HomeMy WebLinkAbout1793TNIS MORTGAGE INDENTURE
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E.~~~w ~~~+ 29 ~,~Y .~~ December . n.~.. ~9 80. ~„ /
THO~lAS P. SMITH and DSNA C. SbiITH, husband and wife, ~~~'?~8
t~ n ~y ol ~he tnsl W~~ IAei~ualte~ ca11p1 Mwtyayo~l. to
~ CHASE FEDERAL SAVINGS AND LOAN ASSOCIATION '
~.~~~~w~a~~o~ e^~sh~~y unun ~he I~ws al ~he Un~~rd Sts~es ul Ame~~ca. ps~~y ot the srcoMf pa~t Ihpe~nahp ca11~d tAe Assocu~wnl.
WI7NESSETN, Tn.u fw J~ve~s gu~f a~wt w1ua1~1e ConLUk~al~onS, arwf to sltu~! th! paYr~nl O~ Ih! agy~tqat! aum O) mM~ly nanxd m th~ y~um~sso~y ~ute ol eveo d~te
i~r~r.v~~h, hnHm~le~ mrnuonM, togethe~ w~~b ~n~e~es~ ~he~con aixl all othp sumt ol money secwW AaNiy at hae~nahe~ p~orded, the Mu~~gago~ dwsy~u+~, ba~ya~n, x0.
.~~~en. rtm~se. ~Ntase. convey anct cont~~m unto Ihe Assoc.a~wn, ~n !ee s~mple. tAe tollow~ng detitribed ~eal estate. ot wn.tA tAe Ma~qagw ~s ~uw st~t~d sn~f puaxsted a~d ~n
,k ~~al postiettwo, s~twtr m Ihe Cuunly ol St • LuC ~@ ~ SN~e ol f Iw~Aa, I~qally de+cubed
,si.~~~o~ Condominium Parcel No. 7431, of CATAMARAN II, a Condominium, according to
tt~e Declaration of Condominium thereof, as recorded in Official Records Book 334,
:lt Page 2451, and any amendments thereto, of the Public Records of St. Lucie
~uunty, Florida.
SUBJECT TO terms and conditions of above Declaration of Condominium and any amend-
r~e~its thereto, and restrictions, reservations and easeraents of record.
TpGETNER v~~~A a11 st~uc~u~es arxt ~mprovements now a~xf hereal~e~ on sa~d land and ~Ae ~~atu~es atixhed ~he.eto, alto ~ogetAe. w~~~ a11 arW s~ngu~a~ ~he+encmrn~s,
~•...r.titamenti. rosen~nis. ~qwe~en ~~yb~s a~t a~Kw~~enances ~he~eumo bNong~rg, o~ m any w~se appe~ta~mrg, and the ronts. ~ssues. and p~ol~tt fhe~eol. anA a~ui a~l the es~a~e.
~ ~~.:nt, t~Ur. ~mr.est amf all da~ms and ikma~uls whetsuere~, as we~l ~n law as ~n et~u~ty, ot sd~d Mertgago~ ~o and w tne syne. aod eve.v Par~ a«1 pa~cN ~he~eol, aoA aiso a~+ y.~s
~~: rlr.~ni ~~•~u~rs, ..Mt~awii, hra~r~s, au c.i~J~uon~ng eyu~yrt~ent, mxAu~try, boders, ranqes, N~vators end motors, twtAWbs, s~nks, water c~osets, wate~ bx~ns, p~pes.
