HomeMy WebLinkAbout0509 Msrtppr. Ia evest (oreelo~ur~e o( this mart~`c or othec tr~ufea title ts 1~ mortp~ed pt+pert7 ~n eYtin~ue~lur~eat od t6e iednbt-
edoar seeared I~erebr, rll rir6t, tetle aud intcrc~t ~f tLe Mact~or in uad to acr ewunoee polieie~ then iu ferce ~hrll pw t~ tbe
wrebwr ~r p~awtee.
T• per{~rm~ t+~ply w~ith a~d ~bide b~ eac~ rad everr t6e ~tipnl~tioa~ a~reeme~ta. e~aditioe~ and isrcnanb ir ~aid prwni~r7
nrte aad 'u tki~ rieed ~et t+tth.
(i) 'IL~t it a~r ~t ~id auw m~oer berein cefe~red to be ed pro~optl~aed fullr ~rid ~vit~i~ tllt~en d~r ~est
dta the Nune sevarill' becomee dae aod ~rsble, ~r it eacL aod every stipulatien~ rrreemtnu. eoaditiou~ ~nd eoveorsb o( Mid
pc~aiwrr wste ~d tYi~ deed, or eitheq ue not tullr pedarwed, coruplied with ~ad abided br. tLe ~aid r~~repte ~um meetiosed ia
Mid p~iMwry aet~e ~11 beeomt dre and payable tort6wit6 K thereattcr at t6e q~ptiaa ei the Hort~~ae a~ (ullr aad completely r
if tbe ~aid r~pe ~ate ~aa of ~aid promi~sory oac war vririnslly ~tipul~ted to be paid or ~nch dp•, ~nrt6ir~ iu ~aid p~iMM ~N~e
or berein t~ tl~e co~tr~ry netwitlutu~dies.
( j) Th~t in order t~ ~etele~te tl~e ~wt~trity ~f the indebtedoer Ikrtbr ~ecured. t?tc~use ot the iai9ure oI tLe Ill~rt6a~ec to p~r vrr
trx, wew+neny li~bility, a~Wi~ati~w ar enewnbrsace upoa ..,d propenr, a I~eteia p~ovided, it ~h~ll not be aece~srry K requisitt tlut
thc mortya6ee ~hsll 6r~t p~r t6e wne.
2. Tl~e Mortgagee may, at his option, and without wxiviag !us right to accelerate the indebtedne~s hereby
secured and to fan5claet the same, pay either before or after delinyueac~• anr or all o[ thaee certaia obli~atiaa~
reqnired by the Lernu het+eof' to be paid by the Mortgagor for t6e protection of the n~ortgage security or [or tbt oollecv
tion of the indebtednees hereby eecured. All aurnw so xdvancxd or paid by the Mortgagex shall be charged into the
martg~ge account And heeome an integral part thereof, aub}ect in xll reapects to the terme, conditions, and eovenanb
vf t6e afor~esaid promieeory note, and thie mortg:~e, ae fully and to the same exteat aa though a part of tha ori~inal
indebtednese e~-idenced by eaid nott and seeured by thie mortgage, exceptin~ howtver, that said eume shall be repaid
the Mortgagee forthr.~ith upon ita deniaad and be in additiou to tf~e mgular monthly installmente provided 6y the
inortgage note.
3. That the abetract or abatracta of title coveriag the mortgaged property- sh~ll at all times, durin6 the litt oE
thie ~nortgege, remain in po~ee~sion of the Mortgagee ~nd in event of the forecloeure of thie mortgaae or other transfer
of title to thc n~ortgaged property iu extinguishment of the indebtedneea eecured htreby, all right, title and intereet
of the b~ortgagor in and to an~y auth abetracts of tide ahall pae9 to the pncchaeer or grantee.
