HomeMy WebLinkAbout1485 File 5-27,541
lh~c morlKaKr ~r ~~ihr~ ~~an.(ei ul ~~Ue tu ~he mortr~~cd ptope~~y ~n eaunswahmen~ ol lhe ~ndel~ledness ~tcweQ Ae~eby, •11 r~~ht, h~lt
rnd inure~~ uf tAe \1ur~sa{o~ m am1 ~o an> ~nswance pul~c~ec ~hcn in (wce shall pu~ lo Ihe purcAaset or ~ranttt,
(hl To pcr~~wm, ..rnply wUh and ah~de by eacA ~nd everY the cupula~~ona, a~reements, condN~ons and covenaMs ~n sa~d prum~ssory
notc and m th~. dced .rt tmth.
1 Tha~ any o( ~a~d sums ul muorY he~e~n ~e(errrd to be ~ul prwaptly and (ully pa~d Muh~n f~/tecn days etxl a(It~
the same seve~aliy brc~unes Juc and payaAle, ur eacA snd every the shpuLuons, asrcem<nts, cund~~iuns and covenanta of s~~d praa~a-
say note and th~s Jced, ur e~ther, are not (uliy pe~(o~med, cu+nplied ~~tA and abided ~y, the .a~d as~~e~ate sum menUOned ~n s~~d
pomissay note shall become due and psyabte fath.~tA iK ~herca(ter at the op~~on ot tAe Morl~asee as fuUy snd comple~ely as the
.~~d attre~ate sum o! ss~d pnxn~s.w~• note was onpnalb• ~hpulated to be pa~d on such drY. ~nytAin~ m sa~d prom~sso~y notc or herem
to ~he con~raty not~~thstandmR.
1 That in arde~ to rccelera~e the mawn~y of the ~ndebtednesc herehy secwed, because ut the failure of the Sfort6a~w to pay any tat,
as~e~sment, I~as~iuy, oDt~rahon ..r .~~iumbrance upon said property, as hcre~n prov~ded, shall nol be neces~ary ar ~tawsue tha~ the
mo~t~a~ee shall fu~t pay ~Ae aame,
2. The \lottgagee may, at his option. and without waiving his right to accelerate the indebtednoss heteby
s~rured and t~~ foreclose the +ame, pay either before or after deli~quency any or ali o[ those ce~tain obtigations
requited by the terms hercof to be paid by the \lortgagot for the ptotection of the mottgage security ot for the col-
lection of the indebtedness hereby secured. All sums so advanced or paid by the Nortgagte shall be chatged into
the mortgage account anJ hecome an integtal part thereo(, subject in all rtspects to the terms, conditions, and
cuvenants of the atoresaid promissory note, and this mortgage, as fully and to the same extent as though a patt
of the ariginal indebtedness evidenced by ~aid note and secured by this mottgage, excepting howevet, that said
sums shall be repa~J the Alortgagee fotthvrith upon its demand and be in additio~ to the rtgulat monthly install-
ments provided by the mortgage note.
3. That the abstract or abstracts of title covering the mortgaged pcoperty shali at all times. during the life
of tl~is m~~rtgage, remain in possession of the \lortgagee and in event of the foreclosure o[ this mortgage or other
iransfer of t~tle to the mortgaged propetty in extinguishment o[ the indebtedness secured tieteby, all right. title
and interest of the ~turtgagar in and to any such abstracts of title shall pass to the purchaser or grantee.
~3. To the extent of the indebtedness of the Mortgagor to the Mortgag~e described herei~ or secured hereby,
the \lortgagee is hereb~ subrogated to the tien or liens and to the rights of the owners and holders thercof of each
aod every nwrtgage, lien or other incumbrance on the land described herein which is paid ar~d!or satisfied. in
whol~ or in part, out of the praceeds of the loan described herein ot secured hereby, and the respective liens of
said mortgages, liens ar other incumbrances, shall be and t1~e same and each of them heteby is preserved and shall
pass Io and be held by' the ~lartgagee herein as s~curity !ot the indebtcdness to the Mortgagee herein describcd
or hereby secured, to the same extent that it vrould have been preserved and would have been passed to and been
heid by the ~tortgagee had it been duly and regularly assigned. transferrod, set over, and delivered unto the Mort-
gagee by separate deed of assignment, notw~ithstanding the fact that th~ same may be satisfied and cancelled of
record, it be~ng the ~ntention of the patties her~to that the same will b~ satisfied and cancelled of recotd by the
holders thereof at or about the time of the tecording of this mottgage.
5. In the event the ow•nership of the mortgaged premises, or any part thereof, becomes vested in a person
other than the ~lortgagor, the ~tortgagee may, without notice to the ;4lortgagor. deal with such successor or suc-
cessors in interest Nith reference to this deed and the debt hereby secuted, in the same manner as with the h1ort-
gagor w~ithout in an~• v?ay vitiating or discharging the Mortgagor's liability hereunder ot upon the debt hereby
secured. No sale of the premises hereby mottgaged and no forbearance on the part of the Mortgagee. and no ex-
tensian of the time for the payment of the debt hereby secured given by the ~lortgagee shalt opecate to retease,
discharge, modify, change or affect the original liability of thc Nortgagor hetein eithtr in whole ot in part.
6. The lien i~f this deed secutes and shall continue to secure payment o[ said indebtedness or indebted-
ness, however evidenced, w•hether by said prumissory note or any renewal or ~xtension thereof or substitute there-
for, or othetwise, until all such indebtedness shall have been fully pai~.
7. In the e~•ent the mortgugors sell. convey or transJer the mortgaged premises du?ing the lije oj this mo~t-
qaRe. then th~s mortRage shall, at ~he oprion oj the 'tlo?tAogee herein, become immediately due oad payable jo~ the
jull sum oj the prirtcipQ! balarrce and interest then due,
8. The terms "Mortgagor" and "Mortgagee" whenever ustd in thic i~st~ument shall include the heirs,
i personal representatives, successors and assigns of the respective patties hereto. Wherever used the singular
number shall include the plura nd the plural the singular, and the use of any gender shall include aIl gendets.
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~ Sig d, sealed d ~v r n t e rese •!l - / !~-t (Sea!)
~
p AMn 4tECORDEO (Seal)
~ ~~J j'}7 ~..~-~c~ S ROG^~;?~I
COURT {
= CLERK ~t .
P.ECO=n YLR-F1=0
; STATE OF FLORIDA I, T 43 ~~~3
~ (
COUNTY OF ~~L 'S
ST LUCIE ~ ~s91s~
~efore me personally appeared j~RY G. BA~D~ an unmarried WOQ4311~
; to me well known and known to me to be the individuals desctibed in and who executed the for~going insuument, ~
, and ac~t~sawledged befote me that they executed the same for the putposes there~n exptessed. WITNESS my hand
and offic~al seal in the Count} and State last aforesaid this 28th Day of June, 1973
; -
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.
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` N~~N~~
£ '~ty C-csmmission Fxp~res: June 30, 1975 Notary Public, State of X~• •
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