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HomeMy WebLinkAbout0308 Our file 5-31,505 ih~+ murl~agc ~w uthri uanstr~ ul utle tu ~Ae munra~ed poperty m eiunro~ahmeM W the ~ndenudnec+ .e~wrJ ~r~e~). .+11 n~th~, ~~ele and ~n~ere.~ u( ~Ae \1or~rat~r ~n ~nd ~o ~nv ~nsutance pul~c~es tAee ~n (wte sA~ll pa~s tu ~he pu~cAaac~ ~raniee. lhl Tu prr!wm. ..rr~p1Y ~~th •od ab~dc by esch pnd every the shpulalions. a~rcements, cond~Uons and coven~nt. m?ud p~um~~~wy na?e rnd ~n ihi. Jeed .et fo~tA. 1 7ha~ anY o( ~a~d sum~ ul rtwney hert~n ~e(etrrd to oe nut promptlY antl lully pa~d ~~~~u~ tiftcen t.aYs :~txt alttr the same severallY becomes Jue anA paYable,a each and every the s~~pulauons, atrcemen~~, cnod~uoeti and coven~n~s ot sa~d prom~s- say note and tAia deed, or e~ther, are not fully pe~tamed, comD~~ed ~r~th and ab~ded by, ~Ae +~~d agt~ei+~e sum menuoned ~n sa~d promissay note shali becaae due and Dayablt fotthruh or ~herea(ter a~ the op~~~n ot ~he \/or~~a6ee as tully and completely as d the sa~d a«tc~a~e sum o( sa~d prom~c~w) note was on~~nallY supuiated to be pa~d on sucA d~y, anyth~n~ ~o s~~d pramssorY ~ote or Aere~n tu the contrsry not~~thsund~nE. 1 That ~n o?der io accelera~e ihe m~wn~y u( the inJebted~ess hereby secured, because ut the tailure ot ~he \lortta`ui ~o paY aoy u~. ~ •s.e.sment, I~ab~hty, obl~quun or encumbrance u{+on said p~~perty, as herem prov~ded, i~ shall not be neces~ary a requ~sue that ~he mwtsa~ee shall f~rst pay the sarne. 2. The \tottgagee may, at his opt~on, and without waiving his right to accelerate the indebtedness hereby secured and t~~ forecluse the same, pay either before or after delinquency any or all of those certain obligations requ~red by the terms heteof to be paid by the ~lortgagot for the protection of the mortgage security or fot the col- ; lection of the indebtedness hereby secured. All sums so advanceJ or paid by the 4Mrtgagee shall be chatged into f thz mortgage account anJ become a~ integral part thereof, subject in all respects to the terms, conditions, and s c~~venants oG the aforesaid pmm~ssor} note, and this mortgage, as fully and to the same extent as though a part ~ of the ariginal indebtedness evidenced by said note and secured by this mortgagc, excepting however. that sa~d } sums shall be repaid the Alortgagee (orthwith upon its demand and be in addition to the tegulat monthly install- ~ ments prov~ded by the mortgage note. ~ 3. That the abstract or abstracts of title covering the mortgaged property shall at all times. during the life ~~f this mortgage, remain in possession oi the Alottgagee and in event of the foreclosute of this mortgage or other transfer of title to the mortgaged propetty in extinguishment ot the indebtedness secuted heteby, all right, title and interect of the ~iurtgagor ~n and to any such abstracts of title shaU pass to the putchaset or grantee. To the extent of the indebtedness of the Mortgagor to the Mortgagee described herein or secured hereby, the ~tortgagee is hereby subrogated to the lien or liens and to the rights of the owners and holders thereot of each _ and every mortgage, I~en 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 ot i said mortgages, lie~s or other ~ncumbrances, 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, to the same extent that it would have been preserved and would have been passed to and been held by the ~lortgagee had it bee~ duly and regularly assigned. trans~erred, set over. and delivered unto t6e Mort- ~ gagee by separate deed of assignment. notwithstanding the fact that the same may be satisfied and cancelled of record, it being the ~ntent~on of the patties hereto that the same will be satisfied and cancelled of record by the ~ holders thercof at or about the t~me 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 than the ~lottgagor, the ~lortgagee may, without notice to the Mortgagor, deal with such successor or suo- cessors in interest ~ith reference to this deed and the debt hereby secuced, in the same manner as with the Mort- gagor without in any way vitiating or discharging the Mottgagor's liability hereunder or upon the debt hereby ~ secured. No sale of the premises heteby mortgaged and no [otbearance on the part of the Mortgagee. and no ez- F tension 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 otiginal liability of the Mortgagor herein either in whole or in part. ~ ~ 6. The lien of this deed secures and shall continue to secure payment o[ said indebtedness or indebted- ~ E ness. however evidenccd, whether by said promissory note or any renewal or extension thereof or substitute there- l ~ for, ot otherw~se, until all such indebtedness shall have been [ully paid. ; i 7. !n the eti~ent the mortgogo?s sell, convey or ~ransjer the mo~tgaged p?emises during the Iije oj this mort• ` R gage, rhen this mo~tgage sha!!, at the option oJ the Mortgagee herein, 6ecome immediQtely due and payable Jor the ; Jull sum oJ the prtncipa! balance artd interest /hen due. ? 8. The tetms "Mortgagor" and "Mottgagee" whenever used in thic insttument shall include the heirs. ' ~ petsonal representativ~;. successors and assigns of the respective parties hereto. Whetevet used the singular ~ number shall include the plural and the plural the singular, and the use of any gender shall include all genders. ~ ~ Signed, s led and de ~ re in th esence of: - (Seal) ~ ~Se aU ~ ~ - ~ a STATE OF FLORIDA ~ ~ SS ~ COUNTY OF~}I~K ; ST•Be oreCmeEpersonally appeared CHARLES B. ELLETT attd MILDRED L. ELLETT, his wife, ~ : c , = to me well known and known to me to be the individuals described m and who executed the ioregoing instrument. ; ~rf and acknowledged before me that they executed the same for the purposes thotein expressed. WITNESS my hand and official seal in the County and State last afotesaid this 21st Day of Deeemb~r, 1974. ' • - _ ~ , ~ ~ -L ~ _ % _ ' r.- L • ~ ~1y Commission Expires: Jut~e 30, 1975 {Votary Public, S~ies~ F r~dg~'• r e ~r~ _ Q : . • ~ _ _ : - : o _ 1 EO ',ti: ~t= C;:RJEO t ~ n~ ~ $7~~~~:' ;:,J4T'f flA. i ;;0: } ~ ~ k., ~ ~ J R -~rt~~~~ ; ~...5~ C;~ qc (`G,i v: . ~r~~•~~. ' ; v :~=i~ ~ 3 i ~6 aM' ~ y o~?35 307 } ~ ` s~e~ F~' _ _ - ~ ~ ~'S,r , . . . _ . . . .