HomeMy WebLinkAbout1820 Our~file 5•24,301
th~s ~atp~e ~x o~ha~ transfe~ of hUe w the mortp~ed prope~ty m eaun~wshmen~ a the ~~de~teJ~rsi st:wcd herehy, a11 t~ght, utle
an+1 ~ntetest of the Ma~~a~a and to any ~nswance polic~es theo ~n force shall pass to the puscAaser or grantcc.
lA/ To perfam, comply +r~tA and ab~de bp cach and every tAe supulat~ons, ~~~eements, condihun~ and co~•en~nez in s~ed promissory
no~e and in this deed set tort~.
G) Tha~ if ~ny of said sums o! a+onry haeie re(eaed ~o De not praaptly ~nd tully pa~d w•uh~n fiftrrn drys neat after
the same sevet~lly becomcs Jue snd payable,or i( each and erery lAe st~pul~tio~s, at~eemznts, iond~lii~n. and co~enantc of sa~d prom~._
say nott . and lAis deed, or e~~her, are not tully perfonaed, compiied wrth a~J ab~ded by, the ;a~J aKercga~e sum rt+enUantd m s~id
panisaay note sbsll become due and payable (athwitA or thereaftet at the ophon of the \turtgasre as fully and completely ac if tAe
said a«tetate sus ot sa?d prom~sswy note rras on~~nally stipulated to be pa~d on such dsy, anythm` m said prom~ssory note or herein
to the contrary notWithst~nd~ne.
That in order to acceler~te [Ae rtutur~ty uf the indebtedness hetesy secured, btcause ot ~ht fa~lure o( ihe \1w~gagur ~n pay any ~a~,
assesameot, li~bility, obl~~stion .x encumbranct upon sa~d p~openy~ as herein provided, ~t shall not be neres.ary or ttqu~site that the
mottsatte shall first pay the samt. .
The Mortgagee may, at his option. and without waiving his right ta accelerate the indebtedness hereby
secured and to foreclose the same, pay either before or aRer detinquency any or a!1 of those certain obtigations
required by the tetms hereof to be paid by the Nottgagot tor the protection of the me~rtgage security or for the col-
leciion of the indebtedness hereby secured. All sums so advanced or paid by the !~1o~tgagee shall be charged into
the moctgage account anJ become a~ integral part thereoC. subject in all respects to the terms, conditions, and
covenants of the afoiesaid pramissorv note, and this mortgage. as fully and to the same extenl as though a part
of the original indebtedness evidenced by said note and secured by this martgage, excepting howevet. that said
sums shatl be repaid the 111ortgagee forthwith upon its demand aRd be in addition to the tegular monthly install-
ments pwvided by the mottgage note.
3. That the abstract or abstracts oC title covering the mortgaged property shall at all times, during the life
of this mortgage, temain in possession of the Mortgagee ar~d in event oi the foreclosure of this mortgage or other
transfer o[ titlc to the mortgaged propetty in extinguishment of the indebted~ess secured hereby, all right. title
and interest of the ".Nortgagor in and to any such abstracts of title shall pass to the purchaser or grantte.
4. To the extent of the indebtedness of the Mortgagor to the Mortgagee described herein or secured hereby,
~hr Rlnsl~soee is herebti subro~atcd to the lien or lisns and to the rights of the owners and holders thereot of each
and evety mortgage, lien or other incumbrance on the land described herein which is paid and!or satis[ied. in
whole or in part, out of th~ praceeds of the loan described htrein or secuted hereby. and the respective liens of
said mortgages, li~ns ar other incumbrances, shall be and the same and each ot them hereby is preserved and shall
pass to and be held by the \tortgagte herein as security fo~ the indebtedness to the ~tortgagee herein described
or hereby secured, to the same extent that it would have been preserved and would have been passed to and been
hel~ ~y ~he !?lortgage~ had it been duly and regulariy assi~ne~. transferred. set over, and delivered unto the Mort-
gagee by separate deed of assignment. notwithstandina 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 record by the
holders thereof at or about the time of the recordin6 of this mortgage.
5. tn the event the ownership of the mortgaged Qremises. or any part thereof. becomes vested in a person
other than the ~lortgagor, the ~lortgagee may, without notice to the Mortgagor, deal with such successot or suc-
cessors in interest Kith re[ecence to this deed and the d~bt hereby secured. in the same manner as with the hlort-
gagor without in any w•ay vitiating ot discharging the Mortgagor's liability hereunder ot upon the debt hereby
secured. No sale of the premises hereby mottgaged and no forbearance on the part of the Mortgagee, and no ex-
tension of the time for the payment o[ the debt hereby secured given by the 4fottgagee shall operate to release.
discharge, modify, cha~ge or affect the origina! liability of the Mortgagor herein either in whole or in part.
6. The lien of this deed secures and shall continue to secure payment of said indebtedness or indebted-
ness, however evidenced, whether by said promissory note or any renewal or extension thereof' or substitute there-
for, or otherwise, until all such indebtedness shall have been fully paid.
7. /n the event the mortgagors se[I, convey or transjer the mortgaged premises during the Irfe oJ this mort-
RaRe, then this mor[gage shall, at the option oj the Alortgagee herein, 6ecome inernediately due and payable jor the
jull sum oj the p~incipnl balance ar~d interest then due,
8. The temns "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the heirs.
personal representatives, successors and assigns of the respective parties hereto. Wherever used the singular
number shall include the plural and the plurat the singular, and the use of any gender shatl include all genders.
, ` ~ ~
Si cd. seale nd ere in the presence of: (Seal)
(Seap
v
, STATE OF FLORIDA I
COUNTY OF~ j ss
ST. LUCIE i ELEANOR W. SULLIVAN, an unmarried woman,formerly
Before me pecsonally appeared j~nOWR as ELEANOR W. C. BAKLR, S1SO f~~~~~~~t~ ~~r~"'~~NS =
to me well known and known to me to be the individusls desctibed in and who executed thc t fhe
and acknowledged before me that they executed the. same for the purposes therein ezpressed. WITNESS my hand
and official seal in the County and State last a[oresaid this 13th D8y Of MSy~ 1972.
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`1y Commission Expires; June 3O ~ 1975 Notary Pubtic, State of I'' . ;
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