms. ~s tM eas~ m~y b~. wMn tM s~m~ slqN b~tom~ dw and psY~b~s. tM~. tM Assocwtan may. ~t ~ts op•
tan. unmsd~stdy ps~r wch tu~s N+d ass~sun~r?ts u~d mswNip pnmwm. uW tM Mw~~pa cMN psy to th~ Aswcwtwn sny ~mount ~+~c~sssry to maks up
~ne d.rK~,..~a wa+ w,rm«H snw a d~..~,a P.,~.a. w~uw, in~„ ~30~ ars,n.. ?n. at. o~ ~+s~w~ a~w~K. n,r in. n.:«wca~ ~.u~ i«tn ~n. s~,o~m~
01 wd+ d~twwncy. 11. ~t sny tim~. t1» Mortprpw shW [«+da to tM Assoeaaon. in ~ccordanu wrth eM wwnswns ol tAe not• secured Mnb1r. fu1~ psym~nt o1 ~
~he anar~ u~d~bt~drwss np~wnt~d 1~~by. th~ AssocNtan shaM. a+ compuunp tl+~ ~mount ot sucA ~nd~badn~u. w~t to tM ~ccou~t of th~ Monpapa sny ~
. bilence r~mawwq m th~ tw~ds aecumul~t~d ut~dM tM provu~o~s ot (al 01 p~rprpA 4.
6 To psrrrot commit a wiNr no w~st~. ~rtp~WmMt Or d~tMqqtqn 01 M~d pOpMty. O~ ~nY pi~t tlN~eo1. ~nd upOn tB! ~~dure d tM MwtpspOr to kMp tM
bwldmps on sad D~aDMb in qood Cor~don or rpMr ~nd m~intN~s~x~. tM Assoc~stwn maY d~mand poP~~ mmlMUncs snd tM urrn~d~at~ rpw ot s~d
buddx~ps, p an i~ n th~ smount of Ncunty. a dr mwmd~aq np~ym~ot o~ tM d~M h~nDy secw~d. ~nd tM y~hxs o1 ~h~ Monypa to oomp~y wnth
said d~mand W eM Aswwtwn Ia a paiod ot thKty (30) d~Ys sh~M oa+sUtut~ ~ b.Neh o( Urs mor~yaps. snd. st tM optwn ot tM Assocytan. ~mm~datdy
mstws d+~ ~nnn ~moune d prN+ciw~ snd intK~st 1+enby a~cund..ne eM Aswastwn ~~~tNy and w~u~out noao. rnsy u~suw~e w~ ~o ~oncas.
ths mortyps and apply iw th~ ~ppdntrn~~l of ~ r~tN~r~r. p hMwNft~t prov~d~d: ~nd m css~ ot tM r~fusal. r»pl~tt p ~n~bJ~ty o( tM Mortqspor to rpsu snd
mamu~n pid prop~ly. t!y Asaoc~stqn maY. at nt opta~ malt~ wch nPMrs a cwa~ the qrt~e to b~ mad~. snd advanq mawYs w? iMt bN+sN.
7 To perfam. tanply vhth md sEids Dy Neh ~rd ~wry tl~s st~pu4tqns. prNma~ts. ca~d~tlor?s and cownsnts m s~~d prom~ssay noa and this mort9sp~ set
tath
8 To con+ply vmth tM wbdivision ~atrictioos snd iM mu~ruWl iprrq adu+snus ~pplicabk to tM mortpsy~S DropKtY: not to sr~ct a perm~t to M er~ctsd +~w
nsw bu~dwgs on tM pnm~s~a I+K~in mortp~p~d w to add to or pamt to D~ add~d to. m~ke a psrmit to bs mad~. ~ny suuctursl altK~tans to ~~y ol tM t:-
~suny ~mprov~m~nts tMrwn vinthoW tM w?itt~n eonwat of tM As~oci~tion: and ~n tM ~wnt d u~y wolauon a sttempt to valste th~ss sapulstian. a sny of
tl+em. this mortgp~ and aN wms s~wnd Mnby sh~M ~mm~dutdy O~com~ dw snd psy~bN st the optan o1 tM Associat~on.
