HomeMy WebLinkAbout0129 . Our I~'i2e 5-35, i69
~A~a wori~~{e w uiAei ~nnslt~ ol t~~ie tu ~ht sott~~~ed propti~y ~n eu~n~wiAr~m u~ ~~e ~nOeD~cdnesa ~e.~~~d 1+eree~. all u~~~. n~le
and ~e~e~e~~ of ~At ~10~~~~~w ~n and ~o any miw~nce pol~c~es ~Aen ~n (o~ct sMU psss lo ~he pu~cA~ser w~~~n~ee.
(h) To perlrnm, ~wnaiy r~~A •nd al~de sy tacA •nd evay tAe sl~pulal~ons. a~reemen?s. cond~~~ona •n0 covenam• in s.~~ pr„~,~,o~y
no~t and ~n iA„ deed ~e~ Ia~A.
!i t TAat d~*y o~ ~a~0 sur+!a of .wo~ry Rere~n relerred ~o De no~ p~anp~lv •od 1u11Y pa~d ~~tA~n (~Iletn Qays ne~t allt~
~As ssme severally secanes due and p~Y~sle.a eacA ~nd everY ~he st~pul~i~oes. at~eee+en~s. .onduwna snd corcn~nts o! s~~d p~o~~s-
say notc and tA~s Oeed. o~ e~~Aer, are no~ (u11Y P~rlamed. compl~ed W~?A and a6~ded the ,a~d a«re~stc sun~ ment~oned in aa~A
p~ewnissw~ note s~all ~tcane due snd paYasle fatA.~~~ or ~Aere~t~er ~Ae op~~on o( ~Ae No~~~a~ec ss (ully and completelY as ~f ~Ae
sa~d a~~re~a~e s~m ol aa~d p~a*~aaorY ~oie ~.~s a~~~nally supul~ud ~o be pa~d on aucA d~y, an~iA~n~ m ta~d pan~ssory no~e a Aere~n
to tht conltary nolruhstandm~.
1 Tha~ ~n ader ~o acceler~~e ~Ae ma~ur~~y ot tAe ~ndebtedness AereDy secwed. eecause of ?Ae (ailure ot ~he \1a~~s~o~ io paY any ~a~,
•ssecsmen~, I~ab~lUy. obl~~ation ~r encumArsnce upon sa~A prnpeny. ~s Aere~n pro~~ded. shall not ~e ne.eseary a rtQu~s~u th~~ ~Ae
esun~a~ec sAall lus~ pay tAt same.
The \lortgaeee may, at h~s opt~on, and v?~thout wa~~•~n~ his ri~ht to acceterste the ~ndebtedness hereby
~ecured and tu foreclu~e the same, pay e~thet before o~ after del~nQuency any ot ail af those cetta~n obl~~at~ons
tequ~red bY the terms hereof to he pa~d by the ~tortta~ot for the protection of the me?rtga~e security or for the col-
Icct~on of the ~ndebtedness heteby secured. All sums so advanced or pa~d by the ~lortga6ee shall be chat`ed into
the mMtgage acc~unt anJ become an inteRtal part thereof, sub~ect ~n all respects to the tetms, co~d~t~ons, and
covenants of ihe aforesaid promissor~• note, and th~s mortgage, as fully and to the same extent as thou~h a part
o[ the ori6inal ~ndebtedness ev~denced by said note and secured by th~s mortgage, except~ng howevet, that sa~d ~
sums shail be repa~d the !1lortga~ee forthw~th upon ~ts demand and be in add~uon !o the tegulat monthly ~nstall-
ments provided by the mortgage note.
3. That the abstract or abstracts of utle covering the m~rtgaged property shall at ail times, dunna the life
of th~c mortgage, rema~n ~n possess~on of the '~lortga6ee and in event of the foreclosut~ of this mortEase ot other
transfer of title to ~he mnrtgagcd propecty in ~xun`wshment of the ~ndebtedness sec~ted hereby, all nsht, utle
and ~n~erect of the ~lurtgagor ~n and to any such abstracts of title shall pass to the purchaser or ~rantee.
