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. ~ DOCUMEhTARY . ~TAMF ;AX ;
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DEPT O~~ REYfNUE;"::'" '
M ,i: = F,;~ - AUG28'06 ~ 1•'% 7 8 U ~
OR'TG~?GB RIDBR ~ _ s ' l
?HIS !lORTG~GB RIDBR is made this 26th day of June , ~
198b , and is incorporated into and shall be deemed to amend and supple-
ment the Mortgage, Deed of Trust or Security Deed (the "Security Instru-
ment") of the same date qiven by the undersigned (the "Borrower") to se-
cure Borrower'' s Note ( the "Note" ) ta FrRST ATLANTIC KORTGAGE CORPORATION
(the "Lender") of the same date and covering the
property described in the Secuzity Instrument and located at:
1102 SW Abbey Avenue, Port St. Lucie, Florida 33452
Property Address
1~lDDITIO1~lAI, C'OVSI~UHTS. In aaa~tion to the covenants and agreements made
in the Security Instrument, Borrower and Lender further covenant and agree
as follows:
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27. If foreclosure proceedings of any second Trust Deed or any Junior Lien ~
of any kind should be instituted, the Lender may, at its option, require '
immediately or thereafter, payment in full of all sums secured by this '
Security Instrument.
Zg. To the ~xtent of the indebtedness of the Borrower to the Lender des-
cribed herein or secured hereby, the Lender is hereby subrogated to the
lien or liens and to the rights of the owners and holders thereof o€ each
and every mortgage, lien or other encumbrance on the land described here-
in or secured hereby, and the respective liens of said mortgages, liens
or other encumbrances shal~. pass to and be held by the Lender herein as
security for th~ indebtedness to the Lender herein described or hereby "
secured, to the same extent that it would have been preserved and wouZd
have been passed to and been held by the Lender had it been duly and
regularly assigned, transferred, set over and delivered unto the Lender
by separate deed of assignment, notwithstanding the fact that the same
may be satisfied and cancelled af record, it bein~ the intention of the
parties hereto that the same will be satisfied and cancelled of record
by the holders thereof at or abaut the time of the recording of this
mortgage.
29. That in the.event that the Security Instrument be given to secure a ~
construction loan, failure on the part of the Borrower(s? or their con- ~
tractors to complete said building in accvrdance ~aith the Construction
Loan Agreement, of even date herewith, or to build said construction
in accordance with the plans and specifications filed with the Lender,
shall constitute a breach of this Security Instrument, and at the option
of the Lender, immediately mature the entire amounfi. of principal and in-
terest hereby secured and the Lender may immediately institute proceed-
ings to foreclose this Security Instrument.
BY SIGNING BELOW, Borrower accepts and agrees to the terms, provisions
and covenants conta~ned in. 's Mortgage Rider.
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28 P 2 ~O3 ^~-~-i~~ ~ ( SEAL )
~ ra • orrower
ROGE~t : - ' / ( SEAI
ST. LUC;' •
600K 5~2 PAGE Borrow~
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