HomeMy WebLinkAbout0691 4. lAU !n n•+tPr to protect mo•e fatty tM NCWrty d flea rrrortpage. tfN fiAptgagor togelfvr yyrln and ,n addl!w, t0. lne monthly wY•Mr,tf under tM terms d the
Hate 5¦•..,:re•t ne,wby on IM fpecrf•er1 payrnMl date Of each ngnth untrt the fad rate +s lu'fr wd. wrh pay to tM ASSOCVhM+ the IWbw,ng fume
tat An ,nsta:+men• of the tasq ln0 assessmena tetnee p 10 Oe letrred egarnst IM penises soared till tMS mortgage. and an matalimenl of the premium
rir tur•n•un,s that aria DeCOnN dw and pay/bN to stew tM rnwrance on the pemrses coverall hereby epithet bss by fire. and windstorm. as povrded
hr try paragraph 3 peced,r,p, a such OtINr hazard is fINY fNfonebty W tequued by the Afsocrat+on, and an rrtstiliment d the pfmwm that w,N
lru::or.•e due and WYab1e to rar,ayy the mortgage rrtaYNflCe. d snY Such rnstanments shlN be equal respeCNvefY to one•twelryh IU12th1 of the K
urnatetl tuem•um p• pemwms for such erqurlnte. Mil tltef and lsifssrrNnts Mst dW 4s estimated by tM Assotrtl•onl Nss alt mstaumenls slgady
pa,t rr.erefor d•rded Dtr the numbs d month it?lt era t0 elapw or.e month Dior t0 the data wfyn such pem.um a pemwms and tames and
assl:s:mer+ts w,it beCOrM dakrtpuent TM Asfocratgn. wtl,te applying strch payments Io •^surancs pemwms tames and assessments. befrne ins same
hP.ane de:! puent. shah trot ply mtatsl to the iylortgigor On such funds. and sy such payments may be com+mngied (>1r the Assoc+atron w+th lnr
urrie• such funds a with ds own lurtds TM funds are pledged is addrtwnal security to the sums secured by th,s Mortgage and are subtect to use tilt
t'•.• Assucratror+ :n wYr•+eM of "fate chages'• and bantt cotNctron charges
:r•+ n+: payments mentrortM m the pecedng subtfrf:trOn of tMS wrsgraph and at! payments to be made under the note secured hereby sr+ail be added
t •.terHe+ and the aggregate amount tMred shaft ba pad by the Mortgage exh money m s sr^g+e piyr,ent to t,e spphed by the Aasor,it•on to the
••.:+aw,ny !teens ,n the cedar Ertl fWih t ?saes assessr*+ents. and rnsu•ance pemrums 2 late cha gas and bent calect•on charges. unless pees :r•
~••an~+w p•ov!de0 m paragraph L lal 3 InINNt On the noM secured hereby 1 Amw4tahon of the p,nc•wl of fad Hots
Any rf.+f,crwn~y ,r, the amrtunt of such aggregate fnonthly piymeMS shill. uMesf Did by the Mrntgagw pr,o• to the due date d the r,e¦i s,rth payment. Corn
surute err Pvwnt of rfefau4 ufr+fa tf+e matgape Wrihtwt wa+va d any right. the Assxratrorr may cNiect a 'rate charge' as por,rtetl m fhe Noee
fi Tn,•r t+`P to:a~ of tMt ~tayments made b1! t1N frlortgagor under p1 d paragraph 1 pecefl,rp shah exceed the amount d wyment3 xwauy marls try the
Assor,at!u•~ for tames arxf assessments and •rssurartce ptmrums. K fire use may be. such access shah be crrtd•ted by the Assocuuon on subsequent payments '
to rr made by the Mortgagor t1. hovvtver the tttontltfy Dlymenb made by fife Matgiga under ial d wrsg•iph d preced•rq shalt not have been suMrtront to
par race«. and assessments and •nwrante pam,ums as the cast may be. when tM slrr+e shalt become due and wYaWe then the Assoc•at•on may at rts op
n, ,nv-~n•t+atrtY Dav s,xh tares and assessments and rrtsurirKe pemrum. and the Matgaga shaft pay to the Assocrauon irW ama,nt nea;essary !v mate up
:hP dent •ercy. and Suth pdYment shit! tN due and wWbte w!eMn iMrty 1301 days afla tf+e date of marhny of rot•ce by tree AssOCrat,on seat,ny fwlfi tt+e amount
