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HomeMy WebLinkAbout07614. iha~ ~n u~Aer tu P~ota~cl mp! fully l~N tfcur~ty OI Ih~6 mO~tp~~ tM Mo~tpipa. topltMr n~tn ~nd ~n a:ldrt~or, to rhe month'~y pay~~:e~IS u~dlr t~~e t~rmx O' tne n~,t~ se~ urld hlreb~ o•~ ~n• saec~a~d ar+~.m an oi •,cn ~w~+en u~~,~ cn. s1~d oOt~ ~S ~ylly p~~tl w~u p~Y to t~9 AtSOt~dbcv~ the fo~bw~ny Su~ns ~a~ An ~ns~a~~rt•ent o1 tM ua~s u+d ~ss~ss~~nls hvwd a to W Iev~W ap~ms~ the W~m~sss co~er~ pv M~s monyaye •~~d an msti';•ngnt OI th! Vrennum or ~uem~ums th~1 vr~ll blcOnN dW ~nd p~y~Dh to r~w tM msuqeK~ on ~IN p~m~s~s covtied herebY ays~nst bss by f~re snd w~~~s!u~m as p~ov~ded 1« by pa~ap~aD-~ 3 W~C~O~np. w suth otAN Maard ~s m~y ~~asonaW~r be ~pwrad by tha Assoc~atw~ ana an ,ns~a~imen! o~ tne prsm~um tnst m~} tKr:cwne due anA pay~bN to +~Mw tM mo~tp~p~ ~~swant~. ~~ ~~y Such msts~~ments s~su tx eQuat resuechre~y fn n~e fwe~hn 11~ tZtni o~ f~e es a~~ated psm~u~ a pamwms ia such ~nsur~nc~. ~nd ua~s ~nd ~ss~um~nts neat due iss esumated bv tne Atsa:~aron~ ~esa au ~nstaume~ts ~~~ead~ t~ad ~~.a~ela d~vdW by tl» numba o1 morstns t~~t ~~~ w Naps~ a+ ma~th pr~o• to ~hs date ~Men such p.nr*~~m vr p~e~n~~ms snd t~~es anO sssessm~ms w~U bscom~ d~6rquMt TM AsfOd~tqn. wMl~ ~pplpnp suCh paymerts to ~nw~a~ce prem~ums taaes ar,d assess+~~ems be+we tne same ~ cxcon~e de~~nquem fRaH not paY ~ntNest to tn~ MatQ~pa on suM 1„nds ~!H! ill Sv.h p~Y~ntntc +naY trC Cumm ny,ed fry tne Assa.~ana~ w~tn a~y ntht• such fur.ds W Mnth Nt Own 1u~+d~ ~h! ~undi ~r! ~~CQM iS ~dOrtqn~~ Setu+~ty fo~ tRe s~ms ucured b~~ 2n~s blor.yaqe a~~d s+e sub~ect to use br t~~e Aswc~st~o•~ ~~ p~ymMt OI ~"I~t~ Ghir~f •nd bant CWtKtw~ t~V~pOt 'd' All wyn+pMt ~Mn1Wnld m tM D~KM~nD SuD~Ct~ O~ tMf Pi~ig~iD~ i~+d ~'~ piY^~~^tf to A! made u~ }er t~e ~ote secwM ^e~e0y sna+` (~ adtlld t-:q!tne~ ard ~ha syq~~qats ~mount t~e~eo~ shs~~ De pad Oy th~ Mortpapa escn moncn ~n a s~nyie paY^~e~t to De avn~ltl by t~e Assx abun tu t~~ r„iiuw~r.q ~te•~~s ~n the wde- y~t tortn / T~ies assess~nents and ~nwr~nce prem~ums Z latr v~arget and Da~~k co~~e:ro~ cna~grs o•~iess pa~c~ • r~annn~ prov~de0 ~n psrp.