HomeMy WebLinkAbout0570 File 5-28,434
tAi. m~~rtKaKr ,•r ~~tAr~ !van.~ri ~~t ~~tlr tnr mottKagrd ~xupc~t~ ~n c~unKu~.Rmeni ol th.• ~nSrbltJnr~~ ne.u~rd hc~t~>. e~l nkht. ti~le
and ~nterc•t ut thr \i.•rrK~gor ~n en4 tu ~r.~ inwiancr pul~~~e~ then in lurce shaU p~~~ tn ~Ar put~he~r~ ur g~,,n«e.
(h? Tu ~.•ri~.~m. .~~mri, +~th ~nd ~b~dr by' eacA ~nJ ~very the ~upulaLun~. agrcements, condi~~~.n. ~nd ~u~cn~nt. en ~~~1 p~.,m~.~~~ry
nute rnd ~n Ih:. drrJ .r~ turth.
1 Th~t if any .d .a~d wm. ul rm~nr~ hrre~n ~t(e~trd !v iu nut pn~mpth ~nd (uil~ pa~d ri~A~n f~f~ern days nev sttt~
the +ame .eceially br.ome~ Jue and pa)ahfe.or ~f e~aA end ea~er~ the .t~pulat~oes, aR+rcmtn~., .~~nd~Uon. •nd cu~enants ~I ~a~d prwn~s.
s~xy nolt and th~~ drrd, ar r~thcr, arc nut fully p~r(nrmrd, c~~mpl~ed w~tA rnd ab~ded A~, th~ .rid aggrcgatr ~um me~uontd in c~~d
~om~ssiKy m~~e shall bec~xne dur and po~ablc txthr~tA w tAc~eattet aY tAc opt~on ot the ~1~~rtKagre a~ (u1tY ~rtd comp?rteh' et ~hr
~aid agyeRete sum ot said p~..mi~..~n' notc raa .~ng~nally .npulated to 6e pe~d on sucA Jr>. ~nythmg ~n .a~d ptom~s.oty nM~ ut here~n
t.. the .onuar~ n~~~~~th~tend~nE.
~~1 The+ m ordci iu rrceleratr the matur~t~ af ihe ~ndcbtcdne+t herehy .r~u~cd, necause ul ~~r ie~lurc uf ch~ \1u~tgego~ pay an) taR,
as~e.,ment, I~aA~l~t~, obl~gauun nr rn.umbrance upun si~d propetly, as hcrr~n pruv~dcd, chrll not be neie~~.~ry w rcqu~s~tt t~a~ th~
m.xtRaget .rhall (v.~ pry the +ame.
The \tortgagee ma~~, at his ~~pUon, and without K~a~v~ng his tight to accelerate the i~debtedness heteby
s~rured anJ tu foreclusz the ~ame, pa>~ eilher before or after delinqu~ncy asy or all of those cettain obligations
requ~red by th~ terms hereof t~~ be paid by the ~lortgag~~r for the protection of the r~x~rtgage secutity or for the col-
lectian ~•f th~ ~ndebtedness hereb~• szcured. All sums so advanced or pa~d bp thr \lortgagee shall be chatged inta
the m~~rtgagr account anJ beccime an integcal part thereof, subjrct in all respects to the tecros, conditions, and
cuvenants ~~C thr aforesaid prom~ssory nnle, and this mortgage, as fully and to the same extent as though a part .
uf the original indebtedness evidenced by said nate and secured by this mortgage, excepting however, that said
sums shall be repa~d the ~1~~rtgagee forthwith upon its demand and be in addition to the regular monthly instalt-
ments prov~ded by the mortgage note.
3. That the abstract ur abstracts of title covering the murtgaged property shall at all times, d~r~ng the life
uC this murtg~ge, remain in possess~on of the !1lortgagee and in event of the foreclosure of this mortgage or other
transfer of aitle tu the mortgaged property in exlinguishment of the i~debtedness secured hereby, all right, utle
and ~nterest of the ~1.~rtgagor in and ta any such abstracts of title shall pass to the purchase~ or grantee.
4. To the extent of the indebtedness of the 1Aartgagor to the ~lortgagee described herein or secured hereby,
the ~lortgagee is hrreby subrogated ro the lien or I~ens and to the nghts af the owners and holders thereof of each
and every mortgage, Gen or other incumbrance on the land descr~bed herein which ~s paid and.'or satisfied. in
whote or ~n part, out of the proceeds of the loan described hcrein or secured her~by. and the respective liens of
sa~d mnrtgages. liens or other incumbrances, shall be and the same and each of them heteb~ is ptesetved and shall
pa~s to and be held by the ~lortgagee here~n a~ security for the indebtedness to the tilortgagee herein desctibed
or hereby secured, t~~ the same e~tent that it v?ould have been preserved and v?•ould have been passed to and been
held by the ~lortgagee had it been duly and reguiarly assigned, transferred. set over, and deliveted unto the ;1lort-
gagee b~• separate deed of assignment, notw~~thstanding the fact that the same may be satist'ied and cancelled of
record, ~t being thr intenu~m o1' ~he part~es hereto that the same will be satisfied and cancelled af record by the
holders thereof at ~~r about the ume af the recnrding of this mortgage_
5. In the event the ow•nersh~p of the mortgaged premises, ot any part thereof, becomes vested in a person
other tha~ the \lortgagor, the \lortgagee may, without notice t~ the Mortgagor, deai with such successor or suc-
cessors in ~nterest ~ith reference to this deed and the deht hereb~~ secured, ~n the same manner as with the ~tort-
gagor Kithout in any~ way v~i~ating or d~scharging the ~lortgagor's liability hereunder or upon the debt htTeby
secured. No sale ~~f the premisex hereby mortgaged and no forbearance on the part of the \lortgagee, and no ex-
tensi~m of the t~me (or the payment of the debt heteby sccured given by the ~lottgagee shall operate to refease,
discharge, mod~fy, change or affect the orig~~al liability of the !Nortgagor herein either in whote ar i~ part.
G 6. The lien of this deed secures and shall continue to secure payment of said indebtedness ot indebted-
ness, however ev~denced, whether by said prumissory note or any renewal or eztens~on thereof or substitute there-
for, or otherw~se, until all such indebtedness shall have been fully paid.
7. ?n ~hc e~~ent the mortgaRo?s sell, com~ey or transfer the mor~gaged premises during tiee liJe oJ this mort-
QaRe, then th~s morrRaRe shall, at rhe optiorr oJ :he :ttortRagee here~n, 6ecome insmediately due ared payable Jor the
ju!! sum oj ti?e pnncipa! balance and interest thPn due.
8. The terms "tMrtgagor" and "!~lorigagee" whenever used in thi~ instrument shall include the heirs,
persona! representatives, successors and assigns of the respective parties hereto. Wherever used the singular
number shall ~nclude the plural and the plural the singular, and the use of any gendet shall include all genders.
;
S~gn~ sealed d ~ve the presence of: •jLtl-t/C~'''i~r --E ~YSeall
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' lSeal)
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~ STATE OF FLORIDA I -
COL'NTY nF~4K ~
ST. LUCIE
Before me personally appeared THURMOND LEE FELTON~ an unmarri~d m8n~
to me w~ell known and knov?~n to me to be the individuals described in and who executed the foregoing instrument,
; and acknowiedged before me that they executed the same for the purposes there~n eapressed. WITNESS my hand
! and ofi~c~al seal in the Counn and State last aforesaid this 18th Day Of ~CtO , 973 ~
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~1y Comm~ssion Exp~res: _ Jut~e 30 , 1975 Notary Publ c, State of F1 rida _
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