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4• Thal. in wrier to WOlecl nrOre IuNy tM Ncurily O) flies mW Igape. tM Morlgapa. IogelMr wrlh. and wr addrtrJn IO. tM rtanlNy wymants under tM to+ms W Itp
note tecwrtd tweDy. on tM spsafrrtd paYmMt CaN of each montA until tM sad note rs h+NY pad. wrN psY to tM Assocratron tM fdbwrnp wms
Isl An rnttsNrnent d tM Hass and assessmsr+ts MvNd a to bs lsvred against tM prsmrsss covered by ttws nretgags. and an rrrstalknent d tM premwm J
or premwms that w+N lteconr dw and paYalrM to renew tM utwranp on tM premises covered trereby against bas by fee. and windstorm. as provded i
for by paragraph 3 pscsdrq- a such other hazard as may nasonaDly be retturrsd by tM Assoaatan, and an rnstaNrnent d tM premwm that wrN
treconte dw and paYabM to rsrtevrr tM rrrortgage rrtswsrtcs. d arw. Such rnstaMrrtsnts shah be av++st. tityiw.Aaty, t3 one-tvwlhh I1/12th1 Of tM es
umated pnmrum a psrrwmt for such arsugnq. and toss and assessmartts nut dw less esumatsd by tM Assocratronl Mss aN msts'=aezs;tts at:ssdY
yard therefe. dnidsd by tM rwmbsr d month ti?at are to Napes ere month pyre to ?M dew rr}.= :-:-rte-~ a prsm:ums and toss and
assessme+tts w+N bsconre dsMrtptNnt TM AssocNtrtlr?. whM apply+ng such payments Io rrtsursrru premiums. toss and assessments. Delve tM same
become deknpirent. shall rat pay intMest t0 tM Mortgage on such lands. and aN such paYmMts may be comnwtplW by tM Assoaslron vetch any
other such lurtds a wnM its own land. 7:w ftrrda'an pMdgW as addrtrortal sscwrty for tM sums secured by the Mortgage and are strbect to use by
tM Assocytan in payment d "Mrs cMrgss` and bank colMctwn clrarpes
Ibl AN payments rrrentioned n tM prscsWq wbssction d this puagraph and aN paymsr+ts to bs made under tM note secwed Mreby shah t?s adlfad
together and tM aggrsgau amount thsnof shah W pad by tM Morepaga each month in a sirtglf payment to bs sppkW by tM Assoaatan to tM
fobwrrq Ntms in tM OMM set forth 1. Toss. asssssrnsnts. and irtwrsnCe psmrums 2 "Ute charges" and bank tpNectron cltarpes. unless pad in
marrNr provded in puagraph 4 la! 3. IntMSSt On [M note sscwed hereby. 4 Amorti:atan d tM principal d sad note
Any detiryertcy in tM anaw?t d such aggrsgsts monthly payments shah. trNess Paid by tM Metpage par to tM due date d tM nut such payment. con-
stitute an event d defauk under tM mortgage Without waiver d any rpht. tM Assocrstron may coNect a "bte chargi' ss povded in tM Note
S TMt d tM total d tM paYmer?ts roads by tM Mortgage under lal d paragraph 4 precsdeq sMN uusd tM amount d payments actuary roads by tM
Assocratron for caeca and asssssntents and insurance psrtruma. ss tM case maybe. such ucsss shsN be cnd+ted by tM Atrsocratron on wbssawnt payments
to be made by tM Mortgage. H, hn!wswr, tM rtanthly payments made by tM Mortgages under lal d paragraph 4 prscsdatg sMr not Mw tress wfhcrent to
pay taxes and assassrrrerus and iruwar+u promwms. as tM case may bs. wMn tM same shah becarrts dos and paYabM. tMn, tM Assocraton may. at its op-
tion. rmrrtedrately pay aortic fuss and assessments and rrtswanq premium. and tM Metgspe shall pay to i:.a As..~.:..