To the extent of the ~ndebtedness of the Martga~or to the Mort6a~ee described here~n or secured hereby.
the ~tortgagec is hereby subrosated to the I~en or liens and to the nghts of the ~wners and holders thereot o( each
and every mortgage, lien ot other ~ncumbrance on the land descnbed here~n which is paid s~nd'or satisfied. ~n
whole or ~n part, out of the proceeds of the loan described herein or secured heteby, and the respettive liens of
.a~d mortEages. liens ar other incumbtances, shall be and the same and each of them hereby is preserved and shall
~ac~ to and he held by the ~1ort6agee here~n as secur~ty for the indebtedness to the ~lortgagee herein descnbed
or hrreby ~rcured, to the same extent that ~t would have been presetved and would have been passed to and been
held by the ~1~rtgagee had it been duly and re~ulatly ass~6ned, transfened. set ovet, ~nd del~veted unto the Mort-
gagee b}• separate deed o! ascignment, notwithstanding the fact that the same may be sat~sf~ed and cancelled o(
record, it be~ng thr ~ntent~on of the parties hertto that tht same will br satisf~ed and cancelled of recotd by tfit
holders thcreof at or about the t~me of the recordin` of th~s mort~a~e.
5_ In the event the ownership of the mort`aged prem~ses, ot any pact thereof, becomes vested in a person
other than the ~lortga~or, the ~1ort~a=ee may, w~thout notice to the Mortgaao~, deal with such successot ot suc-
cecsors in intercst w~th teference to this deed and the debt hereby secuted, in the same+mannet as with the Mort-
ga~or w•~thout in any way vit~at~ng or d~scharging the Alortaa`or's liab~lity heceundcr or upon the debt hereby
j secured. No sale ~f the prem~ses hereby mortEated and no forbearance on the patt of the '.Nort~a~ee. and no ex-
~ tens~on of the t~me (or the payment of the debt hereby secured ~iven by the Nort~agee shall operate to release,
; discharge, mod~fy, chan~e or affect the or~g~nal I~ab~lity of the Nort~a~or here~n either in whole or in part.
i 6. The I~en of th~s deed secures and shall cont~nuc to secure payment of said ~ndebtedness or ~ndebted-
; ness, however evidenced, whether by said promissory note or any renewal or extens~on thereof or subsutute there-
~ for, or otherw~se, unt~l all such ~ndebtedness shall have been fully pa~d.
i 7. /n ri~e event the mortgagors s~ll, convey or honsjer th~ mo?~gagtd prernrses da?ing the IiJe oJ ehis mo?t-
~ AaAe. ~hen th~s mo~tgoge sholl. al the op?~on oJ tht ~fo?fRoget he?ein, becon~e ~rnmediutely dut and paya6ft Jor the
, Jult su~n oj ~he pr~~c~paJ balance and ~n~t?tst thtn dut. i
8. The tcrms "Mortta6or" and "Nortgagee" whenever used ~n thic ~nstrument shall includc the he~rs,
~ personal representativcs, successors and ass~~ns of the respective parties hereto. Wherever used the s~ngular
number shall ~nclude the plu~al and the plurat the singular, and the use of any gender shall ~nclude all aenders.
~
~ S ned, seale nd el~v rtd i the presence of: ~iLsi~~~e~• (Seal)
~ ~.L f-{~~~~lr f(~cc~-t 1~~~_ ~SeaI1 ~
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STATE OF FLORIDA ~
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' COl11~TY OF;,~,~C i ss
S"1 . LUC:1G
Before me Personally appeared EKNEST DAVIDSON attd JEROLEAN DAVIDSON~ his wife, ~
~ to me well known and known to me to be the ~ndividuals desctibed in and who ezecuted the fore6oing ~nstrument, ;
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and acknowledged before me that they eaecuted the same for the purposes there~n exprcssed. WIThESS my hand ;
~ and offic~al seal rn the County and State last aforesa~d this 18th Day of September, 1976 j
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~ ~1y Commiss~on Exp~res: Jutte 30, 1979 Notary Publ.i~,1•~tele:of~~
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