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WRAF-AROUND M~RTGAGS ADDENDUM
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~ This is a purchaee money b~rcond mortga~ge, au?s'3~ect~-~nly ~to a
firet mortgage i~ favor of HBRaBRT YAN KRUININGBN and ~ULIA YAN
KRUINiNGEN, his wife~ dated October 9, 1985, and ~ecorded in
~ Offici~al R~cords Book 479, at Page 1449, of the Pub1~c Record$ of ~
St. Lucie Coun~y, Florida, having a~ approximate anpaia principal
balance of $l~t~~460.OQ , hereinafter ca~led "first mortgage."
1. The mortgagor agreea to comply aith all of the terms and
conditions of ~the first mortgag~e o~her than with reapect to the .
_payment of principal and intereat due under the first mortgage. `
2. if the morCgagor shali fail to comply wiCh aII of the
terms, proviaiona and conditions of ~he first mortgage so as to
result in a'defaulC under it (other than wfth respect to payments of
principal. and interest due), that failure on the part of the
mortgagor shal]. constitute a default unde~r ~hfe mortgage and ahall
entitle the mortgagee, at its option, to exercise any and~all righta
and remediea given the mortgagee in the event o£ a default under
this mortgage.
3. The mortgagee agrees to pay to the hoZder of the firat
mortgage the unpaid principal balance of the mortgage, togeth~r with
all interest accruing under ft, as and When required by the terme of
~ . the first mo'rtgage, x~xocx~cxx~upxx~pcl~gc
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4. All those payments provided to be paid by the mortgagee,
pursuant to the provisions of Subparagraph 3 above, aha~l be made by-
~ the mortgagee before the expiration -of the applicable grace pexiods - _
provided for those payments as contained in the first martgage. ~
5. Notwithstanding ~the foregoing, the mortgagee's-obligation
to make the"respective paymenta of principal and interest as and
when due unaer the first mortgage is ~onditioned on the following:
a. The mor~tgagor shall not be in default under thia
morCgage. •
b. The mortgagor shall comply with all of the terms and
provieions of the first mortgage other than with respect to the ~
payments of principal and interest. ~ ~ ~
~ 6. The mortgagee does not assume any of the obligations of
the mortgagor urtder the first mortgage except as provided above with
respect to the payments of pri.ncipal and fnterest due after
November 30, 1987 • -
7. The mortgagor agrees to pay to the mortgagee any suma
required to be paid to the holder~'of the first mortgage (other than
payments of principal and intere$t unr3er the mortgage) at least 20
days before the last day under each of the mar~gages that those
payments may be made vithout conatituting a de£ault. The mortgagee
agrees to remit promptly those eums so paid to the moctgagee by the
mortgagor to th~ holder of the first martgage in payment o€ the snms ,
due under that mortgage.
~ 8. If the unpaid prfncipal balance of the firat mortgage is
reduced by the holder of the mortgage applying inaurance proceeds in
its reduction or by prepayme~ts made by the morCgagor.With the prior
aritten con~ent of the mortgagee so Chat the mortgagee's obligation
to pay to the holders of the first mortgage the unpaid principal
balance of the mortgage as above provided ie ei~nilarly reduced, the
mortgagee agreea thafi the mortgaqor's ob2igatfon to pay the total
indebtednea$ to the mortgaqee ahal]. be reduced likewiee by an
equivalent amount. The equivalent amount is to be deducted from the
final paymenta to be macie by the mortgagor to the mortgagee, in the .
inverae order of their due date.
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