HomeMy WebLinkAbout0079 RIDER TO MORTGAGE
Rider to Mortgage dated January ,1980 between
CRAIG C. MATTHEWS, as Mortgagor and UNITED PARTNERS III, INC.,
a Florida Corporation, as Mortgagee;
A. This mortgage is. subject and subordinate to:
(1)that certain consolidated mortgage dated September
17,1976 and executed by United Partners III,Tnc., a Florida
Corporation in favor of Agnes Jones, which mortgage was
recorded in O.R.Book 257 at Page 2042 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 $72,493.44, with
interest from December 9,1979 (such consolidated mortgage is
hereinafter referred to as the "First Mortgage"):
(2)that certain consolidated mortgaged dated September
17,1976 and executed by United Partners III,Inc., a Florida
corporation in favor of George W. Kaul and Lucy Kaul,his wife
which mortgage was recorded in O.R. Book 257, Page 2045 of
the Public Records of St.Lucie County, Florida which consolidated
mortgage constitutes a second mortgage lien on the premises
described in this mortgage, ndw in the principal amount of
$95,207.09-with interest from December 9,1979 (such consolidated
mortgage is hereinafter referred to as th "Second Mortgage"). r
B. (1) Mortgagor agrees to comply with all of the terms
and conditions of the First Mortgage and Second Mortgage other
than with respect to the payment of principal and interest
under said First Mortgage and Second Mortgage.
(2) In the event Mortgagor shall fail to so comply
with all of the terms, provisions 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 December 9,
1979) such failure on the part of Mortgagor shall constitute
a default under this mortgage and shall entitle Mortgagee,
i~ at his option to exercise any and all rights and remedies
given Mortgagee in the event_ of a default hereunder.
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(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 and
i Second ~9ortgage ir, preparatior, 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 and
Second 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 N,ortgage
and Second Mortgage.
C. (1) Mortgagee agrees to pay to the holder of the
First Mortgage and Second Mortgage the following:
4 (a) the sum of $72,493.44 unpaid principal balance of
t said mortgage, together with interest thereon accruing
thereunder from December 9,1979, as and when required~by the
~ terms of ,said First Mortgage, i.e., by paying the constant
E monthly installments of $1,123.30 provided to be paid thereunder
on the ninth day of each month until the Mortgagee shall
pay the entire principal of said First Mortgage and all
interest thereunder accrued and unpaid.
(b) the sum of $95,207.09 un aid
p principal balance of
said mortgage, together with interest thereon accruing
thereunder from December 9,1979, as and when required by the
terms of said Second Mortgage,ie.e., by paying the constant
monthly installments of $1,101.09 privided to be paid thereunder
on ,the ninth -day of each month until the Mortgagee shall~n
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