~.. :, r~s. ~ni} otnr~ p~umb~ny anJ hea~~~~v h~turFS. ~nantels. ~el~~~aony plans and ~ce boRes. rwrxlow a~reens. sueeo doo~s. venet.an blmds. s~am iAunns anef awn~nys, wh~c~
.~,.~ ~~u.v u~ nwy hr~¢altr~ pe~~e~n w o~ l~e usaYt w~th_ ~n u~ un aa~d p~e~msM. ereo thuu9h t1~tY be detachart u~ detachable. aie antl sha11 be ~3~tmtal ~o I~e fi~tu~es ~nJ xcrss~c~ns
e~~ u~c I.erhoW ~~:d a tW~~ ~~I the ~ra~ty, and, d ~he alx~ve dex~died y.upe.ty n oow o~ shaU n~~eal~er be uud lo~ ccxnme~ua~ pu~{wses. ~Ae.~ ~Ae lurm~u~e a~f fum~shmy~ and
.~:~ ,epleCr~nr~~~~ ~Ae~eot wh~ch nwy br uw~eef ~y ~Ae INu~tqnyo: a~x) wh~cA are now or may Ap~ralle~ be located upcin ~he aLovr eksc~~t~f p~opr~1V
? O NAVE AND TO NOl D ~he samr. ~oyeine~ wah au ~ne es~a~e. ~~yht, utie, mtdest, horteestead. dohe~ and ~~gM ol dov~, Se{w~ale estate, poiseiseo~. ~la~m a~ul
i~ ,~..nd .the~s~~vr~, ~n I..~rv u~ u~ equ~~y, ut ~hr sn~d Mu~ey.~~ ~n aMf ~o the same. anU eve~V P~t tAereol, un~o ~he sa~f Assouet~on ~n lee s~myle
1 hp A1u~ 14e.r+~ Arrrt~y cc~erwnis w~th the Assw ~at~ex~ tbat the Mw ~y.~Wv ~s ~rw1l1laS~Wy S!Klt1 w~lh ih! atKOlut! +nd t!! S~mpl! UII! t0 S.t~d p~o{~~ly. and Qas lull {-[!.tie~,
,.~ ~~ewtu~ au~hu~~ty ui seu, cunveY. ~~~~,sfe~ a~xl nw~~.~ the sa~ne. tna~ ,i tAell be lawlul at anY t~me haeafte~ to~ tA! AiSOaat~on to pedttal~ly end yu~tly Mtt~ upon.
.. ~.,• hu~d dMl PIq0~/ sa~J p~~~~:erty end rvr~y p.f~t ~he+eut. IAdt s.f~d p~uyr~ ly ~s lrep arKf d~uAa~ged t~um all i~eni. encumb~ances. a~d cla~ms ot ~~~y 4~nd. ~Mlud~ng la~lS .~nd
~,•~,timrnts, r.crpt thr hen t~r~rof, ~vA~~h ~s a h~st hen un se~d pn~ity. ~hat thr Murtyagw wdl make wch iwtAe~ asswarxes to pe~tect ~he tee i~nwle ~~t~t tu sa~A p~eWr~ty
,. •~~r Assu~wt~.~n as meY ~@.~SUIIJIII~f IIp ~ryuu¢al. and that the Ato~ty.yu~ dues he~eby tully w.inam untu the Aswcat~on Ihe t~tle to sanf p~oye~r~ and w~l~ detend same
, ~~it the inu~ty.r~ it~~ms.~nJ drn~en~ls u1 all ~~~wni wnu~nweve~_
NpW. THEHEFORE, thr cun~L~~.~n o! th~s mu~~9aye ~s such ~ha~ ~f the Mo~tyayo~ shau wen and vuiy Wy umo ~he Assbcwtwn, tfle ~rWebtafness
. frnce~f by ~ha~ ~eri.un p~um~uu~y nutr, ot eyen datr he~rw~th, made tq the ~do~tgeyo~ ar~d payable to ~he Assocwt~un, ~n the V~~M~~~~ wm
' SEVENTY THOUSAND, ONE HUNDRED-------------------------------------- -ao«AKs
~ 70 ,100 . 00 ~. ,~,he~ w~th ~nterest as the~em stated, payaWe ove~ a te~m ol 348 monlhs, and Shall
, ~~~m. c~nyily .r~th .~ud ebiHr by e.~ch amt every ~he si~pu~rt~ons. aq~er~nents. cond~UUns arn1 coVenartts co~~a~ned n~d set for~h ~n ~A~s mw tg.e.~r enA ~n the p~om.swry nute
.~ ,~~~1 hr~vl~y. enrn rtui mu~tu.s~;7r ~~ut inr es~ate ne~eby c~e.~ted shan ~easr aod be null and vmd.
