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HomeMy WebLinkAbout2459 Our File 5-44,743-3 This m~Ktgage car other tramter of title to the murtgagrJ prupcrty in extinguishment cat the inJshleJnrss secured hsrcby, sa right, talk ' and inletesl of the Mortgagor in and to any insurance policies then in lures shah pus to the purchaser or grantee. (h)Tu perform, comply with anJ abiJr by each and ersry the uipulations, sgrrements. cunJitw,ns anJ covenants in said promissory note and in this Jeed set forth. (i) That it any of sail sums of money herein refsrred to he not promptly anJ fully pa„I within fifteen Jaya neaj after the acme arverally bscumes Jue and payahk, or it each and every the stipu4la,ns, agreements, a~nditwna anJ covenants of sriJ promissory note anJ this deed, or eilhrr, art not fully pertotmed, complied with and abide) hy, the aaiJ aggregate sum msnliunrJ in sail promissory note shall be- come Jue and payablt t,xlhwith or thereafla at the oplian of the Mortgages as fully and completely as if the said aggregate sum cat said promissory note wasoriginally stipulated tr. be paid nn such day,anylhing in said promissory note nr herein to the contrary notwithatanJing. (j) That in orJet to accrlerate the maturity cat thr indebtrJncss hrtrby secured, because of the failure of the Murlga~gor to pay any tax, assrssmrnt, liability, oAligalion or encumbrance upon sail prupetty, as herein pnrviJrJ, it shag nut hr necessary car rryuisite that the nK,rlgagee shall first pay the same. . 2. The Mortgagee may, at his option, and without waiving his right to accelerate the indebtedness hereby sectued and to foreclose the same, pay either before or after tieliquency 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 a for the collection of the indebtedness hereby xcured. AU sums so advanced or paid by the Mortgagee shall be charged into the mortgage account and become an integral part thereof, subject in ad respects to tht terms. eonditiorts, and covetwtts of tbe aforesaid promissory note, and this mortgage, as fully and to the same extent as though a put of the original indebtedness evidrnoed by said note and xcurcd 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 tbe 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 extingttishmrnt of the indebtedness xcttred hereby, all right, title and interest of the Mortgagor in I and to any such abstracts of title shall pass to the ptuch:ser or grantee. 3 4. To the extent of the indebtedness of the Mort~lgor to the Mortgagee descnibed 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 incttmbrance 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 incum- brances, shall be and the same and each of them hereby it preserved and shall pass to and be held by the Mtxtg,gee herein as ' secuuity 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. 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, w~thout_ 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 discharg(ng 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 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, whether by said promissory nose or any renewal or extension thereof or substitute therefor, or otherwise, until all such indebtedness shall have been fupy paid. 7. /n the event the mortgagors sell, convey or transfer the nrortgvged premises during the lije ojthis•nrurtRage, them r this mortgage shall, al the option of the Mortgagee herein, become imneediatcly due and p~.vable jor the Jidl suer of the _ principal balvne•e and interest then due. ` i ~ 8. The terms "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the heirs, personal repre- ± ~ sentatives, successors and assigm 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 sled and v i resence of: Seal1 • (Seal? J~ta 18 1lhl ~ • 50 _ ( .~.1 i1t.F0 AkC kECGhiiEU ( sA~UGCEft POITRA~"• 448216 STATE OF FLORIDA Zi.ERK CIRCUIt COUR COUNTY O ~ RECt2i)D L`fR~F1E~~~--.~~(5,~r~~ ° t~~Lu ie Before me personally appeared JEANNE E . FILING, . an unmarried woman to me wdl known and known to the 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 Gth day Of June, 1979: 3 My Commission Expires: June 30, 1979 Notary Public, State Qf' e t = f s°ueK 3~~ vacs z4 ~ ` . ; , . .