HomeMy WebLinkAbout2982 ~ Our file 5-25,150
th~i~ mortgage w otAer uaasle~ of utlr ~o thr murtYa~trd ptopcrly ~n exungw~hmrnt w tAe ~nJeb!cdnc.~ .eiwrd heirh~, ~igh~, htlc
and intercsl uf ~he ~fun~aiur ~n and to anY ~nsu~an.e pul~c~cs thcn in (iucr shsll p,~~s to tF_ pu~cha+rr or g~rn~er.
(h1 Tu pen~am, ~irnply w~th and ah~~~ by ea.A and eve~y the st~pulahuns, a~rccmeMS, cond~teon. ~nd co~rnant. ~n .r~d pr~~mi.swy
nott and th~s dreJ stt (prlA,
,
That any uf sa~4 sums u! m.~ncy hete~n rcfrnrd tu be nut prumptly anJ (u11y p~~d •~~th~n (dtrrn Jay. nrat af!er
the same sevcrally becomcs due and payaAlr, ur if e~.h rnd eve?y t~e shpulaUonc, aRtcemrnh, .~~nA~t~on. and co~enant+ uf sa~d p~wn~.-
swy no~e and th~s dred, or euAer, arc not Cully pertMmed, compl~ed v:~th and sb~ded e1', thr ~n~d agg~egrte sum mcnuonrJ in se~d
prum~ssot>• oote shall bec~xne ddr dO~ p,1\'.fY~If lntthu~Ih ut the~tl!(trr a[ Mt ophon of tht S1urt~t~gcr a~ (u!!>' and rumplr~elY ss tht
sa~d aaareg~~e sum ot sa~d prcxm..or~~ note ~as onginally s~~pulated to be pa~d ue wch d~y. anyth~~g ~o sa~d prcxn~..uty note or hercin
to the contrary not~uhsund~nE.
1 That ~n ordrr ~u ~ccelerate the n,atun~y u( tht indebtedne+s htreby srcut~d, Aecause ut ~ha (a~turt uf the ltor~gagu~ a~ pa>~ eny~ ~a~,
~ssr~sment, iuh~itt~, obl~gah~,n or rnrumhrancc upon sa~d proprrty, as htrrin pn,~~ded, ~t Shai! not be nr~e~.a~~ ~x tr~wcue ~hat thr
mo~tEagee shall f~rct pay the .ame.
2. Thc \iartgaRee may, at his option, and without w•aiving h~s r~ght to accele~ate the indebtedness hereb~•
arrured and to foreclose the same, pa~~ either before or after delinquency any or all af those certain obiigations
requ~red by the terms heteof to be paid by the \lottgagot for the protection of the mc~ttgage securit~• o~ far the col-
lection of the indebtednecs hereby secured. Ait sums sa advanced or paid b~• the !lfortgagee shal! be charged into
the m~~rtgage arcount artd brcome an integral part thereof, subject in all respects to the term~, conditions, and
covenants oL the aforesaid promissary note, and this mortgage, as fully and to the same extent as though a part
of the ariginal indebtedness evidenced by said note and secured by this mortgage, excepting how~ever, that said
sums shali be repaid the \tortgagee forthwith upon its demand and be in addition to the tegular monthly install-
ments ptovided by the mortgage note.
3. That the abstract or abstracts of tille covering the mortgaged propert}• shall at all times, during the life
of thi~ mortgage, remain in possessi~n of the ~lortgagee and in event of the foreclosure of this mortgage or other
transfer of title to the rm~rtgaged property in extinguishment of the indebtedness secured hereby, all right, title
and interest of the \tortgagor in a~d to any such abstracts of title shall pass to the purchaser or grantee.
4. To the extent of the indebtedness of the Mortgagor to the ;ltortgagee de~c~ibed herein or secured hereby,
the ~lottgagee is hereby subrogated to the lien or liens and to the rights of the ow~ners and holders thereof of each
and every mortgage, lien or other incumbrance on the land described herein which is paid and•or satisfied, in
whole or in part, out of the praceeds of the loan described herein or secured heteby, 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 hcld by the \lortgagee herein as secutity [or the indebtedness to the ~lortgagee herein described
or hereb~• secured, ta the same extent that it w•ouid have been preserved and would have been passed to and been
helJ by the \lortgagee had it been duly and regularly assigned, transf'erred, set over, and delivered unto the Mort-
gagee by separate deed of assignment, notwithstanding the fact that the same may be satisfied and cancelled of
record, it being the intention o! the parties hereto that the same u•ill be satisfied and cancelled of record bv the
holders thereof at or about the time of the recording of this mortgage.
S. In the event the ow~nership of the mortgaged premises, or any part thereof, becomes vested in a petsort
other than the ~lurtgagot, the \tottgagee may, a•ithout notice to the ~tortgagor, dea~ with such successor or suc-
cessors in interest uith reference to this deed and the debt hereby secured, in the same manner as with the 1~1ort-
gagor H~thout in an~• way vitiating or discharging the '.1lortgagor's liability hereunder or upon the debt hereby
socured. No safe of the premises hereby mortgaged and no Corbearance on the patt of the hlortgagee, and no ex-
tension of the time for the payment of the debt hereby secured given by the 4lottgagee shall operate to release,
discharge, modify, change or affect the otiginal (iability of the :~lortgagor herein eether in whole or io pari.
6. The lien of this deed secures and shall continue to secure payment of said indebtedness orindebted-
ness, hoWever evidenced, whether by said promissory note ot any renew~al or extension thereof or substitute there-
for, or otherw~se. until all such indebtedness shall have been fully paid.
7_ /n the e~•ent [he mortRaRo?s se!!, convey or hansJer ~he morlRaged premises during the lije oJ this mort-
KaRe, then th?~ mortgage shQll, at the option oj t/~e 3lortgagee herein, become immediately due and pa~~able fo~ the
Jull sum oj the prrnctpal balarrce and trtte~est then due.
8. The terms "~lortgagor" and ";11ortgagee" W~henever used in this instrument shall include the heits,
personal representatives, successors•and ass~gns of the respective parties hereto. N`herever used the singular
number shall include the plural and the plural the singular, and the use of any gender shall include all genders.
Sig d, sealed nd d • red the presence of: ~
~ ~ 'N-~"~~~~(Seal)
~ ' /
~
? (Seal)
~ -rc ~~7 ~ .C ~ ~ ,
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STATE OF FLORIDA I
COUNTY OFY~L ~ 's
ST. LUCIE
Before me persortally appeared ARTHUR T. JOHNSON and ELSIi _TOHNSON, his wife~
to me well known and known to me io be ihe individuals described in and who executed the foregoing insttument,
and acknowledged before me tha~ the_r• executed the same for the purposes therein expressed. WITNESS my hand
and official seal in the County and State last afotesaid this 19th Day Of Atlgtl3t ~ 1972
~1~~ Commiss~on F:tip~«s: June 30 1975 Notary Public, St r a~~ art~e
BOOK PACE ~c, 8~
~~°~~~w~ ~ _r ~ ~ y_ ~
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