HomeMy WebLinkAbout0981 1S. Borrowr ~qr~e~ to p~rfon. oo~plr with r~d ~bids br e~ch ~nd ev~ry on~ of the ~tipulation~. ~qrew~t~.
conditions and ooverw~t~ in tM Credit Acces~ Lins Aqr~a~snt ~nd iR this Mortqps.
16. If ~ny ot ..ia euM of ~oney hsrein refsrced to be not pro~ptlr p~id ~f~en dus or if the tsrr of pid
Agrse~snt ~re not duly psrfor~sd. co~plied rith ~nd ~bidsd br~ the ~qqrsq~te eu¦ the~ ceaininq unpaid ehall beco~e dus
.nd p~y~ls foethwith or thsreattur at tM option of ths Lendsr.
17. This Ibrtqaqs sscures the repa~ent of cert~in eu~s ~dv~ncsd to the Borroirer under a credit ~qree~e~t. Oue to
the relatiunehip bstusen ths Borroner and Lender ~nd ths extensio~ of credit d~sed upon the psrsonal finonci~l
circu~stances of ths Borro~rsr~ the aDlig~tion sewrsd br this Mortg~ge ry not bs aesu~ed.
If all or any part of ths Prnpsrty or an intsrsst thsrsi~ is sold. tr~nafsrrsd~ or encu~bered by Borroi+sr, all
su~e eew rsd by this Mortgags shall be irsdiately dus ~nd pvyable.
18. Upon requsst by Borrorer, Lendsr~ at Lender's option xithin tr?enty years fro~ the date of this Mortg~ge, ry
.ake Futurs Adv~ncee to Borrorer. Such Future lldvances~ Mith intereat thereon, ahall be secured Dy this Mortg~ge M~en
avidencsd by pro~isaory notes atating that said notes are eewred hsreby. At no ti~e ehell the prirtcipal a~ou~t of the
indeDtednsss eecured by thia Mortgags, not including su~s advanced in accordance hsrerith to protect the aecurity of
thia Mortgsge, excsed the original a~aunt of the Note plus USs in an awount equal to SOx thereof.
19. All ~IBMt lf1 ~hif~ 14~T~~~! nntl }n thw Nnnf~y ~gttnsn~r~~ f~~oM ~hal~ ir_l~~r~~ s~~nr~'r~o f~a~ ff gr2Y~ }d~i.rJ,~ 1~
awarded by an appellate court.
20. Borrower ehall faithfully and f~lly co~ply Mith and ebide by every ter~~ covenant end condition of any superior
~ortgage or ~ortgagea prese~tly encu~berinq the ~ortgaged Property. A default or delinquency under any euperior
wortoege or ~ortgec~ea ehall auta~aticallY and irediatelY conetitute e defeult uruier thia MortQa~e. Lender is exprsasly
authorized at ita option to advance all au~e neceseary to keep any auperior ~ortgs or ~ortgeges in good atanding, and
all au~s ao advanced~ together with iotereat et the rate of eightee+~ percent (18x~ per annu~~ ehall be aub,ject to the
provisions of paregreph 21 of thia Mortgage. Borrower agrees not to ~ake any agree~e~t with the holder of any aupsrior
+eoctgage that in any ray shall wdify, change, alter or extend any of the ter~e or conditions of that euperior ~ortgage,
nor ahall Borrower request or accept any future advances under that euperior ~ortgege, withaut the expreas written
conaent of Lendei.
21. If Borrower feils to par eny charges or abligation required to be peid by Borro++er by thia Nortgage Mithin the
tiwe set forth for that papae~t~ Lender ehall have the right to pay the charge or obligation Mithout ?reiving or affect-
ing the option of Lender to oonaider thia Mortgege in default pureuant to the provieione of this Mortgege. Every
paysent so ~ede ehall bear intereat f*o~ the date of pey~e~t et the rate of eightee~ percent (18X) per ennu~. Every
peysent ahall be dee~ed additionel ~one.ye ored by Borrower to Lender~ ehall De payable on de~and of Lender and ahall be
secured br the lien of thie Mortgage.
22. Upon acceleration under paragraph 14 hereof or abenda~ent of the Prnperty, Lender shall be antitled to have a
receiver appointed by a caurt to enter upon, take possesaion of and ~anage the Property end to collect the rents of the
Property. All re~ts collected by the receiver ehell be epplied firat to pey~ent of the casts of aenege~ent of the
Property and collection of renta, including, but not li~ited to, raceiver'e fees. pre~iu~s on receiver's boode and
reasonable ettorneys' fees, and then to the su~s secuced by this Mortgaga. TM receivar ahall be liable to ~count only
for those rente actually received.
~ REDUEST FOR NOTICE ff OEFAI~T
AI~D FORECL0511RE UI~DER SUPERIOR
l~ORTGAGE OR OEEU OF TRUST
Borroaer end Lender requeat the holder of anr ~ortgege, deed of truat or other encu~brance Mith a lien ?rhich haa
priority over this Mortgage to give Notice to Lender, at Lender'e addreas set forth on pege ane of this Mortgege, of any
default under the superior encu~brance and of eny sale or other foreclosure action.
i
~ IN MITNESS I~fEREOF, Borro?+er has executed this Mortgege.
~ Signed~ sealed and delivered -
~ in ~e preaence of: „ ~
~~_-f' ~~~~iLG~L->L( .~~~=,r+1 ~ d, • (Seal)
~ b ~ Willi L. Staley BorroMer
~
~ ! . .~t~~ ~ ~ P~~~~~ r ~
~ Betty J. Sta ey Borrorrer
STATE ff FLORIDA )
)SS:
COUNTY ~ St. Lucie ) -
~ I hereby certify that an thia day, before ~e~ en officer duly authorized in the state eforeeaid end in the caunty
~ aforeaaid to tske acknowledgeoents, pereonally appeared William L. Stalev and Betty J. Staley. his wife
.
to ~e knoMn o be the person a deacribed in and aho executed he oregoing na ru~ent end ackrwu ed ore ~e thet
} they executed the sase for the purpoee therein expreeaed. ,
Y
~ MITPESS ry hand and officiel aeal in the county and atate aforesaid thie 7 day of ~gps
~ 19 83 ~ .
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= ~:%i ~~y Pub1~C, ~ta;e Of ~tcrida At Large ~ - , j'. ~ ,
~ 1Ay COmmission Expnes Sept 28, 1486 otery Pub ic, State ;E~er ~
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