HomeMy WebLinkAbout28991& Acceleration; Remedie~. BYCept ~ provided tA pua~raph 17 heno~ upoA BorroMrer'~ bre~ch ot ta~r oovea~nt ot
aarcemeat ot 8orrower Ia thb Mort~~e, includins tbe oovsn~nt~ to pqr wrhea due ~a~- am~ ~ec~tred by thi~ Mort~~e. Leadee
pcior to soceleratine shall mall aotloe to Bon~owec u provided in puaRRpb 14 hereof ~psdtyias: (1) the breacb; (Z) the ~ctios
required to cure ~uch breach; (3) w date. aot le~s tbsn 30 d~y~ A~om the date the tatica b m~lled b Borrower. bp wrhk6 wcb
bre~cb mwt be cured; aad (4) tb~t fwAure to cure such breacb on or betors the date ~peclAed in the notios mq rewlt in
aooeteratioa of the suau secured by thL Mort~~e. ioreclo~ure by judicid prooeedias ~nd ~aleoithe Prope~t,jr.The aotioe ~6a11
(Wrther in[orm Borrowar o! the ri~ht to reiastate aiter aooeteratioa a~nd tbe ri~ht to iwsrt ia the toreclwure proosedlo~ the
noa-e:i~tence ot ~ detwult or any other defense of 8orrower to woceler~doa sad foreclo~we. I[ the breach L not cured on oe
before the date ~peclAed in the notice. Leader ~t Lender'~ optioa may declare aU ot the ~um~ ~ecured by tbL Mort~ate b bs
immediately due aad pq~rsble without turther demand and mq- torecloss t6L Yort~s~e by judlclal prooeedin~. I.ender ~b~ll be
entitled to oollect ia such pra.~eedfn~ all e:pen~es ot foreclwun, iacludia~. but aot limited to. ee~uoasble attorney'~ tae~, wd
coets ot documentary evideace. abetracta and tltle reports.
19. Borrower's Risht to Reltutate. Notwithstanding Leader'~ aooeleration of the sum~ ~scured by thi~ Mort~aQe. Borrower shall hsve
the right to have any proceedings begun by Leader to entoros thi~ Matgaee diaoontinued at eny time p~ior b entry of a jud~tnent enforrin~
this Mort~aQe if: (s) Borrower pqy~ Leader all ~umg which would be then due nnder this Mort~a~e. We Note aad aotes ~ecurin~ P1~ture
Advanoe~. if any. had ao aoceleration occurred: (b) Borrower cures all breaches of any other ooveaantr or aseeementa of Borrower oontaiaed in
this Mortgage; (c) Borrower pay~ sll nasonable espenses incurred by Lender in enforcinQ the caveaanb and a~reemeab oi Borrower
aoatained in this Mortgage and in enforcing Lender's remedies as provided in paragraph 18 hereof, utcluding, but not limited to. reasonabls
atlomey's fees; and (d) Bore~ower takes such action as I.ender aaay reasonably req~iee to awure that the liea of this Mortgage, Lendet'~ iatere~t
in the Property and Borrower's obligation to pay the sums secured by thi,s Mortgage shaU continue unimpaired. Upoa ~uch paymeAt aad cure
by Borrower. thia Mortgage and the obligatio~s secured hereby shall remain in fiill foroe and effect u if no acceleratioa hed oecurred.
20 As.i~nment ot Rents; Appofntmeat of Reoeiver. As additional security heeeuader. Borrower hereby wigns to Lender the renta
of the Property. pmvided that Borrower shall, prior to acceleration under paragraph 18 hereof or abandonm~t of the Proparty, have !he right
to coUeet and retain such nnts as they become due and payable.
Upon aooeleration uader paragraph 18 hezeof or abandonment of the Property. I.ender ahall be eAtided to have a receiva appointed by a
oourt to enter~upon. take posseeaion of and manage the Propetty and to collect the rent~ of the Prope~rty. including Wwe pad due. All re~ls
oollected by the rectiver shall be applied first to payment of the oosta of management of th4 Proprrty and oollectioa of rwta, includin~. bat not
limited to. receiver's fees. preaniums on receiver's bonds and reasonable attorney's feer. aad then to the aums ~ecnred by thi~ Mortgage.'ILe
receiver shall be liable to aooount only for thaee nnta actually reoeived.
