HomeMy WebLinkAbout2321 Mort~aoa In e~•ent o[ foreelo~u~e ot t6u n~ort6~6t ur other u~n~ter of tide tu tha woH6~ged p~operty in extin5uiehment uf t6e ind~bt•
edneaa secured hereby, ¦!t rishl, titla rnd intercat ot the DioriR.Ror in and to aar inturance policir~ thea in torcc ~hall pan to tbe
puretuaor ur ~tantet.
(h) To par(ocm._eomplr wit6 and ~bide br eac6 •nd e~•ery the etipulationi, as~eemenu, condition~ and covenanu in •aid proiniaierr i
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note rnd ia ttii~ oeeu sc~ ionn. ~
(1) That if aa~ oE said •unu o[ iuoner 6erein reterred to be not promptly and fully paId within fliteen day~ neait
dter the aacue ~everall~ beeoma due and payable, or if eReh and every tlie ~tipulationa~ aa~eecnent~, condition~ and eoveu~au of uid '
promisa~rT note apd thS~ dead, or eithcr, arc not iui[y pe?io~ne3, coiuptied f+iiL enu' at~iiu'c.i tue -s~i.', aggr~y:te ~~~.s nxr.t:cux:! i~x
said proniiuory note ~hall become due and payRblc fort6with or the~~after at the o~tion of tht \iorl~r6ee a~ (ullr ~nd completcly as
if the saId ~`rcpte •wn of eaid promi~~ory note wa~ ori6inally •tipulatcd to be p~id on •uch d~y, anythin6 tn ~~id promt~aory ~ote
or herein to ~ contnry notwith~t~ndin6.
( j 1 That i~ urde~ to aecelente the maturitr of the indebtednesa herebr ~ecurtd, bec~uee ot the (ailurt of tht Aioribasor to pay any
tr:, as~caunent, liabilitr, obli6atioa or encumbrance upon erid prop~ny, a~ herein provided, it •b~il not be neeeaaar~ or ttqui~ite that
thc u~ongasee ~hall fi~st par the same. -
2. The biortgagea uiay, at hie optioa, and witho~st waiving hie right to accelerate the indebtedneae hereby
e~cured aud to foreclox the aamt, pay either before or after delinquency auy or all of thoae certain obligations
requir8d by the terma hereoC ta be paid by the biortgagor for tlie pratection of tlie mortgage security or ior the collec-
tion o[ the indebtedueaa heeeby eecured. All aume eo advaneed or paid by the Mortgagee ahall be charged into the
mortgage account and become an integrel part thereof, subject in all reepecte to tl~e terme, conditiona, and covenanta
of the aforeeaid promiaeory note, xnd this moriga~e, as fully and to the aame extent as thougli a part of the original
i~idebtednesa e~~idenced by said note and secured this ntortgage, e~ce~ting horre~~er, that said eume ahall be repaid
the l~iortgagce forth~+•itli upon ite de~iiand and be iu addition to tlie regular monthly installmente provided by the
uiortgage ndte.
3. That tlie abatract or abstracta of titte co~•ering the mortgaged propertty sliall at all timea, duting the life of
e~E tE.a ~rTnrtoaoas~ anr~ in va•P!ilt nf tl~r f(1TP1~IM11TP_ Af ZhIR n~ort~aEe or other tranefer
~tltf3 Il?v~igdgc~ iGiTiaiu iu Yv
n~.v.". .~----0-6-- - - - -
of title to thc n?ortgaged property iu exting~~iahment oE ihe indebtedness aecured hereb}', all right, title and intereat
oE the l~tortgagor in and to any auch abatracts aC title ahall paas to the p»rchaser or grai~tee.
