HomeMy WebLinkAbout0941 MORTGAGE RIDER
THIS MORTGAGE RIDER is incorporated into that certain mortgage entered into by
Q~ARLE'S A.II:IIST, JR. A MARRIED MAN
AI~ID FIRST FIDELITY SAVINGS AI~ LQAN A.S.90CIATION
The following are additional covenants under the above referenced mortgage:
24. If foreclosure proceedings of any second mortgage or second trust deed or any junior lien ot any
kind should be instituted,lhe Association may at its option, immediately or thereafter declare this
mortgage and the indebtedness secured hereby due and payable.
25. To the extent ot the indebtedness of the Mortgagors to the Association described herein or secured
hereby, the Association is hereby subrogated to the lien or liens and to the rights of the owne~s
and holders thereof of each and every mortgage, lien or other encumbrance on the land described
herein or secured hereby, and the respective tiens of said mortgages, tiens orotherencumbrances
shall pass to and be held by ihe Association herein as security 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 regutarly
assigned, transferred, set over and delivered unto the Association by separate deed of assignment,
notwithstanding the fact that the same may be satisfied and canceiled of record, it being the inten-
tior! of the parties hereto that the same w~11 be satisfied and cancelled of record by ihe holde~s
tf~ereof at or about the time of the recording of this mortgage.
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 buitd said construction in accordance with plans
and specifications filed with the Association, shall constitute a breach oi this mortgage, and, at the
option of the Association, immediatety mature the entire amouni of principal and interest hereby
secured and the Association may immediately institu~e proceedings to foreciose this mortgage.
fn the event this mortgage is purchased by a third party, ihese additiona! covenants mentioned above
shall become null and vo+d. 7 /fj
iN WiTNESS WHEREOF, Borrower has executed lhis Mortgage Rider this ~ / day of
APRIL ~g 83
Signed, sealed and del~vered
~n the presence of: . - - ~
" ~ ~ '
, , , ~ ~ ~ i ~l' S 1
~ _ eal}
; ~ C~ A.IItALS'I', JR.
~ 1~~,' ( ,~Juh - - 21 F~ ; r' (Seal)
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(Seaq
.
STATE OF F~~pp(/~, PENNSYLVANiA ~CL~v«,L~ County ss:
I hereby certify that on th~s day, before me. an off~cer duly author~zed ~n the state aforesaid and in the
county aforesa~d to take acknowledgeme~ts. pers~nally appeared
CHARI,FS A. F~2PIS'T, JR . A MARRI Ea MAN
, to me knovm !o be the person(s1 described ~n and
who executed the foregoing instrument and acknow!edged before me that Borrower executed the same
for the purpose therein expressed. ~
WITNESS my hand and ofi~c~at seal ~n tre county and state aforesaid this
da~~f.' ,,y APRIL . 1g 83.
. ~ .
My~om~issio~:expireg~ • T'' s:=~~
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