HomeMy WebLinkAbout0509 1~10RTC~A(~E RII~ER
Tttis MosTC~ce Rtngs is incorporated into that certain mortgage entered into by _Rene L:_Lo ez
a single man
and FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF MARTIN COUNTY. `
The following are additional covenants under the above referenced mortgage:
24, If forEClosure ptoceedings of any second mortgage or second tcust deed or any jvnior lien of any
kind should be instituted~ the Association may at its option, immediately or thereafter declare this
mortgage and the indebtedness secured hereby due and payable.
25. To the extent of the indebtedness of the Mortgagors to the Association described herein or secured
hereby. the Association is hereby subtogated to the lien or liens and to the rights of the owners
and holders thereof of each and every mortgage, lien or other encumbrance on the land described
herein which ia paid and (or) satisfied, in whole or in part, out of the proceeds of the loan described
herein or secured hereby, and the respective liens of said mortgages, liens or other encumbrarices
shall pass to and be hetd by the Association herein as security for the indebtedness to the Asso-
ciation herein described or hereby secured, to the same extent that it would have been preserved
and w~ould have been passed to and been hetd by the Association had it been duly and regularly
assigned, transferred. set over and delivered unto the Association by separate deed of assignment,
notwithstanding the fact that the same may be satisfied and cancelled of record, it being the inten-
tion of the paif,ies hereto that the same will be satisfied and cancelled of record by the holders
thereof at or about the time of the recording of this mottgage.
26. That in the event that this mortgage be given to secure a construction loan, failure on the part of
the Mortgagors or their contractors to compleLe said building in accordance with Construction
Loan Agreement, of even date herewith, or to build said construction in accordance with plans
and specifications filed with the Association, shall constitute a breach of this mortgage, and, at the
option of the Association, immediately mature the entire amount of principal and interest hereby
~ secured and the Association may immediately institute proceedings to foreclose this mortgage.
i
In the event this mortgage is purchased by a third party, these additional covenants mentioned above
sh~Il become nutl and void.
! IN WITNESS WHEREOF, Borrower has executed this Mortgage Rider this 28th day of
A~ri 1 19]~_.
.
i Signed, sealed and delivered (~1)
e presence 'Rene L. Lopez
- - (Seal)
, ~R t3D.aN0
' \ _Ii~ N! ~ i_~ S~.'LUCIE CO~fLA.
ROCER P~F{{}kJ-------- (Seal)
; ( _ _ C~RCUIT COU ~
i . :~~~fD (Sesl)
~ Mar 1 3 26 PN'1$ ~~'~i89
! STATE OF FLORIDA ~ ~ .
i COUNTY OF MARTIN
i Ths.foregqin~ instrument was acknowledged before me this 2$th _ day of
- ; =i
~Lr'~1 , 19 1$_ by__~II~ 1~.J.Q~ei
_ _~~ingle man .
; ' ~ -
. • -
_ - _
G-" y-.
: ~ ' Notary Public
~ r ~ - ~ . . ~aTNrr n~~c sT~h ~ no+~~n~ ..r
STAT$ aF. FLQRIbA MY GOMMISSION EXPIRfi NOV • t9 193t
~ SS. ~ iFSAtt Gfl~l"tRAI It~IS . J.~t.fRWRI iERS
CO~~ ~
The foregoing instrument was acknowledged before me this day of
19 by _ _ and
respectively, .
President and - Secretary of _ _
a corporatioa, on behalf of the corporation.
Notary Public
A-30?A 12/76
eaRx 2~ ~ ~