4. 'I'o the e~tent af the indebtedneas o[ the Mortgagc~r to the Mortgagee deacrihed herein or secured hereby,
the ~1~ortgagee ie hereby subrogated to tlie lien or liena and to the righte of tlie o~?nera and holdera thereof of each
and every mortgage, lien or other incumbrance on the lund describeil herein H'~11CI1 ie paid and/or satiefied, in whole
or in part, out of ihe proc~ede of the loan deacribed herein or secured hereby, auci tl?e respective liena of aaid mort-
gages, liene or other incurabraocea, ehall be and ihe aame and eacii of tliein hereb~~ ie ~~reserved and ehall page to ~nd
I~e held b}' the A~ortgagee herein as aecurity for the indehtednea9 to the Aiortgagee herein descrihed or hereby secured,
to ttie same extent thai it ~+-oiild have been pre8era•ed and would ha~•e been passed to and heen held by the biortgagee
had it heen duly and regularly aeaigiied, traneferred, set over, aud delir-ered uuto the 111ortgagee b}' separate deed oE
a~igiinient, notwithetanding the [act that the aame may be aatisfied and cancelled of record, it being the intention of the
~,arties liereto that the same wilt be eatiafied and cancelltd o!' record by the holdera ihereof at or about the time of
tl~e recording of thia mortgage.
S. In the e~•ent the owneraliip 01 thC mortgaged premises. or an~~ pari ~itClCUi~ uecui~tC~ 'vcbicii iii a E~ciovTa vau~.a
than the 11~ortgagnr, the '_1lortga~ee may, without notice to t#ie Morigagor, deal with auch succeasor or succeasore in
interegt K•ith reference to this deed and the debt hereby aecured, in tlie same manner as with the Dlortgagor without
in aiit• way ~-itiating or diecharging the Aiortgagor'e liability- hereunder or upon the debt hereb~• secured. No aale of
the ~~remi~ herebj. morigaged and no forbearance on the part of die '_i~ort~agee, and no eYtension of the time for the
payment of the debt hereb~~ aecured given by the biortgagee ehall operate to release, discl~arge, modi[y, diange or aR'ect
tl~e ori~insl liabilit}' of the i1'lortga~or herein either in whole or in part.
6. T}?e lien of this deed securee and ehall continus to aecure pa~'nient o[ said indebte~lneas or indebtedneas,
l~oHe~•er evidenced, whether by eaid promiesory note or any renew3l or exteneion thereof or eubstitute therefor, or
otlierwise, until all euch indebtedne~s ahall have lreer? full~• paid. -
7. In tlie eijent t)re nrorl~agors sell, convey nr transJer fhe mo>~l~a~ed ~remises ~furin~ the !i(c of thts mo?~tgn~e,
t)lert this mortgn;e s1rn11, at the optio~i of Uie ,lfort~agc~e he?~ei~i, Lernme inrnredi~~el}' cltre ~~id (~a~~able for the fi~ll s«,~t of -
the ~ri~ici~nl baln»~e, nncl interesl then due.
8. The tern~e "h'Iorigagor" and "A~ortgagee" whenever uaed in thia instrmneut sl~all inclu~e the heire. personal
' representativea, aucce~8ors and aeei~na of the reapective partiea hereto. Wherever uaed the aingular numher ahall include
the plural and the plural the eingular, and the use of a~iy gender shall include all gendera.
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~ Sigued, sealed and delivered in the preaence of: H3,$ ~ . ~ . . . . ~SEAL~
J ea V. V~ckera ,
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, ~.c.t.-f -.~C-~ -n - - _ - (SfiAL~
~ T,illian -L. Qiokere -
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STATE OF FLORIDA
COUNTY O~'T~ ss
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Before me pereonally appeared JApIFS Y. YICKF~tS and LILI,IAN L. VICKER3~ hie wife,
to rae well known and known to me to be the individuala deacribed in and who executed the foregoing inetrument, and ~
acknowledged hefore me that they executed the eame for the purposes therein expre8aed. WITNESS my hand and
o~ici~l seat in t6e County and State laet aCoreaaid thia ¢th d~.y OI Fe U y~ 1 g66 .
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M~' Commieaion Expiree: - Notary Yu lic, State orida - ~ . ' -
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