~pA l Is~ 3 Inrer~st o~ the rot! s~cuisd he~eby 4 Amortuat~o.~ o~ tr.~ prmapa~ ot sa~d •,ote A~ry dehc~enr~ .n f~~e a~nou~t o~ sueh agyreg~te mo~thiY paY^Knts sha~l umeu pad Ay ine Mu~epayo. pn.,~ tu tn~e d.,e ~~d1B OI t11P ~IC~i W.^_n payn,~nt cun st~wte an evem o~ .fefauN urwfe. th~ mwtyay~ Wrthout wa~ve~ ot ~rryr •~ght the Assoc~anon ma,r rp11K.T a irre thB~yr as prow~f~vt ~n t;~o N~te ~j Thd' ~~ t+~. ~.,tai o~ ~ne wr~ts m~ py ~ne Maeyspor urda 1~) at p~rspr~ph 4 p.~cedmy sn~u e~ceed tM i~wuM o~ yayme~fs actua~~v maoe bv tne Assoc.s~an IM ia^ss aM ~ssessme~+ts u+d ~~w~u+ce premwms. ~s the us~ m~~ p~. such e^cess snsii be ved~ted by the Assx~at~on o~ SubStQulM piymeMi tn t~ maAe b~• tho Mwtgapp 11 Aowever. the tnontAly WymMts m~~ py ~A~ Mortp~pw uMer la~ o~ psrag~sph 4 preced,ny sna~~ not Aave Aeen w~f~uen~ to pav b^es and asseu~~en[s a~d ~nwn~cs <<em~ums. as tne uu ~~sy bs ~ wnen the ssme sn~i! p~ome due anA payab~P ~4en the Assoc~atro~ mar at ~ts op !.o.~ ~mrr~eJ~a~e'y pay such 1aa~s ~nd ssssssments a~tl ~nwqnce prem~~m arJ the Mo~tgaga shai~ pa~ ro t~e Aswoat.on a~r a~*+our.t n.rcessa~~ to mate up the def« ~R~Ky. and wcn payment s-ylt be du! snd psyiWe wrtA.o tnnt~ !301 days afta tne date of ma~a~ng u' not~c.e by Me Aswuai~o~ se~f~~p tu.tn tne a~,o.,~t ~1 s;,cn def~cwnry If at aMr nme. ttie Mwtpspo• Sh~tt tOnde: lOIA! A3souatWn. +n ]tcorda~te w~t~ tne provs~ons o~ the +~07! secu~ed ne•e~y }~~~ payment c~ nM e~i,rr ~~]~o;ed.,ess ~epresentsd ha•eby. the Assoustan sna~F ~n compuunp t~+e amp~,nt ol sucn :-~eA2ednE;s CrNd~t t0 th! iCtou~t 01 ~ht hlortgaq0• any Da~ancP ~ema~~~'^q '• ihe -undS s:CUmul~tQd uffdN th! pOV~SWf~i OI fi1 0~ pi~iQ~YJf 1 6 to pr.mrt co+.~m~t ar suNer r.0 W~Stl. ~mp~umfnt p d~ilnp~tqn O~ Si~d p~Oplr1Y o~ ~^~ va~t ihereo} a~h ~po~ ~~e fa~W~e o~ u~e Mortgaqo• ro ree~ ~he !Ni~~d~'+qT M+ Sdw1 pt>plrty M gpod tondtqn a rps~r anA m~~nt~nint~. t~+e Aswuahon msy den~~..d p•ope> md~~tMan_g d~+A Th! ~mm~~dt! ~~pa~~ O~ Sa~d t~.nf~nus ~ en ~ncrease ~n ih! ampunt o1 ~untY o• tM ~mmedut! ~lWY^+enl O} t1+e de~t hl~ebV se:~red and ~ne tarc-~ o~ the hl~rtgdgo~ to comn~y w,th sr~f A.