c• suer, ,!r•}~c,enry 11 at arty! Unit. the Mptgigor shill tender to tM Assocwtwn, rn aCCadarKe wdh fr,e tuuvsrons of the note secured hereby lull payment of
thr• en•••e :r„frb•r.!••?ss represented hereby. fife AssoclatrOn sf+ill, m Cwnpututg the irtWl/tit of suSh ,ntlebtedness. tred,t to the xcaunt of the Mortgagor any
ba'a:+cP •Pma•nr,y r•~ n,e funds aCNmulitid under tfre potrswns O/ (a) Of paragraph L
F 'u ['t••n,!t , u•nr•a or suNer no waste. emtSa,rment a deterprilrOn d sad popaty. a any part thereof. and utx,¦+ the failure o1 the Rlatgagor to keep the
h.••+•1~no5 r,n Sa,r1 proterty ,n gOOd COrd,Lror• Or tewH and mam[enaKe. fife AssocratrOn may demand poper ma'nlenar+Ce aryl llr •mmedra2! rew•• of sad
t», una: n, art •••crease r^ the amount o+ setunty, a tM rmmedrate repayment d the dtbt hereby secured and •he fa,!c•a of the Mortgagor to co'•,ply wan
+.f !te•nan.t of t+-e 4sstxrat•on for a per,Od of tMrty 130) drys shill tonsbtub i breach of firs mwtgsgs. and. at the opt•on of the Assocutbn. ,mmed,ately
n,erurr mP enure anwunt of pnr,c,pet and rnbres! hereby secured. and tM Astoc•atron ,mmed!ilely and wuhout notice may ,nsmute poceed•rtgs to fwettose -
tn~-. n!o•LU~utP a••d an^tr foe the aDOO'r+tment of a rreeerva. as tNrarUha povdtW. and m case of tf,e refuse+. rfegtect a rnatxbty of the Mortgagd to repair and
^~..r n:e•~~ ,.+,d property. the Assoc,atron !nay. at rtf optrOn. mike such rewuf p Luse the sar*,e to be made. and advent! moneys ,n that Gehalf
7 T•, tw:!r••n• . t,: r,c•+~' Wrih i•td ab+d! f>,r exh and fvay tfte sUpulalWns. igrNmenlf CO^d•t•Onf and CoyenaniS ,n card Wom•SSWy not! and tMS mortgage set
}b,th
tt Tu ~ „rt•: w.th !nee sudf.v,s•on restnctrons and tM mur,rtrpal ronrng ordinances apphcaWe to the rtrgtgaged property. not to sect o• perms to be rested any
n••w !v Id•rt•ts on the ptem!ses hye,n mortgaged Or to add to d perrtut t0 be adtfe0 to. mike w perm,; to be mad! any structural •!teratrws to any d tf+e es-
:s!r•y •^•pn•:en+rnrs •HP•eon swfhour the written Consent of the AsfOtrat•On. and m the event o? irry yrdat+on o• attempt to allele these s!+putat•ons. or any of
t+,••••. ••,u•t3arir• and ail wins secured hereby shat) ,mmedrstely bKOrn! due and wYibk at the opirOn of the Assocratror+
o r•,,rr r,} •t ,tn}aunt :r• snY of fete terms Ot ills mortgage and ttrs hhng d s bill to forecbse Mrs or any other mwtgage e+,cumtxr,ng the war,rn described
p! •:l»•• A+srx.at!un sha.i oe a^htisd to apply, at irry t+me ,v+thout r,OtKe perWmg such faecbwre art. to the court rtav.r+g turiSd•CtWn tt+ereol foe the aP-
tx,•!r, ,..r,• .,i ..PCe,v!•r of a'~ an6 vrguiar tfte rrbrigiged poperry. and of ill the rents •rtcomes pofits. •ssues and rerenues iherepf from whatsoever source
,k~.::«A :,•~:t to«,P,,.•,pn ,t •s hereby e¦pess?y covatanted and agreed that the court shaC lorttfwdh appwni a rece!ver o} sad mortgaged wOperty. sU and
s~"c~:+a• a::•i r• s,:c`, •ents. ••¢anes. proh!s •ssues and revawes thereof Iron whatsoever source derwed. w,th the usual Dovre+s and dut,es of recovers ,n bye
• as•.. -,.:n , at ,m.nt+`ent Y'ah y made by such court ss • matter of str,c[ r•pht [o the Assocrat,on and w,tnout referer•te to the adequacy o+ •nadequacy of
•r...: , r.t : - •i.^::y rrrp:t,r matgaped. o• to the 8oiventY rn infotventy o1 the Mortgages. and that wen reins ptohs rrxomis. rswK and rerenues shat!
