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HomeMy WebLinkAbout2491 Our File 5-44,339-0 Ihia m~xlrasr .x ulhrr tramtrt u/ title to the mwtraKrd pn,prrty in rNin~uuhmrnl of Ihr inJrhlydrtr» ar.utrJ hrrrhy, as right, INk and inletrsl ut thr Morlgagxx in and to any imuranave policies thrn in forcr shah pass to thr purchaxr ur pantry. (h)To perrurm, comply witA and abidr by rash and rutty thr slipulalM,na, agrrrmrnts, rnnditM,na and cti,rrnanla in saW pu,mtssory ru,lr and in this Jeed set forth. (i) Ihat if any at said sums of munry hrrrin rrtrrrrd Iu be rn,t promptly and fully paW wNhin fJtrrn daY~ oral aRrr the xanrr ~rarrallY brcnmrs due and payahk. rx it each and rutty the stipulatN,nx, aKrrrmrnh, n,nditaat. and cuvr,unt. ur un) prumi.v,uy notr and This drrJ, nr eithrr, art tN,l fully prrf,xmed, a,mplird with and abidrJ hy, thr xrid argrrgatr cam mrntN~nrJ in a,J prumi..,xY rw,lr vhalt he rnme Jur and payable t.xthwith .x thrrratta al the opta,n ut thr Mnrtga~rrrx tuly rod a~mpletrly ax it thr aid agprgatr cam ut aid promissory notr wasori~inally xtipuistrd tube pail un such ~lry, anylhinR in said promia..,ry notr or herrm to thr n,mrary ,wNwithatando~. (j) that in order acceleratr thr maturity of the indrbtrdnraa hrrrhy xrcurrd, hrwuse or Ihr railurr .,f thr Murtaasor t., pay any tar, axsrssmrnt, liabih , oMipliun ur ertcumMance up,n said pn,prrty, ac hcrrin pruvidrd, it shah nut hr nrcr+vey ur rryuisitr that Ihr rm,rtgagrr shall first pay [hr same. 2. The Mortgagee may, at his option, and without waiving his right to accelerate the indebtedness hereby secured and to foreclose the same, pay either before or after ddiquency any or all of those certain obligations reyuired by the terms hereof to be paid by the Mortgagor for the protection of the mortgage security or for the rnUection of the indebtedness hereby secured. AU scans so advanced or paid by the Mortgagee shall be charged into the mortgage account and become an integral part thereof, subject in a9 respects to the terms, conditions, and covenants of the aforesaid promissory note, and this mortgage, as fully and to the same extent alt 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 ittstaUmenta providtd by the mortgage note. 3. That the abstract a abstracts of title covering the mortgaged property shall at all times, during the Gfe of this mortgage, remain in possession of 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 shag pass to the purchaser or~grantee. 4. To the extent of the indebtedness of the Mortgagor to the Mortgagee described herein or secured hereby, the Mortgagee is hereby subrogated to the lien or liens and 1o the rights of the o4vtters and holders thereof of each and every mortgage, Gen or other incumbnnce 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 bereby, and the respective liens of said mortgages, liens or other incum- branees, shall be and the carne 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 of 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 antxlkd of record, it being the intention of the parties hereto 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. 5. In the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the Mortgagor, the Mtxtgagee rosy, without notice to the Mortgagor, deal with such successor or successors in interest wish reference to this deed and the debt hereby secured, in the same manner as with the Mortgagor without in any way titiating 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 extension 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 continue to -secure payment of said indebtedness or indebtedness, however evidenced, wbether 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 nu~rtgagors sell, convey ur transjer the ?nnrtgageJ prchttises Juting the fije uj this nu,rtRaRe, the?t Ihis ntortguge slwll, o! the option of the blurtgugee• herein, bec•unte intmPJintclt~ due mu/ p~olahle jut tlrc~ Jill! soot of Nre I prittripal halattc•e and interest then Jue. S. The terms "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the heirs, personal repre- sentatives, successors and 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 geode E red, se a ive the presence ot: Seal ~~~"'fSeal l ~t_A1 w~-~ C:• ~~j~ Q o STATE OF FLORIDA 4 COUNTY OF ~ BeforSme pers~y appeared J . G . LEDLOW and MARY HELEN LEDLOW, his wife to me cad) known and known to me to be the individuals described in and who executed the toregoing instrument, and 3 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 3rd day of April, 1979 . FILEp pftD RECORDED {.~,}C1E C nUlJ7V FLA: k My Commiaion Expires: -Tune ~0 ~ 1979 Notary Pub1j,~ .S~ pf, . e ' t'iP(t 12 PM Z : 34 _ o T9 440655 -`~,t,~_"- :f~._ i C1_E~~: C1i~ BJQKt)VU P~CE~4~ t L . f _ _ .