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d• Thal M qdN to potect mqe fully tM sacunry 01 this moripaya. tM Mgtyapor. topatMr w,th srd,n idd,tron to. tM monthly payments undo the tams of the
rwq secured Mreby. On tM apeaf+ed parmeM date of each month until the sad rwu n fulW Wd. wru par to tM Assocranon tM tdbw,ng wins
Isl An ,nsuumMt Of tM toes and assessmerts lewad q to be levrttd aQarrtst tM pem,ses covered br th,s mgtpage. and an ,nstaumeht of tM wenuum
q pemwms tMt ttvru beeorrte dw and payabN to renew tM rnwranee on tM pemrsts covered hereby aya+nat bss br tin. and w,ndstam. a povded
for by paragraph 3 precedrq, q such Ollie hazard as may reatanabhr W rapuued by tM Assoc,itron. and in rnsultment of tM pemrum loaf yv,a
ttecorr+e dw and 1»yabN to renew tM mgtpifie rrqurance. d any. Such rnsusments shau tier equal. nspectnrehr, w or+e twelhn Iv 12th1 of tM ef-
bmated pemwm or pemrums for such insurance. arr0 uaN etd assessmetu neat due less esnmated by tM Assocrauonl less alt rnstsumenn steady
pad thaefq. divide0 fry tM number Of month tyat are to elapN a,e monM p,w to IM date Wrifri such pemwm q pemwmf and tierce and
• assessments will becane dalingtrent TM A»ociatan. wMle applr+rip such payments to inwrance pemwms u¦es and assessments beige tM same
become dekrtgtrent. ttftaN riot par mteest to ell Mortgagor on such funds. and an such payments mar W commirtpled by tM Assoc+uiort with arty
other such funds q with its own fonder TM lords are pledged as addrtgnal security fq tM wms secured by ton Mgtgige and are sutyect to use br
tM Assouatron m payment of "era charges" and bank COllettron cMrgas
Ibl Atl payments rrientariad m tM preceding subsection of thn paragraph and i11 parmtntf to W made under tM note secwe0 hereby st+su be added
together and tM aggregate amount thereof ftiin be pad br tM Mgtgsgq rich month m a s,ngb D7rment to Oe appl,ed br tM Assx,at+on to tM
fdbw+rg Hams wt tM qde qt lath 1 Ta:ef. assessments. and rnwrance pemwms 2 elate charges and Wok cd'•achor. charges. unlets Wd +n j
marwier povded n pMagraph ~ Ial 3 Iteest on tM note fecured Mreby L Amortwuor+ 01 ill p,nc+pal of sad note
Any deficiency n tM amount of atrM sgpregau monthly parmer+ts sMll. urrlass Pird M tM Mgtgsges war to the due date of the neat such payment. con
shtuM an event of default under lM mortgage Without ws+vsr of arty rpht. tM ASSOtrat+On tnayycollect a rate charge' as povded +n the Note
S That d tM rural of the paymMts made by tM Mortgagq under ial of pigggph 4 paced,rq shalt exceed tM amount of payments actually made by tM
Assocolion for uses and assessments and aiatirance pemwms. as tM user mar be• such cacao sMll be cred,ted br tM Association on wbsequent garments
to be made by tM Mgtgaga It, Itorreve. tM rriorrtMy payments made by tM Mortgagor under (al of paragraph ~ pecedrng snau not have been wffrcrent to ;
par rues and assessments and infurance pemwms. as tM case may be. whM tM same stilt beconic dW and payable. thin. the Asstxrat,on may at i[S op
hon. +mmedately Day sucA gees and assessments and inwunce pemrum. and tM Mortgagq shau pay to tM Assooat,on any amount necessary to make up
