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HomeMy WebLinkAbout1655., , , Our file 5 -18,494 this mottsaae or other uaaster or title to the mortaaaed property is er:tinjuishmeat of the indebtedness secured hereby, all risltt, title and interest or the hlortaaaor is and to say iasueaace policies then is (ores shall pass to the purchaser a Grantee. (h) To perrorm. comply riUt tad abide by each sad every the stipulations, aareemeau. conditions sad covenants in said promissory note sad is this deed set rotth. (i) That it any or said sums or money herein rerened to be not proaptly sad rally paid rithin firteea days text after the same severally becomes due sad payable, or it each tad every the stipulations. asreements, conditions sad covenants or said promis- sory tote sad this deed. or either, ue not fully perrormed. complied rich and abided by, the said a{dretate sum mentioned is said promissaY note dull become due std payable rorthrith or Uterearter at the optiat o[ the Matpaee as fully sad completely as it the said a~yretats sum or said promissory note ras oriaiaally stipulated to be paid an such day, aaythiaa is said promissory tote or herein to the contruy aohrithstaadiad. (I) That is order to accelerate the maturity or the indebtedness Hereby secured. because or the rtilure or the Mort~a~or to pay any tax. assessment, liability, oblisatioa or encumbrance upat said property, as herein provided, it shall tot be accessary a rerauisite thtt the mortasaee shall first pay We 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 secured. 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 mortgage, 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 stuns 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 o[ title covering the mortgaged property shall at all times, during the life of this mortgage, remain in possession of the Mortgagee and in event of the foreclosure of this mortgage 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 inctunbrance 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 incumbrances, 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 sectued, 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 assigna-ent, 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 of this mortgage. 5. In the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the Mortgagor, the Mortgagee may, without notice to the Mortgagor, deal with such successor or suc- cessors in ihterest with reference to this deed and the debt hereby seclued, 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 forbearance 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 secare~ payment of said indebtedness or indebted- ness, however evidenced, whether by :raid promissory note or any renewal or extension thereof or substitute there- for, or otherwise, tmtil all such indebtedness shall have been fully paid. 7.. /n the event the mortgagors sell, convey or transfer the mortgaged premises during the tije of this mort- gage, then this mortgage shall, at the option of the Mortgagee 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 instrument 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 incltxie all genders. ._ ~ Signed, sealed and delivered ' the presence of: (Seal) /"~"/ ~ ~ ~L~~ (Seal) STATE OF FLORIDA COUNTY OFD ss ST. LUCIE Before tree personally appeared GEORGE COLLINS Gild MADELINE COLLINS, 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 for the purposes therein expressed. WITNESS my hand and official seal in the County and State last aforesaid this lfi: h Day Of V 1969. ply Commission Expires: Jung 30, 1971 _ Notary Public, State of FlOri FILED AND REED ST.~rUCOR~ OUNTY~DLA. ~~~~~ '69 AUC Z? ~ 10: 3Z CLERK C RCU17 COURT gUOK ~~~ PACE16~~ ~ - ' ~ 1, - ~ ~~ ~•..