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That. M ad« to potecl more hilly tM security d the mor .the Mestgaga. to4eth« with. and in add~t+on to. the monthly paynants und« the t«ms d the
note severed heroby. on the spapbed payment data d eadr month urgJ tM sail everts a ArMy patd. wrN pay to the Asaoaatan the IoMowr+g twins
la) An rrattiNrnMt d tM taaas and peepntents levNd es q W NvNd agarrat tfta pramaas wv«ed by the mestgage. and an rnstaNrMnt d tla pemexn
or premiums tMt wiM tatoortta dw and payable to reraw tM atwrenca on tM premrsp covered tareby apawat b:. br foe. and windstorm. as povded
~ by P«apraph 3 precadrq. a tuM other hazard as may rNaorably W raquwed by the Associatan, and an rnstallrrrent d tM pemrum tMt wrN ~
become dw and payable to renew the rttortgape imwanp. i1 any. Such insbllments shall W equal, rgpectrwly. to ora•twelhh I1/12th1 d the es-
tinated promium Or promiwrts lOr such irawanCa. and taxes and assassrrtents neat due less esumated by tM Assocatan) less aN instawnents akeady 4
pad th«elw. divided by tM nwnb« d month tMl «e to elapse one month pwr a tM daa when wilt premwm a pemwma and saes and i
aspssrrt«?a vviN beoorra dakrtqu«N. TM Association. whits eppNing ouch payments to wawartce prerrwrns. taxes artd aspssn+ertts. Wore tM prM
tacara deMrtgwnt. shah not pay ntarest to tM Mortgagor on such lands. and W such payments may W wrrwnrrgled by tM Assocation with any ~
oM« such lands or wrtA its own lwtde. TM bards aro pledged as additional seaurty for tW sums severed by tlw Mortgage and «e subpct to use by ,
tM Association in payment d "leN ch«ges" and bank otrtledion dt«gp-
Ibt AN payments mentioned N the pepdirq tuWectron d tlas p«ag?iph aril aN payments to W made urd« tM note secured h«eby sheN W added
togetMr and tM agpregea amount th«ed shah W pad by tM Mortgage each month in a s,r?ple payment to W applad by the Assocrotron to tla
Idlowiep items in tW ord« set Iorth: 1. Ta:as. assessments. and mwnnu pnnums 2. "Ufa charges" end bank coNectan durges. unless pad m
mam« provded in p«apreph 4 lal 3. Int«est on tM noq severed h«eby. 4. Amortuatan d the pinapsl d sad rata.
Any deficiency in tM smottrit of
each aggrpaa moatNy peyn+enb shag. unless paid by eM Matgsgor prig to tM due dots d tM next such psymer?t. oon-
stnua an event d default urd« tM matgepe. Without vraiv« d any npht, tM Assowbon may wNect a "lets dwgi' as provided in tM Note.
S. That it the total d its payments made by tM Mortgagor under lal d p«aproph 4 pecedmg shah exceed the amount d payments xtueMy made by tM
Association for taxes and asseprrtertq and irawana premiums. as the case may W. such excess shah W credited M tM Assouatan on wbsagrant payments
to W made by tM Mortgagor. H, however, the monthly payments made by tM Mortgage urd« lal d paragraph 4 pecednq shah not Mw been wffita«rt to
!uY taxes and sspssm«?ts and inwrartCe pemwms. as tM case may W. when tfa same shah became dw and paysbN. then. tM Assodatan may. at its op• i
fiat. immedately pay such taxes aril assessments and iraorartq perrwum. end tM Matgeges slap pay to tM Assocrotan airy amount necessary to make up
tM deficiency. and such payment sltaN W dw and payable within thirty 1301 days ah« tM date d madu+g of notip by the Assoastan pttrng IoM tM amount
d such detcisncy. If, at arty time. tla Mortgages shah terd« to the Association. in accordance vnM tla provisions d the note secured hereby. h,N payment d
the entire irrdebtedrrep represented h«ebY. tM Association shall. in wmptrting tM amount of such nedebtedness. ued~t to the accowtt of tM Mortgagor any
Wlence remsinrrg in tM funds aevemuleted und« the provisions d lel d paragraph
6 To p«mit. commit w wfhr no waste. impMrm«N or deteraratwn of sad poperty. or aMr part th«ed. and upon tM (adore d tM Mortgagor to keep the
buildings on said poP«tY u good condition or repair and maintertsrtca. tM Assotaatan may demand pop« maintenance end thrinunedate repair d acid
buildings. a an incrsap in the amount d Nverity. o. tM immediate repeynant d tt» debt h«eby secured. «d tM fa~ure of tW Mortgage to con+ply vnth 1
said demand d tM Assodation for a period d thirty (301 days shall twrabtuta a breech d this mortgage. and. at tM option of tM Association. immediately
mature the entire amount d principal aril int«ast h«abY secured. and tta Association inwnedately and without notce may mst~tuts poceedrps to t«edose
ttris mortgage and appb fa tW appointment d e repiver, as h«einah« provided: and in case d the rtfussl. neglect or inabkty d tW Mortgagor to repair and
rrtsintain said property. the Associatan may. at its option, make such raparn es pose tM same to W made. end sdvartea moneys m that belaM.
