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HomeMy WebLinkAbout2941 Our File 5-44,635-1 this m~wtgagr or .Nhrr transtrr of title to the ntorlga~rd pnrprrly in rxtirt~ut:hment u( thr indrhtrdnays srcurrd hrrrby, as rirht, title and intrresl of the Mortgagor in and to any insurancr policies Ihrn in torcr shall pass lu Ihr purchaser ur granlre. (h)To prrturm, comply with anJ ahidr by rich •rnd rutty thr stipulatN~ns, agrrrmrnu, cunditNins and avwrnants in wid promisu,ry mite and in this dyed srl Furth. (i) 1-hat it any of .ail sums of munry hrrrin rrirrrrJ di fir itot promptly and fully paid within fittrrn days nrst aftrr thr winr srvrrally brcumrs due and payahk, or ~ each and rrrry the stipulatium, agrrrmrnts, ninditNrm rnd covenants ur wid promissory nett and this deed, or either, art iNN fully performed, atirmplird with and abided hy, the wid aggregate sum mrmN~nrd in aid pwmiswry riotr shall hr- come due and payable forthwith or lhrreafter at t'rr option of the Mortgagee as fully and atiunplrlrly as it the aid aggregate sum of vid promissory note was orijinally supulatrd to hr pa W un such day, anything in vid prumiswry note or herein to Ihr contrary tw~tw5thstanding. O) That in order to accrlrrrtr the maturity u( the indebtedness hereby srcurrd, braause or the failure of Ihr Mortgagor to pay any lax. assessment, liability, obligation or rncumlxanre uq~n said property, ac herein provided, it shall not hr nrcrswry ur rryuisitr that the mortgagee shall first pay the 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 deliquency any or all of those certain obligations required 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. AU sums so advanced or paid by the Mortgagee shall be charged into the mortgage account and become an integral part thereof, subject in all respects to the terms, conditions, and covenants of the aforesaid promissory note, and this mortgage, as fully and to the same extent as though s part of the original indebtedness evidenced 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 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 shall 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 to the rights of the owners and holders thereof 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 pioceeds 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 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, becomes vested in a person other than the Mortgagor, the Mortgagee may, without notice to the Mortgagor, deaf 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 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 I 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. br the event flee nrortgagurs sell, c•u?n•ey ur transjrr tlrc nu,rtgvged premises during the life ojthis mortgage, then ~ this mortgage shall, at the option uj the ~tifurtgugee herein, bee•unre immediutely due mu/ payable jnr the jrrll stun ojtlre } principal balmu•e mrd interest then due. i 8. 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 genders. 1 Sign ,sealed elive the presence of: V Sealt ~l/~ G (Seal) - . . I STATE OF FLORIDA ~ _ COIINTYO~ St. Lucie Before me personally appeared CHRISTOPHER D . McKEON and MARGARET ANN McKEON, his wife 5 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 ~utposes t19re~ 9 xpressed. WITNESS my hand and official seal in the County and State last aforesaid this 23rd day O M y F } My Commission Expires: Jt.ine 30 ~ 1979 Notary PubfiE, ~t$tt;~ ~$e - - . ~~~K~~9 ~~~E2938 • - - - - _