HomeMy WebLinkAboutResolution_40-00/01_05/10/2001r~
RESOLUTION NO. 40-00/Ol
A RESOLUTION OF THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY,
FLORIDA, APPROVING THE RELEASE OF LIEN ON
THE PROPERTY LOCATED AT 372 COUNTRY CLUB
DRIVE, TEQUESTA, FLORIDA IN RETURN FOR THE
PAYMENT OF $686.30 IN FINES AND AUTHORIZING
THE VILLAGE MANAGER TO EXECUTE THE RELEASE
OF LIEN ON BEHALF OF THE VILLAGE.
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NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL
OF THE VILLAGE OF TEQUESTA, PALM BEACH COUNTY,
FLORIDA, AS FOLLOWS:
Section 1. The release of Lien attached hereto as
Exhibit "A" and incorporated by reference as a part of
this Resolution, is hereby approved and the Village
Manager of the Village of Tequesta is authorized to
execute the same on behalf of the Village of Tequesta.
THE FOREGOING RESOLUTION WAS
von Frank who
motion was seconded
~~rgtta i
vote, the vote was as follows
OFFERED BY Councilmember
moved its adoption. The
by Councilmember
and upon being put to
FOR ADOPTION
Geraldine A. Genco
Joseph N. Capretta
Basil E. Dalack
Russell J, von Frank
Sharon D. Walker
AGAINST ADOPTION
• II The Mayor thereupon declared the Resolution duly
passed and adopted this 10th day of May, A.D., 2001.
MAYOR OF TEQUESTA
Geraldine Genco, ayor
ATTEST:
Q~GLZiC/~
Betty L r
Acting Village Clerk
Word/Resolutions/Release of Liea County Club
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THIS INSTRUMENT WAS PREPARED BY:
• JOHN C. RANDOLPI-i, Esquire
Jones, Foster, Johnston & Stubbs, P.A.
., Post Office Box 3475
West Palm Beach, Florida 33402-3475
RELEASE OF LIEN
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t~ ~1 ~i ~. Lam" . ,...~ ~.} ,J I-' 9 ~.. ~. ~~ ~_p
ii~~nu~i~iHNUiu~uii~~ii~~iiaii~ui~~iiiui
THIS IS TO CERTIFY that the Code Enforcement Order filed by the Village of Tequesta,
dated January 25, 2UVi, aiiu l~cc=ucu ='e`'-~a=~' ~~ 20'1- '-" nff c'al Record Book 12295, at Page
1624, public records of Palm Beach County, Florida, against LUIS M. BLANCO and the following
described property:
Address: 372 Country Club Drive
Tequesta, Florida
Legal: Tequesta Lt 136
60-42-40-26-01-000-1360
• en released, and that the Village of Tequesta through the undersigned authority hereby releases
has be
the said lien as to the whole of the above-described real property, and consents that the same be
discharged of record.
Dated this / 5~- day of ~ ~.~ ;~- - , 2001.
VILLAGE OF T13QUESTA
ciQnPd. sealed and delivered r r.,.Tr-. ~~, ,rte T
in the presence of: `"
By
Witnes Its ~~~~°` ~ ~'"'~'
~~rry ~.a-
Print Name
Witness
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• Print Name
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STATE OF FLORIDA
COUNTY OF PALM BEACH
Of;E+ :12~~5 Fig y.1C}~
DOROTHY H. IdILKEN, CLERK PB COUNTY, FL
The foregoin instrument was acknowledged before me this ~~L day of rY?C t ~ ,
g , . ~~ , ., ~ ~ ~ ~ ., ~Y1n ~-, r- , ~ ~~ . ~~ of the V ill ge
2ool,by ~(Yy~ ~~ ~-~c ~~~ 1 r c L ~ -< ~ .
of Tequesta, Florida, who is personally' known to me or who has produced
as identification and who did (did not) take an oath.
~, ~ i .(.~
Signature of Notary Public
i ~ z~ ~~~~
Printed name of Notary Public
o~°~'Q« Cynthia R Senbr>tem
.~ *My Commission CC699211 ~ n
%,,N~'r,~r' Expires November 30.2001 ~ CJ~ ~,~-~,'~-~ ,~-.~~=;-`'~~--( -` -~-
CommissionNumber
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IN T3E CIRCUIT COURT OF THE 15'~ JUDICIAL CIRCUIT
IN AND FOR PALM BEACH COUNTY, FLORIDA
ESTATE OF ANDREW J. MCGILL by and )
through JEANNETTE M. CORBETT, as )
Personal Representative, )
Plaintiff, )
-vs- )
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DAVID J. BIICHNER and MARY L. BUCHNER, )
husband and wife; VILLAGE OF TEQUESTA, )
FLORIDA; COUNTY OF PALM BEACH, FLORIDA; )
LOXAHATCHEE RIVER ENVIRONMENTAL CONTROL )
DISTRICT; EMIGRANT SAVINGS BANK; )
WATERWAY VILLAGE PROPERTY OWNERS )
ASSOCIATION, INC.; ANY AND ALL UNKNOWN )
PARTIES CLAIMING BY, THROUGH, UNDER OR )
AGAINST TAE HEREIN NAMED INDIVIDUAL )
DEFENDANTS WHO ARE NOT KNOWN TO BE DEAD )
OR ALIVE, WHETHER SAID UNEINOWN PARTIES )
MAY CLAIM AN INTEREST A5 SPOUSES, HEIRS, )
DEVISEES, GRANTEES OR OTHER CLAIMANTS; )
Defendants. )
THE STATE OF FLORIDA:
To Each Sheriff of the State:
CIVIL DIVISION
Case no.
SUMMONS (general form)
YOU ARE COMMANDED to serve this summons and a copy of the complaint or petition
in this action on the VILLAGE OF TEQUESTA, whose address is 357 Tequesta Drive, Tequesta,
Florida 33469
Each defendant is required to serve written defenses to the complaint or petition on
FRANK R. BRADY, ESQ., plaintiffs' attorney, whose address is Brady & Brady, P.A., 370 Camino
Gardens Blvd., Suite 2000, Boca Raton, Florida 33432, within 20 days after service of this
summons on that defendant, exclusive of the day of service, and to file the original of the
defenses with the clerk of this court, whose address is 205 N. Dixie Highway, West Palm Beach,
FL 33401, either before service on plaintiffs attorney or immediately thereafter. If a defendant
fails to do so, a default will be entered against that defendant for the relief demanded in the
complaint or petition.
Dated on
DOROTHY WILKEN
As Clerk of the Court ~
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By: J
Deputy Clerk ~ , (~
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NOTICE: In accordance with the Americans with Disabilities Act of 1990 (ADA), disabled persons
who, because of their disabilities, need special accommodation to participate in this proceeding should,'
within a reasonable time prior to such proceeding, contact the Administrative Office of the Court at 205 N.
Dixie Highway, Room 525, West Palm Beach, FL 33401 ortelephone (561) 355-2431, (800) 995-8771 (TDD)
or (800) 955-8770 (V), via Florida relay service.
