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1• That .n order to potKt male fully lM security OI !MS mp!gage. tM Mortgagor. togetMr wrth ird m add+tan to 2M mpnlMy paYn`Mta under tM nrm3 Of tM
rata secwed Mreby. on tM t!p/t+f+ed payment dull of exh month uric+1 iM ti.d ran +f Iuity pad w,ll pay to IM Assoc+aaon tM fpltpw,ng wmf
tore An ,nstaMw.ent M the to*ri e••t! efiefi^tentf 1ly:ttd Or tp ix lit;cd Cgd:'!SS thF ~:etP.zfaf tG"ae+sd by th,f t*w+igeg/ and an utilaurMril d iM pr/+n,um
or pemwms tMt wru WctxM dw and paYabN to ren/w tM u+swance on tM pem+ses covered Mnby against bas by f+re, and wutdstam. as povded
for by paragraph 3 pKed+ng or such other hazard as may reasonably W requ,red by tM Assoc+auon. and an +MnnmMt M tM p/m+um that w+n
t»coms dw and payable to renew tM mortgage inwrenc/. d any Such ,rKtal:mMN shau W egwl. respect+tely- t0 oM•twNhh (litZthl o) tM se~
hmated penNUm p pemrumf for such uiwrinta. and taaef and aSSlffmMU Mrl duf laf eft+rtNted by tM Assoc+atanl less all atfnarnMtf ahlady
veil therefor. tfwded by tM numWr M month u~at an to elapse a./ mtx,U p,a [o lM !fate when such p/mn,m w p/m+ums and taws and
assessments w+11 beco+ne de!rrquMt TM Asstx+atan, wMle apply+ng such paymems to inwrance pem,ums. tales aril assestun/nts. blip/ tM Sarr+e
bKOme dshngwnt. shorn not pay intN/st to tM Mortgagor on sucn funds. and an such payments rnav W commwtglW by tM Assocratan w+th any
other such funds a w+tn us own funds TM lands aro dodged as add+tronal security fa tM wins secwed by tMS Mortgage and Ire wbtKt to use by
IM Assocratan rn payment of "Ian CMrges and bank cO1lKtan cMrges
Ib! A!1 payments meManed •n tM pKedrng subs/ctan Of tAis paragraph oral all payments t0 W mad! order lM raH fKUrW Mrfby anan W added
tpgetMr aril tM aggregan amount tnarepl alien W Dad by tM Mortgagor exh month +n a s.ngle payment to W applied by tM AsfOtratan to tM
fWbw,ng items rn tM ad/r set lath 1 Taa/s. assessments. aril inwrance pemwms 2 late charges' aril bank cp{tKtrert cMrgeS. unlesa pad +n
manMr povde0 rn paHgraph 1 Ial 3 eterest tat tM note sawed Mreby • Amauntart of tM p+rtcrpal of wd rate
Any dabtJency rn tM amount of such agyregata monthly payments shad. unless pad by tM Mo: egagor pro. to tM dw data d tM nest such payment. con-
stitute an avant of default undM tM mortgage Wrthoul wsrver of any right. tM Assoc+atan may collect a 'torn chergi es povded n tM Note
5 Tnat rf LM veal of the paymM+n made Dy tM Mortgagor under (al of paragraph • pKad+ng shau exceed tM amount of payments Ktwly made by tM
Assperaean fa fuss and asseumMts and mwnnce p/mrums. as tM case maybe. such e¦cess shalt W credited by tM Assocratan art sirba/qu/rrt payments
to W made by tM Mortgagor 11. however, tM mon[fJy payments made by tM Mortgagor under Isl of paragraph 4 peced+ng shay not haw been wffrt:rerit to
pay taxes and assessments and rnwrance pem+ums. as tM case may W wMn iM same shorn bKOme due and paYatsh. tMn. tM Assx+alan may. at +ts op•
~y t+on. +mmtd,atety pay such is¦es end sss/ssm/nts end mwrance pam,um and the Mwtgaga snau pay to tM Assoc+stwn any amount nK/sssry te; make uD
o^C the dtl+~rlnCy, and such piymMi fMll ba dw and paYabla Nnih+n thrrtY 1301 days ahlr IM daft Ot mid+ng ,71 nOt,Ce by tM AsfOC,atWn a~ttu+g IWih tM anWUnt
