HomeMy WebLinkAbout1237 PROVIDED, AL~VAYS, th~t if the Mortpgor ~h~ll pay unto the Mortgagce the indebtedneee evidencod by a
certain promissory note of wkuch thc following iu word~ and figuree ie a true copy twwit:
Mo~r~yays /Yo~.
f 2r4~•~ Miami, Florida u~ ~l~s
FOR VAI.P'I~~H ~ promise to WY
to the ord~r of • • ~ ~ ~
the principal sum oE ~lYO ~iuD w DOLLARS. together with interest
thereon from date at ehe rate of ten percent. per annum until maturity, both principal and interest beingp~ yable in
lawful money of the United States at 20~ Roper Building, Miami, Florida, or at such other place as the holders hereof may
designaee in writing. Principal and interest payable in installments as follows:
'~ktr~-n.~? (=3~j.ao) D~ua:s ~.oe .oatir roar t~s't~r-~da~? t~9)
Y oanMwsin ~eari~ a~ 1M lslil? h,T d! M~i ~M ~~aat~~
~ ~it~ aa ~ ~'~11? iY at ~a~1~s, 19bS: ~~~6 ,
I~ ~iil ii~ 1Si1~ ir~r at O~rt~elwre, 1qT0, st Mirial~ iiai !iw balasss
~ s~sll ~aaM ~ au~ pyaDl~.
"I'his note n?ay be preE,aid in ~vhole c~r in part after one ye.~r Irom tl~e a<~te hereof u~n ~~aymer~t of a~.>enalty
eyuivalent to tw•c~ E~ercent ut the ~~rincipal S11II1 ~repaid.
Each installment payment shall be credited first on the interest due, and che remainder on ~rincipal; and interest
shall thereupon cease upon the principal so credited.
The makers and endorsers of this nose further agree to waive demand, notice of non-payment and protest, and
in che event suit shall be brought for the collection hereof, or the same has to be collected upon demand of an attorney,
to pay reasonable attorney's fees for making such collection.
Defened payments hereunder shall b~ar interest at the rate af ten percent. per annum fram rnaturity until paid.
This note is secured by a mortgage of even date herewfith and is tn be construed and enforced according to the laws
oE the Stace of Florida; upon deEault in the payment oE principal and/or interest when due, the whole sum of prinripal
and interest remaining unpaid shalt, at the option of the hnlders, become immediately due and p~yable.
f f )'i i 7 = _ ~ ~i i~T - (SEAL)
(SEAL)
and ehall per[orm, comply with ~nd abide by each and every the stipulations, x~eemente, conditiona and covenante of
eaid promisaory note and of this dced, then thie d~ed and the eetate thereby created shall ceue and be nul~ and void.
1. The Mortgagar hereby covenants and a~reea:
(a) To pay ~11 ~nd sin6ular the printipal ~ad ioterest and ot6er snitu o( monq p~~.bk by ~•irtne af eaid promuwr~ note and thia
deed~ or either~ prompdy oa the da» reapectivel~ tLe s~me ~trrerrllr beeomea due.
(b) To permit. comruit or suder no waqe ~ad to maiaUin tbe improvemeets at all timea io a strte oi ~vod repaer vd eouditioo; snd
to do or permit to be done to wid prem~d nothin6 that ~rili dter or ehan`e tbe are and cturacter of said propert~ or in au~ way
impair or weake~ she security of thie mort~6e. And in caie of t6e refosrl, ne6leet or inabiliq ~f t6e 11[~ripaor to re.p~ir and maintaiu
wid propeny, the Mort6r6ee mar. ~t 6ir option, make ~uc6 repairs or cauNe t6e ssme to be uiade, aqd sdwoce mae~er ia that bcbati.
(c) To pay all and ~insular tht taxes, asaewmenb, levics, li~bilities, and obli~tiooe oi ever~ oatore oo ~aid dereribea pr~perty each
and every whan due and parable secordia6 to law, betore tLer become delinqueuy ~nd to ,deliver te the Mortaaaet o0 or betore March
15th ot e~ch 7ear tax reeeipte evidencin~ the parmeut o( ~ll la~rfullf impwed uxes (or the pretediaa takada~ rar; to indemnifr the
Mort6a6ee upan hi~ dcm~nd for ail trzee, assearmrnts and ~r~cr that rnay t?e asse~sed upan tbia ~oortpse oa tLe indrbtcdnees ~ccured
hereby. aad paid br the mortReRee, without re6ard to ¦ny law 6cretofore enacted or heredter to be emcted imposinE pa'meat of t6e
whole or any p~rt thcreof upon thc Mort6~~ee.
(d) To p~~ all and sinaular the coste, char6e~ and ezpeeeaes, indadin~ lav+yen' (ees ~nd abstrrrt ewts rwonably incurred or p~id at
an7 time b~ the Mort~agee because oY the f~ilure oe ll~e pirt of iht EtortgsRor to perforu~, coa~plr witb wd abide br aeh and tv~ry
16e ~cipulation~, ¦Rreementa, conditions ~nd covenanla o( uid promisaor~ note ~nd thie deed, oc eitLer, aod every eueL parmtnt ~h~11
bear interdt frone clate at the rate of tea per centucn per annum.