9 That in cass ot s det~uh r+ ~ny ot th~ terms of th~s matyp~ ~nd tM 6bnp d a biltt to lonclos~ Uw or ~ny othsr monqsps ~ncumbenng tn~ anthn Osscnbsd
propaty. tM Assocwtwn shsll b~ ~nMNd to ~pp1y. ~t sny t~ nntnout not~n p~ndmp wch fonclosun sw~. to c1w oou~t hsw~p wrad~cuon ttwrsot fa ths sp-
pamment ot a neeiwr ot M snd Mnpulsr cM matyp~d Propx~Y. ~+d o1 ~N tM rn~ts. rreo+n~s. wotiu. awes ~nd nwnues thawt. from whatswvs. sowu
dK~wd: srd. tl+a«qon. A a MaDy wp~ss~y cown~nt~d snd pr~A th~t th~ court sAaY torthwdh appant a rscena of ssd monpap~d proPerlY- sN and
sw~guls.. sad of wM nnts. incom~s. prot~ts. issws ~nd nvMw~s tAawt. trom whstwevK sowce dsnwd. vmth tM ususl porvers and duws ot r~omvsn ~n Mke
csses, and such appointment ah~R b~ msd~ by wd~ eourt ~s a m~nK or stnct npAt eo tM Assocwtan. and w+tlwut rotsnnce to tns sdpusey a insd~qusctr o1
ths wlus cl the propaty he.bll maty~p~d. or to tM sdv~ncy a uisohe~+cY of tM Matp~por. and th~t wcA rents, profits. ~ssues: snd revenws shsu
be sPP~~ M wch ~~wr to tM p~~msnt d tM matyps wdbt~ss. costs and ch~~pss. sccord~np to ths adsr ol such courf o
10. Thst in the svent tM owrw+shiP of tM mortp~q~d pronwt~s. a anY Pat tMrwl. b~ton+~s vest~d en a De~so~ otha than the Morty~go~. tM Assot~~tan may.
vinthou~ noace ro tM Matpspa. dql vinM wch wc~ssw a s~+cpssas m intK~st vwth rote.enoe to ths mortysps snd ths dsbt he?eby s~cured. ~n tM s~ms
mamer ss wiM tM Mort9~por. vmthout in s~r wap v~wwq w disch~rpmp ths Matppa"s Gabib herewider a uPa~ iM debt hereby sswred No sals ot tAe
pems~s hsr~ mwtysp~d snd ~o torDNqna on tM pKt of tM Assocytwn. and m e~ct~~san of the tims fa ths psyment o1 ths debt hersblr s~cu?sd ynen
by the Assoastan. shsM oDa~b to rN~ass. dacharq. mod~fy. ch~np~ a ~H~ct tM wpmsl Wbd~ty of the Maty~ya herNn. MtM~ m wlwle a m part
t t That ~n the event tM p~mis~s I+aN?y mortyay~d• a any p~n tMnoi. s1+sN b~ oor+d~mrrd ~~d nken unda~ ihe powe~ of ertw~em domsin. chs AssocNtan shaM ~
Asve the npht to d~msnd thst sN M~+spss awudsd fa d+~ takinp of a uyury to ss~d prem~ses s~su be psd to ths Assoc~stnn. ~ts wccessas a ass~prK. up to `
Me amount tt?en unpaid on this mortpsp~. snd may bs ~pp~d to any wms last paysbla hawnde?
12. That ame a of the esse+xe d Nrs contnct ~nd tMt no ws~ve~ ot ~?y obtpstan he~eunde.. a ot the oDlpatan secured hereby. shs11 st arnr t~me tAereahe. be
hetd to be s waner of tM tarms hsreof w o~ ths promawry rats secured hereby
13. In ehe event oi airyr dehuh ur arqr d tM terms oi tMs mortyspe. w in ths note secw~d heroby. and acce7entan by the holder. o~ any oiher s~twtan thst would
cause tAe ~nts~est p~id or psyaW~ under Urs oblp~uon to ~acNd the u+t~rest rate wthaued by law. then ~o such svent sll eacsss mterest theretofore p~~d shsll
be aed~ted to pnnapal ~+d ~N sCCrwd snd unQ~id ~xctss mtenst sh~ll ~te aod shsll rat be an oblpstan of the maker a o~ sny other ppson.
