HomeMy WebLinkAbout0213 our file ~5-38y052
i~~s wa~N/e w oiAsr innsfa of uik w ~M ~anp{e~ /rersr~y sau~~~~slw~~ o~ Me ~ndeO~sAeesa •s.wcd ~e~es~. •11 n{~~, una
- aw ~~~~~e~~ of Mt AAa~~yw ~M le ~ey ~~aw~~c~ pl~c~es ~A~~ facs s~~ll Ms~ te ~Ae ~wcA~se~ a ~ran~ee.
tA) To ~tflM~. cu~ply ~~IA ~M ~?~s ~y t~cA iN evs~y tUe ~t~wt~t~o~s. •{~es~s~u. ce~~UOSS sad cove~~~~s ~a i~~a oruw~asaY
•o~e ~nd tA~s Aee~ ssi /atA.
1 T1~1 ~f ~~y ef s~~1 sw~ ot wo~eY ~sreu tt/eneA le St eo~ otoM~ly aed fully N~ ~~th~n f~hesn Qsys eeat ~fier
U~e s~a~e seve~~lir lecowss !ue O~Y~sle.a ~t e~cA ~M e•~~r u~ s~~wl.i~on~. ~{~e~wsn~s. ceMd~t~oes ~s0 covee~n~s of s~?~ po~~s•
~erY ~e~s ~M ~~is d~eA. a t~tAe~. ut eW f~llr eerter*N. co~l~ed ~r~tA ~~0 a~~0ta !y, ~Ae ,~~d sqrc~~~e swu u~eeuoesl ~e s~~A
Orau~siar no~e sAali ?eew~t ~Ye ~~d oaYable (atA~~~A a ~Aere~fter •t tAe ooho~ of tAt Ma~~~{ee as fully and co~01eu11r ~s ~f tAe
s~~0 s~{~es~~e sw e( s~~d ~os~~.aY ~oit +~~s a~~~ea1tY ~uoul~ted 10 ?e O~~a ae src? O~Y. ~~y~~n~ ~n s~~1 ~ros~ssaY ~ou a Aer~~e
lo ~Ae eenu~ry net.ruhst~Muy. •
) Tlia~ ~n aAtr ~o scttler~~t ihe aytunty of ~~s ~~de0tednsss Aeteby setwe0. esc~~ae d ~~e fa~l~re of ~Ae Ma~{~~or ~o OaY ~ny ~aa.
ssre•a~eet, I~ss~l~ty, 0?1~{~t~on a~ enc~wM~ece uoon aa~0 Keper~y. as Aere~n Kov~aed. sAall not Oe ~t.es•ary a rcau~s~~e ih~~ ~he
wai~s~ee sA~ll (~rs~ Ny tAe sa~e.
The !Nort~a~ee may. at his optio~. snd without waivin~ his ti~ht to acceletate the indebtedness heteby ~
secured snd to foreclose the same, pay eithet before or sfler delinquency any or sll of those certa~n obli~at~ons
requued by the terms heteot to be paid by the Mott~a~or for 1he protection of the nx+tt~a~e security ot fot the col-
lection of the i~ebtedness heroby secuted. Ali sums so advanced ot pa~d by the Mort~a~ee shall be chat~ed into
the mon~a~e account and become an inte~ral part theroof. sub~ect in all respects to the terms, condu~ons, and ~
covenants o~ the afcxesaid promissoty nole. and this mott~a~e. as fully and to the same extent as thou~h a part
of the ori~~nal indebtedness ev~denced by said eote and securrd by this rtart~a~e, exceptin` however, that sa~d
sums shall be repaid the Mottsa~ee forthwith upon its demand snd be in addit~on to the re~ulat monthly ~nstsll-
ments provided by the mort~a~e note.
3. That the sbstract or abstracts of title covetin~ the mort~a~ed property shall at all times, durin~ the life
of this mart~a~e, remain in possess~on of the Mat~~~ee and in event of the foreclosure ot this mort~a~e or other
traosfet of utle to the mottfa~ed propetty in eatin~uishment of the indebtedness sec~ted hereby. all ti~ht. t~tle
and interest of tbe M~xt~a~or in snd to any such absascts of title shall pass to the purchaset or =rantee.
