HomeMy WebLinkAbout0992 A(~(1~Q,,(1 riVI1W~ ~7a~n~v
~ ~7V. V.S.
Port St. lucie, Flonda 33452
305 878-1062 M~
. 7. ~fol~ct. Excopt lor any ~1otlco ~oqul~od undtlrappli~bhldOw io bo plwn in anothe~ n~annst, any nolice to 8orrowe~
provided lor in thta Mort~sQe ~1~ bo 9ivon by dolivonnp It or by m~l~~np such notice byCehNied m~il ~ddns~~d to 8o~rower at
tha Py~perty Add?ass o~ at such othor ~dd~oss es 8orrowor m~y ddalpnels by notlce ~f tende~ as p~ovldsd he~etn. and (b) any
notlc~ to lender ah~ll be given by cohiHed mstl to lendnr's addrest steted herstn o~ to iuch other eddre's as Lendsr may
designate by notice to 8or~owe~ es providod herein. Any notice p~ovide.d t~~ in thi~ Monpa~e shall bs dsemed to have been
, given to 8orrower o~ lender whon givon in the n~enn~r designated he~eln. .
8. Qov~min~ L~w; Sevenbtlity. The lew ot the Stete ot Flotide shali povem the interpret.bility conatruction aRd
enlorcement of lhis Mohgage. The luregotng aentonce shsll ~ot Itmlt the epplice~blllty Qi Fedsral taw to thi~ Monqe~a. l~ the
evenl that any provision or clau~e ot thls MohgAqe o~ Ihe Ag~ee~nent contlicts with appltcebls tew. ~uch contllct shell not attect
olher provislons ot Ihis Mo~t~a~o or tho A~~QQmoM which c~+n be ~iven eilect wlihout th~ o~nilictin~ provision. and to thla end '
the provisiona ol this MohQage and tho Aqroomonl a~e doclpred to be eeverabls. •
9. Equlty Management Accou~t Losn Agreem~nt~ P~Qntl~tory Note, snp 01=Closun Stet~m~nb 8orrower eha11-tuHili all
Bo~~ower s obligaliona unde~ the Equily Manapement Account Loan A~reoment. P~omiaaory Nate~ and Olsclosu~e St~tement
(the "Ag~eement") which Bo?rowor enterod Into with I.ender. ~
to. Tr~n~l~r ol Prop~Ny.11 Bor~owar soils ~r tra~~tera atl or any part ol the ProRe~ty or en intereat the~etn (legal or
benetictal). then the lende~ may decl~re all al ths su?ns atourqd by thl~ Mo~t~spe to b~ Imm~:dl~tely dus end payabl~. It Lendsr
exercises such optlon to eccelerate. Le~;+er ~I~at~ motl ~or~owerrottce ol acceleratlon.in acc o~dence wtth perag~eph 7. hsreot. ~
Such notice ahall provide e pe~iod ot not lesa thnn a0 duys lrom 1he dete the aotics i~ mallsd c~d~ltvered.within which 8or~qwer
may pay the aums declerod due. II ~Borrow~r la+ls to pay such a~ms p~ior to the expiratlon ot such pe~lod. Lender may. without
lurther notice or demand on 8orrowar, inva~o e~ny ?rmedies pormitted by pe~graph 11' hi ~rsoi. .
