HomeMy WebLinkAbout0857 thereof, to be executed by M~rtgagor. Provided. further. a de-
fault under the mortgage to be held by said tinancial institution
shall automatically be a default under this mortgage and agreement.
The Mortgagor and said financial instituLion by the terms of said
mortgage shall be obligated to give the Mortgagee written notice
of any default thereunder and an opportunity to cure such default
for a perio d of 20 days following the receipt of such notice.
Mortgagor covenants and~ agrees that the proceeds of the loan from
said financial institution shall be.used solely to pay the develop- .
ment and building costs, and carrying costs with respect to the
mortgaged property. Said mortgaged property, more particularly
described as follows:
The west 318 feet of the south 189 feet of Lot 2, Block 3
of MODEL LAND COMPANY SUBDIVISION, according to the Plat
thereof as recordsd in Plat Book 1, Page 41 of the Public
Records of St. Lucie County, Florida.
5. Except as herein modified, all terms, conditions and
covenants of the mortgage deed respectively dated February 23,
1978, recorded in 0. R. Book 282 at Page 1234, and dated February
23, 1978, and recorded in 0. R. Book 282 at Page 1237, both of
the Public Records of St. Lucie County, Florida, and the promissory
notes respectively secured thereby, shall remain in full force and
I effect.
~ 6. This Agreement shall inure and be binding upon the heirs,
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~ personal representatives, successors and assigns of the respective
i parties. ~
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~ IN WITNESS WHEREOF, the Mortgagee has caused this Agreement
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; to be executed in its nane and its corporate seal to be affixed
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~ by its president duly authorized, and the Mortgagor has caused
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` this Agreement to be executed in its name, and the Guarahtor has
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~ caused this Agreement to be executed in its name, the day and
year first a~ove mentioned.
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