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HomeMy WebLinkAbout2856 aotiq theroot by m~il to tl:e ~lortgsgee ~nd the Nortgagce may make proot o( luss it thr s~me is not made promptly by t1?e Mortgagor. In wenv o( toro dosure of thi~' mortge~s w other tr~nafoc of title W the mort~yjed prope?tY ~n estinguishment o( Lhe indebted~?en sscwed MteDy. ~1! rithc. titk ~nd interest of !be Atortg~gor in u?d W any iruur~nce policie~ the~ ia force ehall paas to the purchaxr or grantee. a IA1 To psrtonn, comply with and ~bid~ by e~cA ~ad svery the stipulatioro. ~greements, conditions aad co~ynanu in said pwmi~sory ~ote aad in thi~ ded sst twth. - Ii1'll~at it any ot said aums of money hercin reterred to be not promptly and fully paid within_____.__ ___-fitteen daye ne=t aftsr t6e eame ~sverally becmies due and payabk, or it e~eh ~nd evay the stipulation+, agreeinents, conditiun~ ~nd co~rasnta of said promiaao~y note aad tl~is deed, or either. ~re aot tulty pa(ormed. complied with ~nd abided by. the aaid ~ggregste sum mentioned in said promissory note ahaU becane due and p~yabb torthwritA w lAere~fter at the optioo of the Mortgagee as [ully and completdy as it t he said aggregue ~um ot said promissory note w~a origiruUy alipulated to be paid on such day, anything in eaid promiseory mte or herein to the contrary notwithstan~ag. Ijl7bat in onier to acceknte the maturity of the iadebtednena hereby secvred, because of the tulure of the Nortgsgor to pay ~ny tu, asses+ment, liabili- ty, obligatiot~ or encvmbranoe upon s~id property, as herein pro~~ded, it shaU not be necrsaary or requiuite that the mortg~gee ahall Crsl pay the asme. 2. The Mortgagee may, at his option, and without waiving his right to accelerate the indebtedness hereby secured and to foreclose the same, pay either before or after delinquency eny or aU of those certain obligations required by the terms hereof to be paid by the Mortgagor for the protection of the mortgage security or for the collection of the indebted- ness hereby secured. All sums so advanced or paid by the Mortgagee shall be charged into the mortgage aceount and become an integral part thereof, subject in aU respects to the terms, conditions, and rnvenants of the aforesaid promis- sory note, and this mortgage, ea fully and to the same eztent as though a part of the original indebtedness eviden~ed by said note and secured by this mortgage. ezcepting however, that said sums shall be repaid the Mortgagee forthwith upon its demand and be in addition to the regular monthly instaWnents provided by the mortgage note. : 3. That the abstract or abstracts of title covering the mortgaged property ahell et all timea, during the life of this = mortgage. remain in possession of the Mortgagee and in event of the foreclosure of this mortgsge or other transfer of title ~ to the mortgaged property in eztinguishment of the indebtedness secured hereby, all right, title and interest of the Mort- gagor in and to any such abstracts of title shall pass to the purchas~ or grantee. 4. To the e:tent of the indebtedness of the Mortgagor to the Mortgagee described herein or secured hereby, the Mortgagee is hereby 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 satisfied, in whole or in part, out of the proceeds of the losn described herein or secured hereby. and the respective liena of said mortgages. liens or other incnmbrances, shall be and the same and each of them hereby is preserved and shall pass to and be held by the Mortgagee herein as aecurity for the indebtedness to the Mortgagee herein deacribed or hereby secured, to the same eztent that it would have been preserved and would have been passed to end been held by the Mortgagee had it been duly and regularly ~ assigned, tranaferred, set over, and delivered unto the Mortgagee by sepsrate deed of essignment, notwithstanding the fact that the same may be setisfied and cancelled of record, it being the intention of the parties hereto that the same will be setisfied and cancelled of record by the holders thereof at or about the tune of the recording of this mortgage. 5. In the event the ownership of the mortgaged prEmises, or any part thereof. becomes vested in a person other than the Mortgagor, the Mortgagee may, without notice to the Mortgagor, deal with such auoceasor or auccesaors in in- terest with reference to thia deed and the debt hereby secured, in the same manner aa with the Mortgagor without in any way vitiating or discharging the Mortgagor's liability hereunder or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part of the Mortgegee, and no eztension of the time for the payment of the i debt hereby secured given by the Mortgagee shall operace to release, discharge, modify, change or affect the otiginal lia- ~ ~ bility of the Mortgagor herein either in whole or in part. ; ~ 6. The 6en of this deed secures and shall continue to secure payment of said indebtedness or indebtedness, however ~ ; evidenced, whether by said promissory note or any renewal or extension thereof or substitute therefor, or otherwise, i until all such indebtedness shall heve been fully paid. - a 7. In the event tlie mortgagors sell, conuey or transjer the mortgaged premises during the li~e oj this mortgnge. - then this mortgage sha!!, at the option of the Mortgagee herein, become immediately due and payable for the ~ull sum o( ; , 4 the prineipal 6alance and interest then due. ~ 8. The terms "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the heirs, per- ~ sonel representatives, successors and assigns of the respective pa ' hereto. Wherever used the singular number shall ~ include the plural and the plural the singular. and the ase of ge der s 11 ' clude all gender s ~ ~ ~ ~ ti Sign , sealed de ' ed n t ~ ` ~ eall ~ , ~ . t ~ ~t iLC- :~?"I ~ c ;zi_ G ~_ci ~ ? ~ STATE OF FLORIDA gs i ~ COUNTY OF~~ = ° 5T. LUCIE BeforemepersonaUyappeared J. PATRICK BEACOM and EMILY PEED BEACOM, his Wife, to me well lrnown and known to me to be the individualslescribed in and who eaecuted the foregoing instrument, and acknowledged before me that they executed the same for the purposes therein e:pressed. WITNESS my hand and - official seal in the County and State tast aforesa'.d this 6th Day of April, 1974 _ ~~~~„u~~ut~~,,,~. , _ ' . ,.^~5 t , 3 _ v M , : ~ ~ _ ~ ~ . June 30 1975 FloriB~ ~,Lr ` - ~ My Commission Expires: ~ Notary Public, State of _ ~ • ~ - _ ' t ~ - . ..r~ 'y. S ~ : " ~ _ r.: S~ .1 • ' . r•.: - A~'••..~~•••• . _ " , l I • r . - ~~s soix 226 N;c~ 2854 ~ ~ - _ ~ , . _ _ ~ r~.