HomeMy WebLinkAbout1555 M~ttprsr. Ia evewt ~sreclo~urc et t6is ~nort~~e ~rr otlue~ trn~er sd litle t~ tbe oi~ttpsed ptsperly in extinrLishme~t o( tbe iedeb!•
edna~ ~scured `erebr, all ri~6t, tide ~nd intere~t ef the Mort~or ia aod to ~ar iwunnee pslireer tl+ea ie farce ~lul) pw t• tbe
?~rebwr ~r ~r~stee.
(6) TM pett~rm~ e~mpl~ MitL nrd ~bide dr eac6 ~nd ererr the ~tipulatioes. •~reaneau, coeditioa~ ~ad csvenaets in iaid pro+ni~r7
nrte u~d is d~i~ deed ~et f+rtk.
(i) T1rt it ~wr~ ~i ~ti~ ~snu ~t wsae~ ~ereie r~e(arced ta be ud promp!J ,md f~llr p.ld Mi~b;. tflte~en daY~ ~t
dter t6e weoe ~evanU~ beeoma due and pq~ble. ~r it each aed every t6e stipulatieo~, r~retu~enq, conditiee~ and t6VEqipl~ ~ wed
pr~iwr~ ~ete a~d t6~ deed. o~ either~ ue aW fall per~arwed, co~uplied wit6 and ~bided by~ ~bc wid •~epte ~um meutioaed ie
~~d pnuurory Mte ~dl become d..e aad parablc ~uet6wit6 or thcrtdte~ at tl:e optioo u( tbe ~Aorts+*ce ~ tnliy and c~mpletelr rr
it tbe s~id ~krepte ~wn e( a~id proai~wrr nwe M~u ori6io~llr uipul~ted t• be paid ow ~uc6 dry. anrt6i~~ ie wid pr+alaory wte
or hereia t+a t6e cowtrstr wotwith~tae~dina.
l)' ) Tl~at ie order t~ ~rtelente the uoaturitf ~f tbe indebttdneM 6crebr ~ezured~ bce~use of t6e failute ot iLe Y~rt6apr ts ~7 ur
t¦x, ~a~c~unent, liabilitr, ~blipti~w or encwnbnnce upoo wid propertr. w}~ertia {xovided. it ~hall not be oese~sarp or requuite that
the mortKaRee st~all finrt t6e pane.
2. `TLe Mort~a~ ~nay, at ~ia o~tion, snd withoat w~iving liia right to ai~lernte the i~debtednar hereby
' recureo and to foreclost the same, p:y either beEore or af~er CICIlD1;llCIICy' ~ily ur all o[ thoee certain obli~atio~ ~
' reqnired b~ t6e terms 6e[~eof to be psid by the 11"lortgagor for the protection of the mongage eecurity or ior thc oolltc-
tion o( the iadebtednees hereby secured. A!! sume so advanced or paid by the Mortgzgee ehall be charged into t6e
mortgage aceount and became an integr~l psrt thereof, aubject in all reepects to the tern~e, conditions, and covenants
oF the aforewid promieaory note, and thie mort~a~e, ae fully aud to the same extent aa though a part uf the ori~inal
indebtedncse e~tidenced by eaid note and 6ecured by t6ie mortga~e, excepting howCVer, that said sume shall be repaid
the Mortgagee forthwith upon ite de~nand and be iu addi~on io the mgular n~onthly installmenta provided by the
inortgyge aote.
3. Ths~t tlie abstract or abatracts of title co~•ering the mort~aged propertJ- alz~ll at all timeg, during the life of
thie inortgAge, remain in poeeea6ion cf the MortgAgee and in event of the farecloeure of thie mortgage or other trRnefer
of titie to thc n~artga~ed pcoperty iu extinguiehment of thc ind~ebtedneas eecured hereby, all tight, title Artd intereai
af the Alorigagor in aad to any euch abetracta of title ehall ~,aas to the pt~rchaa~:r or grantee.