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IN THE CIRCIITT COIIRT OF THE 15TH` JQDICIAL CIRCIIIT
IN AND FOR PALM BEACH COIINTY, FLORIDA
ESTATE OF ANDREW J. MCGILL by and )
through JEANNETTE M. CORBETT, as )
Personal Representative, )
Plaintiff, )
-vs- )
DAVID J. BIICHNER and MARY L. BIICHNER, )
husband and wife; VILLAGE OF TEQUESTA, )
FLORIDA; COIINTY OF PALM BEACH, FLORIDA; )
LOXAHATC$EE RIVER ENVIRONMENTAL CONTROL )
DISTRICT; EMIGRANT SAVINGS BANK; )
WATERWAY VILLAGE PROPERTY OWNERS )
ASSOCIATION, INC. ANY AND ALL UNEQTOWN )
PARTIES CLAIMING BY, THROIIGH, UNDER OR )
AGAINST TSE HEREIN NAMED INDIVIDIIAL )
DEFENDANTS WHO ARE NOT KNOWN TO BE DEAD )
OR ALIVE, WHETHER SAID UNKNOWN PARTIES )
MAY CLAIM AN INTEREST AS SPOIISES, HEIRS, )
DEVISEES, GRANTEES OR OTHER CLAIMANTS; )
" Defendants. )
CIVIL DIVISION
Case no. CA 01-06118 AW
MORTGAGE FORECLOSURE
COMPLAINT-
COMES NOW the personal representative Of Plaintiff s estate, JEANNETTE M.
CORBETT; in behalf. of the estate of Andrew: J. McGill, deceased ("Plaintiff"), by and
through her undersigned attorney, and sues Defendants, DAVID BUCHNER and MARY
L. BUCHNER, husband and wife ("Buchner"), forforeclosure of Plaintiffs mortgage on and
security interest in certain real property located in Palm Beach County, Florida. In support
of this Complaint, Plaintiff alleges the following:
GENERAL ALLEGATIONS APPLICABLE TO ALL COUNTS
1. This is an action for breach and default of mortgage, foreclosure and damages.
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The aggregate amount in controversy for all counts of this complaint exceeds $15,000
exclusive of interest, costs and attorneys fees. Accordingly, this Court has jurisdiction of
this matter pursuant to § 34.01(c)4., Florida Statutes;
2. Notice required by the Florida and/or federal Fair Debt Collection Practices Act,
Fla. Stat. § 559.55 et seq. and Title 15 U.S.C. § 1601 et seq., as amended, respectively
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• (the "Fair Debt Collection Practices Act"), is attached hereto as Exhibit B and incorporated
herein by this reference;
• 3. At all times material to this cause of action, Plaintiffs place of residence is and
has been Palm Beach County, Florida, Plaintiff is over the age of 18 years and sui jurist
4. At all times material to this cause of action, Defendants David J. Buchner and
Mary L. Buchner are and have been residents of Palm Beach County, Florida occupying
the subject real property parcel identified herein;
5. By instrument dated May 17, 1999, Defendants David J. Buchner and Mary L.
Buchner, husband and wife, granted and conveyed to Plaintiff a mortgage lien on and
security interest in the following parcel of real property located in Palm Beach County,
• Florida .(the "Mortgagee), to secure the payment of the principal of, interest on and any
other sums payable undertheir secured promissory note in the aggregate principal amount
• of $125,000 given to Plaintiff on even date with the date of such. note (the "Note"), and to
secure their-performance and observance of all provisions of the Mortgage and Note, to
wit:
A parcel of land in government Lot 4, section 30, township 40 South, Range
43 East, County of Palm Beach, State of Florida, as more particularly
described on Exhibit. A attached hereto (hereinafter referred to as "the
Property'); .
6. Venue of this action is properly before the Courtin Palm Beach County, Florida
because a suit to foreclose a mortgage must be brought in the county where- the land. lies,
even if other relief is sought in the complaint. Fla. Stat. § 702.09 et seq.; Sales v.
Berzen, 212 So. 2d 23 (Fla. 4th DCA 1968);
7. All conditions precedent to the filing of this action have been satisfied;
COUNTI
8. This Count I is an action for breach and default of mortgage, foreclosure on real
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• property located in Palm Beach County, Florida and damages.
9. Plaintiff realleges, and incorporates into-this Count I, paragraphs 2 through 7 of
• this Complaint as if-fully set out in this Count I;
10. The Mortgage was recorded in official records book 11138, page 1278 of the
public records of Palm Beach County, Florida and a copy thereof is annexed hereto as part
of composite Exhibit C;
11. Plaintiff is the mortgagee under the Mortgage, and owner and holder of both
the Note and the Mortgage;
12. Defendants David J. Buchner and Mary L. Buchner are the owners of record
of the Property;
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• 13. Copies of the original Mortgage and Note, with Assignments (if any), are
attached hereto as composite Exhibit C and incorporated herein by reference;
• 14. Plaintiff now owns and holds the Note and Mortgage, both of which are in
default. The required installment payment due on May 17, .2001 was not paid, and no
subsequent payments have been made;
15. Plaintiff .declares the full amount payable under the Note and Mortgage to be
accelerated and now due;
1fi. Plaintiff must be paid the sum of $125,000 in principal on the Note and
Mortgage, together with interest from April 17, 2001, -late charges, and all costs of
collection, including title search expenses for ascertaining necessary parties to this action
and reasonable attorneys fees pursuant to paragraph 7 of the Mortgage;
17. All conditions precedent to the acceleration of the Note and foreclosure of the
Mortgage have been performed or have occurred;
• 18. Plaintiff has retained the lawfirm of Brady & Brady, P.A. to prosecute this action
and is obligated to pay reasonable fees for its services in bringing this action as well as
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• all costs of collection;
19. The interests of each Defendant are subject, subordinate, and inferior to the
right, title, interest, and lien of Plaintifias Mortgage;
20. The Village of Tequesta, Florida, a municipal corporation and political
subdivision of the State of Florida, may have or claim an interest in the Property that is the
subject of this foreclosure action by virtue of an easement for ingress and egress and right-
of-way deed recorded in O.R. Book 1173,. page 139, Deed Book 11.62, page 549, O.R.
Book 403, page 399, 0. R. Book 409, page 375 and O.R. Book 531, page 255;
21. The Waterway Village Property Owners Association, Inc:, a Florida nonprofit
corporation, may have or claim an interest in the Property that is the subject of this
foreclosure action by virtue of an assignment and acceptance of certain bylaws;
covenants, conditions and restrictions recorded in Deed Book 1,152, page 393, Deed Book
1159, page 325; O.R. Book 778, page 576; O.R. Book 2577, page 1014; 0. R. Book 3970,
page 277, 0. R. Book 4150, page 1683, 0. R. Book 11544, page 450, 0. R. Book 11760,
• page 1655, O.R. Book 971.1, .page 1527; 0. R. Book 9815, page 1370 and 0. R. Book 9815,
page-1374 of the public records of Palm Beach County, Florida;
22. Emigrant Savings Bank, a savings bank existing under the laws of the State of
New York, is anon-resident banking organization doing business in the State of Florida,
including the lending of money secured by mortgages on Florida real property and/or
servicing mortgage loans secured by mortgages on Florida real property. Consequently,
Defendant is subject to the jurisdiction of the courts of Florida due. to engaging in one or
more acts enumerated in § 48.193(1)(a), Florida Statutes;
23. Emigrant Savings Bank may have or claim an interest in the Property that is the
• subject of this foreclosure action by virtue of a mortgage and assignment recorded in O.R.
