HomeMy WebLinkAbout0740 PROVIUED, AI.WAYS, thut af the Mortgagor ~hall pay unto the Mortgagae the indeF~tedneas evu~enecd by a
certain promiesory note of which ihe following in w~de and figure8 ie a true copy to-wit:
~ ,No~e#yay. Not.
( ; - ~ • .1`~ Miami, ~lorida ~ --19 ~5-
I FOR VALUE RECEIVED ~-i•~~ y-*c± ~~-x£~3,~:J~ promisetopay
( io the order of i'i:.iiE~, LI1~'Ci:iIiu - ~
, the principal sum oE ~'~•'u mH{,U;; ;j; ~'[r~ y_~~j,~ s_c~ u:~ f t i)pOL.I.ARS, together wich interest
~ thereon from clace at the rate of ten percent. per annum until maturity, both principal and interest being payable in
lawful money of the United States at '?0~ Roper Building, Miami, Florida, or at such other place as the holders hereof may
~ designate in writing. Principal and incerest payable in instatlments as follows:
l P . ~.'±.J~ tt.. . J~ . . 1 ~ 'i ~ . . . _ ..,i: ~ . Jul,± 1 7LIi~ ~ ;ii;' . _ L~.~. ~
~ i.. :f_ ~ . , . '.1it~ ..;i . i. ~ 1:~, :..1 t . •t _ i~t..11 .
~ . ~
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I 1'his note n~:t}' I~e ~nef>:iicl in ~chc~le ~rr in E,:irt after iinr ~e:u lruin the ~iate hcreut uFwn }?~t}'~nent of a~~enalty.
eyui~:alent to t~.~c~ F~rce~~t ut tl~e E~rinciE~ai su~ii E~r-e}rii~t.
~ Each installment payment shall he credited first on the interest due, and the remainder c~n }~rincipal; and interest
shall thereupon cease upon the prinripal so cret3ited.
The makcrs and endorsers of this note further agree to waive demanci, notice oE non-payment and procest, and
in the event suit shall be brought for the collection hereof, or the same has to be collected upan demand of an attarney,
~ co pay reasonable attorney's fees for making such collection.
Deferred payments hereunder shall b~ar interest at the rate of ten percent. per annum from maturity~ uncil paid. i
This note is secured by a mortgage of even date herewith and is to be const.ued and enforced according to the laws I
of the State oE T'lorida; upon defauit in the payment oE principal and/ar interest when due, the whole sum of princigal
:incl interest remaining unpaid shall, at the option of the hoiders, become immediately di~e and payable.
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(SEAL) I
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and shall perform, comply with and abide by each and ev,ery the stipulationa, agreementt, couditione ynd cov~nantr~ of
eaid pramiasor}~ note and of thi~ d'ed, then thie detd and 4he eets~te therPby cresated ehalt cr,~use s~nd be nnll and void.
1. The ?4tort~agur hereby covenants and aareea:
Ia) To pay ell and einEular the principal and iatereat and othu eum~ of mopey peyable by ~irtue o( eaid pronoieaory nute and t6ir
deed, or either, promptty on iht doye respectivelr the same ~eveeally betoniea dut.
lbl To per•nit, rummit ur ~uHer no waete ¦ud tu [UAItl[!IA tbe improvementa at all ti~es ia r et~St uf guod rcpair ~n~! conditiun; and
to do or permit to L~ done to sai~ premiaea nothin6 that will dter or ch~nRe the uee •nd ehrracter oi eaid property or in sny wa~'
i~npoir or weaken the security of thie mort~,ra~e. And in ca~e of tht refueal, nr6lect or inibilitp o( tHe Mort~6or to rep~ir and mt~intain
sai~f property, rhe !V1ortEaaee v~a~•, at his aption, m~ke such repsin or uuae the eamt io bc nwde, and ~d~anee monere in il~at be6alf.
i,c? Tu pay all rnd sinsulrr the taaee, as6t6lRItRI6~ levies, lisbilitiee, and obli6stioae of esery nrturt on aid dceeribed preperty each
and e~ery~ a~hen due and payrble aceordin~ to law, before thty become delinqaent, and to delive~ to the Mortga6et on or bcfore March
lith o( each •year tax re~eipta t~~idencin~ thc paymcnt of ali lawfully imposed taxea for the precedin6 cdendar year to indemnify the
)tortga~ee upon hia demand for ali tuea, aeseaemcnta and char6ee that may be essee!ed upon thie mort6ase on the indebtednee~e aecured
fiereby, rnd paid by the mortRaxee, without rtgard to any I~~v herrtofore enacttd or hereafter to be ~na~ted ia~poein6 paym~n4 of ihe
w~nole or any psrt thcreuf upon thc MortFaget.
