HomeMy WebLinkAbout0419 PROVIDF~Dw AI.~AYS~ t6at if tbe Mor~~r alull p~y unto the Mort~x~oc tba iuoidcbtednc~ evidenced br a
oartaip promic~or~ aote of ~rbiah tlre followic~ in word~ s~nd figuces ii a true copy to-wit:
.
~ ~ ~.or~.tre YT~?. ~S
i ~a.~l~ - Miami, Flori~y 19
•.3Y%
FOR VA1,~JiF~ S~ n w. ~tl,t ~M ~~,i p~~ ~o ~r
to the order o ~ +
thc principal sum o ~DOLLARS~ togethet with intcrat
cherean from ciate at the nte of ten percent. per annura until maturity. both printipal and interest beingp~ yable in
lawful monty of the Uniced States at 203 Roper Building. Miami. ~lorida. ar at such other place as tht holden fiertof nn~y
designatt in wricing. Principal and interat payable in installmeata aa follows:
a.. a.ia~i s!!"!~? ~u~.eo) soZl.,e. ~S ~*.iM? 1~~d.s a~. s~r.
lyfL M1 ~~~Mwe~ aM ~artis~dtri o~ il~r 1Si? iy? t~!
~i? ~M f~rroy swMt i~ae~tyr~s t~tid~ ~?l~t.
( ~
~This note may be prepaid in ~vhole or in part after one year from the date hereaf upon payment oE a pena
equivalene to twa percent oE the principal sum prepaid.
Each instailmens paymenc shall bt tre~dited firat on the interesc due, and the remainder on principal; and interest
shall thenupon cease upon the principal so credited.
The makers and endoratts of this note further agree to waive demand, notice of non-payment and protat, and
in che event suit shall be brought for the collation hereoE, or the same has to be collected upon demand of an attorney,
co pay reasonable attorney's fea Eor making auch collection.
Deferred payrnents henunder ahall b'ar interat at tht ratt of ten percent. per annum &onn maturity until paid.
This nou is secured by a mortgage of even date h~rtwith and is to be coastrutd and enforced according to the laws
of the State of Florida; upon default in the payment oE principal and/~r interest ~vhen due. the whole sum of principat
and interest remaining unpaid shall, at the aption of the holdtrs, becomt immtdiately due and payablt.
JO'rilti IVORY _ (sEAL)
iz~Q TT A T'Jn kY (SEAL)
pnd ehall pcrform, comply with and abide by eaeh and every the stipulrtions, a6reementa, cooditiom and covenanta of
eaid promieaory nate and of thia deed, then t}aie d~esd and the estate thereby created shall ceaae and be nnll and void.
1. The Mortgagor hercby covenanis and a~reea:
To par rll and tiesular thc principd and istcrert ~nd ~t6~r ~u+~u ot msne7 p~7~ble by ~•irtae oi wid promiawry aotc and thi~
decd, or either, promptlr oa ch~ dar ~c~~~r ~...+e «r.~r.~tr b~e..~. ~doe.
(b) To permit~ commit o~ ~u~er ne wute and ta mrintaia tbe ioprovema~4 at all tema in • etsit ~I ~v~d tepair ard t~nditi~n; snd
to do or permit to be done to ~aid premisw nolhie thst ~vill alter or ebaa6e tbe aoe aad el~e~aetee of ~sid propert~ or in any way
impair or weakea the seenrity of this mort~a6e. An~ in we o( tbe reftwl, nertee4 ~r in~biliq ~t t6e lil~etpbor te re.p~ir ~a$ maiotai~
aid propertr, the Mortgatee auar, ~t 6is optiory m~ke sacb tep~irs or dase tlre s~ma t~ b~e ra~t3a awd ~ranee mener io tbrt btlulf.
(e) To pay dl snd sin6ular the tazn, awewueo4, levier, liabilitie~, sad obliplioos oi eva7 ~stan oa Ned ae~erebea p~roperty ach
and every ~vhen due and pay~ble aetordin6 to law, betore tbey liecome deli~qurnt, and to ~dclivct te the Mort~~ee an or before Merrh
15th of eaeh ~ear uz reeeip~a evidencipa t6e paymeat of all lawfull~ impo~ed taxa tor the precedin~ calendu yar; ts iademnifr ~he
Mort6a6ee upon hi~ tkmand for all tauee, auea~menU aod ehar~u tl~t uuy be russeseed upon t6is ~ortp~e on tLe indebtedneee socund
hercbr, and paid by t},e mon~aRee, .vithout re6ard to any law 6ere~elore enseted or her~rfter te be ee~eted imposin~ pqmeot of tbe
whole or any part thereof upon the Mort~a6ee.
( d) Y'o p~7 dl and ~ingular t6e co~u, eharsee and tzpen~es, indudina ta~vyers' fep md abstract eoW reasoteably incarred or prid st
on~ time b~ the Mort6saee because of the failuce on the p~rt of the '.11ort~~or to perform, eo~plr ~ritL md abide br deh and every
t6e ~tipulatioas, a6reemeata, conditione antl cocenants v( aaid pwmissor~ note ~Rd ifU6 deed, or eit6er, wd evtry eueL pay~oent ~hall
bear inte~eat fram date at the rate o/ ten per ccntnm per ~nnnm.