:w h~, s•,~:r •'•~.rwe• to :he payment e1 the mortgage ,ndebtedness. costs and crVrgeS. xcord•r+g to the orde+ of such court
r O t - P. P.•• r•.P p•m-•,set hereby +nWtgaged Or snY part thereof shalt b! COrdlmned and taken antler the power of em•nent dome:n ttr ASSOCUbOn Shah -
rn.• feet • ~!r•^a•*• that a'! damages awarded fOr the tsk,•,g d M rntury to sad pem,ses shalt be p,:d to the ASSOC!dUOn rts successors o• assigns up M
. rn••• _,••pa rn ins +~origsge and mlY be applied to any wins fast arable nereurvJer
t t ; h,,; nr . ••ssen of thrS cUntrxt and that no wi!ver o! snY oDt•gitro^ hereunde+. o• O} the oD"ya:,o+, securey rereh>, shat at any 1,••,e tr,erNfttr tit
,.!.t ;..!.r• , u+ the ;Prins h.•eor or of the pomssorY note secured hereby
? 2 P.rrt n• aw deiau't ,r any of the terms of this mortgage. Or rn the rate secured he•etrtr and dr'ce!erahon by the holder. o• any otrr+ sduahon that would
~ . • . on:4 pr ra+aMe :r ~?e• Ms obi,gatrOn to eiceed the :rtrlsYpte auit•crued b•; law tlx:, •n sr:~h e:e•,t a!: e¦cPSS ,ntP-PSt therett!'ure i,d•A a•,a:'
~ • , f~•,•. na~ a^d a:- ar.uued and unwd access interest shi!I abate and shall not tx an obagatwn of the maker a of any otf,er person
• 3 Trrat •n . ••.!en: of tnP •r,debte•1^ess of r!,e Mortgagor to the Assoc•at•on described here,n or secured hereby tr+e Assocratgn rs Hereby suDrogated to trfe t.en
nr '.o~„ a.,•r to the rights of tHt Dw:,er and hOtde: tt+erepf d oath indlvery mortgage. Uen o• other encumbrance On the bnd Cescribed here!n, wh,ch rs Died and
s ++~sr wnprn •,r .n cart out of the ptxeeds of the roan dtsCnbed herarn a secured Hereby. and try resDectrve bins o1 sill mortgages. bens or ottte• en
•-,-*•txar~• ••c s',+:! ~ a^~ ;he sa^,~ and each of them f+ereby rs peserved and shale ass to and be hell by the Assoc•atron here•n as securiry fa the m
r:r!,••.• r• 'o ••'e Azsrx:at,o•• hewn described a Hereby secwed. to afro same e¦tent that •1 would have teen preserved and would hall tteen wssed t0 a^d
n•~•.: nr,:, ;,r ;r•P 4ss,r. •at:on Hall rt been dun and regularly ass,pned transfer.ed. set over arw delivered unto the Assrxrabon by slpa•ate decd o} assignment
,r,•x••r :tie tact that the sane may be sansf•e0 end conceited o/record. ,t lx•+rg tt•e intent,or, of tt+t• psrt•es hereto that the same will be sateshPd and
. r•. P' nr.t Lv !•x holder; tCHlOf at W about the nine 01 the •etord:ng O/ Sh:S mortgage
1 d T•!-.• a•°: sums nr mnrer h~re,r refs+red to be rtot promptly and fully pad w,tn,n th!rty 1301 ears r.e¦t ahe+ the same severalht become due and peyad!
