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Home My WebLink About0138 File 5~8,598 tR~~ mot~~tr~r ~a oiAr~ 1ran~(r~ ut htir to thr mortra~trd ptopcr~) ~n c~UnYui~hment ul tAe inJeAteJne+~ ~ecurrd hereAy, all nsh~, t~tle ~nJ ~n~ere.t ut ~he t1u~~~arw m~nd tu an~' inswance pul~c~es ~hen ~n (orct shall pa~s lo the purch~acr or ~rsntee. IA1 Tu pttl~um, a.rnply ~r~ih and aD~de by each pnd eve~y tAe ahpul~u.x~s, a~rcemeots, condiuun. and covenan~s ~n ~~~d prumnsorY note and in ih~. dc~J .et forth. ~ . 1~ 1 That d anY ul .a~d sum~ ul muoey hrre~n ~e(rr~rd tu be nW ptomp~lY rm1 (ully pa~d ~uh~n Idteen days nea~ a(~er the same sevcrally Ncaomes due and paYah~e,ix eacA and evety the st~pufat~uns, a~teemrnl~, cond~Uuns and cnrenants o( sa~d p~om~s- swy note and tAu deed, ur euhe~, are not tuliy perfo~med, coa~plied ~ruA and ab~ded by, ~he .~~d ~~~trcta~e sum menuoncd m said pan~saor~ notc shall becaene Jut and ~+aY~Ale (or~hr~th ix ~herea(tet at tAe ophon of the ~tu~t~a~et as (ully ~nd completely as d the sa~d a~~repte sum ol sa~d pram~~.ory no~e ~rss an~~nally st~pulated to se pa~d m such daY. snytAmR ~n sa~d prom~ssory note ot hcre~n to ~he conuary notvr~ihs~andy~E. 1 That m o~der to rccelerate the m~tun~y o( tht mdebieJness herchy secuced, because o( thc 1a~lu~e o( the .lloit`a~or ~u pay any ca?, as.e~smenl, I~aA~l~t~, +~bl~~at~on .~r rncumhrance upon sa~d p~ope~lY. as he~em provided, u sha11 not be ne.e~.ary or reqwsuc that the mixtaaRee shall f~r.~ pay tAe samt. 2. The \lattgagee may, at his option, and without w~a~ving his tight to accelcrate the indebtedness heteby sccured and tu [oreclase the same, pay either before or a~ter delinquency any ar all af those ce~tain obligations required by the terms hercof to be paid by the \lartgagor for the protectio~ o~ the inortgage security or for the col- lecti~~n of the indebtedne~s hereby secured. All sums so advanceJ or paid by the Nortgagee shall be chacged into the mortgag~ account anJ become an integral part thereof, subject in all cespects to the terms, co~ditio~s, and cuvenants of the aforesa~d pr~~missory nole~ and this mortgage, as fully and to the same extent as though a part of the original indebtedness evidenced by said note and secured by this mottgage, ezcepting howevet, that said cumc sliall be repa~d the Alartaagee forthwith upon its demand and be in addition_to the regular monthly install- ments provided by the mortgage note. 3. That the abstract or abstracts of title covering the nwrtgaged ptoperty shall at all timcs, duting the life of this mortgage, remain in possess~on o[ the ~lortgagee and in event of the foreclosure of this mortgage or other transfer of ti~le to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title and intere~t af the Vurtgagor in and t~ any such abstracts of title shall pass to the purchaser or grantee. 4. To the extent of the ~ndebtedness of the Mortgagor to the ~lortgagee described herein or secured hereby, the '~lortgagee is herzb~• 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.'or satis[ied. in whole or in part, out of the proceeds of the loan described herein or secured hereby. and the respective liens of said mortgages, tiens or other ~ncumbrances, shall be and the same and each of them hereby is preserved and shall pass to anJ be held by the ~lortgagee herein as security for the indebtedness to the l~ortgagee herein desctibed or hereby s~curtd, to the same extent that it v?•ould have been pteserved and would have boen passed to and been hetd by the \lortgagee had it been duly and regularly assigned, transfened, 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 recotd by the holders thereof at or about the t~me of the recording of this mottgage_ S. In the event the ow~nership of the mottgaged premises, or any part thereof, becomes vested in a person other than the ~k~rtgagor, the ~lortgagee may, without notice to the Mortgagor, deal with such successor or suc- ~ cessors in interest Nith reference to this deed and the debt hereby secured, in the same manner as with the !11ort- gagor K•ithout in an~~ way v~tiating or discharging the Mortgagor's liability hereunder or upon the debt hereby secured. No sale af the premises hereby moctgaged and no fotbeatance on the part of the Mortgagee. and no ex- ; tension of the time for the payment of tht debt hereby secured given by the !Nortgagee shall operate to release. 'j discharge, modify, change or a(fect the original liability of the Rlortgagor hetein either in whole or in patt. ~ 6. The Gen of this deed secures and shall continue to secute payment of said indebtedness ot indebted- ness, however evidenced, whether by said ptumissoty note or any renewal or extension thereo[ or substitute there- ` Cot, ur otherwise, until all such indebtedness shall have been fully paid. , ~ 7. !n the e~•cnt the mortgagors sell, convey or eransJe~ fhe rnortgaged premises during the lije oj this mort- € qaRe, then this mortgoAe shall, at Ihe option oJ the Alortgagee herein, 6ecome immediatety clue and payabie fo? ~he ~ full sum oJ thr p~~acipel balance and interest then due. ~ ~ 8. The terms "Mortgagor" and "!4lortgagee" whenever used in thic instrument shall include the heirs, t personal representative's, successors and assigns of the respective parties hereto. Whetever used the singular ' number shall include the plural and the plural the singular, and the use of any gendet shall include all genders. s ~ S~ ed, sealed ~ er ~n presence of: (Seal) ~ ~ ~ ~ (Seal) ~ ~~y~j ~ ~ ~sC~i' .%1/ '-~"/'=;,lr_,.j~_y, i.. a 6 ~ STATE OF FLORIDA I ~ COUNTY OF ~ ~ ss ~ ST. LUCIE ~ Be(ore me personaliy appeared BOBBY LEE BAILEY aad MARY ALICE, BAILEY~ his wife~ a to me vvell known and known to me to be the individuals described in and who executed the foregoing insttument, = and acknowledged before me that they executed the same for the purposes therein expressed. WITNESS my hand x; and official seal in the County and State last afotesaid this lOth Day of November, 1973 • ~ ~tH~Rr,,,~~ . ` ~ - ~'i• - `1y Commission Fxp~res: June 30, 1975 Notarf Public, State of Florida.~t~~:~ @~~'' • ~ _ : ~ - ~ fIIED REC~~ _ - 3 ~~'iEp ?Q sll~f t~ : _ ~ ' ` = i. i :t~ tiOGE . ' ~ C~~R VE?a{ EO ~OI?R~ . , ~1. . , . - . = R~CQRD . ~ ~ ~ I~~~~~~~~~~~~•'•y; A,~ i9 3 ~3 ~ : i~lu~ . . ~ 2~~6 ~ ~ k oa~~ 138 . ~ a~~~~~~ - . _ - ,