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Home My WebLink About2400 ~ 1 ~ MORTGAGOR'S SUPPLEMENTAL AGREEMENT ~~9S THE UNDERSIGNED, Loan No. g3 ; i , County of , Statc of ~ herei~a[te~ nferred to as ihe Mortgagor, hereby exccutes end delivera to ' , SECURITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF INDIAN RIVER COUNTY f a corporation organized and existing under the laws o( ~ THE UVITED STATFS OF A11iERICA ~ ~ hereinafter reterred t6 as the Mortgagee, this Supplemental Agreement. pursuant to a Morigage executed and delivered concurrently herewith, and this Supplemental Agreement is expressly made a part oi said blortgage, which is turther identi&ed as Mortgagee's Loan No. Said 111ortgage. including the Supplementa) Agreement, is made to secure the indebtedness secured by said Mortgage and e~•idenceJ by note therein drscril~eci and bearing said i Loan No. and to secure the pedormance of the Mortgagor's covenants herein contained. THE MORTGAGOR GOVd~IANT~ A( l) To pay uid indebtedness ~nd the interest thereoa as herein and in uid no~e prorided, or ~ccording to anY agreement e:tcndin6 r the time ot paymrnt ~hereu(; 12) To pay when due and betore any penal~y auaches ther~to all t~xrs, apecial ta:es, special assessments. w•al~r chargea, and seMe~ srrrice chargrs agaiast uid propertr 1incluJinR thuse her~toforr Juel, and ~o (urnish \tor~Rag~e, upon request, duplicate rec~ipts Ihere(ur, aad all such items eit~nded against said prupe~ty shall be conelusively deemed ~alid (ar the purpose o( this requirrmrnt; ~3) To k~~p tl.r improvem~nts no~r or 6ereatter upon said premises insurecl against damage hy fire~ and such o~her haurds ae ~he ~1ortKaare mar require tu Lr incurnl aRainst; and to p~u~ide puLlic liaLilily insurance and such othrr insuranc~ as th~ DIon6~gee E may require~ umil .aid indebtedness is fullY paid, or in c~x ot tureclosure, until eYpirati~,n ot the period ot redemption, tor ~he Iull insurable ~alue th~reof. in ~uch companies, through such ag~nts or brokets, and in su~h (urm as ~hall be ~a~isfutury ~o thc'.11onRa6cr; such insunnce puliri~s shall remai~ rith the ~lortga~ee dutins said periwl or periods, and cun~ain th~ u<ual clause satis(actorY to ~h~ ~tortgagee making them paYable to the ~lortsa6ee; and in case o( toreclosure ule parable lo ~he uMner oi ~he cett~6cate o( stlq oMner o( anr deficiencr. any rcceiver or redemptioaer, or ~nr 6rantee in a\laster's or Cummissioner's de~d; ar?d in case of luc+ und~r SUfII PI~IICIfS~ /IIC 1longaaee i~ authorized to aJjust. colleet and cumpcomise~, in its disctetion, all elaims ~hereunder and to e:ecute and drliver on brhalt oi th~ \1or~6agor all necessary pn?ofs of loss, receipts, ~ouchers, releasri •nd acquittances required Io br ~i6ned by the insurance cumpanies. and the ~Ior~gagor agrees to sign, upon~e~rand, all receipts, iouch~n and relea~es requirrd ot him to !~r ~iFned br Ihe \tortgagee for such purpose; and the \tottgaRre is authorized to applY the proceeds of any insuranr~ claim tu the r~v~~rati~•n o! ~he property or upon the i~drbtedness hereby secureu in its disctetiun, but monthlr payments shal) conti~ue until sai~l indel~trdn~« is paid in full; 141 ImmediatelY after , destruction or damage, to commence and ptump~ly cumplete the rebuildinF or rr-t.~ratiun ~f Luildin~c and improvements noM or h~reafter un said premises, unless '~IortgaRee ekcts tu apply oa the indebtrJne~s ur.