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Home My WebLink About2344 pur File 5-31,466 ~ i • 1 tA4s mw~~s~e w olher uaes(r~ 01 uUe tu ~ht mo~~~s~ed property ~n eat~n~wshenent uI Iht ~ndebttdne~a at~wed hc~tAy, all n~A~, uUe and ~nurest uf the Akx~~aiw and 1o seY ~nsw~ece pol~c~es thee ~n (wce shali paas Io 1he purchsser w~ranue. (h1 To periam, cumplY ~r~tA and ab~de by esch and every t!?e s~~pulal~ons, a~reeme~ts, cond~t~ons and covenaets ~n s~id p~wn~csay ao~e and ie th~a deed ~et Iwth. TAst d any of sa~d sum~ o( naaty herem re(erted to be not praaptly and fully paid +~~h.n tdteee dsYs nezl alta ~he ssue severally becaees due and paY+ble,ar ~f eacA and eve~y the shpul~t~ons, ~~~eements, corwi~uons and covenants of ss~d pan~s• say oote and ~A~s dced, w e~~her, sre no~ tully pe~fonsed. c~nDlied +~itA and ab~ded ~y, the ~a~d a~{rt~s~e sunl menl~a?ed ~e ss~d prow~sswy note shall becaee due and psYable taU?witA or theteafte~ at tAe opaon ot tAe Nat~~~et •s fully and tompltltly as ~t tAe ~ s~~d a~~e~a~e sus of said prao~aao~y note W~s a~~~nally stipul~ted ~o be pa~d on such dry. anytAin~ ~n s~~d p~om~ssay note or Aere~n to tAt cantrary notv~lAstand~e~. ~ 1 That ~n otder to accelerate the mawn~y oi Ihe indebtedeess 6sreby sccu~td, ~catise of iht faiiura at tlse l.S~tga~ar to pay anY a:, - assecsa+ent, Iub~lity, obl~~a~ion a rncumbrance upon sa~d proper~y, as hercin povided, ~t shall not be necesca~y or ~equ~site thst tRe iewtp~ee sAal) t~rst pay the same, 2. The 1~lortgagee may, at his option. and without w~aiving his right to accelerate the indebtedness heteby secured and to foreclose the same, pay eithe~ before or aCter delinquency any or all of those certain obligatio~s required by the terms hereot to be paid by the Mortgagor for the protection of the mc~rtgage security or for the col- lection of the indebtedness hereby secured. All sums so advanced ot paid by the Mottgagee shall be char6ed into the mort6age accoont anJ became an integral patt thereof. subject in all respects to the terms. conditions, and covenants of the_afocesaid promissory note, and this mottgage. as fully and to the same eatent as thou6h a patt . of the oriaioa! indebtedness evidenced by said note aod secured by ihis mottgage, excepting however. that said sums shall be repaid the hlortgagee torthwith upon its demand and be in addition to the regutar monthly install- ments provided by the mortgage note. ; 3. That the abstract or abstracts of title coveting the mortgaged property shall at all times,.durins the life ~ of this mortgage, remain in possession of the Mortgagee and in event of the ioteclosufe of this mortgase ot oihet trans(er of title to the mortgaged property in eatinguishment of the indebtedness secured hereby. all tight. title ~ and interest of the ~lortgagor in and ta any such abstracts of title shall pass to the purchaser ot grantee. ~ 4. To the extent of the indebtedness of the Mort~agor to the Mortgagee described herein or secured hereby, the lllurtgagee 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 Iand described herein which is paid and!or satisfied, in whole a 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 fot the indebtedness to the Mortgagee herein described or hereby secnred, to the samc extont tt~at it would have been preserved and ~would have been passed to and been held by the ~lortsagee had it been duly and regularly assigned, transferted, set ovet, and delivered unto the Mort- gagee by separate deed of assignment, notwithstandina the fact that the same may be satisfied and cancelled ot record. it being the intention of the parties hereto that the same will be satisfied and cancelled of recocd by the holdets thereof at or about the time of the recording ot this mottgage. . S. In the event the ownership of the mortgaged ptemises. ot any part thereof. becomes vested in a person ` ~ other than the !~lortga6or. the Nortgagee may, without notice to the MottgaEor. deal with such successot or suc- cessors in interest with reference to this deed and the debt hereby secured. in the same mannec as with the Mort- ' gaaor without in any way vitiating ot discharging the Mortaagor's liability hereunder or upon the debt hereby ` seeured. No sale of the premises hereby mottgaged and no forbearance on the part ot the Mortga6ee. and no ex- tension ot the time for the payment of the debt hereby secured given by the Mongagee shall operate to release, discharse, modify, chan~e or affect the oriainal liability of the Mortgagor herein eithet in whole or in put. 6. The lie~ of this deed secures and shall contiaue to secute payment of said ind~btedness or indebted- ness. however evidenced, whether by said promissory note or any renewal or extension thereo[ or substitute there- for, or otherwise. until all such i~ebtedness sha11 have been tuily paid. ; 7. /n the event the moitgagors sell, convey or transjer the mortgaged prernises during the li~e oJ this rnort- ~ gage, then this mo~~gage shall, at the option oj tbe Alortgagee herein, become inmiedio~ely due and payable foi the t jul! sum oJ ~he principol balance and interest then due.- ~ 8: The tenns "Mortgagor" and "Mortgagee" whenever used in this instrument shall inctude the heits, _ pasonal representatives, successors and assigns of the respective parties hereto. Wherever used the sinaular ~ number shatl inclnde the plural and thc plurat the singular. and the use of any gender shall inclode all genders. Sig d-. seale d v red in presence of: (Seal) . ~ ISeal) ~~c~ ~j . " zt~-x ~ ~ 1 _ t STATE OF FLORIDA I COUNTY OF QI~OC ( ss ~ ST. LUCIE ~ ~ Be[ore me personally appeared BOBBY LEE BAILEY and MARY ALICE BAILEY ~ his wife, ~ to me well known and known to me to be the i~ividuals described in and who executed the fore~oing instroment, and acknowledged before me that they executed the same [or the purposes there~n expressed. WITNESS my hend ~ ~ and official seal in the County and State Iast aforesaid this 14th Day of Deeember, 1974 . - p. _ : . . Hy C«nm~ss~on Expires: :;une 30, 1975 Notary Pnblic, State of _ ~ fItEQ ~Hl' ~ECOKDEO = , _ t" ' ~ ST. lUCti. COUN7Y f LA. _ : s : ti_ POG~r" Fu~~RAS ~ O' ' s ~ Ct~rK C.'CU17 COURT (~'~,(,1,~ - 'a~.,~ ~ RFC~'t . f'..-'t 4 ~ ~ ' * D:'-1,• . 3 10 54 AK'7~ o R ; ~ Z gooK 234 P~{~: 234~ : ~ 29'7'754 ~ tx¢,~~ ~ ~y,.~ - - - _ ~~~a - - _ _ r. _