HomeMy WebLinkAbout0928 . '
MORTGAGE RtDER
THIS MORTGAGE RiDER is incorporated into that certain mortgage entered inio by
MANtIII, A. MA~C[iUCA AND IIaA C. MA~IUCA , HIS WIFE
and AMERIGAN PIONEER SAVINGS BANK, iormerly First Fidelity Savings and Loan Association, as
.,successor by merger with First Federal Savings and Loan Association of Martin Couniy.
The following are additional covenants under the above reterenced mortgage: .
24. li foreclosure proceedings oi any second mortgage or second trust deed or any junior lien of any
kind shoutd be instituted, the 8ank at its option, immediately or thereafter declare this mortgage
and the indebtedness secured hereby due and payable.
25. To the extent ot ihe indebtedness of the Mortgagors to the Bank described herein o~ secured '
hereby, the Bank is hereby subrogated to 1he lien or liens and to the right$ oi the owners and A i
holders thereof of each and every mortgage, lien or oiher encumb~ance on the land described
herein or secured hereby, and the respective liens of said mortgages, liens or other encumbrances '
shall pass io and be held by ihe Bank herein as security for the indebtedness to the Bank herein
described or hereby secured, to the same extent that ii would have been preserved and would ~
have been passed to and been held by the Bank had it been duly and regularly assigned, trans-
ferred, set over and delivered unto the Bank by separate ded of assignmeni notwithstanding
the fact that the same may be satisfied and cancelled of record, it being the intention ot the parties %
hersto that the same wil! be satisfied and cancelled of record by the holders thereot at or about
the time of the recording of this mortgage.
26. That in the event that ihis mortgage be given to secure a construction loan, failure on the parl oi ~
the Mortgagors or their contractors to complete said building in accordance with Construction ~
Loan Agreement, of even date herewith, or to build said construction in accordance with plans
and secifications filed with the Bank, shall constitute a breach o( ihis mortgage, and, at ihe option .
oi the Bank, immediately mature 1he enti~e amount of principal and interest hereby secured and
the Bank may immediately institute proceedings to foreclose this mortgage.
In the event this mortgage is purchased by a third party, these additional covenants menlioned above ~
shall become null and void.
IN WITNESS WHEREOF, Borrower has executed this Mortgage Rider this Z~ ~ day of
/~'~A'`~ , 19 ~ 7 .
'g~ ,~1 P ~ •13 J •
~27394
Signed, sea~ed and de?ivered FILEO AHp ktCORDEO
in ih sence of: DOUGLAS OIXOH CLERK
6 ` ~ ~ St. lUC1E COUNtY. fl.
~ ~z-`'~7 Seal
f )
MANUII. A. MACfiUCA
, r i
.~-,,c'~~_/,~~~~isti~ ~ (Seal) • .
` IIaA C. MA~iUCA ~
(Seaq
>
(Seaq :r
` STATE OF FIORIDA, County ss:
~ I hereby ceriity that on this day, beiore me, an ofiicer duly authorized in the state aForesaid and in the
~ county aforesaid to take acknowledgements, personally appeared '
~
MANUEL A. MA~CEiLICA ~AND IL1A C. MAC~iUCA , HIS WIFE
i
. to me known to be the person(s) described ~n and
• who executed ihe foregoing instrument and acknowledged before me that Borrower executed the same
. for !he purpose therein expressed.
~ WITNE5S my hand and ofticial seal in the county and state aforesaid Ihis ~
" r
e day of ~rr-~.^y _ . 19D~ ~
~
i My Commission exp±res:
F .,r ~1 d ~ ~
.
~J N ry Pub(~c
r: "sea~ - WI4NA S. JACOBSEn
~ . - 716-204182 ~ B~pjp~g~~~
~E~
• 00187000379
~ .
A-3o' 800K 544 PAGE /
_
_