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THIS IS A BALLOON MORTGAGB AND THE FINAL PAYMENT OR THE BALANCE DUE I ~
~3. ~~+"iRfNilit~?wR7~G6 DEED $28,000.00, TOGE7,'H ~,~•~~T~ AC D INTEREST, IF ANY,
executive line t~NO AZ~~VANC~ MADE BY THE MORT EE
UNDER THE TE THIS trlORTGAGE.
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~ F.xecttted this 31st daq of January .9. D. 1980
rrr by '
ROBERT MASELLZ and MILDRED B. MASELLI, his wife,
- ~
~
~ ~ hereinafter called the ~ltortgagor, to
PETER PARIS, JR. and MARJORIE PARIS, his wife,
m
- T ~ hereinafter called the ,Mortgagee.
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~'l,;ii and sometimes referred to collectively as "Third
Mortgagee"
o_ . .
~ ~tt1lPB~Pf~, t.~iat for divers Food and valuable considerations, and also in
consideration of the aggregate srcnt Wanted i~a the IirontissoriJ note of ~t?en date here-
£ ° ~ ~ ~tvith, hereinafterdescrtLed, thesaid Jliortgagor, does grant, Ixn~~sai.n, sell, alien,?remise,
release, convey and confirm unto the said Mortgagee, in fee simple, all that certain
irrui of ianci, of tuh.icit iite said J~iortgagor is nvw seized ctfrc% possessed, a.nd i.n actual '
possession, situate in St . Lucie County, State of Floriclu, described
I as follows:
Lot 7, VIKINGS LANDING SUBDIVISION, PHASE ONE, according to the Plat
thereof recorded in Plat Book 18, page 7, St. Lucie County, Florida
public records.
This is a purchase money third mortgage junior to an existing mortgag
in favor of Chase Federal Savings and Loan Association (hereinafter
referred to as "Senior Mortgagee") dated and recorded on September 23,
1977 in Official Records Book 275, page 230, St. Lucie County, Flori
public records and junior to an existing mortgage in favor of Victory
Construction, Inc. (hereinafter referred to as "Junior Mortgagee")
dated June 14, 1978 and recorded on July 14, 1978 in Official Records
Book 290, page 1241, also in public records of St. Lucie County, Flor a,
both such mortgages which are hereinafter referred to collectively as
"Existing Mortgages".
~ Mortgagor covenants and agrees to make all payments due both the
Senior Mortgagee and Junior :iortgagee consistent with the terms and ~
' provisions of the notes and existing mortgages securing same within
ten days prior to the expiration of any applicable grace period provi dt
for in said existing mortgages and notes. Mortgagor further covenant
and agrees to comply with all of the other and remaining terms and
~ provisions of such existing mortgages and to, upon receipt by Mortgag
of same, immediately provide the Third Mortgagee with any and all not es~
received by the Mortgagor from either or both of the Senior Mortgagee
and Junior Mortgagee. In case of default in any of the obligations e
either or both of the Senior Mortgagee and Junior Mortgagee, the enti
sum due and secured hereby shall become immediately due and payable a
the option of the Third Mortgagee. Further, in the event of any such
default, and in addition to any other rights and remedies available t
the Third Mortgagee, Third Mortgagee may,- but need not, make any pa is
or perform any acts herein required of Mortgagor in any form and mane
deemed expedient, and may, but need not, make full or partial payment f
principal or interest due under the terms of the existing mortgages,
other prior encumbrances, if any, and purchase, discharge, compromise
or settle the existing mortgages, any tax lien or any other prior
lien or title or claim thereof, or redeem from any tax sale or
(Continued-in space following paragra h 8
hereo~)
~ U~D ~I~ae ~n~ #p old the same, together with the tenements, hereditco- ~
ment8 and appurtenances, unto the said Mortgagee in fee simple. l~
.~1tud said Mortgagor does covenant with said Mortgagee that said Mortgagor
is indefeasibly seized of said land in fee simple; that the said Mortgagor has full ~
power and lawful right to convey said land in fee simple as aforP.said; that it shalt be
lawful for said Mortgagee at all times peaceably and quietly to enter upon, hold,
occupy and enjoy said lacnd; that acid land is free from alt ineumbranees; that said -
Mortgagor will make such further assurances to perfect the fee simple title to said
land to said Mortgagee as may reasonobly be required; and that Said Mortgagor
. does hereby fully warrant the title to Said land and will defend the same against the i
lau~'ul claims of all persona whomsoever. ~
~~325 p~ ~0