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MORTGAGE RIDER
THIS MORTGAGE RIDER +s ~ncorporated ~nio that certa~n mortgage entered ~nto by
CAk~ F'F_1TZ F~hI+ F'HYi i.1S :'E732. ~I~ ~i:f~
and FIRST FEDERAL SAYlNGS ANO LOAN ASSOClAT10N OF MARTIN COUNTIf_
The toliowing afe addit~onal cov~enanu unaer tije abo+re reterenced rr~ortgag~
24. N foreclosure proceed~ngs o~ any second mori~aqe or second trust deed or any jun~or i~en of any
k~nd should be insUtuted, ihe Assoaat+on may at ds opta~, ~mrr~ed~ate~y or the~eafter dec~are th~s
mortgage and the indebiedness secufed heretr~r due and paYab~~
25. To the exient of the indebledness of the Mtxtgagors to theAssoc~tion descnbed herein or secured
hereby, the Assoc~at~on ~s here~y sub~ogaied to ~e t~en or irens and to the nghts of the owners
and hotders thereof of each and e+rery rr~ortgage_ ~~en or ott~+er encumbra:ice on tt~ land descnbed
here~n w secured hereby, and it~e nespecLn+e i+~er~s ot sa~d rr~o~tgages_ I~s or o~ere~umbrances
shall pass to and be heki by ihe Assocaai~on hese+n as securrty for the ~nd~t~tedness to the Asso-
ciation he~ein described or t~ereby secured to t~e same ext~nt that ~t wouid tw~re been preserved
and would have been passed ~ ar~d bee~ he~d b~r t~e Assocrateoe~ had ~t been duly and regula~iy
assigned, transfeRed, set ove4 and dea+v~ered ur3totheAssoc~atwn byseparate deed af ass~gnmen~
notw~thstanding ihe fact that the same may be sat~sf~ed and cancelied of record ~t be~ng tt~e ~nten-
tion of the part~es hereto thai the same ywlf be sahsf~ed and cancelted of record by the hoiders
thereof at or about the t~me o1 tt~e ~eco~ci,r~g d th,s mortgage.
26. That ~n the event that th~s mortgage be g~ b secure a const~uctron loan. fa~lure on the part of
the Mo~tgagors or then contractors lo c.anp~ete sa~d bu~+d~r.t~ ~n accordance vr~th Construction
Loan Agreement, of even date here~r+tR or to Ou+id sa~d co~utre~ct~o!~ ~n accordance w~th plans
and specrf~cat~ons filed ~a~ih the Assocaai~on sha~~ consUtute a breach of th~s mortgage. and at the
option of the Assoaat~on. ~mrnedbtety rnai~xe the en~s~e acr,c,unt ot pnncepa! and interest hereby
secured and the Assoaatwn may ~mmed3aie~r +nst+iLte ~oce~ed+ngs to foreclose thrs mortgage.
In the event this mortgage is purchaseo by a m.~d pBrty_ tlhese ada-t~orta~ cove~ants rtee~Uar-ed above
shall become null and vo~d.
IN WITNESS WHEREOF, BoROwe~ has execvted ttsss ~l~rtga~e R~der tt~,s °7 ~~ ~ day of
~~~xt~~ ., s~ I~f E~ 1 I P~ 2 13
Signed, seated and del,vered
in the presence ofi
,u ~1~Z
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~..~/l~UL /~GC/,~/X.~
516631
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STATE OF A'~i JERSEv ~ Coc~ty ss: =ergen
9i~kTf~Fftf~Rt~A. CQUnty Ss-
I hereby cert~fy that on th~s day. before me_ an r~f; rzer ~v:y au:~zed tn tize siate aforesa~ and m the
cou~ty aforesaid to take acknow~edgemenis. persar~,~;y a~arEd
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{-' %~ 1 C t_ _ .- i . 1 ~ ~ , ri ~ _ +y _ F
to ~e ~c~n to be t~e perso~ts) descnbed ~n and
who executed the foregv,r~g mst~ument a~ acks~w~e~ged befoce rrte t!~at Borrow~er executed the same
for the purpose therem expressed.
~iJi~
WITNESS my hand and offfc~ai seai ,n itae cu;,r..y ar~d ;;ate ata~esa~d t!~~s
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