HomeMy WebLinkAbout042618. Acceleration; Remediee. Except as provided in paragraph 17 hereof. upon Borwwer's breach ot any oovenant or
agre~~ment oi BoROwer in thie Mortgage. including the covenanta to pay when due any.euma ~ewred by thie Mort~sge, I.ender
prior to uccele~ution ehall mail notice to Borrower ab provided in paragraph 14 hereof epecitying: (1) the breach; (2) the actioa
reyuired to cur~ euch breach: (3) a date~ not leae than 30 day. tirom the date the notice is mailed to Borrower, by which ~uch
breach muat be cured; and (4) that failure to cure euch breach on or be[ore the date specitied tn the notioe may reault in
acceleration otthe eume secured by this Mongage. foreciosure by judlcial proceediAg and eate otthe Pwperty. The notice shall
further inform Rorrower of the right to reinstate atjter scceleration and the ri~ht to sssert in the [oreclosure proceedln~ the
non-e:ietence of a default or any other deCenee of Borrower to aceeleration and torecloaure. lt the breach is not cured on or
before the date specified in the notice. Lender at I.ender's optioa may declare all of the sume eecured by this Mortgage W be
immediately due and payable without further demend and may forecloee this Mortga~e by judicial proceediag. Lender ehall be
entitled to collect in such proceeding al l expensea oC torecloeure~ including, but not limited to. reasonable attorney's feea. and
coeta of documentary evidence, abat~acte and title reporte.
l9. Borrower's Right to Reinetate. Notwithetanding Lender s acceleration of the eums aecured by this Mortgage, Borrower shall have
the right to have any proceedinga begun by Lender to enforce thia Mortgage discontinued at any time prior to entry of a judgment en[otcing
thie Mortgage if: (a) E3orrower pays Lender all sums which would be then due under thie Mortgage, the Note and notea eecuring ~ture
Advances, if any, had no acceleratiun occurred; lb) Borrower curna all breachee of any other covenanta or agreementa of Borrower contained in
this Morigage; ic) Borrower pays aii rea~ouabte expensee incur:eci by I.ender in enforcing the covenanta and agreemente of Barrower
contained in thie Mortgage and in enforcing I.ender's remedies as provided in paragraph 18 hereof, including, but not limitRd to, reaeonable
uttorney's feea; and (d) Borrower takea such action ae Lender may reasonably rre~uin to seaure that the lien of this Mortgage, Lender'e interest
in the Property and Borrower'a obligation to pay the aume aecured by thie Mortgege ehall continue unimpaired. Upon euch payment and cure
by Borrower. this Mortgage and the obligationa eecured hereby ahall remain in full force and effect ae if no acceleration had occurred.
20. Aseignment of Rente; Appointment of Receiver. Aa additional eec~rity herennder, Borrower hereby aaeigna to Lenderthe renta
of the Property, provided that Borrower ahall, prio~ to acceleration under garagraph 18 hereof or abandonment of the Prope~ty, have the right
to coltect and retain euch rnnt8 ae they become due and payable.
Upon acceleration under paragraph 18 hereof or abandonment of the Property, I.ender shalt be entided to have a receiver appointed by a
rnurt to enter~upon, take posaeeaion ot and manage the Property and to collect the rents of the Property, including those past due. All renLs
collected by the receiver ahall be applied firat to paymenl of the ooste of managementof the Property and collection of renta, including, but not
limited to, receiver'a feee, premiuma on receiver e bonde and reaeonable attorney'e feee, and then to the eume eecured by thie Mortgage.l'he
receiver shall be liable to acoount only fo~ those rente actually received.
21_ FLture Advancee. Upon request by Borrower, Lender, at Lender a option within twenty yeare from the date of thie Mortgage, may
make Future Advancee to Borrower. Such ~ture Advancex, with intereet thereon, ehaq be eecured by thie Mortgage when evidenced by
promiseory notee atating that esid notes are eecured hereby. At no time ahall the principal amount of the indebtedneaa eecured by thie
Mortgage, not includin~Onm~e advanced in accordance herewith w Protect the security of thie Mortgage, exceed the original amount of the
Note plus U.S.S
`l2 Release. Upon payment of all sums secured by this Mortgage. L.ender ehell release thie Mortgage without charge to Borrower.
Borrower shali puy all coats of recordation. if any.
?3_ Attorney'8 Feee. As used in this Diort~tage and in the 1`ote, "attorney's fees" shall include attomey'a fees, if any, which may be
awarded by an appellate court.
Iti W~Thess WHF.ee.c~F. Borrower has executed this Mortgage.
5igned, aealed and delivered
in the preaence of: -
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Witness
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- Witness
STATE OF FLURIU~ . . . . . . St . Lucie . . . . . . . . . . . . . . . . . . . . . . . . . . . County ss:
I hereby certify that on this day. befure rr~e, an offi:.•rr duly authorized in the state aforesaid and in the county aforesaid ta
takeacknowledgements, personally appeared... THQMAS.C....QIJINA.d11d..F.LQREPICE.M...QUI1`IA,_hi.s.wife,.......
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . to me known to be the person(s) described in and who executed the
fore~oinq instrument and acknowledRed before me that .....the;j. ...._.. -. executed the same fo~the purpose therein
expressed. / '~
WITNESS my hand and offi 'ad,- at in th~ county and state afo~es~id this . - • • • . • - - • -!• - l- • - • ~ • • - - - • • - • • • - • day of
~~ ..C~cC_!./...•-••--._.. . 19...`.>/
`iy Commission expires: Nd+i1- A~• S~ °+ ~~ ~ V~
M(,~~,,;os E:pres No.. 16, i982
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This ~n~litument Prepared by:
Thomas H. Henson
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fiHOMAS~ ~. ~ Ql1I fVA -~m~-K
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FLORENCE M. QUINA -""R°""
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\otary Pubhc
~tipa~ r lie luu Th~, I.en.• Kvs.•~rr•d f'ur l.rndr. and Krcurd~n
521;~41
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First Federal SavinRs and I.oan
A s s o c i a t i o n ~ f Fort Pierce, Florida :t:i4~>0
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