Loading...
HomeMy WebLinkAbout1200 5-45,166-6 this m+Ktgase ur othrr lrattsftr of tilk to the m++rlttagrd pruprtly in ratinguishmrnl of thr indrhlydnrss srcutrd hrrrhy, aN right, tilt anJ interest of the Morlgagur in and to any insurance policies Then in force shall pass iu Ihr purchrsrr ur Xrantrt. Ih)Tu perform, amply with and abidr by r:+ch and rrrry thr stipulalw+ns, agrrrmrnts, runditi++ns and rurrnrnts in said promissory mitt and in this dyed art forth. (ij that if any of uid sums of murlry htrrin rrtrrrrd to he not promptly and fa+lly paid within fiftern day. ntst aftrr the vmt srvrr~lly brcomes Jut and payahlr, ur d each and curry the atipulauuns, a6rrtmants, anditk+ns and currnanl..uf wW prumisM+ry nott and this decd, nr rithrr, are rtul fully ptrl+Kmed, amplitd with and abidrd hy, the said argrrgatr cum mrnti++nrd in s+id promiswry m,tt shall tx- rnme Jut and payable f+xlhwilh .+N thrreafter at thr option of the AlurtEagee as fully and a+mplttrly as if 1ht viJ a6grtrale .um of uid promissory mrit wss+xiginally slipugted to bt paid on such day, anything in said prnmiawry notr or htrrin to tht anntrary notsvilhstrndir+~. (j) Thal in order lu acceleratt thr maturity of tht indrbtrdnrss hrrehy serurrd, bearust of the tailurr +?f Ihr Murlga,gor lu pay any to:, assessmtnl, liability, ohligali+?n or encumlxance up+n said property, as herrin pruridrd, it shall n+~t hr nrca~aary ur rryuiailr that the rm+rtgagce shall lust pay thr samr. 2. The Mortpgcr may. at h_n aption, 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 required by the terms hereof to be paid by the Mortgagor for. the protection of the mortgage security tx for the rnUection of the indebtedness hereby secured. AU sums so advanced tx paid by the Mortgagee shat! be charged into the mtxtgage account and bernme an integral part thereof, subject in all respects to the terms, conditions. and covenants of the aforesaid promissory note, and this mortgage, ss fully and to the same extent ss though a put 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 ce abstracts of title covering the mortgaged property shall at all times, during the life 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 secut~ed 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 secuued 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 inctunbrarlce 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 is preserved and shall pass to and be held by the Mortgpgee herein as security for the indebtedness to the Mortgagee herein described or hereby secured, to the same extent that it would hare 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 of 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, 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 on®nal 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 evidcr?txd, whether by said promissory note or any renewal or extension thereof or substitute therefor, or otherwise, until all such indebtedness shall have been fogy paid. . 7. In the event the mortgagors set/, convey or tronsjer N?e mortgcrgeJ premises drning the lije of this »:urlAage, them this mortgage steal/, at the optio?1 of the Mortgagee herein, bec•unre imnrediatelt~ due anJ pa?lable fir the jolt sum njNrc principal i5alulu•e and interest then due. 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. Signed, d and v e nee of: Seal) (Seal) STATE OF FLORIDA ~ COUNTYOFt. LuC e~ Before me personally appeared WILLIE FOSTER and LUCINDA FOSTER, his wife to me well known and known to me to be the individuals described in and who executed the foregoing instrument, and - ackrlowledged before me that they executed the sarne for the purposes therein expressed. WITNESS my hand and official seal in the County and State last aforesaid this 1st day Of AuguBt, 1979. 2 . ~ My Commission Expires:Jurie 3U. 1953 Notary Public, St~ of pk Lt`a' ~ S. fib .gam ~4 P~Ei1 f.~ ' ~''~<<,,t.r