HomeMy WebLinkAbout297818. Acceleration; Remedies. lsxcept aa provided ie puraQreph I? hereot. upo.A Borrower'~ breaoh ot a~y ooveaant or
wgreement of Borrower in thie Mortga~e. including the covenunta W pay wl~en due an,y saw~~ecured bp tbja Mort~a~e. Leader
prior to acceleratiun ahsll maii nutice to Borrower as prnvided in pare~raph 14 bereof ~pecifyia~: ( l l the breach; (2) the aMlon
required to cure auch breach; (3) e dste. not lese than 30 day~ from the date the aotlce i~ malled b 8orwwer. by which such
breach muat be cured: and (4) that failure to cure euch breach on or betore the date ~pecitied in the notioe mwy result in
scceleration of the eums xecured by this Mort~ege. torecloeure by judlcial proceedin~ aad ~ale o[the Pwperty. Tbe aotice shall
further intorm Borrower of the right to reinatate aRer acceleratioa and the ri~ht to e~aert ia the [oreclasure proceedla~ the
non-ezietence of a detault ur any other detenee ot Borrower to acceleration and toreclo~ure. If the breach is not cured on or
t-efore the date specitied in the ~otice. Le~der et l.ende~'. optio~ may declare all otthe ~uau secured by thie Mort~a~e to be
immediately due and payable without further demand and may tor~:loee thio Mort~u~e by judicial proceedin~. Lender ehall be
e~titled to collect in such proceeding all expenees of foreclosure. includi~g, but not limlted to. reaeoneble attorney'e tees. and
~~ste of documentary Pvidence. abetracta and title reports.
19. Borrower's Right to Reinstate. Notwithetanding Lender's acceleration of the sume secured by thie Mortgage, Borrower shaU have
the right to have any pra-eedinge begun by l.ender to enforce this Mortgage diacontinued at any time prior to entry of a judgment e~forcing
this Mortgage if: (a) Borrower pays l.ender all suma which would be then due under this Mortgege. the Note and notes eecuring ~ture
Advancee, if any, had no aMeleration occurred; lb) Borrower cutea a11 breaches of any other covenants or egtcemente of Borrower conlained in
thie Mortgage; (c) Borrower paya all masouable expeneee incurred by I.ende~ in enforcing the covenanta and agreements of Borrower
c.,ntained in thie Mortgage end in enforcing I.ender'e rnmedies as provided in paragraph 18 hereof, inciuding, but not limited to, reasoneble
uttorney's feea; and 1d) Borrower takea auch action as L.ender may reaeonably require to assure that the lien of this Mortgage, Le~der's intere~t
in the Property and Borrower's obligation to pay the aume eecured by this Mortgage shall co~tinue ur-impaired. Upon such pavment and cure
by F3orrower, thie Mortgage and the obligations eecured hereby ahell remain in full force and eftect eB it no acceleratinn had occurred.
20. Aeeignment of Rents; Appointment o! Receiver. As additional eecurity hemunder, Borrower hereby assigns tn Lender the renta
ot the Property, provided that Borrower ahall, prior to acceleration urtder paregraph 1 R hereof or abandonment of the Property. have the right
to collect and retain auch rente as they become due and payable.
Upon acceleration under peragraph 18 hereof or abandonment of the Property, l.ender ahall be entiUed to have a receiver appointed by a
court to enter upon, txke poeaesaion of and manage the Property and to coltect the renta of the Property. including those past due. AU renta
collcrted by the receiver ahall be applied firet to payment of the ooeta of management of the Property and oollection of nnts, including, but not
limited io, receiver's fees, premiums on receiver'a bonda and reaaonable attorney e feea, and then to the aume secured by this Mortgage.'I~e
receiver ahall be liable to acoount only for thoee rente actually received.
Yl. ~ture Advancea. Upon request by Borrower, Lender, at Lender a option within twenty years from the date of this Mortgage, may
make Future Advancea w Borrower. Such Future Advancea, with interest thereon, ahall be eecured by thie Mortgage when evidenced by
promieaory notee atating that said notea are secured he~eby. At no time shall the principal amount of the indebtednesa eecured by thia
1lortgage, not including aume advaq~Q~¢ in accordance herewith to protect the ~ecurity otthis Mortgage, exceed the original amount of the
1~ote plue U_S.S IVVnt _
22 Releaee. Upon payment of ail auma secured by this MoRgage, Lender ahail release this Mortgage without charge to Borrower.
tiurtower shall pay all costa of recordation. if any.
23. AtWrney'e Feee. As uard in this Mortgage and in the Note. "attorney's feea" ehall include attorney's fees, if any, which may be
awarded by an appellate court.
!ti W~T:~ES.S WHERF.oF. Iiorrower has executed this Mortguge.
~igned, aealed and delivered
in tbe preaence of:
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1 Witness
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~ Witness
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i~17~!~Gf,~ ~ .i'?7."7.~:~~ ! . . . . . . . . . (Seal)
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ROBE RT L. SMI TH -~rn~wK
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CY~flIA A. SMITH -"°`^"`K
STnTe~~FFt.c~R~n~........ $t.•..~U~?~ ........................ Countyss:
I hereb5 certify that on this day, before rr~e, an officer dul~• :authorized in the statr aforesaid and in thecounty aforesaid to
take acknowledKements, personally appeared . . .RObel^.t _ L.. . S~oi th . and. .Cyntb.i.a. A. . Stlll'.th,. .bis . wife, . . .. . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . to me known to be the personls) deacribed in and who executed tke
foreRoin~ instrument and acknowledKed before me that ...thPy. ..._....... executed the same for he purpose therein
expressed.
W ITNESS my hand and offjcial sea~l ~~ the county and state aforesaid this . ."_ _ . . . . . . ~ ~ . . . . . . . . . . . . . . . . . . day of
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This Instrument Prepared hy: ~9~1 r~~ '2 at J~t
cl: ~ C . y- c: ::;:i ::: ~
hlary Platt ;_~r`~ rcu~. ~•F-~%•
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First Federal SavinKs and I.oan - -- ~ ~ ~ . ~. '• ~C~.~= ~ ~
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Association of Fort I'ierce, F lorida :i:t4:~(- 4~"
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