HomeMy WebLinkAbout0549 MortKaRor. In eveat o( torrdo~ure thia iuurtRaBe ur uthe~ trindcr uf title to the murtKa~ed f~tupert~ in cxtin~uiahmenl uf iho ~ndrt~t-
ednes~ ~ecured 6ereby, rll ri~ht, tide •ud intererl of the NortRoRor in snd to any iruunnce polici~s then ia fonc ~hall paae to the
purr6a~et ut 6rawtee.
(6) Tu p~ee~~tm, r«apl~ wit~ aod abidc br tarh ¦n+~ cvtrr the Mipulrtioru~, aKrrsements, eonditio~e s+id cov~nanu in eaid promie~or~
nute rnd in t~ deed ~et (ort6.
(i) Tlut if ~nr af a~id o( mooe~ herein refcrred io Le nd }~rumptly and (uil~ paid within Pift<~r~? dar~ nczt
after the wue ~everall~ betomer due and parablt, ot if ead~ and every t6e stipulations. aRreeuients, cuudrtio~u and tovruanb of ~aiJ
4~rumiaorf sote a4d tLi~ deed, or eit6er, are not fnllr per(or~atd, co~uplit~ witL and abided by, thc usid a~Fre~le sum mentioned in
.rid pronii~so~ note sh~lt become dur and payrble forthwith or thercafter rt the pptiop oi the ilurtRr~ee as tully •ad co~npletely as
it the said •~arepte awn of aaid proaci~aory note wa~ ori~iaaUy •tipulated ta tx v~id oe ~uch day, anyt6inR in ~~id promiuon estc
ur herria to tdt cootrarr notwithstuedins.
! j! Thut in order to aeeelente the maturisy of th~ indebtednew hereby .ecurcd, I,cc~uee uf t4r (ailure uf tlx Mott~,a~tor tu Wy ~n~
tnx, sasebatnent, liability, obliR~ti~n ur en~wnbraner. upon erid property, re hcrrie pruvided, it abrll uot be n~cre~cary or requi~ue th~~
t6r u~ortSaRer ~hall tint pay the ramt.
Tlie 111urt~agtt ~nay, at hia oplion, and without waiving IiiQ ri~}xt to aa:celerate tt?r. iu~ebtedu~eee hereby
~ecured and to forecloee the eame, pay either before or :~fter delinqueneJ• any or all of ti?oae certain obligationn
requireci 6y the term~ hereo[ to be paid by the blortgagor for t6e protection oi thC n~ortgu~e ~rcurit~• or far the collec-
tion ol' th~ indebtednena hereby e~ecured. All aumn eo advanced or paid by the ~turtga~ee nhall be r.harged into ihe
mortgage account and ~e<.~ome an integrai part thtteof, 3ubject in uli reapecte to the. tern?e~, con~~itiune~, :end covenanta
uf the aforeewid prvmiaeary note, and thie mortg~~t, ste fuUy atid to the esame extent as thc~ugh a puri of the original
indebi~:dnet~e e~~ideiiced by Kaid nate and securtd by thie inortgage, ~~ceptin~ how•e~er, that ,aid rumF Rhall br, repaid
the btortgagee Forthwith u~on ita de~uand and bt iu addition to tlie re~ular moa~thl}' install~nenta provided }iy the
~uurtga~e note.
3. 1'hat tlie abf+tract or abBtracte of title covering i~r. n?ortpage~l property sliYll at all time~, during the liCe of
t~~ie ~~xort~;a~e~ remsiu in posaessioa of the :~Iurt~agee and in c:rr.nt of the forecloeure uf thie n~orlgag~ or other tranefer
of title to thc mori~aged pmperty iu extinguialunent nf the indebtedn~+y decured herrby, u11 eight, title apd intereei
of the M1~ortgagor in and io atiy eLCh abetracts of title ahall I,ara to the purchaeer or grantee.
4. 'I'o the extent of the indebtedueee of the Mortgagur to the 4lortgager deacrihcd herrin ur aecured hereby,
the ?~~ortgagee i~, hexeb~ aubrogattd to the lien or liene and to the rights uf tiie ownerx aud holdera thereof of each
aa~d e~ery• :uortgage, lien or other incumbraner vn the Iand devcribeu }terein ~+-hieli ie paid •rndjur satiatied, in wholc
or in part, out ot the proceeda of the loan described herein ar xecumd teereby, caud tl~e re~~?ective lienN.of aaid rnort•
~a~ea, liene or other incum6rancee, g}uJl be and the aame ~nd each uf theen hereb~ iy preaerved and shall paee to and
i~e hel~l b~~ the ~'Iort~agee herein ae securitr for tite inde6tedne+~K tu thr. liortgagee herein de;u~ribed or hereby secured,
tci tfae same extent thai it w-ould have been peeeen~ed and would ha~e l~een pasned to xud hcen held b~~ the :1'tort~a~ce
hxd ii be~en du17~ a~d rr~ulsrly ae+eip~~ed, traneferred, set over, a~?d ~ielirered u~~to the 11ort~aKr.r h~ .rE~arate deed of
a..;ip,~unent, notwithstandin~ the fact that the same may~ be eatiefied and cancelled oF recnrd, it heiu~ thr intention of the
~?;~rtie~ ]iereto that thr same wiil l~e aatisfied and c~ncelled of recur~i b}' the holdera thrrr~?f at or ~ih,:nt tt2e time oi
t~te rrr.~?rdinp of thie rnort~aae.
