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HomeMy WebLinkAbout0536 Our file 5-25, 205 th~s mal~s~e or othe~ tunsler of hUe to ~he mort~sged property ~n taUn~wshment of the mdebteJness se.wrd hercby, aU n`ht, t~Ue aed interest o( the Mat~a~or in and to any inswanre polic~es ihee in force shail pa~s to thc purchase~ or 6rantee. (h) To per(am. comply with a~d ab~de by each and every the st~pulations, a~roements, cond~uwns and co~•enan~s ~n ~aid prom~ssory note and in this deed se~ forth. (i ) 7'hat it any o( s~id sums o( muney here~o ~eferred to be not prompUy and fui~y pa~d ~•~tAm f~itrrn day. ne~~ aiter the same seyerally ~ecomes due and psyab~e,or if each and evetY ~e slipulatwns, a6~eeme~ts, cond~t~ons and covenants of sa~d p~um~s- sory note and tAis deed, w tither, are not (ully performed. caeplied ~rith and abided by, the +a~d agsreRa~a sum monuoned ~n sa~4 proeaissay ~ote shall betoae due and payable fortl~~ith w the~eafter at the option ot the Afort`a~ee as fully and completely a~ ~f ~hr s~id assresate aum o( said promicsory note ras on~~nally st~pulated tu be paid on such day, anything m said prom~ssory no?e or here~n to the contruy natvrithstandin`. V 1 That ~n order to accele~~te the matun~y of the indebtedness hereby secwed, because ot tht failure ot the !ltort~asor to pay any ~•rx, assessment. tisbility, oblisation M encumbrance upon ssid p[operty, as herein provided, it shall not be oecescary or requisite that thc mortaa~ee shall first pay the same. , 2. The Mottgagee may. at his option, and without waiving his right to accelerate the indebtedness hereb~~ secured and to foreclose the same, pay either before or after delinquency any or all of those certain obligations required by the terms hereof to be paid by the Mottgagor far the protection of the mortgage security or for the col- lection of the indebtedness hereby secured. All sums so advanced or paid by the hfortgagee shall be charged into the mortgage account and become an integral part thereof, subject in all respects to the terms, conditions. and cov~nants of the aforesaid promissory note. and this mortgage, as fully and to the samt extent as though a part = of the original iedebtedness evidenced by said note and secured by this mortgage, excepting however, that said sums shail be repaid the ~lortgagee forthwith upon its demand and be in addition to the regular monthly install- ments provided by the mottgage note. 3. That the abstract ~r absuacts of title covering the mortgaged property shall at all times, during the life of this mortgage, remain in possession of the Mortgagee and in event of the foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby. all right, title and interest of the Nortgagot in and to any such abstracts of title shall pass to the purehaser or grantee. 4. To the extent of the indebtedness of the Mortgagor to the Mortgagee d~scribed herein or secured hereby, ; the lllortgagee is hereby subrogated to the lien or liens and to the rights of the owners and holders thereof of each ~ and every mortgage, lien or other incumbrance on the land described herein which is paid and!or satis[ied, in } whole or in part, out of the proceeds of the loan described herein or secured hereby, and the respective liens of ~ said martgages, liens or other incumbra~ces, shall be and the same and each of them hereby is preserved and shall pass to and be held by the Mortgagee herein as security for the indebtedness to the 111ortgagee herein described or hereby secuted, to the same extent that it would have been preserved and would have baen passed to and been held by the Atortgagee had it been duly and regularly a~signed, transferred, 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 of the parties hereto that the same will be satisfied and cancelled of 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 thereof, becomes vested in a petson other than the Mortgagor, the Nortgagee may, w~thout notice to the ;1lortgagor. deal with such successor or suc- cessors in interest with reftrence to this deed and the debt hereby secured, in the same manner as with the ~tor~- gagor without in any way vitiating or discharging the Mortgagor's liability hereunder or upon the debt hereb~ secured. No salo of the premises hereby mortgaged and no forbearance on the part of the R1ortgagee. and no ex- tension of the time for the payment of the debt 6ertby secured given by the Mortgagee shall operate to release, discharge, modify. change or aCfect the original 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 ar 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 se1l, convey or transjer the mor~gaged premises during the lije oj this mo?t- gage, then rhis niorrgage shaU, at !he option oj the Afortgagee herein, become immediately due and payable fo~ the Jull sum oj ~he princrpa! balance and inte~est then due. 8. The terms "Mortgagor" and "Nottgagee" whenev~r used in this insttument shall include the heirs, personal representatives, successors and assigns of the respective parties hereto. Wherever used the singular :.::~5e: s~s!! e.^.~:;~~ th- F!s~2! sr.d !he F!!~t2! !he sir~~la~a~±~1 the uce oP any aender shall include all Renders. ~ ~ ~ ~ Si ed~ sealed d i red the presence of: ea!) (Seal) • f STATE OF FLOR(DA I ~ COUNTY OF ~ ~ ss i ST. LUCIE I Before me personally appeared ANNIE L. GALLOWAY, an unmarried WOm8II~ - ' to me well known and known to me to be the individuals described in and who executed the foregoing instrument, and acknowledged before me that they executed the same for the purposes therein expressed. WITNESS my hand and official seal in the County and State last aforesaid this 26th Day Of AugUSt ~ 1972 , ; ~1y Commission Expires: Jut1e 30, 1975 Notary Public, State of Florida ~ ~ aE~~~pEO ~ " d ~ f11.E0c,E ~OUwj AS~A- t . ~ ST ~O~E~ PQttR ' ~1.fR YER f E,~ Co1fRT • r RECCRD ~ 2 00 ~~'~Z ~ S~J ~ o R ~ 32 ~ , eocK ~ ~Jj~J 2~~76 ~ - _ ~ ; ~rc.i . ~ ~~~`3..'`~ .