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HomeMy WebLinkAbout0293 i Our file 5-23,370 th~s mort~atr w othrr transfe~ u( utlr tu the morl`ared ptoperty ~n e?unYu~.shmen~ u1 ~he ~ndebttdness se:urrd hc~ebf, aU nght, utle and ~n~e~est ot ihe \b~~tatw ~n and to any insu~ance pohcies then m(urct shall pass ta the purcAase~ or graniee. j (h) Tu prrfcxm, comply w•ith and abide by euh snd cvery the shpulat~ons, a~~cements, cond~hon+ rnd ro~en~nt. ~n ca~d prom:ssory ! note ynd m th~. derd set io~th. 1 That ~t any ut sa~d sums ol money here~n roterrrd to be not prcxnptly and (ully pa~d ~~nh~n t~ftten days neat alte~ the samc seve~ally becixnes due and payaAle,~x eacA and erery the st~DulaUOns, a~~rements, rund~UOns and covenants o( sa~d prwn~s- say note and tA~s deed, or e~the~, are not (ully perfotmed, comDlitd ~uli and ab~ded Dy, the .aid a6src~ate sum menuaerd ~n sa~d ptum~ssory nott shall becume due aod paYablr fortAritA or theroa(~er •t thc option o( ~he No~tRatee as fully and comple~elY a~ if the said a~~re~ate sum ot said promi.sory note ~rac or~s~nally supulated to be paid on such dry, aayth~n` ~o sa~d p~omis~ory note or here~n tu ~he con~rary not~~ihsl~ndine. Thst ~n order to accelerate tht matunty of the ~ndebtedness hereby secuced, because of tht (~~lure ot Ihe Ma~lgagor ~o pay any ~ax, i assevsment, Gab~lity, obl~~auw? ix rncumb~ance upw~ sa~d p~operty, as hcrem prov~ded, ~t shall not be neces~ary ur requ~site that the ma~~a~ec shall (uct pay the same. 2. The \iottgagee may, at his option, and without wa~ving his right to acceletate the indebtedness hereby securtd a~d to [oreclose the same, pay either befote or after delinquency any ot all of those certain obligations required by th~ terms hereof to be paid by the ~tortgagor for the protection of the mortgage security or for the col- le~tion of th~ indtbttdness hereby secured. All sums so advanced or paid by the hlottgagee shall be charged into the mortgage account and become an integral part thereof, subject in all respects to the terms, conditions, and covenants of the aforesaid pn~missory note, and this mortgage, as fully and to the same exte~t as though a part of the original indebtedness evidenccd by said note and secured by this mortgage. excepting however, that said sums shall be repaid the !~lortgagee fotthwith upon its demand and be in addition to the regular monthly install- ments provided by the mortgage note. 3. That the abstract or absttacts of title covering the mortgaged property shall at all times, during the life of this mortgage, remain in possession of tfie Alortgagee and in event o[ the foreclosure of this mortgage or other tra~sfer of ti~le to the mortgaged property in extinEuishment of the indebtedness securcd hereby. all right, title and interest of the ~lortgagor in a~d to any such abstracts of title shall pass to the putchaser ot grantee. 4. To the eatent of the indebtedness of the Mortgagor to the Mortgagee described herein or secured hereby. the 1lortgagoe is hereby subrogated to the tien or liens and to the rights of the owners and hotders thereof of each and every mortgage, lien or other incumbrance on the land described herei~ 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 oC them hereby is presetved and shall pass to and be held by the ~iortgagee herein as security for the indebtedness to the illortgagee herein described or hereby secured, to the same extent that it vrould have been preserved and would have been passed to and been held by the ~Mrtgagee had it been duty and regularly assigned. transfened. set over. and deli~ered unto the Mort- gagee b~~ separate deed of assignment, notwithstanding the fact that the same may be satisfied and cancelled of record, it being the intention of the patties hereto that the same will be satisfied and cancelled of recotd by the holders theteo[ at or about the time of the recording of this mortgage. 5. in the event the ownetship of the mortgaged premises, or any part theteof, becomes vested in a person other than the ~lortgagor, the ~tortgagee may, without notice to the Noctgagor, deal with such successor or suc- cessors in interest Nith reference to this deed and the debt hereby secured, in the same manner as with the 41ort- gagor K•ithout in any w•ay vitiating or discharging the hlortgagor's liability hereunder or upon the debt hereby i secured. No sale of the premises hereby mottgaged and no Corbearance on the patt of the htottgagee, and no ez- ~ tension of the time for the payment of the debt hereby secured given by the ~iottgagee shall operate to telease. I discharge, modify, change or affect the original liability of the 111ortgagor herein either in whole or in part. ; 6. The lien of this deed secures and shali continue to secure payment of said indebtedness or indebted- ~ ness. however evidenced, whether by said promissory note or any renewal or eztension thereof or substitute there- ! for, or otherwise, until all such indebtedness shall have been fully paid. ~ ~ 7. In the e~•e»~ the morlgagors sell, convey or transjer Ihe mortgaged premises during the lije oJ this mort- F qage, then this mortgage shall, at the op~ion oJ ?he AlortRagee herein, 6ecome immediately due and payabfe Jor ~he ~ jull sune oj the p~inc~pal balance and interest then due. ~ 8. The tertns "Mortgagor" and "Mortgagee" whenever used in lhis instrument shall include the heirs. ~ personal representatives, successors and assigns oE the respective parties heret~. Wherever used the singular $ number shall include the plural and the plural the singular, and the use of any gender shall include all genders. f ~ r ~ ~ igned, sealed a d iver in the presence of: r~ ,~,c~o~~ (Seal) ~ (SeaU ~ 1 1~ ~ ~ ~ ~ STATE OF FLORIDA I J ~5 COUNTY OF}~ ~ ST. LUC~IE JOHN D. DAVIS an ur.~arried man. ~ Bef~re me ersonally appeared ~ ~ to me w•ell known and known to me to be the individuals described in and who executed the foregoing insttument, :.;4 and acknowledged before me that they executed the same fot the purposes therein expcessed. WITNESS my hand _ and off~cial seal in the County and State last aforesaid this 2~t~1 D831 of January~ 1972 `r~ ~ ~!!Y.SU{ ~ , ~ : ~a S{~~l~' iy~. ~ R/q, .i ' ; . . ri i ~1 1 ~ ~ . ~1y Commission Expires: .TLIIIE 3O 19~5 Notary Public, State of _ _ - G'~, ~ ~ _ ,~r.• • - G , t~• .`.s~ FfLED AhJ ?ECOROEO ~ - , ' ST LUCIE COUNTY F~A. i'`•••••••~•~~';~':?, - R6CE "r. ? ~ITRAS ~ . ~ ~ , CLERK ~<«CUIT COURT . . RECaRB vi. ;~?tEO~ ~ ,1~ui ~b 9 s2 AN'T2 22~'733 ~o~~ 1~ ~ 2~ - - -s: - =