HomeMy WebLinkAbout0557 PRQ'~'IDED, ALWAYS, chae ii the Mort~agor ahall pay unta thP Mortgage+e the indebtednettis ~:videnced by a
certaiw promi~eory note of' which ihc following in warda and figurea ie a true copy to-wit:
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~ 1.6~'S.O@ Miami, Florida MdT 1~ ~ 19 .~j
~
~'OR V.4LUE RECEIVED I promise to pay
co ehe order cr i~:CirtiZl:i ~~s~~'IT~::i an~ i:T,IUA:3~:'x:i ;dtLIii-Ilr~:yi~i~i ;sife _
~he principal sum of
01(~ TKOLi3~, 3IY 'IiLT~i~tE~'J,S~V'F,.1~(__ ~I+'I1~7LLARS, together with interat
chereor. hom date at che rate oE ten percent. per annum until maturity, ~oth principal and interest being payable'~S
lawEul mone}' ef the United States at `?03 Roper Building, Miami, Florida, or at such other place as the holders hereof may
designate in writing. Principal and interest payable in irtstallments as foliows:
1~'arty (~#Q.00} Dellars psr aoat,h, beiiaaia~ os~ th~
; 13th dap o! .Tuly?, 1q6~, ~d aoatiauiai ~ th~ 1,~th ~
daY of eac~ aad ~rer~? ~ath Lh~r~sft~r. uatil paid -
; ia !1~ 1.
'i'his note may t~e F,rep.+i~l in ~~•hole ur in ~~art after one ye:u~ fr<~m the d;?te l~ereuF u~>on ~~ayn~ent of a penalty
' eyuivalent w iwo ~~erceut ut the princi}yal su~u E~rep:iid.
Each installment payment shali be credited first on the interest due, and the remainder on }~rincipal; and interest
shall there~i^n cease upon the principal so credited.
The mak~rs ~nd endorsers of this nnte further agree to waive demand, notice af non-payment and ~rotest, and
in the event suic shall be brought for the collection hereof, or the same has to be collected upon demand of an attorney,
to pay reasonable attorney's fees for making such collection.
~ Deiened paymencs hereunder shall bpar interest at the rate of ten percent. per annum from maturity until paid.
This note is secured by a moregage of even datt herewich and is to be construed an3 enforced according to the laws
of the State of Florida; upon default in the payment of principal and/or interest when due, the whole sum o: principal
and interest remaining unpaid shall, at che aption of the holders, betome ammediately due and payable.
:t3•:.~~i:, ~i~. T~~~:i (SEAL)
(SEAL)
and shall perform, comply with and aLide by each and even• ~ihe ~tiQulatione, agreementa, condition8 and covenanee of
eaid promiesor}~ note and of this dr.ed, then thie de~ and tht eetate thereby createcl ehail ceaae and be null and void.
1. The Mort~agor hereby coveuante and agreea:
(a) To pay all •nd sin6ular the principal and interut and ather aum• of moaey p~yabie by ~inue o! said pcomisaory nuto and tbie
deed, or either, prompdy un the dayr rdptctively the samt ~ev~ally beeomes dut.
(b) To pennit, commit or su~er no waate and to cnyintaia tbe uaprovemen4 rt ~U timea in ¦ etste of Euod repair ~nd conditien; +~nd
to do or permit tu be done to wid premiete nothin6 that will dter or c6an6e the uee and cFuracter of wid property or in any w:y
impair or wealcen the security of thie mort6a6e. And in u~e of tlie refueal, ut6lect or ieability of t6e tNart~,ra6or to rap~ir and maintaio
aaid property, che Mortaa~ce ~~y, at hie option, mafce euch tep~ire or cause the same to be made, and advance moneys in that be6alf.
~rl 1'o pay sll and ainRular the taxee, sases~mente, leviee, liabilitiea, •nd obliRatione of tvery nature on said dceeribed preperty each
and erery when due and payablt accordina to law, before tbey become delinquPnt, and to .delivtr to the Mortgaget o~ or be(ore March
15ih of each year taa rettipts evidencin~ the paymept of ~Il law[ully impoied taxes for the precedin~ tslendac year to indemniir th~
ftortgaFee Lpon his dtm~nd for all trxea, aeseaeneents and ehar6ee that may bt ¦seeseed upoh ohi. nnon6s6e on the indebtedneee etcureJ
hereby, and paid by the mortRaRee, without re6ard ¢o ony law heretofore enacud or her~after to be enacted i~posin~ psynient of the
whole or any part thcreot upun thc ;HortRaqet.
