HomeMy WebLinkAbout1740lA. Acceleration; Remedies. Fscept as providcd in para~rsph 17 hereof. upon Borrowre~'~ breach ot w~- oovraant or
agreement ot Borrower i~ thia Mortgage. inctuding the covenante to pay whea due eny ~wn~ se~tred by thi~ illort~a~e. Leades
prior to accele~ation ahall mail notice to l3o~wwer ue provided in parasrapb 14 hereof specif~int: i 11 the breach; IZ) the actioa
reyuired to cure euch breach:l3) s date. not lesa than 30 daya from the date the aotice is mailed to Borrower. by whic6 ~ucb
breach muet be cured; and (4) that tailure to cwe Buch breacb on or before the date ~pecified ia the ~otioe may result in
acceleration of the eums aecured by this MortQage. foreclosure by judicial proccedlns ~nd ~ale o[the Property. The ~otice ah~-U
further inform Borrnwer ot the right to rei~etate eRer acceleratioa aad the ritht to a~acrt in the torecloeure proceedia~ the
non-c:ietence of a default or any other defrnae of Borrower to acceleration ~a~ loreclosura. ii the breach b ~ot cured oa or
before the date epeciCed in the notice. l.Pnder at I.ender's option may declare all ot We ~ua~r aecured by this Mortga~e to be
immediately due and payeble w ithout further deuland and may forecl~e this Mortga~e by judicial proceeding. Lender shall be
~>ntitled to collect in auch proceeding all expenees ottoreclosure. including. but not limited to. ~easonable attorney'slees. and
cuata of documentary evidence, abatracte nnd title reporte.
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.J. rT:,K cr'-a a~i~i~i tu .ar~us~aae. :~uiw~u-ai~ticui:K i.r~-urr b a~rr~rrauuttiuc uieeiuruxsecurreaT by iiiw irlt,tytagt, iiortuwetshaii have
tl~e right to have any proceedings begun by Lender to enforce this Mo~age discontinued at any time prior to entry of a judgment enforring
thia Mortgage iL• (a) Bornower psya Ixnder all suma which would be then due under thia Mortgage, the Note and notew securing Fliture
Advancee, if any, had no accele~aticn occwrred; ~b) Borrower cures all breachea of any other covenanea or ag~ements of Borrower contained in
this Murtgage; (c1 Borrower pays all reasoi~able expenses incurred by Lender in enforring the coveaants and agreements of Borrower
rnntained in thia Mo~age and in enforcing Lendei a remediea as provided in paragraph 18 hereof, including, but not limited to, reasonable
attorney a fees; and Id) Borrawer takea such action as Lender may reasonably require to assure that the lien of thia Mortgage, [.end~'s interest
in the Property and Borr+owei s obligation to pay the aums aecured by this Mortgage ahali cootinue unimpaired. Upon such payment and cure
by Borrower, thie Mortgage and the obligationa eecured hereby shall remain in full force and effed aa if no acceleratioa had occurred.
20. Aseignment of Rente; Appointmeat ot Receiver. As additional eecurity hereunder, Borrowrr hereby assigns to Lender the renes
uf the Property, provided that Borrowe~ ahnll, prior to ameleration under Faragraph 1 S hereof or abandonment oithe Property, have the right
to collect and retain s~lch renta as they become due and payable.
Upon acceleration under paragraph 18 hereof or nbandonment of the Property, Lender shal! be entided to have a receiver appointed by a
court to enter_upon, take possesaion of and manage the Property and to collect the rente of the Property, including thoee peat due. All tents
collected by the receiver ahall be applicd firat w payment of the rnsta of management of the Property and rnllection of rents, including, but not
limited to, receiver's feea, premiuma on receiver'e bonda and reaaonable attorney a fees, and then to the auma eecured by thi~ Mortgage.'11~e
receiver ehall be liable to acoount only for those renta actually receiveri.
21. F~tture Advancea. Upon request by Borrower, l.ender, at Lender's option within twenty years ftom the date of thie Mortgage, may
make Future Advancea to Borrower. Such Future Adcances, with interrst thereon, ehall be secured by thia Mortgage when evidenced by
promieaory notee stating that said notes are secured heceby. At no time shall the principal amount of the indebtednesa secured by thie
1lortgage, not includin sums advanced in accordance herewith to protect the security of this Mortgage, e:ceed the original amount of the
tiote plus U.S.i ~ONF
22 Releaee. Upon payment of all suma secured by this HloRgage, I.ender ahall release this Nortgage v-~thout charge to Borrower.
fi~,rrower ahall pay all coats of recordation, if any.
23. Attorney'e Fees. As used in this Mort{~age and in the tiote. "attomey's fees" shal) include attorney's feea, if any, which may be
.~w~arded by an appellate court.
l~ 1~'iT:~ES.~ Wt~ERt:c~f. Borrower has executed this Mortga~e_
tiiqned, aealed and delivered
in the presence of:
~ ,
. . . . . _ . . ` . . . .,G/ _ . `.':C-c~!j . - -
~4'itness
............ :~ .. ............... ..• --
~ V~'itness
. ~ " _ ~....
" • • ~~/ ~cu.....~•• --... _. ~!~r-• •-- (Seal)
~RAINE K. SMITH, a single adult -~~~-K
-----• .............................•--•---....ISeall
_ K~-..K
STATF.OFFL(.:x~nq_....-•- ---.St. LuCie ................... C'ountyss:
I hereby certify that o:- this da}. befure n~e, an officer duh authorized in the state aforesaid and in thecounty aforesaid to
tdke acknowledgements, personally appeared . LQRRAI N.~ . K•. . SMI TN ,. a _ s_i ngi e_ .adul t.,~ . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . U~ me known to t~e the persomsl described :n and v-ho executed the
fore~oinK instrument and acknow~l~Ked t~fore me that . . .ShQ . . . . . . . . . . . . . . executed the same for the purpuse therein
expressed. _7 ~ ~
WITNESS my hand and officyal seal in e count~• and state aforesaid this _ . . _ _ . . . / . . . . . . . . . . . . . . . . . . . . . . . da~ of
................••------...~~,,1.~: ~----...:.. ..._ , ty.:`i./..
No1a~q/ Pl~ie. State d~ia~i~ at (sp~
~'ly Commisaion e~pires: _
.:,.,~, ,., , MI- C~i~~ Eivres No.. 16. 19a2
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This Instrument Prepared by:
__ Jerry G. Litrento
First Fe~eral SavinRs and l.nan
Associati~,n of N':~rt Pierce. Florida :~::a:~(!
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