7. To p«lam. comply with and abide dr each and awry tM stipulations. agreements. cortditara end covenants in said pomissory rap aril this mortgage set
forth.
8 To wrnPflr with tM wbdnisron ?eatrictioM and the munidpal aorwng oMrartps appkcebN to tM mortgaged poperty: not to «ect a p«mit to W erected any
new buildings on the pemises herein mortgapW es to add to a p«rtwt to W added to. males or p«mit to W made. any structural Nt«ations to any d tM a:-
isting improwrrrertts th«eon vnthout tM written consent d tM Assodatan: and in the event d srhr valatan a attempt to vidate these supubtans. «any of
them. this mortgage and aN sums secured hereby shah uarrtediately become dw and payable at the option d the Assr~ciation.
g That in pas d a default in any d the t«ms d this mortgage and tM (ding d a bill to foreclose this a any oth« mortgage ertcumberirq the within described
poperty. the Assoaation sfuN W entitled to apply. at any flirts twithout notice pending such loredowre wit. to the court harutp jurisdKtion th«ed for tW ap-
pointment of a repav« d sN end singuler the raortgaped property. and d all tW Hots. incomes. pohts. issues and revenues th«ed. from whatsoever scarp
derived: and. thereupon. rt a h«eby eapeasty covenanted end agreed that tM wort shsN /athwrth appoint a receiver d sand nartgsged property. aN end
singular. and d such rents, incomes. profits, issues aril revenues th«eof. /rom whatsoev« source d«~wd. nnth the usual powe+s end dutas d rsceiv«s in kke
cases. and such appointment shah W made by such court as a matt« of atnct right to tW Associatan, aril without ref«ence to the adequacy or aaderJuacy of
the valve of the popsrty hereby mortgaged. a to the solvency or 8aolvertcy d tW Mortgage. end that such rents. profits. intOrrres. issues. and rewrwes shah
W spplrod by such rec«ver to the payment d the mortgage indebtedness. vests and charges. auxxduq Io the ad« d such court -
10 That in the event the ownership d the mortgaged premises. es any part th«ed. Wwmes vested w? a person oth« then the Mortgages. the Association may.
without nouns to the Mortgages. deal with such wccessa a successors M int«est vmth ref«ence to this morigsge and tM debt h«eby severed. in tM same
msrxror as vnth tla Mortgagor. without in any way vruatetg a dacMrgrtg the Mortgagor's babikty h«eurd« a upon the debt h«eby second. No saN d the
penrps h«sby mortgaged and no forbeannp on tM pert of tM Assowtion. and no exteruion d the ume for the payment of the debt h«eby secured given
by the Association. shsN op«ate to release. discharge. rtw~fy. change or aNsct tM original kabdiry of tM Mortgagor her«n, e~th« m whole or in part
1 1 That in the event tM pemises h«eby mortgaged. or any part th«ed. shalt W corwlemned end taken order the power of amurent domain. the Assoaation shah
haw the right to demand that sN damages row«dsd for the Uking d a wyury to said premises shah W pad to the Assouatan. rts wcpssors a assrgra. up to
the amount then unpaid on this mortgage. and may W appfied to any wins last psysbl~ h«eurd«.