14. That to the eatent of th~ N~dsbtedn~ss ot tM Mortpspw to tha Assoaaaon dssuib~d hera~ a sscured Mreb~r. the Assoastan ~s hsreby wbroysted to ths I~en
w l~ens and to the rghts d ths own~r and hold~r tMrsot o1 ~sch ~nd twry n+atp~pe. l~en or other encumbrance on tM bnd dsscnbsd hers~n. wh~cA n psd and
sausbed. in wlwls a w? psrt. out ot tM P~ocNds ot tM b~n dssu~bsd I+Kar? w s~tund hersby. end the ~espetuve bsns ot ssd mortpspss. bens or other en-
cumbrances. shsU bs. and the s~m~ snd pch of tMm hK~bY a pnserr~d and shsN Psss W and be hald by tMs Assoaat~a~ hermn ss sscunry ta the ~n-
debtedness to the Assodation haNn descnb~d w ha~bY s~cund, to the sams extent thst it would hsvs been Drsserved and would havs bes~ Pssssd to and
been held by tM Associstwn had it bsen duy snd npuia~ip sssqMd. tnrahnsd, pt ova. u+d dehvered unto the Assoustwn by ssparste deed of assgnment.
not~w~thstarwLnp !he fact thst tM ssm~ may b~ s~usbsd and c~ncelkd ot rscad. rt beu~p ths ~ntentan ot the pubes nereto thst the same w~il be ssusf~ed and
cancelfed of rscwd by ths hold~rs tMr~oi ~t w ~bout the tune of ths recwduq of this rtwrtpspe
15 That ~f any of the wms o( monsy Mnin ret~rred to bs rot promptly ~nd fuNy p~d MntMn tlwrty (30) daYS ne~t aher the same severally bscome due snd paYable.
' or ~f each snd avery ths snpulano~s, sprNments. conddans and oov~n~nts of ssd promasory rate snd tMs mortgape. a e+the~. aro root duly perlamed. com-
j phed vmth s~d abdsd by. the s9prp~ts wm unp~d undk wd p~om~uw~ note ~nd ths mortpape shs~i become due u~d paYable ~orthv~nth o. theresh'u. at the
G optan of the Assoc~st~on. ss luuy and canpletdy as ~f sad ~pprp~t~ wm ot mw~ey were or~naMlr supulated to be paid on wd+ day. snytlrnp m sa~d
pom~ssory rote a herem to ths contr~ry notw~thstandmp. c~ ;
16 That ~n wder Io sccelerate the mstunty ot ths mdsbtsdness Mrsby aecund because of the b~ture oi the Matysyor [o psy any tax asssssment. 6ab~Uty. obl~ga- (
tan or encumbrsnce upon said p?opsrty ss hereu~ porded. ~t sAsll npt be necessary na reqws~te thst the Assouatan shall I~rst paY the same
t 7 H a corweyance shou~d Ae mads bY the Mortyapa of the p~e+rwvs hsrem descnbsd. a srry psrt Aereo(. and the prsntee named ~n such conveYSncs bds a
~ re~uses to assume the paymsnt ot tM obtrystan er~dsncsd Yy s~d prom~ssory note and sewred by th~s mortgage. and m accordancR vrrth the~r respective
! terms. and ab~ds by the ruks snd rpubt~ons o~ tM Assoc~auon. u~clud••.q psyment of s reasonsWe transfer Iee. ~hen. arW ~n ~Aat event. a~ the optron and~ pon
~ the demand o( tAs Assocwnon s~ wms ot morwy s~wrsd Mreby shs11 ~mmed~ately become forthnnth dus and paysWs.
18 That the abstrxt a absuscls of MN cow~Kp ths mutpspsd props?ty sha~~ at sU bmas, dunny fhe ufe of th~s mortgage. rema~n ~n the posseuw~ oi the
Assoc~atron snd. ~n event ot tAe taecbsure of this mortpsye. a other trsns(er of atk to the matgaged poperty. m a:ungu~shment oi the mdebtedness secured
hereby, atl rght. trtte and ~nterest o1 the Mortppor ~n and to sMr wch sbstrKts of btb shaU pass to the purchsse~ a grentee
19 Should [he vstd~ty or Iro~ of tMS rtartysps. w ths rate secursd thersby. be ca~tested by hbgatro~ o. othervnse. the Mongago. agrees to pay to [he Auouatron _
cne cost ot defend~ng tns ssme u~dud~ny a.easonable stta~ey"s tee
20 To pay all and singulsr the costs, charges snd anpenses. inchid~ng attorney's fees reasa~abty ~ncurred. a paid at any dme by the Aswuation. because ot the
~ fallure o( the Mortyagw to peAam, comply with and abde by esch and every tAe stipulatwns. agreements, cond~twns and covenants of sad prom~ssay rwte ;
~ and this mortgage. a e~ther. snd every wch ls:cept (a the payment d the monthly ~nsta~knent as requlred by the Prom~ssory Notel shau bea: mterest 6om :
