HomeMy WebLinkAbout1436 PROVIDED, ALWAYS, that it the Mort~6or sh~ll pay unto the Mor~tgAaee the indebtedneee evideuoed by a
certain promiswry note o[ whieh the [ollowin~ in wo~ds aad hguree ia a true oopy tawit:
~ ~~r~. ~
s 11~` „ _ Miaru~. Flarida. /!!i¦~Itiis 17~r 19 ~
~
FOR VALU~ ~ ~Wr aM ~~•13~ ~o~ co ~r u
to che order of
che principal sum o ~"~d~'A~~ tO$~~~T w~~ ~tera~
chereon from daee at che rate of ttn percent. per annum until znaturity, both principal and interest beingpa yable in
lawful money of the Uni~td States ac 20~ Raper Building, Miuai, Florida, or at such other place as the holders h ereof inay
designate in writing. Principal and interest payable in installmtnts as follows:
s~~r t~3a.oo) ~?~ars y.~r .aa~ r~.s~s~r o~? ta. i~tir
ayr ot ~anaiNS, 196~. a~t eosiiaa~iss os ti~ l~f~ i~
ssah a~d ~t+~r~;~ aot~lt ~111 ia lLll.
"I'his «ote rnay be prepaid in ~ti•hole or in part after one year [rom the date hereoE uE.?on Nayment of a penalty
eyuivalent to two ~rercent of the principal suni prepaid.
Each installmenc payment shall be credited first on tht interest due, and the remainder on principal; and interest
shall thereupon cease upon the principal so credited. .
The makers and endorsers of this note furthtr agree to waive demand, notice of nan-payment and protest, and
in the event suit shall be brought for the collection herecaf, or the same has to be collected upon demand of an attornty, :
to pay reasonable attorney's fe~.s for making such collection.
Deferred payments hereundtr shall bTar ineertst at thc rate of ten percenc. per annum from rnaturity until paid.
This note is setured by a mortgage of even date htrewith and is to be construed and enforced according to the laws
of the State of Florida; upon dtfault in the paywent of principal and/ar interest when due, the whole sum of principal
and interest remaining unpaid shall, at the aption of tht holders, becnmt immediately due and payablt.
h:~rles edw••r~ russ _ ~S~L.)
~ ~ ; ~ i + : ~ti~? + ~nL S;j - - - (SEAL)
pnd shall perform, comply wiih and abide by eacb and every the ~tigulations, a6ree~nenta, eonditions and covenant~ of
aaid promiseory note and of thie dced, then thie dced and the estate thereby created ehall ceaee and bc nnl~ asd void.
1. The Mortgagor hereby covenanb and •6reea:
To p~~ ~Il and sin~ular tbe prineipd ted interut aed N~ar su~ns of msse~ pq~ble by a•irtue ~f aid pramiwota note aod thu
dead, or either, promptlr oa tbe da7n respeetivelr t6e ~aaie ~~allr breanes dne.
(b) To permit, commit or wQer ao w~~te and to maintaia tbe improvemtot~ at all time~ is ~ st~te ei ~wd rep~ir aea c~oditiou; rnd
to do or pennit to bc done to 6~Id ~fElA1il~ IIOtFflq tL~t ~rill aiter or ie6~n~e tbe we aad e6~rseter of ~tid propert~ or in as~ way
imprir or weakca t}~e ~eearity of tLis mort~a6e. Ae~ in eaae of dk refo~al, nc6lect es io~bilit~ tbe 11[~rtpaer ts re~ir aimd maiatain
wid propect~, the Morxpaee ~ar. at L'u option, make ~~eL rep~in or eame tbe s~me to be rnsde, ~sd sd~aoce mone~s in tbat bebalf.
(e) To pay dl and sin~ul~r the tsxes, as~eNrueab, levie~, liabilitia. aad oblepuoos o( every a~ptrt a~ Mid aaeribed pr~perty each
and every wiaen due snd psyable ~ceordin6 to law, before t~e7 become deliuqueet, aod te ~eliver t~ t6e ~ortp~ee oa or bdore Marcb
15th ot eaeh ~ur u: rcceipts evideacin6 t6e pa~ment of ~ll la~afull~ impo~ed tua for the preae~ns nleodar ye~r; to indemaif~ tht
Mortaa6ce upan hi~ demapd (or all tanee, aasenmcnb and eluar6ee that nnaq be asses~ed upon thi~ *tottas~t ~e tbe indcbtedecbr secured
hereby..nd pa~d br ~i~e mortRa~ee, ~vithout re6ard to ~ny law Lerttofore enacted or here~fter te be ewcted ioposin6 p~~meot of t6e
rvhole or ~ny part thereof upon the Mort~asee.
(d) To p~r ~U and ~in6ular t6e co~u, chargea ~ud eYpeo~es, iududin6 irwytrs' tea ~nd abstraet ewb reawnsbl~ incnrred or paid at
rn7 time b~ t}?e Mort~a6te beuuse of the i~ilure oo the p~rt of the Martgadar to pertorro, ewuply witb rad abide b~ weh and everr
t6e stipulstioos, ~6reementa, conditiona and co~enants of a~id promisaon note ~nd this deed, or citber, and every sucb pa~meat ~L~ll
bear interest fram date at the rate of ten per centom pes annum.
