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HomeMy WebLinkAbout0899 ~ File 5-29,782 rotiae thereot by m~il w the Mort~gee ~nd tAe ~tcxtga~ m~y make pnw[ ot luss if [he ume i~ rot medr promptly by the Natgagor. !n evenf~ o( toK doeure o( thir rtartgsge o~ other transter ot titb to the mortgagud propert>• ~n extinguiaAms~t o( cAe indeM,ed+~ses eecvred MnbY. ~11 ridltt. title ~nd intereet ot the Mortgagor in and W any ineurance policie~ tAw? in torce ~hall pus to che purchaxr or grantee. IA1 To pertorm, eomply ~rith and abide by e~ch and every the ~upul~tions. ~greements, condition~ ~nd covenuue in uid promia.+ory note and in this deed set tortl?. lil'IT?at it aay ot ~~d eums ot money herein reterred to be not promplly ~n3 fully paid witRin- -------~heen ~y~ nut aftar the same ~•eraUY becomes due snd payabk. or it each a~d ev~y t he stiputations, sRreements. ~ronditions ~nd m~~enant s oE aaid promis~y ~te and tl~is deed. or either. ue not fully patomied. complied with snd abided by, the said aggregste sum mentionud in uid promis9ory note ahdl beca~ due a~d P~Y~bk forthwith or tl~erarher at the option o( the Mortgagee ~s (ully ~nd comp~etely as it tM said a~egste sum ot said promissory note was originally stipulated W be paid on such day. an~thing ~a sud promisaory oote or herein tu thecuntrary natr~ithsianding. 1 j i'Rut ~n order to ~ccr~erate the maturity ot lhe indebtedness herrby seavrrd. bcrause of the tailure ot the \tortgagor to pay sny tu, asxssment, liabili• ty. obfigation or e~cumbrence upon said property. as herein pro~~idid. it v1~all mt be netessar}• o? requisitr that the mortgagee shdl Cu~t pay the same. 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 atter delinquency any or all 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. AA sums so advanced or peid by the Mortgagee shall be charged into the mortgage account and become an integral part thereof, subject in all respects to the terms. conditions, and covenants of the aforesaid promis- sory note, and this mortgsge, as fuqy and to the same estent as though a part of the original indebtednesa evidenced by said note and secured by this mortgage, excepting however, that said sums shall be repaid the Mortgagee forthwith upon its demand and be in addition to the regular monthly instalUnents provided by the mottgage note. 3. That the abstract or abstracts of title covering the mortgaged property shell at aU times. during the life of this mortgage, remain in possession of the Mortgagee and in event of the foreclosore of this mortgage or other transfer of title to the mortgaged property in e:tinguishment of the indebtedness secured hereby. all right, title and interest of the Mort- gagor in and to any such abstracts of title shaU pass to the purchaser or grantee. 4. To the extent 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 h~ld~s 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 loan described herein or secured hereby, and the respective liens of said mortgages. liens or other incumbrances, shall be and the same and each of them hereby is preserved and shall pass to and be held by the Mortgagee herein as security for the indebtedness to the Mortgagee herein described or hereby secured. W the same eztent that it would have been preserved and would have been passed to and been held by the Mortgagee had it been duly and regularly assigned, transferred, set over, and deGvered unto the Mortgagee by separate deed of assignment. notwithstanding the fact that the same may be satisfied and cancelled of record, it being the intention of the parties hereto that the same will be satisfied and cancelled of record by the holders thereof at or about the time 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 .?,e.. .?,o u,~.,~~o.,* ttio Mnrtnea~e mev. without notice to the Mortgagor, deal with such suocessor or successors in in- ~--e-o--• - - terest with referenee to this deed and the debt hereby secured. in the same manner as with the Mortgagor witnouc in any way vitieting 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 Mortgagee, and no extension of the time for the payment of the debt hereby secured given by the Mortgagee shall operate to release, discharge, modify, change or affect the original lia- bility of the Mortgagor herein eicher in whole or in part. 6. The lien 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 eatension thereof or substitute therefor, or otherwise. ' until all such indebtedness shall have been fully paid. ! 7. In the euent the rrtortgagors sell, conaey or tmnsjer the mortgaged premises during the lije of this mortgage. j then this Mortgage shall, at the option o( the Mortgagee herein, become immediately due and payable for the fuU surre of ~ the principal balance and interest then due. ~ 8. The terms "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the heirs, per- sonal representatives, successors and assigns of the respective parties hereto. Wherever used the singular number shall include the plural and the plural the singular, and the use of any gender shall include all genders. i~ rv ~,~~~,iQ ~Q~ ~ igned, seal iv ed in L presence of: - ~ ~1~ ~ s~ti,:,'."a. ISeall ; ~y , ~ , ~~tcc~ J/~ ~ »t r /C~~i ~ -r,- J STATE OF FLORIDA S9 COUNTY OF~~ Also known as JOHNNIE LEE DAVIS ST. LUCIE Before me personally appeared JONNNY LEE DAVIS/ and PEARLINE DAVIS ~ his wif e~ to me well lrnown and known to me to be the individual described in and who executed the foregoing instrument, and ~ acknowledged before me that they executed the same for the purposes therein espressed. WITNESS my hand and of~cial seal in the County and State last aforesad this 27th Day of April, 1974 ~ ~ , " ~ C _ ~ ' ' Florida at ~ ' My Commission Expires: -june 3O , 197 S__ ;Votary Pubtic, State of y,_ ^ ' ~ / ~ O ~ • . Eo ~.e?`-;,~~y~y F~A' . E~~ ~ct_ ~",..,~~5 j~ . - S~• ~~~i - co~a ~`~f~~~ _ :o~ ptf,~ .3 y6e~, ~a ~ai ~ `z~~~~2 gaoK ~27 PA~E 897 - y~,~. _ ~ i~~^ ~ - .--a _ ~ - _ ~ i ~ .