^~and o~ the Asvx~aran ~a s perwd o~ ihuty 1301 dsys sbsN ca+sfduro s bpc~ o} th~s mo~tga9e and at Me opLOn o! tn~ Assoc~aGOn ~mmed~ately matwa t!w entne aTourt o~ pn~upsl sntl x~terest ~e~ebr setu+ed •nd the Assouat~on ~mm~~ate~y a-W w~t~~out nuhce •nav ~~~Shiute p~OCeMLnpS to }brectOSe th.s rno~tqaye aM1 nVWv }or th! ~ppo~ntment ol ~ recerve~ ss ne,r.~sh~r wov~ded. and ~n case o} tnr re~~sai ~eqsect w~nab•ht~• o! tnF Mo~t~ago~ to reaa~r a~A ma n:a=n sad o~~~ty t~e Assoaatq~ m~y st ~ts opt~on make such repa~rs a cause tne same to Le maM: a~a adva~r.. ~none~s ~~~ tna2 tr_na~~ 7 t_~ ~,P.ri,r•., ~.,m~iy w~M and aWde by eacA a~+d every tAe st~pu~atwns. spreem=nts. co•Kl~r~o~s a~1 co~e^a~ts ~~~ sa•a y~~• ~ss:r, ~ocr and tn~s ~~e~tgaye ~et }t)i~h 8 T~. comPN w~th t':e wCA~v4qn reStuttqnS snd lh! munK~pa~ romnp adnances app~KaWe to tne monga~..d p•uot~tv ~~ot to erea o~ perm~t to be erecte~f an, r+Pw bur.d~nqs v~ tne pre~n~ses M~e~~ Twtpsped a to ~dd to a pe~m~t to Ce sdde~! to. macr o~ ce~~~~t to oe maae a~v snuctura: e~ccrauo~s ~o a~y o! tne e^ ~s!:•x~ ~~~p.o.Pr~ent~ ;hereon nrthOUt th! wnitln COnKnt O~ thR 4SSOC~ifWn ~nd m tAe erent o~ a~Y Y~~~'at~w~ o. a:te~rpt ro v~o:afe tnese st~pu~at~o~s o~ anr o~ ~ti.•T rh~c mn•~uay« a~.d au sums secur~d ner~by sha~~ ~mm~d~~teM ~come due snd oayaMe at cne oct~o++ o~ ~ne Assouatro~ g 1 na~ ~~• : asP o~ a Aelault m sny o~ th! terms O~ t~~S mwipipe s~A the f~bny O~ i bdi to (oreGbse t~~s o~ any othor mo+lqaye enwmp~nn,y Y~e w~th~n Qr.sc.~bod ,~~~;w~!y ~nr ass~r.~at~a. stia~~ be enf~eieC to apph at anY t~me w~tAOUt rat~ce peod:ny suc~ ~orec~ow~e s~~t to tne cowt na~~~g wnsA~ct•on tne~eof ~o~ :~~e ap ir,.+.~ma~~ ~~ a~ccP~v~~ o~ ~~~ a~+d s~nyu~ar t~+s mataapeA prope•tr ar+d o~ a~i the re~:s ~ncomes D~ofas ~ssues am: re~enues tn.r~~ h~~m wnatsceve~ source 'R~nP'1 a~f rho~e~:iq'~ ~t ~S ~!rlbY !iplSS~Y COrenintld ~n0 1g+led th7t tAe COUrS SR7~~ ~orthv~~tn ancx.~:~t a+E'_C~~P~ o} sa d matgaged u~o[~r~t~ a~~ ar+d s,~+y,,~a• a~+~f o} w~n •enrs ~~comes. pofits ~ssues n+d revenues thereof hom whatsoe~e~ sa.