HomeMy WebLinkAbout2437 - RIDER TO MORTGAGE
Rider to Mortgage dated October_~_,1979 between JAY W. t
WESTON, as Mortgagor and UNITED PARTNERS III,INC., a Florida
Corporation, as Mortgagee; ~
A. This mortgage is subject and subordinate to: that '
certain consolidated mortgage dated June 15,1970 and executed
by William J. Chevalier and Barbara Ann Chevalier, his wife in
favor of Citizens Federal Savings and Loan Association of St. `
Lucie County, which mortgage was recorded in O.R.Book 185,
Page 711 of the Public Records of St.Lucie County, Florida, which
consolidated mortgage constitutes a first mortgage lien on
the premises described in this mortgage, now in the principal _
amount of $8,546.33, with interest from September 10, 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 September 10, 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) 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 of an assignment of either mortgage and tax,
if any, that may be thereafter imposed by any taxing authority ;
j in connection with the compliance by Mortgagee with the ~
g provisions hereof dealing with the payment made or to be ~
made to the holder of the First 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.
C. (1) Mortgagee agrees to pay to the holder of the
First Mortgage, the sum of $8,546.33 unpaid principal {
balance of said mortgage, together with interest thereon
accruing thereunder from September 10, 1979, as and when
required by the terms of said First Mortgage, i.e., by
~ paying the constant monthly installments of $284.52 provided #
to be paid thereunder on the tenth (10th) 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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(2) All such payments provided to be paid by ~
Mortgagee, pursuant to the provisions of sub-paragraph (1) - '
hereof, shall be made by Mortgagee before the expiration of
~ the applicable grace periods provided for such payments as
4 contained in the First Mortgage.
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(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 conditicned ;
upon the following: i
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