~ a-:, a--^~Ms nsassary tG ~.:ka :rte. -
tM defrcrsncy. and such paymerrt slier De dw anti payabM vyrthn that); 1301 rays aher the date d miikrp d ratite by tM Assotsatan wttuq Iorth tM amount i
of such defieienr:y 11. at any bme, tM Mortgagor slier tender to tM Atisocratan. in sccordarrp with tM povrsans of tM hots secured liuebY. IuN payment d -
tM entire wtdebtrtdrtess represantsd l+sreby. tM Association shah. in computing tM amount d such rrtdebtedrtess. crsdt to tM account of tM Mortgagor any
baWrtce remsrrrng in the funds accurtwMted under tM provrsrons d Isl d paragraph 4
6 To permit. comnwt a wfhr no waste. impaerrtent a deteraration d sad property. a any part tMred. and upon tM faih?n d the Mortgage to keep tM
burldrrtgs on sad property n good conbtron a repair and mantsnsnq. tM Assowtan rosy demand proper mamtsnsncs and tM rmrtediats rspirr d sad
buildings. a an irrcrssss in tM amount d set:rrnty. a tM immediaa repayment d tM debt Mreby secured. artd tl+~
jarh:-~ d the Mortgagor to comply vnM
sad demard d tM Association for a period d thirty 130) days shah wnsatute a breach of this moregsge. and. at.tM opton of tM Assoaatirzn. rmrnediately.
matwe tM aritirs amount d pnrtcpal and inMest hereby secured. and tM Assoaatan immediately and wwthout ratite rosy irtsdtute proceedirigs to feedose
tlrs mortgage and apply for tM appointment d • raceivsr. as hsreinahsr provided. and in Cafe d tM refusal, neglect a msDility d tM Mortgagor to raper and
maintain sad property. tM Associaton may. st its optia~ make such rapers a cause tM same to be made. and advsrtce morieYS in that bNtsH
7 T, perform. comply Hoch turd atrda M each and awry IM stiptrNtroris. agreements. cetditiorrs and covenants in said pomissory note and this mortgage set
lath
8 To comply vwth the wDdmsan restrictions and tM mwrcpal zorrinp edrtirrcas •pphcabM to tM mortgaged popsrty: not to erect or permit to lie erected any
new buildirtgS on tM premises Mrsri rriortpaped a to add to or parrot to be added to. make a pernwt to ire roads. arty structwsl alterations to any d tM u-
rsting improvements thereon without tM worth consent d tM Associaton: and n tM event d any violation or attempt to vitiate these stpr,rMtiorK. a any of
them the mortgage std ar awns second Mrsby slier rrtwriediately ltacorrrs due and payable at tM opton of tM Associaton.
9 That m case of a default M ar?y d tM terms d this mortgage and tM filing of s ltiH to foreclose the a anti oche mortgage sncumbenrp tM witlwi described
property. tM Assoaatan sMN bs enbtlsd to apply. at anti twos without notice pendirig such foracbsure sort. to tM text Mving prrrsdit:tiott lhareol fe tM sp-
pantrrient of a receiver of ar and SurguMr tM rnorlWged poperty. and d aN tM rants. incOr?ies. prdits. issues and revenues tftereOi. from wMtsoewr sowce
derived. and. thereupon. it is heret?y expressly covenanted and agreed tMt tM court SMr fethwrth sppornt a rscerver d sad mortgaged property. ar and
srngutar. and cl such rents. intOrries. prdr!s. ilaiies trrd revenues lltNeol. Iron vvlistsower source derived. vrith tM usual powers and dudes d receivers rt like
cases. and wch appontment shah bs made try such court ss s matter of strrq right to tM Associatan. and wirhrri* rel+x.nc. to ttr adeouacy a inadequacy of
the value of tM poperty hersDy mortgaged. a to tM solvsrtey or inaolvaricy d tM Mortgagor. and that such rents. Adds. intOrriet. issues. and revenues shah
be applied by such receiver to tM payment d tM mortgage rridebtedrtess. coats and charges. according to tM order of such court
1 O That in the event the premises hereby mortgaged. a arty part lhasof, sha8 be coridetnrisd and Utre+t tinder the power o! em:ne Soma::=.:ha Asscaadan sl+st!