Book 11138, page 1263 and O.R. Book 11138, page 1276 of the public records of Palm
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• Beach County, Florida;
24. The County of Palm Beach, Florida, a politics{ subdivision of the State of
• Florida, may have or claim an interest in the Property that is the subject of this foreclosure
action byvirtue of aright-of--way deed, quit-claim deed and/or drainage easement recorded
in O.R. Book 1900, page 949, O.R. Book 1900, page 951, 0. R. Book 1900, page 956 and
O.R. Book 1916, page 361 of the public records of Palm Beach County, Florida;
25. The Loxahatchee River Environmental Control District, an agency of the State
of Florida created by a special act of the Florida legislature, chapter- 71-822, laws. of
Florida of 1971; may have or claim an interest in the Property that is the subject of this
foreclosure action by virtue of notice of lien rights- recorded in O. R. Book 4984, page 1254,
• O.R. Book 7048, page 655 and O.R. Book 7187, page 1712 of the public- records of Palm
. Beach County, Florida;
26. TENANT #1, TENANT #2, TENANT #3 and TENANT #4, the names being
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fictitious to accountforparties in possession who may claim some interest in the Property
• that is the subject of this foreclosure action by virtue of an unrecorded lease or purchase
option, by virtue of possession,: or may otherwise claim an interest in the Property. The
names of these Defendants are unknown to the Plaintiff;
27. Pursuant to §45.031, Florida Statutes, the Court may direct the clerk to sell the
property at public sale on a specified day not less than 20 days or more than 35 days after
the date of the final judgment offoreclosure, on terms and conditions specified in the order
or judgment;
WHEREFORE, Plaintiff requests that the Court ascertain the amount due, Plaintiff
for principal and interest on-the Mortgage and Note and for late charges, abstracting,
• taxes, expenses and costs, plus interest thereon; that if the sums due Plaintiff under the
• Note and Mortgage are not paid. immediately, the Court enter judgment offoreclose of the
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• Mortgage and direct the Clerk of the Court to sell the Property securing the indebtedness
to satisfy Plaintiffs mortgage lien in accordance with the provisions of Section 45.031,
Florida Statutes (1995); that the rights, title and interest of any Defendant,. or any panty
claiming by, through. under or against any Defendant named herein or hereafter due a
Defendant be forever barred and foreclosed; that the Court appoint a receiver or the
Property and such other relief as may be just and proper in these circumstances.
28. Plaintiff has engaged the undersigned attomeys to assist her in prosecuting this
action,- enforce the Note and to protect the. security of the Mortgage being foreclosed on,
has agreed to pay said attorneys a reasonable attomeys fee and costs, and. has become
obligated to said attomeys therefor,
29. Plaintiff is entitled to recover her costs, including reasonable attomeys fees,
pursuantto the provision for recovery of Such fees contained in section 8 of the Mortgage,
section 7 of the- Note and § 57.105(5), Florida Statutes;
WHEREFORE, Plaintiff requests an order determining that she is entitled to recover
• from Defendants- David J. Buchner and Mary L. Buchner all costs and attomeys .fees
incurred in prosecuting this action, determining the amount of such fees-and- costs and
entering judgment therefor against said Defendants, and such other relief as may be just
and proper in these circumstances.
COUNT II
30. This Count II is an action re-establish a lost Mortgage Note pursuantto Section
71.011, Florida Statutes;
31. Defendants, David J. Buchner and Mary L. Buchner, are affected by this action.
32. On May 1~7, 1999, there was executed and delivered a Promissory Note to
Plaintiff. A true and authentic copy of the original Note is attached hereto as an Exhibit:
• 33. Plaintiff owns and holds the Note.
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34. At some time between May 17, 1999 and the present, the Note has either been
lost or destroyed, and the Plaintiff is unable to state the manner in which this occurred.
The Note is not now in the custody or control of the Plaintiff;
35. The copy of the Note attached hereto is a true and exact copy of the original
Note and constitutes'a substantial copy of the lost or destroyed instrument;
36. The Plaintiff and the Defendants named herein are the only persons known to
Plaintiff to have an interest for or against the re-establishment of the Note.
WHEREFORE, Plaintff requests this Court's judgment re-establishing the Mortgage
Note pursuant to Section 71.011, Florida Statutes and such other relief as may be just and
proper in these circumstances.
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BRADY & BRADY, P.A.
Attorneys for; Plaintiff
370 Camino Gardens Blvd.
Boca Raton,: Florida 33432
Phone: (5 1) 338-9256-
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By: ~~~~ .
Frank R. Brady, Es .
Florida Bar No. 0588024
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LEGAL DESCRIPTION.
EXHIBIT "A"
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A parasl of ~ an$ .~ Count f P ~ Beach ° ats or ~Florida~,i more
south, Range ,
particululy dvsoribad as follows:
Bec~itsnirtq at a point in n Tins parallel to and 1157.52 feet
nvr~herly from measured at right angles to, the Bouth Tina of
SaC*ion 30 at a distance of ii83.o7 fast aastezly from, maasursd
along da#,d parallai line, the easterly-right of way line.ot 5tata
Road No. 3 ~U. S. Highway No. 1):, ae ahoam on state Road
p~p}~rtment's Aight-of-9~ay map rocorded in 8tats and County Road
Play Dook Z, Pages l05 to 1Ia, inclusive, of the public r~aords of
the County o! Palm Heaah, State o! Florida ~ thenoa •outhorly making
an ~qla with•.said parall`1 line, measured from west to Boutht of
iQ4 degrws, 30 minutes,, a distance of 414..92 feet to the poi.
baginitinq .:and. the Northwest corner of the parcel of Land harsin.
doscribad~ thence easterly, at -right angles to the, pr.cading
oourae, a distanot of ii'S feet, snore or lase, tQ the asters of
,Tupitar Sounds thence southerly, along the waters of Supitar Sound,
a distance of 8Q feet, Mora of lean, to a paint in a Line parallel
to, dad 80 tact southerly .from-. measweed at right ~angSas~to, th4
northerly line harsotf thence westerly, along saf.d-parallel Iiner
a distance of 95 fact.. more or less, to a -point in the. arc of a
cirole concave to- the West, and having a radius of 5o rest and
yrhose center lies in.tha westerly vxtsnaion of this-last described
oourse; thence northerly, alot~q the arc of said circle, a distance
of 46.36 feet to a point in n lies running southerly from the point,
o= beginning at right angles to the northerly llnn hereof, theme
no~ierly, along said northerly and eouthetly line, a distance of
40 reef to-the paint of beginning.
AKA. Lot 62, Water~taY Village, an unrecorded plat of the County o!
palm Beach, Stets of Florida.
