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HomeMy WebLinkAbout0285 • .s? ' - i - RIDER TO MORTGAGE Rider to Mortgage dated January 18,180 between pANIEL H. LEE and CARMELLA F. LEE, HIS WIFE, as Mortgagor and.WILLARD L. BOLTON AND ASSOCIATES, SERIES 1 - LIMITED PARTNERSHIP, as M~rtgagee7 A. This mortgage is subject .and subordinate to: ' (1)that certain consolidated mortgage dated April 30, ~ t 1979 and executed by Charles H. White and Anita White, his wife in favor of Port St.Lucie Baiik~ which mortgage was recorded in O. R, Book 308, Page 75.0 of the Public Records ' of St.Lucie County,~Florida, which consolidated mortgage constitutes a first mortgage lien on the premises described. in this mortgage,inow in the principal amount of $32,841.07, with interest from January 1, 1980 (such consolidated martgaQA is hereinafter referred to as-the "First Mortgage"): - ' (2)that certain consolidated-mortgage dated December 28,1979 and executed by Willard L.~Bolton and Associates,-~ Series 1.= Limited Partnership in fa~~or ~of Charles H. White and Anita White, his ;~~~e, which mortgage was iecorded in - O. R. Book. 323, Page 791 of the Public Records of St.Lucie County, Florida, which consolidated mortgage-constitutes a second mortgage lien : ~ _ the ~freniises described in this mortgage , now in the pr.:.xtcipal amount of $5;933.15, with interest - - from December 28, 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 the Second Mortgage _ other than with respect to the payment of principal and= interest under said First MoFtgage.and Second Mortgage. - - - - - (2) In- the event- Mortgagar shall .fail to- so comply - - - with all of the terms, `prov~siohs 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-January 1, 1980 as to the First Mortgage and December 28,1979 as to the- Second Mortgage) such.~ailure on the part of Mortgagor shall constitute: a-default_under this mortgage and shall .entitle t Mortgagee, at his option to exercise any and-all rights and x ~ remedies given Mortgagee in the event of a default hereunder. - _ - - - - f (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-a~thority in -connection with the compliance by Mortgagee with the provisions hereof dealing with the. payment made or to bc: ' made to the holder of the First Mortgage and Second Mortgage shall be paid by the -Mortgagor or any owner of these ~iiemses: - - when requested by the title company and/or the attorneys - representing the holder of the First Mortgage and Second Mortgage. - - C. (la) Mortgagee agrees to Fay to the holder of the ~ First Mortgage, the sum of $32,841.07 unpaid principal balance of said mortgage, together with interest thereon - accruing thereunder from January 1,1980, as a::d when required _ by the terms of said First Mortgage, i.e., by paying the constant monthly installments of $294.08 pravi~3ed to be paid ~ thereunder on the first day of each month until the-Mortgagee ~ shall pay the entire principal of said First Mortgage and - all interest thereunder accrued and unpaid. i _ - ~ - - -