HomeMy WebLinkAbout0631 ~turtKaRor. In event u( fotetloturt u[ tAi~ uiortRr~r ur other tr~nder o( tide ta .he wort6~6ed prup?erl~ in ralinguiahmcni u( th~ i~~debt•
ed~~ess ~ecur~ed 6ereby, rll ri~ht, tide awd interert of t6t ~1ortR~Eor in and tv anr in~urance paliciea then in [ore~ ~h~ll p~ee tu 16~
Qurcharer ur stmtee. ~
(h1 To perfetm~ compl~ r+itL and abide br ese6 aad everr th~ stipul~tiotu, aRree~neatr, coaditione ~uJ cuv~nrnts in N~i~3 proa~iseor~
nute aod ie e6i. deed ~ct fsrth.
(i) That iE aar d a~id ~nm~ of money 6erein reicrred to }?e nd prumptly aod fullr paid within tYtt~eii drr• arit
rfter tht ~aune ~tverrU~ betema due ~nd prrable, ur if eseb and e+•ery tha oupul~tiom, asrecuyentr, eund~tiunn and eu~tuanu of said
~cuu~iwory note aqd thia deed, or eit6er, are not tullr perforwed, co~uplied with and ahidsd by, t6e wid s~RreRrte su~u mentioned in
~ui~! prorui~soe7 oot~ sball becaat due and pay~bk forthwit6 ur thercdter rt the uptioa of t6e ~1urtRr~et aa [ully •nd completeiy u
if the eaid asgesate wm of ~taid promissor~ note wa~ oriRinally rtipul~trd te t?e paid on ~urh d~y, anyt6inh in wid promiwotr aett
~~n c~rein ta d~e roatnrr nMwithst~ndin6.
t j 1 Thrt i~ order tu aeetlente tl~e nuturitr od the indebtednese hereby secured, becruae uf tlic (rilure o( tbe MertRaRor to prr an7
tyt, ea~eeuncnt, tiabilitr~ obll~ii0~l or encumbranee upon erid property, ae herein yro.iJed, it yhrll u~.t bc nccessatY vr rcquisite th~t
tl~~• ~~rortgaRer ~hall tint par the esme.
T1?t ~Tortaagee may, at hie option, and without w~iving lua right to •rccelerate the indebtednee~e herr,by
~~ured rnd to foreclaee the same, pay either before or after delinqueacy auy ur ;~Il of thoae certain obligationn
.equired by the terme hercoi to be paid by the Mortgagor for the protectiun of the mortgat;e aecurity or for the collec-
tion of the iiidebtedneae hereby eecured. All aum~ ~ advane+ed or paid by tht l~lortga~r.e nliall be charged into the
mortgage account and become an integral part thereot, 9ubject in ali reapect~ to the ternia, coi~~itiun~, and coven~nta
uf the afureaaid promieaory notc, and thie mortga~e, atr fuliy ~nd to the uame eztent ua thuugl~ a part of the origin~l
indr.btedneae e~~idetscr,d by aaid note and secured by thie martgage, e~ceptin~ huwe~er, ihat said ~u~nw ehali be repaid
tlte ~1ortRagee forthw•ith upon its de~nand and be iu addition ta tlie regular mo?ethly in3tallneeiits provided by the
~~?urtg~xe note.
3. 'That tlie ab~tract or ahstracte af title covering the mori~ageal pto~ert)~ a6a11 at ~ll time~, during the li[e of
thiri uiort~;age, remain in poeeeasiau of the ;~Iort6Ygce and 'ui er•eut of the forecloeure of ihi~ niortgage or uther transfer
' nf title to thc nwrtKaged pmpetty iu extin~uieitment of the indtbted~ies+ decured herrb}~, all riRht, title an~i i~ntereat
~ of the ilortgagor ia and to any auch abetracte of tiilt i~hali pasa to the Fnrchaser or grante.e.
4. `lo the eKtent of i6e indebiedneee of the :4iortgagur to tl~e ~lorigagee descrihed herein ur secured heee.b}',
the '_1~ortgagee i~~ hereby subrogated to the lien or liena and tu the rights of tl~e o~rner~ autl ltoldera thereof of each
and every' mortgage. i~tn or other incnmbranee on ihe lrnd describe~l iierein w~iiicL ia paid :+nd;'ur ;alie6ed, in whole
or in part, out of the proceeds of the loan described htrtin or yecumd hereb~-, :+ud tl~e rra~?eclive IienK of a$id anort-
~agee, liens or other incumbrances, ahall be aud the aame snd each uf t}~ein here:L~ i~ ~~re:9erved aud ahall paaa to ~nd
!ie hrtti b~• the '.1'Iort~agee hereie ae aecurity for the indebtednr,~~ tu thr :tlort~agee herein dPSCribed or hrrebs~ eecured,
to ttie same extent that it w-auld have ~een preeen~ed and woult~ ha~e been aseCd to atid beer? held the ilort~a~ee
~iad it heen +iul}~ anrl regularly aeai~~ed, traneferred, set over, :~nd ~ieli~cre~~ uuto the j7ortra~;E~e• 1~~ ~r}~aratP deed of
a:u.i~iment, n~twithatanding th~ fact that the same may bez eatisfied a»d canceiled of record, it t~ein~ thr ii~tention oC the
j~arties hereto tha4 the same will ll?e. eatiafied and c~ncelleci of record bS• ihe holdera therP~~i at r~r :~fa~;~~t thr. tirne c?f
the recurdin~ nf this mort~a~e.
