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I MORTGAGE DEED /
I, RAMCO FORM RE6
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/:xecuted the 20th day of December A. I). 1979 6y
JACK L. WEBB
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~ ~ hereinaJler t•alletl the mortrya~lar, to `r~..•:~ed a Iff PfwRletlt aTtttN
Dt:e On Class •'C" intar>rpl~le Penptl~l h~0*Mgl,
ROBERT A. VAN NATTA Pu,suant To Chapter 71. 1$4. AgfaOf 1*71.
ROGER PORIIAe
i hereinafter t•a11ed the mortgage'': Clerk Circuit Cotxte Rf. LMOIf; 00.
i~\'htr~~~r u.ed herein the teen. "mu~ICa[~•?•• anal "n~urtraKee•~ include all the putin to thu instrumewt awd tht 6tirs,
kcal reyre.entat~.ea and a.uen. ul indi~idwk: aad tht wrce...rs and a+veea of cwporatiom; aad the term "wore"
~ i~x ludo. all the m•te+ herein dexnFtd i( rrNUe than une. 1
~d~tnesseth, that for good and ealuahle t-onsiderations. and also in consideration of the agflre-
gate sum named in the promissory Hole of even date l+ereu~iflt. Iterninaffer described, the mortgagor here-
by gnu+ts. bttntains, soils, aliens, remises, t-on+a•ys anti confirms unto the rnortgagee all the certain land
of u~hit•h the mortgagor is nou• seized anti in possession situate in St. Lucie County.
1-lorula. Lot 13, Block 167, LAKEWOOD`PARK UNIT 12-A, according to the plat
~~thereof, as~recorded in Plat Book 11, pages 35 through 37, of the Public Records
of St. Lucie County, Florida. I
THIS IS A WRAP-AROUND MORTGAGE. '
At the time of the execution of this mortgage there is outstanding a mortgage
in favor of Mc Gaughan Mortgage Company, Inc., recorded in O.R. Book 209, page 791
.on November 21, 1972, and rerecorded in O.R. Book 210, page 91, on January 16, 1973
of the Public Records of St. Lucie County, Florida.
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A. The Mortgagor agrees to comply with all of the terms and conditions of the.
:prior mortgage other than with respect to the payment of principal and interest due.
.under such mortgage.
B. If the Mortgagor shall fail to so comply with all of the terms, provisions
and conditions of the prior mortgage so as to result in a default under it (other
than with respect to the payment of principal and interest due), that failure on
-the part of the mortgagor shall constitute a default under this mortgage, and shall
entitle the mortgagee, at its option, to exercise any and all rights and remedies '
given the mortgagee in_the event of a default under this mortgage. `
C. The mortgagee agrees to pay to the holder of the prior mortgage the un-
paid principal balance of such mortgage, together with all interest accruing under
- ~ ~ it, as and when re uired b the terms of such wort a e.
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! D. All those payments provided to be paid by the mortgagee pursuant to the
~r• _ provisions of (C) above shall be made by the mortgagee before the expiration of the
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applicable grace period provided for those payments as contained in the prior mort-
, (gage.
.'r i E. The mortgagee's obligation to make the payments of principal and interest
.as and when due under the prior mortgage is conditioned upon the following:
~ (a) The mortgagor shall not be in default under this mortgage.
(b) The mortgagor shall comply with all of the terms and provisions of
the prior mortgage other than with respect to the payment of prin-
~ ~ cipal and interest due. _
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F. The mortgagee does not assume any of the obligations of the mortgagor undo
- 'the prior mortgage, except as provided above with respect to the payment of prin-
'cipal and interest due after the date of this mortgage.
G. If the mortgagee shall default in making any required payment of principal
for interest under the prior mortgage, the mortgagor shall have the right to advances
the funds necessary to cure the default, and all funds so advanced by the mortgagor,]
together with interest at the rate of thirteen (13) per cent per annum, shall be
credited against the next installment of interest and principal due under the note
signed by the mortgagor. !
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H. The mortgagor shall have the right to prepay the whole or any part of the
unpaid balance of the indebtedness under this mortgage at any time on thirty (30) ~
days notice without penalty. If the mortgagor prepays the whole unpaid balance,
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