(d1 To pay al! and singular t6e coetc, char~tts and expensea, i~cludin~ lawyers' fcea and ¦66trict toste reaaonably incurred or paid at
any time by the Mart6igee bec~uae of thr failure on tht paR of the 4fort~taFor to perform, tomplr witb •nd abide by tach and every
the etipulations, a6reements, ennditions rnd cn~•enante of eaid ptomieeory note ~nd this dred, or eit6er, and every eurh payrnent ehall
bcar interest from ciate •t the rat~r of ten per centum per annum.
fe} It is further covenanted an~i agreed by eaid partiea t6at in the e~ent of a Euit beia~ instituted to forecloes thie mortsage, the fSort-
Ragee shall tre entided to apply •t rny time ptndiug eac6 forecloaure sait tn ehe eourt hrvin~ juriadiction eheraaf for the sppointment
of a receever of all and ain6ular the mon6a6ed property, aad of all renta, incomee, proSts, usues and revtaue~ thereof, from whatacever
eource derived; end thereupo~ it ie hcrehy exprc~sly sovenanted and a6reed that the Court e6all forthwitta appoint each eeceivar with
the uaual powere and dutiee of rcceivers in lilce caeee; and wid appointment ehall be made by the court aa a matter of etrict ri~ht to
the '.4fort~agce, and without reference to the adequacy or inadequaey of the velue of the property hereby mortEa~ed, or to thr eolvenry
ur ineolvency of the biartga~ors or any nther party deitndant to wch suit. 'i'he :Nort~aKor hereby epecifically waives the right to
object co the appoint~nent of a re~~iver uE aforr~aid and hereby aepreeely con6enis ihat eoeh appointtnent ahall be ~nade ae an admitted
equity and ms a matter of ahacrlute riqht to the Moct6aRee and t6~e the a~me may be done without notice to the Mort6a6nr.
(f) If forerloeure proceedinEs ahould be instisuted a~ainst tbt propertc coverod by thie mortga6t. upon anr other licn or claim whether
alleged to he superior or junior to the lien of thia mort~ase, the I4Sort~a~re may at hiF uption immedi~tely upan institution uf euch
euit or durinR the pendency theteof dtclare this mo~tFaae and tbe indebtedness eecured hcreby due and payable forihwith and may at
ite optinn prorre~! to fnrerlose thie ~nortFage.
(R) That the '~fartg~~or wiil keep all real and personal property now or her~~fttr encumbcred by the licn oE thi~ mort~eaFe insu:ed
aa ~nay }~e required Erom tirt~e to ti~ne by tht Mortga~ee aEainet lo~e by fire, w~indetorm nnd other hazerd~, ~aeualtiee and c~intinaenciPe
for such pcriods and fo~ not lees than such amounta as may be required by d~e Mor;gagec and [o pay peon~ptly when due a!I premiums
for eurh in=»rance. The amuunts of inaurenee reyuired b~ tb.e Mortqagee ehalt be tht minimum o~nounts for which eaid inaurance shall
LF wriucn and it ehall be incumbent upon the Mortga~or ta maiotain suth a~dditional ineurance ae n~ay be nereeaary [o meet en~~ comply
fully with nll co-innurance ~equirements cootained in said polie6te to the end tbat the wia Nortp;egor ie not ~ co-inauror thertunder.
Ineurance shslt- be wretten by a company or comp:niea approved or desi~nated by the '.Viortgagce and all policiea and renewals thereof
eheil t~e held by tht blortsaEee. .4i1 deuiled deei6natiane b7 the Mort~a6or which are aecepted by the ~iortgaget and all agreementa
l,etween Mort~a~or and Mort6agee rcl~tinK to inenr~nee, now e:ietin6 or hereafter mrde, ahall bc in writinK •nd eha.l t?e a part cf thie
mortgage •greement ea fully ae thou~h set forth verbatim htrein tnd ehaU 6ovt~n both parties hereto and their sncceseors and 9e81~718.
\o lien upon eny of aaid policiee of ineura~ec or upon •n7 refund or return premium which may be paya~,le on the canccllation or
tennination thereof, ahall be Fiven to other than t6e Mart~aee, except by proper endorsement ~tFixed to Fuch policy and approved by
~tortgaRee. Each policy of inaurance ehell haxc afT'ixed thereto a Standrrd New York ~lortgrKee (:Iruee withont Cootributioa, malcin~
ali losa or lu~ata nnder auch poliey payahte ro the ':VIo~t~agee ae ite intereet mey apptar. In the event arey eum or eume of ~noney bProm~•
p~yable thercunder the MortgaRee ehall have the option to reeeivt and apply the eame on ecroemt of the indebtedneea hereby aecured,
or to p~tmit the MortRagar to receive and vee it, or any part there~f, without thereby waivinR or impairinq ~ny equity, lien~ or riRht
under and by~ virtue of thie mort~caFe. In cvent of loee or phyei~al dama~e to thr mortpa~tec! prapcrty tht MnrtRaRor ahall ~~ve imme•
diate notice thereof bp mail to chc ~tort6agee and the ,l~iortRagee may make proof of loas if the aamt is aot mnde promptly by the
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