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HomeMy WebLinkAbout2366 if any, to the said party of the first part, its heirs, successors and assigns, and in that event the s~id party of the second part, its successors and assigns may becomg the purchaser at such sale, and no other purchaser shall be answerable for the application of the purchase money. In the event of any default in the performance or observance of the conditions and covenants of the said mortaage hereby assigned, whether before or after any default in the performance or observance of the conditions and covenants hereof, the said party of the second part, her heirs , successors and assigns , may take any remec2y by ~ore- closure or othezwise by the said mortaa_qe conferred for the recovery of the debt and interest to be secured, or to enforae or realize the security therefc+r, but it shall be not encumbent on it so to do. In the event the holder or owner of this collateral assicmment places it in the hands of an attorney for collection or enforcement, whether partially or wholely, then the party of the first part, its successors and assiq~ns, aqree to pay all costs of collection includinq abstract, title searches, court costs, copy of depositions ar other transcripts of court proceedings, and a reasonable attorney's fee, in the event of any default hereunder. Any notice herein provided to be given to the parties of the first part shall be delivered or mailed (certified or reqistered mail) to AARRIS CONSTRUCTION CORPORATION, at 410 Orange Avenue, Fort Pierce, Florida, until and unless otherwise instrncted. That in the event of t.he nonnayment of the $19,620.00 promissory note or in the event the first mortaages in favor of First Federal Savings and Loan Association of Fort Pierce, ~ cease to become in good standinQ, for a period of fifteen ~ days next after the same become due, the party of the first t part hereby forfeits all rights, title and interest that it ; might have to have said title of said mortqaaes and the notes C they secure revert in it; provided, however, that written ~ notice of default has been delivered to the party of the first ~ part be registered mail to its address at 410 Orange Avenue, = Fort Pierce, Florida „ advisinq said corporation of said default ~ and further advisina said corporation that it has ten days to Q bring its accounts into qood standina. ~ That it shall be the responsibility of the »artv of the ~ first part to see to it that the first mortaaves referred to ~ ~ above in favor of the First Fec3eral Savinqs and Loan Associa- g tion of Fort Pierce are all in good standinq at all times. ~ ~ ~ That it shall be the responsirilitY of the party of the ~ first part herein to see to it that the taxes, fire and ~ ~ windstorm insurance are not in default and an endorsement ~ be qiven to the party of the second part to cover his invest- > ment in each mortQaqe. That upon the payment of the said $14,620.00 x~romissory ~ r.ote and interest according to its terms toqethe~ with all char_qes due thereunder, this assi~nment shall he null and void ` and the aforesaid s~curities sha21 be re-assi4ned to the party ; i of the first part. _ . - ~+~ur c. Nou~ A!~ORM[~ A~ L~w k' • . ! i-w NORTM /OYATM P~t~u. /~.oaOw ; ~ •MM •~st~MOMt N~.~1~1 ~ ~ ~ ut ~ - . . . - ' - - - , . ~ . c..r.~_.~_..o = . ~ . - ' _ ~ . , . . - . - - ' - .;S