tf wch def+c+tncy If. at any bin/. tM Mortgagor shall fonder to tM Assocutron. +n xcadance w+th tM pov+irons of tM note sxured Mreby. full payment of
t!+e enure ,ndebtedness repssented hereby. tM Assocratan sMU. +n computing the amount o/ sucn ,ndebtedness- cred+t to tM account of tM Mortgagor any
balance rems+mng rn tM funds Kcumulated under tM prov+srons of tort of nor+agraph l
~ 6 To pdmrt commit or wf1N n0 waste. rmpaument a deter,aatron of sad ppparry or any part thereof. and upon tM h,lure of tM Mortgagor to keep tM
~ bu,W.ngs on sad woperry rn good cord+tan or repa+r and mannMnce. tM Assoc+ahon may demand power ma+rttenance and tM +mm/dran repair of sad
tw+ld,ngs or an rncreas! m tM amount of sacunry. or tM +mmed+ate rlpayment of tM debt hartby secured. and tM fs•k:'s of tM Mortgagor to cOmD1Y vnth
r..~.. sad demand of tM Assoc+atan fa s perad of friary 1301 days span ctx+st+tute a brexh of th+s mortgage. end. at tM opt+on of tM Asfoaat+on. +mmedrately
maruro the tnhrc amount of p+ncrpil end +nnnst Hereby secured. end tM Assocutan +mmed.anly and w+ttaut nobCa may +nstrtule proceedings to forKbse
tins mortgage and apper fa tM appantmMt of a rxervlr. as Mre•niher povded. artd +n case of tM refusal. t a enaWh of tM Mort
ma+nta,n sad n~K ry QagOr to rapa++ and
poverty tM Assoc+atan maY~ at rte option. make such repa+rs a cause tM same :o W made. aril advance mpMys rn that What/
7 T~ perform. comply w+th end able by exh and w/ry tM sbputatans. apreaRents cor+d,tar,s end cotenants +n sad pom+ssaY note aril tMS mortgage set
forth
8 To tonally W,th tM wbdmsan reSt:+ctanf and tM munrC+pal toning ord+nantlS apdKiDle to tM mortgaged powNLY• nOt t0 erect Or patriot l0 W orated arty
new bu,M+ngf Ort tM pem+fes here+n mortgagW or to add to or perrrvt to W added to. make or perrrut to W made, any structwai .It/rataM to arty OI tM s:-
,sung smpovements thereon w+thout tM wnttsn consent of tM Assocu[an, and rn tM event o/ srry v+olat,on or attempt to valet! tMse st+pirlataM. or any of
N,em. th+s mortgage a++d all wins secured hereby shall +mmWrately become due end payable at the opton of tM Assocutan.
9 Thst m case of a delau+t M any of tM terms of tMS mortgage and tM uhny of s bin to lorKbse ties or artv other mortgage ertcumtterrng tM w+ttrn described
poperry lM Assoc,a[an sMU W enatl/d to apply. at any bmf w+thout not+ce perd+r,g such forecbwro swt. to tM court Mvuq IunsdKtron thereof Ia tM aD-
pantment of s rKNVer of sir and s+ngular tM mortpsged ppperty. and of an tM .ants. +ncomes. pM+fs. ,styes end rorenues thereof, from whatsoever source
derived and. thereupa~. +s Mrsbs aapessly ewertaneed and spread that tM court shorn fathw~tn appO.m s rKe+ver of sad mortgaged poverty. ati artd
sutgular and of sucn rents. ,ncomes. polite. +swes end revenues tMreot. from whatsoever source derived. w,th tM uwal powers std dut+es M receivers rrt Eke
casts. and wch appo+ntm?nt Shall W made by sucA Court of • matter o) Str+Ct rent to LM ASSOC,atron, and w.thout relertnte t0 tM adequxy or +nsdequacy OI
!h! vita! 01 the pODtrty MrabY morlpsgtd. Or tO 1M stNvency W +nsoltanty Of tn! MOrtgapor and that such rents. pOf+tt. +ncornes. +siws. and rwenuef shall
tit appl+td Cllr Such rece+ver to tM paymMt of tM mortgagor +ndabtadness costs end charges. accord+ng to tM order of such pour!
