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1• That n ads to potect more fuay p•a tieturity d live mortgage. tM Mortgages. togtethei wren a•d m aoat•on to t•ie rro•+t+v T.ev~e^ts r•ae•• ? •t at+"s a• t'+f
note secw~d hereby. on the /pealred paYrnent date d each rnortth uma the sad note a fogy pad vie oar to t++e Assoc•aza+ t*c bow.-~ sra
la) An ariupment d the lases and assessnrenn levied a a be levied apaatat the pnrniles toverfd ttiv tr•rs mangage and ar• asses+i••leiit d tae prrl+r.r,r+•
d ptlmwrllf that rral become des and paYibU t0 reetw the aulrattce rxl the prerr?sfs tovfrfd tlerfpy aka++ft rOft Ls f•'! i='O +wr~iw.r' as 0~'Q
for by paragraph 3 preceda•g. a sucf+ other hoard as may reases.abtY Oe raquiree Or the AsUOCiatOn a+d ail .nstannite~a d rlc ve.+•r+ ! •NC ¦Wt
becpne Dire and piyibla to renew tfle rrlortpige nw.antx. d arw Sudr •rlaalrtlems arias, be eowr respec:,veiy m ts•.e twerAw i1 t2r.• ~ re es
Umaled premWm p prerrwrnts for such Irawanoe. aria lases and aseessrrtfnts rlfst dl•e les est.nNteO by the A7socvt•ori• mss at r+staer~res a~elrse
pad tl•erefes, dnded by tM number d nlontns 4yt a4 to etipae aw rrlwtth Diver to the deN wive, such tre^•v'* t? trc'*~•+•'"s a•+e sages a+td
assessments wr11 become dekrtpuer?t Ttte Ateoclatan. vrt+rle apptr^Y suM Oavrr'fnts to irls•pante pMmwms U¦es aw assess•>w'ts Lt~rsf tAe sar•~e
become dekrlpuertt. !Il•iM not pay ettereq t0 tM Wlorts2spor do such fords. and aM such OaY^ie^ts ma? tx cumrn•nged err m Astor••aton aria
other such /ands a with Its own furldi TAi funds a+e ptedgW as eddrtorvl secw,tY for the su•ris sKu•ad br !••rs Vlor:gage a++e art s,roysrtt to .Af a
the Associatan n piymMt d late chMpes • aria bsrll COeet:tron tf•arges
Ibl All paytrNnts mentlorted n the p?ecedalg suWfeeron d this paragraph and ap payn+trlts to rte mad! jr+aa• :rte +wtc te•:.JtiO ne••eo• s-i~ ere araoee
together and the aggtegaa amoum thered shiu Oe pare by the Mestgigor eacn month rn ? singrc aa.**+e+• tc ere aoaec a. r.e Assa.a~v x --o
ldtowir•g item! r rite ordeN let forth 1 TasK essessrrwtts and xKUrarvx premwfM 2 Late chrges aw t•a*i? car•e:to? cwges ..-,rss ;,ere
rnaitrter esovlded n paragraph a la1 3 Interest on the rwtt senrred hpeby a Amortvat.on a the te.ncpar a sari -.ate
Any deflwr•cy n tM amarrrt d wch agyregiN monthN payments shah. unless pad by the Mortpa5lor prb' to m sue date d tnr nc.7 s.rKf. W^+ai¦t ten
stituM ail event d defauh under cite rrrortgagt Without waiver of any rrptt. the Atsocratron *nir a use cr•ge as provdrd t++e loee
S Thar it the total d lire paymems made by lire Mortgages under Ial d paragraph a preceemp ta+sa a¦cced m ar*ro.w+t t1 raY+~ts xt..+iti ~aae A :*a