~ce aer~v«d w~tr tre ~wa~ ~,we•s a~d e~res o~ rcce•.e~s ~~ kte ~~i.••s a^d y. ~~. at~:N~~~<<ne~t s~au De made t+y aucn caa~t ss a matte~ o~ st~~ct ~~gM ta the Assw ~ar~o~ ar.a ,n,•*~n.,e rnferg^:P t0 ~he atlCqJd~y Ot ~*+dOM~udCy O~ •M~ .at~,P n~ t~+o e^~:r.rtr ~t~eby mp~tga~eA o+ to tne sO~ye~cY o• msotver.cy o~ tht Mo~tgag~• a~ei Mat wt~~ •r•~:s p~n~~~s ~~[omes ~ss~~es a~d .e~e~„es sna" .w ,,, a4 b. s:,cn •ecene- 2o the DaY^'ent of tM ~*W~tQ~pe ~ndebtedness costs a~d c~~a~pes auo•d~~y s~~ t^e o~de~ o~ s~.c~ cou~t 17 ~ ~~,~• m•n.. e. e~• -t~e n~P^~,ses *ereey mo.tgaped. o. a~Y Dan tne•eof sna~~ De condemned anu take+: u~dt' !hp iNJriE• Gr 4"~~r,ant ppmd~~ l~C ASSOC.dhO^ Snd!` tia~.~ •n• .:qnt +•, d•••~a~4 that s'~ damages ~war0ed i0~ the Ss-~rtg o~ or ~n~u•v to sa~A D~em~ses s~a'~• be ca~d ro !'+e Asso,~~~it~o~ !e s~c:essnrs o~ ass~~y^s ~., to ,.• ar~~,:.•.t P•••~ anpa~d on tmS moRgay! ~nd ~+sv Oe avo~~ee to any SumS :iSS DdYBbio ne•e~.nce~ 1 7 ihe! r~r~a s n~ •be -sse~[e o! 71~s coM~sct a~+d th~t no wa~ve~ o~ arty ob':yatwn h~reu~ee~ ^• o~ t~~e ob ya:~~~•~ ce~.u•ed ~e~eb~, s~a~~ ar arty r~•^e ;^~reatte• Le .. f rn e~ a a..,vP. p} the te•.-••g he~eoi or o! the D'om~ssory note sewrea hereby 12 t• rhe o.e~: of a~i de~a~~it ~n a~r o~ the ~erms o~ th~s mo•tpape c~ ~n tne ~~ote xcu~ed ne~ebr and atce~e~a*~o~~ b~ thc ^.o Cer ~• ary p~ne~ stua••r~,: !nat nou'C • a,~w rna ~nt~•asr na~d o~ cwra~• u~de• tn~s oW~gahen to eiceed the :nt.•esr:3la au!Mr.ieA t,y aw t~o~ ~n t:, •~ avP^• a' ~.c~,c .~rP.«y !nP~P!'~~I~•P (IA~fl l~.l'f t~- ~•e~l.rwf to p~~n~_.pa~ ar.d a: a[vued a•~d u^pa•A eacess ~neerest sha'+ aDate a~0 s~a~~~ not be a• ot~ -yat~u• u1 tne ~nake• o~ o' a^~r ot~e~ Pe~w~ 7 i ~r.rt te the •^te~t ot tM: ~ndeDted~ess o~ the Mo~tpspo~ to t~+e Assousiwn deu~~bed ne~e•~ or secu•eC re~e~, the pss~c auo~~ ~s w~en~r suD~ogateC to t^e t.er. o• t~.ns a~i to t~.e ngnts o} the vwne+ snd bo!Eer thereot o~ essh aRd every mortpspe. be~ o~ othr enc~~+txaRC. on ~ne ia~d CescnDed nere~~ wn~cn ~s pa:a a~d s_~r~s~~nf ~n whole x~n na.t a.,t o' t++e pro~eeds o~ the ban desv~bed ~+ere~~ o~ secu~M hrehv a^d ine •esoecr.e +~ens o' sa~0 ~+o•tgages ~~e:+s o~ otner en :umbra~n snau be and the sa~ne u+d esc~+ of t~em Re~eby ~s peserved s~+d shai' Cass to a~+d De ~e~a ur u~ Assoc~at~o~ he~e~~ as secw:cy ~o~ tne m ;fe~redrecs c-~ tr+e A~soast~m he~e~n desc•~eed w nereby secured to the same e^:e~t t~a~ ~r wou+d have Geen p~ese•rea a~tl wou~C nave oee~ vasud to a~d l~r. ne~d by ~~,e Asur_vt~on hsd ~t bae~ du~y ~nd ~e4ub~~ ~ss~ed Vans}er•ed ser ove~ a~d de ~.e•eA u~to ~nF Assoc a•~o~ by iepa~ate UBCA o~ dSS•g~mCnt npTwrthc+.~nd~nq thp fdCT That th! S~mt m~y DC Sit~S~~ed s~d ca~cei'ed o} reco+d ~t De~~g ~ne ~^Tent o~ O~ ino Dd~i•PS hQ'P~U ~!+ae c~e sa~n~ w:~i sp sa~s~~cw a~~ car~.oi~..~! or -er~~d by the ho~de~s thereot at o• sbout !he ~~me ot i~e record:~p o~ t~~ s mn~cgage 14 Tha! ,t a•+y o} ~^~ SamS O/ mp~V nT~l~n r!flnEd LO b! n0t D~Ompt1V ~~ ~~~H D~'d w~t~~^ t~~rtr ~30• days ~eR: a'ta~ tne sa~^e se~.e~a~~y beco^~~ due a~d aayaD!e i~~! Pac^ a~~o ev~r.• u.e sc~nu~at~o~s ag~eeme~ts. co.w~t~ons ano co~ena~ts of sa~e aom~;~.~ .~crr a~~C m.s ~~u•igaye u• e•e^e* a~e no~ dulv Ut~~u'med ! um ~r•ert w~t~ a~A aD~•SM by the agg~egste sum u~W~d u~Wl~ si'O WOm~ssory npte a~+tl th~s mo~tgagt 3~a•~ beco^~r d~.:• a~h oavau'e b~tnw.t~ o~ t~«reahe~ at me .Kmu~ o! Me Assnc~at~on ss f~~ir ~~ coTv ete~r ss ~f sad apy~epa~e sum O~ m0~ly wCe G•~f. nd ~~ s~ o~'area eo be c,r~~ e-~ s~,c~ dav a~~;ti~ng ~n sa~0 ~~r~m.ssnrr ~ot? ~~ he•e~~ to t~e co~tr~ry rotw~tnsta~WRp 15 Tn~r ~~ rvd.~ ;o arce~e~ate the m~tur~rv ot t~e ~~debtrJness Pe~eby setu'ed b!tauSt o! t~e }a ~•e o' ~~P 'L~o•tyayr ro ua. ~~~v ~a. .tssesti^~rnt aU ~•t~~ oD'•ya •:.r.~ o• e~:u-nbra~ce uOO~ ss~d Wooe~tY as he~e~~ wovtled. ~t sha~l ~o! Oe '+ecessa•v ^o~ rro~-: ~ rr rr,ar r~e Ass~y_.e• .~• v~a fvv pav t',o sa^~e 75 Tna• r~P at~cs•a-t ur abssratu of t~t~e core•,ny rn~ mortQaped Wope'tv sna:. at a~' r~~^es d~• •~y •'+r 'e v' f^~s n.,.t~ayP ,.,.a,. ,^ r^.v ~SSCSS'On O~ '_ Acvx~ano~ arxf ,~ ewen! of the ~o~rclou:re of th~s mo~t~sae o• ot~e~ [r8^s~e. o• •~t~e to tnP .n.,.r~~,a..: p.•,o~••. ~... e.r.~u , s~-^e^; p~ •n~ ,.~6~b•rO~,ess sn._,,,eA r...~Ppy ,~.~ .~yne t~•*v ana ~me~est qf tne MortpaQw ~~ a~W !