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Home My WebLink About0423 . f • , ~ ~ , . Our File 5-22,405 th~s mwt~a~e ar uther u~nsfer ot ~itk ~o the mor~~a~ed proper~y m eaun~u~shmen~ u1 tAe ~ndebtedness secured here~y, all ~~{ht, tulc ; anJ ~n~e~est o( the Mw~{siw ~n Ynd to any ~ncw~nr.e polic~es then in force sh~l) pass to the purcA~set or ~rantee. (h) Tu pertam, cumpty w~tA and ab~de by e~ch and eve~y We st~pulaums, apeemenb, condiuons aad covenants ~n cr~d prom~csoty ! nute anJ m tA~. derd set torth. ~ (i 1 That any ot sa~d sums o( moncy here~n re(rRed to be nol proaplly ~nd tully pa~d r~thin (~fleen days oea~ aRcr ' the same severally pecomea due aad payable,or ~t eacA and erery the st~pul~uons, a~reemtnts~ cond~tions and covenanu of sa~d p~an~9- # awy note and th~s deed, or e~ther, are not fuily per(ormed. complied With ~nd ab~ded by, the sa~d sure~ate sum senuoned ~n s~id ~ prom~asay ~ote ahall become due and paY~Ole forthW~tA w tAe~e~tter at the oplion of the Mor~~a~ee as fully and caepletely as it'R~_ aaid a~~re~ate sus of said promiscay note ~ras on~~nally stipulated 1o De paid on such d~y. anythin~ ie s~id promissorY note ~'Aerein to the contrary not~uhstand~ns. (j ) Tha~ ~n order ~o accelet~te the awtunty ot tAe indebtedness Aereby aecured. because ot tAe failuce of tAe Ma~~a~or ~o p~y sny ua, as.esament, I~ability, obli~ation or encumbrance upon said p~operty, ~s hereie provided, it shall not be necescary a requisite tAat ~he mix~sa~ee shall fust pay tAe same. 2. The Mortgagee may. at his optioo. and without waivin~ his ri~ht to accelerate the indebtedness hereby secured and tu foreclose the same, pay either before or after delinquency any ot all of those cettain obligations required by the terms hereo[ to be paid by the Mottgagor for the protection of the mortgage secutity or for the col- lectiun ot the indebtedness hereby secured. All sums so advanced ot paid by the Mortgagee shall be char`ed into the morlgage account and become an integtal patt thereof, subject in all respects to the terms. conditions, and covenants of the aforesaid promissory note, and this mactgage. as fully and to the same extent as thou=h 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 regular monthly install- ments provided by the mortgage note. 3. That the abstract ot absuacts ot title coverins the rtartgaged ptoperty shall at all times, dwins the life of this mortgage, remain in possession of the Mortgagee and in event of the foteclosure of this mortgage or other transfer of title to the mortgaged property in eatinauishment of the indebtedness secured hereby. all ri~ht. title and interest of the ;Nortga~or in and to any such abstracts of title shall pass to the putchaaet or ~rantee.. 4. To the extent of the indebtedness of the Mortsagor to the Mortgagee described herein or secured hereby. the Mortgagee is hereby subrogated to the lien or liens and to the ri~hts of the owners and holders thereof of each and every mortgage, lien or other incumbrence 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 o[ them hereby is preserved arid shall pass to and be held by the Moctgagee herein as security for the indebtedness to the Mortaagee herein described ot hereby secured, to the same extent thst it would have been preserved and would have been passed to and been held by thc Mortgagee had it been duly and regularly assigned. transferred, set over, and deliveted unto the Mort- gagee by separate deed of assignment, notwithstandins the [act that lhe same may be satisfied and cancelled of record. it being the intention of the parties hercto that the same will be satisfied and cancelled of tecord by the holders thereof at or about the time of the recordina of this mortgage. 5. In the event the ownership of the mortgaged premises, or any part thereof. becanes veated in a person other than the ~lortgagor, the Alortgagee may, without notice to the !Noc:ga~or, 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 v?ithout in any way vitiating ot discharsing the Mortgagor's liability hereunder or upon the debt hereby socured. No sale of the premises hereby mortgaged and no forbeuance on the part of the Mottga6ee, snd no ex- tension of the time for the payment of the debt hereby secured givea by the Mort6agee s6a11 opera[e to release. discharge. modify, chanse or affect the ori6inal 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 ot 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 tully paid. ; 7. /n ~he event the niortgogors sell~ convey or transjer the ~nortg4ged pre~nises during.the lije oJ this niort- j gage, then [his mortgage shall, a~ the option oJ the Mortgagee hertin, 6econie inunediately due and paya6le jor lhe j Jufl suin oj the principal balance and interest ~hen due. ~ 8. The tenns "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the heirs, ~ personat representatives, successors and assigns of the respective parties hereto. Wherever used the sinsular ~ number shall include the plural and the plural the singular. and the use of any sender shall include all genders. ~ ~ Sign , sealed a e d i e presence of: l" ~~~1'L~l --i~5~`'-` • (Seal) , ~ . .-~1 i c - -t,. ~ , ~ (Seap i STATE OF FLORIDA COUNTY OF ~ ss ~ ST . LUC Betore me personally appeared MITCHELL C. BAIN and MARGARET BAIN~ his wife ~ to me well lu~own and known to me to be the individuals desctibed in and who executed the fore~oing 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 14th Day of August, 71 ~ ~ ~ , My Ccxnmission Expires: Ju~te 30 1975 Notary Pulrli~,.S ~ i~~~r i1LEG AhD RECORDED = ; _ J % - ST.IUCtE COUNIY fl.A. _ ~ ~ - ROGEQ ~OiTRAS _ : C~ERK CiaGU~t COURT ~ _ - : ' - ~ 214'7Q4 aECORU vER~f~EO . ` Auc 2l 1 06 PM T 1 ao~r. ~9~J P~ 42~