tM defrcrencr. srd such psymMt sMtl be due and wyable rwtMn tMrty 1301 days after the date of mi,bng of notice by the Assoc+ition setting fwth the amount
of such def+crericy If, at arty time. tM Mortgagor sM11 tender to tM Assoui,on, m sccgdance w,in the povrs,ons of the note secured hereby tun payment of
tM chore utdebtedness repesented hereby. tM Assoc+atwn shall. rn computing tM amount of such ,rdebtedness. credt to the account of the Mortgagq any
W4nce remirung rn tM funds aceumulatad under tM povnroris M lei of paragraph ~
6 To permit. comnut q wHe rq waster. impaurtient a detargatan of sad popery. q arty part thereof- and upon the failure of tr+e Mortgagor to keep the
burldrngf on fad popery M good COridtrOn q repay and miMtenarKe. IM Attsocrat,On rnaY demand gooey mamanarKe and tree rmn+al,ate repau 01 sad
bu,kt,ngs. q an incrsafe in tM amount Of setunry. q tM rmmed,iu repayment of tM debt hereby secured. and she fades-: of the Mortgages to comply w+th
sad demand of tM Associitan fq a period d tMrry 1301 days sMU constituu a breach o! tMS mortgage and. st the option of the Assocatiori. rmmld+itely
mature tM entire amount of principal and interest Mreby secured. and tM Assoc,atron rmmed,ately and wHhout notice may institute poceedr+gs'o fgecbse
this mgtgaga and appttr !p tM appgntment of • recerrer, ri Mranaher pov+ded. and m case of the refusal neglect w ,nabrtrty of the Mortgages to repa,r and
mamgin card popery. tM Association maY• at its optan. make such repairs q cause the same to be made. and advance moneys rn that behalf
7 TJ perfgm, comply with and able br escA and very tM sbpulatgnf. spreemetts. CtX+d,t+Oni and CO¦MiMS m sad pOmnswy note and IMS mottgage set
forth
B TO corriDllr w+th tM wbdwisiori rKtrrCtrOnf and tM munKrpal tonng gdNNrKef apptrcibt! to the mortgaged poperty. rtoi to Brett q permit to lx ascfad any
crew tiurld,rigs on tM pemnes Mran mortgaged W to add to q permt to be added to. make q permit to be made. any structwil alterations to any of tM ea-
,st,n9 ,nipovements ehaaon vnthout tM wtrttM consent of tM Assoastron. and n tM event of any vrdatron or attempt to vrdate these stipulat,ons- q any o/
them tMS mottgage and all wms ttecurW Mreby snau immedritely become due and parable at the option of the Assocratron
t
g That m case of a default m any of tM terms of tMS mortgage and tM hl,ng of a bd1 to tgecbse tress q any other mottgage encumbering the w+tfun dexrrlied
popery. ill Asstxration shall be MtHIW to apply. at any bore without notice pe^dir'g such fgeNofure wN. to the court navrng lurrsd+ctwn thereof fq tM iP-
pantmens of a receiver of all and singular tM mortgage0 poperry. and of su tM rents. rricorrNS. pd,ts. issues and revenues thereof. from whats0ltrer source
derived. and. triereupon. it n fisretsy eapessly covenanted and agreed that tM court (hall fgthwrth appant a receiver of sad mortgaged popery. all and
srngubr, and of such rents. rnCOrMS. poM.a. +ffuef and revenues iheeOf. from whatsoever source derived. with the uwat powers and duties of rece,vas m Eke -
cases. and such appantment (hall t7e made try si,ch cowl K a matter of Strict rght to IM Assoc,at,on and without reference to the adequacy or ,nadequacr of