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• EXHIBIT B
Notice required by the Fair Debt Collection Practices Act,
• 15 U.S.C. § 1601 et seq.; as amended:
In the event that the Mortgage Foreclosure Complaint to which this notice is affixed is construed
to be governed either bythe Florida or the Federal fair debt collection practices acts (§ 559.55 et
seq., Florida Statutes and 15 U.S.C. § 1692 et seq., respectively), the. debtor is hereby notified
of the following:
1. this is an attempt to collect a debt, and any information obtained. will be used for
that purpose;
Z. the amount of the debt to which this notice relates is $125,000 plus interest from April 18,
-2001;
3. -the party to whom the debt is owed by you is the Estate of Andrew J. McGill, deceased;
4. you have 30 days to dispute the validity of the debt;
• 5. If you notify. the undersigned attorney in writing, within 30 days„that the debt is wholly or
partially disputed. by you, the undersigned attorney will provide you with a venficafion of ,
the debt;. _ _
6: the- undersigned. will also provide you with the- name and address of the creditor if you
request that information in writing within 30 days after receipt of this notice;
• 7.. unless you dispute the validity of the debt, or any portion thereof; in writing. within 30 days
after receipt of this notice, the debt will be assumed to be valid; _.
8. written requests required by the Fair Debt Collection Practices Act and referred to in this
notice should be addressed to the undersigned attorney forthe Estate of Andrew J. McGill
at the address specified below.
Brady & Brady, P.A.
370 Camino Gan:lens Blvd., Suite 2000
Boca Raton, Florida 33432
Attn: Frank R. Brady, Esq.
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COMPOSITE EXHIBIT C
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$125,000.00 Palm Beach Gardens, Florida
Map 17, 1999
SECURED PROMISSORY NOTE
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FOR VALUE RECEIVED, the undersigned. (the "Borrowers ") promise to pay to the
order of ANDREW J. MCGILL, or order (the "Payee"), with payments due at his principal
address at ,Florida
or at such other place or places as the holder of this Note from time to tune
may .designate, in writing,- the principal sum- of ONE HUNDRED TWENTY-FIVE
THOUSAND AND NO/100 DOLLARS ($125,000.00) in lawful money of the United States
(the "Loan"), together with interest in like lawful money from the date of this Note at the rate
• of EIGHT PERCENT (8.00%) per annum on the unpaid principal until fully paid. Interest shall
be computed on the basis of the actual number of days elapsed and an assumed year of 365 days.
Borrowers and all endorsers, sureties, guarantors, accommodation parties and all persons liable
or to become liable with respect to the Loan are each included in the term "Obligor" as.used in
this Note.
1. Payment Installments. Commencing on the 17th day of June, 1999, and on the
17th day of each month thereafter, Borrowers shall pay equal monthly payments of interest only
in the amount of Eight Hundred Thirty-Three and- 33/100 Dollars ($833.33). On the 17th day
of May,. 2004, a final balloon payment of the. outstanding principal balance. together with all
accrued but u~aid interest shall be due and payable in the -amount of $125, 833.57.
2. Maturity Date. The entire outstanding principal balance of the Loan and any
unpaid charges or interest accrued on the Loan shall be due and payable in full on May 17,
2004.
3. Late Payment Charge. If any monthly installment under this Note is not paid
within fifteen (15) days from the date when due, then Borrowers shall pay to Payee a late
payment charge equal to ,five percent. (5 %) of the overdue installment. Each Late payment
charge shall be immediately due and payable without notice or demand by Payee.
• 4. Acceleration of Maturity. The entire u~aid principal. balance of the Loan,.
together with all unpaid interest accrued thereon and all other sums- owing under this Note or
any other instrument or document executed by -any Obligor in connection with the Loan (this
• Note and all such instruments and documents including without limitation any mortgages,
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security agreements, assignments, pledges, guaranties, contracts and any -other documents
executed to secure the Loan, aze referred to in this -Note as the "Loan Documents "), shall at the
option of Payee become immediately due and payable without notice or demand upon Borrowers'
• .failure to pay any sum within thirty (30) days after the date due under this Note, or-upon failure
to pay any other sum when due under any other Loan Document (and the expiration of any
applicable grace period provided in such Loan Document for that payment), or upon Borrowers's
failure to observe 4r perform any covenant or agreement in any Loan Document or the
occurrence of any ocher default (whether concerned with the payment of money or otherwise)
under any other Loan Document (and the expiration of any applicable grace period provided in
such Loan Document for the cure of that failure or default), and Payee shall be entitled to pursue
any and all rights and remedies provided by applicable law and/or in this Note or any other Loan
Document.
5. Default Rate of Interest. Irrespective of any acceleration of maturity, at Payee's
option the entire unpaid principal balance of the Loan shall bear interest -until paid at an
augmented. annual rate (the "Default Rate") from and after the stated or accelerated maturity of
this Note, or from and after failure to pay on the due. date any sum payable under this Note or
under -any other Loan Document (and the expiration of any applicable grace period provided in
• this Note or such other Loan Document for that payment), or from and after the occurrence of
any other default (whether concerned with the payment of money or otherwise) under any Loan
Document (and the. expiration of any applicable grace period provided in such Loan Document
• for the cure of that default); provided, however, that after judgment all such sums shall bear
interest at the greater of the Default Rate or the rate prescribed by applicable law for judgments.
The Default Rate shall equal the maximum interest rate permitted: by .applicable law.
s 6. Rights and Remedies of Payee. Payee shall be entitled to pursue any and all
rights and remedies provided by applicable Iaw and/or under the terms of this Note or any other
Loan Document, all of which shall be cumulative and may be exercised successively or
concurrently. Payee's delay in exercising or failure to exercise any rights or remedies to which
Payee may be entitled in the event of any default shall not constitute a waiver of any of Payee's
rights or remedies with respect to that or any subsequent default, whether of the same or a
different nature, nor shall any single or partial exercise of any right or remedy by Payee
preclude any other or further exercise of that or any other,right or remedy. No waiver of any
right or remedy by Payee shall be effective unless made in writing and signed by Payee, nor
shall any waiver on one occasion apply to any future occasion, but shall be effective only with
respect to the specific occasion addressed in that signed writing.
7. Attorney's Fees. If this Note is placed in the hands of an attorney .for collection
or is collected through any legal proceeding, Borrowers. promise to pay Payee's- costs,
disbursements and attorney's fees, incurred in connection therewith,. including those incurred. for
• appellate, bankruptcy or administrative proceedings.
8. Ma~mum Interest Rate. In no event shall any agreed or actual exaction
• charged, reserved or-taken as an advance or forbearance by Payee as consideration for the Loan
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• exceed ~e limits imposed or provided by the law applicable from time to time to the "Loan (if
any) for the use- or detention of money or for forbearance in seeping. its collection; Payee hereby
waives any right to demand such excess. In the event that the interest provisions of this Note
• or any exaction provided for in this Note or any other Loan Document shall result at any time
or for-any reason in an effective rate of interest that transcends the limits of the law applicable
to the Loan, then without .further agreement or notice the obligation to be fulfilled shall be
automatically reduced to such limit and all sums received by Payee in excess of those lawfully
collectible as interest shall be applied against principal immediately upon Payee's receipt thereof,
with the same force and effect. as though the payor had specifically designated such extra sums
to be so applied to principal and Payee had agreed to accept such extra payment(s) as a
premium-free prepayment or prepayments. During any time that the Loan bears interest. at the
maximum lawful rate (whether by application of this paragraph, the Default Rate provisions of
this- Note, or otherwise), interest shall be computed. on the basis of the actual number of days
elapsed and the actual number of days in the respective calendar year.
