HomeMy WebLinkAbout0981 PROVIllEU, A1.WAY5, thAt if t6e Mortga6or shall pay untu the Mortgage~e tl~e inde~t~'tluee+e r•vidrt~c~•~l b~ a
ceriaiu promiaeory nate of whieh the following in worde and fi~;uree ia a true copy to-hit:
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~ ;-__1_,~$tyQQ ~iiami, Florids_ , _19 I
I FOR ~':1LUE RECEIVED _ N~~ jnintlx, gn3 sevarallv ~7rost~isetopay
! tu the o~det of_~i.L_ii._~ ~~t ..1~iiJ ~r +r .r w_-~_- + -
' che princi~~al sum of ` '1'ibU;,i L. ~rY }iL~NDlt~_ ~'L`~"1~ DOLLARS, together with interest
~ thereort frc>~n ~late at che rate of ten percent. per annum until macurity, bo[h principai aiid interest being payable in
' IaH~Cul money of the t;nited States at `?0~ Roper Building, Miami, Florida, or at such other pl.~ce as the holders hereof may
~ ~iesignate in writiiig. Yrincipal and i»terest pa~~able in installments as follows: i
` . i'711x•ty- i~ d v ca t~i 35 •~lt1 j;~~ :a: pc~ r~nt12 ~G(;.Lt3i11Tit; r~~. ~
~ Lh~ 15th day oF Jttly, 196~, ~?nd contlnui~tg ati the ~
~ 15th ciav o! o~?eY, auc, ev+~~~; ~~~s~th thereafter usstil
i ~ztd in .~ull.
~ 1'his nute ni.iy I~e i~re~r~i~t in «•hc~le ur in E~art aftrr une• vear Irimi the ilute here~~l u~,~~n ~~:i}ntrnt c~! a ~>en:ilty
~ et~uivaient te~ t~cu E>ercent ~?t the E~rinciE~al suu? i~reEr.iid.
Each installment paymenc shall be creciited first on the interest due, and the remainder on E,rincipal; and interest
shall thereupon cease upon the princioal so credited.
~ The makcrs and endorsers of this note further agree to waive demand, notice of non-payment and prorest, and
I in .the event suit shall be brought for the ~oiiection hereof, ar tht same has to be collected upon demand of an attnr~iey,
ca pay reasanable attorney's fees for making such collection. ~
Deferred payments hereur.der shall b?ar interest at the rate oE ten percent. per annu~n from maturity until paid. ~
'I'his note is secureci by a mortgage of even date herewith and is to be construed an:~ enforceci according to the laws ~
oE the State oE Florida; upon default in the payment of principal and/or interest wher. due, the u:hole sum of princpal i
ancl interest remaining unpaid shall, at the option of che holders, become immediately due and ~ayab]e.
~ _ i:1_, `v' ~ :;:i _ (SEAL)
~ - --~L~ ----(S]EAL)
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and ehall perform, comply with and abide by eaeh ~tnsl every the gtipulatione, agreernenta, conditionB and covenante of
said promissory~ note and of thia dr.ed, then thie deed and the eetate thereby~ created ehall ceae~e and be null ~nd void.
1. The Mortgagor hereby caveuants and agreea:
(a) To pay all and sin~ulsr the principaZ aad iaterut ~nd other sum~ of maney payrblt by ~irtue of eaid proniiesory nute and thie
dted, or tither, promptly oa tht daps rapeetively the same ~everalty betomea due.
(b) To pertnit, eomKnit or su~er no wrate and to maiatain the improvements at ~11 timee ia a etate ob 6uod repair and cvnditiQn; and ~
to do or permit to be done to aaid premiaea nothin6 that wi? dter or c6an6e th+e use ~nd eharacter of .a4d propertr or in aoy way
irnpsir or weelcen the security of thia mort6a6t. And in cast of the refussl, ne6leet or iaabilitp of the Mott~s~or tn rep~ir and msintsiu
aeid propecty, Iht Mort~6ee ~ay, at 6ia nption, m~ke such tepaire or cause the eame to be made, aqd ~dvance moneye in that bebaff.
(c) 1'o pay al! •nd sin~ular the taxca, ~ae~aementa, levid, liabilitice, and obli6atioaa of every nsture on wid de~tribed preperty eaeh
and every whtn due nnd payable accordin6 to law, before tbey become delinquent, and to deliver to the Mottgsate on or before March
lath of each year tax reeeipta e~-i~kncinE the payment of all latviully impo~ed taxea for ~he preeedin6 calendar Yar; tu indcmoify the
;~tortga~ee upon his demand for atl tazea, ~eaeaernenta and e~ar6~ thai may be asses.ed upon tl~ia mon6s5e on t6e indebtedneae eecured
, hereby, and paid by the mortp~aRce, without regard to any law beretofort enacted or her~aft~r fA be enacted lmFM610~ ~i]111fOI of the
wholc or any part theroof upon thc MortKagec. ~
(d) To pay all •nd •ioKular the cc,ets, rharRea aad e:penees, iadudin~ lawyere' fcea and abetract costa ressonablp incurred or paid ~t
any time by the Mort6agee because of the failure on tht part ot the MortRaRor to perfa~cn, cowply with ~nd abid~t by tach and xvery
the etipulations, a,~reementa. canditione and cavcnante of said promieeory note ~nd this de~ed, or eit'her, and evtry eucb pay~nant e}tali
bear intereat from date at-the rate of ten per centum per snnum.