the value of the poperty hereby mortgaged. q to tM solvency q insolverKy of the Mgtgsges. and that such rents polrts ,ncome5. awes and revenues shall
lx sppl,ed br such reterver to the payment of tM nigtgsge rr+debtedness. costs and cr+arges sccgd•ng to the gder of wen court
10 That m the event the genuses heeby mortgaged a arty part thereof. shall tie condemned and take:+ under the power o/ em,nent dpmarn the Assouatipn shalt
hay! lire right t0 demand chit all damages awarded Iq tM tikrrig of q irqury to aid peRi,Sei shall Ue pad [O the Assoc,ation. HS wCClSSgS w aSignS. up t0
/he amount then ovoid On tMS mOrigage. and may t» spplred t0 ary wms Iift payiW! hereunder
11 That time rs of the essence of tMS tontrKt and that no waver of any odrgitron hereunder. o+ of the obtrgat,w+ secured hereby. snat~ at any irme thereafter be
held t0 b! a waiver Of the terms Mrepf q of tM pomnSOrY rate secured rtereby
12 In the went of arty default m any o/ tM tams of tMS mortgage. q m the note secured hereby. and acceteraron by the holder q any other situation that would
cruse the uitaest pad q payable order tMS dtlrgauon to catered tM interest rate suthgr>:ed Dy law. then +n such event stl a.teas interest iheretofese yard frNtl
be credited to prrKrpat and air accrued and unpad access interest shall abate and snarl not lx an obtrgation o! the maker es of any other person
13 That to the Belem of tM +ridtbtadrisss of tM Mgtgagq to tM Assoc,at+on deathbed herein o* secured hereby the Assoc,at,on ,s hereby wbogaerd to the Len
q Hens and to tM rights o/ tM owner and odder tMreol of Bich and every mortgage. I,en q oilier encumbrance on the rand Cexnbed herein. which ,s pad and
fatisfred. m whole q M part. out of tM poceeds of tM ban dexr+bed Mran q secured hereby. and tt+e respective hens of sad mortgages. lens q other en
cumbrances. fha0 be. and tM same and each of tMm hereby n pesevttd and shale pau to and tie Held by tyre Assoc,atron hera~ as security fq tM rn-
debtMriess to tM Assowtgn herein deathbed q hereby secured. to tM same ea[ent that ,t would Aare Deere preserved and would have been passed to and
been odd br the Assoc+ation ha0 rt been duly era regularly isfigned. transferred. set over. and dNrvered unto the Assocrat:es+ by separate deed of ass,gnment
rgtYV,thstsrrdrrig the fact that tM same may be fatisfred and cancelled of record. ,t llerng tf+e intentron o1 the oart,es Hereto that the same w,tl-be satnl,ed and
cancelled Of rKgd by the holders thereof at q about the t,rrie Of tf+e recesd+r+g Of th,3 mortgage
i
t4 That r/ any d the wrrvs of money h4ran referred to be not ppmptty and fully pad w,tMn th,riy t30t days ne¦t after tt+e same sevastiy txcome due and payable
O• ,f each and Every tM ftiputatronS. agreements. COrid,Lrpnf ird COVenantS Of Sad ppm~SSpry note and thr5 m4+tgage. O+ ether are not dory performed. cOm~
gyred write and abdad try. tM aggregate win unpid under sad pomnsory rate and tins mortgage snail become due and paratNe fghw~tn es thereafter at the
option OI the AfsocNhon, if fully and COmplelNy of ,f aid iggregit! win Ol mover were Or:grnally stipulated t0 tx W'd on wen derv anylMng ,n Sad
pomnsory note q heron t0 the COniriry notwrlhsU•d,ng .
