HomeMy WebLinkAbout1331 Our ftle 5 26,891
th~. mw~~~are ~K o~her uansfe~ ot utle tu tAe mo~t~s~ed poperty m eYUn~wshaen~ ut ~he ~ndebteJ~ess secwed Aereby, al! nRA~, uqc
anA ~nte~e.t at ~he 11ku~p~w ~n and to ~ny msuranct polic~es ~Ren ~n tace ah~ll pasa to the pwchuer a~nn~te.
(h) Ta pe~(r+rm, .umply w~~A and ab~de by each and every tAe at~pulations, •~reements, cond~~~ona snd covenants ~n sa~d praa~ssory
note and in th~~ deed ae~ fatA.
1 TAat it ~ny of x~~d sums o( nwney here~n refe~~cd to Se not praa0tlY aed tu~~Y Da~d ~nh~n fi(teee days nea~ sf~et
the same severally becanes due snd payable,a ~f escA aed every the st~pul~uons, a~reements, coadiiioas and coven~n~s of ss~d pos~s.
sory no~e and tAis deed, or t~tAer, are not fully perfonaed. comD~~ed W~tA snd ~b~ded by, the ~s~d akre~ate sum iaen~~oned ?n said
pran~ssaY oote shslt become due and payable forth~ritA or lhereatter at tAe option ot the Mwt~s~ee •s fu11Y and eompietely ss ~f the
s~~d a«epte sum of sa~d promissory note ~ras wismally s~ipul~ted ~o Ae psid on s~cA day. anytAm~ ~o s~id p~aaissay notc a herem
to ~he contraty notw~thst~ndinR.
1 That ~o orde~ to atcelerate the matur~ty ot the indepledness hereby aecwed, becauae o! tAe ta~lute ot tAt Mal~a~w ~o pay sny aa,
asseasn?ent, I~abiluy, obl~~ation ix rncumbraece upon sa~d ptoperty, ss herem provided, sAall not be necessary a requ~site tAst tht
mort~a~ee shal! lirs~ pay the same.
2. The tiMrtgagee may, at his option, and without waiving his right to accelerate the indebtedness heteby
secured and to foreclose the same, pay either befote or after delinquency any or all of those certain obliaations
required by the terms hereof to be paid by the ~lortgagor [or the ptotection of the mcxtgage security ot for the col- i
lection af the indebtedness hereby secured. All sums so advanced ot paid by the Mortga6ee shall be char6ed into ~
the mortgage account anJ becamt an integral part thereof. subject in al) respects to the terms. conditions. and ~
covenants of the aforesaid promissory no1e. and this mottgage. as [ully and to the same extent as though a part ~
of the oriainal indebtedness evidenced by said note and secured by this mottgage, escepting howevet. that said
su~ps shall be repaid the Mortgagee forthwith upon its dema~d and be in addition to the regular monthly install-
ments provided by the matgage note.
3. That the abstract or abstracts of title coverinE the mortgaged property shall at al) times, duri~g ihe lite
of this mortgagc, remain in possession of the Mottgagee and in event of the foreclosure o[ this mortgage or other
transfer af title to the mortgaged property in exlinguishment of the indebtedness secured hereby, all riEht, title
and interest Qf the ;~lortgagor in a~d to any such abstracts of title shall pass to the putchaset ot grantee.
- 4. To the exteat of the indcbtedness of the Mortgagor to the Mottgagee described 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 othet incumbra~ce on the Iand described herein which is paid and/or satisfied. in
w~ole or in part, out of the proceeds of the loan described herein or secuted hereby, and the respective liens of ~
said mortgages. liens or other incumbtances, shall be and the same and eac6 of them hereby is presetved and shall ~ ~
pass to and be held by the Mortgagee herein as security for the indabtedness to the Mortgagee hetein described i
or hereby secur~d, to the same extent that it would have been pteserved and would have been passed to and been t
held by the Alortgagee had it been duly and regularly assigned. transfened, set over, and delivered unto the Mort-
gagee by separate deed of assignment, rtotwithstanding 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 satis[ied and cancelled of recotd by the
holders thereof at or about the time of the recording of this mortgage.
S. ln the event the ownership o[ the mortga6ed premises, or any part thereof. becomes vested in a person ~
other than the Rlortgagor, the ~lortgagee may, without notice to the Mortgagor. deat with such successor or suc•
cessors in interest with reterence to this deed and the debt hereby secured, in the same maener as wiih the Mort-
gagor without in any way vitiating or discharging the Mortgagoc's liability hereunder or upon the debt hereby
secured: No sale of the Qremises hereby mortgaged and no forbearance on the patt of the Mortgagee. and no ex-
tension of the time foc the payment of the debt heteby secnred given by the Mortgagee shall operate to telease,
discharge. modi[y, change or affect the original liability of the 4lortga~ot herein either in whole or in part.
6. The lien of this deed secures and shall cantinue to secure payment of said indebtedness or indebted-
ness, however evidenced, whether by said ptomissory note or any renewal or extension thereof or substitute there-
for, or otherwise, until all such indebtedness shall have been fully paid. f
7. In the event the rnortgagors sell, convey or transJe? the mortgaged prernises during the lije oj this n~ort- !
qage, then this mor~g4ge shall, at t6e oplion oj the Afo~~gagee herein, become immediately due and payable for the ;
JuII sum oj the principal bnlance and interest thea due.
~ 8. The terms "Mortgagor" aad "Mortgagee" whonever used in this instrument shall include the heirs,
persona! representatives, successors and assigns of the respective patties 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. '
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Si ned. seale nd li ered in e presence of: ~~2~/~~",` _'PG'i~,c~ (Seai)
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! (Seal)
i 'F-t'tc~.~ t-s-~rLa.-
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~ S7'ATE OF FLORIDA I '
~ COUNTY OF j ss }
ST. L~ ~
; Before me parsonatly appeared MELBA WALLACE, an unmarried wopnan,
to me well known and known to me to be the individuals described in and who executed the~foreaoing irtstrument,
and acknowledged beforc me that they executed the same for the purposes thcrein espressed. WITNESS my hand
~ and ofticeal seal in the County and State last aforesaid this 2].3t Day of April, 1973
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