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tJRAP-AFt~UND RIDER
1. This is a purchase money second mortgage, subject only to
a first mortgage in favor of J. T. Stewart riortgage Company~ Inc.,
recorded in OR Book 1A2, page 2190, and assigned to Federal
National Mortgage Association recorded in OR Boak 198. page 964,
of the Public Records of St. Lucie County, Florida having an~
approximate unpaid balance of $12.400.00 , hereinafter called
"prior mortgage".
2. (a) The mortgaEor agrees to comply with all the terms and
conditions of the prior mortgage other than with respect to the
payment of principal and interest due under the prior mortgage.
(b) If the mortgagor shall fail to so cotnpiy with all of the
terms, provisions and conditions of the prior mortgage so as to
result in a default under it (other than with respect to payr.tents
of principal and interest due), that failure on the part of the~
r~ortgagor shall constitute a default under this r::ortgage and sha':
entitle t:ie r.~ortgagee, at its option, to exercise any and all rig%~ts
and rer:iedies given the mortgagee in event of a default under thi5
mortgage.
3. (a) The mortgagee agrees to pay to the holder of the prior
mortgage the unpaid principal balance of the r.~~ort~age, together ca~Lh
all interest accruing under it as and eahen required by the terms ~f
the prior mortga~e, i.e., by paying the constant mont:~ly installments
no~-1 of $94.57, but subject to increase, each orovided to be paid :'or
the duration of Che nrior mortgage.
(b) All those payments provided to be paid by the mortgagee,
nursuant to the provisions of subparagraph (a) above, shall be rnade
by the mortgagee before the expiration of the applicable grace pe-r~od
provided for those paytr:ents as contained in the prior mortgage.
(c) tiotwithstandir.g the foregoing, the r~ortgagee's obligation
to make the nayr.zent of principal and interest as and when due under
the prior mortgage is conditioned upon the follo~aing:
(i) The mortgagor~sha~l not be in default under'this
r~ortgage . ~ ~
(ii) The riortgagor shall compl_y :oith all of the terr.:s, and
provisions of the prior r:ortgage other than with
respect to the payment of nrincipai and interest due.
(ci) The mortgagee does not assur~e any of the obligations of
the ~:ortgagor under the prior ~ortgaRe except as provided above
:,rith respect to payments of principal and interest. _
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