HomeMy WebLinkAbout1941
MORTGAGE RIDER
THIS MORTGAGE RIDER is incorporated into that cerlain mortgage entered into by
GLENN G. ARTERS AND DOROTHY L. ARTERS. HIS WIFE
and FIRST FEDERAL SAVINGS AN~ LOAN ASSOCIATION OF MARTIN COUNTY.
The following are additional covenants unde~ the above referenced mongage:
24. If foreclosure proceedings of any second mortgage or second trust deed or any junior Iien ot any
kind shoutd be instituted the Association may~ at its option, immediately or th~reafter declare this
mortgage and the indebtedness secured hereby due and payable.
25. To the extent of the indebtedness ~f the Mortgagors to the Association described herein or secured
hereby, the Association is hereby subrogated to the lien or liens and to the rights of the owners
and hol~ers thereof of each and every mortgage, lien or other encumbrance on the land described
herein or secured hereby, and ihe respective liens of said mortgages, liens or other encumbrances
shall pass to and be held by the Association herein as security for the indebtedness to the Asso-
ciation herein described or hereby secured, to ihe same extent that it would have been p~eserved
and would have been passed to and been held by the Association had it been duly and regula~ly
assigned, transferred, set over and delivered unto the Association by separate deed of assignmen~
notwithstanding the fact that the same may be satistied and cancelled of record, it being the inte~r
tion ot the parties hereto that the same will be satisfied and cancelled of ~ecord by the holders
ihereof at or about the time of the recording of this mortgage. ~
26. That in ihe event that this mortgage.be given to secure a construction loan, iailure on the part of . -
the Mortgagors or their contractors to complete said buildir~g in accordance with Construction
Loan Agreemen_t, ot- even date herewith, or to buitd said construction in accordance with plans :
and specifications filed with the Association, shall constiiute a breach of this mortgage, and. at the ~
option of the Association, immediately mature the entire amount of princ~pal and interest hereby j
secured and the Association may immediately institute proceedings to foreclose this mortgage. ~
In the event this mortgage is purchased by a third parly, these additional covenants mentioned above #
shall become null and void. ~
fN WITNESS WHEREOF, Borrower has executed this Mortgage Rider this ?g~ day of
--.1ANUAF,v - , 19 g~•
Signed, sealed and delivered .
~ ~
~
•
in the presence of:
~' ~ ~~
~`
~%f ~~~"`2
` ~
~
,
n
-
(Seag
~ ~ ~ GLENN G. ARTERS
- -
~ i
~ /L'~'1~~~,~~ ~'4~--t.c {!t - ~L ~~ L.1 (Seaq
~ LOROTHY-'L . ARTERS
I~,U1~i 30 P!~ 12~ 23 (sea~-
:u.EC R-•c ~= c~~r~::, 515~8
SL~UCI= CCUV~ Y.~t r-
fic6ER f 011 ftt•S (Seaq
CL~~;CU>. ~C"~:F ~
STATE OF FLORIDA,R~"-~F~'~~'~~' County ss: MA
-
i
h
f
aT~
~
or~
n t
e
s
a
d
I hereby certify that on lhis day, before me, an ofiicer duly authorized in ihe state a
county aforesaid to take acknowledgements, personally appeared
GLEN~! G. ARTERS AND
LOROTHY L. ARTERS, HIS WIFE
, to me known to be the person(s) described ~n and
who executed the foregoing instrument and acknowledged before me that Borrower executed 1he same
for th~,~p1~1~~io ~tt~rein expressed.
r` y. ~~~., ~
, P~ ~..:~4. .
,~ ~~~.~ _ l~y hand and official seal in the county and state aforesaid this ~BTH
1 ~
C C ~•
~,,~f~` rt . ~ ,~~Y , ~ 9 ~ 1 -
! S ~ 1.: ~ ::ti• .k. •
..,~5` , e~c~Sires: ~~~9~~~
:;- .:.~~'~''. ' /~ . -
. . : ~, ~. , /7
# ' N ry bhc
j Seaq
i
~ A-301A E>>g 3~~til J~~ PMGE1935 -
- _ - - ~~
~ T-=-- . _ _.. . _ _ - - - _~_-~- . . .
~.- ~ -~ . _- _~ - ~~. ~: - -
v .-~,.v~:~ .,. ~~ .~.p,=_ ~ _~ _ : ~ ~~: ~:~~,~