Assocatan for to¦es and assessments and Ir•swarrce premiums. as the case rt•at' M. sud+ eatess snap oe cwasea »7 the Aswc.atmr• ~ srwfoue•~? ps?r-a~*s
to be made by the Mortgages 1/• however. lire monthly piynrents made by the Mortgipes urdq tst d t~a+sgaph a prloedrvg sna! nos !+a.e aeaR sw~ -•rr so
DaY lases and assessments and mw.ence premwms ss lire Calf rhaY be. wften tf+e ism! shall bacorne due a+d pa•sbb t?+err zne Asw:+atr r',a• a' as a0
trop. rmmedlatety par such tries and assessments and nsurarlte premium. and t++e Mortgagor stracl gar to :tic Assoc•a:o^ a-v a++wra recessa*• -we .o
the defKlerrctr, and such payn•ent shag be due and paYabN wlthn trrrty 1301 OaYS after the date or rnai:wig d *lot•.t Sr :ne Assoc,a?or+ sea^p taT+ ^+e a~at~n'
of such defic/et•cy If. at arty tlrM. tM Mortgipor shall tender to lire Association. n at:GesdinGe wrm tit provisions d the hale x:.ree ~e-est? r+.•-.re
the entire Indebtedness represented I•ereby. tM Assocratiorl ship m tomp•rtng the arrlOUnt of s:,cn rnaebtepness c++,a~t to ttre a:::s,.r'd d' tit Nc„'i7+ic* a^••
balance remsu•Ing m the lands sccumuyted urdir the prttrrbor•s d Ia) of parapraptt a
6 To petmlt. comrrrit or wfhr Lq waste. urlpaumertt or deterrwation of saki property a a++Y pan tnerea! a+d ..pcs• t•e L••re d tnc laorsgagv ao .eeC '•e
lxladir•gs orr sad propNty Irl good COfdltron a teparr and mamtfr•YrCe. the AaeOt•atron may demand t]rope•• marr!tlr+arrGt r+a m •^•••reOi~te vpar el! sae!
buildings. a an ncrease m lire amoum d sfcurlty. a the imrrlediate repiymertt of the deb? nc+eby secu+ed a-d tne'a.i~•_ o~ t•le Apor-gagor so :mr-py rr
said demand d thf Assouation for a period d tMrty (301 days sMp constitute a breact+ d tf•K mortgage a•d at the opton d tot Assot~a7e?. e-r+a~.rar.
maturf the entue amount d prnclpil and urterest hMeby sacwed. and tflf Assot:•atior+ irn+rlld•ate'r and wninout nat•:c t'vr •rata,.te ar~;.eeo+•ga tc tqf..-.rJtt
the matgsge and apply for the apppmment d a reCervM. as fiere/nafter prov,dad. atwf m case d tt+e ret,jsa• ••egbct or •*.ao•rr oa 7nr t~:gagr-i so ~epar a~f
maintain said property. [fie Assocytlorr may. at its option. make such repaes a cause the same to tee made ano se.a~ae •nvrtrs tries? x~>'
7 TJ perform comply with and sbde Oy each and every tr•e strputatwrK. apreemsnts. tonditrons std COVeNnts sates t7rtr^•'ss>s rrRt a•iC 7'fs -+Ct~~ t+e^_
tarn
8 To comply vrlth the wbdmsron restnetans and the murt•Gpal t'o^'^g esdr•arrt:es sppl•caWe to the mortgaged p•ope•r• nGt tp rlcl v Lre•^•t >A ere e+e,clsW a~^v
new buadrngs on the esemnes !wen rtlortgiped a to add to or permit to be s00eo to- mate a patina to Oe made s+•r srrct.+ra, .eeratas ?an ar*r d tr e.