~ anr sucn abstra:ts o' +!'e s'~e~~ cass co tn.~ ~~„•,_^ase• a~ ~•a••re? 17 S'~c~:tA r•~e ~a:~~~t~~ o~ '~e~~ o~ th~s mortgape. o~ tM ~ose secu•ed the~ebv be co~teste~ Av ~~ga••o~ n• nr^e•w se ~>e Vle~tqago• ~r~~ees to va~, •o •^e Asso:<at~on . ~ . ~~st of de'e~x7~^y !h. yame ~nclud~~+g a ~e~sOnib!e i!ro~rteY s ~te 18 io Pa! at~ a-rf s,nq~ita~ ttw c~sts CRa~ges and ei0er~teS ~nr.'ud~np ettCmeY ~~eec ~Paso.+=~tN~. ~n~ .~ •o~! .:;a-:f a! a~•, • mr h~, •. •• ASV~F~an~,n ~H.ca.~c.w n' !M ~aJu•e n~ tre Mort~la~• to f~e~for~r. COmW` WA11 2M aD~Af` DI' CdCh dnf] PLCIy 1h~ Sbj~U'd •On{ a~~.~.,m.4 ,rc. ~~.,.f.,••,~ns .~,.,T rn~:~r•a~~a n} sa~d .'nm~~N~ry nt~T< d'M 1~lIG ~'1(If~(~.{uP M PIjt1Pi aM tver~ suth ;P~CtPt f0~ ihC DdY~*`Cnt nt t~~r /'~(l~`1~1~\ ~'~t~.f~:m4ni dS 's•~i y~'1~~1 (~. 'hp P17T~t~~~•• ~`{nfP ih~~~ ~J~.`ar :~ ~!•P[T ~f[S"1 ~ta•n aT !hn r,~:o ~~I n~~hrp..n t`Pr ~enr fl$'Y7 ~r annum untd fully p.~~A 19 inP Acstx~at-c+•~ ShdU hdvE the nyM: it ~rty br'~! ~nd }rpm Lm! [O t^~t d~d W~thCtit nObC! tc> nr ~p~ypn. ~~ a„~ v.•~o- •o ,d~. •o .ase anr oo~rvn o' ;'~e p~eT:sPs /•om ~h~ i~.n v~ th~s r^btgagt ~b~ rdNSe i~y plrsorr I=~p~t }O~ PsYment of a~y ~~debteOress sec~•ed !+ere6y ~c • e^tF~~ ~^e i^~e ot paime~t o• a~:e~ tne te•ms n~ ~w~mont ~f a'; n~ an~ part o1 rhe ~ndebteCness w,t~out sHect~np p. roieas~np tne pe~sn~r. ~•ab.~.ry o• an~~ ~e•son ~ ae~P +o:ne+ tna~ an~ pPrw~ .o ease.f n~• sua~t no..to~ ~o• tn~ pav^ent of s~y sum o+ ~ate~est sscu~ed -~e~eby aMf w~:~+out m any w:x a•te..^Q va~r "9 ^. ~,'. ^.s•~ •,y t^° !o•-es e~'PCrs o• e~ o~ r~ s ~tvaqo r+ a~~ the P'tm~SlS nOt SplC~f~C7~~y ~e~tased lrom tha hen of tn~s matyage 0~' ~he Asso~~aT:c.~, 20 A~ti a?~er~•m ne.Pake.• m~Ae trv Mortgsgo~ and Assoaat~on pu~suanf ro tn~s nw•sgagP s^a~ D.~ s,,:~«•~c. •.~ •^~ •.yn~s ~' tne nn:ae, o~ a,,, ~ar.~.P~ ny ~,en or e••~ u m:ra nc. 2' . UCn+~ •vqwst o~ Mcngaq~• the Atsx~atrOn m~y at ~ts so~t oD4o~ ~~om t~mt to i~me pe•c•e ~u'~ Oa~.^~e^! n} a~ ~^<]~Giwl~es5 se~.~~M ^e~eGy ~*+a.e'o~t~e• a~1 v,r.;.es ce !l'o~tq+9o• ~+o~~~ded noweve. thas the tota~ p~~o.s~ xcured hereby a~d ~e~^a~~~ ~g u^pa~d ~r.r. ,,~~.