HomeMy WebLinkAbout0992 20 Tna~ Mon9agor wdl n~t psrm~t ~ny otha I~~~s ~o b~ hi~d ~pa~nst th~ sa~d p~~m~s~s ~nd ~ny suc~ I~ens are hlsd who~her psramount or subor
~.,~e ~o ~n~s mo~tpa9s. Morlfl~gOr w~ll hav or cws~ to b~ h~d sa~d I~~ns d~scMrp~d ~mmed~~lNy
2 1 Mottgagee shail nav~ thc r~pht to ch~rpe Mo~tpaflor s accoun~ w~th Mortp~pe~ 1or ~h~ ~nter~st snd pr~nc~pal paysDte as p~owded ~n the prom~ssory
,.,ia as suth becomss dw ~n accOrds~ce 1Asr~w~th
~2 11 the Morty~aflea raqu~sts. Mortp~por h~r~by cov~nants snd apre~s tha~ Mor~pspor w~ll (urn~sA th~ Mortgagee annually (rom Ihe dste o1 th~s
„o~~gags ~natrumsnt. unless som~ oth~r dat~ ~s ~QrsM to b~tw~~n !h~ part~~s in wnun9. ~ eeri~fe~d aud~~ed I~na~e~a1 st~tement ol the Mortpsqor a~~ ~n~usl
:c,~n~iate operaung suterresnts ol Mortp~po~ If th~ Moitq~por's I~u~i or c~l~ndar y~~r shall not canc~de w~th tM dat~ here~n sp~c~f~ed. then the dsie wh~ch
~r~e Mortgagee s~all spsc~ly shsll pe cOnlroti~n9 Mortp~por sh~ll supply MOr1p~Qe! w~lh iuth ot~er I~n~nusl St~t~menls is Mo~tpapee m~y (rom I~me to time
equest
23 it ~s ay~esd that noth~nq hsr~~n cont~~ned nor any trans~cl~on r~latsd t~er~to s~a11 b~ conitru~d a so operat~ ss to reQu~re the Mortqa9or to psy
~~~erest at ~ rats yreatsr than ~t is now lawful ~n such casa to contr~Ct for. or to mike any paym~nt a to do ~ny act Contr~ry to Isw. t~at ~f s~y tl~usts or
;rov~s~ons hera~n conu~n~d operate or would protp~tUWty Op~~~q to mval~datt thts Mwtpay~ a sa~d Not~ ~n whole or ~n part. then. such ct~uses s~d
~~o~~s~ans only shall be held for naup~i. as thouflh not h~re~n cont~~n~d. a~?d th~ r~ms~nde? ol th~t Mo?tp~p~ sl+all remam optrat~ve snd ~n full lorce snd ~fl~ct
20 II sll or sny part ol the mOrtpaq~d prop~rty sfiaU b~ d~m~psd or lak~n ihrouy~ cond~mn~t~on (wh~th term wMn used m th~s monpaqe shmll ~n-
_iude sny damage or tsk~np by ~ny Qov~rnm~nt~l ~utl~onty. ~nd sny t~anlffr py pnvat~ sal~ m I~~u tMreo(). ~~tMr t~mpor~nfy or perm~nently. IM entue in•
~eb~edness sscursd hsrsDy shail st th~ opuon of tM Mortp~pe~, b~com~ rmm~d~u~l~r clu~ and pay~bl~ TM Mony~pN shsU b~ ent~tl~d to all compens~aon
3wards. and o~her pavments a nl~~( tMr~tw and ~s h~r~Dy au~hor~:~d. ~t its opaon. to comm~ncs, appeu ~n ~nd prosacutt. ~n ~ts own o~ tM monpapor's
~~ame. any atUOn or Drots~d~n9 r~launy to any tond~mnatron. and to ~ttlt o~ COmprom~s~ •ny claim ~n ConMCtwn th~rewnh A!~ such camp~nsatwn.