date at ths rata of 15~ per annum uati 1 fully paid . ~
~ 21 The Auouata~ sha11 h~ve ths nght at any ume snd from t~ms to bms snd vntlaut notKe to a consen~ of any person to (a) re~ease any pwtwn of tne prerruses ~
from the ben of this mortgsys. (b) relssse any psrsa? hsbls tor paymant of s~r ~ndeDtedness secured hereby. Ic) e~tend che bme ol payment or slter the terms
o~ payme~t of aN p any part of The indsbtedness, nntl+out aHacunp w roleas~np the personal bablrty o1 arry person uabb lother than any person released pur-
want hereto) /m tFie payment d sm wm a~nter~st sscursd hereby snd antAout M sny w~se alfenng. vary~ng. a dinrmslung tAe faces. eHects. a hen ot thn
mortgage on atl 'the prem~ses rqt specditslly retesssd lrom the ben oi tMs mortpaye by the Assocu[ron
22 My ag.e±~^~r^• hereaher made by Mortypa snd Assocufwn purws~t to th~s mwtpaye shaU be wpenor to the r~ghts oi the holder oi arry ~nterven~ny hen a
er?cumbrante
~ 23 lipon .equest o1 Matgsyw, the Auoustwn may, at ib sole opuon. from bms to ume. befwe tu~l payment of al! ~ndebtodness secured hereby. make turther ad- ~
varxes to Matgagor. prmnded. however, th~t tM total p~nup~l secured hereby snd remam~ng unpa~d. ~nclud~ng arry such adrances. shau noi a[ a~y ume e+- ~
~ ceed the or~nal pmapsl wm secwed hsnby Maty~Qor sha11 psy ~II such further advances vn~h ~nte~est and the same sha11 be secured hereby- AN p.ov~s~ons
~ ot th~s mortgage shall apply to esch furthsr advsnce ~s vrel! rs to all otMr ~ndebtedneu secured hereby Notlung here~n conta~ned. however. s~aU hnut the
~ amount secured by tAn mortysge d wch amount K mu~ased by ~dvances msde by the Assocratan. as herem elsewhere p~ovded fw to protect the secunry
~ 24 In the event the Mortgagor harein. a smr sut?sequent Mortgayor. a any person o? corpaatro~ owrung any mterest whatsoeve~. should enwmber che popertY
~ herein mortgaged by an instrume~t wmmonly referred to and known as a"wrap-around mortgage" vnthout first obta~rnng the wntten consent of the Associa- ,
~ twn. then. at the option oi tl+e Association. the obligatio~ secured by th~s Matgage shall ~mmedwtely become due and payabk
~ ?5 To provide ths Assoaation with Flood Inwrance Coverage i1 ths resl property ~s now a hereaher determ+ned to be vnthin a speusl flood hazard area as shown
g on flood Hazard Boundsry Map/flood I~wrsnce Rate Map as puW~shed by the Federal Inwra~ce Adm~MStratan
~ 26 At ths raqusst oi ths Matysya, ths Associ~tion sqnss to wsivs the p?ovisions o( pa?apraph 4 relatiw w tha c~sstion ot a taa snd husrd inswsnce account:
~ providsd, howevsr. thst tM Associstion retsins ths ripht. at its optan. to re-insute wch prohsions ol ssid psrsgqph 4 as sn oblig~tan d tM Morty~por
~ nwi.w~ds. uvo~ tn. npp«rnp a.~r ot a» toNowinp:
~ A Traruler of the matgaged pmm~ses. or any part Mereof B ia~lure to make any payment required under the terms ol the ~ote on or befae the due date ;
thereot. C. To deliver to ths Association. on or betore Msrth 10 0( each yeer. W: rece~pts evdenung the paYme~t of aN lawfully ~mposed taxes (or the i
precedinq wlsndar yesr. ro defiver to the Association recepts eviderxe?g the payment o( au bens tor puW~c ~mp.ovements wittrn ninety (90) dsYs aher the
same shaN bscane due snd payable. and to psy or d~scclNrge nnths? ninety (90) dilz aher Que date. any and alI governmental levies thst may be made on ~
tAe matga9ed poperty. D. Failura to tomply nnth the ~nwnnce prov~sans ot paragr~h 3. a pr sny oi tt~e ot~ te~ms and ionditans ot tMS mortgags w
rate. a with the inwrance requvements contained in tM Oeclaratan of Condom~MUm and relateddocuments sTidutd thNfMdrtspged property be comm~ned '
to cwKlominwm developmeM ` ~ %n`~+ % • • . CCirl~ : ~
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