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Home My WebLink About1286 r'--O Our File 5-23,040 ~h~s murtKaKe ~x uthe~ ttansfe~ u( titic ~u the mu~tra~cd ~xope~q ~n e~un~uishment W lAe ~ndebted~ess ~c.utrl ~ereAy, all n~ht, citle rnd ~Merest of the Mo~t~a~or ~n and tu any msurance pol~.~cs then in (urct shall paas ~o tAe putt~aaer ot ~rontet. (hl Tu pttiwm, cumply w~tA and ab~de by each anJ e~ery the cupul~l~.MS, •~teements, cond~UOns and cosen~nis ~n cs~d prum:.sury no~e and ~n th~v dtcd .et forth. 1 Thst any of sud sums ut munr) herun rc(rr~rd to bt not pn~mpti~ and tully paid ~ ~~h~n f~hrcn day+ nc~t etier the same cevet~lly becomea Jue and payable, ~ e( each and eve~y the st~pulauons, aercemrnts, cond~t~ons ~nd co~en~nts of said prom~s- soty note and tMs deed, o~ euher, are not (ully per[ormed, com0l~ed ~~th and ab~dtd by, thr .a~d ag~rc~a~e sum menuoned in se~d ~xumusory nute sAall becaoe due and payable fcxtAruh ur theres(~er •t the ophon oS the \1urt~a~ee as fuliy and comnlNely as i( thc .a~d a«tep~e sum of ~aid ptom~sxory note was on~~nally shpulated to be pa~d ao ~uch d~Y, anyt~m~ ~n ss~d prom~ssorY note or here~n ti~ tAe contrary notr~itl~standm{. 1 That m order to accele~~te the mawnty of the mdebtedness heteby vecwed, because o( ~re (a~lure o( the \lurtsa`.~r pay any ia~, asse.sment, lub~hty, obli~auon cx encumbrance upun sa~d property, as Aercm pro~~deJ, ~1 sh~il not be oecessary w requ~s~te tAat the mortradee sh~il hrs~ pay the same. 2. The ~lortgagee may, at his opt~on, and without wa~v~ng his right to acceltrate the indebtedness hereby secured and ta [oteclose the same, pay either bef~te or after delinquency any ot all of those certain obligat~ons requ~red by the terms hereof to be paid by the ~lottgagor for the protection of the mortgage secutity or fot the col- Irctu~n of tha indebtedness heteby secured. All sums so advanced or paid by the Mortgagee shall be charged into ti~e mortgage accc?unt and become an ~ntegral part thereof, subject in all tespects to the terms, conditions, and cuvenants of the aforesaid prom~ssory nate, and this mortgage, as fully and to the same extent as though a part ~~f the original indebtedness evidenced by said note and secuted by this mortgage, excepting howevec, that said sums shall be repaid the Alortgagee Corthwith upon its demand and be in addition ta ihe regular monthly ~nstall- ments provided by tfie mottgage note. 3. That the abstract or absuacts of titie covering the mottgaged property shall at all times, during the life of th~s mortgage, remain in possess~on of the \tortgagee and in event of the foteclosure o[ this mortgage or other transfer of title to the mortgaged property in e~ctinguishment of the indebtedness secured hereby, all tight, title and mterest of the ~lortgagor in and to any such abstracts a[ title shall pass to the purchaser or grantee. 4. To the extent of the indebtedness of the Mottgagor to the Mortgagee described herein os secured heteby, the ~tortgagee is hereby subrogated to the lien or liens and tu the rights o[ the owners and holders theteof of each and every ~nortgage. lien or other incumbrance on the tand desctibed herein which is paid and`or satisfied, in whole or in part, out of the proceeds of tht loan described herein or secuted hereby, and the respective liens of said mortgages, liens or other ~ncumbrances, shall be and the same and each of them heteby is pteserved and shall pass to and be held b~~ the ~lortgagee herein as security for the indebtedness to the ~lortgagee here~n described or hereby secured, to the same e~tent that it woufd ha~e been preserved and would have been passed to and been held by the ~lortgagee had ~t been duly and regularly assigned, ttansferted, set over, and deliveted unto the Mort- ~ gagee by separate deed of ass~gnment, notwithstandioa the fact that the same may be satisfied and cancelled of I record, it being the intention of the part~es hereto that the same will be satisfied and cancelled of record by the ~ holders thereo[ at nr about the time of the recording of th~s mortgage. ~ 5. In the event the ownersh~p of the mortgaged preEniscs, ot any part thereof, becomes vested in a person ~ uther than the \tortgagor, the \tortgagee may, aithout notice to the Mortgagor, deal with such successor or sur ~ ce~sor~ ~n ~nterest with reference to this deed and the debt hereby secured, in the same manner as with the ~1ort- ~ gagor without in any v~~ay vitiating or discharging the Mortgagot's liability hereunder or upon the debt heroby s serured. Na sale of the premises hereby mortgaged and no forbearance on the part of the '~lortgagee. and no ex- 3 tension of the time for the payment of the debt hereby secured given by the ~lortgagee shalt operate to release, : discharge, modify, change or affect the original liability of the ~lortgagor herein eithet in whole or in part. ~ 6. The I~en of this deed secures and shall continue to secure payment of said indebtedness or indebted- ~ ness, however evidenced, whether by said promissory note or an~~ rencwal or extension thereof or substitute there- ~ Cor, or otherN~se, unt~l all such indebtedness shaU have been fult}~ paid. 7. !n ~he e~•en1 the mortgagors se!l, convey o? t?ansJe~ the mo~tgaged premises during the life oj this mort- ~ xaRe, then th~s mo~tgoge shall, at the option oj the :lfortqagee here~n, become immediately due and payable Jor the ; full sum oJ the p?incipal bnlance and interest then due. 3 8. The terms "~tortgagor" and "~'lottgagee" whenever used in this instrument shall include the heirs, `Y personal representatives, successors and ass?gns of the respective parties hereto. Wherever used the singular : - number shall include the plural and the plural the s~ngular, and the use of any gender shall include all genders. ~ •r . ~ Sig d, seal and del ~ ed in the presence of: ~~-<<-~~! tSeaU (Seal) , STATE OF FLORIDA I ~ COU~~Y O~~ j ss - Be(ore me personally appeared FRANCES PETRUCCI, an unmarried man; also known as ~ to me well knovvn and known to me t~b~'tff~~~~~a~~d~e~~tfbcd in and who eaecuted the foregoing instrument. and acknowledged befote me that they executed the same for the purposes therein e ressed. WITNESS my hand and off~cial seal in the County and State last aforesaid this llth Day Of ember, 1971 ~ ` # ' J f 1975 Flori ~ : \1y Commission Expires• t~~;~~ Notary Public. State of ~ ~ S~~l1~E ^.01;~AS - ` ~ ~ ~ ~"s : ~ aocc ~ ~s covnT . . - CIEAI~ C , :s: _ - = RECORD VE~?FIEO~~ - _ - ~a 2 , . y~. N~~ _ , gooK ~g7 PacE1285 ~ = ;~Z9~~ 3