9. Waiver. All Obligors hereby severally waive demand, presentment, protest and-
- notice of dishonor, waive suit against or joinder of any other person, waive the right to trial by
jury in any action or proceeding brought in connection with the Loan or any guaranty thereof,
• waive the right to interpose any setoff or non-compulsory counterclaims or to plead laches or
any statute of limitation as a defense in any action or proceeding, waive any immunity or
,exemption of any property from garnishment or levy or execution or seizure or attachment prior
• to or in execution of judgment,.. and waive (to the extent lawfully waivable) all provisions and
requirements of law for the benefit of any Obligor now or hereafter in force.
10. Governing Law. This Note shall be governed by, construed and enforced in
S accordance with the laws of the State of Florida.
- 11. Severability. Any provision of this Note which is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction. only, be ineffective only. to the extent of such
prohibition or unenforceability without invalidating the rPm. ~ning provisions hereof.or affecting
the validity or enforceability of such provision in any other jurisdiction.
12. Miscellaneous. -This Note nay be prepaid, in whole or in part, at any time
without penalty. Time shall be of the essence with respect to the terms of this Note. The term
"Payee" shall be deemed to include any subsequent holder(s) of this Note. Whenever used in
this Note and unless the context otherwise requires, words in the singular include -the plural,
words in the plural include the"singular, and pronouns of any gender include the other genders.
Captions and paragraph headings in this Note -are for convenience only and shall not affect its
lIIterpretatlOII_
I3 . Binding Effect All of the terms of this Note- shall. " be binding upon the
Borrowers and their respective heirs, personal representative, successors and assigns, jointly and
severally.
•
Page: ~ of 4
•
•
~hner - McGill----------------------------05-13-1999----20:19:33 ---Page 1
-----------------------------------------------------------=------------------
~ounding interval: Monthly
Annual percentage rate......: 8.000%
Rate per compounding period.: 0.66.67%
Equivalent. daily rate.,,.....: 0.02192%
Valuation date: 05-17-1999. Value.: $ 125,.000.00
CASH .FLOW DATA
--------------------
First date Payment ------------
amount -##- ----------------
Interval Last ----------------
date -------------
06-17-1999 $ 833.33 59 Monthly 04-17-2004
05-17-200.4 $ 125 ,833.57 1
AMORTIZATION SCHEDULE - Normal amortization
---Date---.------ _-Payment_--- ---_Interest_ Principal Balance
------
---
Balance at 05-17-1999 ------
125,000.00
06-17-1999
~ .833.33 833.33 0.00 125,000.00
.07-1.7-1999 833...33
. 833.33 0.00 125,OOQ~00
3 08-17-1999 $33.:3
3 833.33 0.00 125,000.00
4 09-17-1999 - 833 .33 833 .33 0 ..00 125, 000:_00.
10-17-1999 833_3.3 833.33 0..00 125,000.00
I1-17-1999. 833.33 833.33 0.00 125,000..00
7 12-17-1999 833.33 833.33 0.00 125,000.00
1999 totals 5,833_31 5,833.31 0.00
8 .OI-17-2000_, 833.33 833.33 0.00 125,000.0.0
9:02=I7-2000 833.33 833.33 0.00 125,000.00
ZO 03-I7-2000 833.33 833.33 0.00 125,000.00
11 04-17-2000 833.3.3 833.33 0.00 125,0.00.00
12 05-17-2000. 833..33 833.33 0.00 125,000.00
I3 06-17-2000 833.33 833.33 0.00 125,000.00
14 07-17-2000 833.33 833.33 0..00 125,000.00
15 08-17-2000 833.33 833.33 ~ 0.00 125,000.00
16 09-17-2000 833.33- 833.33 0.00 125,000.00
17 10-17-2000 833.33 833.33 0.00 125,000.00
18 11-17-2000. 833.33 833.33 0..00- 125,0.00_.00
19 12-17-2000 833.33 833.33 0_00 125,000.00
2~ totals 9,.999.96 9,999.96 0..00
20 01-17-2001 833.33 833.33 0..00 125,000_00
21 02-17-2001. 833.33- 833.33 0..00 125,.000_00
03-I7-2001 833..33 833.33 "0..0-0 12.5,000_0.0
04-17-2001 833 _33 833 .33 0 ..00 125,. 000 _00
24 05-L7-2001 833.33 833.33 0.00 125x000_00
25 06-17-2001 833.33 833.33 0.00 125,_00:0_.00
07-1T-2001 833.33 833.33 0_00 I2S,0O0_00
08-17-2001 833.33 833..33 0.00 125x000_00
28 09-I7-2001 833..33 833.33 0.00 125,000_00
•
f
F~ner---McGill ------ ------- ------------05_13_1999----20_19_33 ----Page--2
P Date Payment Interest Principal Balance
10-17-2001 833.33 833.33 0.00 125,000.00
11-17-2001 833.33 833.33 0.00 ~ 125,000.00-
31 12-17-2001 833.33 833..33 0_00 125,000.00
2001 totals 9,999.96 9,999.96 0.00
r
32 01-17-2002 ..833.33 833.33 0_00 125,000.00
33 02-17-2002 833.33 833.33. 0.00 125,000.00
34 03-17-2002 -833.33 833-.33 0.00 125,000.00
35 04-17-2002 833.33 833.33 0.00 125,000.00
36 OS-T7-2002 833.33 833.33 0_00 125.,000.00
37 06-17-2002 833.33 833.33 0.00 125,000.00
38 07-17-2002 833.33 833.33 0.00 125,000.00
39 08-17-2002 833.33- 833.33 0.00 125,000.00
40 09-17-2002 833.33 833.33 0.00 125,000.00
41 10-17-2002 83.3.33 8.33.33 0.00 125,00<0.00
42 11-17-2002 833.3.3 833.33 0.00 125,000..00
43 12-17-2002 833.33 833.33_ 0.00 125,000.00
2~ totals 9,999.96 9,999.96 0.0A
44 01-I7-2003 83"3.33 833.3-3 0.00 125,000.00
45 02-1.7"-2003 833.33 833.33 0.00 125,000.00
~ 03-T7-2003 833.33 833.33- 0.00 125,000.00-
04-17-2.003 _ 833.33 833.33 0.00
- 125-,000.00-
48
OS-17-2003
833.33
833 :33 _
0 . fl0 _
125, 000 .00
49 06-17-2003 833.33 -833.33 0.00 125,000.00.