10 Thar ,n the event the pem,ses Mreby mortgaged. or any part thereof, sM+t W cor+demned and ukM under tM power of em+rteni dpms+n, tM Assoaatan shall
nave the rght to demand that a!! damages awarded for tM tak+np of or +Murv t0 sad wrtm+sK shsl+ W pa.d to tM Assoaatron. its wccessors or ess+gns. up to
ih! amount then unps,d on tMi mortgage. and may W appt+ed to any wmf last paYadt htrlurder
1 : That t+me K of M! lSStn[t of tMS COntrxl and that rip Water Ot any ODhgatron nertun•1!r o• o! the pbl+git+Or, SlCWld hereby. Shall at any brr+e theryaftN W
held to tx a waver of tM terms Mrepf or p/ the pom~ssorY note secured hereby
12 In the event of any default v. any of the tarns of [MS mo•tgape d .n tAe note secwed hcrtbv aria scce:erot.on (nr trio taller. or arty other atwtar. that would
cause the .nteresf pad or payable under tMS oWpat+on to exceed tM .nterest ran author+red btr law. [nth +n such evlrtt all eauss mteteft theretofore pad shall
be Cred+ted to p+nC•pa+ and a:+ iC[rYed and Unpad eaClfS innrlSt snap abate and Snili n0! b! an obi.gat,On of the maker W Ot arty Olt+lr wtrSpn
t 3 Tnat to the extent of tM indebtedness of tM Mortgagor to tM Assoc+at.or+ described herein or Slcurld Mreby. tM Assocratan rs Mreby wbrpgated to tM hen
or hens and to tM rights of tM owner and holder thereof of saeh and every mortgage. I.en or ott7lr encumbrant:e On tM land descnbW f»r/+n. arltrch n paid end
set+shed in whose a rn part. out of tM poceeds of tM ban descr+bed Mrrn or secured tvereby and the respect+w hens of sad mortgages- Mans or otMr /n.
cumbrances. shau W. end tM same end exh of them Mreby K peserved std snass pass to end W ?+eW by the Assoc+atan Mrern as sxur+ry for tM rn-
debtedness to trio Assoc+atron. herC•n descr,txd a he:eD? secured. to the same extent that would nave been peserted and would have bean pisfsd to end
t»!n need by the Assoc+atan lied st been duly end regularly ass+gned. transferred set ovc• and Oe:~vred unto tM Assoc,stron by separate deed of asspnrttent.
norw~tnstand.ng the tact that rM same may W sabst+ed and catcalled of rKad •t bNng Ina +ntent+On pt ine WrtreS hereto that tot forma w+g W sabst,ed and
canc~l+ed of record by tM !alders thtrepf at or shout tM t+me of the rKord+ng of tn+s mortgage
14 Tnat any o1 trio sums of money rrre.n relined to W not pomptly and rusty pad w+tnm tr+rty ~30~ days ne¦t ahr trio same severauy become dw end psyabb.
Or +t each and wary the st,puiat.ons. agreemenn. cond,trons and covenants o! sa:d pomissory note and tn.s mo.tgage. W Nther ere rat duly pertained. com-
~ pl+td w,th and so.dea by the aggregate win unpad u+dar sad pom•ssury note and tn•s mortgage snal+ become due and payable forthvv+th w theresker- at tM
opt.cm o1 the Assoc+auon as lath and compreteN as +f sa,d sggregste win of money were o•:g•naisy stipulated to W pad on such day. anytMng +n sail
p•om~ssory note or here.n to tM contrary notwrtt+standng
t S Thar m order to scceterate tot maturity of tM +rdebtedness htret)y secured because o! trio !a•iure of tot Mortgagor :o pay any tea assessrMnt. bsbhry. obirga-
DOn Or CMUmbrartCt upon Sid ppptrty iS MrNn pp,nded rt Shall opt W nlceSSary nor requ+S+Te that the Assoc'at+on Sha!! hrSt pay tM Sim!
