HomeMy WebLinkAbout1993 P$OYIDE,D` AL~AYS, tbst if t6e Mart~o~r ~h~ll pay unto the Mortaa~ee the indebtedneee evidenced by a
aertaiw promiNO~s~ note of wl~ich t6e followin; in Mrards and 6aures ir a tnie capy tawit:
~
. Mo~`yoys /Yo~.
i-,l-~.~ Miami, Florida l~~t 19
FOR VALUE RECEIVED promisecopay
to the o~der of_ ~A~B I:L~I~a ~ ~ s M 0
che principal sum o OLI.ARS, togethtr with incerest
thereon from date at the rate oE ten percent. per annum until mat~rity, both principal and interest being payable in
I lawful money of the Uniced Scates at ;03 Roper Building, Miami. Florida, or at suth other plact as the holdcrs hrreof may
daignate in wricing. Principal and interest payabte in in~tallmcnts as Eollows:
I
!1~ ~=3i~.tl~1) A~3.l~i'~ p~r ~II'~ b~,63an1r3s OII t3tt
15t~t da~ vt @~~S?. 19i~i, a~d ou th~ 1Sth I
aq~? os ..e~ ,~a r~t~h tl~sa~.srt.~ ,~tttsi p..ta ia l~a.u.
f 'I'his note may be E~reE,aicl in ~~•hole or in pa~rt ~fter une rear iru~n the date hereot u~~un pa}'ment of a penalty
` eyuivalent to ~w~~ percent e~t the ~?rincipal sum ~~re~~aid. I
Each installment payment shall be credited first on the interest due, and the rerriainder on E~rincipal; and interest ~
~shall thereupon cease upon the p-incipal so credited.
The makers and endorsers of this nott further agre+e ta waive deinand, notice of non-payment and protesc, and ~
I in che event si:it shall be brought for the zollection hereof, or the same has to be collected upon demand oE an a[corney,
to pay reasonable attorney's fees for making such collection.
I Deferred payments hereunder shall br:ar interest at the rate of ten percent. per annum from macurity until paid.
This note is secured by a mortgage of even date herewich and is to be construed an3 enforced according to che laws
of che State of Florida; upon default in the payment of principal and/or interest when due, the whale sum of principal
and interest reniaining unpaid shall, at the option of the holdtrrs, bccome immediately due and payable.
F~~I~i 'L~II•~13 (SEAL)
ST~;I,EY ~I~iB (SEAL)
aad ahall perform, comply with and abide by esch and every the ~tipulatione, aareernenta, conditions and covenanta of
eaid promissory note and of thia de~ed, tben thia deed ~ad the eatate thereby created ehall ceaee and be nnl~ and void.
1. The Mortgagar hereby oovenants and a~rcea:
(a) To pay all aed sirsnlar tbe priicipal ~nd incerest ~ad ~tber amoa ~f m~se~ p~7able by ~•irtue of eaid pron+issory aote and t6ia
deed, or either, promptl~ en tbe d~~s r'e~pectivtl~ the ~ame ~tve~ally betaud dne.
(b) To permi~ commit or sulEec no waste asd to maiatain tLe impcovcmenb +~t all timea io a state of 6ood rep~ir aod eonditioo; and
to do or pttmit to be dene to siid pr~miier nottiie6 t6~t will slter or ebwse tbe use ind ~h~ncter of ssid prapert~ or ia aa~ way
impair or weaken t6e see~tit~ of this mortp~e. Md in we of tLe refusel, ncEleet er inabilit~ e! t6e Moctp6or te rep~ir snd maintain
said propert7, the Mortaa~x sia~, at his option, make saeh repers o~ uose tbe same ts be made, aod advaece moner~ in tbat bthalf.
(e) To pay all and sin~nlar the aza, nre~sroenu, levies, liabilitiea, and obliptiow oi ever~ u~tnrs oo wid deaeribed pr~perty ach
an~l every when due ~nd pa~able aceordin6 to law, beEere tbe~ beeonie deliequent, ~nd to .deliver to tlse Mort~~ee ou or before March
15th of each rear tax reteipu evidencing th.~ payrnent of all LwEull~ imposed tues for the preeedin6 ukndar ~ar; to indemnif7 the
Mort6agce upon his demmd tar all tazes, auewaenb and eh~rses tlut may be asseued upon this aort6a~e on tbe iadcbtedoeee sccnred
hercby, aad paid br tbe mort6aKee, ~vithont re~srd to +~ny law beretofore enacttd or hernfter ie be enacted tW~Pi106 ~J~11EDL of the
whole or any part thereof upon thc Mortsa6ee.
(d) To p~r all and siaRul~r t6e cwu, ehar~es and ezpen~es, indudina lawyen' fees and sbstract cwu reawnrbl~ incnrred or psid ~t
~n~ time b~ tbe ll~ort6a6oe be+eause of the frilnre on tLe pott o( tht Hert6a6or to perform, eaupl~ with ~ed abide h~ ach ~ad tvery
the stipulatio~s, a6reementa, tonditions sred eovenanu of wid promi~sor~ note and ~his deed, or either, and eoery,sueL paysotnt e}ull
bear intera~t trem drte at tbe nte of ten per ccotnm per annwn.