Id) 'I'o p~~ el! and einRular thr. roeta, char~es aad exptnata~ iarludinR l~wyere' feea and aLstract eoete rratonably incurred or p~id at
an~ time by the liort6rgee because oF the lailuee on the part of !he ~1oetRs~or to perforen, con~ply wit6 •od ahide by r.ach and every~
the etiyuiations, ~gtementa, conditions ond co~~enante o( eaid promieeory note ¦nd thie deed, or eit6er, aad every eurh pay?nent ehall
bcar interest frorn ~Lte at thc rate of ten per centum per annum.
le) It is further co~enanted and aEreed by said parties that in the e~~nt of r euit bei~R inelituted to foreclase tLie mort~aEe, the Murt•
Ragee shal! trt entitled to epply at ¦ny time pendiu~ ench lorrcioeure eait to the court haviag jurisdiction e6ere~of for the •ppoenUncnt
of s recciver of all and ain~ular the mo~t~ged propeny, an~ of ~11 renta, incomee, pro6ts, issuEa and revenute thereof, from whataoever
source derived; and thereupon it ie hc~~by exprcealy covenaated and s6rer~ that t6e Court ehall (vrthwith appoint each receiver with
the ueual powere and duties nf rc~eivers in lilc~ cae~a; ~nd eaid appoinmient ehall be made hy tht court ae a mattcr of etr+ct riKht to
rhe !1lortgagee, and rvithuut rrfrrenre tu the aderyuacy or inadequaey o~ the ~alue of the property hereby mortgnsed, or to the eoh~ency
or inaol~~ency of the ~tortga~toca ur any other party defendant to 6Uff1 Euit. The ~lortgaKor 6ereby speeifically wsivea the ri~cht to
oGject to the appointment o[ a reeei~er :IF aforesaid ¦nd ~ereby ecprresly con~enta that ~nch appointment ahall bc ~nade ae an ad~nitted
eyuity and as a matter of ak~.~,lute ri~ht to the MottEaRee •~d th~t the name may be done withuut note~e to the !Kort~ag~r.
t(i Ii fore~lueure procr~dinRa should be instituted a~ainst the property cozered ~y lhia mbngage upan any other lien or ctaim whether
~IleRed tn he superior or junior to the lien of this mort6.aRe, the :41ortRag~e may e~ hiE option immed'sitely upan 1f16IlIUU0~1 of su~•h
~uit or durin}c thr pendenry thereof declare this n~ort~a~e .id tbe indeLtednPS; ~sr~urcd h~reby ~lue snd pay~bie for9hwith artd ma}' ~t
ite option procPCd to forecluae thifi mort~age.
(R1 Thnt the ~Iort~aFor will keep rll rra! and ptreonal propr.rtp now or herrsfter ?ncumbrred t~y the lirn of thi~ rnortRagr insurrd
a~ ma~• be fC(~U~fP(I irons tim~ te~ time by ch~ MoRfagtt •~inet losa by 6rs, windsturni ~nd othtr hazards, ca.ualtieE and r~~ntinRenrir-E
for euch Exriud6 snd for not leas than such amounta as may he requieed by d~e .'+4ortEagee and to pay prompdy e+hen Ju! all prPmiume
fo~ eu~h insurance. The amounts of ineurance required by the Mortqagee ehall be the mini~num amounte Cor which eaid ineurenee shall
be wriuen and it ehaN be incumbent upon the ~lortgaaor to mainitain such additiooAl ineuranc~ ae may be neceesary to mert and con~ply
fully with sl; co•insunnce reqairemrnts cont~ined in said policiee to the end that the eai~ 4lortg~gor ie not s co-insuror ther~undcr.
Ineurance sha1F be written by a company or rompaRiea approved or deei6nated by ihe 1~'Iortga~ee and all policie~s and renewal~ therFU(
shali he held by the ':liortgagee. All detailed daii~natiane b7 the ~iortEaKor which ore aecepted by thc ;Nortgagee en~1 ail a~ree.n~ents
brtwecn MortFagor aud Mortga~te relatin~ to ineuranee, aow e:ieting nn c~reyfter m~de, ehall be in writin~ and ehall br a part uf thie
mortgage sgreerncni ae fully ae though eet fnrth verbatim hertin Nnd ehall govern both parties hcrcto and thcir suttrxsorF and aeeiRne.
\o lien upon eny of Eaid policira oi insurance or upon any refund or retuen premium .vhich may be payabie ou the cenc~llation or
trnnination ther~af, eha[I bc Fiven to othrr than the '.~Iort~e~ee, exeept Isy proper endorEemrni effixed to euch policy and e;.proved by
)tortgaFre. ~:ach poiicy of inaurence ehall hexe affixed thereto a Ftandyrd tiew Ynrk l7ortgaRee Clause withont Contribution, n:alcinF
xll Iose oe lore~s nnder ~uch policq paysble to the Mortxagee aa ite intereat may appear. In shc cv~nt any eum or euma af money be~omr
payahle therrunder the ':4SortFa~ee aha? ha~e the option to rective. and epply the ssme on a~rount of the indebtednees herek~y ercurezl,
nr to permit thr MortFaRor ta receive ond use it, or any part ihereof, withoat thereby waivinR or impeiring anp eqnity, lien; or ri~ht
undFr end bp virtue uf this mnrtRaRr. ln rvent of loes or phyai~al dar.iaR~ to the mort~ea~C~d propFrty the llort~aqur ahall ~eve irz:mr-
~liate noticr therroF b~ mail to thc HOft~{AKCP aud the :lfortEeRce me}~ makc pruof of loss ii the same. is not m~de nromptly by thc
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