HomeMy WebLinkAbout0345 our file ~~5-40,838-5
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~u~~rl~.~,:rr .h.~ll I~n1 p.~~ tl~r vu~r '
3. The ~1orl~gtti ma~•, a1 hi, optiun, and ~~itl~uut ~~:ii~ine hi. ri~ht to arccle~alr t4c indeblcdnc.. t~crcb~ .rcurcd
a~~d to fonclu,c thc wmc. ~wy cithcr befum ur aftrr dcliyurncy any ur all ~~f tho,r cYnain uhli~;ation. nquimd b~~ thc tcrm.
hcrcof u? bc paid by thc ~lorlkagor for d~c pn?t~YtN~n of thr mortZ;age Krurit~~ ~?r fo~ Ihc cullrrtiun the indrbtidnr..
hereby .erumJ. :~II ~unu ~o ad~anced or ~~id by Ihe ~turt~g~~ ~haS~ he charged intu thr murtgage accuunl and heru~uc an
integral part thereo(, subjerl in all r~pc~ts tu 1he ~crm., rundilium. and co~enant. ~?f the afom.aiJ prumi~,urr notc. and thi.
murtgage. ati fully and to the wme extenf ac Ih~?ugt~ a pari uf the origia~l indchtedne+. e~iden~~cd b}~ .aid »r,t~ anJ u rured h~
this murtgage, excepting howc~e~, that .aid sun~. shall tx ~ep:~id the ~turl~agrr forthHith u+~un it, dcro~nJ anJ tx in adJitiun
to the regul~r ntonthlf~ in.t~ll~ne~~t. pruvideil by the murtg.~~c n~~te.
3. Tha1 the abstract or ab~ttacts of title covering the niurtg~ged prupert~~ J~all at aQ time., during the life uf Ihi~
murtgage, mmain in pc»~et.ioq of the !~lortgagee and in eve~it of the fumclo~ure e?f thi. mortgage ur uther tr.~n.fer of title t~~
the mortg~ged property in e~tinguishmcnt of the indebteJnr+. ,ecurrd herehy, all ~ight, tiUe and intercht of ~I?e ~1nrlgagor in
and to any such abstracts of titlc ~hall pact to thc purcha~cr or gr.~nter.
' J. To the c~tent of the indebtednt~~ uf thc 1lortg•rgor to thr ~tortgag~~ dexribcd hercin ur ,rcurc~l hereby, thc
Nortgagee is hereby subrogated to the lien o~ tiem and to the right~ uf the owncn and holden d~en~~f uf rarh and c~cry
mortgage, tien or other incumbrance on the land dc~.cribei! herein which i. paiJ anJ,•'or wti+fied, in Hhule ur in part, uut ~~f
the promeds oi the luan de.x ribed herein ~~r srcured hereby, and the resperti~e licns of said murtgagc~, licm or uthrr inrtnn-
brances, shall be and the same and each of thrm hereby is preten•ed and ~hall pass to and he hrld b}- the ~1ort~gee herrin a.
securit~• for the ind~btedne~c to ihe Murtgagee herein descrihed or hereby secumd, to the ~me cxtent that it Haidd ha~e F?een
presen•ed and would ha~e becn pa~s~d to and been held by the ~tortkagee h:ad it been duly and mgularly a.~igncd, trrm- .
fetrecl, set o~~er, and deli~~ered unto the Nortgagee by separate deed of a~.ignment, notwith~tanding .the fact that the ,ame
may be satisfied and cancelled of recurd, it being the intention of the parties hereto that the ~me NiI) t/( V9~I~~It'(I JDt~ LJtI-
celled of record by the hulden ihere~~f at or about tt~ timc of thr recording c~i this mortgage.
5, tn the e~•ent the ownent~ip of the mortgaged premi~es, i?r any part thereof, becumrs rested in a pcraon vther than
the ~tortgagor, the 1lortgagee may, w~ithout notiee tv the Nortgagor, deal with wch ~uccrssor nr succes~~n in intere~t with
referenm to this deed and the debt hereby ~ecured, in the same m3nner a~ with the ~lurte,auur v?ithout in any v?av vitiating or
discharging the ~lortgagor's liability hereunder ur upon the debt hereh~~ secured. No sale ~~f the premi~.~ hereb~• mortgaged
and ~tt~ forbearance on the part of the ~tortgagee, and no e~tensiun uf the time for the payment uf the debt hereh~• tiecured
gi~•en by the Nortgagee shall operate to rrlea~c, di~chargc, modify, d~ange ur affert the originai liabitity ~~f thr ~tortga,or
herein either in whole or in part. ~
6. The (ien of fhis deed ~ecure~ .uid shall cantinue tu ~ecure pa}•ment of said indebtedne.. ur indebtednr~., ho~vr~cr
e~idenced, vrhether by sa+d promiscon~ notr or am~ renewa! or e~tension thrreof or tii~Mtitute therefor, or ~?therwi.e. until all
such indebtednew> ~ha!! ha~e been fulh~ p•rid.
7. hr tltr rre~?r~ ?lrc ~?r~~rtt<<t~m sr/!. e~nin•e~r ~~r tru~t~lrr IJ~~~ ntnrtY~;<•e!/,re•nli~~~~ ~/tennt lhr lr1:-~~/1lri~ ntr~rt~~J~~•. th~vt
tltis rrti,r~,~qKe~ cltull. ut rlrr ~~pN~~n N?r .1lr,rlt~~ci• l~i•r~•i~r, h~y~,»?rr int?nr~liutrlr ~/~~e~ u~t~l~k~ruhlr l~~r ~/ir /i~!! ~n!u ~~1 ~hr
prin~~iput hu/u~r~~c• artcl trNc~rest 1hi~n
ti. The termc "~turtgagor" and "~tortgagee" whene.rr used in thi. instrument,hall incluJe thc licir.. pcra~n~l repre-
sentati~•e~, succe,~on and at~igns of the rexpecti~e p.utie~ hereto. W"here~er uted Ihe ~ingutar numher d~ali inriude thr plural
and the plural the.ingular, and the use uf an~~ gcncler .hall indude all genden.
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Sig , sealed an deli~- he pr nce of: ' ' ~ ~ ~ '
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1 Seal l
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STATE OF FLORIU:~ I
COUNTY O~~_ 1 ~IE .
Befc~re me per.LiU ly appeared RAyMOND B. VENCILL artd JOY J. ~~ENCILL ~ his wife
to me w~ell known and known to me tu 1~ the indi~idi4~l. de.cribed in anJ wh~? e~ecuted the f~~re,uii~g in>trument. and
acknowledged before me that they executed the v~me f~~r the purpcne. therein e~prettied. N'ITNFSS m~` hand :~nd ~?(fici:,l >eal
in the C~?unty and State last aforeviiJ this 17tI1. day of Mareh~ 1978.
Ny Commia~ion Expire~: June 3O , 197 9. ~'7~7~0 tiotary E'~~blj~. State ~~f rge
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