HomeMy WebLinkAbout0961 RIDER TO MORTGAGE dated January 30 , 19 78.
be tween ~~L S. SUNIl~ER and BARBARA J. SITMNER , hi s wi f e
as ~iortgagor~ and gg~~,y ~N DeWITT, a single adult
as :Iortgagee.
1. This mortgage is subjec t and subordinate to: The certain mort-
gage. dated March 11 , 19 76 , made between
nAVTn ~L~TTTT anrl R~Ri,Y ANN nP WTTT ~ as mortgagor ~
and F7R~T F V NGS AND LOAN ASSO('TATION OF FT. pI~RCE_
as mortgagee, w ic mortgage was recoraea in ~ne oi~ice ~i ~«e
Clerk of the County of St. Lucie , on March 19 ,
19 76, in 0. R. Bk. 250 , page 401 o the Pu ic ecor s o
St. Lucie -~ounty, an w ic mortgage constitutes a
first mortgage lien upon the premises, now in the
re uce principa amount of $ 12 499.69 ,~with interest from
December 21 , 19 77 • (~ucTiL mortgage is hereinafter
r`e~erre to as t~Fie " ~iortgage . ) '
2. With respect to the principal indebtedness of mortgagor to
mortgagee in the sun of $ 24,000.00 evidenced by the
note of even date herewit , ma e y mortgagar ta mortgagee
and secured by this mortgage, mortgagee has conveyed to mort-
gagor on the execution hereof real property valued at $ 24,000.00
and mortgagor and mortgagee hereb~ agree that the balance o .
said principal indebtedness (the 'Balance") totalling $ 12,499.69_
as of the 30th day of Januar , 19 78 , has~een
validly incurre~ by mortgagee ere y agreeing to retain such
balance and, as provided in paragraph 3 hereof, to pay to the
holder of the first 'Kortgage the $ 12,499.69 unpaid
principal balance as o said date of sai irst .ortgage to-
gether with accrued interest.
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; 3. (a) :~Iartgagor agrees to comply with all of the terms and con-
; ditions of the first mortgage other than with respect to the
~ payment of principa~ and interest due under said first ~
F
~ mortgage.
~ (b) In the event mortgagor shall fail to so comply with all
~
~ of the terms. provisions and conditions of the first
~ mortgage so as to result in a default thereunde~ot~ier than
~ with respect to payments of principal and interest due there-
under after Januar 30 , 1978 ) such failure on the _
part of mortgagor s a constitute a default under this mort-
gage and shall entitle mortgagee, at its option, to exercise
~ any and all rights and remedies given mortgagee in the event
~ of a default hereunder.
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4. (a) Mortgagee agrees to pay to the holder of the first
~
~ mortgage, the $ 12 499.69 unpaid principa~~a an~ce
o~
said mortgage, toget er wit a nterest thereon accruing
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~ BOUK 201 PACE 9~
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