•~I h~~rrL~• thr pr~~~ds uf any insurance cov~ring such destruction or damage; (51 To keep said premi;es in 6ood eondi!ion and rryair, Mithuur :.aste, and ir~~ (rom any m~chanic's or other lien or daim o( lien not espressly subordinated to ~he lien hereuf; ~6~ \ot to mak~, ~uAer ~~r {~+rmi~ anr uniaM(ul uK o( or ~ny nuisanc~ to e:ist on said proprrtr nor to diminish nor impair its ~alu~ by any act or omi-s~un ~o act; ~7~ Tu eumply ~i~h all re~quirem~~ts of law Nith respect to mortgaaed premises and the use therto(; ~81 Not to make, suti~r or permi~, ..ithout the Mritten permission o( ~hr \tonRa6ee being 6rst hsd and obtaioed, ~a) anr use o! the prope~ty (or any purpose uther tt?an thal for Mhich it is noM used, ~bl anr altrratwns uf th~ improrements, apparatus, appurtena~ces, (~ttures uc e~qu:pment nuw• or h~~ea(ler uQon saiJ pruprrty, 1c1 any purchau on conditiona) sale, lea<~ or agreement under which title is res~etved in the vendor, o( an~ apparatus, 6xtures or equipment to Le placcd in or upun any t buildings or improvements on said prop~rt~: (91 Ta pay any Iat or ac:P..mrnt Ir~ievl a~;ain~t thi. murt~;a~:r or any uotr w~•urr~l her~Ly L~ ; any go~ernmental body. B In order to pro~•ide for the pa}~ment of taxes, asse~sments, insurance premiums, and other annual eharges upon the property seeuring this indebtednes~, I promise to pay monthl}• to the \IortKagee, in addition to the ata~e payments, a sum estimated to tre equi~alent 4 to one-twelfth o( vich items, Nhich pa}~mrnts ma}•, at the option of the ~lortgagee, (al lk held b} it and commingled N~ith other such ; , funds or its o~n tunds for the payment o( ~uch items; (bl be carried in a share account and MithdraMn b~ it to pay such it~ms; or ; ! (i•1 be ~~reJited to the unpaid t?alance of said ind~?~tednecs ac recriced, procided that the \IorigaKee adcances upon this obligaiion sums i sufTieient to pay aid items as the same accrue and become pa~able. If the amount estimated to be su6icienf to pay said itemc is not ~ E cutTi~ient, I promise to pay the difference upon demand. If auch sums are held or rarried ir? a shsre aceount, the same are h~reb~ pledged ~ to further secure this indeLtednesc 7'he Alottgagce is authoriuJ to pay said items as charged or bilkd M~ithout furiher inquiry. ~ C This mungage ctintract provid~s for additional ad~ances which may be maJ~ at th~ op~ion ot the \lortgagee and secur~d br this mortgage, and it is sgrecd that in th~ event of such adranc~s the amuunt th~rrof mar be addrd to ~h~ murtgage d~Lt and ahall increase ! the unpaid balance of ~h~ nw~ h~r~by secured br the amount of such adsanc~ and chal! be a part of said not~ ind~btrdn~ss und~r all of ~ the t~rms of vid note •nd this contract as (ully as if a new such note and comra~t w~re ~zecut~d and delirered_ An Additional Ad~anc~ : ~ Agnrm~nt may be gisen and a:~cepted for such adrance and pro~•isiun may br made (or diH~r~nt monthly paym~nt~ and a diHrrem interc~t j ~ nt~ and .~ther ~:pr~ss modi6cations of tht rnntnct, but in all ot6er rrsprcts Ihi~ contracl =hali remain in full forc~ and eHect as to said ~ inJebledness, includin6 all advances. ~3 ~ ~ D Tha1 in case of (aiturc to prrtorm any of th~ ~ovenants herein,.~iort~a~~~ may Jo on \tortgagor's brhali ~~~rything so corenanted; i that ~aid ~lortgaeee may also do any act it may J~rm nrcrs~ar~ to pn~trct ~he lirn h~r~of; that ~lor~~:a~or will repay opon drmand any moneys paid or disbursed by ~tortgagee {or any o( the atN~~~ purp~ws and ~uch mnn~~s tu~:~~h~r Muh intere~t ~h~rcun at th~ highest ~ rat~ for which it is then lawtu) to contract shall become so much additional ind~Medm•ss cecured by thi~ morlgage Nith the sam~ priority ~ as the ori6insl indebtedness and may be included in any d~cree torr~ lusing thi~ mor~RaE~ and b~ paid out ot ~h~ rrn~s or Pi(K'MdS o( ~ ~ ule of said premises if not othenvise paid; that it shall not Le obli~at~~rr upon t6~ \tongage~ to inquire intu ~h~ ~alidity of any lien, ; encumhrance or claim in adv~ncin6 moneys as abo~e authorizrJ, but n~~thing h~rein e~muin~d ~hall br cnns~ru~d as rrquiring Ih~ ~tortgagee to adrance anr montys for any purpose nor to do anp act hrreunder; and tht ~tortgagee shall n~r~ incur any personal liability b~caux ot ~ anythin6 it maY do or omit to do hereunder: ' ~ E That it is the intent hereof to secure paymmt o( said nnt~ and obli~:ation rhe~her th~ entirc amount shall hsre been advanced ' ~ to th~ ~tortga6or at the date hereof, or at a later dat~, and to secure any oth~r amount or amounts that mar be add~d to the monga6e ~ in3•~btnlness undcr the terms of this mort6age contract; ~ F That in the erent t~ownership of said propertr ot any part therrof b~com~s rrsted in a perwn other than the Mort6aaor~ the ` \1nrtRaaee mar, without noti to the Nortgagor, deal with such surce~.v~r nr successora in int~rrst wi~h re(erence to this mortgage and ~ ~he debt hereby aeeured in the same manner u rrith the ~1ort6agor, and may fortxu ~o sue or roap extend time for payment oI the debt, ; ~ecured herebr, rrithout disr_hu6in~ or in anr ~sar aHectin6 th~ hahility oi the ~tottgagur her~under or upon the debt herebr secured; ~ ~ G That tim~ is ot the ease~cc hereo[ ~nd if de(adt be maJe in per(ormance o( ~ny cor~nant herein cuntaioed or in makin6 an7r payment under said note or obligation or any extensiun or renewd thereof, or i( procrcdin6s Le instiwted to en(oree any other lien or - char6e upon any oI uid properiy, or upon the filing e~f a pr~+ceedinE in bankrup~cy br or against the ~Iortgagor, or i[ the Mort6a6or ~hall make an escisnm~nt for the bene6t of his creditors or i( hia propertr be placed und~r control o( or in custody o( anr cuurt, or i( the ~tortgagor abandon any of aaid propenr. then and in an~ o( said erents, the UortRagee is hereb~ authoriud and empowered, at its op~inn and without a6ectin6 the lien hereby created or the priority o( uid lien or anr ri6ht o( the ~tortaagee h~reunder. to declare ~ ~uhout notice, all sums secured herebr immeJiately dur and payabl~, whNher ur not such de(ault be temedied br ~lortgagor, and applr to»ard th~ payment of said monRa6e indebtedrtess anr inJebtedness o( the Mort~agee to the 1lfort6aaor. and said Monaa6ee mar also immrdiat~ly proc~ed to (oreclos~ this morigage. and in any forcclosure a sal~ may be made o( the premises en masse ..ithuut o6ering the = srr~ral parts srparatelr: - H That ~he ~tortga~ee mar emplor counsel (or advice or oth~r k6a1 vrvice at the ~longa6ee's dixte~ion in connection ~rith anr ~ dispute a~ to th~ debt her~br stcurcd or th~ li~n o( this In~ttum~nt, or any li~igation to which the liortga6ee mar be made a partr on 4 account o( this li~n or which maY sH~c~ ~he ~i~l~ ~o ~h~ prop~nr securing the ind~l~t~dn~ss herebY srcur~d or wrhich may aBect said debl or - lirn snd any r~a~nabk attorn~r's (ees ~o incurted ~hall be adJed tn and b~ a part of the debt herebr secured. Any co~ts and e:penses r~asnnably incun~d in the (oreclosure o( this moriga~~ and sal~ o( th~ propcr~y arcuring sh~ same and in connection with anr othet dispute or Iiliqation aH~etina said debt or lien, includin6 rtavmably ~yimatrd amounls to conclud~ the tranuction, shal) be added to and be a ' F_'` part o( ~h~ d~61 herrbr stcured. All such amounts shall be payabl~ by the \turtRagor to the ~tortga6ee on demand, and if not paid shall be includtd in anr decree or judRm~nt as a part o! said mortgagc d~bt and shall indude intnest at t6e highest coMract nte, or it no such contract rat~ th~n at the le6al rate. ~ . 1 In ca.e th~ mortgaR~d proprrly, or an~ part ther~o(, ~hall ~x uk~n bY condemnation, tht Mort6aaee is h~rebr empoKered to ;"r collec~ and ra~~iv~ all compen~alion which mar be paid for anY proprr~y uken or tor dama6es to anr propert~ not taken and all eondemnation comprncation so r~ctir~d .hall be (otthwi~h appli~d b~ lh~ ~1nr~gagre as il may dec1, lo the immediate reduction o( the indebtcdness xc~r~d h~reLr, or 10 ~h~ rrpair and r~ston~ion o( anT proprrly so dama ed, provided that an e:c~ss o?er the amount oI the indebted- ~~p n~~s shall br d~li~•eted to Ihe ~1ott6agor ot his s~i6n~~. ~ R 182 3 . : ~ 600K K~ _ . _ ~ . _ • . ~ . _ . _ ~i - , _ 4 ~ ~~3 ' y . . n, t r. . . ~ . . . , _ . _ _ . . ~-,k '~~s