have tM right to demand that sN damages awarded for tM eking of or rryury to sad penises shall be pad to tM Assocratron. its successors a assigru. up to
the amount then unpad on tlrs mortgage. and may be applied to arrp wms last payable hereunder
11 That trine a of tM essence of the contract and that no waiver of airy obligation hereunder, a of the ODtigatron secwed Mreby. shalt at any time thereafter tie
herd to be a waver d tM terms hereof or d tM promissory note secured hereby
i2 Ir.:tor e:-ent d a:sY dsdsutt c stir d llte farina of t!tra n~tyage. or :st the !s-?te SLiuted beteDy. a:~ as[eletat-o.^. DY the tx3!der. w. any other sstuai+.}? that yvuuld
cause the interest pad a psYSttb under ttrs obbgatan to exceed tM interest rate wthori:ed by law. then in such event all excess interest thsrstdore pad aMN
be credited to pnriCipal and at+ accrued and unpaid ucess interest shall abate and shall not be an obtpstan of tM maker e d any other person.
13 That to tM extent d tM rndabtsdriess d tM Mortgagor to tM Assocatan described harem a secwed Hereby. tM Assoaatron is hereby subtogated to tM ken
e bens and to tM rights d tM owner and ItOlder thNe01 d each and awry metgsge. Kerr a other encwnbrarice on tM Isnd desarbad Mien. wtwch a pad and
satisfied. in while a n part. out of tM prOtNds d tM ban descried Itsrein of secured hereby. std tM resoectwe Yens of sad mortgages. hens a other en-
cumbrances. shah be. and tM same and each of them hMeby rs pesened and shah pass to and be tieW by tM Assoaatan trsrrtrt as secwrry for tM n-
debtedriess to tM Assoctation liersin dsscrrbed a Mreby sea?rsd. to tM same extent that it vrarW Mw Dean peserved and would Mw bean passed to and
- been herd by tM Assoaatan had it bean duly and ragubrlY assrgried. transferred, set Dyer. and delivered unto tM Assowtan by separate deed of sssignrrient.
notwrthstaridng tM fact that tM same may be satisfied and csncNled d record. a lrsirip tM intention of the parties Mreto that tM same wrtl be satisfird and
cancelled d record M tM holders thereof at a attout the ume of tM rscordirip of the mortgage.
i 14 That rl any d the wms d rriorieY frsrain referred to be rat promptly and fatly pid wnthn ;Mrty 130) days next after tM same severary become due and payable.
or rl each and every tM stpu4tioris. agreements. conditions and covenants d sad promissory note and the mortgage. a circler. are rat duly perfemed. com-
plied wrath and abided by. tM aggregate win unpad under sad pomissory note and the mortgage alien become due and payable lorthwrth or thereafter. at the
option of the Assoaatan. as fury and completely as it said aggregate win of money ureic orrgrriany sdpubted to De pad on such day, anythrq in sad
promissory note or herein to tM contrary notvrithstanding -
15 That rn order to accetcnte the matwiry of tM irdabtedrieas filrebY secured because d tM tai:ure of tM Mortgagor to pay any tea assessment. habbty. oWrga-
P tan or encumbrance upon sad property as Mien provdad. it attar not be necessary nor regwsite that the Associston shall first pay tM same.
