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HomeMy WebLinkAbout0863 - File 5-28,639 th~c mur~Ra~te w otAr~ t~ans(ri id u~le ~ht mortrared poper~y in c~unrui~~mem w ~he ~ndehteJnesa ~eawrd he~eny, all n~h~, utle rnd ~nurrst of ~he \la~~~stw m and to any ~nswanae pol~c~es thee ~o twce ahali paas to ~he purchase~ or ~~an~ee. lhl To prrlam. .uenplY ~•~th •nd ab~de by eacA and evetY the ~t~pulat~ons. a~teements, cond~hon~ anA co~•enant. in sa~d prum~ssory nole anJ ~n ~h~. derd .e~ (orth. ) Tha~ anY of sa~d sum. ut money herem re(e~trd to be nol prwnpUy arW tully pa~d r?~~h~o h(teen days nei~ a(~a ~he samt severafiy brcomes Jur and paYable,or ~t eacA and ere~y the supulauons, a~teements, ~ond~hons and covenams of sa~d qaa~s- sdy note and ~A~a dted, ur e~ther, ue not (ully perto~n+ed, c~xaDl~ed ~r~tA and ab~ded ~y, ~ht ~~~d a{~re~a~e swa nsenuoned m sa~d pran~ssay note sAall becaee due and paY+~ble fatAr~tA ~x thereatter a~ the o{+hc+n o( the Mo~t~a~ee as fully and compleuly,as 1f tAe sa~d a~~re~~te sum o( sa~d pram~ss~xf note ~as on~~ns11Y supulated to be p~~d m sucA daY. anyth~n~ m said prom~ssorY no~e or here~n ~a ~he contra~y nut~~~hsland~nE. 1 Tha~ in ader to accele~a~e the mawnty o! the indebtcdness hereby secured, because uf the fa~lure o( the \1wt~a~ur to pay any ~aR, •sse~sment, lub~l~~~, obl~sauo~ ~w rncumbr~nce u{+m sa~d prnperty, as here~a prov~de~1, shail not be ne.ec.ary or ~eQu~sne tAa~ the mw~ra~te sAall tust pay tht same. 2. The \lottgagee may, at h~s option. and without waiving his right to accelerate the indebtedness hereby aecured and tu foreclose the same, pay either before or a~ter delinquency any or ali of those cettain obligations required by the terms hercof to be paid by the ~lortgagor for the protection of the mc~rtgage security or for the col- lectio~ ~~f the indebtedness hereby secured. All sums so advanced or paid by the Mortgagee shall be charged into thz mortgagr acc~~unt anJ became an integral part thereof, subject in all respects to the tetms, conditions, and ,,uvenants ot thr aforesaid pn~missory notc, a~d this mortgage, as fully and lo the same extent as though a part of the original indebtedness evidenced by said nate and secured by this martgage, excepting however, that said sums shall be repaid the Alortgagee fotthwith upon its demand and be in addition to the regular monthly instail- . ments pravided by the mortgage note. 3. That the absttact or abstracts of title coveting the mortgaged property shall at all times, during the life of this mortgage, remain in possession of the hlortgagee and in event of the foreclosure of this mortgage or other iransfer of title to the mortgaged property in extinguishment o[ the indebtedness secured heteby, all tight, title and intere~t of the ~tortgagor in and to any such abstracts of title shall pass to the purchaser or grantee. 4. To the eatent of the indebtedness of the NMrtgagor to the !1lottgagee described herein or secured hereby, the ~lortgagee is hereby subrogated to the lien or liens and to the rights of the owners a~d holders thereof of each and every mortgage, lien or other incumbrar?ce on the land described herein which is paid and,~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 or other ~ncumbrances, shall be and the same and each of them hereby is preserved and shall pass to and he held by the `lortgagee herein as security for the indebtedness to the hlottgagee herein described or hereby secured, to the same extent that it M•ould have been pteserved and would have been passed to and been held by the ~lortgagee had it been duly and regularly assigned, ttansferred, set over. and delivered unto the Mort- gagee by separate deed of assignment, notwithstanding the fact that the same may be satisfied and cancelled ot record, it be~ng the ~ntention of the parties hereto that the same w~ill bt satis~ied and cancelled of record by the holders thereof at or about the t~me of the recarding of this mottgage. 5. In the e~ent the ownership of the mortgaged premises, or any patt thereuf, becomes vested in a person ' other than the ~kirtgagor, the ~lortgagee may, without notice to the Mortgagor, deal with such successor or suc- cessors in interest K~ith reference to this deed and the debt heteby secured. in the same mann~r as with the 41ort- gagor ~ithaut in am• way vitiating or discharging the Mortgagor's liability hereunder or upon the dcbt hereby I'' secured. No sale of the premises hereby mortgaged and no fotbearance on the part of the hlortgagee. and no ex- j tensian of the time for the payment of the debt hereby secured gnren by the !Nortgagee shall operate to retease, ~ discharge, modify, cha~nge or a[Cect the original liability o! the Mortgagor herein either in whole or in part. b. The lien of this deed secures and shall cantinue to secure payment of said indebtedness orindebted- ~ ness, however evidenced, whether by said promissory note ot any renewal ot extension thereoC or substitute there- ~ for, or othetwise, until all such indebtedness shall have been fully paid. ~ 7. /n Ihe et~ent the mor~gagors sell, convey or transjer the mortgaged prernises during the leJe oJ this rnort- ~ ~aRe, then thrs mortgage shall, at the option o~ the Alo~lgagee herein, 6ecome immedia~ely due and payable Jor the Jul! sum oj ~he principal balance and interest ~hen due. s 8. The terms "Mortgagor" and "~lortgagee" whenever used in thi~ insttument shall include the heirs~ ~ personal 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 gendet shall include all genders. ~ ~ S~gned sealed a e~ re i e presence of: 1- ~ (Seat) ~ f EO AtID RECOAOE (SeaU ~ ~ ~OQEA POtTItAS ~ ~ ~ ~ 3 ~ t . , ~ lU~_= CIEAR CiRCtltt COURT ~ !!EC'~R~ Y~R~FIEO ~ . ~ STATE OF FLORIDA I PN ~'3 693,~• ~ COUNTY OF~~ ~ ~5 ~ ~ ST~eforejmipersonally appeared THURMOND LEE FELTON, an unmarrigd man, to me well known and known to me to be the individuals described in and who executed the foregoing instrument, z3 and acknowledged before me that they cxecuted the same for the purposes there~n expressed. WITNESS my hand ~ and off~cial seal in the County and State last aforesaid this $ttl DSy of Nove 1973 ~ ~ Y ~ ~ . ~ty Commission Expires: June 30, 1975 Notary Public, State of . -r`"`=' v ~ ^ _ ~ r/ , , 1 • - , ' . . o R 22~ PaGE 8~ , - BCOK - . ~ ~ g - ~ _ _ . _ .