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• MORTGAGE RIDER
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THIS MORTGAGE RIDER is incQrpo~ t~ intothat~e~ in mortgage entered into by
AAtd W. !lARTIN Pl1~D LII~A B. !!~N , BIS WIFS
A1~D FIItbT FIDg[1TY AI~D ' ~
The following are additional covenants under the above referenced mongage:
24. If toreclosure proceedings of any second mortgage or second trust deed or any junior lien of any
kind should be instituted, the Association may at its option, immediately or thereafter declare this
. mortgage and the indebtedness secured hereby due and payable.
25. To the extent of the indebtedness of the Mortgagors to the Association described herein o~ secured
hereby, the Association is hereby subrogated to the lien or liens and to the rights oi the owners
and holders thereof of each and every mortgage, lien orotherencumbrance on the land described
herein or secured hereby, and the respective liens oi said mortgages, liens or other enc~mbrances
shall pass to and be held by the Association herein as securiry for the indebtedness to the Asso- -
ciation herein described or hereby secured, to 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, transferred, set over and delivered unto theAssociation byseparate deed ofassignment,
notwithstanding the iact 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 oi record by the holders
thereof at~or about the time of the recording of this mongage.
26. That in the event that this mortgage be given to secure a construction loan, failure on the part of
the Mortgagors or their contractors to complete said building in accordance with Construction
Loan Agreement, of even date herewith, or to build said constn~ction in accordance with plans `
and specifications filed with the Association, shall constitute a breach of this mortgage, and, at the
option of the Association, immediately mature 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 above
shall become null and void. ~
IN WITNESS WHEREOF, Borrower has executed this Mortgage Rider this 2~ day of
F~m1ar , 19_~.
Signed, sealed and delivered
in tne sence of: ~
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L1AN W
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j LII~A E.
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~ STATE OF FLORIDA, . ,
County ss: ~
I hereby certify that on this day, before me, an ofiicer duly authorized in the state aforesaid and in the ~
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~ counry aforesaid to take acknowledgements, personally appeared ~
E L1AN W. !~lARI'IN AI~D LII~A E. MARTIN , HIS WIFE
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~ , to me known to be the
; person(s) described in and
; who executedthe foregoing instrument and acknowledged before me that BoROwer executed the same ~
~ for the~purppse therein expressed. ~
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! ~~'~VYITNfSS my hand and official seal in the county and state aforesaid this 2~
~ •~a~.of~ ~B~1AIi7C~ 19~ . rJ:37pvv
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~ - ~My!c~rnmission expires: 198~ ~AR I 1
€ ~~IARY %1~K Sil?iE Qi hIORtDA A1 Lf~R ~ ~ ~ ~ ~
~ . ~ ~AY COMMISSION EitDii~ES t30V 19 1985 ~ ' ;i ' " ~ "
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