~ 07-17-2003 833_33 .833_.33 0.00 125,000.00
08-17-2003 833..33 833.33 0.00 125,000.00
52 09-17-2003 833.33 833.33 0."00 125,000.00
53 10-17-2003 833..33 833.33 0.00 125,000.00
54 11-17-2003 833.33- 8"33.33 0.00- 125,000.00
55 12-17-2003 833.33 833_33 0.00 125,000.00
2003 totals .9,999..96 9,999.96 0.00-
56 O1-I7-2004 833..33 833.33 0.00 125,000.00
57 02-17-2004 833.33 833.33 0.00 125,000.00
58. 03-17-2004 833:33 -833.33 0.00 125,000.00
59 04-17-2004 833.33 833.33 0.00 125,000.00
60 05-17-2004 125,833.57 833.57 125,000.00 0.00
2004 totals 129,166.89 4,166.89 125,000.00
Grand totals 175,000.04 50,000.04 125,:000.00
C7
•
•
e .__ Y
. • ,
Pre,}~arad by &~ renrrn to:
Daniel r. . Esquire
Daniel J. Shepherd, P.A.
113»0 Prosperity Farms Road
Suioe 213
Palm Besch Gardem, Florida 33410
File No.: 99-3ffi-03
r'"
r
~J
t~~-~-tsss ~:re~f 9s-~t s~~
E~, ~ ~ ~ 3'8 Pg ~ 2~~8
Con f25~A~ IIoc 437.SB
Ind ~8B
I~~~f~~~~~t~~~t~~~l~~^
{SPACE ABOVE THIS LIIVB-FOR RECORDING PURPOSES}
• THIS IS A BALLOON MORTGAGE. AND THE FINAL PAYMENT OF
PRINCIPAL AND ..ACCRUED INTEREST DUE UPON ,MATURITY IS
$125,833.57, TOGETI~R WITH. ALL ADVANCEMENTS MADE BY THE
MORTGAGEE- UNDER THE TERMS OF THIS MORTGAGE
SECOND- MORTGAGE
THIS- SECOND MORTGAGE (hereinafter referred to as the "Mortgage"}, dated as of
May 17,.1999, by and between DAVID J. BUCHNER and MARY L. BUCHNER, husband
aad wife, having an address of 19140 Waterway Road, Tequesta, Florida 33469- (hereinafter
referred to as the "Mortgagor") and ANDREW J. MCGILL, having an address of
4806 Poinsetta Avenue 463. West Palm Beach Florida33407 (hereinafter
referred to as the "Mortgagee")
WITNESSETS, that in consideration. ofthe premises and,in orderto secure the payment
• of both the prineipaT and: interest and any other sums payable on the- note (as hereinafter defined)
or this Mortgage and the performance and observance of all- of the provisions hereof and of said
note, Mortgagor hereby grants,. sells,: warrants, conveys, assigns, transfers,. mortgages and-sets-
• over and confirms unto Mortgagee,- alI of Mortgagor's estate;. right,- title and interest in, to-and
Page 1 of 8'
•
• ' , Ofd _ i 1 13~ Pg 129
under all that certain real property situate in Palm Beach County, Florida, more- particulazly
described as follows:
•
See Exhibit "A" attached hereto;
TOGETHER WTTH all improvements now or hereafter located on said real property
and all fixtures, appliances, apparatus, equipment, furnishings, heating and air conditioning
equipment, machinery and articles of personal property and replacement thereof now or hereafter
affixed to, attached to, placed upon, or used in any way in connection with the complete and
comfortable use, occupancy, or operation of the said- real property, together with all proceeds
of insurance and condemnation awazds (the foregoing said real property, tangible and intangible
personal property hereinafter referred to collectively as the Mortgaged Property).
TO HAVE AND TO HOLD the Mortgaged Property, together with-all and singular the
tenements, hereditaments aad appurtenances thereurno belonging or in anywise appertaining and
the reversion and reversions thereof and all the estate, right, .title, interest,. homestead, dower
and right of dower, separate estate, possession, claim and demand whatsoever, as well in law
• as in equity,_ of Mortgagor and unto the same, and every part thereof, with the appurtenances
of Mortgagor in and- to-the- same; .and every part and. parcel thereof unto Mortgagee.
• Mortgagor warrants that Mortgagor has a good and marketable title to an indefeasible fee
estate in the- real property comprising the Mortgaged Property subject to na -lien; charge or
encumbrance except (i) that certain first. mortgage of equal date herewith in favor of Emigrant
Mortgage Company,. Inc. (the "1st Mortgagee") in the original principal amount of $300,000.00
• (the "1st Mortgage"), and (ii) such as Mortgagee has agreed. to accept in writing,. and Mortgagor
covenants that this Mortgage is and will- remain a valid and enforceable second mortgage- on the
Mortgaged Property subject only to the exceptions herein provided. Mortgagor has full power
and lawful authority to mortgage the Mortgaged Property in the manner and form herein done-
. or intended hereafter to be done, Mortgagor will preserve such title and will forever warrant and
defend the same to Mortgagee and will forever warrant and defend the validity and priority of
the lien hereof against the claims of all persons and parties whomsoever.
Mortgagor will-, at the cost of Mortgagor, and without expense to Mortgagee,. do,
execute, acknowledge and deliver all and every such further acts, deeds, conveyances,
mortgages, assignments, notices of assignment, transfers and assurances as Mortgagee shall from
time to time require in order to preserve the priority of the lien of this Mortgage or to facilitate
the performance of the terms hereof.
• PROVIDED,.. HOWEVER, that if Mortgagor shall pay to Mortgagee the indebtedness
in the principal sum of One Hundred Twenty-Five Thousand Dollars ($125,000.00) as evidenced
by a certain secured. promissory note (the- "Note"), of even date herewith, executed by
Mortgagor and payable to order of Mortgagee, with interest and upon the terms- as provided
• therein, and together with all other sums advanced by Mortgagee to or on behalf of Mortgagor
• Page 2 of 8
•
LJ
ORa 1 t i 3$ Pg i 28~t
pnrc~nt to the Note or this Mortgage, the final maturity date of the Note and Mortgage being
Mav 17.2004, and shall perform all other covenants and conditions of the Note,-all of the teams
• of which Note are incorporated herein by reference as though set forth fully herein, and of any
renewal, extension or modification,. thereof and of this Mortgage, then this Mortgage and the
estate hereby created shall cease and. terminate.
Mortgagor further covenants and agrees with Mortgagee as follows:
1. To pay all, sums, including interest secured hereby when due, as provided for in
the Note and any renewal, extension or modification thereof and in this Mortgage, all such sums
to be payable in lawful money of the United States of America at Mortgagee's aforesaid address,
or at such other place as Mortgagee may designate in writing.
2. To pay when due, and without requiring any notice from Mortgagee, all taxes,
assessments of any type or nature and, other charges levied or assessed against. the Mortgaged.
Property or this Mortgage and produce receipts therefor upon demand. To immediately pay and
discharge any claim, lien or encumbrance against the Mortgaged Property which may be or
• become superior to this Mortgage and to permit no default or delinquency on any other lien,
encumbrance or charge against. the Mortgaged Property.
• 3. To promptly pay all taxes and assessments assessed or levied-under and by virtue
of any state, federal or municipal law or regulation hereafter passed, against Mortgagee upon
this Mortgage or the debt hereby secured, or upon its interest under this mortgage, provided
however, that the total amount so paid for. arly such- taxes pursuant to this paragraph together
• with interest payable on said indebtedness shall not exceed the highest lawful rate of interest in
Florida.
