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Home My WebLink About2107 ~ Ouc Eila 5-27,140 th~. mw~~aKe .w ..iAr~ uan.ic~ o~ ~uie w the mor~rs~ed proper~y ~n eatm~u~sheneM W ~he ~ndebtedness setwed he~eby, a1! r~sA~, t~tle anJ ~n~e~est Ihr ~1ur~s~sw ~n and to anY ~nswanre polic~e~ ~Aen ~n torce ah~ll pass to the purchaae~ or ~ranlee. (A) Tu pnhrm, .anpl~ Wnh and •b~de by eacA and every the shpulat~ons, s~rcemeots, cond~t~ons snd covenae~s in said prwe~ssay nott and in ~h~. derd .c~ fortA. 1 That ~f any of ~a~d sumc ol muntY here~n ~eferred Io be not prompt!Y and tu~lY pa~d ~~~th~n f~fteen days neat a(~er Ihe same sevcrally becomes due and paya~te,or it eacA and ere~y ehe seepulations, a~reemtols, cond~lions ~nd covenan~s ot s~~d pros~a. say no~e a~d th~a deed, or e~ther, •re not (ully perfora~ed, co+nplied W~th and a~ided by, the .a~d sure~a~e sum menuoned ?n ssid pranissaY note shall Secomt duc arW payable (orthr~tA or ~Aereafter at the option a( the Mo~~~a~ee as fuily and compietely as ~f tAe s~id a{~re~ate sum o( sa~d pramiccwy note ~ras Mis~nslly slipulated to be pa~d on sucA d~y, anyM~o~ ~n said promiasay oote or here~n to the contr~~y nat~ithstandmE. ) That ~n order to accele~ate tAe matunty of the indeptedness hereby secwed, ~ecause of the failure o( ~Ae Mo~t~a~or ta pay any taa, assecsment, liab~lity, obG~at(on M rncumbaaece upan sa~d pmperty, ss herein providoa, e~ sha!! not be neces~stq a requisi~t th~t the mnrtasjer shsll fust pay tAe saiee. 2. The !~tortgagee may, at his option. and without waiving his right to accelerate the indebtedr?ess hereby secured a~d t~~ [oreclose the same, pay either before ot a~ter delinquency any or ail of those certain obligations required by thr terms hereof to be paid by Ihe Nortgagor for the protection of th~ mc~rtga~e secutity or for the coi- lection of tha indebtedness he~eby secured. All sums so advanced or pa~d by the Mortgagee shall be charged into the mortgage account and became an integral part thereof. subject in all respects to the terms. conditions. and covenants of the aforesaid promissory note. and this mortgage, as fully and to the same extent as though a parl af 1he original indebtedness evidenced by said note and secured by this mortgage, excepting howevet, that said sums shall be repaid the Mortgagee forthwith upon its demand and be in addition to the rcgular monthly install- ~ ments provided by the mortgage note. That the abst~act or abstracts of titie coveriag the mortgaged propetty shall at al! times, duting the life of this mortgage, remain in possessior~ of the Alortgagee and in event of the foreclosure oi this mortgage or other transfer of title to the mortgaged praperty in extinguishment of the indebtedness secuted hereby, all right. title and interest of the ~lurtgagor i~ and to any such abstcacts of title shall pass to the purehaser or grantee. 4. To tho extent of the indebtedness of the Mortgagor to the Mortgagee described hetein or secured hereby, the Alortgagee is hereby subrogated to the lien or (iens and to the rights of the owners artd holdera thereof of each and every moctgage, lien or other iacumbrance on the la~d described herein which is paid ~nd!or satisfied. in whole or-in part, out of the proceeds of the loan described herein or secured hereby, and the respective liens of said mortgages, liens ar other incumbrances, shall be and the sams and each of them heteby is preserved and shall ; pass to and be hetd by the Mortgagee herein as security for the indebtedness to the Mortgagee herein described or hereby secured, to the same extent that it would have been prescrved and would have been passed to and been held by the !1lortgagee had it been duly and regulatiy assigned, 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 rccord, it being the ~ntention of the parties heroto that the same will be satis[ied and cancelled of record by the holders thereof at or about the time of the recording o~ this mottgage. 5. In ,the event the ownership of the mortgaged pretnises. or any part thereof, becomes vested in a person ~ other than the ~k?rtgagor, the \tortgagee may. without notice to the Mortgagor, deal with such successor or suc- ? cessors in interest w~ith ~eference to this deed and the debi her~by secured. in the same mannet as with the Mort- ~ gagor without in any way vitiating or discharging the ;~lortgagor's -liability hereunder or upon the debt hereby ~ secured. No sale of the premises hereby mortgaged and no forbeatance on the part of the Mortgagee. and no ex- tension of the time for the payment of the debt hereby sccured 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 iien u( this deed secures and shall continue to secure payment ot said indebtedness or iedebted- 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. In the event the mor~Ragors sell, convey or transfer the n~ortgaged premises during the IiJe o/ this mort- ~ nage, fhen this mortgage shall, at the option oj the Afo~tgagee herein, 6ecome inunediately due and payable jor the i jull sum oj the principa! balance and interest then due. E 8. The terms "Mortgagor" and "Mottgagee" whenever used in this instrument shall• include the heirs, ~ pasonal representatives, successors and assigns of the respective pacties hereto. VYherever used the singulat ~ , number shall include the plural and the plural the singular, and the use of any gender shall include atl genders. ' ~ S; ed. seal n eli red ~ the presence of: (Seaq ` ; (SeaU f i ~ ~ STATE OF FLORIDA I t COUNTY OF ~ ~ 'S ~ ; ST. LUCIE ~ ; Beiore me personally appeartdWALLACE I. OSTEEN and ETHEL 4STEEN, h18 wife, ° i to me well known and known to me to be the individuals described in and who executed th~ foregoing insttument, ; and acknowledged before me that they eaecuted the same tor the purposes therein expressed. WITNESS my hand ; and afficial sea! in the County and State last aforesaid this 12th Day pf MS~t~ 1973 i - ; ~~~,,..u~ - { i ~ . ~ . . . ` ~ ~1y Commission Expires: June 30 ~ 1975 Notary Public, State of Florid ~ ~ S ~ ~ ~l ~ ~ ~ • J- - ~ i ~ v~ r. ~ , . _ ~ r,~~ ~ •~u~~~~•' i~ • ; / ~r/~r.~..... . I ',I I , f Eoa~214 ~~~210fi ~ ~ ~ ~ 4~ ~ i~~. - _ ~ v, _:4~ , ~ ~ . ~~~"~~E -