HomeMy WebLinkAbout0495 ~~rtppr. L evert +t (~areelesare ot tfw mortp6e ut other tttrater of title t~ tire mr+rip~ed pt+~artr ia extin~i~~eat oi tbe isdebt-
edeer ~eeu~ed Lereb~~ ~11 riRht, tidc aed intere~t ~t t6e Mori~or i~a aad to oa~ iasne~noe pol~cia the~ ir (~ru ~hall pw t~ t6e
Naerhwr ~r ~~rMe.
To pe(w~r~. e+~p~7 witl~ ud abidc br aic6 ~ad every the Mipul~tiwr, a~ree~oeat~. c+4ditioer and csveaaab ir wid premiwr~
oete asd i~ t~ ieed iet t.rt6.
(I) 'l3~t if ~~I rid uuw ~t m~oe~ 6ereio rcfe~red ta be nnt p~+u+ptl~r .rd i~llr pafi aitl~i~ ritteen d~r ~est
dte~ the rrree renenll~ betwne~ due ¦.d p.r.ble, ~r if eacb sad erer~ ~ae ~tipu4tieos. ~=reeao~cnt~, cwditiow~ aad eovan~ets ~t Mid
pt+~irwer ~r4e wd tifis deed er eitbcr~ are wN fdl~ periw~med. complied ~rit6 ~nd nbidc~ by. tLe s~id a~repte ~wn mr.ntioaed in
Mid pwmiMecr Mte ~11 becove dne and W7ahle foct6with er thereatte~ st tl~e optioa d the Mort~.~ee a~ tnll~ u+d cNapletelr w
it tbe ~d p~s aun ~t wid promirewr eote Ma~ oripo~lly ~tipul~ted to be wid o~ ~nch dq•, anythi~~ ia ~aid p~wep r~ee
or heeeio N lie sMtnr7 o+tM'itlutandiw~.
( j) T6+rt ia ~rder t~ ~ccelente tYe autnrity o( t6e iadebudaeM Merebr aecured, becawe ~f t6e (silure o( t~s ll~rtp`K t~ pa~ u7
cax, ~a~ewenent, liabilitr. ~bliptiN sr encua~braace upqo .rid ~ropenr, as berein provided. it ~Lall noc be neceNar~ K requieite t6~t
the wortsa6ee si~al! fi~st p~r ihe wae.
2. TLe Mat~a~ee may, at his optioa, and without waivin6 lue risht to accelerate the indebtedner hereby
~ecured and to foreclwe the ~ame, pay either befort or after derl'inqutncy an or all of thoee certain abli~atiane
n
t~eqnirod by t6e tecm~ hereof to be paid by the ~Iortga or for the protection of t t niortgage eecurity or for the collea
tion of the iindebtednws htreby secured. All sume w a~vanced or paid by the Mortgagec s~al! be charg~ed into the
mort6age account and b~ecorue an integr~l part ihcreof'. aubject ia all reepecta to t6e ternie, conditions, and covenantr
of tbe aforeeaid promiesory note, and thie mort~a~e, as fully and to tLe same ~rtcnt aa though a part o[ the nri~inal
indebtednese e~ideaced by eaid note and eecured by thie mortgagt, exocpting however, that said eau?e ihall be repaid
the Murtgagee forthwith upon ite demand snd be in addidan to the regular n~onthly installmente provided by the
~nortgage note.
3. That tl~e abetract or abatracts of tide coverin6 the morigaged propert}' sl,atl at all timee, durin6 the Gfe of
;hie inortgage, reraain i~n poaseseion of the 11~ort~~gee and in event of the fozecloeure of thie mortgaae or othtr tranafer
of title Yo the n?ortgaged pcoperty in extinguishment of t6e indebtedma9 eecured htreby, all right, dtle and interest
oC the biortgagor ia and to any auch abatracta of title shall paes to the p»rchaeer or grantee.