•
•
•
4. To keep the Mortgaged Property insured against loss or damage by fire, and all
perils insured against by an extended coverage endorsement, and such other risks and perils as
Mortgagee in its reasonable discretion may require. The policy or policies of _ such in.~ranse
shall be in the form in general use from time to time in the locality in which the Mortgaged.
Property is situated, shall be in such amount< as Mortgagee may reasonably require, shall be
issued by a company or companies approved by Mortgagee, and shall be delivered immediately
to and held by Mortgagee. Any and all amounts received by Mortgagee under any of such
policies may be applied by Mortgagee on the indebtedness secured hereby in such manner as
Mortgagee may, in its sole discretion, elect or, at the option of Mortgagee, the entire amount
so received or any part thereof may be released. Neither the application. nor the release of any
such amounts shall cure or waive any default. Upon exercise of the power of sale given in this
Mortgage or other acquisition of the Mortgaged Property or any part thereof by Mortgagee,. such
policies shall become the absolute property of Mortgagee.
5. To maintain the Mortgaged Property in good condition and repair, including but
not limited to the making of such repairs as Mortgagee may from time to time reasonably
Page 3 of 8
.r
• ' ORB 1 1 138 Pg i 281
n
LJ
determine to be necessary for the preservation of the Mortgaged Property and to not commit or
permit any waste thereof; and Mortgagee shall have the right to inspect the Mortgaged Property
• on reasonable notice to Mortgagor. -
6. To comply with all laws, ordinances, regulations, covenahts, conditions and
restrictions affecting ,the Mortgaged Property, and not to cause or permit any violation thereof.
7. If Mortgagor fails to pay the 1st Mortgage as required or -any claim, lien or
encumbrance which is superior to this Mortgage, or when due, any- tax or assessment or
in~~rance premium, or to keep the Mortgaged Property in repair, or shall commit or permit
waste, or if there be commenced any action or proceeding affecting the Mortgaged. Property or
the title thereto, or the interest of Mortgagee herein, including, but not limited to, eminent
domain and bankruptcy or reorganization proceedings, then Mortgagee, at its option, may pay
- said 1st Mortgage, claim, lien, encumbrance, tax, assessment or premium, with right of
subrogation thereunder, may make such repairs and take such steps as it deems advisable to
prevent or cure such waste, and may appear in any such action or proceeding. and retain counsel
therein, and take such action therein as Mortgagee deems advisable, and for any of such
• purposes Mortgagee may advance such sums of money, including all interest, costs, reasonable.
attorney's fees and. other items of expense as it deems necessary. Mortgagee shall be the sole
judge of the legality, validity and priority of any such claim, lien, encumbrance, tax assessment
• -and premium and of the- amount necessary to be paid in satisfaction thereof. Mortgagee shall
not be held accountable for any delay in making any such payment, which delay may result in
-any additional interest, costs, charges, expenses or otherwise.
• $. Mortgagor will pay to Mortgagee,. immediately and without demand, all sums of
money advanced by Mortgagee to protect the security hereof pursuant to this Mortgage,
including all interest, ,costs, reasonable attorney's fees and other items of expense, together with
interest on each such advancement at the highest lawful rate of interest per- annum allowed by
the law of the State of Florida, and all such sums and interest. thereon shall be secured hereby.
•
9. If default be made in payment. of any installment of principal or interest of the
Note or any part thereof when due, or in the payment of the 1st Mortgage, or in payment, when
due, or any other sum secured hereby, or in performance of any of Mortgagor's obligations,
covenants or agreements hereunder, all of the indebtedness secured hereby shall become and be
immediately due and payable at the option of Mortgagee, without notice or demand which are
hereby expressly waived, in which event Mortgagee may- avail itself of all rights and. remedies,
at law or in equity, and this Mortgage may be foreclosed with all rights and remedies afforded
by the laws of Florida and Mortgagor shall pay all costs, charges and expenses thereof,
including a reasonable attorney's fee, including all such costs, expenses .and attorney's fees for
any retrial, rehearing or appeals. The- indebtedness secured hereby shall bear interest at the
highest lawful rate of interest per annum allowed by the law of the State of Florida from and
after the date of any such default of Mortgagor. If the Note provides for instalment payments,
the Mortgagee may, at its option,. collect a late charge as may be provided for in the Note,. to
Page 4 of 8
• DID. i i 138 Pq i 282
•
reimburse the Mortgagee for expenses in collecting and servicing such instalment payments.
• 10. )f default be made in payment, when due, of any indebtedness secured hereby,
or in performance of any of Mortgagor's obligations, covenants or agreement hereunder:.
(a) Mortgagee is authorized at any time with notice, in its sole discretion to
enter upon and take possession of the Mortgaged Property or any part thereof, to perform any
acts Mortgagee deems necessary or proper to conserve the security and to collect and receive
all rents, issued and profits thereof, including those past due as well as those accruing thereafter;
and
(b) Mortgagee-shall be entitled, as a matter of strict right, without notice and
exparte, and without regard to the value or occupancy of the security, or the solvency of
Mortgagor, or the adequacy of the Mortgaged .Property as security for the. Note, to have a
receiver appointed to enter upon and take possession of the Mortgaged Property, collect the rents
and. profits therefrom and-apply the same as the court may direct, such receiver to have all the
rights and powers permitted under the laws of Florida.
• l:n either such case,. Mortgagee or the receiver may also take possession of, and for these
purposes use, any and all personal property which is a part of the Mortgage Property. The
expense (including receiver's fees, counsel fees, costs and agent's compensation) incurred
pursuant to the powers herein contained shall be secured hereby. Mortgagee shall (after payment
of all costs and expenses incurred) apply such rents, issues and profits received by it on the
indebtedness secured hereby in such order as~ Mortgagee determines. The right to enter and take
possession of the- Mortgaged Property, to manage and operate the same, and to collect the rents,
issues and profits thereof, whether by a receiver or otherwise, shall be cumulative to any other
right or remedy hereunder or afforded by law, and may be exercised concurrently therewith or
independently thereof. Mortgagee. shall be liable to account only for such rents, issues grid
profits actually received by Mortgagee.
11. If the indebtedness secured hereby is now or hereafter further secured by chattel
mortgages, security interests, financing statements, pledges,. contracts of guaranty, or other
securities, or if the Mortgaged Property hereby encumbered consists of more than one parcel of
real property, Mortgagee may at its option exhaust any one or more of said securities and
security hereunder, or -such parcels of the security hereunder, either concufrently or
independently, and in such order as it may determine.
