HomeMy WebLinkAbout2882this mataaje of other transfer of title to the a~ortaased property is a:liasuishmeat of the indebtedness secured Acreby, all right, title
sad interest o[ tAe t#ortµsor in and to say insurance policies then in force shall pass to tba purchaser or araatee.
(A) To pertore. coeaply sriW sad abide by each sad every the stipulations, asreements. conditions artd covenants in said promissory
note sad is this deed set lath.
(i) That it any of said sums of looney herein referred to be not promptly and tally paid within fifteen days next after
the same severally becoses due and payable. or it each sad every the stipulations, aareemeats, coaditioas sad covenants of said promis-
sory note sad this deed, or either, are not fu11Y performed, caaplied with sad abided by, the said a~repte sum mentioned is said
proasiasory note shall becase due sad payable forthwith or thereafter at the option d the Mottyla~ee as fully sad completely as it the
said aureate sue of said promissory note ras orisiaally stipulated to be paid as such day. aaythiaa is said promissory note of herein
to'the contrary aotwithstaadiaa.
(j) That in order to accelerate the maturity of the indebtedness hereby secured, because of the failure of the Moctaasor to pay any tax.
assesseeat, liability, oblisatiaa a encumbrance upon said property, as herein provided, it shall not be accessary a reQuisite that the
eortaasee sball first pay the same.
2. The Mortgagee may, at hie option, and without waiving his right to accelerate the indebtedness hereby
secured and to foreclose the same, pay either before or after delinquency any of all of those certain obligations
required by the teens 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~'chacged 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 [ally 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 encumbrance 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 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 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 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 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 fuliy paid.
7.. In the event the mortgagors sell, convey or transjer the mortgaged premises during the life 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 include all genders.
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STATE OF FLORIDA
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COUNTYTTOF ^J1311[
Befoie r eIIpeisEonally appeared CH~~S P. CRAWFORD tend PATRICIA A. CRAWFORD,His Wife
to me well known and known to me to be the individuals described in and who executed the foregoing instrument,
~d acknowledged before me that they executed the same for the purposes therein expressed. WITNESS my hand
d official seal in the County and State last aforesaid this 11th D83- Of September, 1969 •
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1A~iommi>~ivt Expires: June 30, 1971 Notary Public, State of
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