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HomeMy WebLinkAbout2462 - Our File 5-44,742-5 Ihis mortgage ut other transfer of tilk to the murtgagrd pwperty in etli?rguishment ut the indchtednrss secured hereby, sa right, tNk and interest of the Mottgagur in and !u any insurance pulaiee then in Irrrce shall pass to the purchaser or grantee. (h)Tu perform, comply with and abide by rxh and evrty the stipulatir?ns, agrrrments, cundNirrns and covenants in said promissory note and in this drat set Furth. (i) 'Ihal it any of said sums or muneY herein rrrerrrd to he not promptly and fully paid within fifteen days next after the same ses•erally becomes due and payahk, ur it each and every the sliputala?ns, agrremrnts, conditions and covenants ~~t saiJ promissory note and this deed, or either, are not fully performed, rnmplird with and abided hy, the said aggregslr sum nxntwrned in said promissory note shall be- come due and payable frxthwith or therearta at the optir.n of the Mortgagee as fully and mmpdelrly as J the vid aggregate wen of said promissory rrotr ssasoriginally stipulated lobe paid un such day,anything in said promissory note or herein to the contrary nutwithstanditrg. (j) That in onler to accelerate the maturNy of the indrbtrdness harhy secured, beouse of the falloff ur the Mortgagor to pay any tax, assessment, liability, ohligatan or encumbrance ugrn said pwpetty, as herein provided, it shall niu hr necessary ur requisite that the i rrxrrtgagee shall first pay the same. 2. The Mort®agee 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 file terms ' hereof to be paid by the Mortgagor for the protectioa of the mortgage sectrity or for the collection of the indebtedness hereby secured. All sums so advanced or plod 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 a part of the original indebtedness evidenced by said note and secured by this mortgage, excepting howevsr, that said slims 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 titk oovering.the-mortgaged property shall at all times, during the 6fe of this mortgage, remain in possession of the Mortgagee and in event of the foreclosure of this mortgage or other transfer of titk to - the mortgaged property in extinguishment of the indebtedness secured hereby, all right. titk and interest of the M/xtgagor in and to any such abstracts of titk shall pass to the purchaser or grantee. 4. To the extent of the indebtedness of the Mortgagor to the Mortgagee desmbed 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 satisfted, in whok 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 cancelkd of record, it being the intention ot_ the parties hereto that the same will be satisfied and can- celled of record by the hdders 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 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 Motgagor herein either in whok or in part. 6. The lien of this deed secures and shop 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. /n the eveirt the rnurtgagurs sell, rorrhe?• or trarlsfe>• the nuntgaged premises during the lije ojt/ris mortgage, there this mortgage shall, at the option of the Mortgagee herein, hec•onre immediately due and pnvuble fin the Jidl su?n of Nte principal balmic•e urrd interest then due. i ~ 8. The terms "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the heirs, personal repre- r 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. Sig , sealed a deliv i e ace of: Seal) (Seal) ' x t j - STATE OF FLORIDA ss COUNTY OF~I~ ' Before m~ peer a»~y appeared STANLEY L. ROGALA and ELVIRA D . ROGALA, his wife to me well known and known to me to be the individuals described in and who executed the foregoing instrument, and i _ 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 6th day of June, 1979. r y - - My Commission Expires: June 30, 1979 Notary Public, date o[ .F O. t et a 1919 J:;~~ i8 ~ il~ 50 - 44821'7 FaEa uric f~t:cc,~cro • at~~~ciE cc~iH:r Fcl~. ~ - ' 10 ~ac~2460 ~ • • i