HomeMy WebLinkAbout2886 ~
RIDER TO MORTGAGE dated November 1975, between
CLARENCB W. IRWIN and ESTH~R M. IRWIN, his wife, as mortgagors,
'and JOHN A. GULDEMOND and NAOMI E. GULDEMOND, his wife, mortgagees.
1. This mortgage is sub3ect and subordinate to the certain
mortgage, dated May 16, 1969, made between H. LAWRENCE SCOTT and
MARY G. SCOTT,`his wife, as mortgagors, and FIRST FEDERAL SAVINGS
AND LOAN ASSOCIATION OF MARTIN COUNTY, as mortgagee, which mort-
gage was recorded in 0. R. Book 177 at page 2448 of the public ~
records of St. Lucie County, Florida, on May 26, 1969, and which
mortgage constitutes a first lien upon the premises hereinabove
described, now in the reduced principal amount of Nine Thousand
Six Hundred Seventy Dollars and Fifty-eight Cents ($9,670.58),
~ C
with interest through November ~d , 1975, and which mortgage,
by its te~rms, constitutes a first lien on said property (such
mortgage is hereinafter referred to as the "first mortgage");
2. With respect to the principal indebtedness of mortgagor
to mortgagee in the sum of Thirty-two Thousand Five Hundred Dollars
($32,500.00) evidenced by the note of even date herewith, made by
~ mortgagor to mortgagee and secured by this mortgage, mortgagee has
transferred to mortgagor on execution hereof Twenty-two Thousand
~
~ Eight Hundred Ninety-four pollars and Forty-two Cents ($22,894.42)
~ loaned and mortgagor and mortgagee hereby agrees that the balance
of the principal indebtedness (the "balance") totaling Nine Thousand
Six Hundred Seventy Dollars and Fifty-eight Cents ($9,670.58), has
been validly incurred by mortgagee hezeby agreeing to retain such
balance and, as provided in paragraph 3 hereof, to pay to the holder ~
~ of the first mortgage the Nine Thousand Six Hundred Seventy Dollars
~ and Fifty-eight Cents ($9,670.58) unpaid principal balance of said
~ first mortgage. ~
~ 3. (a) Mortgagor agrees to comply with all of the terms and
~
~ conditions of the first mortgage other than with respect to the pay-
ment of principal and interest due under said first mortgage.
(b) In the event mortgagor shall fail to comply with all of
~
RICHARD D. SNEED, JR. P.A.
ATfORNEY AT LAW
700 VIROINIA AVENUE. SUITE lOZ - FORT PIERCE. fLOR10A 33a50 -(30S) 46'3-23:~0
~ eoox~~~
rt ~ . . . ~ . .T _ . . ~"~4
;
S`..~3i:y'Se s3'~~+~..~ p. . . . I ~
~
_ . . e.. ~~.~x' x . . . . _ .