21. I~ture Advance~. Upon requeat by Borrower. I.ender, at Lender's option within twenty years from the date otthis Mortgage, may
make I~hu~e Advaaoes to Borrowa. 3uch I~t~ue Advancea. with interest th~eon. shall be~ecnred by this Mortgage when evid~oed by
promiesory notes stating that said notes are s~cured henby. At no time shall the principal a~nounL of the indebtedne~s secured by this
Mortgage. not including eums advanced in accordance herewith to prot~ect the security of this Mortgage. e:oeed the originai emount of the
Note plus U.S.i ~A~iB
22. Release. Upon payment of all aums secured by this Mortgage. I.ender ahall release this Mortgage without charge to Bo:rower.
Borrower shall pay all coeta of recordation, if any.
23. Attorney's Fees. As used in this Mottgage and in the Note. "attorney's ices" shall include attomey's fees. if any, which may be
awarded by an appellate court.
IN WITNESS WHEREOF, Borrower has executed this Mortgage. .
Signed. eealed and delivered
in the preaence of:
~.,J. ~~"'.~° . . . R- : . .ld~~`. . . . . . .
. ~4~x.~~. . ~...~ : . ~ . . . . . . . . . . . . . . . . .
- - - ~~!c• r• •'f'`.'~. /! :~.•. :~~'~If~~s~'G~l'~`~. . . . - - - . . (Seal)
~ Witne~~ J OHN H. K. MASTE RSON -B«*~-~
. . . .~ . . ~~~ ;~;~Gt~. . .~d~`+. . !~. . . . . . . . . cseal)
Witnesa KATHRY T. MASTERSON -""'°"°
STATE OFFLORID/~ . . . . .~~.•. .~.u~~Q . . . .. . . . . . . . . . . . . . . . . . . . . . . . COUIIty SS:
I hereby certify that on this day, before rrie. an officer duly suthorized in the atate aforesaid and in the oounty aforesaid to
take acknowledgements. pereonally appeared . . . . . . . ~]OhJ1 • kl.. K. . Master~s.oq• .and -Kathr•yn~ -T.• •Master•son, • #~i ~- wi fe,
, j,~: ,,,,..,,M : t .,j,~„t , to me known to be the peraon(e) deacribed in and who e:ecuted the ~
_ ~ti,.
foregoing?~p~m~t. and p~knowledged before me that ... thP.~y. ........... executed the same for the purpose therein
~.~,..
: ~~ I x d an official seal in the county and atate aforesaid thie . . . . . . . ~ . . . . . . . . . . . . . . . . . . . . . . . . day of
,--`' „ . . ...............•-•-... , 19.~/...
,~•' ' ~
. od e~cpires: '.
• t~ ,~ _,. kUT AHY Pt:B' ~. :; =f . . '- - . . . . . . . . .~Q:!J~-4~r. _ ~... ~~~.4.`~.~s.~..I: M~ . . . . . . . . . . . . .
s' h1Y COhiMiS$ION EXPIRES aUG. 12 ~1`ss; ' Notan blic
` OOFIDED TNqpUGM MURt'i$Ip-A$1{Tp~ IN~. ,
lSpatt Flrkxa~ Th~x /.~n~ Rtsrrnrd Eor /.ender und Rtm-dts/
Thia lnstrument Prepared by: IgBI FE ~ 19 F:~ ~~ a
Thomas H. Henson Ftt t f~~C ~: ~~~r0~ n
SL~~~~E ~cu~~~r.ita.
RGGER f•Csl;~r5
Firet Federal Savings and Loan ~;~q,1 Ct~.CUit *_~~'i
Asaociation of Fort Pierce, Florida 33450 -• ~~. _
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: g~~x 348 Pd~E 2897
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