HomeMy WebLinkAbout0714 rpRTOAa[ D[[O ~ RAMCO FORM R[s'
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Executed the day of /4~J"1t~ A. D. 19 80 6y
JAMES G. SAMPSEL and SALLY L. SAMPSEL, his wife
hereirtajler called the mortgagor, to
RICHART IRRIGATION, INC., a Florida Corporation
hereinafter called the mortgagee:
(W6erever tascd herein the terms "mort at~~oar attd "Dort;asee" include all the. yartia to tsis imtnsest and the ?sirs,
i hgtal represenuti~es and a+ai6m of isdiRviduab, and the surresors atsd assi~ss oI carPoratioss; and the term "sole"
includes all the suta sereis described it mole tsar one.)
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~lt~~r~bl, tha! for good and imlua6le considerations, and also in consideration of the aggre-
gate sum named in the promissory note of even date herewith, hereinafter described, the mortgagor here-
by grants, bargains, sells, aliens, remises, conveys and conjirnts unto the mortgagee all- the certain Land
of which the mortgagor is now seized and in possession situate in St. Lucie County,
Florida. viz:
Lot 5, Block 2, CAROLWOOD TERRACE, first addition, as
recorded in Plat Book 14, Page 50, Public Records of St. Lucie
(County, Florida.
~ This is a second mortgage and is junior and inferior to
the mortgage from JAMES G. SAMPSEL and SALLY L. SAMPSEL, his wife,
in favor of First Federal Savings and Loan Association of Fort
Pierce, dated September 17, 1975, and recorded September 19, 1975,
,in Official Records Book 243, Page 2684, Fublic Records of St. Lucie
County, Florida.
The mortgagor covenants. and agrees that they will
i{keep the first mortgage in good standing and will make all payments
lthereunder when due and otherwise comply with all of the covenants
land agreements thereunder. The mortgagor further covenants and
agrees that they will not accept any modifications of said first
mortgage and that they will not accept any future advancements
-(thereunder.
I
If the mortgagor shall be in default in making any of the
j 'payments called for in the first mortgage or if there shall be any
idefauit in the mortgage so as to cause the same to be accelerated
land the indebtedness secured thereby to become due and payable,
then the mortgagee herein may, at his option, make such payments as
fare due on the first mortgage, which payments, together with-
I'interest thereon, shall thereupon be added to the indebtedness
.secured hereby and shall be secured by the lien of this mortgage
and/or the mortgagee may, at his option, elect without notice that
;the entire unpaid principal balance and all their sums secured
hereby, together with interest thereon, shall become due and
;payable forthwith without notice and may enforce payment thereof by
foreclosure or otherwise.
- t
I In the event of the sale of the above described property,
(the note and the mortgage shall become due and payable,. such proceeds
~ to be applied in the manner set forth in an agreement by the parties
dated March 18, 1980.
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