HomeMy WebLinkAbout0986 . - , r ?.~Ce ~ ! l,~
~~J.~S
3. The mortgagor covenaats sad a6rees that if he shali Edl. to pay said ipdebtednees or Any ~?art the~reot whet~
due, or shall (ail to pe~[orm any covenaat or a6reemept ot tlw imtrumeat or the pmmuwry note aecured hereby. the
entire indebtednas henby secured ~hall immadi~tely becoipe due, payable, aad collcctible witbout notice. at the
option of the mortaa6ee or assi6a~, regardle~s of maturitr. ~nd tbe mort~agee o~ his aaigas may before or aiter eatrv
~ell ~aid propertr without apprai~ement 1 the mortsaRar h~vina waived and ariKned to the mortRa~ee ap riRhts ot
.~PPr~i~e~ent) s
at judicial sale ~puebuant to the provisiotu ot 28 U.S.C. 2001 1~); ur
(n) at the optioa of the mortaaaeo, either b~ Rnction or b~ ~olicitation ot ~ealed bid~, for the lua6at aad
bat bid complyiaa ~vit6 the terms of sale aad mamer oi papment specified in t6e publis6ed notioe o[ wle, 5nt
aivio~ four ~weelcs~ OO~iCE Of 1~lE time, tetms, and place o[ such sale, b~ adveHi~emeat not le~ tl~aa unce
dnrin~ eac6 ot ~aid fonr Mreeks in a newsMP~ P~Whed or dirtribdted in t6e oouat~ in ~rbic6 ~aid proP~7
is situated, aU other notice beia~ henbp ~rai~ed b~ t6e mort;aaor (and said mortga6ee, or any penon o0
~ be6alf of ~aid mortaa6ee, ma~ bid ~vith the nnpaid iadebtedna~ evideacad b~ ~aid note). Said sala s6aU be
6eld at or on the property to be sold or at the Fedenl, county, or city oourehowe for the count~ in wWch the
v propertr ia located. The mortaaaee is hereby anthorised to e:ecute tor and oa behalf of the mortaa6or and to
deliver to tLe pnrcLa~er at snch wle a su~cieat oonveyanos of said property, ~rluch oonrey~ace ~hall oontain
reeitals as to t6e happeaina of the default upon rrhich the e~ecution of the power of ~ale herein ~rrantcd
depends; utd tlie said mort~aaor hereby con~titnte~ and appoints t6e mortaagee or my aaent o: attoraey of tLe
mortaasee, the a~mt and attornep in f~ct of ~aid mortaaaor_ to make wch reciab and to ~~cnte sud
coaveymoe and Letrbr oov~naab and a~rees that the reciaL w made ~hall be e8ectnal to bu all eqnitp or
right of redemption, ~omeatead, dower, and all other exemptiona of the mortRaRor, all of which Are 6ere}?~- •
ezpseasly Maived and conveyed to the mortaa~x; or
. _
(ul) t+~ke auy ot6er apptopri~te action pureuaat to etate or l~'ederal statute either in et~te ur Fe~lrra!
court or otherwi~e tor the diaposition of the property.
! , . I.i.:
Iri t6e eveat ot a~ale aa hereinbefare provided, the mortaaaor or an~ perotu in pwsaszon ~der tLe mort-
gagor s6all then become md be tenmte holdina over and ahall forthwith deliver pweeasion to the purchsser a~
such sak or be summa~ly~li~poM~
~~p,e'd~ iq aocordanoe with the provi~ions of larv appUcable to teaaat~ holding over.
The power and a6enc~+l~6Mdb~ ~~I are coupled with an interr,at and are irrevocable by death or otherwiee, and
ue arante~ ~u cmm~lative to the remediea for eolkction of eaid indebtednese provided bv law.
4. 1be prooeeds ot an~ ~ale of s~id propettr ia acoordaaoe ~vith the precedin6. Pu~Phs shall be applied Srst
to par tlre ooib and ~ of ~aid ~ale, tbe espeo~es incurc~d br t6e mo~ce for the gnrpwe of protectin6 or main-
tainina eaid property, and reasonable attorney~' fea; secondly, to pay the indebtedneas eecured hereb~•; and thirdly,
to pay any aurplua or eioer to the penon or per~oas le~lly entitled thereta
S. Ia the evmt said proptat~ is wld at a jndieial foreclosnre sale or pnrsnant to t6e poMrer o( wk hereiaabore
6ranted. aad tbe prooeed~ are na soBScient w pa~ tha total indebtedne~ ~ecand by dus instrnmwt and e.ideaoed b~
said promi~aq note, the a?ort~ee wiU be entit]ed to a deficiency jndpneat for the amonnt of the de~cie~ey witho~t
?~~+d to ~pp~siaanewt. -
' 6. In the event tIu mortgaaor fails to pay any Federal, ataty or local ta: asse,esment, income tex or other tax
i liea, cLarae, tee, or ot6er ezpeme charaed aaainst the property the mortaagee ia hereby authori:ed at his option tu
~ pay the eame. Any snms w paid by the mort~aaee ahall be added to and becom~ a part of the principal amount of thc
i indebtednas evideaoed b~ said note, ~abject W the same terms and condition~. 8 tLe mortga~or ~haU ps~ and
~ di~cbar6e tbe indebtedaar evideaoed by said promi~wr~ note, and shall pay anch ~ums and shall dischuge all
~ taur and lieas aad the oosta, fee~, and ~pen~ of makio~ eaforcina, and racecati.n6 tLi~ mort;aae, t6en tbis mort~a~e -
; rhall be canoeled md san+endered. _
I
F
E T• 1be ooveaaab Lee+ein cvntained sha11 bind and the bene6l~ and advantagea el~all inure tu the rrs}xK:tive ~ur-
' ~ce~wn and a~si~rr of the parti~ h~reto. ~}x~e+?u n~ed, the wi6ular nnmber ahall iaclude t6e plnral, the planl the
E sinanLr. and tLe ws ot m~ awder ~Lall inclnde all ~eaden. ~
8. No ~raiver ot any eovenant herein ot of t6e obliaation ~ecared hereby sh~ll nt any ~ime therrafter be held
; to be a~ruver o( the terms hercof or of the note ~ecurad hereby. -
9. A jndicial deeree, order, or jndamen~ holdio6 ~ny provision or ~wrtiou o[ thi,i iurtrument invalid ur uueu-
fot~ceable ~hall not in an~ wrRy impair or preclnde the enfot~cement oE the remaininE pro~iaons or pottioas of thia
iastrameaL -
}
:
C
~ 10. AnY artttea aotice to be i~sued to th~ mortaa6or purwant w tl,e provisions of this iastrnmwt sball be ad-
~ aeared to t1+~+ at
( ~ 3052 Sunrise Blvd., Fort Pierce, Florida 33450
~ - aad an~ ~reiqea notioe to be iMOed to tlu mort~ee ~6a11
` be addrered t° t~e a~°rt~~ ~t 111 Oranqe Avenue, Fort Pferce, Florida 33450
6 . ~
~ ~ ~ '
~ SBA FORM 928 ;2.731 ~
, _ - _ _ . - - 3