HomeMy WebLinkAbout1432 Mertp~er. In eveat twceclwure o( t6is inortpsc ~r et6er titrder ~t title ts tbe m~rtpsed pr+pcrtr in citin6ui~hnient o( ?be iedeM•
edn~w ~ecured `ereby, aq ri~t. title aad intere~t ~f the Mort~or ia md ta m~ i~anixe poli~ie~ tl~en in force ohall pssr t• tbe
purcbrsr ~r rnrte~c.
To pert~rm~ ewrplr witL a~d abide b~ eac6 ard ever~ tbe t6pulatiea~ ageemeats, c~aditio?u rud covewnt~ ie uid p~wnis~erf
note ~od is t`is deed ~et torth.
(~l 'I'6+t it a~r rt rid ~~u af m~ee~ 6e~eie ceferred to be ad p~mpd a~d fullr psl~ xitliir i9lteen drri rext
aftar tht wue ~everali~ becemer dae and p~rable, er i( arch asd everr ~~tipulouiwu, i~t'tERIlA11~ condidew and eovenasu et ~aid
promisMr~ ~ote a~d tk'L deed, or either, are not tullr peridrmed, com~lied .+i~L .nd .bided br~ tbe raid a~6repte •um meatioaed in
wid p~+a~i~wry aote ~iall becowe dYe a„d parablc tott6~vitl~ x tberea(ter at the option ei t6e bort~see a~ ldlr aad ~aapletelr ~
if the aaid pte srrn o( ~aid pradi~wc7- note war ati~inally ~tipulated to be vaid o~ ~ueh day, anytLia` i~ ~aid pnaiaMrr ~
or he~eio to t6e eo~trsrr netwithu~ndina.
l)1 Th~t in order t~ ~eeeknte t6e m~tority vf the indeMeaoer 6ercbr ~ecured, bec~we ef the f~iluce o( tLe Dl~rtp`~r to p~l ~a7
trx~ iweracnent, Liabilit~. ~blipti~ oe eAeeunbrance upos said property. ~ 6eccie pro~~ded. it ~hall not be e~ete~sarr ~r requi~ite tlut
zh~ ,~~on~~ .t~alt 6ca ~ar ~h~ wne.
2. Ti}e Mo~caag~ inay, at his opdon, and without waivin~ lus right to accelerate the indebtadneas hereby
eecured and to fonxlwt the same, par eitber btfore ot after delinqutncy aoy or all of thoee certaia obli~atione
reqaired by the ternu 6ereof tu be paid by the Mortgagor for the proteedon of the mortgage security or for the oollce-
tion of the indebtedne~s hereby ~cured, All sumr ao advanecd or paid by the dlortga~e;e ehall be charg~td into ths
mortgage accouat and bei.~ome an integr~l part thereof, ~ubject in ai! rt,rpects to the ternie, conditions, und covenants
uf the aforeaaid promieeory note, ~d thie mortga~e, aa Eully and to tht eame extent as thouah a p~rt of the ori6ina!
indebte+dneas e~~idenced by eaid note and secured by thie mortgage, e~cepting huwe~~er, that 5tlld eume shall be repaid
the Mortgagee forthwith upon ite deruand and be in addition to the regular monthly insts~llmente provided by the
~noctg~ge note.
3. That tlie a~tract or abetracte of title coverin~ the mortgaged property slis~ll xt x11 timee, duris~g t6e Iife of
thi~+ ~nortg~ge, remain ib poset~eion of the '.1+Iortgagec and in e~~ent of the foreclosure of this mortga~e or uther tranafer
of title to the mortgagtd property iu extinguiehtteent of the indcbtedne~~ eecured hereby, all right, title and intereet
of the biortga6or in and to any auth abstracta of title shall j~aes to the p~srchaser or grantce.