(e) It ie irerther covemated ~nd a~reed br raidp~ rtits th~t ie tbe eveM of ~ ~uit beis6 iwctitnted t~ fonxlwe tLis moet~r,e, tbe ~1lort-
~saee ahall be eatided to apply ¦t ~nr time pendiur ~ueh fereclow~ce sait t~ tbe t~rt ~vi~6 juri~dictien eLueof (or tLe app~io~l
of a reeeiver ot ali aod sin6nlar the mort6a6ed property, and o( a!I tenu. incaree, pro5ta, iMUes iud reveoae~ ~betro~i, (xom vrbrtwsver
~ource derived; and thereupon it is hcrebr exprdaly eave~neted urd asrecd tiMt the Cenn ~ll t~rthwill~ ~ppoi~ sne6 reeeiver with
the waal powets snd dntiea o[ reeeiven in like easd; md ~~ppaintment slxll ba uude b7r tbe eonrt ~rs a matter d~triet ri~bt ta
the Mortaasee, and wit6out reterence to the adcqaacy or iwdeqnasr o! t6e v~lue of the propertr hereb7r mort6a6ed, or to tbe solvency
or inwlveocy of the Mnrtaa~or~ or any other party defead~nt to euc6 euit. Ti~e Mort~sor 6ereby apeei&ealt7 wsivu the ~i6ht ta
object to the appointment of a recei~•er ae aforceaid ~nd berebr acpre+aty conaeete that eneh appoiniment rhall be made u an admitted
equiq and as a mstur of •bsolute ri6ht ro t6e Mort6a~ee aod tbat thc samc ma~ be done rvithout natica te the 11~vri~a;or.
(f ) If foreclosure proceedinas shoald be inscituted a~in~t tbepr opcny covered br tbis martaaae ~pua snr ot6er Iieu or claim whethe~
alle~ed to ht euperior or junior to the lien of this mort6aae, the MortFaaee ma~ ot hie option imrotdi~tel~ npon irxtitution oi snch
suit or durin6 the pendency thereoF derldrc t}tie man6ase and tbe indebtedneae recu~ed bereb~ due and p~~able tortbwith ~nd may at
~ iu option pro~ted to forecloer, thie wonRaRe.
(6) That the Mortr,t6or wi)1 iccep all rtal and persenal prope~ now or hereafter eacu~nbered bJ the ?ien of thi~ m~rt~se ineured
aa mar be required from time ta time by eh~ More~aace ~~aimt lota by 5re, ~vindsiorro md othtr hraa~da, tawaltid and contin~enciu
for 4ueh period~ aad for not lese tlean euch amauet~ a ma~ be req~ired bi t6e Mort~aaee aod to pa7 prompdy vri~ea dae all preminme
for ~ueh insunnce. The ~mounts o( i~nnure reqnired b~ t1~e ~[ort~asec ehrll be the miaimum rmounte for whieb wid ie~enrance sFurll
be written and it sball be ineumbent npon the Mortp~?r to nwintaia soeb •dditioewl insnraace a~ msy be necasan to meet and comply
fully with a}l to-insnnnet reqaircmeata eeatained in iaid p~lieiw to the md th~t the nid Mortsasor is not • co-inwror tl~ereander.
Inauranee shalr be writtan br i companp or eompanies approved or ddiEnated br tbe Mort6a~e sad alt~policie~ and renewals tbercof
~h~ll be held br the Moct6a~ee. All dcailed desi6aationr b~ tbe Mort6a~or which ~re seceptcd bT the Mort6s~rx ~nd aq a~ruuents
be[wecn Mort~sor and Moctaagee rc4tin6 ~o iniwnwee, mw esfitin6 or heredter midc, s6a11 be in writio~ aed ~hal! be a pan d thi~
mon6age ~6rcement n fully ae tLouRh ~et forth verbatim hercia snd ~hsU sovern bath p~rtiea hereto ~nd their ~utcesson aad asdi~aa.
No licn upon •n~ of raidpo lieia of ineurance ar npon ~n~ tefnnd or return preminm which may bt parabie on fbe oneellation or
termination thereof, s~all be ~ivcn to other than tbe Mort6a~et, except bq~~ proper endorsemeet al6xed to sne6 poliey ~nd approvad b~
Mort6a6«. E.~eh poliry of ineunnce ehall ha:e ¦A'ixed thereto a Scandard PJew York Mortaa~ee Ctauee withoot Co:atribation, mskinR
~II loea oc loeees nnder eaeh policr pay~ble to t6e Mortaasee as iq iate?dt m~y appear. In ihe event ae~ enm or snms ot ~noney I~x.cumc
pay~ble thercnnder the Mort~aRee ~ha11 have the option to reteive and apply the aame on a~~onnt of the indebtednus bereb~ secured,
or to permit the Mortsasor to receive ~nd ure it, or any p~rt thereof, wit6out Ihe~eby waivin6 or in~p~irina aa~ eqnii~. litnt or ribht
under ~nd by virtoe ot thie monEaRe. In event of loe~ or pbysiral dan~aRe ro the mort~caged propcr~7r tLe Mortsaaor eball ~ve imme-
dirte notiee thereof br mail to the Mortsa~ee and the Mort6aFre map mrke proof o( loea if tht same it not made pranpdy b7 iLc
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BooK 1~7 . _ .419 . .
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