HomeMy WebLinkAbout1114 PROVIUFI), AI.~`AYS, tbat if the Mortar~or ~hall pay untu thc Mortgagee thc iadcbtedneae evidenced br i
ocrtaio promiMOq note aC which the followias in word~ and figurea is ~ truc copy tawit: _
/NA~~ ~0~
Miami. Florida 19 ~
FUR VALUE RECEIVED pr~mise to pay
to the order of ~~1T ~i~T ~I~M~1I+I ,~d rz~i~ FRi,~._? hls tstife~ _
che principal sum n OLLARS. togtther with inttrest
chereon from date at che rate of ten percent. per annum until maturity, both principal and interess being payable in
law 1 money of the United States at 203 Roper Buiiding, Miami, Florida, or at suth other place as the holders hereof may
ignatr in writing. Printipal and intcrtst payable in instYllmtnts as follows:
ti~0.t#4) D~lla~r w~r~tiit ea~ tJtt
lstit ~t ~rwal~s, 19~4= afi ~w ~ i~
lst~ taJ aat ~r~ ~es1~ r~atil
laii ia !1~].1.
`I'his note may be prepeid in whole or in ~art a(ter one yecir Erom the clate hereoE uE~on pay?nent ot a penalty
eyuivslent to two ~.>ercent of the principal su~ii p~epaid.
Each inseallment payment shall be credited fint on thr interest due, and the remainder on principal; and interest
shall thereupon cease upon the principal so tredi[td.
The makers and endotsers of this note Eurthtr agrte to waivt demand, notice of non-payment and protest, and
in the event suit shall be brought for the collection hereof, or che ~me has to be collected upon deinand of an attorney,
to pay reasanable attorney's ftes for making auch collection.
DeEened paymtnu hereunder shall bru inttrest at tht rau of cen ptrcent. per annura from macurity until pai@.
This note is secured by a mortgage of even date htrtwith and is to be construed and enforced according to the laws
af che State of Florida; upun default in the payment oE principal and/or interest when due, the whole sum of principal
and interest rernaining unpaid shall, at tht aption of tht holders~ become immediately due and payablt.
:;,...I _ ~'ISti (SEAL)
(SEAL)
and shall perform, comply with and ~bide by eaeh and ev~• the atipnlatione, aareemente, cnnditions and covenante of
aaid promisaory note and of thie dr,ed, then thie decd and the eeQate t}~ereby created ehall ceaac Aad be nul~ and void.
1. The Mortgagor hereby covenant~ and a6rees:
(a) To pay rll ~nd sinsu/ir the prineipal and intcrat and otbar ~nms af maney payabie br ~irtue o( esid pcomisrory note and thie
deed, or either, promptlr on the dqs respcctivelr t6e ~ame ~e'veraltr becomea dve.
(b) To permit, eommit or ~u~er no wasle md to maintain tbe improvetnenb at ~II Umd in • st~te oi 6ood repair ~sd tooditioo; ~nd
to do or permit tu be done ~o said premiees pOI~1106 ~l ~+ill dter or rLan6e tbe u~e md ctuncter of ~aid propert~ or ia an~ way
impair or wcaken the ~eenrity ot thi~ mort6aae. And in uae of t6e rehwl, ne6laet or iosbilit7 ~i t6e Mort~or to repair rnd maieuin
aaid propcrtr, the Mo~rt6agte ~ar, ~t his eption, mike ~~ch rep~ir~ or cawe tLe sscm to be oude, awd sdnaoet moneTs in t)ut behalf.
(c) Tu pay all and ~in6ular the taxes, asseamenu, levies, li~bilities, and obii~atione of every nstnre on s~id de~eribed property ach
snd every when due ¦nd payabte aeeordin6 to I~~v, belace tber beeome delioqnent, ~ad to ~ieliver.to the 11~ort~~ee o0 or bt{ore March
15th of each rear tax reeeipts cvidencin~ t6e paytneut o( all L~vfull~ imposed tues for the precedin~ calendar ~ear; to indunaifp the
Nort6a6ee upan hi~ demrad for ~il laxee, aesea~mrnte and cburr6e~e ehat m~y bc ~s~es~ed upon this toorl6e~qe on the indebtednese sccurod
hereby, ~nd paid b7 the mortRaRee, without re6ard to ¦ny law btretofore enacted or hereafter te be eoaeted imposin6 pa~ment of ihe
whole or any part there~f upon thc MortF~aee•
{d) To pay all and sinsul~r tbe co~tu, chrr6c~ •nd e:pensea, indudin6 1~Fryere' fed and ~bstrsct ewu reasonablr incurrtd or paid at
•n~ time br thc Mort~aaee bec~uce of the f~ilure an t2~e prrt ot the ~lortgaEor to perforra, eoa~F17 w~it6 ~nd abide by tath and every
the ~tipulations, a6retments~ eonditiona a~d co~•eoants of s~id pwmi~eor~ note and thie deed, or either~ u~d every sucL panncnt e6all