12 That ume a of the essence d the contras and that ra warv« d any oblrgstion h«eunder, w of the oWrgatan secured h«eby. shalt at any ume thereah« W
held to W a waiver d tW t«ms h«eof or of the pronussay note secured hereby.
13. to the went o/ any defauh in any d tM terms d this mortgage. a in tW note secured h«eby. and atxelentwn by the holder. or any oth« atwtion that would
cause the int«est pad es payable under the Obkgatron t0 exceed the mt«eat role suthonzed by law, thM M such event aN laps int«est theretofore paid shah
W credited to principal and aN aCCrWd and unpaid capes int«est shall abate and shall not W sit oblpatan d the msk« a d any oth« p«son.
14. That to the satsnt d the irtdebtedtass d tW Mortgagor to the Associatan described herein a secured hereby, the Assouatan is h«eby wbrogatad to tM b«? ~
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saMfrod. in whole or in part. out of tM propels d the loan desaibed h«ein w secured hereby. and the respective kens of sad mortgsgas. k«+s or oth« en-
vembrances. shah be. end the same and each d thin h«eby is peserved end shah pass to and W held by the Assouation h«ein as security for the in-
debtedness to the Assoaation h«ein described or h«eby secured. to the pine extent that it would Curve bean preserved end would haw been passed to aril
been held by the Assodatan had it been duly and ragut«ly assigned, trarafened. set over. and debv«ed unto the Assopation ay sepuste deed of assigrurant. ;
rotnntlatandrng the tact that the same may W ptislad and canceNW d record, it bs+ng the intention of the parties tarato that the same wrN W ptisfied and 1
cancelled of record by the holden lh«e01 at or ibout tM Ume d the reoordaq Ot this mortgage 1
15 That rf arty of the wins d money larsin ref«red to W not promptly and Iteily pad wrtMn tMrty l30) days next after the same severally become dw and payable.
~ a d each and wary the stiputstar?s. agreements. tond~twra and covenants of pd pomasory rate and CMS mortgage. a eith«. are not duty performed, com-
pbed with and abided ay. the sgprsgste cam unpaid under said promasory rate and this mortgage shah became dw and payable fortMmth es thereah«. at the
optan of the Assowatan. ss MNy and completely as if sad aggregate cam d money w«s originaNy st,pubted to W paid on such day. anytMrg in sad
pomrssesy rate a herein to the wnuary rotwithstandirq.
16 That in order to xcelerate the maturity of the indebtedrap h«oby ssaued because of the (adore of the Matgaga to pay any tax assessment. kabhty. obhga-
tan es envembrarus upon pd poperty ss h«em providsd, rt shaN not W necessary raw regwsrte Mat the Assowtan shsN fast pay the same.
f t 7 If a conveyance should W made by tM Mortgagor of tM psmaes h«em descrdxd, or any part hereof. and the grantee named ~n such conveyance tads o.
refuses to aswme the payment of the oWpatan cadenced by sad pamssory rate and secured try tlrs mortgage. and m xcordance v~nth rhea respe~-trve
terms. and able by the rules and reguletiora d the Asstxiabon. inckrdmg payment of a rsasonabk transfer fee. then. and in that went. at the option and upon
the demand o/ the Associatan aN cams d moray segued hereby shall rmmed~ately become forthvnth dw aril payable.
