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HomeMy WebLinkAbout0064Our file 5-18,367 this matpsae or other trsaafer of title to the mortaaaed property is estinauishmeat of the indebtedness secured hereby, all right, title and interest or the Mortaaaot is and to any inswaace policies rhea in force shall pass to the purchaser a drsntee. (h) To perform, comply t+rith and abide by each and every the stipulations, spreemeau, conditions and covenants in said prum~ssory note and in tAts deed get forth, (i) That it any or said sums of money herein referred to be not promptly and fully paid within fifteen days nest after the same severally beeoeues dtre and psysble,or if each and every the stipulations, agreements, conditions snd covenants of satd prom~s- sory note and this deed. of either. are not fully performed, complied Frith and abided by, the said aurepate sum ment~nned to said promissory note shall became due and payable fathrritlt a thereafter at the option of the M«tgagee as fu11Y and completely as if tAe said aggregate sum of said promissory note tors originally stipulated to be paid on such day, anything is said praaissory note a herein to the contrary notvithstsadiag. (j) That in order to accelerate the maturity of the indebtedness Hereby seared, because of the failure of the ltottgagor to pay any tag, assessment, liability, obligation a encumbrance upon said property, as herein provided, it shall nol be necessary a requisue that the mortgagee shall first pay the same. 2. The Mortgagee may, at his option, and without waiving his right to accelerate the indebtedness hereby secured and to foreclose the same, pay either before or after delinquency any or all of those certain obligations required by the terms hereof to be paid by the Mortgagor for the protection of the mortgage security or for the col- lection of the indebtedness hereby secttred. All sums so advanced or paid by the Mortgagee shall be charged into the mortgage account and become an integral part thereof, subject in all respects to the terms, conditions, and covenants of the aforesaid promissory note, and this rortgage, as fully and to the same extent as though a part of the original indebtedness evidenced by said note and secured by this mortgage, excepting however, that said sums shall be repaid the Mortgagee forthwith upon its demand and be in addition to the regular monthly install- ments provided by the mortgage note. 3. That the abstract or abstracts of title covering the mortgaged property shall at all times, during the life of this mortgage, remain in possession of the ;1ortgagee and in event of the foreclosure of this rnortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title and interest of the Mortgagor in and to any such abstracts of title shall pass to the purchaser or grantee. 4. To the extent of the indebtedness of the Mortgagor to the Mortgagee described herein or secured hereby. the !Mortgagee is hereby subrogated to the lien or liens and to the rights of the owners and holders thereof of each and every mortgage, lien or other incttmbrance on the land described herein which is paid and!or satisfied, in whole or in part. out of the proceeds of the loan described herein or secured hereby, and the respective liens of said mortgages, liens or other encumbrances, shall be and the same and each of them hereby is preserved and shall pass to and be held by the Mortgagee herein as security for the indebtedness to the Mortgagee herein described or hereby secured, to the same extent that it would have been preserved and would have been passed to and been held by the Mortgagee had it been duly and regularly assigned, transferred, set over, and delivered unto the Mort- gagee by separate deed of assignment, notwithstanding the fact that the same may be satisfied and cancelled of record, it being the intention of the parties hereto that the same will be satisfied and cancelled of record by the holders thereof at or about the time of the recording o[ this mortgage. 5. In the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the AA~rtgagor. the Mortgagee may, without notice to the Mortgagor, deal with such successor or suc- cessors in interest with reference to this deed and the debt hereby secured, in the same manner as with the Mort- gagor without in any way vitiating or discharging the Mortgagor's liability hereunder or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbeazance on the part of the Mortgagee, and no ex- tension of the time for the payment of the debt hereby secured given by the Mortgagee shall operate to release, discharge, modify, change or affect the original liability of the Mortgagor herein either in whole or in part. 6. The lien of this deed secures and shall continue to secure payment of said indebtedness or indebted- ness, however evidenced, whether by said promissory note or any renewal or extension thereof or substitute there- for, or otherwise, until all such indebtedness shall have been fully paid. 7. In the event the mortgagors sell, convey or transjer the mortgaged premises durirg tAr lije of this mort- gage. then. this mortgage shall, at the option of the Aortgagee herein, become immediately due and payable Jor the jull sum of the principal balance and interest then due. 8. The terms "Mortgagor" and "Mortgagee" whenever used in this instrtunent shall include the heirs, personal representatives, successors and assigns of the respective parties hereto. Wherever used the singular number shall include the plural and the plural the singular, -and the use of any gender shall include all genders. 7~' (Seal) ~- (Se all STATE OF FLORIDA COUNTY OF ~S ss 3T. I,UCIE Before me personally appeared ARTHUR H. SHAFFER 811d Lt1URA 8. SHr>.FFER, his wife to me well known and known to me to be the individuals described in and who executed the foregoing instrument, - and acknowledged before me that they executed the same [or the purposes therein expressed. WITNESS my hand and official seal in the County and State last aforesaid this 19th D831 Of J 1969• ..,...,,,. ~_ .~ -,: .~ -. My Commission Expires: t7UIIe 30, 1971 Notary Public. State of ,~`- - ~, FILED AND'RECORDEO! ~ ~~• -':~ f C~,;~::: ST. LUCIE COUNTY, FIA. r Jam, •..~- .~;~: . - RECQRQ `JERIFIEp '- ~b: ••:••.•••° .181155 ~~--~., ~::~,... '69 JUL 2 8 PM 3: 3 0 ROGEiR i=01TRtiS 900K~ 1~ PAGE GLERK CIRCUIT COURT; ~ -- -- f ~ . .~.;_: . x s 64 ' ~-~ °~"~ ~.