bear interat irom date at the nte ot ten per centum per annum. ~
(e) It ie tunher cavenanted snd aFreed b7 wid partia t.6rt ir t}re tvcnt of a eait bein~ iestituted to foreclose tb~is mort6a6e, tLe Mort-
6a6ee thali be eotided to spp{y •t aa~ time peed~u~ ~ne6 (~reclow~re suit to tbc tenrt 6avia6 juri~diction ebered for tbe ~pp~iotmeat
of a reecivcr of ~ll aod sin6nl~r ihe mort6sdcd property, and oi all reMs. iaewnea, pro8ts, i~sup ~nd revenad thereof, i~om v+L~tsotver
source derived; and tLereupon it ia hcreby cxpre~el~ esvenssted'i ~nd •6retd t~t tbe Conrt ~ll fsrtl~wit6 appoint sacL receiver with
the wwi poMers wd dntie~ of receiven in like ca~a; ~nd t+id ~ppointment s6~U be made 67 tbt eoaR as ~ matter of ~trict ri6h~ to
the Mort6a~ee, and withont reference to the adequaey or inrdeqaaey ot t6e vdue o( t}~e property hereby mort6a6ed, or to tf~e solvency
or imolveney of the Mort6aSorc or ¦ny other p~rty defend~nt to ~ucb 6uit. The Mort6a6or bereb~ ~peei6cally rraivea tbe risht to
object to she appoiatment oi a rceeiver ae aforeeaid ~nd becebr ocprenly ~onsents that snch appointment shall be made ae ~n admitt~d
equit~ and n a maner of absolute riqht to the Mortp6,ee md t~st the eame may be done without notice to the Iklort6r~or.
(f ) Ii forodowre proceedinas ahould be inuituted e~aibat tLept operty tovered 6y thu mott~t~e npon sar other liea ur claim wbether
alleaed to be sup~rior or junior to the lien o( thu mort6a~e, the MortRa~tt may at hia option immedi~tdr apon inetitution o( euch
avit or durinR the pendeney thercof declare thie mortp`e and tbe indebtedn~ss ~ecured 6treby due snd pa'able forthwith and may at
it~ uption proteed ro foreclou thie mortFa6e.
~ (6) Th~t the Mort6a6or wi1! keep •11 resl md penoaal propectr now or hercaher encumbertd by the lien of this mort~a~e insured
aa ma7 be required from time to time by the MoR6asee •~initt bss 67 6re, windsionn aod other haza~da, rasu~)tiee and contin6enciea
for eQCh perioda and for not iew than such amount~ u ooa~ be reqdired by the Mortaa6ee ~nd to pay prompily whtn dne all premiurne
for •ur.h ineurance. Tho ~ITIOlIR16 of inaunaee reqoired b~ tlre MortiSa~rie Ehali be tlie minimum ~maunts for which ssid inaunnr.e ehall
be written ~nd it slull be ineumbent upon the Mortgader to maintain soeL •dditiunal iosurance a~ mrr be ntcdaa~7 to meet ¦nd can?pfy
fully with all co-imursnce rcqairements conqined in aid peUcies to the wd th~t the wid Mort~sor i~ not a co-insnror the~eundc:.
Insurance eFulf be writtea 67 ~ eompao~ or companies •ppro~ed or dwi~[ed br the Mon6s6ce and all~policiee and renew~la thereof
rhall be held bq the Mort6aaee. All deuiled desi~tion br the Monsa6ar whicb sre aecepted b~ the Mort6a~ee ¦nd all a6reeluenu
between Murt6r~or ~nd Mon6agee rel~tiaa to innraete, aow eYi~tin6 or heredtsr made, sha11 be in writin~ ~nd shall be a pan of thie
mort6a6e ~6reement as fullr re tbo~~h aet forth verbatim berein and ehall aovern both partita hereto ~nd their sueewson •nd aeei~cne.
No lien upon an~ ~ said policiea o( inanraoce or npoo ao~ refnad or return premium which m~y be parable oa tbe cancdlatioa or
termination thercof, rhall be ~iven to other thao tbe Mort6agee, except by proper enJoreement affixed to each policr and approved b~
;14ort6asce. Each policq of inaurance eh~ll haxe ~A'iaed thereto • St~ndard tVe.+~ York MortEaRee Clauec without Contribntion, mrking
sll loss or Iossee ander 017C}I (IAIIC~ pay~~I~ IO l}I! Mort6a6ee ae iu internt may appear. In the event an~ enm or sums o( money b'~omc
pay~ble thereunder the Mon~aRee ~hall h~vs the option to receive and apply the eame oe a~~oant ot the indebtedneas hereby sccured,
or to permit the i4iort~6or to rereive ¦nd use it, or sny p~tt thereof, withoat thereby waivinF or irapairinb ao7 eqnity, lien{ or ri~ht
under and by virtae of t6is tnort6aRc. In ev~nt of loa ar ph~si~al damaEe to the mortKaRed pro~xttr the MortRa6or shsll R~ve immt-
di~te notice thereof b~ m~ii to thc MortRaRee and the Mrsrt~aKre may make proof ot luee if the same ie not made promptly br the
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