(e) It in further covenaated ¦nd aFreed by wid p~rtiee tb~i in tbe evcnt of s Euit bxinE inetetuted to forcclost ihie mort6a6e, the itort•
~aget ahall tx entitled to apyly at any timt pendiu6 anch forcclosure aetit to the caurt havin5 jurisdiction ehereo( fur t6c sppointmcnt
of a receiver o! all and einsular the mort~a~ed property, and of dl rents, incomrx, profita, iseura and rcvtaura thereof, from wlutsosver
eourco derived; and t6ereupnn it ie hereby expresel~ suvenanted aad s6reed th~t tbe Court s6~U Eorthwith ~ppoim eaeh reeeiver with
the usual powere and dutiee of receivers in like caece; and said ~ppointnunt ahalt be made by tbe court aa a matter oi strict ri~t to
the Mortt,agee, and without re(erence to the •dequacy or inadeqwey uf the value of the property hereby morrFa6ed, or to the eolvency
or inaolv.ncy of the A'dnrtgagocF ~r any other party d'fendrnt to su~h Euit. The ':1fiort~,ra~o~ hertby epecifically waivice the ri~ht to
objcet to the appointment of a recti~er ae afo~eeaid a~ed hereby acpresely eonnents that enth appuinttnent ehall be made as an admiitted
eyuity sad aa a matter of shsolute riRht to the Mott~aqee aud tht~t the Eamc may be done wiihout aotice to the Mortga~ar.
If forecl~EUre pracredinEs ~hould be inetituted ~6airut tht property covered by ihie mortga~e ugon any other lien or claim whccher
alle~ed to be superior or junior to the lien of this martRa~e, the; Mort~z~~ee niay et hiin optian emmed'e~tely u~on inetitution o[ euch
suit or durinp~ the pendeney thereaf declare this martEase and the indebtednesE eecured hereby due and payable forthwith and may •t
its option ~fOffffl IO fOfPfIUEP. 1}116 IIIOiL~,B(~~.
(g) 'I'hat the ~tort~ta~or will keep all real ¦nd ptrdona( property now or hrrrefter encumbered by the lien af thee mortRa6e insurrd
ae ~nay he rc~Euirr~3 frorri LIITIP to ti~ne by the Mort~agee r6ainat lvss by fire, windstorro and other hazard~, ca6ualtiee and contioqenriea
for such periode and for not less than such amountb aa m~y be rcquired by the Mort~agce and to pay prumpdy wh:.n due ail premiumE
ior eurh insurance. The amounts af inaurance reqLired b~' the Moetgagee Ehall be the n~inimum amounta for which aaid insurance shall
be ~vri4ten snd it ehali be incumbent upon the Mort~a6or to maintain Ruch additional ineuranee ae ruay be necesaary tv mert and conip{y
(ully with sil co-inaur~nce requirements ~ootained in said polieiee to the tad that the eaid :Nortgs6or ie not a ro-ineuror thr.reunder.
Inaurance shalt- be writtsn by a, company ar companies approved or dcaisnated by the Mortga6ee and all policir8 aad rentwala thereof
ehsll be held by the 1Sort~aEet. All detailed deai~nations b7 the Mortge6or which are accepted by the Mort6aa~e and all aFrctn~enta
between Mort~agor and Mortqagee relatinR to ir?eurance, now e~cietin~; or herwfrcr mrde, shatl be in writin~c a»d ehsll be o part of thie
mortgaqe s6reement aa fully ae thouEh set forth verbatim herein and rhal) ~avern both parties heroto and thcir socceaeors and sesip.ne.
tio lien npon any of byid policiee of ineuranee or upon aoy refund or return premium which may be payable oo thr cancellation or
tennination thereof, ahaU be Riven to other than the Mort~r,aFee, ezcept by proprr endorsemrat at~'ixed to such policy and approved by
iturt~aFee. F.sch policy of insurence ehslt heze af~'ixed thereSo a StandArd N~h York MortgaFee Cl~uee withont Contribntion, maicin~
ell lose or lossee under Avch policy paysble to the iCort~agee u+ ite intereai may appeaa In the event any eum or sume of money beromr•
payable thereunder the MortFeRee ahall hav~ the option ta tective and apply the same on ar~ount oC the indebtednese hereby eccured,
or to Getmit the tilortKaRor to receir•e and use it, or any part therenf, witho~ft therehy waivinF or imp~iring any eqvity, lien; or riRht
un~j~r 9nd by virtue of thie rnortRa~r. In rvent vf loee Of p6yeiral danim~e t~ thr mortFaE~~ ~rroperly th~ MortRagor Fha11 R~v~ immP-
,liete a~otice therrof 4>> mait to the Mortdagee ancl the MortgaRee may makc pr~~of of loss if the same is not mrde promptly by thc
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