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HomeMy WebLinkAbout2778 our tile 5-18,~40 ~Ais wat~~~t a o~Ae~ lransfer o( h~le to cAe more~ared property ia eat~n~wshmen~ ot the ~adebtedneas securcd ~ereby, •11 r~~A~, u~le and inte~e~t of the Ma~~~~or ~n snd ~o ~ny ~nswam:e pol~c~es then in force aArll pass to Ihe purchsaer or srantee. (A) T~ perfrrm, caeply ~ritA and abide sy each and every tAe sUpulat~ons. s~~eements~ condiuons aad covenam. ~n .aid prum~..~.~~. note aod in ~h~s deed set fatA, (i) Th~t it any of said swas ot eaney hetein retcrred to be not praeptly and (ully pa~d M~th~n (~f~~rn dry~ nt~~ rltr~ 1he sa~e severally becoa~es due and pay~Ale, or d each and every the sUpul~t~oes, asreements, coedu~on~ and coven~ntc o( .a?d prom~.- aory note snd lAis deed, ot e~ther. ~re r.ot tully pe~lotmed, cosplied w~tA and ab~ded Ay~ tAe s~id a~re~a~e sum menueuird ~n .rid praeissa~Y note sAall becose due ae~d p~yaEle fa~hwith a lherea(ter at tAe opt~on of tAe A1or~~aaee as (ully and compleiely a: ~i ~Ac said a«re~ate suw ot s~id paeiasory note ~ras ot~~ieally atipul~ted to be p~~d oa sucA d~y, anytA~o~ ~n sa~d promissw)• no~c ~u here~n to the contruY eot~ri~hst~ndins. ~ (j ) That in order to ~ceele~~te the au~un~y ot ~Ae indesteAnesa Aereby secwed, because of the f~~lute o( the Mataa<<w paY any ~as, asae~sa~ent~ liab~lity, oblisation w encwebraace upon sa~d ptoperty. as hereio prov~ded. it shall not be nece~~rry ur requ~a~le ~ha~ thr mort~a~ee shall first pay tAe s~me. 2. The Mortga6ee may. et his option. and without waiving his *~ght to acceletate the indebtedness hereby~ secured and tu foreclose the same. pay eithst be[ore ot after delinquency any or ali of those cettain obligations ~ required by the terms hereof to be paid by -the Mort~agor for the protection of the mortgaae security or for the col- t lection of the indebtedness hereby secured. All sums so advanced or paid by the Mo:tgasee shall be charged into ~ the mortgage account anJ become an integral part thereo(, subject in all respects to the term., conditions, a~d f ~ covenants of the aforesaid promissory note. and ihis mortgage, as fully and to the same exte~t as though a part ; oi the original indebtedness evidenced by said note and secured by this mort~age. ezcepting however, that saiJ sums shall be repaid the Mortjagee fotthwith upon its demand and be in addition to the regular munthly install- ` ments provided by the mortaage note. 3. That the absuact or abstracts of title covering the mortgaaed property shall at all times, duting the life of this mortgage, remain in possession of the Moctaagee and in event of the foreclosnre of this mortgag~ or othcr ttansfet of title to the mottgated pcoperty in extin~uishmenl of the indebtedness secured hereby, all tight, title and interest of the Mott~agor in and to any such abstracts of title shAll pass to the ptuchaser or grantee. 4. To the extent of the indebtedneas of the INertga`or to the Noctgagee described hetein or secured hereby, tii~ Mortgagee is hereby subrogated to the lie~ or liens and to the rights ot the owners and holders thereof of each and every mortgage, lien or other incumbrance on the ta~d desctibed herein which is paid and%or satisGed. in whole or in part, out of the proceeds of the loar~ described fierein or secured beceby, and the respective liens of - said mortgages, liens or other incumbrances, shall be and the same and each ot them hereby is preserved and shall pass to and be held by the Mortgagee herein as stcurity for the indebtedness to the Nortgagee herein described or hereby secured, to the sarrte extent that it would have been pteserved aad would have been passed to and been htld by the Alortgagee had it been duly and regularly assigned. trans[erred, set over, and delivered unto the Mo~t- gagee bv separate deed of assi~nment. notwithstanding the fact that the same may be satisfied ar~d cancelled of recotd. it being the intention ot the parties hereto that the same will be satis[ied and cancelled of record hy the holders thereof at or about the time of the recording of this mortgage. S. I~ the event the ownetship of the mortgaged premises. or any part thaeof. becomea vested in a pcrson other than the Mortgagor, the Mortgagee may, wit6out notice to the Mottgagor. deal with such successor or suc- cessors in interest with reference to this deed ar~d the debt hereby secured, in the same manner as with the \lort- gagor without in any way vitiating or discharging the Mortgagor's. liability hereunder or upon the debt hereby' secured. No sale of the premise~ hereby mortgaged and no [orbearance on the part of the Mortgagee. and no ez- ~ ~ tension o[ the time for the payment of the debt hereby secured given by tbe 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 ot 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 eatension thereof or substitute there- ~ for, oc otherwise. until all such indebtedness shall have been fully paid. . 7. In the event the mortgagors sell, convey or transJer the mo~tgaged preinises during the lije of this mort- gaRe, then this mo.tgaRe shall, at the option oj the AforrRagee he~ein, 6eco?pe i?nrnediately due and poyable~~or !he ~ jult swn oJ the principa! 6alance arid interest then due. i 8. The terms "Mortgagor" and "~lortgagee" whenever used in this instrument shall include the heirs. ! personal representatives, successors and assigns of the respective parties her~to. Wherever used the singular i number shall include the plural and the plural the singular. and the use of any gender shall include all genders. ~ ~ S ned, sealed an del' ered n the presence ot: ~~~~L~'~ • (Seal) ~S ~ ~"E' ~ I"I8T$ (Seal) ~ . ~oe Archer ~ ~ STATE OF FLORIDA ~ COUN ~ OF - ss ~ JOS AEC~R aad RI~DO~ ARCHER Hi s 1Jif e ~ Be[ore me personally appeared ~ s to me well known and known to me to be the indi~iduals described in and who executed the foregoing insuument, t and acknowledged before me that they executed the same for the purposes therein expressed. WITNESS my hand € and o(ficial seal in the County and State last atoresaid this 25th Day of Oetob ~ 1~9. ~ ~ ~ . ~ ; } ~1y Commission Expires: Notaryr Public. State of a , Motsry Pu~ic. 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