4. To the extent of the indtbttdne~e af tht Mort~agor to the Mortga6ee deecribed herein or eecured hereby,
the 1_1lartgagee is hereb~ aubrngated to the lien or liens and to the righte of tlie o~r~ere and holdere ther~eof of each
and every wort6age, lien or otlier incumbrance on the lYnd described herein Mhich ie paid and/or satie6ed, ia w6ole
or in part, out of the pracseda af the loan describtd hertin or ~ecuned hereby, and tiie reepective liens of said mort-
g~Ras, liens or other incumbrances, eh~ll be and tl~e aame and each of them hereb~- ie preaerved and ahall psea to ~nd
be held b~• t6e Mort~agee hec+eiu as eeeurity for the indebtednr~R to the 1liortgagee herein described or hereby eecured,
to ttxe same extent that it w-ould have ~l~een pc~eeen~ed and would ha~~e been paec~ed to and been held by the Mortgagee
had it been duly and regularly aeei6ued, tranaferred, eet over, and delirered ui t~e the Mortgagee b}• separate dee~i of
s~igiunent, notNithatanding the fact that the aame may be eatiefied and cancelled of reeord, it beiug the intention of the
l,artiee hereto that the eame will be aatis&ed and caucelled of r~cord by the holdera thereof ac or about the time of
tlie recording nf thie mort~~6e.
5. In the event the ownerahip of the mortgagtd prea~iges, ur any- part tl~ereof, becomes veated in a pereon othez
than tlie Mortgagor, the '_1'Iortgagee may~, without notice to the Mortgagor, de~l wit{a auch ducceeeor or succeaeors in
iiiterest h-ith reference to thie deed aud the debt hereby eecured, in thr va~ne manner ae with the '~iortga~or without
i~i :+m• wa~ ~~itiating or diechar~ing the Mortgagor'e liabilit}' hereu~der or upnn the debt hereby secured. No sale of
tlie prcmi~+ hereb)• ntortpagrd and no forbearance on the pari of' the i'[art~apee, and no exteneion of the time for the
~rayit~eut of the debt here1b}~ secured given by tht Mortgagee ahall operatc ta release, digcl~ar~e, modify-, change or aliect
the ori~inal liabilit~• of the ~tortga~or herein either in whole or in part.
fi. T1~e lien of thie deed secure9 and ahall contiaue to aecure pa~•meut of ~,aid inde'~tednee~ or indebtedne$s,
liax~er•er evidenctd, whether b~~ said promiseo rsote or any renerral or extecreion thereof ~r aubetitute thereFor, or
o21?erwiee, until all 6uch indebtedness ehall }~l~qyf~~~. m0~}qp
' 7. lit thf• ei~e~ii f/re r~inr!Rrmors sell. coj~~~~~, 1',(ra~¢f tr tlee mo~'l~,n~T~rl ~i~ ~n~i~+~'tl~is niurl~•~i~<<~,
t/rc~~r thi~ n:ort~n~e shnll, at t/re~ uption of the ~Yf~art~~~;7~~ /l~1fi~~~44~l~ii~lfi~clt~d~l~lll~y~le for the ftrll su~r> oj
t/r~~ prinrrf~nl bnlnn~c~ nird ir~terese then due.
together with dttrv
~i. 'Che terme ?1'Mortga~or" and M v ~s iq~trume t a ial~~i tre.lu~etth~~ heirs, ersonal
repre~ntati~•es, aucccseors and asei~na of the
re~ve'
p~iea~~~~i~r~ ~rt~teer Rhal1 include
thP pl«ral and the plural the ein~ilar, and t~~fV~41~~E~! ~sa~d~}~ ~age~
~i~ned, aealed and delivered in tLe preeence of: i~ _r~.~j.~~~`:~~ t- t~ Cr~-~ , (~E.+?i,)
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E_ a > ? ` _ '~7-- _ G `4r.+r . ,
, ~ Cv L r~"JY~..- ~ ~ t ~ ~ SEAL~
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~~i~A ~E OF F' ORIUA ~ `
(:OUiVTY OF~ ss ,
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~fa're me ClreEonaily~ a rared KENNETH A. IiATCH sud SANDNA G. HAx'CH ~ hi f e~
P~ FP
tv me well icnown and kno~.-n ta me to ~e the individuale deacri~d in and who executed the fore~oing, instrumept, aad
~ acknowledged before me that they executed the eame for tiae purpoeea eherein expreseed. ~"ES5 mv ha~nd and
ol~ficial seat in the County ancf State last aforeaaid thie ~$t day of M~y 1 5
n;ot~ y' 1
rY Public.~k of Fldrira ~t Lar e ~
~'?Y Commiss+on Expites June 30, 1~67 / ~ r'^`~~:•-Y
8unded B • _ . .
Y American Surety Co. of n. Y. . -
i1ti~ (:ornrnisisivn ~X~,~~6: ~It AND ~~GOR~DEUr'o ~ry~ ~uhr~ stRt~ ~r ,
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