TRANSFER OF THE PF20PERTV; ASSUMPTION
i f ill ~. anY pert ut tAe Property or an interest therein is soW or transfened Gy Mo~tgagor wrthout Associauon's prio- wntten consent, eactudmg la) the
~~~ ~t~on ut a ~~.•n or encumb~ence wl~ord~uate to ~h~s Mo~tgage, (b) the c~eatio~ of a purchase money security interest for household appbances, (c) a lra~ste-
,~trwse, descent or t~y operat~on o1 law upon che death ol a ~o~nt teoant or (d) the 9rant ot any ~easehotd interest ot three yean or less ~ot contami~g an
,.r„~~• tu purchesr, Assoc~atron ~nay, at Assx~atior.'s optwn, dxlare all the sums secured by this Morlgage to be ~mmed~aiely due ar~d parable_ Associauon
.! ,~u hnve ~ti.uvarcf such opuon to accelerate ~1, pr~or to tlie sale or transter, Assot~aLOn and the person to whom tAt Property ~s to be sO~d or traniter-ed reach
r.•nw•ne ~n .vrrting tha~ tnr, creA~t of such persun ~s satntactory [o Assoclation and that the interesl payable on the sums~secured by thls Mortgage sha11 be
'f •, ~, h ra~r. es As~uc~at~o~• saell ~equest_ 11 AssxiaUO~ has waived the option to accete~ate provided in this paragraph and if Mortgagor's Luccesso~ in interest
•, rxecu~r~t a wr~ttrn asswnntiun ay~ren~ent accepted 1~ writing by AssociaUOn, Assoua.ion shall release Mortgagor from all obl~gat~ons under tMS Mo~tqage
~ '.t thn hol.r.
if ASSJC~:itWnr~r~C~i¢iSUCh O{l~~On to accelerate, Assoc~ation sha~t mad Mortgagor notice ot xcele~auon. Such ~otice shall provide a penod o1 not less iha~ _
'~~ .:.~ys /~um t~x• Jai~ ti~e not~~r is maJa~d ~vrthin which Mo~tgagor may pay the sums declared due. It Mortgago~ fails lo pay Suth wms pno~ to the exp~ra
.~ ot >~uh penod, Assoc~auon may, ~v~thout turiher ~otice or demand on Mo~tgagor, i~voke any remed~es perm~tted by paragraph 15 hereof.
AND tr~e Mortya9or doos he~eby covenant and ayree
T„ uay all a~d s~ngular the pr~nupal and ~nterlst and otASt wms of money pay~ble by v~rtue of sa~d piomissory nOte and ttus mortpage. ~ ertAer. promptly on
:he Aays respecnvely the same sevsralty bsCpme due
iu paf a~~ a~d s~ngutar cne taRes. asssssments. other povernmentai lev~es. t~ab~hUes. obl~yatrons and e~cumbrances o1 eve+~ rutu.e on sa~d dexr~Ded p~openY
a~:d ~he rela[ed debt acqu~s~t~on~esch and evsry wMn due ~nd psy~bb accordmp to Isw. Detwe tAey Decome de~~npuent and. d ths same shall not bs p~omp:ty
po~A ~hr Assoaa[eon maY at any t~me ertAer Deiwa o~ after de~~rr~uency. psY the same w~thout wa~v:ng or aifect~ny the opuor: t0 iwecbse w any nght
nereuncler and every payment so made stisN bsir ~nterost from tAe dale thereoi at the rate o1 eN~hteen pe• cent ! 18`~! per ann~m
Tr„t: ~ne Morigayo~ wdi keep a~l rea~ and personal propsrty now w Aereafter encumbered by tAe 6en ol th~s mortgage ~nsured ss may be rpwred lrom Gme fo
:.~.,e uy tne Assouat~o~ agamst bss by hro. wmdstorm and otAer buards uwalues snd tonLnpenaes for wcA penods and (a ool less than SucA amaunts as
:neti be rey~:red by the AssouaUOn and to pay promp:ti when due aN prem~ums fw wch ~nwrance Matgagor aprees to Oelwer ~enewaf w replacement
;~~i., :es of any nature or replacement cert~ficates of msuiance to the Assouatron_ at ieast ten I10} days Wror to [he e~Wfatw~ or anmverssry date ot the eusc~ng
