HomeMy WebLinkAbout0946 to perform, comply with and abide by each and every the agreements, stipulations, conditions and covenants
stt forth in said note and this mortgage or either. In the event the mortgagor fails to pay when due any tax,
assessment, insurance premium or other sum of money payabl~ by virtue of said note and this mortgage, or
either. the mortgagee may pay the same, without waiving or aftecting the option to foreclose or any other right
hereunder, and all such payments shall bcar interest from date thereof at the highest lawful rate then allowed
by the laws of the State of Florida.
IN TNE EVENT, the First Mortgage, if any, to which this Mortgage is suburdinate is tor any reason
declared to be in default or should such First Mortgagee begin foreclosure proceedings on said First Mortgage
for any reason, this Mortgage shall. at the option of BarclaysAmericanjMortgage, Inc., be declared to be in
default and the entire unpaid balance of the mortgage note and this Mortgage shall forthwith become due and
payable in addition to ali other covenants, promises, and conditions herein contained.
iF all or any part of the Property or an inttrest therein is sold or transferred by mortgagor without
mortgagee's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to this
Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by
devise, descent or by operation of law upon thc death of a joint tenant or (d) the grant of any leasehold interest
' of three years or less not containing an option to purchase, mortgagee may, at mortgagee s option, dcclare ali
the sums secured by this Mortgagt to be immediately due and payable. Mortgagee shall have waived such
option to accelerate if. prior to the sale or transfer, mortgagee and the person to whom the Property is ta be
sold or transferred reach agreement in writing that the credit of such person is satisfactory to mortgagee and
that the interest payable on the sums secured by this Mortgage shall be at such rate as mortgagee shalt request.
if mortgagee has waived the option to accelerate provided in this paragraph, and if mortgagor's successor in
interest has executed a written assumption agreement accepted in writing by mortgagee, mortgagee shall release
mortgagor from all obligations under this Mortgage and the Promissory Note.
IF any sum of money herein referred to be not promptly paid within thirty days next after the same
becomes due, or if each and every the agreements, stipulations, conditions and covenants of said note and this
mortgage, or either, are not fully performed. complied with and abided by, then the entire sum mentioned in ~
said note, and this mortgage, or the entire balance unpaid thereon, shall forthwith or thereafter, at the option ~
of thc mortgagee, become and be due and payable, anything in said note or herein to the contrary ~
notwithstanding. Failure by the mortgagee to exercise an~~ of the rights or options herein provided shall not ~
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constitute a waiver of any rights or options under said note or this mortgage accrued or thereaRer accruing.
lN WITNESS WHEREOF, the said mortgagor has hereunto signed and sealed these presents the da}- and
year first above written.
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Signe , sealed and red '+n t resen f:
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CIEkK URCUIT CGUR1 0
STATE OF FLORIDA, RECQ?.D\:Rlf?ED
539042
COUNTY OF Martin
1 HEREBY CERTIFY that on this da}~, before me, an ~fficer dul}• authorized in the State aforesaid and in ~
the County aforesaid to take acknowledgments, personally appeared .TAMF:S R. WAi.i.ACF.~TI
~ and RAEANtJ WALLACE, His Wife,
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~ to me to be the personS described in and w•ho executed the foregoing instrument and the~r acknow•ledged
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~ before me that the~ executed the same.
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WITNESS my hand and official seal in the County and last aforesaid this -~h d y of
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~ AUGUST _ A.D. 19 , ,
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y Cemmiss~on Exprres Ot - : ~;;`~t - :
~ Bonded Oy AUT4 OWNERS INS . ~ ` _~-J :
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~ This instrument prepared by: S . L . Hendr iCk ? ~ , • ' ~
614 Co lorado Avenue - ~~'s ~ •
` Address ~ 3.,'tdad - ,,,,,~='j~~.';'^Y _
~361 P,~ 945 ~
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