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HomeMy WebLinkAbout0859 SP~ :IAL :~:ORTGAGE CLAUSES: ~ All pastures, fences, buildings shall be main~ained witn r.ac~ssary r:.ain~enance practice and in the event of any violation :areuader the ::~ortgagee shall give advance written notice not less ~r.aa tairty (30) days of any alleged violation and mortgagor shall :~ava reasona5le time to cure and satisfy this requirement after said notice. I~ is hereby understood and agreed by and between the parties t:.at t~ere exists upon all of subject property an underlying, prior, supzrior first mortgage executed by Sellers-Mortgagees unto the rederal Land Bank of Columbia, Mortgage Loan No. F012009631, recorded i;~ O. R. Book 211, Pages 2838 through 2841, of the public records of St. Lucie County, Florida, in the present balance of SEVEN HL;NDRED T:~OliSA~~D DOLLARS ($700,000.00) . That this mortgage shall not be s~bject to this conveyance nor assur.~ed by Buyer-Second Mortgagor but snall be ~:ne sole responsibility of the Sellers-Second Mortgagee. Provided furtner that said existing first mortgage and the ;;:.~e~Z~ning note shall r.ot be altered, amended or t'~e balance iacraased or said note ex~ended or modifie3 in any manner without ~.za written consent of Buyer-~iortgagar and/or release of land under I~ ' , ort a e froT tne force and effect of any provosed alteYation ,.r.is g 9 extensioa, fUrtner advances, etc. I Se~iers-N.ortgagee hereunder sr.all make all required payments Gae under said first mortgage o~ principal and interest or otnerwise u: der the terris of said mortgage and note. - In tne event of default in any installr.?ent of principal and i.^.~erest or other~~ise due by Sellers-Mortgagees under the first = .;.~rt,age and note, tne Buyer-Mortgagor hereunder, in such event, snall nave tze right to raake payment of any and all sums due under ~ ~,.:.e ~irst :.tortgage herein referenced, and all sums paid by Bnyer- ::or ~gagor toward the f irs t mortgage shal~ credit pro-rata alI su.:s cua u:.der ~urchase rnoney sec~nd mortgage herein, and shall k~e a credit nro-rata to the several second purchase money mortgages, anci such BOUK~9 FAG~ ~sJ~ . 9 ~ T u . - ~ ',~"~~-'s;,=+ z' d ~I..' _ ~ ~ ~s~ ~ A . . . _ .