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Home My WebLink About1996 Our File 5-44,238-4 this m~Kt~a(tr ur ulhrr Iranslrr ur title to the m.wtKagrJ pn.prrty in r~tinKwshmrnt the inJrMrJnra sr:urrJ hrrrhy, aM right, title auJ inlrrrsl or the >1lortgagor in anJ to any insur-rncr p.licirs Ihrn in tutee shall pass w the pur:hasrr ur granter. Ih) fo prrfurm, comply with anJ ahiJr by rich anJ curry Ihr stipulalw.ns, aKrcrmrnts, conJitw.ns anJ a.vrnants in sail pr•.miw.ry m.tr anJ in this JcrJ set forth. ' (il that if any of viJ sums of munry Karin rrfrrrrJ to be rwH promptly anJ fully pail within (dtrrn Jays nru alter the wnx srsrrally tx:omrs Jut anJ payahk. or it each anJ curry the supulauum, aKrcrmrnts, a~nJitM.ns anJ :nsr~unts ut v~J prumiswry nutr anJ this JerJ, or rithrr, arc .NN fully pah.rmeJ, :umplirJ with anJ ahiJrJ hy, the Bawl agerrgatr sum mrnte~nrJ m u.J prumiswry .wtr shall I+e tome Jut anJ payahlt (urthwhh ur thrrra(ta at the optw.n ur the ~lorlgaser a. fully anJ cumplrtrlt as it the viJ aggrrgatr wm ur viJ promissory ~N.te w~snrr`n?ally stipuLrtrJ to hr pawl on such Jay anything in sail prumiswry norr ur herru. w thr:v.ntrary ~N.hsnhstanJing. (j) That in orJer to sccrlrratr the maturity or the inJrbtrJnras Kathy savurcJ, hepusr ur the failure ur the Mortgagor to pay any tag, ;assatismrnt, liability, uhligatw.n or ertcumhrancr ul>,.n yawl property, as hrrrin pu.vidrJ, it shall nut he nrcrsvey ur rryuisitr that the ' murtg:gtre shat) first pay the same. ~ 2. The Mortgagee may, at his option, and without waiving his right to accelerate the indebtedne~~ hereby secured and to foreclose the same, pay either before or after deliyuency any or all of (hose certain obligations rcyuired by the terms hereof to be paid by the Mortgagor for the protection of the mortgage security or for the collection of the indebtedness hereby secured. All sums so advanced or laid by the Mortgagee shall be charged into the mortgage account and become an integral part thereof, subject in all respects to the terms, rnnditions, and covenants of the aforesaid promissory note, and this mortgage, as fully and to the same extent as though a part of the original indebtedness evidentd by said note and secured by this mortgage, excepting however. that said sums shall be repaid the Mortgagee forthwith upon its demand and be in addition to the regular monthly installments provided by the mortgage note. 3. That the abstract or abstracts of title covering the mortgaged property shall at aQ times, during the Gfe of this mortgage, remain in possession o[ the Mortgagee and in event of the foreclosure of this mortgage or other transfer of title 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 title sha8 pass to the purchaser or grantee. 4. To the extent of the indebtedness of the Mortgagor to the Mortgagee described herein ur secured hereby, the Mortgagee is hereby subrogated to the lien or liens and to the rights of the owners and holders (hereof of each and every mortgage, lien or other incumbrance on the land described herein which is 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 inctprt- 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 desmbed 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 pn- celled of record by the holders thereof at or about the time of the recording of this mortgage. s 5. In the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than s 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 same 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 n~ ~•xtettsion of the time for the payment of tbe-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. b. The lien of this deed secures and shall continue 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 otherw•ie, until aU such indebtedness shall have been fully paid. I 7. hr the event the ?nnrtguguis sell, c•unrrt~ c?r tru?uji~r Nre ntortgageJ prrnrisrs During the life c,j Nos nun{~agr, thc?? this mortgage s/ral/, at the vption uj the :tilcrrtgagee hrrrin, bec•omr inrnrediutr/v Joe aru/ pat~ahlr ju>• t/re jrdl sum uj t/rr p~nripal halunc•e urrcl interest their dice. 8. The terms "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the heirs, personal repre- i sentatives, successors and assigns of the respective parties hereto. Wherever used the singular number sha0 include the plural § and the plural the singular, and the use of any gender shall include all genders. Sig ed, sealed and d ive in • e presence of: Seal) (Seal i g m STATE OF FLORIDA ss CotJNTY ~q~i c e EDKAR LEE PETERSON , a 1 so known a s EDKER PETERSON Before me personally appeared gnd VERA J . PETERSON, his wife to me well known and known to me to be the individuals described in and who executed the foregoing instrument, and acknowledged 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 17th day of March, .1979 . • , , T Y ~ , r My Commission Expires: -Tune 30 1479 ~~336 Notary Public, Sete of e '~9 ~ - s gaox306 ~~F1994 ~ - - - ~