HomeMy WebLinkAbout0033 ~ MORTGAGE RIDER
Tttts Mo~tcncE RtDS~t is incorporated into that certain mortgage entered into by ~
AN'itiQNY SIGNORE $nd AR~INE L. SIC~1tE his wife _
and FIRST FEDERAL SAVING3 AND LOAN. ASSOCIATION OF MARTIN COUNTY. ~
Th~following are additional covenants under the above referenced mortgage:
24. If foreclosure proceedinga of any second mortgage or second trust deed or any junior lien of any
kind should be instituted, the Association msy at its option, immediately or thereafter declare tZiis
mortgage and the indebtedness secured heseby due and ~yable. -
25. To the~ estent of the indebtedness of the Mortgagora to the Association deecribed herein or aecurEd
hereby, the Association is hereby subrogated to the lien or liens and to the rights ot the owners
and holders thereof of ~ach and every mortgage, lien or other encumbranoe on the land deecribed
herein which is paid and (or) satis&ed, in whole or in part, out of the proceeds of the loaa described
herein or secured hereby, and the respective liens of said mortgages, liens or other encumbrances ~
shall peas to and be held by the Association herein as security for the indebtedn~s to the Aseo-
ciation herein described or hereby secured, to the same eztent that it would have been preeerved
and would have been paa~d to and been held by the Association had it been duly and regularly
assigned, transferred, aet over and delivered unto the Association by separate deed of assignment,
notwithatanding the fact that the same may be satis6ed and cancelled of record, it being the inten-
tion of the p~arties hereto that the same will be satisfied and cancelled of record by the holdere
thereof at or about the tune of the recording of this mortgage. . .
26. That in the event tliat this mortgage be given to secure a cot~struction loan, failure on the part of
the Mortgagors or their oontractors to complete said buildin~ in ~ accordance with Constxuctaan
Loan Agreement, o~ even date herewith. or to build said construction in accordance with plans _
and apecifications filed w?ith the Association, shall constitute a breach of this mortgage, and, at the
option of the Association, icnmediately mature the entire amount of princigal and interest hereby
secured an3 the Association may immediatEly institute proceedings to forecloae this mortgage.
~ In the event this mortgage is purchased by a third party. these additional oovenants mentioned above
shall become null and void.
IN WITNESS WHEREOF, Borrower has ezecuted this Mortgage Rider this 19th day of
January , 19 79 . - _
~ - ~
i Signerl, sealed and delivered
' i~e p nce~f: _ SI ORE
' 1J Q~,
,d,~ oP 1 G-~~ (Sea1)
ARLINE L. IGNORE
` (Seal)
~ ~ REC6RdEE~a
LUCIE ;~OUNTY.~FL'A.'
a ' .-....j~.~ ;`~~;M~~^v
~ _ _
~ STATE OF FIARIDA l 431'SS~ ~
coux~:oF;,;;:i~Tirr I~9 J~N 22 PM 2: 43 ,
~ ~ ~ument was acknowled ed before me this. 19th da of
~ .`!'~'.~re$bin8~'i~st S Y
Jan." ig. -~~i'~NY SIGNORE and ARLINE L. SIGNORE
~ ~ T'li~'~'~~_ _ C~ERK C RC :
~ u ~ i.iJtlnl
- . . ..Q,~(~Iv rT• JU~-~
~ ' • ~ 7 r - <<... Notary Publi
. NOT~?Y ~f~t11~ STa~f OF ~IOR~D~ ~T tARCE ~
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~ $'rA~4 ~~,~~~~A t _::,,•r,~ss~c3~r.<ro~'E~ N7.~ y,: ` -
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court~t~ ..ti~: ~ r`t i:) / 1;~ F~t `
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~ The foregoing instrument wss acknowledged before me this ~ ' day of
~ , 19 by and
~ , respectively,
~ President and ` $ecretary of
a corporation, on behalf of• the corporation.
Notsry Public •
~
; A-301A 12/76
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