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SPBCIAL MORTGAGS CLAUSESs All pa~stures, fencea and buildinqs shall be
mafntained with necessary malntenance practice and in the event of an~
violation hereunder, the mortgagee~'~shall qive advance written notice
not less than thirty (30) days of any alleged violation and mortgagor
ahall have reasonable time to cure and satisfy this requirement after
said notice. ~ ~
It is hereby understood and•agreed by and between the parties
that there exiats upon all of subject property an underlyinq, prior, -
superior fir~t mortqaqe executed by Sellers-Mortqaqees unto the Federal
Land Bank of Colwnbia, Mortgage Loan No. F012009631, recorded in O.R. Book ~
211, paqes 2$38 through 2841, public records of St. Lucie County, Florida,
in the present balance of SEVEN HUNDRED THOUSAND DOLLARS ($700,000.00).
That this mortgage shall not be subject to this conveyance nor asswaed
by Bu~er-Second Mortgaqor, but shall be the sole responsibility of the
Sellers-Second Mortgagees.
PROVIDED FURTHER, that said existing first mortgaqe and the
underlyinq note shall not be altered, amended, or the balance increased
or~said note extended or modified in any manner without the written con-
sent of Buyer-Mortgagor and/or release of l~nd under this mortgage from
the force and effect of any proposed alteration extension, further ad-
vances, etc. Sellers-Mortgagees hereunder shall make all required pay-
ments due under said first mortgage of principal and interest or other-
wise, under the terms of said mortgage and note.
In the event of default in any installment of principal and
interest or otherwise due by Sellers-Mortgagees under the first mortgaqe
f
; and note, the Buyer-Mortgagor hereunder, in such event, shall have the
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[ right to make payment of any and all sums due under the first mortgage
~ herein referenced and all sums
' , paid by Buyer-Mortgagor toward the first
~ mortgage shall,credit pro-rata all sums due under urchase mone second -
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mortgage herein, and shall be a credit pro-rata to the second purchase
money mortgage, and such required first mortgage payments paid in default
by Buyer-Mortgagor shall abate pro-rata installments due under the second
mortgage to the extent of the payment to the first mortqage. A~1 prin-
cipal payments under this second purchase money note and mortgage shall
f ~
E be applied cumulative toward partial releases without further considera-
i
; - tion.
` 600K~~ PAGE 5V !
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