The URL can be used to link to this page

Home My WebLink About2890 Our file 5-25,651 in~. m~~:~~eKr ~u o~hcr aansiei of u~le ~o ~he mo~t~ased property m ewo~u~shmenr o( the ~ndebtedness secured Aereb>, •11 n~At, t~Ue and ~niere:~ ~~i ~Ae \to~tp~ur m rnd to sny ~nsunnce pohc~es then ~n (orcc shall pass to ~he purchiser or ~rantee. 11+~ To prr~~wm, c~wnply ~ruA and ab~~1e by eacA and every the st~pulauons, a~reements, coed~twns and covenan~s in s~~d prom~c~ory note and ~n ~h~. derd se~ forth. 1~ ~ Tha~ ~ny ot raid sums ot mone) here~n re(rned to be not promp~l>' and (ully pa~d ~•~th~n f~(teen days ne~t after the seme .c~erally becomes due and paYa~le,or each and erery tht shpulahons, aRreementc, cnnd~l~oac and tovenan~c of sa~d ptom~s- sun• note and th~s deed, or euhe~, are not fuily per(ormed, compl~ed ~•uh and abided by, the sa~d aureaa~e sum mcnui+ned ~n s~~d pr,.misc«~ no~e shall become due anJ pa~able texthr~tA or therea(ur at tAe op~~on o[ tAe \1ort~a{ee as (ully aed comple~ely as ~f tAe .a~d •RSreRate sum of sa~d prom~c~o~)' nnte Wac on`inally supulated to bt pa~d on such day, anyth~n~ m sa~d ptom~ssory note ot hete~n t~~ ~he :oMr~r) not~~~hs~and~nE. ? Th~~ ~n ~•rder to accelerate iAe mawmy ot the ~nJe~tedness hereby secwed, because o( the ta~lure ot the Nort`a~u~ w pay any ~aa, ,~c,e„ment, IiaMhty, obl~Eahoo M encumbrance up.x~ sa~d prnperty, as herem prov~ded, ~t shall not be necesc~ry a reQws~te that ~he mo:eR;,~ee .hal! f~r.t ~y the same. The ~lortgagee may, at his option, and without waiving his right to accelerate the indebtedness hereby .ecured and to foreclose the same, pay either before or a[ter delinquency any or all of those certain obligations required by the terms hereaf to be paid by the Mortgagor far the protection of the me+rtgage securi~y or for the col- Ir~t:un ~~f the indebtedness hereb>• secured. All sums so advanced ot paid by the !~lortgagee shall be charged into the m~~rtgage account and become an integral patt thereof. subject in all respects to the tetms, conditions, and cuvenants of the aforesaid promissory note, and this mortgage, as fully and to the same extent as though a part ~~f the orig~nal indebtedness evidenced by said note and secured by this mortgage, excepting howevet, that said ~um~ .hall be repa~d the !.~lortgagee fotthwith upon its demand and be in addition to the regular monthly install- ~nents provided by the mortgage note. That the abstract or abstracts ot title covering the mortgaged property shall at all times. during the life uf ~h~. rm~rtgage, rema~n in possession of the !1lortgagee and in event of the foreclosure of this mortgage or other tran.fer of titie to the mortgaged property in extinguishment of the indebtedness secured hereby. all right. title and mterest of the ~lottgagor in and to any such absttacts of title shali pass to the putchaser or grantee. 3. To the extent of the ~ndebtedness of the Mortgagor to the Mortgagee desctibed herein or secured hereby, the \lortgagee 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''oc satis[ied, in wholr or ~n part, out ot the proceeds of the loan described herein or secured hereby. and the respective liens of sa~d mortgages. liens or other ~ncumbrances, shall be and the same and each ot them hereby is preserved and shall pass tu and he held by the ~lortgagee herein as security for the indebtedness to tha Mortgagee herein described or herebv ~ecured, to the same extent that it would have been preserved and would have been passed to and been hzld by the ~i~~rtgagee had it been duly and regularly assigned, transferred, set over. and delivered 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 mtention of the parties hereto that the same will be satisfied and cancelled of record by the hvlders thereof at or about the time of the recording of this mort6age. 5. In the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person ~~ther than the \k~rigagor, the \lortgagee may, without notice to the Mortgagor. deal with such successor or suc- cessors in int~rest ~ith reference to this deed and the debt hereby secured, in th~ same manner as with the !11ott- gagor K~thout in an~ way vitiating ot discharging the Mortgagor's liability hereundet or upon the debt hereby secured. Vo sale of the premises hereby mortgaged and no [orbearance on the part of the Mortgagee~ and no ex- , ten~~un of the time for the pa~ment of the debt hereby secured given by the Mortgagee shall operate to release, discharge, mc~dify, change or affect the original liability o[ the Mottgagor 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 e~idenced, whether by said promissoty note ot any renewal or extension thereof or substitute there- for, or otherw~se, until all such indebtedness shatl have been fully paid. ~ 7. In tlre e~•ent rhe mortAaRors sel1, convey o. transJer the mortgaged pre~nises du?ing the life oj this mort- ~ kaQe. then ~h?s morrgage shQ11, at the option oj the lNortgagee herein, 6ecorr.e immediotely due and payable Jor the ~ Jul! sum oj the pnncipal balance and interest then due. ~ 8. The terms "Mortgagor" and ";~tortgagee" whenever used in thes instrument shall include the heirs, perconal representatives, successors and assigns o[ the respect~ parties heteto. Wherever used the singular number shall ~nclude the plural and the plural the singular, an e e of any ender shall inclode all gen ers ~ . Sign seale n livere n the prese ~ ~ (Seal) ~ ~ t ( _ (Sea1) {.tcrG1 ? ~ t- y/L~-- - STATE OF FLORIDA I COUNTY OFD~ ~ ~S ST. LUCIE Be(orc me personally appeared ROY LEE MCGRIFF and JANICE A. MCGRIFF, his wife, E;:, to me well known and known to me to be the individuals describad in and who executed the foregoin6 instrumeqi. ~ and acknowledged before me that they executed the same for the purposes therein expressed. WITNESS my h3nd ~ and official seal in the County and State last aforesaid this 28th Day Of OC ober, 1972 " • ~ . ~''i~ _ _ ~ , June 30 1975 ~ ~ o" ~1y Commission Expires: ~ Notary Public, Stat rida ~ F- - `.[Qp~ ~ • ~ aE~oa~EO fl~`UC f `A 1 IE C01lMRAS aT St~ ROGEr. ~ ~ ~t ~~p CLEar ~e~F Efl ~FCOP~ V- N~-~~ ~ ~ 6 3 46~ R Z41416 eoo~~7 w~c~~~ S s, x,.. '"4:~% . _ . .