HomeMy WebLinkAbout0887 Our file 5-20,092
tni~ naw~~~~e .x uthr~ u~n?(c~ ul hIk io ~Ae m~xt~a~ed pope~~? 1A t~l1A~Y~sA~tlll u~ 1he ~MlebtcJeess ~e.wed Ae~eb). •11 n~A~, ~ule
~mf ~meiest ad the ~{ur~~~~w ~n ~nd ~o ~ny ~nrwa~e pol~c~es IAM ~n (ace shsll p~aa to 1Ae pwcb~se~ a pamee.
lA) Tu pr~l~rm, c.+ep1Y +~~U~ •nd abate 6~~ each aM! evt~Y ~t st~pulshona. a~reea~tnts. condu~a~s and covenan~s ~n ~u4 prwni.xix~
nule anJ ~n ~h~. derJ set IatA.
l~ 1 lAal d ~nY o( sa~d swsa ul ewne) he~e~n re(rncd lo be nol ptowptly •Mt tu11Y pa~d rUh~n I~heen day~ ne?~ rlter
the sase severally Secoses d~e and pa~vsle.ur each ~nd eve~Y tAe anpul~uons, a~~eements, c~~l~uona ~nd co~e~~nts o( sa~d prwu~s.
xwy note amf tA~s deed, w euhe~, are no~ tullY per(w~ed. aospl~ed +uA and ab~~ted by, tAe sa~d a~re~ate swr menuuned m sud
praauswy nute shall becose due and pa>a01t (ortAr~th ~w thcrea(ter at'tAe opt~aa o( tAe Mo~tp~ee as fuUy.and co~pletely as ~f the
aa~d a~~re~ate •us ot sa~d panis.wy note ~ras on~mally supul~ted ~o be pa~d m swA day, a~)•tlnns ~n s~~d pros~sswy note w here~n
tu tAe contrary notuthstand~es. ~ .
1 That m ader to acceier~te the aiatunty o( tAe indebtedness herepy secured, because o( the ta~lure ot tAe \lort~a~~x ~a p~Y anY u~.
•s.eaaaent, IiaS~1~~Y, oblyahon a encumMance upon a~~d p~ope~~y, as he~e~n prov~ded, u shall not be neres~ary a reQu~sue ~hat the
m«~~ajee shall fus~ pay tAe saae. ~
2. The !~lortgagee may, at fiis option. and without wa~vin~ his riaht to accelerate the indebtednesc hereby
secured arni to foreclose the ~ame, pay either before or after delinquency any ot all ~of those certain obligations
requ~red by the terms hereof to be paid by the Mortgagor for the protection of the mortaage security oc tot the co!-
lectiun of the indebtedness hereby secured. All sums so advanced or paid by ~the Mort6a~ee shall be char~ed into
the mortgage account arxf become an integral part thereof. subjeet in. all respects to the terms, conditions, and
covenants of the afaresaid promissory note. and this mortgage. as fully and to the same extent as thou~h a part
of the original indebtedness evidenced by said note aad secured by this mortsa`e. 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 matga~e note.
3. That the abstract or abstracts o[ title coverin6 the mortgaged property shall at all times. durins the li~e
uf this mortgage, remain in possession of the Mortgagee and in event of the foreclosure of this mortsa6e or other
transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all rieht. title
and interest of the Mortgagor in and to any such abstracts of title shall pass to the purchaser or frantet. ~
~1. To the extent of the indebtedness of the Mortsaaor to the Mortgagee described herein or secured hereby,
the Alortgagee is hereby subrogated to the lien or liens and to the rights of the owners and holde~s thereof of tach
and every mortgage, lien or other incumbrance 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 othet incumbrances, shall be and the same and each of them hereby is presetved a~d shall
pass to and be held by the Mortgagee herein as security for the indebtednesa to the Aiortgagee h~rein described
or hereby secured, to the same extent that it would have been pteserved and would hsve been passed to and been
held by the !1k~rtgagee had it been duly and regularly assigned, uansferred, set ovet. and delivered unto the Moct-
gagee by separate deed of assignment, notwithstandina the fact that the same may be satisfied and cancelled of
record, it being the intention of the patties hereto that the samt will be satisfied and cancelied of record by the
holders theteof at ot about the time of the tecordin6 of this mortgage.
5. In the event the ownership of the mortgaged preEnises, or any part thereot, becomes vested in a person
other than the ~lurtgagor, the ~lortgagee may, without ~otice to the Mortgagoc. deal with such~successor or suc-
ccssors in interest with reference to this deed and the debt hereby secuted. in the same manner ~as with the Mart-
~agor without in any way vitiating oc dischar6in6 the Mortgagor's liability hereunder or upon the debt hereby
secured. No sale of the premises hereby mortsaged and no forbeua~ce on the part of the Mortgagee, and no ea-
tension of the time for the payment of the debt hereby secured given by the Mort6agee shall operate to release.
discharge, modily. chan~e or affect the original liability of the Mortgaaot herein eithet in who~e or in pact.
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 theceof ot substitute thete-
for, ur otherw~~se, until all such indebtedness shall have been fully paid.
7. /n Ihe event the niortgagors selJ, convey or transjer the inortgaged pren~ises during the IiJe oJ thrs n~ort-
~ Rage, then this mo~tgage shall, at ~he option oj lhe blortgogee here~n, 6econie inunediately due and payable jor the
~ Jutl su~n oj the pr~ncipol balance and in~erest then due.
8. The terms "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the heirs,
i personal rapresentatives, successors and assigns of the respective parties hereto. Wherever used the singular
~ numbet shall include the plural and the plural the sin6ular, and the use of any sender shall include all gendcrs.
~f .
S~gn , scaled d I er ~n the presence of: al)
(Seal)
~ ?~-.c..~_ 4
STATE OF FLORIDA I
COUNTY OF]~i ss
ST. LUC
~ Befure rtx personally appeared B$~jA~ R. GIBSON, an unmarried II~BII
to me well known and tnown to me to be the individuals descr~bed in and who executed the fore~oin= ~nsuument.
and acknowledged before me that they executed the same for the purposes therein expressed. W1TtiESS my hand
and off~c~al seal ~n the County and Statc last afotesaid this 30th da~ Of JL113? 19'TO•
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~1y C'cr.nmiss~on Exp~res: Ju11e 30 ~ 19'll Notaty Publ~c, State of Flori ~ iti~ i
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