4. T'a the exceuc of che i~dzbaedneae of the Mortgagur to the Mortgagce deacribed herein or aecured 6enby, ~
t~ 1lrartgagee ie hereb~ gubro ~ted to the lien a~ liens and to the righte of the oi~-nera and holdere tharooF of each
and ev~ry martgYgt, lien or ot~ee incumbrance on the l~nd described herein which ia paid and/nr aatia6ed, in wh41e
or in part, out af the prooceds of the loan deecribed herein or secured hereby, and i~ie res~~ective IiernM of aaid mort-
ga~r,s, liens or oiher incumbrancear ahall be and tbe aamc and each of them hereb~ ie preaerved and shall paes to and
be held by the Mortgaget herein ae eecurity for the indebtedneaw to the 117ortgagee herein described or hereby eecured,
to tt?e same exteat that it e~-ould have been preaen•ed and would ha~~e been paseed to and been held by the Mortga6ce
had it been duly aad regularly aesiaued, tranaferred, eet over, and deli~erec~ uuto the Mortgagee b}' eeparate deed of
a~ig7tunent, notwithstanding tt~e fact that tht eame mxy be eatiefied and eancelled nf record, it beiu~ the intention of the
partiea hereto that the eame will he datisfisd and caucclled of record by- the holdera thereof at or about thc time of
tlie rrcording of thia mortgage.
5. In the event the ownerehip of the m~ortgaged pranisee, or any part tliereof, becomep veated in a pereon o4her
than tl~e Mort~agor, the '_ltortgagee may, without notidee to the Mortgagor, deal witt~ auch eucceseor or saeceeeora iu
iuteeest t~•iih reference to thie deed and the debt herebr eecured, in tl~e sanie manner aR N•ith the Mort~a~ar without
in aiir• way ~-itiatin; or diucharp,iRg t}ae Mortgagor'e liability henunder or upon ttie debt here6y eecured. No euie of
the prcmieeR hereb)• mortga~ed and no forbear$nce on the part of the '_41ort~a~ee, and no e~cten~ion of the time for the
payu~eut oC the debt hereb}~ secured ~ven by the Mortgagee shall operate to relear+e, d'eqcharge, mod'eF~•, change or afFect
the ori~inal liability of the Mortgag~or herein either in whde or in pgrt.
6. Tl~e lien of thie deed eeeurea and shall coniinue to aecure pa~•ment of Haid indebtednee:+ or indebtednese,
hox•e~•er evidenced, whether by said pmmia8ory note or any renewai or exteneeon thereof or aubatitute thcrr.far, or
otl~envise, until ali such indebtednrae ehall have b~cen full~~ ~raid.
7. Irt tl:e ei~etit t/ie rnnr(~n~?ors sell, cmit~e~~~ ni- trnr~sjr~~ tire ~r~.,rt~Tnsr-rl ~>rr°mises dtni~t,~; tlrc !i/e of t/iis n:~~~l~u.~~~,
thFn ti~is mort~n~e shall. ~zt tlre u~~tion of t/ie llfort~n~, e ir~rFr~~, Gc•r nn,r imn~rclratf~lti~ duc nrtd f~a~nble for tlre ~'trll ~um of
tli;~ prir~ci~al unlarzre nnd interest the~t due.
t3. The terme "RRortga~or" and "hiortgagee" whenever use~i in this inntrument shali inclu~le the heirs, person~l
repre~entatiree, auceesaors actd ateei~na of tite reApectir~e partiea hereto. Wherevtr ueed the Riogulae num}?er nhall include
the ~?lural and the ~lural the ein~alar, and the uHe of any Render shull include all gendera.
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SiRned, eeaieci :~nd defivtred in tlxe presence o!: l~''.~_ ,,~~-I~.v~L~... '
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STATE OF FLORIU
COUNTY OF gs
S~. LUC ~
Before mt personaAy appeared ARTIiUR I~!ITRE1sY and E7,IZABE'~'~i ~C5 NNR&,~Yti hi~ ti.TifeJ
to me weli knowin and known to me to be the iadiveduaia described in aud who execnted the foregoiug inetrumeut, And
acknawted~zd before me that they executed the eame for the purpuae~ therein ex . ~VIT'I'V`~S5 my hand and
o~'eaiai ~eat in ihe Cnunt}• ~nd Sisete laet aforeaaid thie lOth day of DeC b~r, 965.
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