(e) It is fnrtber coveaaoted aad a~preed b' a~idps rties th~t in tbe event of a soit bein6 in~tituted so (oreelose thi~ mortp6t, t6e 3Ylort-
5a6ee 0ha1! bc entided ta aPp17 at w~ wne peed'u~s ~ucL f~reclosure steit to tbe toort bavia~ jurirdietieo ehcreof ior tLe ~ppoiammcat
ot a reeeever o( ~11 and sio;niar tbe mortsa~cd property, ~nd of ~l! nnts, iacaecs, pro6ts, iMaa ead revennes tbere~i, from ~?LNSOever
~ource derived; and tLereupon it i~ hcreb~ esprad~ toveoanted md aareed th~t tLe Conri ~ht~.l fortbv?itb appoint rneh reeeiver ~rith
tbe nswl po~+en and dutie~ of rereiven in like e.ase~; snd pid ~ppvintmeAi alyll be made b~ tLe eoart ~s ~ matter of strict ri66t to
thc Mort~a~ea, and wit6ont rcfereoce to the adeqwcy ar inadeqwey of t6e valne oi the property hereby marrsa~ed, ar to the solvency
or iiuolveoey of the Mort6a6on or any otber p~~ty defend~nt t~ such duit. The Mort~ya6or 6erebj specifically w~ives the ri6ht to
object to t6e appoiatmeat of a resei~•er ae aforeaaid and 6ereb~ esprnsly eonaents that wcl~ ap~?ointment shall 6e msde as an ¦~oitted
equit~ and as a matter of abwlute ri6ht eo the Mortp~ee ied t~yt the eame ma7 be done without eotice to the MoR~s6or.
(f) Tf forcdo~urt proceedin~ ~hould be iwtituted a6ainat tbe property covered b7 tLir mortpEe u}wn m~ ot'hcr lita or clsim wheihtr
allesed to be superior or junior to the lito of thia mortp`e, tbe Mon6asee may at hie optioo immediatelr npan inetitution of such
sait or durins the pendeacy thereof declare this mort~a6e and tbe indet?tedness eecnred h~rebr dne and p~rable forthrvith aad may at
its option procced ta foreclose thi~ mort6a~e.
~ ( 6) '1'Lat the Mort6a6or will lceep all rea! aod persenal ptoperty now oc hereafter encumbtred b~ thc lien of this mori~6t ineured
u mar be required from time to ti~ne by the 1lfort~6ec a~ainat loat br fire, windstorra and otbt~ hasarda, caewltiea and continaencid
for sntL periods and for not !ds than eaeh amomnts rs mar bt reqni[td by the Mort~a6ee and to pa7 prompdy wbce dne all premiame
for ~ueh ineunnce. The amounts of insannct reqaired b~ tbe Mort~a~ee ehall be t6e minimnm ~mounte for ~vhich aaid insnrance shall
be wriaen aod it sbdl be iecumbent npon the Mort6apr to maiHuin aneL additionrl inenrance u may be necewr~ to meet pnd con?ply
fully with all eaiwnrancx requiremenu eomtained in aid pelicie~ io tlie ead t~st the wid Mortsasor is Qot a co-inwror tbercnnder.
Irunrance s6alt' be writtea 67 s compaay or comp~nia ~pproved er ddip~ted by tbe Mortaasee and allpo licies ~nd reaewala t6ereot
ahall be held br the Mortsa~u. All detailed de~iswtiso~ b~ the Murt6aaor whieh are ac~ted by ihe Mort~s~ee ~d tll a~{tet~ueuts
bctaveen Mort6aao~ and MortaaSce rdatin6 te i~rnr~swe, now e~stiaE or hert~attcr madc, shatl bt in ~vritin~ a»d a6s11 !~e ~ p~rt of thie
mort~6e agreemtnt as fallr ~a tboo~h ~et (orth verb~tim hertin ~ad e6a11 6avern both paRits hereto and t~eir wcceawn and assiEne.
No lien upon an~ of saidpo lieies of iaearanee or upon an7 rdaod or return prcminm whith ma7 be p~yable on [Le ancellation or
termination thereot, aluIl be btireo to otLtr than the Mortpsee, except by~ proper endorsement ~f&xed to sacL polier and approved by
Mort~asee. Eae6 politp oi' itunranee sl~ll h~xe a~ixed thertto a StsndYrd l~ew York Mort6s~ae Clanee withoot Contribatiaa, makiaa
ail loa or lw~e~ m~der sach polic7p~ yabte to tbe Mortaa~ee ~e its iotereat roar appear. In t~e eveat iny enm o~ sam~ of money becomc
pay~bte thereander the Mort6aRet ~hall have the option to reoerve aad appty tbe same on acroant ot the indebtednesa hereby eecnred,
or to pennit the Mortgessr to receive and use it, or ~ar p~rt thd'eof, witbont thereby wiivin6 or impstirias ta7 eqnity, liea~ or ri~ht
nnder •nd b~ virtne ot thu mon~a6e. Io event of lou or phraical daruase to the mortFased property tbe MartKa~,or ahall ~ve imme-
di~te notice thereof by m~il to the Mort6asee ~nd tbe Mortsa6ec may make proof ot loe6 if the arme is not made promptly bx the
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