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Home My WebLink About1268 Our file 5-31,551 th„ mun~aKc ~K oihr~ tran.le~ ut utlc ~u ~he mw~ra~cd propc~~y m ciuntuiaAmcnt o~ thc ~~dcAteJnc,+ .c.wrd ~cun). ,,It n~ht. ~~tlo rnd ~n~e~est uf ~Ae Mu~~~a~or ~n and ta anv ~nsu~ance pul~c~es tAen ~n (urce .hall pa~s to ~he purch~~c~ u~ k~+n~ee. (A) T.~ prrl.am. ~:wnp1Y W~th •nd a~~de by eacA and every tAc supula~~oc~s, apeements. coodwon~ and cucen~n~. ~n .~~d prum~.aur~ note •nd m ~A~. dcrJ .et forth. (~t~ccn d~ys ne~t aUer 1 That d anY o( ~a~d sums ul moncy here~n refencd to be nut prumD~ly aed (u~~Y D~id ~~~hm ~he s~me st~erally be~omes due and paYa6le.ot ~f eacA and eve~y lhe s~~pul~uons. a~~eemrnts, ~undiuon~ and coven~nts o! sa~d prwnis- sory note and th~s deed, or euAe~, are not (ully performed, cMnD~~ed w~th and ab~ded Dy, ihe ,nd aK~re~ate sum menuoned m sa~d Mwmss~x~ nu~e shall become due and pay~ble forth~~~A a therea(ter at tAe op~ion of the ~iori~a~ee as (u11Y and compleuly as ~t Me sa~d a~pe~aie swa o! sa~d prnn+is~ory note wss ons~nallY supul~ted to be pa~d on such daY. aeytA~n~ ~n sa~d prom~saory note or here~o ! to ~Ae contrary notWnhstand~nE. 1 Tha~ ~n ade~ to acctlerau tAt ma~un~y of the ~ndebudness herebY ~ecwed, because ot tAe (a~lu~e o( ~he ~Iwtsa`or to pay sny u~, •s.e.sment, Iub~INy. ob~~i~~~o^ M encumbrance upon sa~d propeny, as herem p?ov~ded, shall not be necescary a repws~~e that the m«~RaRte shall hrst pay tAe same. ' 2. The \lottgagee may, at his opt~on, and without wa~v~ng his right to accelerate the indebtedness heteby i ~ecured and tu forecluse the same, pay either before or a~ter delinquency any or all of those certaio obligation~ required by the tetms heteof to be paid by the Mortgagor ior the ptotection of the mortgage security or for the col- lectian of the indebtedness hereby secured. All sums so advanced or paid by the !~lortgagee shall be chatged into ? the mortgage account anJ become an integral part theteof, subject in all respects to the terms, conditions, and ~ cavenants oG ihe af~~resa~d pr~~m~ssory note. and this mortgage, as fully and to the same extent as though a patt + of the original indebtedness evidenced by said nate and secured by this mortgage, excepting however. that said sums shail be tepaid the 111ortgagee forthwith upon its demand and be in addition to the regular monthly install- ments ptovided by the mortgage note. ' 3_ That the abstract or abstracts of title covering the mortgaged propetry shall at all times, duting the li[e ; of this martgage, remain in possession of the !~tortgagee and in event of the foreclosute of this mortgage or other ~ ttansfer oi utle to the martgaged property in extinguishm~nt of the indebtedness sccured heteby, all right, title and mterest o~ thc 1lortgagor in and to any such abstracts of title shal) pass to the purchaset or grantee. ' 4. To the extent o[ the ~ndebtedness of the Mortgagor to the Mortgagee describcd herein or secured hereby, ~ the ~lortgagee is hereb~~ subrogated to the tien or liens and to the rights of the 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 secured hereby. and the respective liens of said mortgages, liens or other incumbrances, shall be and the same and each of them hereby is presetved and shall pass to and be tield by the Alottgagee he~ein as security for the indebtedness to the Mortgagee herein desctibed or hereby secured, to the same extent that it ~ould have been preserved and would have been passed to and been E held by the ~lortgagee had it been duly and tegularly assigned, transfened, set ovet, and delivered unto the Mort- ; gagee by separate deed of assignment, notwithstanding the fact that the same may be satisfied and cancelled of record, it being the ~ntention of the parties hereto that the same will be satisfied and cancelled ot record by the holders thereof at or about the time of the recotding of this mottgage. 5. In the event the ownership o[ the mortgaged premises, ot any part thereof. becomes vested in a petson other than the ~lortgagor, the ~lortgagee may, without notice to the Mortgagor, deal with such successor or suc- cessors in interest with re[erence to this deed and the debt heteby secured, in the same manner as with the Mort- gagor without in any~ way vitiating or discharging the Alortgagor's liability hereunder or upon the debt hereby 'i secured. No sale of the premises hereby mortgaged and no forbearance on the part of the Mottgagee. and no ex- f tension o( the time for the payment of the debt hereby secured given by the Mortgagee shalt operato to release. j discharge, modi~y, change or a[fect the original liability of the Mortgagot herein either in whole or in part. r 6. The lien of this deed secutes and shali continue to secure payment of said indebtedness or indebted- ~ ~ ness, however evidenced, whether by said promissoty ~ote or any renewal or extension.thereof or substitute ece- ~ for, or otherw~se, until all such indebtedness shall have been [ully paid. ' 7. !n the evenr the mortgngo?s sell, convey or t?ansjer the mortgoged pre?nises during the lije oj this mo?t- 3 qage, then this mortgage shall, nt the option oJ the Mortgagee herein, become immediately due and payable Jor the ` Jull sum oj the principul balance and interest rhen due. i ~ 8. The terms "Mottgaaor" and "Mortgagee" whenever used in this instrument shall include the heirs, ~ ~ personal representativc~, successors and assigns of the respective pazties hereto. Wherever used the singular ; numbet shall include the plural and the plural the singular. and the use of any gender shall include all genders. S~ ned, sea live d in t presence of: (Seaq ~ , ~Scal) ~ ; ~ / T L,G Kc ~~l7LQ~~ ~ ~f ~ ~ STATE OF FLORIDA I COUNTY OF ~g ~ ~S ~ ST. LUCIE - ~efore me personally appeared GERALD B. TRACY and ORA N. TRACY, hiS Wife, to me well know~n and know•n to me to be the individuals described in and who executed the foregoing instrument, ~Y and acknowledged before me that they executed the same for the putposes there~n expressed. WITNESS my hand ~:=k and official seai in the County and State last aforesaid this 4th Day Of .T uary, 1975 ~ ~e ~ ti ~ June 30 1975 ~ ~1y Commission Expires: + Notary Public, State of FlOr~ _ ~$Q~~v,, i ~ ~ - I .X,.=]!~' , tl'/~~'.•'~ ~3 ~ f1lE~~ ~H--~~~~LA_ `~9 ' . C~?j ~R~~~:~ _ ~ ~ ST EL ~ ~~~T ~ ~ ~ ~ : . ~ - -:r-~ ;i ' ~AN y 44 ~+1~I' ~ U R . ~~~~~~3 PAGE1zs ~ ~ ~ _