4. 'I'o the cxtent of the indebtedneee of the Mortgagor to the Mortga~se deecrihed herein or aacured hereby.
the Dlortg~gee is heeeb}• eubrogattd to the litn or liene ~nd to the righte o[ tlte ar~~nere and holdere thes~eof oE each
and every mortgage, lien or other incumbrance on the land dtscribed hereia which ia paid and/ar eatiafied, in whole
or in part, out of the proceeds of the loan deecribed herein or secured hereby, and the reepective liene of s+iid mort-
gages, litna or other incumbranc~„ ehall be and the aame and each of them hereb~~ ie preserved and shall paee to and
lie held by the Mortgagee herein as eecurity for the indebtedneuN to the I~'Iortgagee herein described or hereby secured,
to tl?e saine extent that it w-ould have heen pre.~aen•ed and would ha~•e been pA68Cd LO and been held by the Mort6a~ee
had it been duly and reaularly aeei~icd, traneferred, set over, aud delivered uuto tLe 111octgagee by eeparate dced of
a~igiunent, notwithetanding tht fact that the eame may be batiefied and eancelled of record, it being the inxeutioa of the
l,~rties I~ereto that the same will be aatiafied and c~ncelled of record by the holdera thereof at or about the time of
tlee rrcordin~ oF lhis mortgage.
5. In the event the ownerahip of the mortgaged premisra, or an} pari tLereof, becomea veated in a person othts
than t}ie Mc,rtg~gor, the '_11ort~agee rna~, without notice to t~e Mortgagor, deal with euch eucceeaor or eucceeaors in
intereAt w•ith reference to thie de+ed aad the debt hereby eecured, in tl~e yame manner as with the ;~'Iortgagor wiihout
in any way vitiating or diecharging the Mortgagor'e tiability hereunder nr apnn the debt hereby eecured. No aale af
the E?rCmie~ licreb}, niortg•agrd and no forbearance on the part of the '~Tort~a~ec, an~i no exteneion oC the time for the
~faY~~~ent oE the debt herebJ- atcured given by the Mortgagoe ehatl operatc to releyae, diacLar~e, modif~', change or al~ect
the ori~inal liabilit}' of the Mortga~or hereiti eit6er in whole or in part.
6. 'I'he lien of thie deed eeeuree and ahall eontinue to eecuce p~~~ment oC said indebtedneea or indebtednc.~e,
liow•e~•~r evidenced, whether by eaid promieeory• note or any renewal or exteneion thereof or eubetitute therefar, or
oti?erwise, antii all eucis indebtedn~s ehall have been futl~• paid.
7. Irt the Pi~e~tt tlre ritnrt~n~ors SPII, co~ir~c~)~ n~~ hn~tsj~~~ thr• »i~rr/_~n~Fd f>re~iiises d~n~in,s the life of t/tis rnn~t,~n~e,
theii tfris mort~n,~e sl~nll, nf tlie option of the ~1tor!~n~r~e he~ei~t, he°~nr~re ir,>rnr~:fiatf°!1' dtrc rutd pn~able for• tlic fttll sttnt of
t/re prin~~prt bnlnr,~e artd interest tl~e~z due.
8. The terma "Mortgagor" and "Mort~mgee" whenever ueed in thie infitrument al?all include the heire, personal
repreqentativee, auctxsaors and aeei~r?o of the respective parties hrreto. QJherevtr uned the Finp,i~lar number shall inc~ude
the plural aad the plurai the aingiilar, and the uee of ~ny ~endrr shall include a!1 gendere.
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Si~ned, eealed and delivered in tlie ~+resence.of: J~+ 5:~,~_*~ i-~L . t.~`: i. i`"~ (SEAL)
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S`t'ATE UF FLORIDA
COUNTY OF ~JC ss
ST. L~C
Before me pereonally appearcd KO$S PIITL]f~Y a~o~d OLLIB B. P'Z]~T~ h1e o?ito ~
to nne weli known snd known to me to be the iadividuale de8crib~ed in and who extcc~ted the fore6oing inetrutnent, and
acknowledgcd before me that thty executed the eame for ihe purpoees ti~erein ex ~VITPIE5S my hand aad
O~ICIA~ aeat in the Countg~ and Siate laei aforeasad thie 5t?h da,7 Of 1~o r~ Y9~5
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