(e) It ie fnrtbcr covcnsoted and aRreed b~ ~aid partits thrt in tbe eveet of a ~uit btie6 imtituted to torecleie t6i~ ao~ort~~e, the Mort•
6a6ee shdl be entidcd to ~ppl7 at anr time pendiu6 ~ne6 forecl~wre suit to tbe court h~ria6 jurisdietieo eLeren6 for tbe s~i~anent
of a receiver of aU and ein6ular the mort6a6ed propeny, and o[ all rents, incotna, profity issnd snd rcvennd t6e~ea(, f~om wL~tsoever
~ource derived; and thereupon it is hcttby txprdsl~ eoven~ated ~nd •~ed t~t tbe Cenrt ~II ~~ttbwitb ~~?point sacL receiver with
the usu~l powers rnd dutiu o( receiven in like casea; ~od aid rppointm¢at ah~il be made br tlse co~t rr a maner of rtrict ri~6t to
the Mort~ai6ce, ~nd without reterence to the adequacy or inadeqoaey of t6t valut of the property benby moitaa6ed, or to tht ~olveney
or imolvr.ncy oi the Mortsa~ore or any other party defendaM tu cuch suit. Tht Mortsa6or LeraS~ speei5tally waires tbe ri6ht to
object to the appointment of a recci~•er as a(oresrid and herebr expresaly consents thtt meh appointment s6a11 be made u ~n •dmitted
equitr and a~ a matur af absolute riRht tu the Mortda~ee aod t6~t the eame may be done without eeties to the Mnrt~~or.
(f ) II foreelosure proceedin~a ahould be inetituted aplnrt the pcoperty covered by this mart~se opan ~nr ot6er lien or c4im whether
alleaed to be supe~ior or junior to the lien of tl~i~ moet6aae, tbe Mortaa~ee m~r tt hie option i~mnedi~telr upon ineiitution o( euch
auit or during the pendency thereaf declare thie roortsa`e snd tbe indebtedntse ~eeu?ed Lereb~ dae and p~Table foet6wit6 •nd may at
it~ option proceed to iorecioet thi~ inortEaRe.
~ (6) That t6e Mortgaaor will keep all re~l and penonal property now or heresfter encumbered by the lien of this mqrt6a6e imured
aa mar be requircd irom time to time by the Mort6a~te apimt loss by 6re, windatortn and athtr hasarda, usualtia and continaeociu
tor such periode and for not lese tLan ~uch ueounlt as ma~ be requirtd br the Mort~a~ee and to pay prompdy when dne all premiums
for euch ineurance. The ~mounte of inaunm~ reqnirod by tLre Mort~stc ehsl! bs the minimnm arr?ounn for which aid ininnc?ee ehall
be written and it ~hall be incumbenc upon tbe Monsasor to m~iwain sne6 ~ddition~l insnrsnce a~ m~~ be nec:daar~ to meet aod eon?ply
fully with all co-insuranee requiremenu eootained in said policie~ to tlfe end tl~t tbe pid MoR6r~{or i~ not i co-iasnror tbtreunder.
In~urance ebaif be written br ¦ company or comp~nier approved or duisnated by tLe Mort6a6ee aad allpo lieiee aad rrnewala thereof
~hall be hcld by the Mort6~gee. All det~ited de~i6natiooa br tl~e Mon~a6ar xhic6 ~re aetcpted by the Mort~get and rll a~xetruente
between Mort~aaor ~nd Mort6aSee relatin6 to iusar~eee, now tsi~tin~ or htretttcr made, shall be in writioE and thall be • part of thia
r.~ortsaae ~~rcement ~s inlly as thau6h eet forth verbatim herein and shsll Eovcrn both parties hereto and tLeir wccdson and assiRne.
No lien upon ~n~ at said policiea of ineurance or npon an~ reinnd or return premium r+hieh ma7 be payable o0 1Le eancellation or
termination thereof, ~:~all be 6iven to ot6er than the Mort~6ee, e:cept by~ proper endorsement aRixed tu sueh policy and ~pproved bT
M1tort6r6ee. Each polie~ of inaurance ehd! hue aMtzed thereto a Standard New York MortEa6te Claux witl~ont Contribntion, m~king
r!1 loae or losses under auch policyga yable to t6e Mortaadee u iu interest m~7~ appear. In tbe event an~ eum or samn o! money bKOmc
payable thereunder the Mortg~~ee ahall have t6e option to receive rnd apply the name Qn ~ccount of the indebtedeea hereby etcnred,
or to permit the Mortp,a6or to receive ~nd u~e it, or any part thveof~ wit6out thercby wairin6 or imp~irina aa~ equity, liee~ or ri6ht
undrr and by virtae of thie mort6aRe. in event of lo~ or phyairal drn~a6e to the moRRa~ed property tbe Mortga6or shrll ~yve immt•
di~te notice theeeof b~ mail to the Mortaa~ee and tht Mort6a~ee may make proof o( loea iF t6e same ie not m~de promptl~ br 1ht
. ~oox 129 38 ~