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HomeMy WebLinkAbout1050 i ! , ~ . ~ Our file 5-24,006 tA~s mwt~a~e w uther usnsfe~ ui u11e ~o ihc mu~t~ared popert~ ~n e~unru~aAmem u~ lht mdebte~ness cecwcd hereby, all r~~ht, htle am1 ~n~ercrt uf the \lo~~~a~w ~n ~nd 1o any ~nswaere pulicws ~hee m force sAall pass la ~he pwch~ser or ~ryntee. (h) Tu perl~wm, •umply ~r~th and ab~de by each and every the st~pula~~uns, a~rtemeots, cond~huos and covenyn~s ~n sy?d pramssay _ ~ : .~~_.1 • f...~A ~ uu~C ~..u . _ . . . _ . (i 1 Thal d any ot sa~d sum~ ut monr) here~n rtfrrred to be nul prumptly and fully Daid ruh~~ f~f~ten daYs eext a(te~ the samt +evrraily becanes due and payable, cx~~f earh and eve~X tAe s~~pulau~~.~s. a~reemretc, eund~t~ues and covenants o( sa~d prom~s- swy t~atr and :.'.ss ~:rd. or e~ther, a~e no! fe!!y per(ormed, canpl~ed r•~t!? and as~ded tht sa~d a~rcp~e sum menuontd m said pt~aissay nute shall become due and paY+~ble t«thr~tA or thercatter at the optiun ot tAe \1o~t~s`ee as lully and complNely as i( the said a«re~ate sum of sa~d prom~cs«y note Was ~xiemallY «~Dulated to be paid an such d~y, anytA~n~ ~n sa~d promissoty note or herein to tht contrary not~•ithstandin(t. (j 1 That ~n order lo acceluate the mawnty of the mdebtedness hereby secured, ~ecause u( the fa~lure ot the \1~x~6siw to psy aoy tai, assecsment, I~ab~lity, obli6a~~on or rn.umbnnce upon sa~d property, as hercin provided, ahaU not be necea~ary or tequisite that the ' m«c6a~te shall hr.t psy the same. ~ 2. The ~lottgagee may, at his option. and without waiving his right to accelerate the indebtedness hereby secured and to foreclose the same, pay either before or after detinquency any or all of those certain obligations reqwred by the terms hereof to be paid by the ~tortgagor for the protection of the mortgage security or [or the col- lection of the indebtedness hereby secured. All sums so advanced or paid by the ~lortgagee shall be charged i~to the mortgage account and become an integral part thereof, subject in all respects ta the terms, conditions. a~d covenants oG the aforesaid promissory note, and this mortgage, as fully and to the same extent as though a part of the original indebtedness evidenced by said note and secured by this mortgage. excepting however. that said sums shall be repaid the Alortgagee forthwith upon its demand and be in addition tv the regulaz mo~thly install- ments provided by the mortgage note. 3. That the abstract or abstracts o[ title covering the mortgaged propttty ~naii ai aii times, ciuting tii~ iit'e of this rtx~rtgage, remain in possession of the !1lortgagee a~d in event of the foreciosure of this mortgage or other traas~er af title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right. title and interest of the ~iurtgagor in and to any such abstracts of titte shall pass to the purchaser or grantee. 4. To the extent of the indebtedness of the Mortgagor to the 4lortgagee described herein or secured hereby, the ~lortgagee is hereby subrogated to the lien or liens a~d to the rights of the owners and holders thereof of each and every mortgage, lien or other incumbrance oa the lund described heiein 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 of them hereby is preserved and shall pass to and be held by the ~lortgagee herein as security for the indebtedness to the 111ortgagee herein described ~ or hereby secured, ta the same eztent that it would have been preserved and would have been passed to and been : held by the !1lortgagee had it been duly and regularly assigned, transfened, set over, and delivered uato the Mort- s gagee by separate deed of assignment, notwithstanding the.fact that the same may be satisfied and cancelled of record, it being the intention of the parties hereto that the same will be satisfied and cancelled ot record by the holders thereof at or about the time of the recording of this mortgage. 5. In the event the ownership of the mortgaged premises. or any part thereot. becomes vested in a person other -than the !1lortgagor, the \tortgagee may, without ~otice to the ~lortgagor, deal with such successor or suc- cessors in interest W~ith reference to this deed and the debt hereby secured. in the same manner as with the Mort- gagor without in any v?ay vitiating or discharging the Mortgagor's liability hereunder or upon the debt heteby secured. No sale of the premises hereby mortgaged and no forbearance on the part of the Mortgagee. and no ea- tension of the time for the payment of the debt hereby secured given by the Mortgagee shall operate to release, discharge, modi[y, change or affect the original liability of the ~lortgagor herein either in whole or in part. ; 6. The lien uf this deed secures and shalt continue to secure payment of said indebtedness or indebted- I ness, however evidenced, whether by said prumissoty note or any renewal or extension thereof or substitute there- ~ for, or otherwise, until all such indebtedness shall have been [ully paid. ~ 7. In the e~•en1 the mortgagors sell, co?+vey or t?ansjer the morlgaged premises du?ing the liJe oj this mort- E qnge, then this mo~tgage shall, at Ihe option oJ the ,~lortgagee herein, become immediately due and payable (o~ the jull sum oJ the principal balance and inte?esf then due. 8. The terms "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the heirs, personal representatives, successors and assigns o[ the respective parties hereto. Wherever used the singular number shall include the plural and the plural the singular, and the use of any gender shall include all genders. ned, seal an vere in the ptesence of: (Sea!) (Seap . STATE OF FLORIDA I COUNTY OF ~S : ST . LUCIE ` Before me personally appeared $OB M. YOUNG actd ROSALIE ANNA YOUNG~ his wife~ ~ to me well known and known to me to be the individuals described in and who executed the foregoing instrument. and acknow~ledged before me that they executed the same for the purposes therein expressed. WITNESS my hand and official seal in the Count} and State last aforesaid this ZSt DSy of Apr 1~ 1972 _ ; O . . , \1y Commission Expires: Jtlrie 3O ~ 1975 Notary Public. State of ~10r - ~tLEp ANO REC~ . yy,~ 0~~ r. ' ' 3 sj' ~fR O~ItAS ` C1RC01T CO~t ~ : ~~p~~R?i1f0 ~ . . ~~13 2 i~P~'~Z ~4os - ~~201 ~1~48 - - - - - - - _ _ _ v~F .