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HomeMy WebLinkAbout1472 445'~b1 c -3i~ ~ kc ~ ` ~ e- {~d THIS MORTGAGE INDENTURE 55128-2 E =ecuted this (G 11 clay of ~ay , A.D., 1979 , by CHAFIC RAAD, M.D. and MARGARET ANNE RAAD, husband and wife party of the first part Ihernr?aftn called Mestgagorl, to CHASE FEDERAL SAVINGS AND LOAN ASSOCIATION a corporation existrrg under tM laws of the United States of Amerres, party of fire second part Iheranatter called the Asstxrationl, WITNESSETH, That fa divers good and valuable considerations, and to secure rise payment of the sggregaq vein of money named M the promissory note of even date Herewith, lrereinattn mentioned, together vwth interest thereon end ell other sums of money secured hereby at frereinslter provided, the Mortgagor does grant, bargain, sell, alien, remrte, release, convey end confirm uoto tM AssocratiOrl, M lee simple, the Idlowing described real estate, of which the Mortgagor is now sewed and possessrct arirl m actual possession, srtwu m the County of .St . Lucie ,State of Flesrda, legally described asfdlows: Condominium Parcel No. 5535 of Golf Villas, a Condominium as per the Declaration of Condominium thereof, recorded in Official Records Book 302, Pages 1250 through 1326, as amended by Certificate of Amendment, recorded in Official Records Book 306, Pages 2991 through 3006, all of the Public Records of St. Lucie County, Florida. SUBJECT TO above Declaration of Condominium and Amendment to Declaration of Condominium. TOGETHER with ell structures and improvements now and frereattn on said land sntt the fixtures attached theeto, also together wrth all and sirigulu the tenements, heredrtaments, easements, riparian rights and appurtenances thereunto belorgirg, es in any wise appntainirg, and the rents, issues, and profits ttrereot, and also all the estate, right, tick, imnest and all claims and demands whatsoever, ss well in law as in equity, of said Mortgagor in and to the same, and every Part and parcel thereol, and also all gas and electric trxtures, radiatess, heaters, air conditioning egwpment, machinery, boilers, ranges, elevators and motors, bathtubs, sinks, water closets, ware. banns, pipes, faucets, and other plumbing and heating fixtures, mantels, relrignatirrg plans and ice boxes, window screens, screen doors, venetian blinds, storm shutters and awnings, riArich are now or may hereafter pertain to or be used with, in es ors said premises, even though they be detached es detachable, are and shall be deemed to be fixtures and accessions to the treehdd end a part of the realty, and, it the above described property is now or shall hereafter be used for cannerciat purposes, then the furniture and furnishings and any replacements thereof which may be owned by the Mortgagor and which are now or may hereafter he located upon the above described popnty TO HAVE AND TO HOLD the same, together vwth alt the estate, right, title, interest, homestead, down and right of dower, separate estate, posstnsion, claim and demand whatsoever, m law es in equity, of the said Mortgagor in and to the same, and every part thereof, unto the sad Association in fee simple. The Mortgagor hneby covenants with the Association that the Mortgagor is indefeasibly seized with the absdute and fee simple tick to said property. and has full gown, and lawful authority to sell, cornet', transfer and mortgage the same: that it shell be lawful at any time herealtn for the Association to peaceably and quietly enter upon, have, hoW and copy card property, and every part thereof; that said property is free and discharged from all Irene, encumbrances, and cWims of any kind, including taxes and assessments, except the lien heretl, which n a first lien ixr said property; that the Mortgagor wilt make such further aswrarrces to prefect the fee simple title to said property .n the Association as may reasonably be requred; and that the Mortgagor does hereby fully warrant unto the Association the title to said propnty and will defend same against the mortgage claims and demands of all persons whomwever. NOW, THEREFORE, the condition o1 this mortgage is such that if the Mortgagor shall wNl and «ulY pay unto the Associatron, the indebtedness evidenced by that certain promissory note, of even date Irnewith, made by the Mortgagor and payable to the Association, in the Principal vein ~i -------------FORTY'~HREE THOUSAND, NINE HUNDRED--------- DOLLARS .s 43 , 900.00 1, together with in[nest as thnein stated, payable Dore a trim of 336 months. and shall perform, comply wrth and abide by each ancf every the stipulations, agreements, conditions and covenants contained and set forth in this mortgage and m the promissory note secured hereby, then this mortgage and the estate hereby created shall cease and be null and ord. AND the Mortgagor does hereby covenant and agree: 1. To pay all and singular the principal and interest end other wms of money payable by virtw of card pmmrssory rate and this mortgage. or either. wesnPtM on the days respectively the same sensraNy become due. 2. To