(e) It is fartber coteaanted ~nd r~eed b7 aidp~ rtie~ i.6~t in tbe eveat of ~ snit beioa imtitattd b fscecl~se thir moRp~e, ibe Mort-
~a6ee e6a11 be eatidcd to ~pply st wr time pendiu` ~mch loreclowrt wit ta tbt c~vt ~~ias junrdietiro eLeteo( Eor tLe ~pp~rinaeeat
ot a receivar o( all uod ~in6nl~r t6e mortaa~ed propeny, sad ot dl rents, iucane+, pro6es, i~s~e+ apd rsvenaa tbe~f, (ram aWuoever
sourc~ derivcd; and tbereupon it is 6crebr ezpressl~ e~vemaxed ~ed s~eed tb~t tbe Coart ~11 tert~+ith sppsi~t ~sch reteiver with
the ususl pewcn and dntiu ot rcreiven :n like ca~a; aud Mid ~ppoinw~ert s~Ll be made b7 tbe evart M ~ m~cter eE ~trict ti~t to
tt+e Mortga~eq ~nd withont referrnce to the ~deqwcy or in~deqaaey of the vdue of the property beeebr rao~~a~ed, or w tlwe wlvency
or in~olvaney of the Mort~,n6ore or any other p~rty ddeodant to suc6 suit. Ti~e Mert6a6or hertbr apecifipll~ waivd tbe ri6ht to
object to the ¦ppointroeot of a recei~•er r• aforeaaid and ~ereby exp~ty eoneenb tbat tach appointment s6a11 be made p an admitted
equity and as a matter of abaolute riRht to ti~e Mort6a~ee aad t~t the samc mar be dooe wit~ut natiee ts the MsRpsor.
(f ) It (oreclo~ure proceedinas ehould be instituted ~~t the p~opert~• eovered br thir mwt~6+e apon aa7 other lien or elaim whcthtr
~Uesed to be supcrior or junior to the lien oi thi~ mxt~se. the MortEa6ee msr at his option imraedialel~ npt?a imtitution st such
suit or durin6 the pcndency thereof declare thie mart6r`e and tbe indebEednew ~ecured 6ereb~ dae and prrible f4rtl~~vith aetl may st
; ita option procecd to forrcluse this niort~aae.
~ That tha Mon6asor wilt I~eep ~11 real Rad personil property now or 6ercaher entumbered by the lien of this msrE6+eEe insured
aa may be required from time to ticne br t6e Mortp`ee •pirrt iws b~ 6re, wiadstonn aad otber 6rsarde, usualtid and eeotin~encid
(or such periods and for not lws than sac6 amauoer ~ ma7 be reqaired by tbc Mort6a6ee rnd to par prompdy wben d'e ~11 premiums
for eueh insurance. The amounts of iasannce reqaired b~ tbe ~Eort6asee Rh~l be the miaim~ ~mounts (or whieb e~id iwnrrnce shall
t,e written and it ~6a11 be iacambcnt npon the Mortppr to ~widCain smL ~dditioawl insarance as ma~ be ncr.cwry to mcct and co~nply
fully with all caimur~nee reqnire~nenu eo~tained in Mid prlie~e~ to the emd t6at tbe pid Mort~6ar ia oot ~ eo-iasoror tl~erennde~.
In~urance s6alr be ~+ritten b~ ¦ eompany or comp~eid ¦ppro~ed or ddi~ted by tbe Mortp6ee ind allpo licie~ and reaewala tbereof
ehall be held by the Mort6a6ee. All detriled desi~doo~ b~ tLe Mort6a~er ~rbich ~ro scc~ted b~ the Mart~6ee aod all a~rern~ente
betwten Martsaaor ~nd Mort~a~ee relatiOa to iernnsce~ now pcirtins or hertafter made„ alull bc in writio~ ind ~hall be • part of this
mortEaae a6reement u tally ae tbou~hh ~et forth verb~tim hee~ein ~nd ~hall ~orero bah parties herete and tbeir ~accewon and aai~e_
:Vo li~n upon sor ot said polieid ot ineannce or upoa an7 retnnd or returo preminm wi~ich ~na~ be P.~able ae me uocelbtion or
tcrmin~tion thereof, alull be ~iven to other thsn ~IfE MQ~6l6l.'!y EZCEp t by~ proper eadonemen~ d6xed to encb polic~ and approved b7
iiort~aate. Each poliey of iruurance dhill haze afized therela a..~itandard 1'~iew York Mori6a~ee Claase witlioat Cantribntioo, makina
•11 los~ or lo~sea nnder euch polie7 payable to t6e Mortaa6ee rs iu interett m~r appear. In the event ~oy inm or wma o( money becomc
payable thereunder the Mort~Kec ~hal1 have t}u optioa to receive and applr ehe sarnt on ac~oam of the indebte~ hereb~ secvred,
or to perrriit the yfort~6or to receive ~nd uie it. or anp psrt thereot~ wit6oat thereby waivin6 or impairina any equitp, lien~ or ri~ht
under and by virtue of thie mortp,aRe. tn event of Ion or pLri+~al damage to the martRa6ed p:opert~ tbe Mon~a;or slull pve imme•
diate notice thereof 67 tnril to the MortgaRe~ and the Mort6aRet m~y make proof of lass if tbe ssme i~ not made praoqtlr 67 the
gooK 129 237