HomeMy WebLinkAbout2166 Mo~tRa6or. In e~•ent ot torcelwure ot thia n~or~sa`e or other lrmder o[ titln te 1he msrid~sed pts~erir in extinsut~hnun~ o[ t6c iadebt•
edat~ea securtd Lureby, all rI~!?t, title aad intereet of the Mort~aaor in and to aar insunnce poluia thsn i~ (orcc ~hal! pas~ to the
r:~i~~r ~r e.astw.
(6) To pa~form. campl~ aith and nbide br e~c6 ¦nd erery the ~ipulotioni~ a~eomenu, conditione •od coven~nt~ in ~~id promtuary
note :nd ie t6ti d~ed eet (oHh.
(i) 'Th~t it mr o[ ~aid •unns oI money he~tin rtfer~ed to be not pcompti}~ and fully pald wit6iA fitteen dar~ ncat
atte~ the suue ~everallr b~caine~ due and payable, or if eaeh and every tha ~tipuletions, a6reemenU, condition~ and eovcosnb ot aitd
prom[ss~t7 aote aad th~• deed, oc eithe~, ara not (ull pec~ortned, coiuplied witb and abided by~ ?6e said a66re~ale ~um mentioned ia
said pton?iusory note ~all btcome due and payable ~ort6with or therea[ter at the option of the ~iort6s6ce a~ tullr rnd rompletely a~
if tha said ~~=repte ~mn of ~~td promiuory note wa~ orisio~lly ~tipulated to be paid oa •uch day, anyl~i~s in s~id promiuory ~sta
or heroin to conUary no[Mithst~ndin6.
( j) T~~t in orckr ts aceelerate tht m~turitr of the indrbtednea hercbr aecurcd, bocawa of the failure ot the Mert6aaor to pa~ w~
t¦Y, aueaunent, llability~ ~bliptioa o~ encuuibrance upon arid proparty. u herein provided, it •hall not bs ncaessatp or requiiite that
thc moctga6ee ~hall Fnt par the ~ame.
2. Tlit riort~agee ui~y, ~t Lie optioa, ~nd wiihout waiving lue right to aci,~elerate the indebtedneee hereby
aecured and to foreclaee the aa~e, pay cither before or a[ter delinquenc~• any or all of thaae certain oblip,atione
eequic~ed by the term.e hereof to be paid by the biortgagor for tlie protection of the niortgage aecurity or ior the oollec-
tion o~ the indebterlneea h~t~by secured. A!1 sucn8 ao Advauced or paid by the ~iortga~ee ah~ll be chs?rged into the
mortgage account and become an integral part thereof, aubject i~i all reapecte to tlie terme, conditione, and covenanta
of the aioreaaid proinieaory note, and this mortgage, aa fully and to the Ba+me exteat ae though a pert of the ori~inal
i~idebtedneae e~•idenced by said note and secured by thia mortgage, e~oepting howe~~er, that said Buma ehall be repaid
the ~ioe¢go~~~ :o:ih:,•ith upan its d~:z.~~~ 9~,~ ba iu addition tn thP re~ular monthly installmenta urovided by the
inortgage note.
3. That tlie abatract or abetracta of title cos~ering the mortgagecl property al?all at all iimee, during the life of
thie inortgage. remAin in poedeesaion o[ the Mortgagee and in event o[ the forecloaure of thie mortgage or other tranefer
of title to thc niortgaged property iu extinguiahment of tbe indebtedneas secured hereby, all right, title and intereat
of the l~ioetgsgor in ~nd to :ny at.ch abetracte of title eha~l pae9 to the p~irchseer or grantee.
4. 'I'o the ertent of the indebtedneaa of the Mortgagor to tlie Mortgagee deacrihed herein or aecured hereby,
the 1liorigag~~e ie hereb) subrogated to t}~e lien or liena and to the righte o[ tiie o~r-nera and holdera thereof of each
and every niortgage, lien or oiher incumbrance on the land described lierein w}uch ie paid and/or aatiefied, in whole
or in part, out of the proceede oE the laan deacribed herein or secured hereby, aucl tlie reepective liens of eaid mort-
gagea, liene or other incumbranc~e, ehall be and the eame and eacli of lhein hereb~- ie I?reserved and ehall paea to and
1~ held b}• ihe Mortgagee herein se aecurity for the indebtedneae to the Alortgagee herein described or hereby secured,
to ilie same extent ihat it Hould have been preaen•ed and would have heen pas3ed to and been held Ly the MortgAgee
i~ad it heen duly and regularly aeaigied, trana(erred, aet over, a~id deli~-ered uiito tlie Mortgagee b}• separate deed of
a~igi~tnent, notwithetanding the fact that the same may be aatiefied and eancelled oC record, it beiug the intention of the
. l~arties hereto that the same will be aatiafied and eancelled of record by- the holdera thereof at ur about the time of
tlie recording of thie mortgage.
5. In the event the o~vnerehip of the mortgaged preniisea. or any- part tliereof, becomes vested in a peraon othtr
than tlie Morigagor, the '_1lortgagee may, without notice to the ~ltortgagor, deal witli euch auccea8or or aucceaeors in
iutereRt with reference to thia deed and the debt hereby eecured, in tl~e same manner as with the ~'Iortgagor without
in ~~iy way ~ztiating or discharging the Diortgagor's liability hereunder or upon th~ debt hereby aecured. No aale of
tLe ~remiaes hereb}~ niortga ed and no forbearance ou the pArt of the ':llortgagee, and no exteneion of the time for the
payn~eut of the debt hereb g atct~red given by the Mortgagee ahall operate to release, digcliarge, modify, change or affect
tl~s original liabilitj• of the i7ortgagor herein either in whde or in part.
6. T}ie lien of thie deed aecurea and 8ha11 coatinue to secure paymei~t of said indebtedneae or indebtedneae, .
, liowe~•er evidenced, whether by eaid promiaaory note or any renewal or exteneion thereof or aubstitute therefor, or
otl~erwiBe, until alt euch indebtednra9 ehall have been full~• paid.
7. I?z the eve»t tlre ~»ortgngors sell, coi~r~e~~ oT- h~a~?sJer tlie mortgngeci ~remises di~ring t)~e li/e of t/tis mo?-lg~ge,
tlie~t this n,ortgage shnll, at the optio~i oj the riortgng~c lie.rei??, be~nnte t»~ntcdratelti~ di~e nrid ~inyable foi• the fttll st~m of
the principnl bnlance ni?d interesl tlieii d~re.
8. The ternie "1~Sortgagor" and "Mortgagee" whenever uaed ici thia instruinent aliall include the heira, personal
repteaentativea, aucexaeors and aasiRne af ihe respective parties hereto. Wherever used the eingular number ehall include
the plural and the plural the eingular, and the use of any gender shall include all gendere.
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~ Signed, eealed and delivered in the presence of : , .~.L. _,:•t-:~., __l t..:.~.. ~s~. ~ 5- (S~?L)
. .,C~c-~'?~''`~~ - - ! - ` - _C~L~'Z-i..c//I2.....---.. (SSAL) -
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STATE OF FLORIDA
; COUNTY OF IT.~C
~ BcTore a eUpez nAlly appeAred 2+III~LAGE B. CO1~I~INS s21d ~uILDRED COLLIPIS ~ his v~if e,
to me wetl known a~d known to me to be the individuaie deacribed in and who ezecuied ihe foregoing ine?rumen~, send
acknowledged before me that they executed the aame for the purpoaea therein expreeeed. ~t/ITI~IESS my hand and
~ o8'icial reet in the County znd State laet aforeaaid thie 2 th day Of ~T S y~ 1966 . :
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