HomeMy WebLinkAbout1439 PROVIDEI~, AGWAYS, that if ttte Moxtpaor ~11 pay unto the ~ort~agee the indebtedneae evidenced by a
oertain pramiseory note of w4ich tha followin~ iur wor~d~ and Sg~res is a trwe copy tawit:
Alo~tqoyi /Yo~.
; Z a Miami, Florid~ Q~'~1~~ 1~~ 19 ~
FOR VALUE RECEIVED ~~~41~_rus~ ~.,~r,.~.11,. promixtopay
~ ._..r-~ ~ ~
co the order oE_ _~.~JAl:IF H~i~~ZT'L w~
the principal s~m o OLLARS, together with interest
thereon frnm ctate at the rate of ten perrent. per annum until maturity, both principal and interest being payable in
lawful money of the United Sutes at 203 Roper Building, Miami, Florida, or at suth other place as the holdtrs hereof utay
designace in writing. Principal and intertst payable in installments as follows:
SZI!'! ~ii~0.04) D~llasir ~a ~a~ati aa~ ~
~ l~i~ iiy? ~t" llar?'ss~?rs', 19i5 ~+a~d aee~tt3a~eiat ~ t~u
1Stk ~y? ss~ a~d a~m~t~ l~ce~at't~r ~til
pai~ ia 11~11.
This note may t~e prep:~id in ~~•hole c~r in part aCter one year frczrn the date hereof u~wn payment ~E a penalty
eyuivalent to [wa ~~ercent ol the principal sum prepaid.
Each installment payment shall be credited first on the interest due, and the rernainder on principal; and interest
shall thereupon cease upon the prinripal so credited.
The makers and endorsers of this note furthtr agree to waivt dcmand, natice nf non-payment anti prottst, and
in che event suit shall be brought for the tollection hereof, or the sam~ has to be coilected upon demand of an attorney,
co pay reasonable attorney's fees for making such collettion.
Deferred payments hereunder shall brar inttrat at the rate of ten percent. per annum from maturity until paid.
This note is secured by a mortgage of even date htrtwith and is to be construed and enforced actording to the laws
of the State of Flarida; upon default in the payment of principal and/or interest when due, the whole sum of principal
and interest remaining unpaid shall, at the option of ttrt holders, bccome immediately due and payablt.
I~ONNI:~ LDWAk~US (SEAL}
~DDIE B~~~I,Li~ w~U.~tiTi;RN`.AN EUWAi~tDS (SEAL)
I
and shall perform, comply with and abide by eaeh and every the ~tipulatione, a~mente, conditions and covenanta of
eaid promiseory note and of thie deed, then thie deed ~nd the eatate thereby created ahall ceaee snd be nnl~ and void.
1. Th~ Mortgagor hereby covenants utd a~reta:
To psy sll and un6ulu the p~ioeipal Yod intcrat wd othR ~am~ .t moner p.rable by ~~irtne ot rsid pramiiwr~ note and thu
deed, or either, prompdr on tl~e d~y~ rdpeezivel~ tLe ~u~e ~everaU~ beeome~ dne.
(b) To permit~ commit or ruQer no waste and to maintain tbe improvemenu at all tima ia ~~tste oi sued repair aed eonditian; u~d
to do or permit to be doae to wid prcmises notbin tL~t ~?iil dter or emn~e t6~e we ~ed cMraeter d~aid p~uper+t~ ur in an~ way
impair or wtaken the eecnrity of thie moctp~e. An~ in ea~e of t6e refowl, ne6lect ~r insbilit~ ~ tht M~rtppc te re~ir snd maiat~in
~aid propc~tr, tAe Monba~te ~ar, ~t his option, make ~~ch e~irs or cau?e tbt ~ ts be made, aqd advaaee moiee~ in that be6alf.
