HomeMy WebLinkAbout2052 Our~ file 5-31,002
~h~~ mo~~`aRr .w uiRrf tranate~ a( ~~~~e ~u ~he murtra~ed pope~~y m eaun~w~hmeM ut IAe ~ndebttd~ess ~ew~ed ha~e~f, al! n~h~, Utlt
am1 ~nlere.~ o( tAe \1wi~atW ~n 1o aoy ~nswance polic~es ~hen ~n lace aMll pass to tAe pwchaset ar ~ramee.
Ih) To pcrf~vm. ~vmply ~r~~A •nd s1+~dt by each and every the st~pulrt~ons. s~tcen?eo~s. tond~Uona and covenants ~n s~id prwmsswy i
no~e snd in ih~s dted .et («t~. 1
t~fteeo days newt al~er
'1'Aal any o( s~~d sums u( money here~n te(erted to bt not promptlY fully pa~d +uh~n !
the ssme severallY ~~~es Jue ~nd paYable.a eacA and every the st~pulat~ons. a~reen+entc, cond~t~wic and covenants o( sa~d pran~9- ~
aay note and tAis deed, or euher, are not fully perforwed, caapl~ed ~r~th and as~ded ey, ~he .a~d as~re~a~e swa menuoned ?n sa~d
prom~ssay note sAall becant due and paY~ble fortAw~~A w thereafte~ •t tAe oplion o( the \1ort~a~ee ss tully and completely as the
s~~d at~ret+te suw of sa~d pramic.ay note •~s or~~~nally sUpulated to be ps~d on sucA day, anyth~n~ ~n sa~d p+om~sso~y oo~e or ~ere~n
to the cm~nry notr•~ths~aodmR.
1 That ~n otder to actele~ate 1At matur~ty ot the indebtedness hereby cecwed, ~ecause u( the fa~iwe ot ~he ~lwtta<a ~n pay anY ~a..
asse~sment, I~ab~l~ty, obl~sauon ix rncumbrsnce upon s~~d prope~ty, as here~n prov~ded, ~t shall not be oeces~ary or requ~s~tc that ~he
mat~a~ee shall (u~~ paY ~Ae same.
The ~lortgagee may, at his option. and without waiving his right to accelerate the indebtedness he~eby
secured and t~~ forecluse the same, pay either before or a[ter delinquency any or all af those certain obligations ;
required by the terms hereof to be paid by the ~tortgagot far the protection of the mortgage security or for the col-
lection of the indebtedness he~eby secured. All sums so advanced or pa~d by the ~lortgagee shall be char6ed into
the mortsage account and became an integcal part thereof, subject in all respects to the terms, conditions, and
covenants oi the afaresaid promissory note. and this mortgage, as fully and to the same extent as thouah a part
of the original indebtedness evidenced by said note and secured by this mottgage, excepting howevet. that said
£~ms shall be repaid the Alottgagee forthwith upon its demaod and be in addition to the rcgular monthly install-
ments provided by the mortgage note.
3. That the abstract or absttacts of titte covering the mortgaged property shall at all times, during the life
of this mortgage, remain in possession of the Alottgagee. and in event of the toreclosure of this mortgage or other
transfer af title to the mortgaged property in extinguishment of the indebtedness secured hereby, all ~ight. title
and interest of the :~lurtgagor in and to any such abstracts o[ title shall pass to the purchaser or grantee.
4. To the extent of the indebtedness of the Mort~agor to the Mortgaaee described herein or secured hereby, - f
the Atortgagee is hereby subrogated to Ihe lien or liens and to the rights of tht 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 loan described herein or secuted hereby, and the respective liens of
said mortgages, liens or other incumbrances, shall be and the same a~d each of them hereby is preserved and shall
pass to and be held by the Mortgagee herein as security [or the i~debtedness ta the Mortgagee herein describcd
or hereby secured, to the same eatent that it would have been presenred and would have been passed to and been
held by the ~lortsagee had it been duly and regularly assigned, transfened, set over. and delivered unto the Mort-
gagee by separate deed of assignment, notwithstanding the fact that the same may be satisfiEd and cancelled of
recad, it being the intentio~ 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 recordina of this mortgage.
5. In the event the ownership of the mortgaaed premises. or any part thereof. becomes vested in a person
other than the i4k~rtgagor, the Nortgagee may, without notice to the Mortgaga. deal with such successor or suc-
cessors in interest ~•ith refere~ce to this deed aad the debt hereby secured. in the same manner as with the hlort-
gagor without in any way vitiating or dischargin6 the Mottgagor's liability hereunder or upon the debt hereby
secured. No sale of the premises hereby mortgaged and no forbearance on the pacl of the Mortgagee, and no ex-
tension o[ the time for the payment of the debt hereby secured given by the Mortgagee shall operate to release,
discharge. modify, chang~ or affect the original liability of tht Mortgagor herein eithet in whole or in part.
6. The lien of this deed secures and shall continue to secure payment of said indebtedness or indebted-
aess, however evidenced. whether by said promissory note or any renewal or extension thereof or substitute there- E
for, or otherwise, until all such indebtedness shall have beeo fully paid.
i 7. /n the eveRt the morlgagors sell. convey or transJer the n~ortgoged premises during ihe li~e oj this mort-
; gage, then this mortgage shall, at the option oJ the Atortgagee herein, 6econ~e in~mediately due and payable Jor the
Julf sum oj the principnl 6alance and interest then due.
8. The te~ms "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the heirs,
personal representatives,~successors and assigns of the respective parties hereto. Wherever used the singular
number shatl include the plural and the plural the singular. and the use of any gender shall include all genders.
~ ~Q-~ (Seal)
igned. s livere ~ e presence o(:
F ~ ~t+p REC R 0 (Seal)
ER PL~lTRAi i
~~'J CLERK Ci~CU=7 COUItt ~
G~~' RECOR~? YEFI~IEO ti~/ds
~ STATE OF FLORIDA I Y I I l~ 1 N ~
co ST Y LUCIE ~ SS {
Be fore m e p e r s o n a l l y a p p e a r e d m
R P~
R ~ a ri unmarried WOmBII ~
to me wtll known and known to me to be the individuals described in and who executed the foregoing instrumcnt,
~ and acknowledged before me that they executed the same for the purposes therein expressed. WITNESS my hand
~a
~ and official seal in the County and State last akxesaid this 3j3t DSy of Augus 1974
~
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~ly Commission Expires: JuRe 30 ~ 19~5 Notary Public. State of orida 8 ~.l1 ~
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