pay aN end singular life taxes. assessments. other govemntental levies. liabiktres. oblrgataru and encumbrances of every nature on said described property and the related debt acquisition each end ta?ery when dw end payable affording to law. before they become delrrsquent and. if the same shat) not be promptly pad. the Association may at any time. either before or alias dekrtquertcy. pay the same wtthtwt waiving es aHs:.tirp the option to foreclose. or any right ~ ~ herwnder. and every payment m made shall bear interest from the date tMreof at the rate of ten per cent (10961 per annum. Z7 o m 3 That the Mortgagor wrA keep all real end personal propMty now a hereafter encumbered by the ken of tMs mortgage irtwrsd as may bs requued from nine to wine by the Association against loss by fire. vnndstorm and other hazards. awakies and Contrngerscrss for wch periods and for not bss then wch amounts as s CO may lee requued by the Association and to pay promptly when dw all premiums for such insunrtce. Mestgsgor agrees to dekver renewal es replacement a Q ~ ~ pdicies of any nature es replacement tYrtifiutes of inwrsnte to the Atlsocratron. at least ten 1101 days prior to the axgratrort es anrrvsrsary date d the axisbng a z y M pdreres The amounts of insurance required by the Association shall bs minimum amounts for which said inwrartce shah be written and a shall be irsct?mbent ~ M upon the Mortgages to maintain such additional insuwttp as may bs necessary to meet and corrrPN fully with all co-inwrancs requirements contained m card r ~ qp rp pdicies to the end that said Mortgagor snot a co-insuror therwtsdsr. lnsurantx shall bs wrinen by s company es compMUas approved or dssigrtated by the 3 ~ ~ 't7 Assoxiation arnl all pdicies and renewals thereof sMll be held by the Association. AN detailed designations by the Mortgagor which are accepted by the ` ~ 0 Association and all agreements between Mortgagor and Associatitxt relating to insursrtce. now axistrrtg es hereafter made. shah bs in vvritirp and shah be a part ~ ~ - of this mortgage agreement as hilly as though set forth verbatim herein and shall govern both parties hereto and choir successors and assigns. No ken upon any ~ t70 V" of said pdicies of irssurance or upon any refund es return premium which may bs payable on the carttxllatan or termination thereof. shah be given to other than ~ v ~ the Assoaation, except by proper endorsement affixed to such policy and approved by the Assowtan. Each pdrey of rnwrance shah haw affixed thereto a ro Standard New York Mortgages Clause without Contribution. makirp all loss or losses under such pdigr payable to the Association as its interest may appear. ! = ~ 3 In the event any sum es wms of money btswms payable therwrder. the Association shall have the option to receive and apply the same on account of the in- _ <i ~ tl1 debtedrtess hereby secured. es to permit the Mortgagor to rst:eive and use d. or any part thereof. without thereby waiving or impairing any equity lien or right under and by virtue of this mortgage- In event of bas es physical damage to the mortgaged property. the Mortgagor shah give irmtedste notice thereof by mad 'J to the Association and the Association may make giro( of bas if the same is not made promptly by the Mortgagor. In event of foracbsurs of this mortgage. or other transfer of tick to the mortgaged property. in extinguishment of the indebtedness secured hereby. all right. title and interest of the Mortgagor in and to i ~ ~ n- any rnwrance pdiwes then in force shah pass to the purchaser or grantee. The Mortgagor further agrees to abde by the rubs and exisang reguletions of the Association. rn connection with required irtstrranca coverage of the property herein encumbered. pp - r - - . _ - - ~ RECF1YEa : d'• ~ IN PAYIitFKT OF TAXfS t ~ ~ ~ ~ ~ - DUE ON CLASS 'C' INTAtIv'5Lf PFfi":7%dl P:.L'ti:TY PURSUANT TO CHAPTER T1-1..4, ACiS OF 197 -:F ~ .7i-'.~+• r-'~ • L c ~ .t ~ R06FQ P:;ITRAS - .r ~ ,:wT~~•j, 1-.~ ~ 6 J ~ Ci.E~ QRCUI~ GOi1l~e st. ~ ~ I"~" 4 Paragraph 4 and those which (dbw aro contained on tM reverse srtie of this mortgage and by reference are incorporated into tM body of this mortgage. The terms Mortgagor end Association, vvfserrever used in this instrument, shall include the heirs, personal representatives, successors es assigns of the respective parties hereto. Whereon used, the singular numbn shall include the plural and the plural the singular, and the use of any gender shall rrrclude all genders. IN WITNESS WHEREOF, these pre Rave been executed an the day and year first written. Sgried, sea in the sense of- ,/n J~ ~ ISEALI CHAF C RAAD, M. D. ~C- r~.~ ISEALI ~ l .~4i _C~_~i~'tL . /61i~t ~ MARG4iRh'r ANNE RAAD s ISEALI 9 . • .1 ISEALI v ~ • ~ c = STATE OF RHODE ISLAND COUNTY OF ~ ~~L ~ ~ 1St 0 ~ .~~Q j~ ~~Y~~'~•'h l ~ ' The foregoing instrument was acknowledged before me Mis-J `~.L~tfay of ~y , 19J~ by ~ LC _ r 1 . • J 7 • ti. CHAFIC RAAD, MD. and MARGARET ANNE RAAD, husband and wife ~ ~ _ - t , My commission'expires v ~ ~'J ~A~ ~ ~C~4~ Notary Public, State of ~ ^i~ - ,