fisting Improvements thereon witflout tM wrinen consent d the Assowtion- and n the ev!*rt d any vioJt•dn o• aM+yi ?o violate tnese s3t~+GCrs air ails al
them. this mestgsge and alt surrlf secwed hereby shag imnuediatery become due and payaralc at the oton o! tY Assoc.a7•on
9 That rn cast d a default n any d the terms Of this rtiortgige and the fang d a Oat to foeeebst ttvs a a*a otnr +*ia•tgagt t+•t,ir^me+rty the .ra!+n deso•oed
Dtoperry. the Association she'! be entitled to apply- at any t+rre witriout rlptiCe perierrig suCn tOrieGOSal+e s+nt t0 the caani rlar+g r.radc?er, rra^ect b? a°e aL-
pomtrrient of a reCeivN of ere and angular tM mortgaged propfrty. and d au ilia rents rncorries srot,7s .ss.res aria •e.er.ues tntnNC1 +-a'n ~+?iesoeas sorsce
derived. and. IhereuptNr. N rs herfbY eapesstY coseninte0 and agreed that the tout shall b
.*wan appn•nt a rcx.rr a' sib •ntrtg~a t>ropr'? at rd
singular. and d such rants. InCdlnes. profitt:. nl•res and reverwres thered. nom vvf•atsoeve+ sau•C! de+~ved w,i*. t-•c ,as:,a, Z o.r-s saw o..tes d +aa~+ers •ae
-cases. and such appointment shall be made by such coon as a rnanr d strict r•pf+t to the Assocut•on a-~ w.tnau: •eae-rY.e t.:'+e sOeo•+a.-. u rsACV..s-. o~
the value of the property hsfebr motgaged. es to the sohrer+cy es rtnptvenCy of th4 fJivtgago• aw rest su:,•+ *r^ts rra!~:s :•.co-rs ss:,es av •~re-.yes spa'
be applied by sucn receiver to ttte payment d the mortgage IrdeOisdriass costs and cN+ges xc.o=o •.g to inr odr c sr:^ ~O.f7
1 ~ that in the event the pemifes hereby mortgaged. es my part coated. shall tie COnatrrvied a*d tate-r urn!' 7n! Do.ve• oA t^•'•!^• OJ'^'J+r 2'ie ASSti a:aT star
have the rlgtlt to demand coat an damages awarded for the taking d d rotary t0 sad promats s+'i+ tie Aa•~ ?G Assat•a?:r •b s..r.:css5's ass
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the amount then unpad on the mortgage. anO may De apWsd to ally wins use pa?ab+e rie•e~nor
11 That Lm! is of the esserxe o! thn COntriCt and toil n0 Warvet of arty obt•gitron hlydndt+ x Ut the LD •ya:~0" set~.•r_ '•re•~y s
•a~ a: a^, : ~t ",t"N'7e' tx
Held to be a waiver d the terms hereof es d the promissory not! secured riereDy
12 In tN !vent d any default n arw d rite terms d ttM mortgage. a m she not! secu+eo nrebv aria accc•e+a?•a-~ a. t•ie '>u•a!- or a-v rrnr s:,,a!tr =
r..ouC
Cause site intlrKt paid Or piyabb under thn obligiign to e¦Celd tt•e nterKl rate suthariied tty rive inn m svc*• e.r~
a a~~ e.aess •~es::++r-ea~re sac s-:!
be credited to prir•Cipal ar•d a:' accrued ird unpad fates mterKt sha!+ state a+d sru: *ro? be a• :,a •gj?•o~ c' ?'re •-wr o• a' a . cs're ~e's7•
13 That t0 the e¦tMt d the indebtedness Of the Mptgiges [d the Associatan descrdxd r+e+eirm O• sKu•!G he+lay ASS1i J?~'•"' a'~eeb• saG.-ya~.: Y^! rr
or Lens and to the tights of tfle Dirtier and holder thered d esM ano every mortgage Iran es a:hK encurriba+iCe on t'+e sand oest+rbe~ *ren stfGT a L+aC arse
satisfied. n whole o< n part. out d the propels d the ban descrdxd herein es secu+N ne+eb? ara the *es~ectwc sins d sae •+iortgages i,e•a a- ot'r er<
CumbarKes. shall be. and the same and estn d them Hereby rs preserved and shao~ pass fu aw be Here by :ne AsS7L•a?•Or` ne•'t*~ as seu•-~• Sot the n
debtedness to the Association harem described a hereby ssWred. to the same e¦ten? coat ~t wtn:+d nave Uer- a•esr.•ea a•» va.r[7 a.r oar' ~,atfe ~c ano
been held by the Assoc/atron had rt beM duty and regularly assrpnfd t+ansfer+ed set ove• anC Oe• •.r•eC ,trite ?ne Ass•?c.a?.•r tr scorax neec d' assy~-~-vr~
notrvithstarlding the fact that the same may be satafied and tint:epea of record rt !x :ne .rite^ta'+ c' fine ua•trs •re-etc ?-r. sa~•r errs sr s'ee rC
cancelled of record Or rise holders thereof at a about the tame of the reco•Wrig of :n.s rive^gagr
1 a that if arty d the sums Of money h?rNn tetanal to ere rlpt promptly and fatty iHd rvrtn•n ?n•+ty 30 ~ di•S 'itr? she- r+e sa^x sevir•ar• ae::.-ie S.ie av>uraDe
i
or rl each and every the shpulatioris. agraetnents. corditlorK and covenants of sad p,om,sso-v no?e aria tns ^nc,-gage rr r l••r rc • ~e-+cs-=ee ;zr
f Bred with and abded bY. tt+e aggrfgate sum unpaid utiasr sad prpm,ssesy rote an0 tr+,s mortgage snr acw^+r Due a•+,: nay sac +s:-•.• r c~ ?•.e ca'7e• r.