3wards. d~ma9es. cls~mf. n9hts ol attwn ~nd ptOt~~dt ~nd ttN n9ht lh~r~to ~t~ horfby ass~pMd by th~ MOrtyapM to t1?~ IldOrtyap~~. who. ~Ite~ oaduct~ny
~r,ereirom atl ~ts ~:psnses. ~nelud~np ittOlMy t fNf. m~y rsl~a~ any mon~yf ~o r~t~w~d by ~t wnhout aH~Ct~np thi lien of t~~s mortqa~ o? may aDD~Y «
same ~n suCA ms~ner ss th~ MortQa~~ shali d~t~rmin~. to tM r~duttw~ ol tlw wms Ncur~d A~r~by, and t0 any pt~piymint C1?arp~ Mr~m prOV~ded. ~nd sny
baiance ol such moneys then rema~ning shali b~ Da~d to th~ Mortqaqor TM MOttq~Qor ap:e~s to axecua such further sss~~r ments of any comp~nsrtwns.
awafds. dam~ges. cls~ms. nghts of acuo~ and procesds as th~ Monfla~e m~y rpuire.
25 Th~s mortgaye shal~ Ds construsd as s sscunty ~9rs~m~nt und~? the Flw~d~ Un~torm Commu~~al Code
~6 Other prows~ons In the event this mortgage is junior and inferior to ~ny other mortgage and/or
lien on the above-described real property, and this mortgage is given with full knowledge of
auch superior mortgage and/or lien, that said superior mortgage and/or lien will be paid by
mortgagor in accordance with the terms and conditions thereof without regard to any grace period
as contained therein and failure to make said payment will constitute an automatic default in
this mortgage and the whole of said principal sum secured hereby shall immediately become due and
payable at the option of the mortgagee. Additionally, the default in the performance of any of
the terms, provisions, covenants, or agr~ements contained in any superior mortgage and/or lien,
or the commencement of any action to foreclose any said superior mortgage and/o;. lien, shall
canstitute an automatic default in this mortgage and the whole of said principal sum secured
hereby shall immediately become due and payable at the option af the mortgagee.
IN WITNESS WFlEREOF, the Mort9agor has executed thase presents under seal the day md year first above written.
THIS IS A BALIAON MORTGAGE AND THE FINAL PAYMENT OR THE BALANCE
S~gned, sealed snd delivered in the presena of: DUE UPON MATURITY IS $10,000.00, TOGE'THER WITH ACCRUID INfEREST,
~ ~ IF ANY, AND ALL ADVANCEMENrS MADE BY THE *fORTGAGEE UNDER THE
C'1 E TE OF THIS MORTG ~ -
~ l~ ~ ISeal!
Step Smit ~ e ..,~.wR.
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----,xl _I~~`}~.~i ~ ~lyfis~-C~=~-- -u--t-~_"
` lSc•al)
Donna L. Smith R~~~•~~w~~
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INDIVIDUAL ACKNOWLEDGEMENT
FLORIDA
~ STATE OF 1
: ss
~ ST. LUCIE
~ COUNTY OF ?
~
~ 16th September
~ The foregoing insvument was acknow(edged before me tt?is dsy of ,
~ ~g 85 , by STEPHEN H. SMITH ~d BONNA L. SMITH, his ,~~f~er~s:~ .
~ ~'~%TE:Y n'vptj!' $•'AiE t!F ~._~^,i.?~~ '
h1y Commission expires: fy', c x=, v . '
~ _ , . 5., I ~'.t F _ _ + , _ ~~i~~~ { c
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T:,:,,a ! NOTARY PUBUC st~'~ 1.
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CORPORATE ACKNOWLEDGEMENT
STATE OF 1
~ : u
COUNTY OF 1
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~ The foregoing instrument was acknowled~ed befwe me this day of ,
x
~ ' 9 , by and ,
~
~ ~espectivelY Secret~ry of
~ . , - • • oorporstion, on beh~lf
~
of said ca.
~?K 477 9~0
'.!y Commis RO~K P~GE
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