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Our file 5-22,508
~A~s wo~t~~~e a otAe~ tnes(ei ot title to ~Ae mat~a~ed ptoprty ~e eatinawsAment ot the ~ndes~edness +tcwed l~ereny, rll ~~~A~, t~~le
~ed ~n~e~ss~ of tAe Alat~a~o~ ~n ~nd 10 ~oy ~new~ace poi~c~e~ Ihen (orca sh~ll p~ss ~0 1he purcA~se~ w ~rsnue.
(h/ To pe~lam. canply v~W •b~de by e~ch and every tAe •t~pulN~ons. ¦~reement~. condN~ona and eoreeaM++ in r.~id p~um~..~aY
no~e and ~n tA~s deed set (atl~.
(~1 TU~t d~ny of a~id susa o( mo~eY Ae~e~e refe?~ed lo st not p~omp~lY and luliy pa~d 4uA~n hhecn Jrq. no~t ricri
the tame sever~lly becoaea due •nd p~Y~ele.~x e~cA ~nd ere~y ~he st~pul~t~ons, ~~~eemenu, conJ~l~oe• and covenani~ o( .a~J pum~.-
s«y note •nd tA~s deed, o~ e~ther~ ~re no~ tully pe~tae~ed, complied w~tA and ab~ded Sy, the •a~d a~~rt~slt sum eneeunnrd ~n .•~d
promusay note sA~ll becase due and p~y~ble twU+.~tA a ~Aereaf~er the op~~on ot ~Ae Mort~a~ee ~s fully ~nd compleul~ ~x the
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s~id ~~{tei~te aum of s~~d p+an~sswY note w~s a~~~nally supul~ted ~o se pa~d an suc~ d~Y. +nylA~n~ ~n asiJ prom~s~ury ~ote cx here~n
ta ~he roMrary no~~~tha~~nd~n~,
V) TA~~ ~e arde~ to accele~~te tAe ma~uriiy o! the iedeEiedaes~ Re:eby sec~red, bec~use of ~he f~~lu~e of the Mw~~a~~N pa~ +ny ~s•, ~
assesamtnt, I~~b~l~ty~ obh~auon or encumbance upa+ sud prop~~ty~ •s hue~n prov~de~t. shall not be eecea~ary ur reQu~s~~e iha~ th.• ;
mor~s~~ee sh~ll fust pay tAe ~~ae. ~
The !Nor~~agee may, at his option, and without waivin~ his ri~ht to accelerate the indebtedness hereby
secured and to fotectose tl~e same. pay eithec beforc o[ a[ter delinquency any or all of those cett~in obl.i~at~ons
rcquired by the terms hereot to be paid by the Mott~aeot tor the ptolect~on of the mnrt~ate security o~ tor the col-
Ir~tion of the indebtednsss heteby secured. All sums so advanced or paid by the lNort~a~ee shall be char~ed into
~he mortga~e account and become an intefral put thaceof, subject in all rospects to the lermc, conditions, and
covenants of the aforesaid p~omissory note, and this mott~a`e, as tully and to thc same eatent as thou~h a part '
of the ori~inal indebtedness evidenced by said note and secured by th~s mort~a~e, excepti~g however, that said
cums shall be repaid tht A1oct~a~ee forthwith upo~ its demand and be in addition to lhe rejular muethly ~nstail-
ments pcovided by the mort~a=e note.
3. That the abstract ar absuacts ot title coverin~ the mort~a~ed property shall at all times. durin~ the life
of this moctga~e, remain in possession of the Morteasee and in event of the foreclosure of this mort~ase ot other
transfer of title to the mortga~ed ptoperty in extin`uishment of the_ indebtedness secured hereby. all ri~ht, t~tie
and interest of the Mort~a=cx in and to aey such abstracts of title shall pass to the purchaser or Srantee.
4. To the extent of the indebtedness of the 1~Wrt~a~or to the Mortsa~ee described herein or secured hereby,
thc Alortga`ee is hereby subto6ated to the lien or liena and to the ~i~hta of the owners and holders tb~reof of each
and every mortga~e, lien or other incumbra~ce on the land described herein which is paid and%or satistied. in
whole or in part. ~wt of the ptaceeds of the loan described hetein ot secwed hereby. and the respective liens of
sa~d mortaag~s, liens or other incumbrances, shall be and the same snd each of them heteby is preserved and shail
pass to and be held by the Mortgagee herein as security !ot the indebtedness to the Mortgagee herein desc~ibed
or hereby secured, to the same extent that it would have been preserved snd Mould have been passed to and been
held by thc \Mrtsagce had it been duly and re6ularly assigned. transfened, set over, and delivered unto the Mort-
gagee by separate deed of assi~nment, notwithstanding the fact that the same may be satisfied and cancelled of
reccud, it being tha intention of the parties hereto that the same will be satisfied and canc~lled ot tecord by the
holders there~~f at ~?r about the time of the recordin` of this mort`age.
5. In the event the av?•ntrsbip uf the mortgaged premises, or any part thereof. becomcs vested in a person
other than the ~brtgagor, the ~lortgagee may, without notice to the Mottgaaor. deal with such successor or suc- .
cecsors in intere~t w~th reference to this deed and the debt heteby secuted, in the same mannet as with the ~riort- ~
gagor v?•itAout ~n any w~ay vitiating ar dischargin~ the Alortgaaor's liability h~ceunder or upon the debt hereb~~
secured. No sale of the premises hereby mottgaaed and no fotbeacance on the patt of the !Nottgagee, and no ex-
tension of the time [or the payment of the debt hereby secured given bv the Mottgagee shall operatc to release,
discharge, mod~fy, change or affect the original liability of the 1~lortgagot_herein either in whole or in part.
6. The Gen of th~s deed secures and shall continue ta secute payment of said indebtednes~ or indebted- E
ness, however evidenced, whether by said ptom~ssory note or any renewal ot extensian theteof or ~ubstitute there-
for, or otherwise, until all such indcbtedness shall hav~ been fully paid.
~ 7. In ~he erenr lhe n+o~tgngors seU, convey a~ transJer tht rnortgaged premises du?ing the l~Je oJ ~his ?no?t-
E Xuge, thea thrs mo?~RaAe shall, a~ the option oJ the .Sloitgagee herein, becon~e immediately due and ~wyable Jo~ thr
; full su?n o/ the pr~nc~pvl balance and interest then due.
~ R. The tertns "~1ort6agor" and "~lottgagee" whenevet used in this instrument shall ~nclude the hcirs, •
~ per~onaf tepresentatives, successors and assigns of the respective patties hertio. Whetever used the s~ngular
~ , numt+er shall ~nclude the plural and tht plutal the s~ngular, and the use of any gender shall incfude all genders. t
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Sig d, ceale d iv ed ~ e presence of: / /''~~C~~~2~`'~Cl"__ (Seal)
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~1.QLddd-~CZGt~G~(l~ ~?d~.t ( Se a I )
STATE OF FLORIDA I
COUNTY S~~C~,{ ss
Ll~l
Before mc Personally appeared ~pZELLE MADDRIE attd MATTIE MAE MADDRIE, his Mife
to me wefl known and known to me to be the individuals described in and who ezecuted the foregoinE'}j~tsiuAent, -
~ and acicnowled~cd before me tha~ they executed the same for the purposes therein expressed. WITN~~my hand :
and off~cial seal ~n the County and Sute last aforesa~d th~s 2$th D8~? of Au 1971~ ~ ;
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~1y Comm~ss~on Exp~res: Jtuie 30, I.97S Notaty Publ~c, State ot Florida= ~ _
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