HomeMy WebLinkAbout0092 - RIDER TO MORTGAG~
Rider to Mortgage dated June 29, 1979 between G~ORGE E.
MEDVEDEFF and DIANA MEDVEDEFF,his wife and LOUIS R. MEDVEDEFF
and EVELYN MEDVEDEFF,his wife, Mortgagor and WILLARD L. BOLTON
and JOAVNE W. BOLTON, His wife, as Mortgagee.
A. This mortgage is subject and subordinate to:
that certain consolidated mortgage dated June 12, 1979 and
made between Willard L. Bolton and Joanne W. Bolton, his
wife in favor of Lomas & Nettleton Company, which mortgage was
recorded in O. R. Book 24Q, Page 1834 of the Public Records of
St.Lucie County, Florida, which consolidated mortga~e con-
stitutes a first mortgage lien on the premises described in
this t~ortgage, now in the principal amount of $ 45,859.11 .
with interest from June 29, 1979 (such consolidated mortgage
is hereinafter referred to as the "First Mortgage"):
B. (1) Mortgagor agrees to comply with all of the terms
and conditions of the First Mortgage other than with respect
to the payment of principal and interest under said First Mortgage.
(2) In the event Mortgagor shall fail to so comply with
all of the terms, provisions and conditions of the First Mortgage
so as to result in a default thereunder (other than with respect
to the payments of principal and interest due thereunder after
June 29, 1979) such failure on the part of mortgagor shall
constitute a default under this Mortgage and shall entitle
mortgagee, at his option to exercise any and all rights and
remedies given mortgagee in the event of a default hereunder,
(3) Ar?y and all expenses, including, but not limited
to, title company charges, recording and filing fees, legal fees
' of the attorneys for the ho?der of the First riortgage in
~ preparation of an assignment of either mortgage and any tax, if
~ any, that may be hereafter im~osed by any taxing authority in
; connection with the compliance by mortgagee with the provisions
~ hereof dealing with the payment ~ade or to be made to the holder
~ of }he First ~ortgage shall be paid by the mortgagor or any
; owner of this premises when requested by the title company and/or
s the attorneys representing the holder of the First Mortgage.
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~ C. (1) Mortgagee agrees to pay to the holder of the First
s Mortqage, the $ 45,859.11 unpaid principal balance of said
~ mortgage, together with interest thereon accruing thereunder from
° June 29, 1979, as and when required by the terms of said First
j Mortgage, i.e.,by paying the constantmonthly installments of
~ $36~.28, provided to be paid thereunder on the lst day of each
~ month until the Mortgage shall pay the entire principal of said
~ First Mortgage and all interest thereunder accrued and unpaid.
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~ (2) All such payments provided to be paid by mortgagee,
; pursuant to the provisions of sub-paragraph (1) hereof, shall
~ be n~ade by Mortgagee before the expiration of the applicable
~ grace periods provided for such payments as ccntained in the
First Mortgage.
(3) Notwithstanding the foregoing, mortgagee's
obligations to make the respective payments of principal and
~ interest as and when due under the First Mortgage is conditioned
' upon the following:
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