opt+on d the Assoclatron. as fogy and rwmo+eteh es if said aggregate sum o! rrir/+e• we+c o••p•na•.• s?.,..•3?!Q tG ale :.a•c rr wc'^ u• r•:~.r r sae
promasory testa Or harem t0 rite contrary ndtwithsLnd*Ip
~ 15 That m ceder to accelerate the maturity d the •rdebteaness tx+etrr set:u•ea because o' the !a :tie o' -ne V ~ ::air -c ..a• r• ?a. assess-.r-~ r •sa
I two w encumbnnt! ut'on said WopfrtY as herein Movded rt ship not be necessa*v ^o• •ea...s?c tnr ?tee •4ss:.: r.,~- s•v. ~~•s::+. -'~e sa-•+! .
16 Tnat the abstract W abstracts o/ title covering tlrf mortglgll property snare ai a~` i:meS a„••ng •••e ''e o' ?'•s-~:naa~r -e-a~- -'+c :,osscss.x "fie
Association and. m event of the lorKlOture d tMS mortgage or other t+a+ute• of t•tk ?o the mo•?gapes , •~•:x-?. - s--•r^- n''.,r -~x:-r~'•rss s!_ _YC
hereby au rigor. title and interest Of the Mortgagor m and to any sucn sbs:+ac:s o+ ?'+e sna ~ iris 'c -••r a.: =-•ase- o• ~•r-?ee
17 Should the valdrty w Iran of ton mortgage. a the note sKUrel thereby be contested t» .,yat,r c- v.••e.w. x "u y.:,^3a~:,• a~•m'c jai --.r ~ssx s-•r
the cost of defend,ng the same inctudrng a reasonable attorney s fee
18 To pay ap and singular the costs. charges and a¦pensts me+ud•ng attorney s fees reawra:r: ,•,...••rr r- ;.a,~ r• ,.n. • -•e• -'•e jss-,= •a-.+ :•[•:.e se _''-ie
!allure of the Mo•tgagw to perform. oDrrlOtV with and able M each and every tr+e st~iwra~•ons aa•r•r•^•«-'c . ~,~?-.r,t a~...,.t 2-ts n• ssc:r-.-+^csG• x~
and iMS mortgage. w either. and every such lt¦cept for the payment of tilt monmt. ,nsta'••*~rrt as •ea~~ ec D. '~,e ?-o•^s4ri •.r;~
e. s'~s' ~!•a' -'~-mss: --r
date at the rate of eighteen per cent 11896: per anrwm'unt=1 tufty pad ,
19 The Assocratan shall have the right st anti time and from time to time arw wahout rwnce m a ia+,sen; d err.. rs~^ 'c a -e•eax ry sr?•r s' -mac ~t•-~s«•s
from the Hen Of thS mortgage. Ib) relNff ally person IIeW! far payment Of any ir•0lbttdnKS aecu<ed rie'M• aria-,;, rt?-rc ~ :a••^+er~? y a'r ?Y ?r~x
of payment of all es anti part d Ins Ineebteaflels. wittiout affecting O< roless•+ig the persona: +.aa•+'y o' err. pe-se- .JNirt y:^!' ^i• a^.:,r•so- •«car=
want hereto! tes the payment of arty win a interest secures hereby aria wrttiout m am w,se a~e• •tl .r:.*>Q o• a •-~•~s~ z: rrr •~:es c~^s •r d -.s
mwtgsge on ap the premises not spfaticaay nteassd from the Len of cols mortgage by rise Assx r•ar
