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HomeMy WebLinkAbout0290 /1 ~ C-481A kc 59125 -2 THIS MORTGAGE INDENTURE r~b1'7'78 Executed this 4 day or October . A.o., ,979 , by .G- CHAMBERS CORPORATION ~`'V~t party of flit first part If+ewircalter called Mortgagal, to CHASE FEDERAL SAVINGS AND LOAN ASSOCIATION } a corporation existing urxftr the laws of the Unwed States of America, party of the second part (hereinaltn called the Associationl, WITNESSETH, That for divers good and valuable conside+auons, and to secure the paymem of the aggregate sum of money nansetl m the prumrssory puce of rven date herewith, htreirsalter menbor+ed, together with interest thereon and all othp sums of money secured hereby as htianafter provited, the Mortgagor does grant, tlaryJin, sell, a1+en, rertcise, release, convey and confirm unto the Association, in fee simple, the lollowrng dlscribetl real estate, 01 irrrtiith the Mw tgagor rs niNN seritd and ptisseaie+f end in actual possession, situate in the County of iSt . Lucie State of FlorNfa, legally cfestrrtrld a:follovys: Lot 28, Block 3, HIDDEN RIVER ESTATES, according to the Plat thereof as +ecorded in Plat Book 18, Pages 14, 14A and 14B, Puk~lic Records of St . Lucie County, Florida. SUBJECT TO restrictions, easements and reservations of record. TOGETHER with all suuctures and rmprovemMts now and hereafter on card laruf and the hxcures anachecf thereto, also togtthe. wdh au arxf s+ngulJr the crnernrnts, herednart+ents, easements, nparran rights ani1 appurtenances thereunto bNonging, or rn any wise Jpperwmir+y, and the reins, rssoes, and p+olrts thereof, and also an chi estate, r rght, titre, interest arxf alt claims and demands whatsoever, as well m law ss m tyuity, of card Mortgagor m and to the same, and every part and pJrcel thereof. Jnd alsr+ ail gas and electric futures, radraton, heaters, au condwomrg eywpment, machiriery, boilns, rar+ges, elevators and motors, tsathtutn, amts, ware. closets, water basins, prpts, lJUCets, and other plumbing and heaanq fixtures, mantels, relrigeratir+q plans and ice tN,xes, wrrxfow screens, screen doors, venetian blinds, storm Shuntrs anif awnings. whicA ++r now or may hereafter pertain to or l,e used with, in or on card pemrses, even though they be detached or detachable, ere and shall be deemed h, lie fixtures Jnd Jccessrons ro the freehold and a part of the realty, and, rt the above descntx?d prc.•perty is now or shalt hereafter l,e used for ctxnrnercal purposes, then the lumrmre arNt fwnrshu+y: Jnd any replacements tt+ere01 whN;h rridy be owned by the Mortgagor and which are now or may hereafter I,e located upon the atiove tlestriberf property. TO HAVE AND TO HOLD the sJme, uNleMer w+th act the estJte, nyht, title, interest, homestead, cfowtr and right o) dower, separate estate,ptnsesswn,eLun.arNl demand Wf+Jtsoever, in law or rn agony, of the sJUf hlortgayor rn anil to the same. Jnd every part thereof, unto the said Assocrehon m fee simple. The h!ortgagor haehy covenants with the Association that the Mortgagor rs inilefeesrbly seric<1 with the atnotu to and te! simple title to sent property. Jnd has lull Wwer. and tawlul authority to sell, convey, Iransler anif mortyJge the sJme. that it shall tsr IJwlul at any lime hereafter for the Association to peaceably and ywetly enter upon, n,ive, hold end enfoy said property, aril every part the.tof, that s;fid prOptrty is free Jnif drschmged nom all Inns, encumbrances, ancf claims of Jny kind, including es and Jssessments, except the IiM hereof, which is a fast Iran on said property, that the h!ortgJyur will maMe such further asswerxes to perfect the tee simple trite to card property .n the AssoCrauon as may reasonJl,ly be requued, and that the Mortgagor does hereby lolly wan Jm unto the Assoc ialiun the title to said property ancf wdl defend s:+rne -l,nnst the rt+ortgage claims and demands of all persons whomsoever. NOW. THEREFORE, the corNiruon of this mortgage is such that d the Mortgagor shalt well and truly pay unto the Association, the ir+tfebtertnrss es,denced by that certain promissory note, of tven date herewnh, mode by the Mortgagor and payable to the Assoewuon, in the p+rr+crpJt win ~,t -------ONE HUNDRED FIFTEEN THOUSAND, EIGHT HUNDRED----------- DOLLARS +5 115 , 800 • ~0 1, together with interest as thaem stated, payawe ova. a term of 348 months, and sh Jll perform, comply Horn and abrefe by each and every the stipulations, agreements, conditions ancf covenants concerned Jnd set lurch in this mortyJgr Jnd in the promissory note srcureif hereby. then this mortgage and the estate hereby created shall cease and be null ani1 void. TRANSFER OF THE PROPERTY; ASSUMPTION If all or any part of the Property or an interest therein is sold or transferred by Mortgagor without Association z prior written consent, excluding laf the <~reation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a purchase money security interest for household appliances, Icl a transfer i ~y devise, descent or by operation of law upon the death of a joint tenant or Id) the grant of any leasehold interest of three years or less not contaircing an ,>ption to purchase, Association may, at Association's option, declare all the sums secured by this Mortgage to be immediately duv and payable, Association mall have waived such option to accelerate if, prior to ttie sale or transfer, Association and the person to whom the Property is to be sold or transferred reach Jgreement in writing that the credit of such person is satisfactory to Association and that the interest payable on the sums secured by this Mortgage shalt be ..it such rate as Assoaation shaft request. If Association has waived the option to accelerate provided in this paragraph and N Mortgagor's successor in interest vas executed a written assumption agreement accepted in writing by Association, Association shall release Mortgagor from act obligations under this Mortgage and the Note. I1 Association exercises such option to accelerate, Association that) mail Mortgagor notice of acceleration. Such notice shall provide a period of not less than aJ days from the date the notice is mailed within which Mortgagor may pay the sums declared due. If Mortgagor tails to pay such sums prior to the expva .