12. This Mortgage shall secure not only existing indebtedness, but also such. future
advances, whether such advances are obligatory or to be made at the- option of Mortgagee, or
• otherwise,. as are made within twenty (20) years from the date hereof,. to the same extent as if
such future advances were made on the date of the execution of this Mortgage, but such secured
indebtedness shall not exceed at any time the maximum principal amount of two times- -the
• amour of the Note,. plus- interest thereon, and any disbursements made for the payment of taxes,
Page 5 of 8
• ~~.
t]RB 1 i 13~ Pg *. X83
levies, or insurance on the Mortga ed Pro e
g p rty, with interest on such disbursements. Any such
future advances, whether obligatory or to be made at the option of the Mortgagee, or otherwise,
• may be made either prior to or after the due date of the Note or any other notes secured by this
Mortgage. This Mortgage is given for the specific purpose of securing any and all indebtedness
by the Mortgagor to Mortgagee (but in no event shall the secured indebtedness exceed at any
time the maximum principal amount set forth in this paragraph) in whatever manner this
indebtedness may be; evidenced or represented, until this Mortgage is satisfied of record. All
covenants and agreements contained in this Mortgage shall be applicable to all future advances
made by Mortgagee to Mortgagor under this future advance clause.
13 . No delay by Mortgagee in exercising any right or remedy hereunder, or otherwise
afforded by Iaw, shall operate as a waiver thereof or preclude the exercise thereof during the
continuance of any default hereunder. No waiver by Mortgagee of any default shall constitute
a waiver of or consent to subsequent defaults. No failure of Mortgagee to exercise any option
herein given to accelerate maturity of the debt hereby secured, no forbearance by Mortgagee
before or after the exercise of such option and no withdrawal or abandonment of foreclosure
proceeding by Mortgagee shall be taken or construed as a waiver of its right to exercise such
• option or to accelerate the maturity of the debt hereby secured by reason of any. past, present
or future. default on the part of Mortgagor; and, in like manner, the procurement of insurance
or the payment of taxes or other liens or charges by Mortgagee shall not be taken or construed
as a waiver of-its right to accelerate the maturity of the debt hereby secured.
14. Without affecting the liability of Mortgagor or any other person (except any
person expressly released in writing) for payment of any indebtedness secured hereby or for
performance of any obligation contained herein, and without affecting the rights of Mortgagee
with respect to any security not expressly released in writing, Mortgagee -may, at any time and
-from time to time, either before or after the maturity of said note, and without notice or consent:
(a) Release any person liable for payment of all or any part of the indebtedness
or for performance of any obligation;
(b) Make any agreement extending the time or otherwise altering the terms of
payment of all or any part of the indebtedness, or modifying or waiving any obligation, or
subordinating, modifying or otherwise dealing with the lien or charge- hereof;
(c)
have;
(d)
(e)
indebtedness, inci
Exercise or refrain from exercising or waive any right Mortgagee may
Accept additional security of any kind; and
Release or otherwise deal with any property, real or personal, securing the
uding all or any part of the Mortgaged Property..
Page 6 of 8
. ~ ~ _
ORB ~ i ~ 3~ Pg 1 Z~~
15. In the event of condemnation proceedings of the Mortgaged Pro erty, the award.
P
or compensation payable thereunder is hereby assigned to and shall be paid to Mortgagee.
Mortgagee shall be under no obligation to question the amount of any such. award or
compensation and may accept the same in the amount in which. the same shall be paid. In any
such condemnation proceedings, Mortgagee may be represented by counsel selected by
Mortgagee. The proceeds of any award or compensation so received shall,. at the option of
Mortgagee, either be'applied to the prepayment of the Note and at the rate of interest provided
therein, .regardless of the rate of interest payable on the award by the condemning authority, or
at the option of Mortgagee, such award shall be paid over to Mortgagor for restoration of the
Mortgaged Property.
16. if all or any part of the Mortgaged Property, or any interest therein, is sold,
conveyed, transferred or further encumbered by Mortgagor without Mortgagee's prior written
consent, then and in that event, Mortgagee- may declare.. all sums secured by-this Mortgage to
be immediately due and payable. Mortgagee shall have waived such option to accelerate if,
prior to the sale, transfer or conveyance, Mortgagee and the person or entity to whom the
Mortgaged Property is to be sold or transferred. reach agreement in writing that the credit of
such person or .entity is satisfactory to Mortgagee and that the interest payable on the sums
• secured by this Mortgage shall be at such rate as Mortgagee shall request. If Mortgagee has
waived this option to accelerate as provided in this Paragraph, and if Mortgagor's successor in
interest has executed a written assumption agreement, accepted in writing by Mortgagee;
Mortgagee shall release Mortgagor from all obligations under this Mortgage and the Note:
I7. In the event any one or more of the provisions .contained in this Mortgage or in
the Note shall for any reason be held to be invalid, illegal or unenforceable in any- respect, such
invalidity, illegality or unenforceability shall, at the option. of the Mortgagee, not affect any
other provisions of this. Mortgage, but this Mortgage shall be construed as if such invalid, illegal
or unenforceable provision had never been contained herein or therein. The total interest
payable pnr~~ant to the Note. or this Mortgage shall not in any one year exceed the highest
lawful rate of interest allowed. by the law of the State of Florida.
18. The covenants and agreements here•:n contained shall bind. and the benefits and
advantages shall inure to the respective heirs, executors, administrators, successors and assigns
of the parties hereto: Wherever used, the singular number shall include the plural the singular,
and the use of any gender shall be applicable to all genders. All covenants, agreements and
undertakings shall be joint and several. In the event additional numbered covenants or
paragraphs are for convenience inserted in this Mortgage, such additional-covenants shall be read
and given effect as though following this covenant in consecutive- order.
•
•
. Page ? of 8
• .,
•
` OIi.. i i 138 Pq 1286
FROTHY H. YIlfiEN, IlERK PB CQNT~F, FL
EXHIBIT nA~r
U
LEGAL DESCRIPTION
•
•
r:
•
A parcel of land in Government Lot 4, Section 30, Township 40
South, Range 43 East, County of Palm Beach, State of Florida,, more
particularly described as follows:
Beginning at a point in a line parallel to-and 1157.52 feet
northerly from measured at right angles to, the South line of
Section 30 at a distance of 1183.07 feet easterly from, measured
along said parallel line, the easterly right of way line of State
Road No. 5 (II. S. Highway No. 1), as shown on State Road
Department's. Right-of-Way map recorded in-State and County Road
Plat Book 2, Pages. 1.05 to 118, inclusive, of the public records of
the County of Palm Beach, State of Florida; thence southerly making
an angle with said parallel line, measured from West to South, of
104 degrees, 30 minutes,. a distance of 414.92 feet to the point of
beginning and the Northwest corner of the.-parcel of land herein
described; thence- easterly, at right angles to the preceding
course, a distance of 115 feet,. .more or less, to the waters of
Jupiter Sound; thence southerly,-along the waters. of Jupiter Sound,
a distance of 80 feet, more of less, to a point in a line parallel
to, and. 80 feet southerly from, measured at right angles. to, the
northerly .line hereof; thence westerly, along said parallel Iine,
a distance of 95 feet, more or less,. to a point in the arc of a
circle concave to -the West, and having a radius of 50 feet and
whose center lies in the westerly extension of this-last described
course; thence northerly,. along the arc of said circle, a distance
of 46.36 feet to a point in a line running southerly from the point
of beginning at right angles to the-northerly line hereof ; thence
northerly, along said northerly and southerly line, a distance~of
40 feet to the point of beginning.
ARA Lot 62, Waterway Village, an unrecorded plat of the County of
Palm Beach, State of Florida.
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