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HomeMy WebLinkAbout2925dtuc file 5-18,603 this.~to!tpas ar other transfer of title to the mortested property is estittauishmeat of the indebtedness secured hereby, all right, title and interest of the 6lortpaor is and to any insurance policies rhea is /oree shall pass to the purchuer a arsatee. l ih) To pcrtoiu. comply •itlt sad abide by sack and every the stipulatioaa. epeea-eau, conditiaas tad covenants to said promissory note and in this deed set torch. (i 1 That it any of said attras of money herein referred to bs not promptly sad fully paid r.~thin fifteen days nest after the same severally bseamea due sad Payable, a it each sad every the atipulstia-s. aareemcnu. conditions sad covenaau of said promise sort' note and this deed. or either. are not fully performed, complied with sad abided by, the said akrePate swa mentioned is said promissory sots shall become due and payable tnrthrrith a thereafter at the option of the Matpsaee ss fully and completely as it the said ai~reaate sum of said promissory sots eras onptnalty atipulsted to be paid as such day. aaythir~ is said promissory note or Aerein to the contruy aotritbstaadisa. V 1 That in ceder to accelerate the maturity of the indebtedness hereby secured, because of the failure of the Alortasdor to pay any tae. assessment, liability, obliaatioa a encumbrance upm said property, as herein provided, it shall not be necessary or requisite that the mataaaee 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 hereot to be paid by the Mortgagor for the protection of the mortgage security or for the role 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 thereo[, 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 sums shall be repaid the Mortgagee forthwith upon its demand and be in addition to the regulu 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 lice of this mortgage, remain in~possession of the Mortgagee and in event of the foreclosure o[ this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all rigltt~itls~ and interest of the Mortgagor in sad to any such abstracts of title shall pass to the purchaser or graetfee. 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 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. S. In the event the ownership of the mortgaged premises, or any part thereof. becomes vested in a person other than the M~ttgagor, 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 of 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 fa 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 of indebted- ness. however evidenced. whether by said promissory note or any renewal or extension thereof ar substitute there- [or, or otherwise; until all such indebtedness shall have been fu{ly paid. 7. /n the event the mortgagors sell. convey or transjer the mortgaged premises during the lije of this mort- gage, then. this mortgage shall, al the option of the Aortgagee herein, become immediately due and payable jar 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. Signed, sealed and delivere 'n the presence of: ° (Seal) . ~P ~~ (SaaU 1 w A _ STATE OF FLORIDA COUNTY OF ~ ss Before meLpIIersonEally appeared BILL GEORGE LANCASTER and ERMA JEAN LANCASTER , H i s to me well known and known to me to be the individr• '~ described ie and who executed the [oregoing instrument, Wife and acknowledged before me that they executed the .e fat the purposes therein expressed. WITNESS my hand and ofCcial seal in the County and State last aforesaid this 6th D8y Of Septt3 r, 1969. .. /~ w A FI~Q f yDFD ~~_~O ~~Q71 Notary Public. State of S'r . LU ~: IE t: ~~~M't ~ ~~' .F~~t~n ;~~at~jl=a 183230 '69 SEP 19 ~+I 10: I5 ~~ ;o,: a :~tat~rA~,s Cl_ERl4 CIRCUIT EOURT BooK~79 ~~2923 l - ~ J / :y __ ~ . c; ~ _ ~ ~ ~- - ti ~ . . ,i ~ , --:,; ,;,