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Home My WebLink About2553 f , ~ ~ Our file 5-32,997 tAu mo~tpEe w o~he~ uans(e~ of uUe 1u ~he mat~a~ed prope~ty m eaua~wsheeae~ u~ ~he ~ndtbitanesa ucwed he~eaY. +11 ~~~h~, a~le and ~ntereal o/ ~Ae Alw~{~{w ~n ~nd lo any ~nswance policus then ~n (ate xhall pass lo the purcAaser a~ran~et. (hl To ptf~MT, cwnply Wuh aad ab~de sy eacA •ed every 1he at~pulataons, ~~rsements, cond~t~ons and covenantx ~n s~~d prwn~~sorr nolt snd m ~hu deed se~ (o?tA. ) TAat ~t sny oi a~id suma ot nwney here~e re(er~ed to Ae no~ p~anp~lY snd fully pa~d xnhin t~(~een dsys neal a(ter the same severally becaees due an0 paYa~le,a ~f eacA snd everY tAe st~pulat~ons, a~teements, cond~~~ons and covtoan~s of s~~d ytouus• say note snd ~A~s deed, a e~ther~ ue not fu11Y pe~(orecd. compl~ed Wuh ~nd ap~ded by, ~he ~a~d a~re~a~e sum meeuoned ~n aaid pran~ssay note shall pecome due aed psyable (athW~iA or tAereafur at ~Ae opt~on of tht Nort~a~ee as fully and coaipletely as ~t tAt sa~d •~sre{ate sus o( said pron+issay note Was on~mally supul~led to be pud oo s~cA d~y. snytAm~ ~e s~~d praa~sswy note or here~n ~o ~he con~rsry not~r~~hs~aedm~. ) Tha~ ~n ordu to accelerate tAe mawniy o( tAt indebtedness Aereby aecured, becsuse of tAe (ailure ot tAt Mwt~a~a ~o psy any ~sr, asaecsment, lub~l~ty, obl~~at~on a encumbrance upon ss~d property, as here~n provided, ~t shall not be necescary ot redu~s~tt that tAc mart~a{ee shall fust pay tAe same. The !~lortgagee may, at his option. a~d withouC waiving his right to accelerate the indebtedness hereby secured and to foteclose the same, pay either before ot after delinquency any or all of those certain obligations roquired by the terms hereof to be paid by the Mortgagor fat the protection of the mortgage secutity or for tht col- ~ lection of the indebtedness he~eby secured. All sums so advanced or paid by the Mortgagee shall be charged into th~ mortgage accaunt and become an integral part thereof, subject in all respects to the terms, conditions. and covenants of the aforesaid promissory ~ote. and this mortgage. as fully and to the same extent as thoush a part of the ori~inal indebtedness evidenced by said note and secured by this mottgage. excepting however. that said sums shall be repaid the Mortgagee forthwith upon its demand and be in addition to the regular monthly install- ments provided by the mortgage note. 3. That the abstract or absuacts of title covering the mortgaged ptopetty shall at all times. during the life of this mortgage, remain in passession of the Mottgagee a~d in event of the foreclosure of this mortgaae or other transfet of title to the ,nwttgaged property in extin6uishment of the indebtedness secured hereby, all ri6ht. title and interest of thc Nurtgagor in and to any such absttacts ot title shall pass to the purchasec or grantee. 4. To the extent of the indebtedness of the Mortgagor to the Mortgagee described herein or secured hereby, - the Alortgagee is hereby subrogated to the lien ot liens a~d to the rights of the ownets and holders tbereof of each and every mortgage, liea or other incumbtance on the land dtscribed heteie 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 liena of said mortgages, liens oc other incumbtances, 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 desctibed or hereby secured, to the same extent that it would have been preserved and would have been passed to and been held by the !1lortgagee had it been duly and tegularly assigned. transferted, set over. and delivered unto tiie Mort- gagee by separate deed of assignm~nt, notwithstanding the fact that the same may be satisfied and cancelled of record, it be~ng the intention of the parties hereto that the same will be satisfied and cancelled of recotd by the holders thereof at or about the time of the recotdina of this mortgage. S. In the evant the ownership o[ the mortgaged premises. or any part thereof. becomes vested in a person other ihan the 4brtgaaor, the Nortgagee may, without notice to the Mortgaaor. deal with such successor or suc- cessors in interest with reference to this deed and the debt hereby secured, in the same manner as witt~ the hlott- gagor without in any way vitiating ot discharging the Mortgasor's liability hereunder or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the patt of the Mortgasee. and ~o ex- tension of the time for the payment of the debt hereby secuted given by the Mort6agee shall operate to release. discharge. modify, change or affect the original liability oE the Mottgaaot herein either in whole or in part. 6. The lien uf this deed secures and shall continue to secure payment of said indebtedness or indebted- noss, however evidenced. whether by said promissory note or any renewal or extension theceof or substitute there- ~ tor, or otherwise, until aU such indebtedness shall have been fully paid. - i 7. /n the event the mortgagors sell, convey or ~raresjer ~he mortgaged prernises during the iije oj this inort- ( gage, then this mo?cgage shall. at lhe option oj the Mortgagee herein, 6ecome inunediotely due and payable jor the Jull sum oj the principal balance and inlerest then due. ~ 8. The terms "Mortgagor" and "Mortgagee" whenever used in this insttument shall include the heirs. ~ personal representativ~~, successors and assigns ot' the respective parties heteto. Wherever used the singular - i number shall include the plural and the plural the singular. and the use ot any gender shall include all genders. F ~ Sig d, sealed a deli ~~n th presence of: (Seap ~ a • ~Seal) i ~ . ~ .cv,~ c.o ~ STATE OF FLORIDA ~ ~ COUNTY OFp~ j ss ST.LUCIE ~ Be(ore me pyrsonally aPpeared AR'THUR ~I. SHAFFER and LAURA K. SHAFFER,his wife, ~ ~o me well known and known to me to be the individuals described in and who executed the foregoing instrument, ~ and acknowledged before me that they executed the same for the purposes therein expressed. WITNESS my hand ~ and official seal in the County and State Iast aforesaid this 9t~1 D8y of August, 1.975 ; x ~1y Commission Expires: JLltl@ ~ 1979 Notary Public. Stale o(,•~``~ ~~•a ~ ~ :f'`% i ~ ST~IJ:•k C~U!+7Y F~A• ~ F~'i`:: "~~S ~T o~oy ~ i ~ ~.f~K~~4,~;~~~, 315(i3`7 ~ ~ ' ~ ~ . R ~ g 1,.: : ti, ~ 0~~'75 "~o•••---,~,,::o~:- tQ; p Auc 18 4 ~ ~~p _ gprR}K ~42 PAGE~555 , < X > 'f ~ . ~ - - ,;z 4~;~.~ ~ T'_~; r ~ - _ ~ ~`t=~-. , .