HomeMy WebLinkAbout2039
~ ~ - s
MORTC3ACiE I~ID~R
THIS MORT<3AGE RIDER m Inoorpotated into that certain mortgage entered into by
aROySR 0. OQUP~tf III .AHD St>SAN tl.,_COpP$t~ ffiS YZFB
and FIRST FEDERAL SAVfNa3 ANt3 LOAN ASSOCIATION OF MARTIN COUNTY.
The bltoeting are .additional. covenants under the above referenced mortgage:
24. If breclosure proceedings of-any seCottd mo?tgage ~ second trust deed or any junior Tien of any -
kind should be instituted. the Association may at its optlor~, immediately or thereafter declare this
mortpa?ge and the indebtedness secured. hereby due. and payable. ~ .
25. Totheaxtentof thelndebtedneesofthe MortgagorstotheAssociationdescribed hereinorsecu•ed
hereby, the Association is- hereby sutxogated to the lien or liens and to the rights of the m
and holders thereof of each and every mortgage, qen orother encumbrance on the tend described
herein or securod hereby, and the respective liens of said mortgages, liens or other encumbrances
shall pass to and be held by the Association' herein as security for the indebtedness to the Aso-
elation herein described or hereby secured, to the sameextent that_it would-have been preserved
and would have been. passed to and been heW by the Association had it been duly and regularly
assi9nec~ tiransferr+ed, setower.artddeliver+ad uhtatheAssociatlon byseparabdeedofassignment;
riQMllifiS[~lnQlil9 ilia 12!41 UHl! p1tl SaH101tigj YO volualqu o~iv vv~ tw~wvi v~ rwv.v, w.: ~ ~ i~41An.
tion of the partMes hereto that the earns viii ~ sa~sfisd -and ~a~~~iied of record by the huld~rs
thereof at or about the tune of the recording of-this. mortgage.
26. That to the event that this mort~ge be given to secure a construction loan, failure on the part of
the Mortgagors or their contractors to cattplete said building in accordance with Construction
loan Agreement, of even date herewiU~, or tb build. Said construction in accordance with plans -
andspecifications filed with the Association, shall .constitute a breach of this mortgage, and, at the
option of theAssociation, immediately mature the entire amount of principal and interest fiereby
secured. and the Association may immediatey institute. proceedings to foreclose this mortgage..
In the event this mortgage is purchased by a third party,-these additional covenants mentioned above.
shall become null and void. ~ Y
IN WITNESS WHEREOF, Borrower has executed this Mortgage Rider this. 'i3th day of
FFBRUAR7f ~ 1 ~ $p ,
Signed, sealed and delivered
in the p?esenc:e oi:
t~4
C. COOPER, I
- ~s~an
SUSAN ~4. COOPER
1 b N~~ 20 - r~q
F o ~K~p~~o~~,~ 4'7!606
R CtitC~~~t
STATE OF FLORIDA. County ss: ANN
I hereby certify that~t~y~ pefore me. an officer duly authorized in the state aforesaid and in the
county aforesaid to take acknowledgements, personally appeared
GROPER C. COOPER, III AND SUSAN M. COOPER, HIS MIFF
, to me known to be the person(s) described in and
who executed the foregoing instrument and acknowledged before me that Borrower executed the same
for the purpose therein expressed.
WITNESS my hand and official seal i(~n/^~the county and state aforesaid this ~3th
r. ~ W
day of~~•? ~ ~ ~ ~ 19
/9 /
M
~~~s, .t.~;+ wit ~n
_ 3-
¢ '~~tjlli~~i~ Sr