t$ T.+si i!w stntrac: ur abstracts of tale coven the non rimes during the i:fe of th.s mor;gagl. rtmiin in the pOSfeSLOn of tM
rig gaged poverty snau at a!I
Assoc+anon and rn event of trio toreclowro of tMS mortgage or other uanster o1 title to trio mo•tgagN poverty m e.ungu•shment of tM indebtedness secured
Illj herlbY a:l r,yht. dtte dnd interest o! the Mo•tgaga m end to any wch absvacts o! ; tie sna~~ pass t0 LnE purtnifar pr grantaa
t 7 ShOUId the vatd+ty or t+en pf th+s mortgage. o+ tM note secured thereby. W contested by:~ugat.or. or otr»rw.se trio Mortgagor agrees to pay to tM Assttc,st•on
the cost o! defend.ng the same +ncsud+ng a reasonable attaMY s tee
lf3 TO pay all and S.nguiar the COS/S Gharge5 ird taptnstS +rtclud,ng attOrntY S feo5 reasonably incu+red n• pa+d at any lime by the Asspcrat+on. because of the
fa+!ure of the Mortgagor to perform. comply tt+th and sb,de by each arv! every the st~puiat+ons ag.eements. cocd,trons arM covenants of sad pom+sSMy note
and th,s mortgage or Nther- aril every wch leacept for the payment of the mon•My instalirr,tnr as req+rred lnr the Prom+ssorv Note) shin bear +nttrest from
date at the rate of eighteen per cent i 18"4! per annirm until fatty parA
19 Th! ASSOC+at+On Shall have iM r+ghi at any Urt+a aril from Om! t0 Um! and W+tnOUt nOAC! to W COr,Slr,t o! any perso^ t0 la+ r!:laSe any pdtan of tM pemset
from rot ben of fns mortgage. Ibl release anti perfpn baWe for payment of any rdebtedness secured hereby ~ci extend the tine Of payment or altar tM terms
Of payment Of all d any part Of tM UdabtldMt3. W+thOUt affect+ng d rellif,ng tM ptrSOnal i+ab+bty Of any parSOn i+abte (Other loan irty perfpn raleafed pur•
want heretoi for the payment of any win p interest secured hereby and w,ifaUt in any w+s! ahenng vary,ng. rr d+m+nish+ng tM festal eflKts. Or hen of th+s
mortgage on ell the prem+ses not spec+lKally released from tM I+en of th.s mortgage by the Assoc+ahon
20 Any ag+eement hereattcr made try Mortgspw end Assoc•at+ort purwam !o tMS r.,p.rgsge shorn tit wtxnor to tM rights of tM ttpldlr of any mterven+ng ben or
encumtxance
21 GpOn .equest of Mortgago• the Assoc•at+on may at its sole opt+Ort, from t+me to t+mt bolero tut! paymcnt of ail ,ndcbtedness secured hereby. make furiMr ad-
vances to Mortgagor povded however. that the font p+nc+ps: fea'.urld Mrlby and rtma+n+ng ur,ps+d +nclud:ng any wGh advances. Shat! opt it any bn,e ei-
ceed aria or+ginas pnnc•pal win secured htroby Matpsgor sMU pay al! such turtMr advances wstn interest and [M same shalt W secured Mreby All prw+sans
of th,s mortga3e snau apply to each /urtMr advance as watt as to alt other +ndebtedness secwtd hereby Net!^g t~ra~s carsia:ned. frowever. ShaC t+rn+t fh!
amOUnt securM by flits mortgage +f such amOUnt .S ,r,Created by advances mad! by lh! ASSOC+at+on. a5 here+n atsewMra pov+ded for t0 potxt iM securiry
22 In the went tot Mo.rgaga here n o. any wbsequent Mortgagor Or any person or corporatwrn owning any interest wnatsOEVer, should enc+rmbtr the pOperty
heron mortgaged hY an instrument ComrnOrtly refHrad t0 and krawn as a 'wraparound mortgage w+iha+t nrtt obtsrning tM written consent of tM ASSOCri~
e hon. then. at the option of the Assocwtart the oblgat+on secured try th.s Mortgage she+i +r*,m•d+atelr become due aM payable
23 To pov.de the Asspcratan w+th Flood Irnu•ance Coverage ,f the teat poverty ,s raw w r+ereaher Geterm+rved to be w,th+n a spat+st fiootf hsiard arli as shown
on flood Hsrsrd Boundary MayFlood Inswance hate Map as published by tt+e Federal Inwrance Adm,n,strauon
24 At the request of tM Mortgagor, tM Assowtan agrees to wove tM pov+srorts of paragraph • re4trve to tM aeatrort of a M>;ard mwranq accoum. povded.
~ howwlr. that the Assoc+atan nnins th/ r+ght. at rtf option, to rs ,Mon such potr+sronf of sad paragraph 4 as an oblpatan 01 eM Mortgagor f+erwrtder upon
the happening of ant! of tM fotlov+r+rtg
A Fa.lure to make any payment reWKed under tM terms of tM note on or Wlore the due date tMreOt
B Fs+lure to comply w+th Lira mwrarKe prnnsans of paragraph 3. or of any o} the other nrms and cortd+uons of th+s mo!tpaq/ or note. a w+th tM rnswance
requ+rements contused m tM Dlctaratan of Cordom,nium and related documents should tM mortgaged poverty W wmmrned to cadom+nrum
devebpment
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