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RIDER TO MORTGAGE
Rider to Mortgage dated December ,1979 between
WILLIAM E. TESCHNER and JANICE H. TESCH ER, his wife, as
Mortgagor and THE CHURCH OF CHRIST OF FORT PIERCE, FLORIDA, a
corporation not for profit, as Mortgagee;
A. This mortgage is subject and subordinate to: that
certain consolidated mortgage dated January 15,1979 and
executed by The Church of Christ of Fort Pierce, Florida, a
corporation not for profit in favor of First National Bank
of Fort Pierce, which mortgage was recorded in O. R. Book
302 at Page 586 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 $29,144.35, with interest
from November 15,1979 (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 November 15, 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.
I~ (3) Any and all expenses, including, but not limited
I,~ to title company charges, recording and filing fees, legal
~I 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
~ 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 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 yortgage, the sum of $29,144.35 unpaid principal
balance of said mortgage, together with interest thereon
accruing thereunder from November 15,1979, as and when
required by the terms of said First Mortgage, i:e., by
paying the constant monthly installments of $317.82 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.
~ (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
contained in the First Mortgage.
i
(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 con-
e ditioned upon the following:
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322 P~~:~ ~ S~ 7