HomeMy WebLinkAbout1800 Our File 5-30,957 - _
in~s sa~~ast w u~Acr tnnsfe~ u( I~tle tu tAe ~o«~a~cd ptopt~ty ?a eat?n~uuM~tnt W the ~ndebiednr» .c.u~cd hc~ce). ~U ~~~A~. ~:Uc
an0 m~e~e~~ uf iAe ~~tst~ ~n ~nd to any ~aswaece pohcu: ~hen ~n (orce shsll pass to ~he purcAaac~ or t~~n~ee_
lAI 7o pe~I.vm, .~ply +~tA snd aA~de by e~cA a~d eve~Y ~e supul~t~a?s. a~reemeats. cond~l~oaa rad covenae~s s~.d p~,+,~soq
aote and ~n ih~~ deed .et (wtA.
~I~IttO GYS wlll ~Illf 3
1 That ~f sny ot said suauc ul a~oneY hcre~a ~e(ened to be not praep~lY and tuily Ps~d ~~tA~n
tAe saee severally peca~es due aad PsY~sle.a d eacA and every tAe supul~t~ont. ~~~eewse~s. conA~ums awd co.~e~a~ts o( sa~ Ko~.s-
say note a~d tA~s decd. a euAer. ~~e nW ~YIIY P~'llOfKd. cospi~ed v~th and ~s~ded sy, ~Ae .a~d akrc~a~e s~ ~e~umrd ~ sa~
pro~~ssaY note sAall beco~t dYe aod paY~elt tatA+~~A a tAtrestter at tAe opl~ow ot tbe No~t~atee as (rllr sad to~letelY as Wt
ss~d a~pe~a~e suw of sa~d prom~scary aoie ~r~s o~~s~na11Y supul~ted lo se oa~d on sYC? d~Y. awyWu~~ u~ sa~d prol~sso~Y ~ae or Aere~~
to tAe canusry notvr~~Astand~ns. '
) 7'Aai ,e ordee to accele~s~e tAe w~wn~y of the ~adebttdness Auepy secured, Dec~use d t!?e fs~lure ot U~e !1«~p~a ~o paY asy a~.
as~e.~meat, i~ab~luy, obl~at~m .w encuoiMance upoo s~~d p~operty, a.a Aere?n prov~dcd, shali eot be aecescary or re~~sHt dst ~e ~
rew~ptee sAall (ust paY V+e sase. ~
2. The \tortaagee may. at his opt~on, and without waivina his ri6ht to accelerate the iadebtedaess he~eby
secured and to foreclose the same. pay either before or after delinquency any or all of those certaia oblisatioas
required by the terms hereof to be paid by ihe ~~ortgaaor far the protection of the mextaase securitY or for the coi-
lection of the ir~debtedness hereby secured. All sums so advanced ot paid by the Liort~a~ee shal! be charaed iato
the mort6age account anJ become an ~ntegral part thereof. subject in all respects to the terms, cond~tions, and
covenants of the afcxesaid promissory note. and this mottgaae. as fuliy and to the same exteat as thouEh a part
of th~ oriainal indebtedness evide~ced by said note and secured by this mortsa6e. e:ceptins however, d~at said
sums shall be repa~d the \tortEagee [orthwith upon its demand and be in addition to tl~e ceaalar monthly iastall-
ments provided by the mort6ase note.
3. That the abstract or abstracts of title coverins the mort~a6ed property shail at all times. durios the li[e
of this matgage, remain in possession of the Nlortgagee and in event of the foreclosure of this mort~aae or other
transfet of title to the m~rtgaged property in extinauishment of the i~ebtedness secured heteby, all ~i~ht. titi~
and interest oi' the l1.xt6agor in and to any such abstracts of title shall pass to the purchaser or sraatee.
4. To the extent of the indebtedness of the Mortfasor to the Mottsa`ee described herein or secoted hereby.
the ~1ottEa6ee is hereby subroaated to the lien or liens and to the rights o! ihe owners aad l~olders thereoi of eac6
and every mortgage, lien or other incumb~ance on the land described herein wfiich is paid aad!or satisCed. ia
whole or in pan, out of the proceeds of the loan described herein ot secured heteby, aad the respeetire lieas o(
said mort~ages, liens or other incumbrances, shall be and the same and cac6 of them heteby is preserved'sad shall
pass to and lx held by the Mortgasee he~ein as secutity fot the indebtedness to the Mort6asee 6ereie deseribed
or hereby secured, to the same eatent that it would have bee~ pteserved and ~rould have beea passed to aed beea
held by the ~brt6agee had it been duly and tegululy assi6ned. ttansferred. set over. and deliveted unto t6e Moct-
Ea6ee by sepa~at~ deed of assignment. notwithstanding the fact that the same may b~ satisC~ed aad eaacelled of
recocd. it beiog~the mtention of the puties hereto that the same will be satisCud and cancelted of recotd bp the
holders thereof at or about the time of the recordins of this mortaaaa
S. In the event the ownership oi the mortgaaed pree?ises. or any part thereo(. becomes ~ested ia i pcrson
other than the ~1ort6agor, the ~tortsaEee may, wit6out notice to the Mortgaaor. deal with such successo~ ur suo-
cessots in interest with refetence to this deed and the debt heceby secured. in the same mannsr as writh the f?loct-
gasor without in any way vitiatins ot dischargin6 the MottEa`ot's liability hereunder or upon the debi 6ereb~r
secured. No sale o[ the premises hereby mort6ased and no forbeuance on t6e patt of the Mortiasee. aad no e:-
tension of the time for the paymeat of the debt hereby secured 6iven by the Moct~saee s6a11 opente w retease.
~ discharse. modify. chanse or affect the ori`iaai liability of the Mortaasor 6erein eit6er ia w+lwle oc ia part. -
i 6. The lien ot this deed secures and shall continue to secure paymeat o[ said indebtedness a iedebted-
s ness. however evidenced. whethcr by said promissory note or any renewal or e:tension thereof or sabsutntt t~ere-
~ for. or otherwise, until all such indebtedness shall have been fully paid.
~ 7. In the event the mortgagors sell, convey or hansjer tht n~ortgaged preiaists d~rina the lije oj tkis aort-
~ gage. ~hen this ,nortgag~ skall, at the option oj the Atortgagee hertin, beco~e in~neediatefy dne ond payabte jos tke
Jull swn oJ the pnncipol balance ond interest then due. .
8. The t~Tms "Mortsa6or" and "Moctaagee" whenever used in this insuume~t shall -aclude the 6eirs.
pasonal representativ~s, successors and assigns of the respective puties hereto. Mherev nsed thc sinsular ;
number shall include the plurai and the plural the singulaz. and the use any nder shall i(nd all senders. ~
~ ~
Signe se led del' re e presence of: ~~a~~ 3
~ ~
Soa11
~-tic~ ~ ~
STATE OF FLORIDA I
COUNTY OF j ss
ST. LU~ ~
Before me arsonally apaared REUBEN McPHEE and GRACE McPHEE, hi.S wife,
~ to me well know~n and Icnown ro me to be the individuals described in and who executed the foreaoin6 insuumeot,
~ and acknowledged before me that they e:ecuted the same for the purposes therem e:pressed. 1YITNESS my baad
~
~ and official seal in the County and State last aforesaid this 12t11 DSy of September, ~974
~
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~1y Canmission Expires: Ll 0 1 ~5 Notuy Public. State of Flori .
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2~32 ~~1800
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