-.,n of such period, Association may, without further notice or demand on Mortgagor, invoke any remedies permitted by paragraph 15 hereof. ANO the Mortgagor does hereby covsnart and agree 1 To pay all and singular the pnnapal and interest and other sums of money payable by virtue o! said promissory note and [firs mortgage. or either. promptly on the days respectively the same severally become dos 2 To pay all and singular the tastes, assessments. other governmental levies. liabilities. obligations and encumbrances of every nature on card described property and the related debt acquisition each and every when due and payable according to law. before they become delinquent and. i} the same shall not be promptly - '~T paid the Association may at any hors. either befas or after delinquency. pay the same without warvrng or alfechrig the option to foreclose. o+ any right ~ hereunder. and every payment so made shall bear interest from the date ihereot at the rate of 15p per annum. ~ ~ 3 That [t+e Mortgagor will keep all real and personal property now w hereafter encumbered by she Iran of this mortgage insured as may he required from trine to { C ~ time by the Association against loss by fire. windstorm and other hazards. casualties and contingences for such periods and for not less than such amounts as i ~ ~ ~ may be requred by the Assoaation and to pay promptly when due all premwms for such insurance Mortgagor agrees to delver renewal or replacement j ~ ~ polices of any nature or replacement certificates of +ns;,rance to the Associsnon. at least ten (1 O) days prior to the expiratwn or anniversary date of the exist,ng I _ r~r, polices The amounts of insurance regwred by the Assoaaton shall be minimum amounts fo: which Said +nswance Shan be written and rt shall be incumbent ~ upa~ the Mortgagor to ma+ntain such additional insurance as may be necessity t0 meet and comply fully with ail co-insurance regmrements contained m said - .0 po!ices to the end that card Mortgagor is not a co-inwror thereunder Insurance shall be written by a company or companies approved or designated by the Association and all polices and renewals thereof shalt be field by the Assoaation An detailed designations by ttce Mortgagor which are accepted by the ~ Association and at! agreements between Mortgagor and Association relatirig to insurance. now existing or hereafter made. shall be m voting and shall be a part } ~ of this mortgage agreement as fully as though set forth verbatim herein and shall govern both parties hereto and their successors and assigns No lien upon any 8 ` of said polices of insurance or upon any refund or return premium which may be payable on the cancettauon or termination thereof. shall be given to other than J the Assoc+ation. e¦cept by proper endorsement sHitted to such policy and approved by the Association Each policy of insurance shall have aNixed thereto a Standard New York Mortgagee Clause without Contribution. mating all loss a bsses under such pobcy payable to the Association as as interest may appear ~ In the event any sum or sums of money become payable thereunder. the Association shall have the option to receive and apply the sSme on account of the in- debtedness hereby secured. Ot to permit tfie Mortgagor to receive and use it. tx any part thereof. without thereby wa:virig or impairing any taqudy, {Len or right under and by virtue of this mortgage In event of loss or physical damage to the mortgaged property. the Mortgagor shall give immediate rotipertldWOt by malt to the Association and the Assoaation may make proof o' bas d the same is not made promptly by the Mortgagor In event of (oreGWi7rs of t11i3 mgtgage. or other transfer of title to the mortgaged property. m extinguishment of the indebtedness secured hereby. all right. title and interest of the fNowgagor m art8 to any insurance polices then in force shall pass to tlts purchaser w grantee Tfse Mortgagor further agrees to abide by the rules and eitisung regtrlatiof?s of the Association, m connection wdh rsgwrad insurance coverage of the property herein encumbered ~ 4 Paragraph 4 and those whic!i follow are conbitced t1n tfte nwrse aide of this mortgage and by reference are incorporated into the btldy of this mortgatr. t: The terms Mortgagor and Association, whenever used m this instrument, shall include the heirs, persona! representatives, wccessors or assigns oT.tfit respie6tiv! parts ~ hereto. W11lrttvN used, the singular fnber shall include the plural and ttie plural the singular, and the use of any gender shall irxlud! all genders. IN WITNESS WHEREOF, th prtmi h;v! been executed on the day and year first above written. Sigi+ed, sea and di'serer in t pr ~-J CHAMBER CORPORATIO IsEA~I ' cam, / . ~ p ; CHESTER C. CHAMBERS, SR, as President w - By ~ ISEA~1 NANCY L. C S, a Secretary - ,t ~t~~ ti . ISEAL) ~ , a~,` ~1~~' V STATE OF FLORIDA- COUNTY OF MARTIN The faeliotrq instrument ores acknowledged before m. Mis day of OC tOber _ , ,g? 9 by st CHESTER C. CHAMBERS, SR, as President and NANCY L• CHAMBERS, asp Secretary of CHAMBERS CORPORATION ~ i LENOER Mt? commission err res ~Ax1f /l11t.tC STATE Cf itCR10A AT ~ M1f COMAhISSfaN E><t1~fS At1G . ~ 19N ~ TF~1 ~ IA'~flZ1NEITE~ Notary Public, State of