HomeMy WebLinkAbout0141 Exhibit B
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This is a purchase money second mortgage and is inferior
to a first mortgage in favor of First National Bank and Trust
Company of Stuart, in the amount o£ $28,000 for Duplex A and a ~
first mortgage in favor of First National Bank and Trust Company
of Stuart in the amount of $28,000 for Duplex B, which mortgages
mortgagor has assumed and agreed to pay according to their terms.
The mortgagor covenants and aqrees to make all payments
and to perform all conditions and covenants called upon in said
~ prior mortgage now encumbering the property and default shall
constitute a default of this mortgage. In the event of said
default in any such payment or payments, conditions, or stipula-
tions, the mortgagee, without waiving the option to foreclose
herein reseryes the right to make such payments or to perform such
conditions or stipulations so as to maintain the prior mortgage
; and prevent foreclosure thereof. Any and all such sums paid or
;
~ expenses incurred upon the behalf of the mortgagor together with
~
; interest there~n from date of payment at the rate of interest
F
f prescribed in the note un'derlying this mortgage shall be added to
~
the mortgage indebtedness and be secured by this martgage. .
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