HomeMy WebLinkAbout0819 SPECIAL CLAUSES ,
The parties hereto, WILLIAM C. FURST, JR. and DARLA ANN FURST, j
his wife; and WILLIAM C. FURST and JOAN H. FURST, his wife, First Parties,
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hereafter called FURST; and ADDIS MAE CAYSON, a/k/a ADDIS MAE LEDFORD,
Second Party, hereafter called CAYSON, for and in consideration of mutual
covenants, do hereby agree and represent as follows:
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WHEREAS, FURST has previously executed a first purchase money
mortgage covering properties under this third mortgage, which first
mortgage is recorded in O.R. Book 313, pages 2185 through 2187, of the
public records of St. Lucie County, Florida; and
WHEREAS, certain differences exist judicially in Circuit Court
Case No. 79-604-CA, between the parties; and
WHEREAS, the parties have agreed to settlement and apportion-
ment of proceeds under settlement secured by this third mortgage.
NOW, THEREFORE, the parties agree as follows:
1. That the total sum hereunder of $8,680.00 is allocated
$7,000.00 principal, plus $1,680.00 interest..
2. That the parties agree that the above-referenced first
mortgage between FURST as mortgagor, and CAYSON, formerly LEDFORD, as
mortgagee, shall remain a first mortgage and this agreement shall in no
manner modify the priority of this first mortgage.
3. CAYSON agrees that quarterly payments, referred to in 1
this mortgage, commencing November 1, 1980, and payable to May 1, 1982,
shall be credited to the third mortgage. That the May 1, 1982, bal-
ance of this mortgage payment is $982.36.
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4. Commencing August 1, 1982, there shall be paid from FURST
to CAYSON, the remaining balance of the first mortgage in the sum of
$15,884.61, repayable $1,282.94 per quarter, from August 1, 1982, for the
next fourteen (14) quarters, and a final payment in the fifteenth
quarter of $1,283.01. (Payments 6 through 20 per amortization schedule
attached.) ~
5. The parties agree that the first mo;tgage, modified to the ~
extent that all amortization as required in this third mortgage shall be
credited to the third mortgage and, for so long as payment is made in
compliance with the third mortgage and note, the first mortgage shall not
be in default; amortization thereunder extended until August 1, 1982, per
~ paragraph 4 above. •
6. Any default of the third mortgage and note herein shall t
r constitute an automatic self-executing default of the first mortgage
and the balance of principal and interest due thereunder, and mortgagee ,
shall be entitled to foreclosure or other judicial remedy together ~
with acceleration of all sums due under the first and third mortgages. _
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EXHIBIT "A"
lA1viES b LESNIAK, P.A., ATTORNEYS AT LAW P.O. DR/1WER 3351 FORT PIERCE, FLORIDA 33450 TELEPHONE 305-461-2500
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