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Home My WebLink About1734 Our file 5-23,342 ~h~a mat ~•a~e a~ Aer tr~nsfer ol utle tu tRe mott~a~ed ptoperty in e~~~~auish:nen! o~ t~e :ndebuJnesa ~e:u~cd hc~cr~, ,ii nirt:, i,tic ~nd ~n~e~e~T oI tAt A!o~tp~w m~nd to any ~nsuunce policuy thee ~n fNCe shall pass to tAe pvr.A~se~ or ~rantee. (A) Tu pe~~~xm. comply ~~uh rnd ab~dt b~ ucA and every iAe st~pul~t~ons, a~rcemenis. conJ~hon~ and ~oven~n~. ~n .•~d pr,.m~..,.~y i i no~e a~d io th~s deed sei (onh. (~1 That d any o( suJ sums ol monry hete~n reterred to De not promptl> and full~ pa~J ~~~h~n ~~Nccn a~~. n:~: .~+trr the asme severally becoats due ~nd payable,~x J each and eveey the sUput~uons, as~eemcnts, cen.!~twns •ed io~enants ..t .a~J pnKr.~s- ~ay no~t and tn~s deed, or euher, ~re eot tully per(amed, canpi~ed rv~th and •bided Dy, the ~a~d ae~rop~e swn R.enu~.ncJ in ~~~d pom~s~aY oote sh~ll ~ecaee due and pa)vble fortAr~th a tAereafter the opuon ot tAe Ma~~a~ee as tully and comple~cly ~t ~he said a«re~ate sua+ of sud prom~ss~xY nole was w~~~n~lly appula~ed to De pa~d on suc~ day, snytA~n~ ~n saiJ prom~s~ni~ m.~c o~ hr~e~n io the coetrary noar~ihatandins. 1 TAat ~n order to acceler~le ~he autur~ty u( lhe ~nde0ttdnesa Aereby sec~red, because o( tAc failure of tAe \lortsat•`< D+> assecsmen~, I~aD~lit)•. obl~~ahon ix rncumbrance upon 9t~d prope~tY, as Aerein proviJtd. ~h~ll not be ne~es..vy .M reQws~te t~a~ the mo~~~a~ee sAall fus~ pay tAe same. 2. The \iottgagee may, at his option, and w~thout wa~ving his r~ght ta accelerate the ~ndebt~dness hereby secured and tu [oteclose the same, pay eithet before or altet dtlinquency any or all of those certain obligat~ons required by the terms hereof to be paid by the Nortgagor for the protection of the mnrtgage securit~• or for the col- ~ lect~on of the indebtedness hereby secuted. All sums so advanced ot pa~d by the ~~ortgagee shall be charged intu ' the mortgage account anJ become an integral patt thereof, subject in all respects to the term~, cond~tions, and 2 covenants oG the aforesaid prort;~ssory notz, and this mortgage, as fully and ta the same extent as though a part of the oreg~nal indebtedness evidenced by said note and secured by this mortga~e, excepting however, that +aid sums shall be repaid the hlott~agee forthwith upon its demand and be in addition to thc regular munthty ~n,tall- ments provided by the mortgaae note. ` 3. That the abstract or absuacts of title coveting the mortgagod propeny shalt at all times, dunng ihe I~fe ~ of this mortgage, rema~n in possession of the Mortgagee and in event of the foteclosure of this mortgage or other ; transfer of title to the mortga~ed ptoperty in extinguishment of the indebudness secuted hereby, aii right, ~~tle ; and mterest of th~ \lortgagor in and to any such absuacts of titie shall pass to tht purchaser or grantee. ~ ~1. To the extent of the indebtedness of the ~Aottga~or to the Mottgagee described her~in or secured hereby, ~ thc \lortgagee is hereb~• subtogated to the lien ot liens and to the ti~hts of the owntrs and holdets thertof of each and every mortgage, lien or other incumbrance on the land described hetein which is paid and ~or satis~ed, in whole or in part, out of the proceeds of the loan described herein ot secured hereby, and the respective liens of sa~d mortgages, liens or other incumbrances, shalt be and the same and each of them hereby is preserved and shall pass to and be held by the ~lortgagee herein as security [or the indebtedness to the ;1lortgagee herei~ dtsctibed or hereby secured, tu the same extent that it would have been preserved and would have been passed to and been held by the ~Mrtgagee had it been duly and ~egulatly assigned, transfened, set uver. and delivered unto the \lort- ~ gagee by separate deed of assignment, notwithstanding the fact that the same may be satisfied and cancelled of ~ record, it being the mtention of the parties hereto that the same w•ill be satisfied and cancelled of tecord by the s holders thereof at or about the time of the rec~rding of this mortgage. 5. In the e~•cnt the ownership of the mortgaged ptemises, ot any part theteoC, beccxnes vest~d ~n a parson other than the ~lortgagor, the ~fortgagee may, Kithout ~otice to the ~lortga6or, deal with such successor or ~uc- cessors in interest Nith referenct to this detd and the debt hereby secuted. in the same manner as with the !11ort- gagor without ~n am• way vitiating or discharging the 1lortgagot's I~ability hereunder or upon the debt hereb~~ ~ sccured. No sale af the premises hereby mortgaged and no forbearance on the part of the !~lortgagee, and no ei- tension of the timc for the Payment of the debt hereby secwed given by the Nortgagee shall operate to release, ~ discharge, mc~d~f~, change or af[tct the original liability of the ~1lortgagot herein either in whole or in part. ~ i 6. The I~en of this deed secures and shall continue to secute payment of said indebtedness or indebted- E nes~, however evidcnced, whether by said promissory note or any renewal or extension thereof or substitute there- € for, or otherM~se, until all s~ch indebtedness shall have bten fully paid. ; 7. /n the erent ~he n~orlgagors sell, convey o? trans/er the mortgaged pre?nises du~ing the liJe oJ this mort- ~ ~ ,qaRe. then thi~ mortgvge shall, ut the optinn ol the :Ilortgagee herein, 6ecome in~mediately due and paya6fe Jo? the ' Ju!! sum o/ the p?incipnl balance and interest then due. t S. The terms "A+lortgagor" and "hlortgagee" w~henever used in this instrument shall include the he~rs, - ~ - perconal representatives, successors and ass~gns of the respective parties hereto. Wherever used the singular ; r number shall ~nclude the p{urat and the pfural thz singular, and th use of any ender shall include all gendecs. = ~ S - d ~ , 1 " ± ~ Si ed, seale nd iv rcd the p sence o(: ` ' ~ - (Seal) ~ ~ , ~ Y~L1 r ~ ' r;-L~...e_ ~C,~-?G (Seal) ~ ~ ~ ~ ~ STATE OF FLORIDA I ~ . ~ SS ' couNTV /o~ T = Sl• LE ~ 3~ Betore me pecsonally appeared LEO SANDLIN and LOVIE SANDLIN ~ his wi e - to me well known and known to me to be the individuals desctibed in and who executed the foregoing instrument, and acknowledged before me that they executed the same for the purposes thetein exptessed. WITNESS my hand Y; and offic~al seal in the County and State last aforesa~d th~s 23rd Day of Deeember, 1971. - • ~ _ - s v i F ~1y Ccxnmiss~on Expires: Ji~np 3(~_ 1975 _ Notary Public, State of ~ pKG '~EGa ~ ' . _ f11.EG • r. ; ~011N1Y FLA. . St• ROC,EF. P~~t1A?S _ - - ~ . . ' '`L ~lEi1K C1 G`J~t COUaT f ~t:: ~ r _ . ~ ~ Rc~pRD V: . 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