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MORTGAGE RIDER :
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Tttis Morcrc~cs RwsR is incorporated into that certain mortgage entered into by
EDMIARD CURLIS and JUNB 8. CURLIS his wife -
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and FIRST FEDERAL 3AVINGS AND LOAN _ AS30CIATION OF MARTIN COUNTY.
The following are additional covenants under the above referenced mortgage:
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24. If forecloaure proceedings of any second mortgage or second truat deed or any junior lien of any ~
_ kind should be instituted, the As~ociation may at its option, immediately or thereafter declare this
mortgage and the indebtedness aecured hereby due and payable.
25. To the extent of -the indebtednesa of the Mortgagors to the Association described herein or secured ~
hereby, the Association is fiereby subrogated to the lien or liens and to the rights of the ~owners
and holders thereof of each aud every mortgage.lien or other encumbrance on the land deecribed
herein which is p~aid and (or) satisSed, in whole or in part, out of the prooeeds of the loan described . . ~
herein or secured hereby, and the reapective 1 iens of said mortgages. liens or other encumbrances
shall p~ss to and be held by the Aesociation herein as security tor the indebtedness to the Aseo- ;
ciation herein described or her~by secured, to the same eztent that it would have been preeerved
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and would have been passed to and been held by the Association had it been duly and regularly ,
assigned, transferred, set over and delivered unto the- Association b~? separate deed of assignment, ~
notwithstanding the fact that the same may be satisfied and cancelled of record~ it being the inten-
tion of the partiea 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 mortgage. -
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 complete said building in socordanre with Constructian
Loan Agreement~ of even date herewith; or to build said construction in aocordance with plans
and apecifications filed with the Association, shall constitute a bre~h of this mortgage, and, at the
option of the Association, immediately mature the entire amount of principal and interest hereby
secured and the Aasociation maq immediately institute proceedinga to foreclose this mortgage.
In the event this mortgage is purchased by a third party, these additional oovenants mentioned above
ahall beoome null and void.
IN WITNESS WHEREOF, Borrower has esecuted thia Mortgage Rider this ~ 9th day of
January ~ lg 79 _
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Signed, sealed and delivered ~
' the resence ~ f • ARD CURI. ~ . ~ ,
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~ 3TATE O FLORIDA > ~
~ `~~IN s79 ,Jf;`a 22 PtA Z : 2 ; .
~ C~:,U ~ . 19th day of
;~~.~~g•~trument was acknowtedged before me this • _
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~~a~ ~ ig 79 hy EDiVARD CURLIS and JUNE E. Ct~+L~S. }ri5 „
- - CLERK C~r'::;t' ~ . i:t~ . ~
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:.,,,.r~.~.; Nofary Pqblic
~ ~~~~~i .b;t:''`:'.: ~ . . NOTARY Vll{1tC STATE OF ~LORIOA AT U1~if ~
; SZ'A~~'~"`F~R~A MV COMMISSION EXPIRfS NW. !9 19a1 ~
. CO~,j,Y OF, ~ ~pPOF~ tMRU Gft~kRl~l MrS. t~Of~WRITELS
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~ The foregoing instnunent was acknowledged before me this day of ~
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~ , 19 by and
, respectively,
President and Secretary of
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~ a corporation, on behalt of the corporation. ~
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~ . _ ' Notary Public ~ J
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~ A•301A 12/76 +
s°ooK ~2 ~ac~ $
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