t8 That the atatrxt a atatrxts d title wvsnrp the matgsgW popsrty shah at au t:mss. flaring the Gfe of CMS mortgage. remain m the possessan d the
Association ord. in event of tM faecfowrs of his mortgage, a otter transfer of title to the mortgaged poperry. in eatinguahment o1 the udebtedness secured
Mxeby. all right. title and int«est of tM Mortgagor in and to any such sbsuxts of utk shall pass to the purchaser es grantee
t 9 Should the vakdity a Iron of tlws mortgage. a the rate secured th«eby. W contested by I~trgatan or otherwise, the Mortgages agrees to pay to the Assouatan
the cost of delerding the pine ~ndrrdrrp a reasesable attesney"s tee
20 To pay aN and sirrgrrler the costs. charges end expenses. inckrding attorney's fees reasawbly incurred. a paid at arryr time by the Association. bepuse of tlro
(adore d the Mortgages to perform, comply with and abide by each and wary the stipulatans. agreements. caditions and covenants of said promissory rote
and this mortgage. or eith«, and every autdt (e:ceps for the payment of the monthly instalknent as regwred by the Promissory Notel shah bear int«eu bom
date st tM rate of ten per cent 1109b1 p« amain until ropy paid.
21 The Association shall haw the right at arty time and hom Una to bm0 and vwthout rotrp to or wnsent of any p«son to its) re:sase any patron of the pemaes
from tla Iron of tMs mortgage, (bl rNeap any person kbble for payment d arty indsbtedneaa severed hereby. Icl extend the time of payment a after the terms
of payment of aN a any part d the irrdebtedrass. without aHectvp a releasing tM p«sonal babd~ty of arsy person Iwbk {oth« then any person released pur-
want hereto) (es the payment d any cam or interest secured hereby aril without m any was altering. varying. p drmrnrshurg the laces. effects. es ken of the i
mortgage on all the premises not spsufiplly released from the ken of tMs mortgage by ttro Assouatan-
22 Any agreement hereafter made by Mortgagor and Assocrotan purswnt to tlrs mortgage shag W wperar to the rights of the holder of any intervening Iron or i
encumbranp
23 upon request of Mortgagor. the Asstxiatan may. at its sole opton. from time to time. Wfese fuN payment of aN rrdebtodness secured h«eby. make furtA« ad-
F vsnces to Mortgagor: provided, however. that tM total putcrpal secured hereby and remsuung unpaid. including any such advances. styli not at any bins ex-
ceed the or~nal prnapal cam secured Mreby. Mortgagor shall pay all such furtlar advances vnth interest a:d the same shall W secured troretly. AN povisions
of the mortgage shall apply to each further advance as veep as to all other indebtsdrtess secured hereby. Nothing harem wnta~ned. however. shah kmrt the
amount secured by flue mestgage if such amount a increased by advances made by the Assocytan. as herein eisewh«e povded la to potect tfa sscunty
~ 24. In the event the Mortgages h«ein. a any wbssqusrtt Mortgagor. a any p«son a wrpesatan owrrng any mt«eu whatsoever. sha~ld snwmb« the popMy
I herein mortgaged by an inswment wmmonly referred to and krawn ss a "wrap-around mortgage" witMwt fast obtairwrg the written wnsent of the Associa-
Il lion. then. et the optan d the Association. the obkgation secured by this Mortgage shall rmmed~ately become dos and payable.
~ 25. To provide the Associatan with flood Inarrrsnp Coverage if tfro real property is now a Iroreah« der«r?xned to W within a special flood hazard area as stawn
or? Flood Natsrd Boundary Msp/(good Irntrrance Rste Map as publrslad by the Federal Inswartp Admunstratiat.
2fi At tta request d the Mortgagor, tta Assoaation agrees to waive tfa povisions of paragraph 4 relative to the ueatan d a hazard inwrance account: povded.
• however. tMt tta Association retains tM ripf?t. at its option. to ro-insure such povisions d said paragraph 4 as an oblrpation of tM Mortgages h«eurd« upon
the happerwng of any d tlta faNowirq:
A faikrra to make any payment required under tlta t«ms d tM note on a Woore tM due dau Utereof. ~
B. FaiMus to wr*tPf y with tM imuartp provisions d paragraph 3. a d any d tM oth« terms and wrditara d this mortgage a nou, a vnM tM inwrartp ;
requirements wntained M tM Declaration of Cadaninium and relete0 dowments shesrkt the mortgaged property W wmmitted to cadommium
development.
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