15 That m gder to accelerate the matunry of tM ,rdebttdness herel?y secured because o! the laJure o' the Mortgsgo+ to oar any ta¦ asxss•nem aab:bty obbga
tiOn q encumbrance upon sad poperty ss herein potr,ded. H shalt not (x necessary no+ requrS~te that ih! Assot~at:on shalt tryst pay the same
16 That the abstract W abstracts of titb covering the mortgaged poperiy shall at an rimes during the t•f< or th,s mo+tgaye rlmarn .n the iwssession of ;he
ASSOC,atron ord. ,n event Ol the /geClowre d tMf mortgage. q Other trans/!r Of titre t0 th! mortgaged D*Ope•ty a¦bng~:Shrnent at the indebtedness seCU+ed
hereby. an right. tale and interest of the Mortgagq m and to my-wch abstracts of title shalt was to she pu•ChaStr or granset
17 Should the vald,ty q lrai of tMS mortgage. q the rwte securM hereby. be contested by trtiganon w otnerw•se the Mongago• agrees to pay to the Assoc~af:on
rr+e cost of defe•dr^9 the same ,nclud,ng a reasonatNe attorney's fee
18 To pay an and singular the costs. charges and expenses- incfudrng attorney's tees reasonably incurred or t,arrl at any rime tiv ir,e Assrxrat:nn because of the
fsrture of the Mortgages to perfgm. comply w+th and elide by each and every the shpUlatiOns. agreemenrs co•uf:tuuis and covenants o! Said promissory note
and h,s mortgage. q either. and !very such leacept tq the payment of the monthly rnstadmeni as regwred by the P.om,ssory Note+ shalt bear ;merest from
date at the rate or erghteM per cent 118'{W per annum until fully pad
19 The Assoc,ation shalt have the rght it arty time and from time to time and w,thout r+ot,ce to w consent of any person to tar re:ease env twrt•on of the pem,se5
from the till of tMS mottgage. Ibl releaff any person Babb fq payment of airy indebtedness secured Hereby, lu a.tend the t•me of parmert or alts the terms
of Darrr+Mt Of all q any part Of the rrdebtedness. Mn[it01/1 iffectrng q releasing the perSOnal i,ibrirtr Of any txrs•Xr E+abte lotfier than any person released pur-
want hereto) fq the payment of any win q interest secured hereby and wHhout ,n arty W,se altering varying Or d:minnheng the bytes a}}ells w Iron Ol ills
mortgage on ap the penises not specificslhr released from tM hen of to+s mortgage by the A}souatwn
20 Arty agreement nereaftc. made try Mortgigq and Assoaition pursuant to tors rriglWge shalt be wper,w to the rights of the holder of env mterven,ng ben or
entumbrantt
2 t Vpon request of Mgigagq. tF.e Assocrit,On may. at its sole opt,on tom time to time Wfore lint Dayment of an ,ndebtedness secured hereby. make further sd
vances to Mgtgigor. povrded, fwwwa. roar tM tout p,nc,pat secured Mretry ard.emarn,ng unpaid. ,nctuding any such advsrxes shalt not at any time e¦
teed the w,g,r+al prnGpal win secured neretry Mortgages shit! pay ill su.h further advances with interest and the same snarl be secured hereby A!t pov,s,ons
of tMS mortgage snarl apply to each further advance is weft is to an other indebtedness secwed f+ereby Noting nererri contained however. snarl bin+t the
amount secured try th,s mortgage ,t such amount rs ,r+creised try advances made by tt+e Assoc•st•on as herein etsewhe+e wov+ded for to potect the security
22 In the went the Mortgagor here,n, p arryr Subsequent Mortgagq or any person q cwpesatron owmr+t; any •nteresr whatscewr should errcumtxr the txopertr
herein mq[gagtd by an instrument Commonly referred to and krgwn is a 'wrap-around mgtgage wrthq,t fast nhtarmng tr+e whiten consent of the Assocra- i
hon. then. at the option of the Assocratwn. IM ob!:gat,on secured by tMS ktortgage snarl :mmed•atety trecome due aruf payahte
23 To povde the Assocratwn vnth Food Insurance Coverage d the rear property rs row qr he•earte* determ,nM to rw wrihm a speual f!ixxt hazard area as shown
on Flood Huxd Boundary MayFlood Iriwrarite Rate MsD as puW,shed by the Federal Insurance Adm:nrstrar:on
2t At tM request of tM MoKgagq. tM Assoaatron agrees to wawa tM povetuOrif of paragraph 4 rditive to the crsatron of a hitard,nsurance account. povdW.
however. chit tM AffOCration nUms tM roll. K Hs pptdn, to n-rnsuts wen pov,s,Ons of said paragraph 4 is an d~hgat,on of lire Mortgages Mreurxler upon
the happening Ol anti Of tM (dlprring
A Fi+ture to make any payment requrreQ under tM tams of tM rate on q beige the due date thereof
B Fi,ture to comply with tM mfwanu porisans of paragraph 3. q of any of tM other terms and cq+d,uons of ills mottgage w note. or wrM the mwrance
retzunements conu,nsd m tM Declaratan d Cordornm+um and related documents should the mortgsgtd popsrty W committed to cordom,mum
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