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HomeMy WebLinkAbout0402 Our File 5-42,030-7 tA.: miwfRage ur other ttanstr~ of Ii11e tn tht morlgagcJ prupr~ly io ealinYuishment of Ihr irnfebtednrss srcurrJ herr~y, aU rq~hl, litk and (ntetest ot the Mort~s~ur in am1 to yny insursnce pulkirs thrn in tu~ce shsll psss to the putchaxt or `tanlre. (h)Tu perfurm, comply wilh and aEide Ay rxch anJ evrry thr stipulalions, a~t~emrnts, cunJitwins anJ cuvrnants in ssid promissoty rwte snd in lhis Jred sel fotth. (i) fhal it any o( ssid sums of munry here~n retarrrJ tu t~ ixN promplly anJ fully paiJ within fi(trrn days nr~t aftrr thr samr sr~erally becomes due and payabk, or if eacA and every the stipulatiuns, a~rtrmrnts, condNions and covrnants said pn~m~~+ory nott and thii desd, or eilher, are not fully perfo~med, romplird ~vilh and abidrd by, the saW ag`re~ate sum mentioned in said prom~ccorY nole:hall ~e- come due and payabl~ forthwith or lhertafta at ~hr option of the Aiortgagee as tull~ and mmpletaly ss it the ~id ae`rrpte sum oi sai~} promissory note was or~gma0y slipulattd ~n Ae paiJ on auch ~y,anything in said prnmisxxy rwte or hert~o l01ha contrary notwithstandina. (j) Thsl in urder lo accelerate Ihe matutily u[ Ihr indrbtrdnrss hrroby scruted, Aeouu ot lhe failure of Ihe Motttagot tu p~y any lat, assessmrnt, liability, ubligatiu~ ur ancun~Arance upon saiJ pt<~prrty, as hereie providrJ, it shaU not be necassary o~ reyuisite Ihat Ihe murtgagee sha0 first pay the same. 2. The Mortpgce may. at his option, and without waiving his right to accelente fhe indebtedt~ hereby secured and to (oreclose the same, pay either before o~ after deliquency any or all of those certain obligations required by the terms hereof to be paid by the Mortgagor for the protection of the mortg,age security or for the coUection oi the indebtedness hereby secured. AO sums so adva~ced ot paid by the Mortgagee shall be charged into the mottgage account and become an integral paK thereof, subject in all respects to the terms, conditions, and covenants of the aforesaid promissory note, and this mortgage, ac fully and to the same extent as though a part ot the original indebtedness evidenced by said note and secured by this mortgage, excepting howev~er, that said sums shall be repaid the Mortgagee foKhwith upon its demand and be in addition to the regular monthly instaUments provided by the mortgage note. 3. Thst the abstract or abstracts of titk rnvering the mortgaged property shall at aU times, during the Gfe of this mortgage, oemain in possession of the Mortgagee and in event of tbe foreclosure of this mortgage or other transfer of title to ihe mortgaged property in exti~guishment of the indebtedness secured hereby, aU ri~g,ht. titk and interest of the Mortg,sgor in and to any such abstracts of title shall pass to the purchaser ar Btantee. 4. To the extent of the indebtedness of the Mortpgor to the Mottgagee described herein or secured hereby, the Mortg,agee is hereby subrogated to-the lien ur liens and to the rights of the owners and holders thereof ot each and every mortgage. Gen or other incumbrance on the land described herein which is paid and/or satisfied, in whole or irt part~ oat of the proceeds of the laan described herein or secured hereby, and the respectiv~e liens of said mortgages, liens or other incum- brances, shatl be and the same and each of them her~eby is pneserved and sha!! pass to and be held by the Mortgagee herein u security for the indebtedr+ess to the Mortgagee herrin described or hereby secured, to the same extent that it would have been . preserved and would hav+e been passe~ to and been held by the Mortgagee had it been duly and regularly sssigned, trans- ferred, set over. and deGvered uato the Mortgagee by separate deed of acsignment~ notwithstanding the fact that the same ~ may be satisfied and cancelled of record, it being the intention of the parties heceto that the same will be satisfied and can- celled of record by the holders thereof at or about the time of the recording of this mortgage. S. In the event the ownership of the mortgaged premises, or any part thereof, bernmes vested in s person other than the Mortgagor, the Mortg~gee may, without notice to the Mortgagor, deal with such sucoessor or successors in interest witb reference to this deed and the debt hereby secured, in ihe same mannet as with the Mortpgor without in any way vitiating or discharging the Mortgagor's liability herrunder or upon the debt hereby secured. No sale of the premises hereby mortgaged and ~o forbearance oa the part of the Mortgagee, and no extension of the time for the payment of the debt hereby secured given by the Mortg,aget shall operate to release, discharge, modify, change or atiect the original liability of the Mortgagor herein either in whok or in part. ~ 6. The lien of this deed secures and shall rnntinue to secure paymeRt of said indebtedness or indebtedness, hovrever evidenced, whether by said promissory note or any renewal or extension thereof or substitute therefor, or otherwise, unt~7 atl such indebtedness shatl have been fully paid. - 7. In the event the mortgagors scU, co~ivey or tmns~er the mor~gr~ged p~emises during the lije of this mortgage, then this mortgoge shall, at the optivn oj the Mortgagee herein, become rmmediately due and payable for the jull sum oj the principol balance and inte~est the~r due. 8. ?he terms "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the heirs, personal repre- sentatives, sueeessors and ascigns of the respective parties hereto. Wherever used the singular umber shap include the plural and t e plural the singuJu, and the use of any gender shall include all genders. S' d i e presence of: (Seal) STATE OF FLORIDA ~ coUNTYO RAYMOND F. SNYDER and KATHLEEN A, SNYDER, his wife, Before me person ~t. Lu ~ye~~d formerly known as KATHLEEN A. McMANUS to me well known and known ta me to be the individuals described in and who executed the foregoing instrument, and sdcnowledged before me t6at they executed the same for the purposes therein expressed. V11tTNESS my hsnd and oft~cial seal in the County and State Isst aforesaid this 17th d8y of July, 1978. ~ = ~ My Commission ExPires: -Tune ~n ~ 1979 Notary PubG vt' " - c~;pRi'•` ' _ f1:E~3~a~ C~UNTY F:a ~ - ,-i. - 5t t1~- ;~;-q~5 ~ ~ ' r ~_;T ~~_1~1 . • _ ~ ' 2~ ~ ~ ~N ~'r ~OCNC ~ii~, P~GE ~V~. , _ _ . _ _ - - _ - ~ _ - 6.:~- ~ ~ ~ ~ fK . y'~~',:1 ,~.,Y>'V.'