The URL can be used to link to this page

Home My WebLink About1327 1-4 FAMILY RIDER 1/2944 PsL ' A.~mcnt of Rents _ "CHIti l-3 [=AMiLY RIDCR is m:ule this 15TH ~~y DECEA'iBER ~~y 89 • .~~~J i, ~n~ur~x~rat~d intu ;ui~i ~hsll be Jrem~i tu :unend :?nd ~upplement the Mongagt. Deecf of Truat ur Ser~riry L)ue~ iihc "~r~urity lnstrument") uf the s:ur~ dste given by the under~ig~c~i (the "Borruwer"1 tu ~curt BoRUw~r's Nute to GDV FINANCIAL CORPORATION . (th~ "L.~nd4~") ut th~ .a~nr ~att :ind covering the prc~pCrty describrd in thr S~curity in,trument anJ IuratrJ at: 304JI S. W. ANN ARBOR ROAD, PORT ST. LUCIE, FL 3 4983 ~P~openy Aa~~ess? 1-~3 FA,ti11LY COVENANTS. In addition w the rovenant, anJ agrrrmrnts m:ufe in th~ Sr~urity In~trum~nt, Burruwer .~n~l Li~2J~r tunher cuvenant and ~grce as fullows: A. USE OF PROPERTY; COMPI.IANCE WITN LAW. Burrower shall not seek, agrce tu ur m;~?:e a ch:uige in the u.~ uf ihz Pcuperty or its zoning cl;usihcation, uniess lxndrr h~~ agre~i in wnting tu the ch~nge. Burruwer ~hall comply ~ ~th ai! law,, unlinances, rcgul:~tions :u~d reyuirements of :?ny govemmental bociy applicable to the Property. N. SUBORDIIVATE L1ENS. Except as ~rmitted by fedrral taw, Borruwer shall not altow any lien infenw to the S~~unt~ lnstrument to be perfected against the Property without L.ender's prior written permission. C. RENT LOSS INSURANCE. Botrower shall maintain insur•.ence ;~gainst rent loss in addition to the other hazards iur whi~h in~urance is r+~yuin~d by Uniform Cpvennnt S. U. ••BORROVYER'S R1GHT TO REINSTATE" DELFTED. Unifurm Covenant 18 is delet~:d. E. ASSIGNMENT OF LEASES. Upon Lender's request, Borrower shall assign to l.ender all leases of the Property and ;ill ~ecurity depositi made in connection with leases of the Property. Upon the assignment, l.xnder sh:ill have the nght tu muJily, extenci or tenninate the existing lea~es and to execute new leases. in L.ender's sule diu:retiun. As usral in tl?u paragraph E. the worci "lease" shaU mean "sublea~e" if the Security lnstrument is on d ICi1aCF10IlI. F. AS.ti1GNlV~NT OF RENTS. 8orrower unconditiunally assigns snd transfers to Lxnder all the rents and revenue~ uC ch~ Pruperty. Borrower authorizes Lxnder or l.ender's agents ta collect tne rents and revenues and hereby direrts each <<n:~n~ ~C the Property to pay the rents to l.ender or l.endrr's agents. However, prior to Lender's N~xice to Borrower of l3.muwrr'~ br~ach of any cuvenant or dgrepmenr rh~ S~s~_~ry ln~uun»nt. Borso~set shalt iaflect arid re.c2ive aff rer~t~ ~,~~i r~v~nue~ uf the Property as wst~c for the benefit of l.ender and Borrower. This assignment of cents constitutes an :,bwlutr :,.,~ignrr~nt and not an assignment for additional security only. li L.~nJrr gives ~otice of breach to Borrower. (i) all rents received by Borrower shall be held by Borrower as ttustee iur b~:n~tic uf Lender onty, to be applied to the sums secured by the Sccurity Insuvment; (ii) l.ender sh:~ll be entitlecf to ~u1f«;~ :uid receive all of the rents of the Property; and (iii) e~ch tenant of the Property shall pay all rents due and unpaid tu L~rwCr or L,ender's agent on Lxnder's written demand to the tenant. E3~rrowrr has not executed any prior assignment of the rents and has not and will not perform any act that would ~ prc~~nt L.rnder frum exercising its rights u~der thi~ paragraph F. I LrnJtr shall not be reyuired to enter upon, take control of or mainwin the Propeny before or atter giving notice uf ~ bre:,ch w Borr~wer. However. Lender or a judicially appointed receiver may do so at any time there is a breach. Any j applicstiun uf rents shall not cure or waive any default or inralidate any other right or remedy of L.ender. This :s~sign- j m~ni ~t rrnu uf the Property shall terminate when the debt secured by the Securiry Inswment is paid in full. ~ G. CRUSS-DEFA~ULT PROViSION. Borrower's default or breach under any note or agreement in which L.ender has f :~n intrrr,~ ~hall be a breach under the Security lnstreiment nnd Ixnder may invoke any of the remedies permitced by the S.:~urity ln~ttutnent. i ~ ~ BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this 1-4 Family Rider. ~ „ ^ , ~ , t~22 ~ 0 j VINCEN20 RICOTTA .gor,~~ , ~ •y0 JAN 30 Pt?_ ~27 ~ - ~ ~ ANNA RICOTTA .gorrow~r ~ ~ . . ~ ~ ~'?1,~~~A.S~G.~~,;h t ) ~ ~ i L U C 1: i y -eorrowe. z (~1) -BorrOwtr ~ E 3 ~ ~ ° ~ ~ ~c5 ?A~f 1327 ~ ~001( MUIJISTRTE 1-i FAWI~ RIDER - F~aal~ Ms~/FMIIt 11st Uaitom? lasirtim~at Fsna 3170 10ri6 ~-57 vMF MOHT4AGE fORtAS •~~13i T92 a)00 •~6001 52S 729~ ~ "r ~r' ~.~`~`re:~'r.~ C . . .r-_'r. ~ c ~ ~rz ~n.A. ~ r. ~ ~ - - . . ' - - ~ a:~~'~~~