HomeMy WebLinkAbout0969 MORTGAGE RIDER
~
THIS MORTGAGE RIDER is incorporated into that certa~n mortgage entered ~nto by I
CFiARI.FS A. F~NS'I' JR. A MARRIID MAN
A1~ID FIRST FIDELIT'Y SAVINGS AAID L~L1AN AS90CIATION
The foliowing are additional covenants under the above referenced mortgage: ~
24. If foreclosure proceedings of any second mortgage or second trust deed or any junsor lien of any ~
kind should be instituted, the Association may at its aption, immediately or thereafter declare this
mortgage and the indebtedness secured hereby due and payable.
25. Ta the extent of the indebtedness ot the Mortgagors to the Association described herein orseci~red
h~reby, the Association is hereby subrogated to the lien or liens and to the rights ot the owners
and holders thereof ot each and every mortgage, lien or other encumbrance on the land described
herein or secured hereby, a~d the respective liens of said mortgages, liens or other encumbrances
shall pass to and be heid by the Association herein as security for the indebtedness to the Asso-
ciation herein described or hereby secured, to the same extent that it woutd have been preserved
and would have been passed to and been held by the Association had it been duly and regulariy
assigned, transferred, set over and delivered unto the Association by separate deed of assignment,
notwithstanding the fact that the same may be satisfied and cancelled of record, it being the interr
tion oi the parties hereto that the same w+ll be satist+ed and cancelled of record by the holders
thereof ai 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 ihe part of
the Mortgagors or their contractors to comptete said building in accordance with Construct~on
Loan Agreement, of even date herewith, or to build said construction in accordance with plans
and specilications filed with the Association, shall const~tute 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 toreclose this mortgage.
In the event this mortqage is purchased by a third party, these additional covenants mentioned above
shall become null and void.
IN WITNESS WHEREOF. Borrower has executed ihis Mortgage Rider this • y%~~ day of
_ APRIL .19 83
Signed, sealed and del~vered
~n the presence of: ~
~
, .
• ~ `ti~ ~ .'w1 _ ~ J (Sea~)
f-- ~
C~~ARI.E'S A . ERAIST JR .
' ~~'`i ~ ~<</ ~~28C ~ (Seal}
196~ l;F!~ 2 I Pn 3~ ~
i~ lSeaq
60~49'7 . . . ^
- - SSeaq
STATE OF p~~SYLVANIA l- d t~ Couniy ss: •
! hereby certify thai on this day, before me. an ofticer dG?y au;horized in the siate afor~said and the
county aforesa~d to take acknowledgemenis. personally appeared
CHARLF~ A. II~NST JR . A MARRI F~ MAIv
, to me known ta be the persor~(s? descnbed ~n and
who executed the fo;egoing instr~~men; ari~, ackncwledged before me tha! Borrower executed She same
fc~ the purpose there~n expressed.
WlTNESS my hand and otf~c~a1 seal ~n the county and state aforesa~d this
day of t'~'RIL _ ~ g $3_
' My Comm~ss~on exp~res:
~ Tt~:a ~~n .i c_: ts:. , - ;
' NrM ^ , _ ' ' ,
ry ~ . • '~J ~~t ~ i~- ' . .
-
~ • ~ Otary P~b+~C
~ ~ S2~~i •
~ i. -
~ . ~
grp~~C PaUt
A-30~ A h. ?9
~"~h .a~,-. -ur:ra~L'_v,~ .s:!~ ~ z'-,...s-,.. -f.-~.-c~;~