11. Accete~ation; R~m~dles. Except as p~oviac:u ~n pa~a~Mph 10 hereoi~ upon Borrc+we~'s breaeh of any eovenant o~
-agreement ol Borrower in this Mo~tQage. inC~~~dinq the covenents to pey whon due any sumt secured by this Mortgage. Lender
p~ior to acceleraUon shap give nottce tQ Ba~rcNb: ac qrovtdsd In para~raph 7 heraot sptaifvinq: ~1).the b~sach; (2) ths actlon
~equired to cure such breach; (3) a datv, nat Iess than 10 days from the date the not~cs It msiled to Bo~~ower by which auch
breach must be cu~ed; end (4) that lailure to cure such breach on or bel~re the date sp~citied In the notlce msy reauit in
accelera~tion ot the sums secured by thts Mo~tgAge, loreclosure by Judiclel proceediln~; ard tsie ot the P~opeKy. The notice
shali funher intorm Bor~ower ot the right to ~olnstate alter acceleratlon and the ~i~ht to eaaeK in the torocto3u~e p~oc~eding ihe
nonexistence oi a defauit or any other detenso of 8o~towet to ecceleralion and torecloauro. it the breach is not cursd on or
before the date specitied in the notice. Le~dor. at lende~'a option. may declare all of !he ~ums secuted by thia Mortgaga to be
immediately due end payable without turtnor demand and may torecloae thls Mortgag~ byludiclai proceedin~. Lendar ahell be
entitled to collect in such proceeding all er.pensos ot torECl~sure. including. but timited to.~reaaonabte attorneys` tees. couA
costs, and costs oi documentary evidcnce. a~stracls ancJ title repoha. 1 ~
12. Relesae. Upon payment ol all sums sccured t?y this Mort~~flR. Lender shall release this Mortgage without cherge to
8orrower. 8orrower shail pay ail costs of rccorda:ion. il an~?.
13. Attomeys' Fees. As used in this MortgaQe s~nd in the Loan Agreement. "attorneys' iees" shail include attorreys' lees. i(
any. which may be awarded by an appellate c~url. _
tA. Advsnces. lender may. at its optio?i. ~dvASSCp funds to pe~lorm any obligation oi 8or~ower and eny suCh sum sheli be
secured hereby.
15. Futu~e Advances. This A4ottgage sh~li Also secure luture advances, whether obligatory or not as ere made wlthin
twenty (20) years t~om the date her~rot td the st?m~ eYtr.nt aa it thR luture advance wero made an the date ot the execution ot this
mongage, but such aecured indetitsdr ~s ~hAl! ~~ot a~?ceed. at a~~~ ~ime. lh~ sum ot S~0, 000.00 ~ being twice the
. originai principal balance aecured by i~•~~a~e. pius in~ereat end dlsburaem~nU meds for the purpote of payment of
taxes, levies or inaurance on the Mortgaged Nroperry, with intoreat on such dllbursements. -
IN WITNEBS WHEREOF. ~orrower has executed this Mortgage on ttie Or~y and year tirat above written.
~
TMIS IS A 9AlLOON MORTGAGE SECURING A VARIABLE AATL OBLIGAl70N. A8E-UMING THAT THE INITIAL RATE
OF IAITEREST WERE TO APPI.Y FpR TH~ ENTIHE TERM OF THE MORTOAUE (AND A88UMING THATTliE MAXIMUM
~ CREDIT IS DRAWN UNDER THE AGR~EMENT ~ECURED HEREBYj, THE FI VAL PR1NCIPAt. PAYMENT OR THE PRIN-
~
` CIPAL BAIANCE DllE UPON MATUR1~lt. YlOUt,b BE APPROXiMATCIY S~5~~~•~ .TOOETHER
~ WITH ACCRUED INTEREST~ IF A~iY, AND AlL ADVANC~MENT8 MADE ~Y THE MOHTGAGEB UNOER THE TERMS OF
THIS MORTGACiE. THE ACTUAt. BAIANC~ OUE UPON MATURtTY MAY VARY CEPENDINQ ON CHANOE8 IN THE
` RATE OF INTEAEST (AND THE ~i110UNT ORAVJN UNDER THE ACiREEMENSI.
I ~Sign~d. led and delivere ~C~~S~ '01 -
~ in the e ence ol:
~ , ~
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. . BORROWEh o e . c n
. ST. 1:;~
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BORR WEF. Renee L. ekin .
.
STATE OF ) ~
- ~ ' ) S.J.:
COUNTY OF )
! HEREBY CERTIFY thal on this d7y. batorv me, an a(ticcr duty authorized in the state afo~ementioned en In t e county
atorosaid to take t~cknowledgaments. ~wrsonrlly appgared ~ .
to mc known 1o b~ the porsons dnscrihaci in r+nd who executc s o!or Ihe purpos erein x~ B~"'• .
,
Y/ITNESS my hand ~nd otlici,il sehl in II~C caunty:~nd st~tQ aloresaid this ~day ot. ;ry ~ :b19&~.
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800~( ~V~ PA~ ~~2 8 6EKfRAI 1MS. UItO,
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