5. In the event the ownerehip of the mortgaged premi3rs, or an~ Y?art tliereuf, }~ecomrs ~e~ted iti a E?er~vn other
than tlie bturt~agar, tite 1lortgaKee may, without notice to t~e ':V~ort~agor, dr.al with Ruch rucceawor ~~r ~ucceaeors in
i~~tere.t ~.~ith reference to this deed and the debt hereby eecured, in *.he y:~n~e manner a; H•ith the ~1orlraror without
iu anv way ~•itiatin~ or diacharging the '1'iort{~a~or'e liability herrunder or iip~n t}ae debt hereb}' ~~'ured. No sale of
tl~e 1?rr.tneseR lierebe' mort agrd and no forbearancr on the part of the '~iortRa~ee, and no eYtenwion ~zf the time For the
ae
~>ay~nrni of the debt here secured ~iven by the Mortg~gee ehall operate to rel~a±~r, digcliar~e, inodifr-, chan~e or affeclt
the oririnal iiabilit~~ of the 1'Iortga~or herein either in whde or in part.
Fi. '1')i~ lien of thie deed e~ect~rea and ehall ca~tinue to secure pn~~me~it uf ~aid ii~debtedneas or indebtednese,
I~~N•er~er e~•id~nccd, whether b)' aaid ~romieeory note or anv renewal or extenAion thereoF or aubc~titute therefor, or
~~tLerwise, ~~ntil all euch indebtedncxse Rhall have been fuil~• ~~id.
7. ln tlr~~ ci~e~tt tlie mnrt~n~rors sell, roni~e'~' rn- hi~~ts(c~~ 11rr nrr~rt~rn~erl ~>rr~mist~s rlt~ti~t~~ Ihr lrje r>f lltis ~nnrt~?~~,:;r,
tlrr ~t this ntml,(~n{~e .tlrall, nt tlte u~tio~F of the ,lfort`a~;~< irerrirr. l,rcnr~r~° im~iif~lirilel~• d?r~ and I~n~~able fnr tlic /ttll sc~»i r~f
t11c~ ~rr~~ci~nl l~nlanc~ eiraci i~tter~est the~a due.
g. 't'l2~. ~A,~,,,9 "Mnrtraaonr" "Mnrt~TSrr" wl~rnrvPr tlwre~ in thia inQtr~irnpnt yl~:~ll incl~iilp the hN;rR, n~_..~.,al
m~ireqentati~~es, 9uccesaors and aeei~ne ~f' th~ reApective partiee hereto. ~Vherever uaed the ~ingular number shall include
the plural and the p~ural the eingular, and the uae of anJ• Render sha11 inclvde all ~ender~+.
Si~ned, Bealed and delivered in the presence of: (SE~L)
~ . ; ~ . f~,/~
' •--Z' f~~/Z~~._.. . c~~C- C..'4" ' ~G ~7L (SEAL~
_ ~ _ /`"-~Y. .
~
~T'ATE O~' ~'LORiDA
1;0U~~TY OF I~A~,~ ~
; t , - .
Before~me~personafly apPcared : i:.t.ci.:: ...;~a , i ; :~.i ~ ,
to me weil known and known to me to be the individuale deacribed in and who executed the foregoing inatrument, and
, acicnowledged before me that they esecuted tiie eame far the ~urpv~e therein expre~eed. WITNESS my hand and
o$'iciAl seal in tl.z Cc?uut}• ~nd State l~et aforesaid thie t: i c.i a}' o;~ ' i<<;- ,
No4a P / ` .
?Y ublic, State of F;o~ida at Large ~ '
. _ _ . . . r . :
8oR e~ ~~sion Expires J~ne 30, 1963 ~ -
8!' pmerican Surety Co. of fV. Y.
M~- (:ommiseion Expirea: :~Iots+rv Pul~lic, State of ~-.-t°~,
• ,
F1LED AND R~CO~DE~ _ ~
- ~ O O K ~ ~ - , _
, . ~g,c~,•-L'~ , :
- . - , '65 I' ~Y 2 7 PM 3 : 0 7 - .
r~~ .
ROv~~~ ~G~ i hi~S. G! ERK ~t7~K~~~
~ ~ ~ ~i. LU~I~ COUNT'Y,
- ; F~ORlD~