~ + ea ,.•»t •t.r•y the supu!atans agreements corrdtans and covenants of sad promsso•y rote and tH•s mungage or caner are rot duty perfwn,ed. coin
;•:.•n weir a•uf •+b•d•tn'•+Y tHP aggregate s•rta unpid under sad tuomasory not! and tMS mortgage snaa txcome d:,e and wYaWe fortnwan or thereafter. at the
oprr;n •,r as~•,c•,f•on. as furry ar,d conwtetety is rf aid aggregate win d money were rn,q,narly supubted to De Dad on such day anvin,ng m sad
L•"°"SG;•'r Horn (iI nP•P'n to ;tie Wntgry nOlwrthstand•ng
:5 Tr,,.; „•,..-r to . •P!P•3te t^P matuuiv of tn! rn4lbtfdress nlreby secured blcausc o' tie fi:'u+e or n•P Mortgagor to Dar any tam assrss^•ont lrab•hh et••ca
..ern n• t••arrq ~;teen seed p+oDerty of nerlin pwrded a Shi!1 not b! neclSSarY no• regws~te that the ASSOC•aU•,n snaa t,r57 pat, the Sa'-,t
t6 ' = n. abstracts O! t,ne cJ,ren-,y the mo+tgaged paperty shat' at alt tr^!es du•~ng the t•fe of fns mo+tyage rema,n ,n the potsess•on of :He
n<.~,...+• , ,rrf P.ertt o} rtre forec'osure of ins mrnigage or other transfe• of tr!ie to the mo•tgagM p•oc,er:y •n e¦bngusnmen! of :'•e •^dPUr~dness sr_ured
o•q,~y ~:o•,! ; :?e and ,r,c!est of the Morfyaga .n and to arty wen abstracts of tale shall Dass to the purr r,a5er or grantee
T 7 5•-•• '.f • ....•t•+v o• : r^ n• ;ns'+,artgage. a the note sscu•ed thereby be contested by 4t,ga: on or ofnerwse. tnr Mortgagor erg+ees to wv m the Assocratron
;r, ..a: r...•....,, !He srmP !nS:ud•ng a roasonab!e sttw^er's fee
r 8 .,r•rt ~:^7ula• the lusts charpe5 a•M e¦censes ,nttudrreg attornty s f?_e5 reasonab!r •ncunert nr n.+'rf at snY nine by the Asvx,afto•r t,ecause o• ter
!a•~~~•, r•' r••o !r~n!rnauo• to pn•fot rt con•Diy w•th and able t•y each and every the sbpu+atwr+s ag•PPm.enn r,•x,d!t.rY,S arxf cove^anrt tit sa:4 prornrtSOry~ note
.,nn ^••,•taa•,n. rn .•~th:•: ir,] every Such ie¦CeOt for the payment nl the montHiy mstdl{ment as •eq•„rert by the PrOmsso•y Note• than float ,ntere5l ;tort
•larr at tax. P,r,-teen P!'• cn.^.t 1161.1 par ann;,m unto luyy pad .
to Tnn a.•,•,,:~,.,no^ s•, rive t'x• •'get at snY rime and nom ante to trine and vntffout nonce toe consent o1 any person to 'al re:eax any port,on of she prem,ses
+rr•-- ;t P :~^n n+ rn•s •*•o•rgaa? +bl re;ease lny person treble for payment of any ,ndebtedness secured Hereby. ru a¦terd the tine of payment o+ aaer me terms
o+ flay^,•. a • rl+ ?nv i•a•r tit the ,ndebLedrreSS. w•lHOUt iHect,ng a rNeaAr•g the IltrSOr+a! l,ab•btY of any porso~ I!able !Office than dny person released put
~,:,.tit rn•.
