HomeMy WebLinkAbout1829 RIDER TO MORTGAGE
Rider to Mortgage dated October 15, 1979 between GEORGE
BILLINGHURST and VALERIE BILLINGHURST, HIS WIFE, as Mortgagor
and JORAM O. PETERSEN, as Mortgagee;
A. This mortgage is subject and subordinate to:
1. That certain consolidated mortgage dated September
29, 1976 and executed by Joram O. Petersen in favor of
Sun Bank of St.Lucie County which mortgage was recorded in
O. R. Book 258, Page 583 of the Public Records of St. Lucie
County, Florida which consolidated mortgage constitutes
a first mortgage lien on the premises described in this
mortgage and now in the principal amount of $12,821.36
with interest from September 15, 1979 (such consolidated
mortgage is hereinafter referred to as the "First Mortgage");
2. That certain consolidated mortgage with its Note
dated September 29, 1976 from Joram A. Petersen in favor of
Fred F. Adams and John P. Hoke which Mortgage is presently
unrecorded in the Public Records of St. Lucie County, Florida
which consolidated mortgage constitutes an unrecorded
encumbrance on the premises described in this mortgage is now
in the-principal amount of $932.02 with interest from October
1, 1979 (such consolidated mortgage is hereinafter referred
- to as the "Second Mortgage).
B. (1) Mortgagor agrees to comply with all of the terms
and conditions of the First Mortgage and Second Mortgage other
than with respect to the payment of the principal and interest
under said First Mortgage and Second Mortgage.
(2) In the event Mortgagor shall fail to comply with all
of the terms, provisions and conditions of the First Mortgage
and Second Mortgage so as to result in a default thereunder
(other than with respect to the payments of principal and
interest due thereunder after September 15,1979 as to the
I~' 'First Mortgage and October 1, 1979 as to the Second Mortgage)
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) 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 and
Second Mortgage in preparation 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 payment
made or to be made to the holder of the First Mortgage and -
Second Mortgage shall be paid by the Mortgagor or any owner
of these premises when requested by the title company and/or
the attorneys representing the holder of the First Mortgage
and Second Mortgage.
C. (1) Mortgagee agrees to pay to the holder of the
~ First Mortgage the sum of $12,821.36 unpaid principal balance
of said mortgage together with interest thereon accruing
thereunder from September 15, 1979, as and when required upon
the terms of said First Mortgage,i.e. by paying the constant
monthly payments of $175.00 provided to be paid thereunder on
the 15th day of each month until the Mortgagee shall pay the
entire principal of said First Mortgage and all interest
thereunder accrued and unpaid.
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