~~g a~v s,.~ ~• ad~.a~cec sha~~ ~ot ar a~y t~Te e• ce••~ in. o..y.nai pr~r.[~pat Sum slKUrCd h~rlbY MOripiQp Sh~'i peV 7~1 Suth furt~!• ddvantCS w t^ nte•es' a-~a r"•e sa~~a s^a• be sa~ re~ ^e•e5v A+ prpv~ve~t ~~ 1!ns r~or~~a3a s^a'I aop~y tn .MA i~rihe• advante as we~~ is to s~~ othes ~~debtedrtess xcu~e6 he~eby ~+•~c^~^~ ~r~t~~ cn^~?a ~~ed however sha~~ t~m~! the ar~-.,,~r se~. ~.r~f M r~,s ~nortpape ~f sucn smount ~s ~~c.essed by sd:s~ces made by !rte Assava~.on as ~a,P •, e!sr,ti^re n•o.,aoo fo~ eo c~~tect tne <e~u•,e. .. I~ rrv Pv..,• t~. M~•tga~• h:.~~n w any sut~y.~uenf Mo+tga9M os anv oe~ce~+ o• ~prpp.r!.~.n r.~tin,•..F ~••~. .., •s.ae ;.~idt;:.N:s~. tnn,,~r .--._:,~:e~• cne n,nca•r~ h~.e~n nM.t~lqe~: hY ar. ~nstrum!nt tnmmp~iy rof~n.M ro a~rt 4nown as a W~aD d~eu~+d mo~r~a~jv w~!n~,,,r 1,5! ~t.rq,..~..q fnP /.~~Re^'.•inwnt ~t t~e AscnC•a hon thon at rnP oet~on ~r rh. Assoc~atron t~+e oA{~gat~on socv~eA Av sh~c Monga~ c~,a~~ T~,wt~.,+~~; r~, n.,.v ~,;P .,~,~1 ; a,arr~o ~3 To ; r„v,.}o t~w Acc~c~~t,,,•, .mfh FI~ Insoranre Gove~age ,t tAe rpa' p•M~nrt~• :c now ro he•ea!ta~ rt.~te+^r,s.M •-~ :w .•;~th~n a scw- a~ 1:~~M ~+a~a•,• a•ea a¢ sn.~wn nn ~~~rrt Na7a•~ BO~t^~ta•'; J~-ap"RdXI InSU~dnt! Rare Ma~ as Dub~!Shpd by }ha FMPrq' Incuran~p l.rl~*~n.cr•d;,.•n Za At rho .Mu.st o~ the Morgsgo. t~e Assoc~at!On ~aNS LO w~~v~ iM prOV~s~orts Of Dir~yr~ph L re~aUve to the ~..eat~on of a ~ara~d ~~surance accowt p~ov~aed h,wer.~ •~et ~~ Acs^c~at~on •ets~~s tM ~~pht. ~t as opta~. to n-~roiate sucn p.w~s~ons of sa~d pa~ag~aDh 4 as sn ob!~gst~o~ o! t~e Mortgapo~ ~e~eo~de~ upo~ ;nP na~~y~,~-~q ^t any o~ the fabwrnp A ia.~u~e tu rak~ a~v paY~*+ent rpuN~d u~Wr the te*ms o~ the ~ote o~ W Oefo~e t~e eue date tne~w~ 8 ~a•~ _f~^ ta ~':'*•G~Y w•Th Lhs ~~fur~nC~ pOV~S~f O~ p~r~0•~ph 3. Or pf ~ny o~ th! OtAe~ tlrms a~+0 tonO~LOnS o~ th~s mOrtgdg~' o* note Oi w~th t~! :nSUranc! ~ •M7~P'P!^P'1T5 co~tam~ rn tM Det4r~tan o~ Condomm~um ~nd rel~ted dotuments s~u~d the mo.tgsged v~onerrr be commrtted to conapm~n~u•~+ •~n.~n:7(1'~tN1~ ICI-Nl-7i T/P-A ~ ., ~e~c,~ „~ ~ ~~ g~x346 P~~E 759