HomeMy WebLinkAbout1139 1liortgasar. In eveat of fortcloture ot this wortR~sc or othtr ttwtfer o( litln lo tha u~ocia~6ed propertY ~n cxtinsuiehmenl ot the indebt• '
edness ucured bercby, ali risht, titlt and intcre~t ot thc ltori6~Ror in aad to ~nr insu~uire polici~a then in torre thall paes to th,e
purchaser ur ~tantee.
(6) 'Y'o p~erfotm. tomplr witk? aad •bide by e~ch ~ad everr t6a ~tipulationi, a~reement~, conditiont u~~1 covaunb in uid prumieeor~
note and in thia detd ~ct (otth.
(i) T6at ii snr o( wid ~unu ot money 6erein ~cterrcd to be noe pron~ptly aad tullr paid within _ iYiteen d~rs nest
aftor the auue ~evcnll~ betoma due and par~Lle, or if each arxl e~•ery tha ~tipulation~, rgreementf, condition~ and co~•euanu of ~aid
promla~ty note ~d Ih1~ deed, or either, ate not tully per4onned, co?uplied with and abidcd by~ 1:.: ~aid asste6ate ~um montioned ia
said proniiaeory note ahall bttome due and payable torthwit6 or t}~ereaft~r at tfie option uf the lSortRaaee ai (ully a~d coinpletefy w
ii the uid ~~;repte •um o( •~id promiseory note h•u orisin~lly ~tipuleted to be psid on tuch d~y, anytbing iu seid promi~aor~ aote
or hereia to contnry no[wilhitandin6.
( j) Th~t in order to aectlerste the m~turity ot the inJebtedncss hereby •ecured, becauee uf t}~e f~ilure of tl~e Mort6a~or to par an~
trx, auets~nent, li~bility, obli6Nion ot eneuu~brance upon arid property, aa herein provided, it •6i11 not bc neceee~ry ur requi~ite that
the u~ortss6ec ~hall fint p~y thc ~ame.
2. Tl~e biortgagee u~ay, At hie option, aud without waivi~?g lus riglit to accelerate the indebtedneae hereby
aecured and to forecloae the same, pay either befure or after delinyuency any or all ;.r thoae certaiu obligatiocie ;
requiced by the terme hereof to be paid by the h~ortgagor for tlie protectio~i of tt~e niortgage eccurity or for the collec-
tion ot the indebtedneae heceby aecured. All sume ao advanced or paid by the iiortgagee shall be char~ed into the
mortgage account and become an integral part thereof, ~ubject in :~11 respecta to the terme, conditione, aud covenonta
of the a[oreeaid promiesory note, and this mortgage, ae fully aud to the aame exient as though a part o[ the original
iiidebtedneae e~•idenced by anid note and aecured by thia n?ortgage, excepting huw•e~~er, that said B11I118 eiiall be repaid
the riortgagee fortli~sith upon its demand and he in addition to the regular ~nonthly installments provided by the
uiortgage n~te.
3. Tiiat tl?e abatract or abstracta of titte co~•ering the mortgaged proper~y siia[1 at xll ti~2iea, uuriug iite ii[e of
thie ~nortgage, re~nain in poeaeaaion of the i~lortgagee gud in e~~ent of the forecloaure of thi~ niortgage or ot}ier tranefer
of title to the niurtgaged propecty iu extinguishnient of the indebtedness aecured hereby. all right, title and intereet
of the ~iortgagar in and to any auch abetracia of title aliall l~ass to the p~irchaeer or grantee.
