HomeMy WebLinkAbout0120
~
~
PROVIUED, A1.WAYS, that if the Mortgagor shall pay unto the Mort~agee the indrbseduct+~ ~vidrnced by a
ccrtaia prrmiseory nat~ of wbich the following in worde and figuree ie a true cc~py to•wit:
MaWf
jQps /Yo~a?
s--~~~~-~ Miami, Florida_.~1_7~ lg
~
FOR VALUE RECEIVED ~ promise to pay
co the order of _ ~ ~ ~ .r
the principal sum o~TikO THVU;;AND, T:~:c' HD~iDRRD~ 1~`t'~••j1~jT~ DOLLAR5, cogether with inttrest
chereon from date at tht rate of ten percent. per annum until maturity, both principal and interest being payable in
lawEul money of the Uriited Statts at `~03 Rop~r huilding. Miami, Florida, or at such other place as the holders hereof may
designate in wricing. Principa! and interest payable in inytallmtnu as follows:
~or~r ~t4~•00) Doll~rs per soAt~h for lYtt~jr ai~e (59) oonssoutive
aoath~ on tL~ 15th d~r ot ~ach azid e~ry ~oath, b~ginning a~
~tb~ 15th~ dayr ot July~ 19bg, and ~~ptinuing until the lytu i.~
~of Ju~~ 197b, At wY,ioh ti~,o t.h~ b~slarao~ shall b~co~ dui ~nd ;
,P~:7ab1~.
"This note may be prepaid in ivhcrle or in part aCter one year Fron~ ttie date hereof i~pon payment of a penalty
equivalent t~ two percent ot the principa! su~n prepaicl.
Each installmene payment shall be credited first on the interest due, and che remainder on principal; and interest
shall thereupon cease upon tht principal so creditrd. '
The makcrs and endorsers oE this nott further agree to waive demand, notire of non-paymenc and protest, and
I in ctie event euit shall be braught Eor the collection htreof, or che same has to be collecced upan demand oE an attorney,
co pay reasonable attorney's Eees for making such c- ecdon.
( Deferred payments hereunder shall brar inttrest at the r~te of ten percent. per annum from maturity until paid.
This note is secured by a mortgage of even date herewith and is to be construed an~ enforced according to the laws
of the State of Florida; upon default in the payment of principal and/or interest when due, the xhole sum of principal
and incerest remaining unpaid shall, at the option oE thc hol~en, become immediately due and payable.
~Lb:iv~` i~iiii~i' •i 1~ ~ /SY~'~\
\ L /
~SEA~.~
and shall per[orm, comply with and abide by each and every tht siipulationa, a~;reementa, conditionr and codenante of
aaid promiasory noxe and of this de:ed, then thie deed and the eetate thereby creattd shall ceaae and be~ull and void.
1. The Mortgagar hereby coveaants and a~:
To pay ~ll iu?d ~in~ular t6e pri~ipal and interat ind sther ~am~ of moae' p~7able by ~irtue o( said peomis~ory oute and this
deed, or either, promptly on tbe da7r respectirelr tLe wne ~everallr becomes due.
(b) To permit, commit or su~er no w~ate amd to mainuin tbe improvemenu at all tima ie a state of Eo~ud repair aod ~and~tioo; and
to do or permit to be done to wid premise~ nothio~ tiwt wilt dter or cbanse the uee and ~hsncter of said p~operty or in an~ way
impair or weaken thz scenrity of tbie mertaa~e. And in we of d~e refw~l, ne~lect er inabiliq of t6e~ Mocl6aaor te rep~ir and mainuin
eaid property, the Mortp6ce ns', ~t bis option, make aueL repairs or cawe the sarae to be made, aad adraeee moue~s ie tLst behalf.
(e) To pay all and ~in6ul~r tht taxu, sseesrrnencs, lewiea, li+rbil°uiu, and obliptions oi cvery netnrt on atid deeeribed propeny earh
and every when dut aad ps~able sccordin6 to law, bdore tbz~ bteome delinqueny and to ,dtliver [o tbe Mortas~te on or be(ore March
lSth of each 7ear ta: reteipts evideacin6 tbe p~ymeot of dl Lwfallr impo~ed uxes for the preeedina eslendar year; to indunnii~ tl~e
Mart6a6ee upon hi~ danaad for all tucs, ~~enG and t3far~e~ that m~y bt upon t6is moet6a~e on the indebtedaeee eecured
6ereby, and paid br the mortsaaee, without re6ard to an~ law beretofore ewrted or 6ereafter !o bt enaeted impotia~ pa7rmtnt of the
whole or aay pan thereof upon the Mort~ssee.
(d) 7'o p~~ all and ~iaaular tht cooti, ebar6es aod eapensee, indudin~ lawyen' fed sed abstract cueitre rc~onabll ieKnned or paid at
en7 time b7 the Mort~aaee bec~udr o( the hilure on the p~rt of the Nort~a~or to perform, con~plr with and abide by ach and every
the atipuiatioo~, a~rreemenu, conditions and covenants at sa9d psamiseory note rnd this deed, or either, aed eeery saeh papiaen4 ehali
t>e~r intcreat from date at the nte oi ~en per centum pee u~aam.