4. 'I'o the extent of the indebtedaeae of the Mortgagor to the Mortgagee describcd herein or accut+ed hereby,
ttte I11ortg~gc~e ia hereby subrngated to d~e lien or liens a~d to the ri~hte o[ tl~e ownere and holdere thereof af each
and every mortgYg~e, lien or other incumbrance on the land describerl hcrein which ie paid and/or eatie6ed, in whole
~r in part, out of the proceede of t6e loan dtscribed herein or aecured hertby. xnd t}?e reapective liwe of s:id mort-
ga~es, liens or other incumbranc~s, ehsll be ~uud t6e same and each o( the~n hereb~~ ie preeerved and e6a11 paes ta and
be held b~• thz Mortgagce herean se eecurity for the indebtednee«, to the 111ort~agee herein described or hereby secured,
to the same extent that it N-ould have been preeer~~ed and would have heen paeeed to and been held by the Mortaagee
had it been duly and regularly asei~,nied, trensferred, eet over, and delir~ereci ui~to the Mortgagee bg• 6eparate deed of
1~ai~iment, notwithetandin6 the fart t~at the eame may be eatiRfied and cancelled o[ record, it being the intention of the
partiee hereto that the same will be aatisGed and cancellc+d of eecor~ by- the holde~a thereof at or about the time of
the rrcordinK of this mortga6e.
5. In the event the ownerehip of the mortg~ged premisee, or any part tl~ereof~ becc~mea veeted in a pereou oik~er
than tlie Mortgagor, the'_1lortgagee may, without notice to ~e Mort~agor, deal wit{? duch euccesaor or aucceasors in
it~tereRt ~+•ith r~ference io thie deed and the debt hereby eecured, in tl~e same manner a~ with the Mortgagoe without
in a~tiv way ~~tiatins or diecharging the Mortgagur'e liabilitf~ ht.rcunder or upon the debt hereby secured. No sale of
tLe ~~ren?isea hereb)~ mortga~ed and no forbear~nce ou the pwrt of the !~tortqapee, and nu extension of the time for the
payment of the debt hereb~- secnred given by the Mortgagec aha11 operatc to rele~se, di4char~e, modiCy, change or afiect
the ori~ina! liabilit}' af ihe Mortgaqor herein either in whole or in part.
b. The lien of thie cleed aecurea and ehall continue to eecure pati•ment of Raid indebtedneea or indebtedneee,
I,owecer evidenced, whether b'• said promieeory note or pny renewal or exteneion thereof or eubetitute therefor, or
otleerwis~e, until all euch iadebtedae~e shal! have been [ulh- rAid.
7. li~ the e~~ent the n~nrt~atiors sell, rortt~ey or' transfer ll~e rnnrt~a~ed ~remise.s durin~ tlic~ life oJ this rnort~rr~*e,
tlten tJtis n:m-t~a~e shnll, at tlte oJ~tion of the Afort~a~r~E~ hereiu, hern~ne i~nntcdintell~ rtt~e rntd ria~~nble for the full s~u,t oj
tlie fi~ri»c ~~inl Laf<~~ice n~rd interest then due.
8. The terme "Mortgagor" and "Mortgagee" whe~xever uaed iu this ingtrutne~t Ahaii include the heire, p~rsonal
relirewentativee, eucceeaors and aeei~ne c?f the reapective partiee hereto. Whcrever ur~d the e~ingular number ahall include
the plnral and the plu:al the singular, and the uge of any gender shall includc all gendere.
Signed, aealed and delivtred ia dic presence of: ~~1-t, ~~:.tC..- !r~%~t-.C ~`~t"c-r..,.- (Ser?L)
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J,,4_4;:~vctY.. , ~'7~1-f'~'.•~.. _ _ {SEAL~
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STATE OF FLORIDA
t;OUNTY OF ~]C ss ~
ST. IrIIC ~ J
Before rne pereonally aPPeartd 1~iFLB1. MiALLACEo an u~a~~d wawtu~
to me welt known and known to me to be the individuale describcd in and who executed the faregoing ineirum~nt, und
acknowledged before ms that they executed the eame for 4he purpoeea therein expreseed. WITiHESS my hend and
a~cial ~a! in the : ounty ~nd State Lst aforesaid thie 1 th d8y of Ao~~1Rb , 19 5~
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Mr~ ~p~t~n~as' ' • _ ,,....t . Notr~ry Public, State of FlOrids -.,l.'' r`' - _
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ST. LUCIE GGU~r' i Y, ' ~ k 1~~ L~~~
FLORlDA ' 60GK
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