. To the extent of the mdebtedness of the Mon~a~ot to the Mortsa~ee described hecein or secwed heceby,
the Mon~a~ee ~s hereby subto~ated to the lien ot lieos ~nd to the ri~hts ot the owners and holder: thereot of each -
and every mort~a~e, lien ot othet incutnbtance on the land desctibed herein which is paid ~tnd!ot satislied. in
whole or in part, out of the proceeds of the loan desc~ibed herein ot secu~ed hereby. and the respective liees of
said mort~a~es. liens or other incumbn~ces, shall be and the same and each of them hereby-is preserved and shall
pacs to and be held by the Mortsa~ee heroin as :ecutity for the indebtedness to the Mort~a:ee herein desc~ibed
or hereby sscured, to the same extent that it would have been preserved and would hive been passed to snd been
held by che Nort~a~ee hsd it beea duly and re~ularly assi~ned. uansfened. set over. and delivered unto the Mort- ;
~a~ee by separate deed of sssi~nment. notwithstandin~ the fict that the same may be satisf~ed and cancelled of
tecord. it be~n~ the intent~on of the patties hereto that the same will be satisfied and cancelled of record by the
holders thereof at or-about the time of the tecordin~ ot this mort~ye.
S. In the event the ownersfiip oi the mott~s~ed premises, a any part theteof. becomes vested in a person
other than the Mort~a~or. the ~lort~ajee may, without notice -to the Mort~a~or. deal with such successor or suc-
cessors in interest with reference to this deed and the debt hereby secured. in. the same manner as with the A1ort- -
~s~or without in any way vit~atin~ or dischat~in~ the Mort~a~ot's liability hereunder or upon the debt hereby ~
secured. No sale of the premises hereby mort~a~ed and no forbeuance on the put of the Mort~a~ee, and no ex- ;
teosion of the time for the psyment of the debt hereby secured ~iven by. the Mort~a~ee shall operate to release,
d~schar~e. modify, chan~e or affect the ori~~nal liability of the !Nortfa=or herein e~ther ~n whole ot in put. .
6. The liea of this deed secutes and shall continue to secute -payment of said indebtedness or ~ndebted-
ness. however ev~denced, whethet by ssid proteissory note ot any tenewal or extens~on thereof or subat~tute thete-
I (or. or othecw~se, until all such indebtednecs shall have been fully paid.
; 7. /n the event the rnortsajas sell~ convey or traesJer tht neort~a~ed pren~ises during the lije oj thir inort-
( sa~e, then this ~no?tso~e shall. at tbe oprion oJ the Aforrgosee he.ein. btcon~e inun~diattly due and poyable jor the
jull su,s oj the pnncipal balance ond interest then due.
i E. The terms "Mott~a~ot" and "Mort~a~ee" when~ver used in th~s instrument shall ~nclude the he~rs.
~ personal tepresentativ~s. successots and assisns of the respective puties hereto: Whereve~ used the s~n~ulsr
E number shal! inclnde the plural and the plural the sin~ular. and the use of aey ~ender shall include all ~enders.
~
~ ned. sealed and li ered ~n e presence of: ~ ~ (Seal)
6' ~Seal)
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STATE OF FLOttIDA ~
COUN~~F~ ~ ss
eetore me per:onally appeared JONN R. SCRUGGS ~ JR, and MARY E. SCRUGGS ~ his wife,
~ to me well known and known to me to be the individusls desetibed in and who executed the fote~oin~ ~nstrument.
~ and acknowled~ed befae me that they executed the same for the purDases there~n expressed. WITNESS my hand
m snd off~cial seal ~e the County and State last afaesaid this 22t1d DAy of July, 1977.
~ '
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tt ~ . r~ ~
~ly Canmis:ion Expires: JutlE 30, 1979 Notary Public. State of ;~~O~~i~~i~
~Y
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