20 Arryr agreement hereahcr made SY Mortgagor and Atlgcratan pursWrt to ttrs mortgage snag De sut+e-•o• to -•+e ••;,r^n n• ^=t• •~.tix• e• a~• ^:er.r•+ry *er
ervLUmbranCe
21 l%pOri request of Mortgagor. the Association may. at its soot pptan nom t.mt t0 time txfa•e ful pay-•e^t o' a' ,-.xanee•+rss sr:u-e~~'•e••r:+. ,'tart'-r"oe" a=
vances to Mortgages. provided. however. these ttie torsi prmc.pa: secured t+erebv and rema••+•*+g i.npa~ ,n:+u0:'ti7 a-v s.s`^ a:•a••;es s
a• -r? r a•v :-•+e•
Geed the origirtit prlrttipai win secured hereby Mortgagor snap pay a: sucn fur7ne+ sdra++ces w.r ,iciest sw l•x sa^re s•u` ere sr:.-er -a-e^_. A 1 aro. sari
Of tMS rriorigage ShsU apply to each fanner advance of writ as to ap Othe+ rrde0lY.Oness Setu•et' ne•eD• LYD?'+~'•y^ •rwe~^~ :-c•^'ta+'+{ •w^wr•r s
•a~ _
smou nt secured by ins mortgage if such amount n i+ICreastO DY advances made by lire Ass_:. ~at~a^ as ne•e•^ esr«-.e•r ao..oeo: ta• to a-cc=- ^±se::
22 In the event the Mortgages herein. es arty subseoirent Mortgagor. d any person a co•t,e•at,or c..v>•nc a*'. •*,«.-«s7 +v',a±crr.•?- c-r.rr ^_,;-c•r ~•aee".
harem mortgaged DY an instrument tommesuy referred t0 end ktgwn as a wrap-srouid mo-taaq w~tn~,• :cra••+na z~ w+-»•+ oo-~^ o^ -+c ~l•w: •a
tan then. st the optan of the Associatan the ob+igation securM br toss Mottaax cn?': ,r'.r•i«A.al«'. tx-cc,++•- a•+~ :~•s.an,t•
23 To provide the Associatan with Hood Irtswance Coverage a the rest property rs now x ne•eahe* net«+•r~•.e,t ?r w•-~i- r s-rt--.a ~.at++': rat as s•+.•.-.
on Flood Hststd Bwndary May Flood Insurance Rate Msp ss publanee by ttie Fade+s :r.wranor qe-+,•^~t•n.:,*•
2a At the request d tM Mortgages. tM Aseoclatgn agrees to wawa ter provrsarn rA paragraph a relative ~ the vea7ron o a !+a:i-a ~ts.wsroe ar~-e vo.ola
hairever. that the Aslouatan reteuts tM r•~rt. n Its option. ~ n-invert sucn prt7visiorn o! sad WragTatn 4 as an ooayarta^ a' :ne Y•or7gapr T!r'!?fidr .Clot
the nappert/ng d anti d the tdbwing
A Failure to make arty piyrrNnt rfquafd under tM terms d the !tote on p t>L•fcrt tM due dale tne+eot - ~
8 FailuM [o comply with tfre rneuranp prOVgrorta d paragraphs 3. or d any d the other Terms s*d co i0a•oFis o! fns ^.o-!page x ~n?t a .vs --c ry.rsi~
requirements conumed n tfre Oedaretlon d Condominium and n4»d doarnserits stsoutl the rnortgfged p•ove'tt ix r~-•'-+•->d' 7c ra.+oo~-*r+u~-
dlveldprtsent
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