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MORTGA~GE RIDER~ ~
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THIS MORTGAGE RI~ER is incorpo~ated into that cenain mortgage entered into by -
RUHIN ROTSTEIN AND SANDI L. ROT8TEIM. NT8 WIFE
and FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF MARTIN COUNTY. .
The following are additional_covena~ts under the above referenced mortgage:
24. If fo~eclosure p~oceedings oi any second mortgage or se~ond trust deed or any junior lien of any ~
~ kind. should be instituted,lhe Association may at its option, immediately or thereafter declare this
mortgage and th~ indebtedness secured hereby due and payable. _ . ~
25. ~ To the extent of the indebtedness of the~Mortgagors to theAssociation described he~ein or secured ~
~ hereby, the Association is hereby subrogated to the lien or liens and to the rights of the owners
and hoiders thereof of each and every mongage, lien or other encumbrance on the land described
herein o~ secured he~eby. and the respective liens of said mortgages, liens or othe~encumbrances ~
shall pass to and be held by the Association herein as securiry for the indeb.tedness to the Asso- .
ciation herein described or hereby secured, io the same extent that it would have been preserved . ~
~
_ and would have been passed to and been held by the Association had it been duly and regularly
assigned, t~ansferred, set over and delive~ed unto theAssociation byseparate deed of assignment,
notwithstanding the fact that the same may be satisfied and cancelled of record. it being the inten- ,
tion of the parties hereto that the same will be satisfied~and cancelled of record by the holders
~ thereof at or about the time of the recording ot this mortgage.
26. That in~the event that this mongage be given to secure a construction loan, failure on the part of
the Mongagors or their contractors to•complete said building in accorciance with Const?uction
Loan Ag~eement, of even date hgrewith, or to build said consfruction in accordance with~ plans
and specifications filed with the Association, shatl constitute a breach of this mortgage, and, at the ~ ~
option of the Association, immediately matu~e the entire amount of principal and interest hereby ~
secured and the Association may immediately institute proceedings to foreclose this mortgage.
In the event this mortgage is purchased by a third party. these additional covenants mentioned a6ove
shall become null and void. ~ _
IN WITNESS WHEREOF, 6orrower has executed this Mortgage~Rider this ~~~n day Of
. xev , 19-.g.~: . - -
Signed, sealed and delivered _
in fhe presence of: ~ .
.
j ~ 1V ~ Seaq
~ RUBI ROTSTEIk = ~
~ ~.LQJ1 ~ (Seaq
19~~ 28 ~!l~ 26 ~S MDI L. ROTSTEIN
~ ~ (Sea~
c~;,r[~ ~N[ 4"t yuY?: S3~'141 I
St. LCf.lf. ''.CU~ t+.f i A. .
- (iCGE R PGt ; Fl.~ ' ~
c~ ~~r: ~ . ..~r.; - (SeaQ ~
STATE OF FLORIDA, ~ County ss: • ~
I hereby certify that on this day. before me, an ofiicer duly authorized in the state afor~~d~~d in the
county aforesaid to take acknowledgements, personally appeared -
RUBIN ROTSTEIN AAlD
SANDI L. ROTSTEIN, HIS WIFE
, to me known to be the person(s) described in and - '
who executed the foregoing instrument and ackriowledged before me that Borrower executed the same
for the purpose therein expressed. _ •
WITNESS my hand and official seal in the county and state aforesaid ihis 22ND '
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. ,
~ day of ~Y- , : , 19 81 . . .
My CD ~x .~~1~9/O . ~ ~
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_ ~r-' ~f . ~ ~r' . Notary Public
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