HomeMy WebLinkAbout18111. To pay all and singular the principal and interest and
other sums of money payable by virtue of said promissory note
and this Deed, or either, promptly on the days respectively the
same severally become due.
2. To pay all and singular the taxes, assessments,
levies, liabilities, obligations, and encumbrances of every
nature on said described property, and if each and every such
item be not promptly paid when due, the said Mortgagee, its
personal representatives, successors or assigns, may at any
time pay the same without waiving or affecting the option to
foreclose or any right hereunder, and every payment so made
shall bear interest from the date thereof at the rate of
eighteen percent (188) per annum. -
3, To pay all and singular the costs, charges and
expenses, including attorney's fees, reasonably incurred or
paid at any time by said Mortgagee, its heirs, legal
representatives or assigns, because of the failure on the part
of the. said Mortgagors, their heirs, personal representatives,
successors. or assigns to perform, comply with and abide by each
and every the stipulations, agreements, conditions and
covenants of said promissory note and this Deed, or either, and
every such payment shall bear interest from date at the rate of
eighteen percent (188) per annum.
4. This Mortgage is and shall constitute a Second
Mortgage with respect to the subject real property and same
shall be subject and subordinate to a First Mortgage thereon
dated November 18, 1974 given in favor of SUN BANK OF ST. LUCIE
COUNTY, and recorded in O.R. Book 233, Page 2393 of the Public
Records of St. Lucie County, Florida. Any default by
Mortgagors under the terms of any such First Mortgage, and
their failure to cure same within the time period specified
thereunder, to which this Mortgage is subject and subordinate
shall constitute an event of default hereunder.
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