HomeMy WebLinkAbout0928 V" - - i
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DUE ON FURTHER ENCUMBRANCE RIDER ~ f
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NOTICE: THIS RIDER ADDS A PROVISION TO THE SECURITY INSTRUMENT i
PROHIBITING THE BORROWER FROM FURTHER ENCUMBERING THE
PROPERTY.
This Rider is made this 22nd day of APRIL •
198 6, and is incorporated into and shall be deemed to amend `
and supplement the Mortgage, Deed of Trust, or Deed to Secured ~
Debt (the "Security Instrument") of the same date given by the j-;,
undersigned (the "Borrower") to secure Borrower's Note to
AMERICAN PIONEER SAVINGS BANK (the "Lender")
of the same ate ~the "Note ) and covering the property described ;
in the Security Instrument and located at
1843 GEMINI LANE PORT ST. LUCIE FL 3 •
(Property Address
In addition to the covenants and agre~ments made in the
Security Instrument, Borrower and Lender further covenant and
agree as follows:
A. PROHIBITI~N OF' FURTHER EN~UMBRANCE
include the followin ~
The Security Instrument is amended to g
as an additional covenant of Borrower:
24. Agreement Not to Further En~umber. As part of the i
. inducement for Lender to Make the Loan evidenced by the Note and
Mortgage, Borrower covenants and agrees not to mortgage, finance,
or otherwise further encumber any interest (either legal or
beneficial) in or any part of the Property, without the prior
written consent of the Lender. In the event any such encumbrance
is made by the Borrower, Lender, at Lender's option, may declare
all the sums secured by the Mortgage to be immediately due and
payable. If Lender exercises such option to accelerate, Lender
shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not
less than thirty (30) days from the date of that notice is mailed
within which Borrower may pay the sums declared due. If Borrower
fails to apply such sums prior to the expiration of such pe`riod,
Lender may, withoe~t further notice or demand on Borrower, invoke
any remedies permited by paragraph 18 of the Mortgage.
IN WITNESS WHEREOF, Borrower has ex ed this Rider.
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(SEAL)
Richard L. Sharp - Borrower
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(SEAL)
Vicky G. Sharp Borrower '
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'86 II~PRR 29 Ai1:43 ~
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BooK 498 Pacf 927
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