n~~:~, ~es 7ne a~nounts of ~nsurance requ.red Dy the Assouauon snall be m~rnmum amounts tor wn~ch sa~d m5ur~nc! Shi~l b! wn[tpn ~nd ~t Sha~l be ~nGUmbtnt
~::,~~~, ine Mor[yayu~ ro mamta~n such add~tronal mwrance ss may be necesssry to mee~ s~d complY fully w~th all co-msurance rsqwremems conta~nsd ~o ss~d
~~~'•~: ~es to the end Ihat sa~d Mo~tyapw ~s not s to-~nsuror tAereunder Inwrsnca shall be wntten by a compa~y or ~pmparues spproved a des~pnated Dy the
Assac.~at~cxe and a11 puLUes and renew~ts tnereof shait be heW Dy [ne Assou~i~on A11 dets~led des~ynatans by the Mortgspa w-uch are accepted by the
A;,ouat~on and a~i agreements between Mor~Qago+ and Assoustan relaUnp to ~nsur~nce. now e~~surp or he~eafter made. sha11 be .n wr~U~y and shs~1 be a p~n
ef tti~s murtgage agreemem as futly as tAOUph sat forth verWt~m here~r. and snslt povern both parues Mereto snd the~r wccessors and sss~~ns No hen upon any
ot sa~~ ~wl~ues of msurance or upon aoY relund M reWm prlmwm wh~ch msy be pipbM On ihe cincellaUOn or term~nstwn the~sol, sM~tl be g~ven to otAer than
the Assouaian. eacspt by propsr ~~dorserrMM sfhasd to wcA pobty snd spproved by the AssOaatwn EacA pol~cy of mwrance sha11 nave aH~~sd thereto a
S~andard New Ywk Mortgagee Clsuse nnthout ConU~but~en. malurp s11 bss a bsses undsr wch pol~cy psysbls to the Assoc~stwn as rts ~ntersst msy appesr
~n the event any sum or sums of .. become WYaDte tAereund~r. the AssoCiatan shsU Mre the opt~on to rstervs and app1Y tAe ssme on ~ccount ol the ~n-
:feUtedness Aereby secure0. Of to pRrm~t thQ MOrtpsQOr.tO rlCSiv! afld uS! ~t. q any pirt thErlOf. w~11WUt t~1Qr~ wirv~tl~ M ~nlpi~r~ny sny lpu~ty. t~ln W rwht
un~er and by v~rt~e of th~s mwtgage In ~vant of bu a phrs~cal d~m~pe to tNe mortyspsd propeny. tAS Mortyapor shs11 yrve ~mmed~ste rauce tMrsol Dy ma~i
co [ne Assouatwn a~d the Assouatan may mske proot ol bss d tAe sams ~s not msde promptly by the Mortyapw In erent ol fasclowre oi tMS mo-tgage. a
utr.er transfer ol utle to the mohgayed propsrty. ~n exU~+W+~shmsnt o1 the uW~Dtsdness sscured t~eroby. all ~qht. Ufle and ~ntaest of tiie Mortpspa m and to
anY ~nwrance vol~ues then m fwca shslt pass to ths purchassr a prantse TM Mortpapa further a~ees to sWda by the rules snd ex~suny repulstans of tAe
Assouat~on ~n connecuon w~th rpuusd ~nwr~nce covNSps of tM prop~rh MrN~ ~ncumbered
4 Parag~aph 4 and tAose wtucA folbw an conu~n~d on tM rw~rs~ sde of tMs monpp~ and by abrencs sre u~cwpor~nd uNO tM Dody ol tlrs mortp~y~
The terms Mo.tgsgor and Assoc~a~~on, whenerer used ~n th~s ~nstrumem, shall ~nclude the heus sonal represenqtnes, succe or assqns ol tAe ~espectne part~es
~ere~o. W-~e~ever used. cAe s~ngubr number sha11 ~nclude tAe ptu~al ~~d Ihe D~ur~l tA! f~ 1sr. snd use o1 sny gender sAsll ~ntl~ g~nders.
IN WITNES$ MVHEREOF, th~st prem~ses hm bet~ exetuted on tbe day and yesr tust ~ ~ttM. ;.
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sTATE oF _._ _FLORIDA coutvTroF ST. LUCIE
Tne ~o.e9o~~y ~~saoroem was xk~ow~ed9ed bet«e me cn~s 29 d,,, o~ Deeember ~g g~ by
THOMAS P. SMITH and DENA C. SMITH, nd an wi
My tomm~uion t~p~ret
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