HomeMy WebLinkAbout2628 RIDER TO MORTGAGB dated February 21, 1979, between REGINALD J. PARADIS
and DOROTHY M. PARADIS, his wife, as Mortgagor, and RICHARD VREBLAND and
CAROL VREELAND, his wife, as Mortgagees.
A. This mortgage is subject and subordinate to: That certain Agreement
for Deed given by Major Excavating Company, Inc. to Edward Kowall and
Dolores Kowall, his wife, dated November 3, 1971, in 0. R. Book 197,
page 271, public records of St. Lucie County, Florida. The interest
- of the Kowalls has been assigned by mesne assignment to Richard -
Vreelaad and Carol Vreeland, his wife, by assignment filed March 3,
1978, in 0. R. Book 282, page 2508, public records of St. Lucie
County, Florida, AND that certain Chattel Mortgage to Advance Mortgage
Corporation dated May 10, 1976.
B. (1) Mortgagor agrees to comply with all of the terms and conditions
of the items in Paragraph A above ather than with respect to the payment
of principal and interest under .said items in Paragraph A above.
(2) In the event mortgagor shall fail to so comply with all of the
terms, provisions and conditions of the items in Paragraph A above
so as to result in a default thereunder (other than with respect to
- payments of principal and interest due thereunder after February 21,
_ 1979)-such failure on the part of mortgagor shall constitute a default
under this mortgage and shall entitle mortgagee, at their option, to -
exercise any and~all rights and remedies given mortgagee in the event
of a default hereunder.
(3) Any and all expenses, including, but not limited to, title
company charges, recording and filing fees, legal fees of the attorneys
for the holder of the items in Paragraph A above in preparation of an
assignment of either mortgage and any tax, if any, that may be here-
after imposed by any taxing authority in connection with the compliance
by mortgagee-with the provisions hereof dealing with the payment made
or to be made to the holder of the items in Paragraph A above shall
be paid by the ~oortgagor or any owner of the premises when requested
by the title company and/or the attorneys representing. the holder
of the items in Paragraph A, above.
C. (1) Mortgagee agrees to pay to the holders of the items in Paragraph A
above,- the $3,224.45 unpaid principal balance of said -agreement, together
with interest thereon accruing thereunder-from February 21, 1979, and
$8,448.28-unpaid principal balance of said chattel mortgage, together
with interest thereon accruing thereunder from February 21, 1979, until
- mortgagee shall pay the entire principal balance of said items in
Paragraph A and all interest thereunder accrued and unpaid. -
(2) All such payments provided to be paid by mortgagee, pursuant to
f the provisions of sub-paragraph (1) hereof, shall be made by mortgagee
before the expiration of~he applicable grace periods provided foi such
payments as contained in thz items in Paragraph A.
(3) Notwithstanding the foregoing, mortgagee's obligation to make the
respective payments of principal and interest as and when due under the
items in Paragraph A is conditioned upon the following: -
(a) Mortgagor shall not be in default under this mortgage;
(b) Mortgagor shall comply with all of the terms and provisions
of the items in Paragraph A other-than with respect to the payments
of principal and interest due thereunder after February 21, 1979.
~ D. Mortgagor covenants and agrees not to exercise any right or privilege
of prepayment of the items i.n-Paragraph A and further covenants and _
agrees not to enter into any agreements with the holder of the items
in Paragraph A modifying or amending any of the provisions dealing
with payment of principal or interest thereunder without the prior
written consent of mortgagee. thereto.
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