{ 16 That the abstract or sbstrscts d true coveroig 1M mortgaged property shall ai all trines. during the Ida of tFxs mortgage. remain in the possessan of tM
Assocratron and. m event d tM forecbwn d the mortgage. a other transfer of btk to tM mortgaged popertry. in exdngurshnrent of tM rridebtedneu secwed i
hereby. aN right. title and interest d tM Mortgage n and to arty wch abstracts of tick shah pass to the purcMSN a grantee
17 Should the vatdrry or Mri of tMS mortgage. a tM rate scorned thereby. be.contested by litigation or otMrwrse. the- Mortgagor agrees to pay to the Assocatan
the cost of de(endirig tM same rnclirding s reas~»~~ attorney's tee
18 To pay an and sirigirlar the costs. charges and expenses. inclirdrng attorney s leas reasonably incurred. or pad at any dine try the Assocratron. because of the
1 failure of the Mortgagor to perform. comply with and abide fry each and every the stipulations. agreements. cordrtions and covenants of said promissory note
and the mortgage. or either. and every such (except tOr the payment d tM montNy rnstanment as required by tM Promissory Note) shah bear interest from
date at the rate of eighteen per cent 118%) per annum until Iu1N pad -
19 The Association span have tM rrgtit at any bme and hom dine to dine and wittaut notice to or consent of any person to tor! release any portan of tM premises
from the lien of this mortgage. Ib) release any person liable to payment of anti indebtedness secured hereby. Icl extend iM time of payment or alter the Terms
Of payment of all Or any part Of the indebtedness. wrtltOUt affr_dng a rekas+ng the personal habrbty of any person liable lothar than any person released par- .
want neretol for the payment of any win a interest secured hereby and without m any vnse ahenng. varying. or drmmishing the faces. effects. of Iran Of tM5
mortgage on alt the pemise5 not SpeCificslly released from ttte lees of this mortgage by the Association
20 Any agreement riereahtr made M Mortgagor and Associstan purwant to tMa mortgage shall be wperar to the rights of the udder of any intervening ben or
encumWance i
2 t Upon request of Mortgagor. the Association may. at its SOk Optan- from time to dine. Ix?ore full payment of all indebtedness secured hereby. make further ad-
vances to Mortgagor. providld. however. that the total pnrtcipai secured hereby and remaining unpaid. irr._loding any wch advances shah rat at any trine ea-
ccert the ongrnal principal win secured hereby Mortgages shall pay all wch further advances with interest and the same shalt be secured hereby All prOVisans
of rhrs mortgage shah apply to each further advance as welt as to all other indebtedness secured hereby Nothing herein contained. tawever. shall hrrut the
amount secured by flits mortgage if such amount is increased by advances made (>)r the Associatarr. as herein elsewhere proviifi>d for t0 protect the security
22 In the event the Mortgagor herein. or any wbsrquent Mortgages. or any person a corporation owning any interest whatsPever- sMwld encumher the property
twre:n mortgaged by an instrument commonly referred to and known as a "wraparound mortgaye~ wrtttout first nhtaimng the written consent of tM Associa- ~
Iron then at the option of the Association. the obligation secured by rhrs Mortgage shad immediately become due aril payable
23 Tn provKle itie As50i:ration with Flood Insurance Coverage d the real property rs now or he•eafter determuied to ice within a special flood ha~arA area as stawn t
nri Flood Harard Boundary MaprFlood IrtwranCe Rate MaR as published by the Federal Insurance Administratirxt
j4 At the request of the Mortgagor. tM Associston agrees to wane tM provrsans of paragraph 4 relative to the creation of a hazard inwrance account. provided.
however. that the Association retsina tM right. at ds Option. t0 re-instate such prpvisiona d sad paragraph 4 as an obligation of tM Mortgagor hereunder upon
x The ha,7pamng of airy of tM fdbwing
A Facture to make arty payment regwred under iM terms of the note Ori ur ixfwe the due date itierev!
B Failure to comply with tM inwranCe provisions of paragraph 3. or of any of lM other terms and cOriddiesi6 of Ihs mortgage a note. Or with tM inwrance
requirements contained in tM Oeclaratan of Cordom:nium and related documents sfauld the mortgaged property t?e eoeremitted to condominium f
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