(e) It is further eovenanted and •greed b~ widp~ rties t~t in thc event oE a anit beia6 iwtituted tu foredwe tbis moct6s~e, the Mort-
~abet ehall be entitled to ~pply ~t ~n~ time peadiu~ euch toreelo~ure wit to tbe conrt hario~ jurisdittion ebetno( for t~ee s~psintenent
ot a reeeiver oE ~ll and sin~ula~ thm mortsa~ed p~operty~ aod ai all rems, ineamcs, proSta, is~ua aad rexennea tbereaf, fram Miuuaever
eource derived; and thereupon it ie hereby tspresal~ eovensnted and a6reed that the Conri s6all forthwith appoint sach receivtr with
the wual powcn and dntid of reeeivere in like casea; ~ed said ~ppoiniment rhall be ~ade by the eoaR as a mattcr of etrict ri~t to
the Mort6a~ee, and without rc(crence to the adeqwcy or inadeqnaer ot thr valac of the property hereby mort~a6ed, or to the solvency
or inso9r•eney of the Man~ssor6 or any other party defendant to ench suit. The Mort6aRor 6erebf epeeifrcalty waivee tbe riaht to
objcct to the appaint~uent of a tteei~•et se afore~aid and hereby t:pressly eonaenta chat weh appointment shall be made ae an admitted
equity and aa ~ matter of ¦bsolute riRht to t6e Mott~t6ee end tL~1t the s~rne map be doce without notite to the Mortaa6or.
(f ) Ii foreelu~ure proccedinas ehould be i~etituted apimt tht property covered by thia mortga6e upon an~ otLer lien or claim whether
allcaod to be superior or junior to the liers of i2tia mort~t~e, tl~e Mort~a~tc maq et hie optian immediattly upon ineUtution oi surh
suit or daring thc pendency thereof declare this mortrsse and tbe indeLtednese eeeured hereby due and pay~ble foribrvith and may at
its option proceed to forecloee thit mon~gt. ,
~ (E) 7'hst the Hort6a~or will Iceep ail resl and penonsl property now or hercafter encumbercd by the lien of this mort6age ineured
aa may be required from time to time by the Mortaa~~e a~ainat low br 5re, windsrorru and other hwsards, casualtiee and cor~tingeacir,e
for such periode and for not le~a than snch amounts ~s ma~ be ceqnired by t6e Murt6a~ee snd to pay prompdy w6en due all premiume
for euch ineunnce. T6e amounta of inaurance reqnited b) the Mortga6ee ahal( be the mini~num amounte for which said ineurance ehali
Le written ¦nd ie ~6a11 be incumbent upon the Mortga6or to maintein ~neL ~dditional inennnce ae map be neca~r7 to meet and comply
fully with all co-inaurance reqnircmerzu eont~ined ia nid polities to tbe tnd that the uid Mort~~or ie not a cai~enror therenndcr.
Inaurance e6alf be writtea br r company or eompaniea approv~ or desi6nated by tbe Mort6a6ec and altpo lieies ~nd renewalt thrreof
shalt be 6eld bq the Mortgs6ce. All deuiltd ddi~nations b~ t6e Mortga6or whicb are accepted b~ the Mortaa~e and all a~teiuente
betwcen Mortaeaor aod 1YIortgagee rclatins ta invranet, now e~tin6 or heredter made, ehatl be in ~rritinE and nhal! be a part of thie
mortsr~e asreement u fally aa thoa6h ~et torth vtrb~tim hertin ond ehall ~oveea bath portiea hereto ~nd their mrcdaore and ae~iRna.
, tio [ien upon m~ of baidpo lieiee of inauraoce or upon an7 rdnod er return premium which may be paysblt on fhe unceliytion or
termination thereof, s1u11 be ~tiven to otber than tbe Mortpae~e, except by proper endor6ement affiaed to eueb polif7 aad apptoved by
ltortge6ee. Eech policr of inaunnce sh~ll hue aA"ixed thereto a Standard New York Mort6aEee Clpuee without Contribution, m~king
ali loee or losea andtr ench policy payable to tht ;Kon6agca as iw interr.~t ro~r app~r. In the evirnt bny sam ar sume of rooney becomc
payrble therrundcr the Mortga~ee shall have the ~_+tion to reteive and apply tbe ~sroe on aecount of the indebtednt+~a hereby eecured,
nr ro permit the Mort6a6or to reeeive ~nd use it, or anr p~rY tbereof, wi=Lont thereb~ waivin~ or imp~irina ao7 eqnity, lien; or ri6ht
under ¦nd by v:rtne of this mortRa6a In event of lon or ph)sical dama5e to tht mort~ased propert~ the Moriqa6or eh~ll pve imm~-
di~te notic~ theseof b~ msil to the Mort~a6ce and the Mort6r~te may malce proa( ot loes if the same ie not made prompd~ b7 tlse
90CK, ~~U ~~S