HomeMy WebLinkAbout1703 Suppl. to Loan x403 ~
THIS "STR~_A1ENT PREPAREO 8~ 2S3z02
_Clyde P. Platts
Secw~ty Federal S~vinQs 8 Loan Assouat~on . M 4 R T C, A G E
ot Ind~an Rrvav Cow?h ~ ~
S~ath Averwc and Twenty Fust Slreet ~1 i~ : .
vero Beach, flw~da 32960 Loan No._ _ 940__ s
THE UNDERSIGNED,.~-____--_-,
BENNIE M. AILISON and REBA I. ALLISON,,_his wife__________ _
of Fort P tgr4e Counry of S~`~~.~1 , State of Florida, hereinaher
refer~ed to as the Mortgagor, does he~eby mortgage and warrant to SECURITY FEDERAL SAVINGS AND
LOAN ASSrJCIATION OF INDIAN RIVER COUNTY, a torporation organized and existing under the
laws of the United States of Ame~ica, hereinafter re f?r~ed to as the Mortgagee, the followi~g reaf estate
~n the County of__~ Luc i e in the State of Florida, to wit:
i
From the intersection of the centerlines of Oleander Avenue and Sixth ~
Street, according to the plat of White City, as recorded in Plat Book 1,
page 23, Sai~t Lucie County, Florida, run North 330 feet; thence run
East 940 feet to the point of beginning; thence co~tinue East 120 feet; ~
thence ~un South 170 feet; thence ru~ West 120 feet; thence run North
170 feet to the point of beginning.
This is a second mortgage and is subJect and inferior to that certain
rta rtgage made by Bennie M. Allison and Reba I. Allison, his wife, in
favor of Security Federal Savings and Loan Association of Indian River ~
County, dated November 1, 1971, and recorded in Official Records Book 196,
page 2564, Public Records of St. Lucie County, Florida; and subsequently ;
modified by Modification Agreement ~ecorded May 5, 1972, in Official i
Records Book 202, page 452, Public Records of St. Lucie County, Florida.
Any default in said first mortgage shall automatically constitute a
default under this mortgage.~
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~ If a conveyance should be made by the m~rtgagors of the premises herein described, or any part
thereof, wit`~out the w~itten consent of the Association, and without assumption in regular form of
law t-y the grantee of the obligations to the Association created by said promissory note and this morY-
ga~e, then, and in that event, and at the option of the Association, and without notice, all sums of
money secured hereby shall immediately and concurrently with such conveyance become due and pay-
able and in default. The Association reserves the right to withhold consent to any such conveyance
ar~d assumption until and unless satisfactory financial reports and other pe~sonal data required by the
Association are furnished to the Association by the party acquiring title to the premises, or any part
thereof. By giving its consent to such conveyance, t he Association shall not be deemed to have released
the mortgagor hereunder from any liability hereunder. The Association may deal with successors in in-
ter~st with reference to this mortage and the debt hereby secured in the same manner as with the ;
mortgagors, and may forbear to sue or may extend time for payment of the debt, secured hereby, or ~
ott~erwise act without discharging or in any way affecting the liability of the mortgagors hereunder
or upon the debt hereby secured. The Association may also deal with the Mortgagors and/or with -
~ successors in interest with reference to this mortgage and the debt hereby secured by forbearing to
~ sue, extendinb the time for payment of the debt, providing for different monthly payments and/or a
difFerent interest rate, and by other express modifications of the contract, without losing any priority
~ the Association has over other mortgagees or lienors or holders of any junior interest in the property
secured hereby.
Together with atl buildings, improvements, fixtures or appurtenances now or hereaiter erected there-
on or placed therein, including all apparatus, equipment, fixtures or articles, whether in single units or
centrally conirolled, used to supply heat, gas, air conditioning, water, light, power, refrigeration, ventila- ~
tion or other services, and any other thing now or hereafter therein or thereon, including screens, window ~
shades, storm doors and windows, floor coverings, screen doors, awnings, stoves and water heaters ;
(all of which are intended to be and are here5y dec lared to be a part of said real estate whether physic- . ~
ally attached thereto or not); and also together wi~h all easements and the rents, issues and profits of
said premises which are hereby pledged; assigned, transferred and set over unto ihe Mortgagee, whether
now due or hereai;er to become due as provided in the Supplemental Agreement secured hereby. The
Mortgagee is hereby wbrogated to the rights of all mortgages, lienholders and owners paid off by pro-
ceeds of the lea~: hereby SeC:Jf~,'d eDOK213 PACE~~oO
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