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~ i U6CAR COGAN and JANICE OOGAN. his wife .
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;.p ~ he~eina~ler ca«ec~ ff-e morlgaflor, !o ~.~„j ~~ ..,,.~... ~e ±.~
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" y ~ E. HWK and NF~RZON P. HOUK, his wife i::-, ~~ •: s•c. r~•: ;~ ~-~.E r~,.'.: .•,l P3:9?ERTX.
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..;,;. hereina(ler calle~l Ihe morigagee: CI:Y.K q: ~~:T CC~~T. iT. W~ ~~~ '
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{NlKrn-cr uxd hereia t6e urm+ "mor~~ oi aad "wortRaSei' ixlu8r a11 the p~r~ies to tblin iaswos~t a~d tl~e 1ein, ~
. i + kRal rcpre+ewuti~~es and a~ti m o( i~. aad tAe mcce~x~n and a~iS~+ d corpor~~io~r: aad U~e ~t~ ••wt~••
- iacludr~ a!1 tAe ~tes b~rci~ ~~ised it ea~e t6a~ o++c. )
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~ i ~~t(~~$~~~ tl~ae jor flood and valua6le considerations, and also in consideralion o/ the aggre-.
" gate sum named in tlee promissory nole oJ euen date herewill~, hereina(ter descri6ed, t1~e morlgagor h~•-e-
~ ~ ~ 6y 9rants. 6argains, sells, uliens, remises, conueys and confirms u~to t6e mo-tgngee a!! the cerlnin Innd
~, i o~ u~hich tl~e morlgagor is now seized and in posaession aituafe in St. I7UC1~ County.
Florida. viz:
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Canc3aninitnn Parcel No. 133 of CAPSrAN I, aocorc~i~g to the Decl,araticn of
~ Ccndaniniwn theic~eof as rec.~orcled in Official Reo~rci Bocalc 232 at Page 619 throuc~ I!
' 711 of the publi~ recards of St. Iucie Caanty. Florida. ***
THIS IS A P[J~SE Nl~.'Y WRAP AROirID SDOCJi~ID M~IC'~~ ~id1 is ~bordinate to that
oertain Mo~t~gage fran Carra Adams to SLm Bank of St. I~uci,e Cainty, dated Deceqrber
31, 1974 and recox~ied in Official I~cord Boolc 235, Page 151 of the public reccrds
of St. Lucie County, Fl~ida, securing a praniss~azy nate of even dat~e in the swn
~ o~ $45.000.00. NbrY~gagor agrees to can~ly with all of the terms, provisions and
ccnditi~oezs of said first m~rt~qage o~th~r t1~an those apPlicable to the payrc~ent
: of gri,-~cipal and anterest ur~der the said first mc~rGgage. In case Nb~rteyagor fails
~f to c~on~ly with each and ewety ane of the tezms, provisirns and conditions of the
i said first m~rt~gage, or is in default under that said first m~rt~gage, other thar~
in respect to p`~rnnts of princip~al ar~d intexest due wiciex said m~rt~gage, said
failure to crnQly ar default rn ttie M~art~gagor's part shall ~title Nbrtgagee, '
at Nto~tgagee's op~t.irn to exe.rci.se any and all of the ric~ts and re~nedi.es in case
~, of default wxier this Nbrhgage. Nbrt~gagees agree that they shall mak+e all of
~ the principal and interest paym~its as they beccme c3ue rn that oertain m~rtga9e
' described above. In the e~ent the Nbrt~gagees fail to m~ke anY PaYments required
~ umder the aforesaid mr.~t~gage, the I~byagor shall hav~e the right, wit-hout waiving
~ any ric~ts or remedies by reascn of NbrGgagee's breach, to pay any Pal+m~rits c~ue
~( an said first martgage. as set forth in the pranissory notg of even date between
'(j the Mart~gagor ancl the Nbrtgagees, and ~t payments so m3de, together with ar~y
i~ exPen9e incurred by Mo~t~ga9or fran the next ensuing pa~~ment(s) due•under the
~. te~ o~ the promi.ssory nabe s~cured by this NbrGgage. Mort~agee agrees to
i~ furnish within fifts~ (15) days following the date ~e ~s~ for paym~nt
'' rec;iiired under the first m4rtgage. P~'oof of payment. NbrG9agor and Morbga9ee
~j agree ta s~d each other oopies of arYy noti+ces reoeived by ~then fran the holder
i~ of the f irst martgage .
ZNIS IS A BA~,imN 1-'bKIC'~AGE AND THE FINAL PAYI~JP OR Ti~ BAT~ DUE iJPCJN
MATtktiTY IS S120,000.00 Z~OC~TE~R WITH AaCRUID IlJ~ST, IF ANY, AND ATT•
ASSES.SNEATIS I~ADE BY 'I'~ NI~tTGAC~ LR~ID~ER T'FIE TF•RN6 OF Z~IIS M~KPG~(£ .
*** i.ncluding furnitta'e, fixtures a~d f~nishings naa nn tl~e p~renises, which
ite~s are mo~re particularly described in the p~c~ase agreement bet~aeen the .
mc3rtg,agar and tt~e ~nrtg,agee.
The Nbrtg,agor st~all have the rigk~t to prepay the whole or any part of the uipaid
bal~ce of the indebtedr~ess under this irortgage at any ti.me. When the mc~rtg,agor
pays the whole of tt~e of the tnpaid balance, mo~rtg,agor may reait to the first
mortgagee, vn behalf of the zrortgagee herein, o~ut of the pa}roff finds, the
uiam4rtized principal balance of the first m~rtg,age together with accn~ed
interest, it being ~nderstood that w~~ert the wraparand mo~rtg,age note is paid
in full, the first irortg,age ~te will be paid and satisfied.
In the event the first m~rtgagee takes exception to this wraparo~d m~rtgage, and
elects to accelerate the paymatt of the u~paid principal balance plus accrued
interest on the first mortgage, mo~rtgagee t~'ein agrees to imnedi.ately satisfy,
'~ at their expalse, said first martg,age and indemify mart&3gars herein from any
~ a~nd all costs and expenses reg,arding same. includir~g reasa~a~ble attorney's fees.
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br:'~;x 35U ~~2045