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HomeMy WebLinkAbout2113 ~ Our file 5-29,530 ~h~~ rMwl`aKc aw o~Ae~ uan~lc~ ul Ulle lu the mu~irased propc~~Y m e?~in~wshmeat ut tAe ~ndebledet~s cecwed htrcAy. ?11 n~ht, t~lle •nJ ~merc~t at Me 11H•~ttatvr ~n ~nd to any ~nsuratkt pul~c~es then in lact aA~lt paas to ~he pu~ch~ser or ~iantee. (h) Tu peri~xm. uwnplY ~~th and ab~de by eacA snd every tRt at~pulauons. s~reements. cond~t~onc and covenan~~ ~n ~s~~1 p~um~~so~y note amf ~n ~Ms deeJ .e~ Icvth. hf~een dsys ne?~ aQer 1 TAat d any of sa~d sum~ ut muoeY herem ro(errcd to be not pranpUY and (ully Di~d +~~h~n - the samt sevenlly becomes Jue and paYable.or eacA and every lAe s~~pul~Uons. s~reements, cuml~uons and covenanls o! sa~d prom~s. sQy note and th~s deed, a euher, are no~ (ully perfaa?ed, causDl~ed ~ruh ~^d ap~ded by, ~he .aid at~re~a~e sum meeuoned.~e sa~d p~wnusaY note shall become due and DaY~ble fortA.~th or tAe~estur at the opuon of ~Ae Slat~atee as tullY ~~d ~ompietely ss d the sa~d ~~i«<~te sum ot sa~d p~~~c•aY note was or~~~nallY supul~ud to be pa~d on such d~Y. a~Y~~ns ~a sa~d prom~ssory nole or here~e tothe comrary not~~thstand~nE. aue~sme I.~ub~l ty,cobl Satux~AM rncumbrance u,poncsa?d proper~y bas`hertin a~a~a ~ t shsll~no~rbe ne.•es~ay or eQwsue ~hat` Ae md~j~~ee shali f~~ct paY the same. 2. The 1~lortgagee ma~, at his opt+on, and without waiving his t~ght to acceletate the indebtedness heteby secured and to forecluse the ~ame, pay either before or after delinquency any or all of those certain obligations required by the terms hereof to be paid by the ~~ortgagor for the protection of the mortgage security ar for the cal- lection of the indebtedness hereby secured. All sums so advanced or paid by thc ~iortgagee shall be charged into thr mongage account anJ become an ~ntegral part theteaf, subject in all tespects to the terms, conditions, and c~~venants of the aforesaid promissory note, and this mortgage. as fully and 1o the same extent as thou6h a patt ~~t the original indebtedness evidenced by said note and secured by this mortgage. excepting however, that said , sums shall be repaid the Aiortgagee forthwith upon its demand and be in addition to the regulat monthly install- ; ments provided by the mortgage note. 3. That thc abstract or abstracts of title coveri~g the mortgaged property shatl at all times. duri~g the life of this mortgage, remain in ~ssession of the ~lortgagee and in event of the foreclosure o[ this mortgage or Mher i transfer of title to the mortgaged propetty in extinguishment of the indebtedness secured heceby. all tight. titie 3 and interest of the ~lortgagor in and to any such abstracts of title shall pass to the purchaser ot grantee. 4. To the extent of the indebtedness of the Moctgagor Io the !1lottgagee described herein or secured hereby, the 1lortgagee is hereby subrogated to ihe lien or liens and to the rights of the owners and holders thereof of each and every mortgage, lien or other incumbtance on the land described herein which is paid and!ot satis[ied. in whole or in part, aut of the praceeds of the loan desc~ibed herein or secured hereby. and the respective liens of said rnortgages, liens or other incumbranccs, shali be and the same and each of them hereby is preserved and shall pass to and be held by the Alortgagee herein as security for the indebtedness to the Mortgagee herein described or hzreby secured, to the same extent that it would have been preserved and would have been passed to and been heid by the \Mrtgagee had it been duly and regularly 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 oC record, it being the ~ntention of the parties hereto that the same will be satistied and cancelled of record by the hoidets thereof at or about the time of the tecording of this mortgage. 5. In the event the ovvnership of the mortgaged preEnises. or any part thereof. becomes vested in a person ~ other than the !~lortgagor, the ~iortgagee may, without notice to the Mottgasor. deai with such successor or suc- ce ssors in interest w~ith tefetence to this deed and the debt hereby secured, io the same manner as with the tilort- gaEor without in any vvay vitiating or discharging the INortgagoc's liability hereunder or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part o[ the Mortgagee. and no ex- tension of the time for the payment of the debt hereby secuced given by the Mortgagee shall operate to release, : di scharge. modiCy, change or af[ect the original liability of the Mortgagor herein either in whole or in part. ? 6. The lien uf this deed secures and shall continue to secure paymeRt of said indebtedness or indebted- ; ness, however evidenced, whether by said promissory note ot any renewal or extension theceof or substitute thete- t j for, or otherwise, until ali such indebtedness shall have been fully paid. ! 7. ?n the even~ the mortgagors se1l, convey o? transjer the mortgaged premises during ~he lije oj this mor[- qage, then this ,nortgage shall, at the option oj the Afortgagee herein, becoirre irr~mediately due and payable Jor the ~ ~ Jutl sum oJ the p?~recipal 6alonce and enterest then due. 8. The terms "Mortgagor" and "Mortgagee" whenever used in this instrument shalt include the heirs, ; ~ personal reptesentatives, successors and assigns of the respective parties hereto. Wherevet used the singular ' ~ number shali include the plural and the plural the singular, and the use of any gender shall include all genders. , ~ ' -y-" (Seal) Si ed. seale n t iv ed in presence of: ; ~ (Seap ~ac~i ~ cc. , i ! ~ STATE OF FLORIDA I ~ COUNTY OF~'3~I~EX ss eestore meUpCrlso~nally appeared ERNEST KING at~d DELIA MAE KING~, his wife, ~ to me well known and known to me to be the individuats described in and who executed the foregoing instrument, and acknowledged before me that they executed the same for the purposes therein expressed. WITNESS my hand ~ and off~cial seal in the County and State last aforesaid this 213t Day of Mareh, 1974 ~ ~ ~ , - . , . o..... ~ty Commission Expires: Jutte 30, 1975 Notary Public. State of FlOrid 8~••1.8 ~ ~ ' = ~ fII.EG r.„t ='s:GQNOED _ , ~ ST. LuC ~ :~~•sMT1f FU. ~ , Rr~-•: "i~~~S ' ~ ~~rar, %Iit' COURT _ - . • , arr~~:~' '.-t :l . .,,,,..,t.......~~~ a~R 3 Il 4~ PH - 8~225 ~~110 z, xb _ _ - ~.s_- _ : ~ . ~ LLp~ . ~ ~ ~ . ~ ~ _ ~Y . _ . . y~ , . . u.. .