HomeMy WebLinkAbout0661 ADDENDUM TO MORTGAGE BBTWEEN D. J. TZIMBNATOS AND SOPHIB S. TZIMBNATOS, HIS WIFE,
"MORTGAGORS" AND FIRST AMERICAN BANK OF NORTH PALM BEACH, "MORTGAGEE".
EIGHTEBNTH: Mortgagor acknowledges that this mortgage is not assumable
and that should the mortgagor sell, transfer or convey his interest in the land
secured by this mortgage, that the mortgagee may, at its option, declare all
sums secured by this mortgage and mortgage note to be i:~ediately due and payable.
NINETBENTH: If any class "C" intangible tax and/or any excise tax
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(documentary stamps) or any other tax shall be levied or assessed upon this
mortgage and/or the Note or Notes secured hereby, the Mortgagor agrees to pay
immediately upon demand all such tax or taxes, and the Mortgagor's failure to
promptly pay any such tax shall constitute a default under this mortgage.
TWENTIETH: That in the event the Mortgagor further encumbers the premises
herein mortgaged, or any part thereof, without the express written consent of the
Mortgagee, then the entire principal sum secured hereby shall, at the sole option
of the Mortgagee, become immediately due and payable.
TWENTY-FIRST: Upon ~y foreclosure sale of the premises, the same may be
sold either as a whole or in parcels as Mortgagee may elect, and, if in parcels,
the same may be divided as Mortgagee may elect, and at the election of Mortgagee,
may be offered first in parcels and then as a whole, that offer producing the
highest price for the entire property to prevail, any law, statutory or otherwise,
to the contrary, notwithstanding, the Mortgagor waives the right to require any
such sale to be made in parcels or the right to select such parcels.
TWENTY-SECOND: Attorneys' fees, as used in both this mortgage and the note
it secures, shall be deemed to also include the award of such fees on appeal or
appeals.
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TWENTY-THIRD: The Mortgagor warrants that said property is free and
discharged from all liens, encumbrances and claims of anq kind includi,.g taxes and
assessments, except those that may be set out above or hereinafter; that the Mortgagor
will make at Mortgagor's expense and at no expense to Mortgagee, such other and
further assurances to perfect the fee simple title to said land, fixtures and
.personal property in-the Mortgage as may hereafter be required. ~ F
TWENTY-FOURTH: That if any proceedings should be instituted against the
property covered by this mortgage upon any other lien or claim whether superior or
junior to the lien of this mortgage, the Mortgagee may at its option immediately
upon institution of such suit or during the pendency thereof declare this
mortgage and the indebtedness secured hereby due and payable forthwith and may at
its option proceed to foreclose this mortgage.
TWEETY-SIXTH: Mortgagor will not permit any other lien to be filed against
: the said premises and if any such liens are filed, whether paramount or subordinate
to this mortgage, Mortgagor will have or cause to be had said liens discharged s
immediately. THIS IS A BALLOON MORTGAGE AND FINAL PAYMENT OR r
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Signed, sealed and delivered T~ BALANCE DUE UPON .MATURITY I 60,OOO.OO,TOGETHER
in the presence of: NTH ACCRUED I REST, IF ANY ALL ADVANCEMENTS ;
MADE BY THE GAGEE UNDER TERMS OF THIS MORTGAGE.
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. TZIt~N S
STATE OF FLORIDA
COUNTY OF PALM BEACH
The foregoing instrument was acknowledged before me this -,?O~' day of December,
~,~~78.by,D. J. Tzimenatos and Sophie S. Tzimenatos, his wife.
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G = Notary P lic, State of Florida
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.p.ll ~ ~ : My commission expires:
4 ~ ~ ~ ~ ' 4~ - eoac 300 P~cE X61
' 'c~- ~ ftiotary Pu51ic. State of Florida at latga
,TF A~'Ft~~~ t
~y Commission Expires July 24,1980
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