HomeMy WebLinkAbout1985 PROVIUEU, A1.WAY5, tlut ii the Mort6a6or ~1ull pay unto ~he Murtgagee the iaJtbtedneee ewidenced ~ty a
ccrtain prnmiesory notc of wbich the followin~ in worde and figurea ie a srue copy to-~it:
i ~/a~y~ys /yo~i
s ~t4TS+~ Miami, Florida a~ _ 19 ~
Fl_)R VAI.U~. ~tECE1VED T~s_,.~~ ¦ 'r promisetopay
co the order of ~ _ ~Ra-~ - ~ -
i che principal sum of DOL.I.ARS, together with interat
i thereon from ~late at the rate of ten percent. per annum until maeurity, both principal and interest being payable in
lar.•ful money oE tlle United Scaces at ~0~ Roper Building, Miami, Florida, or at such other place as che halders hereof may
~ ciesignate in writing. Principal and interest payable in installmenu as follows:
; Thi~jr~-tYrr t~3g.oo) De3laan ar aoath beg
; an t~?e lst~ ~a~? oi ~~+~rt. 1~5. aa~t aoati~aa ~
~ fihe ~5th d et tseh end sT~s~r ~+onth therea~er ~aatil ti
; p~s,i~ ia t~. ,
~ ~ .
'I'his nute in:ty I~r ~~re~~ai~l in ~~•h~~1e ur in E~.ut after unr ye:u t~un~ tl~r ~iatr iierec~f u~~~~n ~~ayz~~ent of a E>enaley
eyuiv:ilent w t~ti•o ~xrrent ut the E~rincij~al suni ~~repaid.
~ I:ach installmene payment shall be credited first on the interest due, and the remaincier on Nrincipal; and interest
( shall thereupon eease upon ~he prinripal so credited.
The makers and endorsers of this nate further agree to waive demand, notice of non~paymenc and pratese, and
in che event suit shall be brought for the collection hereof, or the same has to be collected upon demand of an actorney,
to pay reasonable attorney's fees for making such collection.
Deferred paymencs hereunder shall bPar interest at tht rate of ten percent. per annurn from maturity untal paid.
This note is secured by a moregage of even date herewith and is to be construed ar~3 enforced according to the laws
oE the State of ~iorida; upon default in the payment of principa.l and/or interest when due, the whale sum of principal
ancl incerest remaining unpaid shall, at the option oE the halders, betome immediately due and payable.
J~~11.1VY -J • 1 y JL]A~LI11 _ _ (SEI1L,
v _~tii.i~ ii'i ._'L 1':v Li ~:~L.Lir _ ~SEAL~
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pnd ehall perform, comply witln and abidt by eaeh and tvery the atipulstions, a~reementa, conditi~na and eovenanta of
eaid promiaeory note and o( thia de:ed, then thie deed nnd the drtate thereby cmeted ehall ceaae and be nnll and void.
1. The Mortgagor hereby covenanU and aareea:
(a) To p~y all ~d ais~nlar the principal and i~erest aad ~d~er ~nm~ et m•ae~ payabl~ by ~~irtuc of aaid promiseory oute and thi~
deed, or either, prompely oa tlu dars rapeetivel~ tbe s~me ~even117 becomea dve-
(b) To pcrmit, coaomit or sra~er no waste aed to araintain tLe imprvvemen4 at all timea i» a atate of ~uod repair aad conditiQn; and
to da or pertnit to 6e do~e to aid premues aotbiu tb~t will dter or e6an6e tLe ase and chsracter oE wid propert7 or in an7 w~Y
impair or ~rea~en the aecnrity of tbis mort6sse. ?~ee~ in eue of tbe refaaal, ne~leet or ieabiiity of tbe Mert~saor to re~;r ~n,d maintaiu
eaid propcrty, t6e Mortga~ee w~. st hu eption, mske sueh repairs or came t6e oame ts be uude, awd sd'+awx mone7~ eo tbat bchali.
(e) To pay all and sin6ular the tsxa, wesrmentt, levies, liabilitiea. and oblisauoos oi ever~ natore on s~id de~eribed pr~perty each
and every when due aad payablt sccordina to law, beioce t6e become delioquent, iwd to ,delivet to tl~ Mort~~ on or before M~rch
15t6 of each ~ear tax reeeipt~ evidcneing t6e pa7ment of d! ~ull~ impaied taxet (or the preoe~n~ ealend~r yar• to indesneiir the
Mo~rt6a6ce upon bi~ dcnnaod !or all taxee~ auerrmcnts aod eharrer that truy be asataaed upon tt~u moA6a~e on the indebtedae~s ~ecured
hereby, and paid b~ the moet6aRce, withont re6srd to any law loeretofore ea~cted or hecesfter to be en~cted impo~ins p~Tmeot oi t6e
whole or anr part thereof upon the MartEaEee.
( d) To p~r all aad sin~ilar tbe coeu, charaes and e:pen+c~, indudin~ law7en' tees ~nd abetnct coqs rcasonabl7 incarred ar p~id at
~n~ time br che Mor~s,6~ bcrruse of the failnn an she psrt of tht ~3ort6a8ur to perforw, coeupl~ witl~ ~nd abide br esch and every
the ~tipulatioo~, a6reemenu, eonditions and cove»ants oE taid promissor~ note and thie dted, o~ eitLer. aad every suc6 p~~ment sball
bcar intere~t from date at tl~e rate of ten per centum per snaam.
