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HomeMy WebLinkAbout1722 Our File 5-43,755-8 this m++rtttaat or other Iranstar of title to the m+xtraNed property in aslirtfuisAmenl ut the indehtad++e~s srrurad heraby, aN riNhl, title and interest of the MortiaXur in and te+ anY insurance policies Than in force ahaN pass to the purchaser rK Rrantee. (h)'fu perform, a+mply with and abide by arch and every the stipulatk+ns, asrernrants, rondilk+ns newt n+venants in sake pa+miswry note and in this dyed sat forth. (i) Thal it any of saki sums of money herein rtfetred to l+e r+nl promptly and fully pail w'nhin fifteen Jays near after the same severally becomes Jut and paYahk. or d each and curry the alipulatk+ns, a~rtemams, cvndiriuns and a+vr+wnts of viJ prumisvorY pore and rhis decd, or either, are not fully Performed, a+mplied with and abided by. the said aartywta sum mrntK+ned in sail pn+misv+ry n<+tr shall be- come dot and payable forthwith or thereafter al lht :+plk+n of the M.+rtNasee as fully and a+mpletrly as if the grid aaKre~ate sum of ca id promiswry note wasoriNinallY slipubted to be paid on surd daY.anYrhir+R in saW promisx+ry note or herein u+ the cs+ntrary M+twilhst-rmlinN. I (j) That in order to accelerate the maturity of Ihr indebtedness hereby secured, because of the failure of the Murt`a~or to pay anY lax, assessment, liability, obGption or encumbrance up+n said property, as hcrrin~ provided, it shall n.N hr necessary or requisite that the mort`agee shah Cost pay the same. 2. The Mortg/gee may, at his option. and without waiving his right to accelerate the indebtedness hereby secured and to foreclose the same. pay either betorc or after ddiquency any or all of those certain obligations requited by the terms hereof to be paid by the Mortgagor for the protection of the mortgAge security or for the collect aecounthand bernme~a hereby secured. AU sums so advanced or paid by the Mortgagee shall be charged into the mtxtgage integral part thereof, subject in ap respects to the ferrets, conditions. and covenants of the aforesaid promissory note, and this mortgpge, as fully and to the same extent as though a part of the original indebtedness evidenced by said note and secured by this mortgage. excepting however. that said scans shall be repaid the Mortgagee forthwith upon its demand and be in addition ~ to the regular monthly installments provided by the mortgage cote. f 3. That the sbstrad or abstrads of title covering the mortgaged prop~Y at all times, during the 6fe of tha mortgage. remain in possession of the Mortgagee sad in event of the foreclosure of this mortgage or other transfer of title to the mortgaged property is ext6nguishment of the indebtedness secured hereby. aU'right, title and interest of the Mortgagor is ; and to ray such abstracts of title shall pass to the purchaser or grantee. 4. To We extent of the indebtedness of the Mortgagor to the Mortgagee described herein or secured be~Y. the Mortgagee is hereby subrogpted to the (iea or liens and to the rights of the ovimers and holders~thereof of each and every irtortgagp, lien or other incumbrance on the land described herein which is paM and/or satisfied, in whole or in part, out of the proceeds of the loan described herein or secured hereby, and the respective liens of said mortgages, liens or other iacum- ~rantxs, shall be and the same and each of them hereby is preserved and shall pass to and be held by the Mortgages herein as security for the indebtedness to the Mortgagce herein described or hereby secured. to the same extent that it would have been preserved and would have been posed to and been held by the Mortgagee had.it been duly and regularly assigned, trans' ferred, set over, and delivered unto the Mortgagee by separate deed of assignment. notwithstanding the fact that the same - may be satisfied and cancelled of record, it being the intention of the parties hereto that the same will besatisfied and can- celled of record by the holders thereof at or about the time of the recording of this mortgage. - 5. In the event the ownership of the mortgaged premises. or any part thereof, becomes vested in a person other than the Mortgagor, the Mortgagee may, without notice to the Mortgagor, deal with such successor or successors in interest with reference to thh deed and the debt hereby secured, in the carne manner as with the Mortgagor without in any way vitiating or discharging tbe Mortgagor's liability hereunder or upon the debt hereby secured. No sale of the premises hereby mortgaged - and no forbearance on the part of the Mortgagee, and nc ••xteruion of the time for the payment of the debt hereby secured given by the Mortgagee shall operate to release, discharge, modify, change or affect the original liability of the Mortgagor herein either in whole or in part. ~ ~ - 6. The lien of this deed secures and shall rnntinge to secure payment of said indebtedness or indebtedness, however evidenced, whether by said promissory note or any renewal or extension thereof or substitute therefor, or otherwise, until all such indebtedness shall have been fully paid. ~ 7. !n the event the mortgagors sell, convey or tmnsjer the mortgaged-premises During the lije ojthis mortgage, then s 6 this mortgage shall, at the option of the Mortgagee herein. become immediately due and pa)~able jot the full stun u t Ic ! principal balance anJ interest then due. 8. The terms "Mortgagor' and "t?fortgagee" whenever rued in this instrument shall include the heirs, personal repre- ntatives successors and assigns of the respective parties hereto. Wherever used the singular number shall include tbe plural se and the plural the singular, and the use of any gender shall include all genders. F Se~ Signed sled and iv i e p of: . l~Md i STATE OF FLOttIUA ~ k COUNTY OF Y S.t. Lea d JERALD D. STULL and FAME B. STULL, his wife Before me pe Y PP~re `f to me well known and known to me to be the individuals described in and who executed the toregping instrument, a acknowledged before me that they executed the same for the purposes therein expressed. WITNESS my hand and,offid ~f, th day of January, 1979 ~ - ' in the County and State last aforesaid this 5 ~ Nd RECORDEO~ _ " F:LED A FLt ~ , = . . L..C1E CG'UNTY. . ; My Commission Expires: T"-^° 3p-} 1979 Notary Pu tic, State ofF10 J ~ ,,.x ~~g fE,~ I AM 9. - ~ ` ;~(~cE=~ Noy?~:., ° p 3U2 FA~1722 CLERK CIRCUIT COURT EGOK .