HomeMy WebLinkAbout1062MORTGAGE RIDER
THIS MORTGAGE RIOE~i~ incorporated into that certa~n mortgage e~iered into by
WILFU~ E. MCISS,AMD JANICE ,1. MOSS. HIS WIFE
AND WILBUR E. MOSS, SR. and ALICE M. MOSS, HIS WIF'E
and FIRST F~DERAL SAVINGS AND LOAN ASSOCIATION OF MARTIN COUNTY.
The following are additional covenants unde~ the above referenced mortgage:
24. If foreclosure proceedings of any second mortgage or second trust deed or any jun~or lien oi any
kind should be instituted. the Association may at its option, immediately or thereafter declare this
mortgage and the indebtedness secured hereby due and payable.
25. To the extent of the indebtedness of the Mortgagors to the Association described herein or secured
he~eby, the Association is herebq subrogated to the lien or liens and to ihe rights of the owners
and holders thereot of each and every mortgage, lien or othe~ encumbrance on ihe land described
herein or secured hereby, and the respective liens of said mortgages. liens or olher encumbrances
shall pass to and be held by the Assoc~ation herein as security for the indebtedness to the Asso-
ciation herein described or hereby secu~ed, to the same extent that ii would have bee~ preserved
and would have been passed to and been held by the Association had it been duly and regula~ly
assigned, t~ansferred, set over and delivered unto ihe Association by separate deed of assignment,
. notwithstanding ihe tact that the same may be satisfied and cancelled of record, it being the intem
tion of the parties he~eto that the same will be satisfied and cancelled of record by the holders
thereof at or about the time of the recording of this mortgage.
26. That in the event that this mortgage be given to secure a construction Ioan, failure on the part of
the Mortgagors or their contractors to complete said building in accordance with Const~uction
Loan Agreement, of even date herewith, or to build said construction in accordance wilh plans
and specifications filed with the Association, shall constitute a breach oi this mo~tgage, and, at ihe
- option q( the Association, immediately mature the ent~re amount oi principal and interest hereby
secured and the Association may immediately institute proceedings to foreclose this mortgage.
In the event this mortgage is purchased by a th~rd party, these addst~onal covenants mentioned above
shall become null and void. ~;
IN WITNESS WHEREOF, Borrower has executed th~s Mortgage Rider this ~ %`/y~ day of
JANUARw
19~L_
Signed, sealed and delivered
in the presence of: ,
'~Q(.~J
~ ~.
WILBUR E. MOSS, SR.
Y L~.LG~c~ ~~7 • / ~ ~N"~L%LJ (Seaq
1961 J~f: 23 P~ ~ 37
- 51~~6 :1C'Q LHi !:~ G_.F.:ii:
S1.tllClE i.Ova; Y.f: r.
HU6ER PO~ ~ R~:S
CIERi:. ~ ;,~t; ~r~:;o
' ~~~ ~p'~~:~:,~~~ - ~. tSeal)
WILFU~: E. t~iOSS, JR. ~
' ;-- ~,jLc_c~J '~ ~_~~.-,~~ (Seaq
J ICE J ~OSS
. C.v - ' ~/ l~
LX-tst.~..~ ~ /~ . (Seal1
~r ALICE M. MOSS
STATE OF F}~~~XX ~~ ~ ~ •• ~ .- . ~: • ~ ~ ~ • ~County ss: ~'
I hereby certify that on this day. before me. an officer duly authorized in the state aforesaid and in the
county aforesaid to take acknowledgements. personally appeared
WI LHUk E _ MOSS, ~~tU
.JANICE J. MOSS. HIS WIFE AND WILBUR E. MOSS, SR. and ALICE M. MOSS, his.
wife
. to me known to be the person(s) described in and
who executed the toregoing instrument and acknowtedged before me that Borrower executed the same
for the purpose therein expressed.
WITNESS my hand and official seal in the county and state aforesaid this`' ~'~~
day of JANUAkY
t9 81 ~
~ My Commission expires:
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