HomeMy WebLinkAbout1802 S
RIDER TO MORTGAGE dated September 24, 1979, between RICHARD M.
MESSNER and MARY E.- MBSS2iER, his wife, as Mortgagor, and HOt7ARD tJ.
HICKMAN and DORIS J. HICKMAN, his wife, as Mortgagee.
1. This mortgage is sub3ect and subordinate to: The certain
mortgage, dated April 22, 1969, made between HOj1ARD W. HICKMAN
and DORIS J. HICKMAN, his wife, as Mortgagor, and CITI?.ENS
FEDERAL SAVINGS AND LOAN ASSOCIATION OF ST. LUCIE COUNTY, as
Mortgagee; which mortgage was recorded in the office of the
Clerk of the_County of St. Lucie, on April 25, 1969, in O.R.
Book 177, Page 31, of the Public Records of St. Lurie County,
and which mortgage constitutes a first mortgage lien upon the j
premises, now in the reduced principal amount of $17,276.73,
with interest from September 24, 1979. -(Such first mortgage is
hereinafter referred to-as the "First Mortgage.").
2. With respect to the principal indebtedness of tortgagor to
tortgagee in the sum of $51,500.00 evidenced by the note of even
date herewith, made by Mortgagor to Mortgagee and secured by
this mortgage, 2ortgagee has conveyed to Mortgagor-on the
execution hereof real ptoperty valued at 572,500.00, and Mortgagor
and Mortgagee hereby agree that the balance of said principal
indebtedness (the "Balance") totaling $17,276.73-as of the 24t~r
day of September, 1979, has been validly incurred by Mortgagee
- hereby agreeing to retain such Balance and, as provided in
Para raph 3 hereof, to pay to the holder of the First Mortgage
the 17,276.73 unpaid. principal balance as of said date of said
- First Mortgage together with accrued interest.
3. (a) Mortgagor agrees to comply with all of the terms and con-
, ditions of the Fizst Mortgage-other than with respect to the
payment of principal and interest due under said First Mortgage.
(b) 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
payments of principal and interest due thereunder after September
- 24, 1979) such failure on the part of Mortgagor shall constitute a
- default under this mortgage and-shall entitle Mortgagee, at its
option, to exercise any and all-rights and remedies given
~ Mortgagee in the event of a default hereunder.
(c) 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 First Mortgage in preparation
r ~of an assignment of either mortgage and any tax, if any, that
may be hereafter imposed by any taxing authority in connection
with the compliance by Mortgagee with the provisions hereof
dealing with the payments made or to be made to the holders of
the First Mortgage shall be paid by the Mortgagor or any owner _
- of the premises when requested by the title company and/or
--the attorneys representing the holder of the First Mortgage.
_ ~
4. (a) Mortp..agee agrees tb satisfy the First ?4ortgage with CITI~EilS
FEDEP.AI,, SAVIiJG3 AND LOAM ASSOCIATION OF ST. LUCIE COUtiTY , (recorded
in O. .R. Book 177, Page 31, Public Records of St. Lucie County,
Florida) or. or before the date that the last payment is made on
_ this mortgage. tiortga~;ee will obtain from the holder of the First
Mortgage a duly executed Satisfaction of the First t~iortgage in
recordable form. ~
(b) All such payments provided to be paid by Mortgagee, pursuant
to the provisions of Subpar-agraph (a) hereof, shall be made by
Mortgagee before the expiration of the applicable grace periods
~ provided for such payments as contained in the First Mortgage.
I
F
i
BO(XJ~7 P~F~~