5. In the eveni the ownerehip of the mortgaged pre~ni~r~, ur an~ ~~are tliereof, becon~r~ .e;ted iii a prr~con other
than tlie ~1'Iort~agor. the itortgagee m:ty, withiout nutiee to the '~1ort~a~or, dral wi~h euch e~uccPa,uir ur ~ucceaewre in
i~itere~i w•ith referec~ce to thia dtr,d ~nd the debt hereby eecured, in tl~e san~e manner aw H~ith the ~1urt~a~or withaut
in :?u~• way ~ltiatin~ or dischargin~ the 'liortgagnr'e liabilits• hereuz~der or upon the. ciebt hereb~• ~ecured. i1`o eale of
tlte pren~i~ lierebJ• ntortgaged and no Corbearaner on the part of the ~1urt~a~ee, and no e~tenai~~n ~~f the time for the
~»v,nPe~t oF the debt hereb}~ secured r;iven by the Mortga~{e,e shall operate to releax~, divcliargP, ~no~lif~-, rhan~e or atTect
tt~e original liabilit~• of the Nortga~or herein either in wh~nle ar in part.
T1~e lien of thie deed aecurea and ehall continue to aecure pa~~meni uf ~.aid indFbtednea+ or indebtedness,
1~+~~•ei•er e~•idenced, whether by aaid promeesory note or any renewal or exteneio~i there~rf or Kubstitute ther~for, o~
otlierwise, until all euch indebtednras Rhall have been full~~ p~id.
Ill ~~lt' f'i'C)1f i!~e ~nrn~tgntrors sell. ~o»z~~ti• nr Fr~~~is(~~Y i~lf' 7!1f17'/~/t~P!j ~)1"P)111.SP.~ (1!ll~l)I? t~IC' 1~~G' ')f I~ll.i 1!'UY/~llti(',
tJ~en !his rrtmt~n~e slrnll.~zt the up:fo~t of the,lfoYt~;~ztifr ir~rer~t. ?~rirnne imnrt~dia!ri~; ~luc r,rtd~(~n;~Ule Jm' tl:e (ttll surir oj
thr~ ~~r~r~rriflnl bnlanre rind interest ther: due.
ti. "I~i~e terma "~~ort~a~or' an~i "ilioriga~ee" whenever uaed in this ie~~trumeut ah~ll inclu~le t6ie heirx, personal
reprrgentativea, encoe.ears and aeei~na of thc rexpective parties hereto. W herever ur~ed thc~ ~in~ular number A!-~ali include
the plural and the plural thc eingular, and the uee oE any ~er~der Khal) include all ~enderR~~ l
~
1~ `f ,
Si~ne~, eealed and delivered in the presen~e of: ~!"Z' V~L~~ (St.,ei,)
~,,5~~,:
~:Z o.c`~~"-~'-~ ~ 1.-~E'~i7s4SC-~....... f%~~~Z1C-.~j 2./ . _ . (`J~EAL~
~ . . _
STA'~'E OF FLORIDA ~
c:OUNTY OF II~~AA~.~ j ~s
~ L i~~ , .
.~v ~ii~ i~:~~_ .i- clil~._ :i•a-'-' ii:ti i~.i1~i'~
BCEQpiC lme peraona~ appeared T „5 , ~ , , , , . . '
to me well Icnc?wn and k~own to me to he the ind'aviduale deecribed in and who executed the foregoi~x~ iuetrument, ~~d
acknow9ed~td before me that they executed the eeme for the purpoaee therein expxeeaed. ~'I'fIV'ESS m~~ 6and and
o~cial eea! in tL,; County ~nd State laat aforearaid thie 1~? t: i ~ i:~}' c, tr~ , 1?~~
Notary Public, State ot Flarfda at Lar~e ~ •
~ ,
MY Commission Expires June 30, 19br . _ ,
8on~e~ sy American Surtty Co. of PI. Y. t .
M~',~.c?Tnmiee~on Expirea: ~ILE~~-~-.A~1D~ ~~-GORIIEO. Nac~ry- ~~t~i,~, se~Rz oE
~ ' ' ~ . ~E~tE~--~---8 0 0 K , ' _
~ - ~c*~ ~ . • , ,
. . '65 h';'Y 26 E : 44 . . ~
. , . . .
~ RUvc.+t ;'Li i ii,':S. ~:i_.ERK n ~
~ 5T. LUCtE COUNTY. ~OOx 1~~
, . : FLQRlD~; _ _