4. 'I'o !he extent of the indebiedneaa af the ~liortgagur to the ~vlortgagee deacril~ed ::erein or eecured hereLy,
the Dforigagee ia hereb~• subrogattd to tl?e lien or liene auil to the righta of tlie o~,ner~ anci holdere thereof of each
and every mortgage, lien or otlier incumbrance on tlie land de9cribed 1?erein ~+-iiicli is paid and/or aatiefied, in whole
or in part, out of tlie proceede of the loan described herein or secured liereby, aud tlie res~~ective liens of eaid mort-
gages, liene or other incumbrancea, ahall be and the aame atid eac}i of tl~eut hereb~~ ie l~rese.-ved aiid ahall paaa to and
I~e held b~• the 1liortgagee _herein ae s~curity for the indebtcdncas to the 111ortgagee herein deacribed or liereby secured,
to tlie same extent that it H-oul~ have been preaen•ed and would ha~•e heen passed to aud been held by~ the biortgagee
had it been duly and regularly aeaigiied, tranaferred, ~et o~~er, aud deli~ered wito tlie I1lortgagee by se~farate deed of
asezigiunent, notwithetanding the fact that the same ma} be satiafied and cancelled of recorcl, it beiug the intention o[ the
i~arties liereto that ihe samt witl Ite aatisfied and cancelted of record by- the holdera thereo[ at or about the time of
tlte recording of thi~ mortgage.
S. In the e~•ent the owner~hip of ihe mortgaged premises, or an~~ itart tliereo(, becomes vested in a per~on other
than the l~iortgagor, the '~~ortga~ee ynay, without notice to the n'~ortgagor, deal wid~ auch eucceaeor or succeaaora in
iutereat K•ith reference to this de-ed and the debt hereby eecured, in tlie 9ame manner aa ~+•ith the 1liortgagor without
in auti• way ~-itiating or diacharging the 'liortgagor'e liabilit~- hereunder or upoii tlie debt hereby eecured. No sale of
the prcmiaes Letebj• niortgaged and no forbearance oii the part of ihe 1'[c~rtRa~ee, and no extension of the time [or the
payment of the debt hereb~- utcured given b}• the 1liortgagee shall operatc to rcleaae, diacharge, tnodif}•, cl~ange or af[ect
tiie ori~inal iiabilit}' of the ~~ortga~or herein either in who~e oe in part.
6. The lieu of thie deed securee and ahall continue to secure pa~~n?ent of said iudebtednee9 or indebtedne.ex,
1?o~+~ecer evidenced, whether b~• aaid promissory note or any renerval or exteneion thereof or eubatit~te therefor, or
otliemise, until all auch indebtedne89 ehall have been full~- paid.
7. I~t tl:e cz~e~it tlre ~nm~tRngot-s sell, cn~rY~ey or h-a?lsfc°r the ~?intl~n~~cl ~remrses dt~rin~ tltc li/e oj t/iis »iof~t~ri~e,
thei~ lhis n:ort~nge shnll, nt t/rc ot~tion of tl~e ,lfort~ngr~ l~Pr-ei~t, l~rr~,»te i~r~nr~dialr~ll~ di~c a~td (~nyable for t)~e full su»t of
the princi(~al bal~nce nnd interest then due.
8. T}ie tern~s "biortgagor" and "tliortgagee" whenever used i?i this instru~neut sl~all includa the heirs, personal
~ repre~entativee, succeaeors and asai~na of the respective partiea hereto. Wherever uned the eingular number ahall include
the plural and the plural the eingiilar, and the use of any geiider shall include all gendera.
Si ned, sealed and delivered in the preaence of: ,~L,-~?~~"'-- ~ (S~?[.)
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~ -t~'?~%1.C/-- _ . - - - - - - SEAL ~
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V
STATE OF FLORIDA
COUNTY O .
s~. e . :
Before peraonally appeared AI18E8TA L. MO]iEOT~ eII u~trried v0~1at~~ fo~merly ALB~BTA ~G~, j
. to me well ~Cnown and kaown to me to b~ the individuals deacribed in and who executed the foregoing inatrument, and ~
acknowledged hefore me that they executed the eame for the nurposea therein expreeaed. WITNESS iny hand and
o~icial eeal in the County and State last aforeaaid ihis 5th daT of Jan 966. :
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hiv. Co~>>~~nn Exp~rea: Notary Pu lic, State of Flor .
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