;ter •r:, t••P paym~nf of acv sum W ,merest SeCU•!d hereby and w•thout m any w.S! aKeag vary!ng. o• d,m,rsh•ng the fortes effects o! hen o• stns
u••uaa^ •r^ a' :tie p•em.ses not spec,M1caltr released from the hen of tMS mortgage by the Assoc,at•on
10 t• aa•••^^•Pr; • . •Pa;t•.• :n,••.P tlV Mortgagor and Assoc+atron pursuant to tMS mmtgagP snaa by wperrw to the ngnts of tie Hdde• o! any nrr•r. n!n•J i,Pn q
? t ! ~r•••. •n', :••tr nr !1Ao•t^.aw the Assocrat,rlc may at rtf soil option. from Um! to nine before fu11 paYrr,ent Of a!1 !ndebte!;^es5 secured hereby make Earthly sd
:a^ •r ..r. V'n+!yaq,.r p•o:~6ed however that t},e total pnnt•w~ secured hereby and rtmam,ng unpa!d rntlud•ng arty Suth advances. she'e not at any t,me er-
! r•.r•• •h•• penal n•~•~e+na! sum secured nc•eDy Mortgages shall pay i!i such turtf+lr advsrces w,in ,nte•esf and lhl same shat! !,e seared twreby An prov,s:ons
or ••••s Il?'iP snaa as,Diy to each further idrante is vylil as to all ocher •ndebtedness secured hereby Nothing rrre,n conta!nld However sna+~ nine try
a .•r-t r•!s ~ro•t~age d such amount ~s increased by adwncK made by the assoc,at,on. as heron Nsewhere prowled for to potect the security
7; In !•v •r.• Mcrt•:,gnr horg,n O• .qnY SubSeouent MOrtgaoo• o• any person or co•lxtrat,on ownmr, any :nrerect whals!wver shnuM encumtlPr the DrODe•?y
• i e;n^ , •nstr•,rr.?ni rommorely rvferred M and k::owr M a wrap~atOUnd ^•ort4ag¦t w,ihrwt first nh;am.ng the wraten Mnynt n} tr,e ASSd_''a-
r, „ •r .r .,f t~,~ Acsoc,atron. the obirgat'or' secured ny Mrs 1ltorrgage tha'I •mmerf!arety hPrnmP due and pavabi.
. ,f - -r•• x!m Flna'1 insurance Coverage d the real prrplrry s now O• he•eafte• dete•m,+rd to it Mthm a sper!aI /{orxf haraM a+Pa as shown
nr + err! !+rts••! 8n~~~.fr•Y "~t,,p:Filxld Insuta^ce Rete Map as publ,sherf try tl,e f'e(teral Ir.xrrance Admmrstrat,<xl
24 4; +•r ^s: tree Vt~•tgagor the Assoc,aUOn egreK to waive tf+e povrswrrs of plrigriph 4 relative to trio treabon of a harard rrtfurince account. prov,dW.
!x r.••:c•.:~• Asvraat,^. ryta,ns the right. It rts optq*+ !o re•!nstatl such pw+sans d card wragraph 4 as an obtfgabo^ o• the Mortgagor Hereunder upo^
rhn r.fl,t •r n.ny •a any Of •r,l fJiK,w,ng
A c are:,te to :Hate a'y Davment required under tfte tams d tM not! on a Defoe the due date tf+ereof
R f a~~ :rP ±r, r•,m;;ry yvth t^.e rnf•nirte pdv+lirortf of paragraph 3 W d my d the other teems and cw,drtrons d this mrntgige Or Hots. or w!th tf+e inwrance -
r..•>,.••.•c rr,~!a'^r+d m the Deciiratrort of COrrdWtrr;rum and related documents sHOU+d the mortgaged property tr. tommdted to condo^••tt!um
•JP i••f ~'~nt
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• IC1.'VI-li ~
~ T/P•A
8t1~K PaGE 691
• MLCA l7
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