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HomeMy WebLinkAbout2059 .Our File S-43x933-1 this m~xtgage ur ulhrr transfer of tick to the murlgaged property in eatinguishment ut the indrMrdnrss srcwrd hereby, act right, titN and interest of the Mortgagor in and to any insurance policies Then in force sha4 pass to the purchaser iK grantee. (h)To perform, comply with and abWe by exh and every the stipulalit~ns, sgrerments, cundilM~ns aMl covenants in said promiswry note and in t his decd set forth. (i) That it any of said sums of money herein referred to tx not promptly and fully pant within fiQrrn daY~ nru alter the same srvrtally becomes due and payahk, or if each and curry the stiputaln~nx, agreements, a~ndnium and cuvrnvnt• of •aid prumis+ory note and this deed, or either, art ix?t fully prrformcd, mmplird with and abided hy, the said aggregate sum mentn~nrd m srid pn?m?sv~ry note shall I+s- come due and payable AxlhNith ~K thereafter at the option of the IN~~rtgagee as fully and a~mplrtrly as it !hr Grid aggreWte wm ut said promiuoty n<slr was originally stipulated to be pail on such day, anything in said pomissory note or herein Io the c~intrary muwithalanJiag. (j) That in order to accelerate the maturity of'thr indebtedness hereby secured, hepuse ut the failure of the Murtga~or t~? pay any lax, , assessment, liability, obligation of encumlxance upon said property, :s herein provided, it shall mN he necessary ur reyuisitr that the ansrtgagee shall first pay the same. 2. The Mortgagee may. at hb option, and without waiving hk right to screlente the indebtedness hereby secured and to foreclose the same, pay either before or after tieliyueacy sny or all of those certain obligations required by the terms hereof to be psid by the Mortgagor- for the prott:ction of the mortgage security or for the collection of the indebtedness hereby secured. AU sums so advanced or paid by the Mortgagee shall be charged into the mortgage account and become an Integra( part 4hercof, subject is alf reapocts to•the terms. condition. and covenants of the aforesaid promissory note, and this mortgage, as fully and to the time extent as tbou~ a part of the original indebtedness evidenced by said note and secured by this mortgage, excepting however, that said aunts shall be repaid the Mortgagee forthwith upon its demand and be in addition to the regular monthly iastaYmrnts provided by the mortgage note. - 3. That the abstract or abstract: of tick covering the mortgaged property shall :t all times, during the life of this mortgage, remain in possession of the Mortgagee and in event of the foreclosure of this mortgage or other transfer of tick to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title and interest of the Mortgagor in and to any such abstracts of tick shall pass to the purchaser or gpntee. 4. To the extent of the indebtedness of the Mortgagor to the Mortgagiee desrn'bed herein or secured hereby, the Mortgagiee is hereby subrogated to the lien or liens and to the rig~tts of the owners and holders thereof of each and every mortgage, Uea or other incumbrance on the land dtxcribed herein which k paid 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 incum- brances, shall be and the same and each of them hereby is preserved and shall pass to and be held by the Mortgagee herein as security for the indebtedness to the Mortgagee herein described or hereby secured. to the same extent that it would have been preserved and would have been passed 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-be satisfied and po- 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, 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 this deed and the debt hereby secured, in the carne manner as with the Mortgagor without in any way vitiating or discharging the-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 no ~~xteltsion of the time for the payment of the debt hereby sectued 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. '4 6. The lien of this deed secures and shall rnntinue to secure payment of said indebfed_ ness 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 mortgagr~rs sell, convey yr transfer the nl~rtgaged premises during the life of this mortgage, then this nla?tggge shall, at the option of the Mortgagee herein, become immediately due and payable for the Jidl sum njthe principal balance and interest then due. . 8. The terms "Mortgagor' and "Mortgagee" whenever toed in this insttvmrnt shall include the heirs, personal repre- sentatives, successors snd assigns of the respective parties hereto. Wherever used the singular number shall include the plural and the plural-the singular, and the use of any gender shall include all genders. Signed sealed a ive the presence ~ '~Q. Seal) . - (Seal) t ~ - - • STATE OF FLARIDA ~ a couNTY o~t : Lu ire - Before me person y appeared MIRREOLA IVORY, an unmarried woman to me well known and known to me to be the individuak described in and who executed the foregoing instrument, and adcnovvkdged before me that they executed the same for the purposes therein expressed. WITNESS my hand and official seal in the County and State last aforesaid this 15th day of January, 1979 ; ~ l - ~ ~ r - - M Commission Ex Ti~~, 1979 NB,tai,~. ~~,ate o y e _ rr '~~i ~ e - a~K303 ~f2056 _ -