(e) It ia fnrther rovenauted aad aFreed b~ ssidpa rtiea tL~t iu the evens of a svit beie6 iertitoted to foreelose ihi~ raortp6a, tbe Mort-
6adae shall be cadded to sppiy at an~ time peudiu6 soc5~ fareclasur'e snit ts tbe esnrt havie6 jarirdiclion clrete5of tor tLe app+io~ent
of a reuiver of dl wd rin6nl~r t1~e mort6a6ed Qroperty~ and a[ all rtms, into+eet, pr~fib. i~sua ~nd rtven~ t6ereof, trom v+L~wever
~ource derived; and thereapon it i~ hcrebr expreai7 e~ve~uated ~ed a6recd th~t tbe Couri ~ball letthxith appoiat sach receiver o+ith
the usnal powen and duties o[ receiven in like ca~; ~n~d taid appointmeat s6~11 be made br tbe tonrt ae ~ mrtter oE strid ri66t to
the Mon~asee, snd without rcterence ta the adequacy or in~deqnaty of thr value of ihe propercy hereby marr6.~ed, or co eh+e sol~ency
or insalv?,ney of the Mort6aEora or ~ny other p~rty defend~m to such 6uit. The A+Iort~sor hereb~ spesi6eally waivea the ri~t to
object to the appuintment o[ s recei~•er ae aforesaid ~nd hereby apre~+ly co~eats that saeh appointment shall bc made as an admitYed
rquie7 and ae a matter of abeolut~ ri~ht to t6e Morp~qee ~nd t~t the same rna~ be done withovt ootiee to the Mort6a6or.
(f ) I( foreeloaure procecdin~s ehovld be inetituted ¦gainst the propetty covered by thie martaa~ npos aor other litn or claim whtther
¦Ilesed to be cuptrior or junior to the liea o( thu martaase, tb~e Mort~a6ee may ai hie option immtdi~ul~ npoa inetitution of euch
auit or durina the pendeney theroof declare tbl6 1U61Y61`t and tbe indebtedmea treured hereby due and pqable forth~vith snd miy at
its option proceed to forcclose thia cuort~a6e.
(6) That the Mort6a~or will L-eep all real and personal peoperty now or hercafter rneumbc~~ed br the lien aE thie mortRa6e ineured
at+ mar be reyui~ed frott3 time to tiine by the Mortaa~x ssainst loss by firq windatorm ¦nd other hasards, ueu~lties and contin~eociea
(or auch periods and for not leae than sue6 amo~mts as ma~ be requrttd by the Mort6agee and to pa~ promptly v+6en dne all premiume
for ~urh insurance. T6e ~moun?a of ;~nnn~e ~eqaired br ehe Mor~6.~ fhdl be the minimu~n amounce (ur which pid ioeunnee s6a11
be written and it s6a11 be ineumbent npon tbe Mort6a6er to mrintaie rneL edditiae~l iaanraince s~ map bt ntcdsan to meet and con?ply
(ully with all co-ineuraace requirementa eonuioed im Mid poliries to the ted that tbe ssid Mort6asoe is not s co-inanror thereunder.
Insurance ahwlF be written br s compans or eompenier app~oved or desisnated by t6e Mort~s~et and a{l~policies aed renewals thereoE
shall be held by the Atort6a6ee. All detailed de~i~wtioos b~ the Mort6aaor whic6 ace ~eeepted by the Mort6asee and s11 a~r.e~cntn
bctweea Monaa6or end Mortsa~ee roiatia6 to i~wnrancs, uow ~zitti»g or horeafter mrde~ ehrll b+e in writin ~nd ahall be ~ part of thie
~zit
mort6sae a6reement a fally ~a thaash ~et (orth ve~b~tim herein ~nd s~ll 6overn both ptrtiea hereto and ~ir wcceaors and sesiRna.
No lien upon a~ of saidpo lieiea ot icuuronce or npon m~ refnnd or return premiam which ma7 be pa~~able oa t6e canceliation or
termination thereot, ~Lall be 6iven to other thau tbe Ddott~6ee, e:cept by praper endorsemeet af6xed to suel~ polic' ~ad approved by
ytort~aaee. F.ach policy of 'snsunnee ehrll tuze a~'i~ced thereto r Standwrd New York Mort~a~5r.e Cl~aae ~ritleone Contribntion, m~kin~
all loea or loaees nader euch polic~pa yable to tbe Mortaagee a~ ib iMere.st ma7 aPPear. In tbe eveni any sum or sums of ~~oney b'eomc
payablt thereunder the Mortp~~ee ~hatl have the opteoa to reeeive and a~?ply the qme on reeonnt of the indebted~ss 6erebr eetured,
~r to pecmit the ~1ortEasor to rcceive and usc it, or an~ part tbexeo(, withont thereby waivin6 or impairina aee~ eqnity, lien~ or ri~t
under ~nd by virtue af this mast~a~e. In evens of low or pby~ical dawa6e ta the mortpe~ed propertl ube Mort~a6or shall ~ve imme•
di~te notice thereof by m~il to the Mort6a6et and the Mort~aRee may n~ske proof of losa if the q.nt ia not made prompt{y b~ the
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