HomeMy WebLinkAbout2642 Our File 5-3Q,549
tA~s em~~IRaKr .w ~.the~ t~an~lc~ ul ~~~le ~he mor~sa~ed popc~t~ ~n cat~n~waRmen~ u~ tAc +ndeAtcdnes~ ~eamcd 1:~~c~Y. •II :~~h~, ~~~le
rmf ~n~erc~t uf ~he Mui~~a~w m~nA to an? msurance pohc~cs ~hen ~n (dc! sAall p~aa lo IAc purtAa~er ar pan~ee_
(h1 To per~~~m. ~.r+~ply ~ruh and ab~de by each •n~! everY Nt s~~pul~hons. a~reee~ents. cond~t~m~ •nd co~enan~a ~n .~id pc.,~~esw>
note and ~n th~. deeJ .et lonh.
l~ 1 TAa~ any o( .a~d sua~. uf muney here~n retened to be nut prwnptly and full)' pa~d ~~~h~n fdtcen days ntit aher
lAe ssme sevrrallY ~'~umes due and paYaAle.ur each and everY the s~~pufanons. asrcea~enta, ..vrl~~~oea anA co~e~aets ol sa~d pru~~s-
saY note and th~s dred, ur e~ther, are not fully pe~forsed, cun~pl~ed +~uh and ab~ded s>', ~he .a+d akre~~ir s~re seat~nned +n sa~d
ptom~ssory note shall becane due amt paYeble (ortAwuA a ~herea(ter a1 tAe opuon o( ~~e N«t~asee as (ally arwf cowpteeelY as ~l tAe
sud a{~reR~te sum ot sa~d prcxmccMy note rrss on~~nalb' supul~ted ~o se pa~d m sucA d~Y. aayttms m ss~d oroeasaw) ao~e a Aere~n
to tAe cant~ary not~~thstand~nR.
V 1 Tha~ in ordtr to rccelerste tAt r.~tun~y of tAe ~nlebtedness hereby secwed, becaw! v! ~c ta~turt of thc No~t~a~.y j.~ paY any ~a~,
•sse.sment, I~~A~I~U', ~+bl~~a~~oe ~w en~umMance upon ss~d proper~y. ss Aere~n pro~~ded. ~t shaU not be wc.es.:rY or reQu~sut that the
mw~~a~ee srali hr.t ~+ay ~Ae same.
Z. The \lortgagee may, at his aption, and without wa~v~n6 h~s r~~ht to acceletate the indebtedness hereby
secured and tu foreclose the same, pay either before ar aftet dei~nquency any or all of those certa~n obl~sat~ons
required by thr terms hereof to be paid by the ~iortgagot for the protection of the martsa6e secur~ty or fot the coi-
lection of the indebtedness hereby secured. All sums so advanced ot pa~d by the No~tea6ee shail be chataed ~nto
the mortgage account anJ become an integral part thereof, subject in all respects to the terms, cond~tions;-znd
cuvenants ~he aforesaid prom~ssoty note, and this rtwrtgage, as~fully and to the same exteat as thouEh a part
of the original indebtedness evidenced by said note and secured by this mortgaae, e:cept~n6 6owever, that said
sums shall be tepa~d the 111ottga6ee fotthwith upon its demand and be ~n addition to the re6ular monthly install-
ments provided by the mortgage note.
3. That the abstract or abstracts of title coverin6 the mottsaaed ptoperty shall at ail times. durin6 the tife
of this rtx~rtgage, remain in ~?c~ssession of the ~lottgagee and in event of the foreclosure of this mort6aae ot ather
transfer of t~tle to the mortgaged property in extinsuishment of the indebtedness secured hereby. all tisht, title
and interest of the \lurtgag~~r in and to any such abstracts of title shall pass to the purchaser ~ Erantee.
~i. To the extent of the ~ndebtedness of the Moctga6or to the \lortssaee described herein or secured hereby,
the ~Mrtgagee is hereby subrogated to the lien or liens and to the nshts of t6e ov?ners and holders. t6ereot ot each
and every martgage. lien or other incumbrance on the larid described herein which is paid and.•or satisfied, in
whole or in pact, out of the proceeds of the loan desc~ibed herein or secured hereby. and the respective liens ot
said mortgages, liens ot other ~ncumbrances, shall be and the same and each of them heteby is presecved and shall
pass to and be held by the \lortgagee herein as secutity fot the indebtedness to the \brtaa~ee herein described
or heteby securtd, to the same eatent ttiat it w~ould have been presetved and wiould have been passed to and been :
held by ~the '1Mrtgagee had ~t been duly and regularly assiEned, trans[erred, set over. and delivered unto the ±11ort- ~
gagee b~~ separate deed of assignment, notwithstanding the fact that the same may be satistied aad cancelled of
recotd. it be~ng the intention af the parties hereto that the same w~ll be satisfied and cancelled ot record by the
holders thereo[ at or about the t~me of the recordins of this mortgage.
5. In the event the ownership of the mortgaged premises, or any put thereof, becanes vested in a person
other than the \lortgagor, the \tottgagee may, without notice to the !Nortsa6or. deal with such successor or suc-
cessors in interest N~ith reference to this deed and the debt heteby secured. ~n the same manner as rrith she \tort-
gagor ~~ithout in any vray v~tiating or dischargina the Mort6aaot's liability hereunder or upon the debt her~b}
secured. No sale of the premises hereby mortgaged and no forbearance on the part of the !~to~tsa6ee, and no ex-
tension of the time for the payment of the debt hereby secured siven by the ~lortaaaee shall operate to retease,
discha~ge, modify, changc or affoct the original liability of tbc Mort~asor herein either in .hole or in put_
; ~6. The lien of this deed secutes and shall conti~ue to secore payment of said indebtedness or ~ndebted-
f ness, however evidenced, whether by said promissory note ot any renewal or e:tension thereof or substitute there-
( for, or othetwise, until all such indebtedness shall have been fully paid_
f 7. !n ~he e~~cnt the mortgagors sell, convey or t~ansfer tht neortgaged pen~ises during die tiJe oJ this iaort-
I
~ ,qaRe, then this morlgage shaU, a~ the option oj the !Ifor~gagee herein, beco~n~ inunediately dut and payabte Jor the
Jul! sum oJ the p~~ncipal 6alance and interest then due.
g 8. The terms "Motigagor" and "Mortgagee" w•hcnevet used in thic instrument shall inc~ude thc heirs,
~ personal representatives, successors and assigns of the respective parties heteto. ~'hetever used the sinsular
number shalt include the plural and the plural the singular, and the ~ se ot any ~ender shall ~nclude all 6enders.
Sign , sealed de ~ ere n e presence of: ~-~~ti~~-~~~ «a~)
.~;~bh :~i"~D (Seal)
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• . ~ ~R~~. _ ~:-a~b ~lti
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~ STATE OF FLORIDA I ~i ~I! a7 f~ i~4
COUNTY OF ~~s a,u 9 i 1~ - 9" 3~ A-~'~" #
~ ST. L~
~ Before me personally appeared MELBA WALLACE, an unmarried WO[p~3II,
n~ to me well known and known to me to be the individuals desctibed in and who e:ecuted the tae6oinE ~nstrumcnt.
y~
and acknowledged betore me that they executed the same for the purposes there~n expressed. WITNESS m} 6and
~ and o(f~c~al scal in the County and State last aforesaid this 27th day of June, 1974
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~ty Commission Expires: .Jt1lle 3O, 1975 Notary PubGc. State of F10r~
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BOOK ~JO ~'AGE 264~
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