(c) Tn pay ail sad sin6uLr the taz~n, oskssmcnts, levia, iiabilitia, and ob4ptioru o( ev nstnn ~n ~aid ie~eribed pr~pe~ty each
and every w~en due and pay~bie accordin6 to law, before tber become dellnqueat, aed to ,de~v~er t~ the Mortp~ee er or before Marcla
15th o( each 7ear ta: receipts evidencin~ t6c pa~meat d all l~wfullr impo~ed tar,a for ehe preaedin~ cakad~r ~ar; to indemuif~ the
Mori6aRee upon hi~ dcmand for all ta:ee, aesearrncnts and el~a~~r d?at maq be as~esaed upon tL» ~osrtp~t ~o the indtbtedscse ~aeured
herebr, aad paid b7 the mort~aRee, without re~ard to sn~ law Lerctofore enacted or lrer~after le be eweted imp~asio` pqmeat of the
whole or any p~rt thcreof upon the Mort6~6~•
(d) To prf all and ~in~ul~r tbe co~u, ehar6n aod e:peose~, indudie~ law~en' ieea ~nd abstrad eoNs rea~ombl7r ine~rred or p~id ~t
~6~ time br the Mon6•6ee becau~e oP the (~ilure oa the p~rt ot the Nort6a~ar t~ perfarni, eompl~ will~ ~od abidx by dch and every
the otipulationt, •areements, tonditions and covenanta of qid promiworr note ¦nd thie deed, ar eitber~ asd evtry eueb paJment eLall
bear intere~t from date st the rate oi ten per centurr? per anoom.
(e) It i~ further coveoaoted and ¦Freed br ssid ttiet tlat ie tl~e evet~t af a ~nit beie6 ie~tituted to fsreclwe ih» mortas~e, tl~e iMort-
6~6ee shall be eatitied to appi~ ~t mr time pen~na n~ ~.~..~e .n~i ee ~ ~.~re b.,~;.s j~r~.d~caoo ~er~.~' tor tre app~ialmeot
of ¦ receever of ~ll and sin6al~r tbe mort6a~ed property, and of all rcats. iocoma, pro6ts, iuua ~nd revmna t6eroef, troim w~twever
~onrce derived; and thereupon it is hcreby exprenlr eovematcd aed s6r~eed idt eLe Gnrt ~ll f~cthaith appoiM sodt reteirer with
the wwl powen and dntie~ of rereiven in like ca~; as~ nid sppoiatmeat sb~U be m~de br tLe eonrt r~ aaatuer oi ~trict ri~Lt to
the Mort6asee, ~nd rvithout rcfercnce to the ¦deqnacr or iwdeqnrep of the valut o( ihe proptrt~ bertby mortp6ed, or to tbe ~olvency
or inwlvencr o( the Mnrt6asors o~ •ny other p~rty defead~at to such suit. The Mort6aaor Lereb~ speeifxall~ w~iva il~t ri6ht to
object to ~IE ippO~A~lI7EAt of a recei~•er as aforeeaid ~nd Lertb~ acpressly coneenn that ~nc6 appointment rhall be rn~de u aa admitted
cquity and as a matur of abeolute riRht to tbe Mortp~ee and dyt the saa?e ms~ be doae wilbout aotiee to the 1114Rp~or.
(f ) If ioreelosure proctedinEt ~hould be instituted ~~ao~t tbe~r operiy covered br thia mortsa6e apon ao~ otber liea or cl~im whether
alleaed to be buperior or junior to the lisn at thi~ mmtt6aat, tbe Mort~aaee m~y ~t he'a opdon immediatel~ npon inatitutien af ~nch
ruit or durinR the pendeacy thereof dedare thia mortp`e and tbe indebtedmsr ~e~cured 6ereby doe ~ad pqable fortbwith ~nd ~oa7 at
~ its option proreed to forecloee thi~ ?uort~ast.
(6) T7u~t the Mortsaaor will fcesp all rcd and perwoal propert~ now or hertafter encumbered by the lieo of this mert~sEe i~ured
~ se mar be required from time to tiine by tbe Mort~see ~~+iewt lon br fire, wio~torne aod other hasarda, cawaltip utd tontin6entia
tor sueh periods and for aot lew t}un aach amouap u uu~ be eeqaired br the Mort6a6ee and to par prompdy w6en dtie a1i premiwne
for sueh inwrance. The amounte of insuranse req»ired b~ tbe 1[ort~~ere Ehrll 6re the minimmn amounte for whieh aid inwnoee slull
be written and it ~6a11 be incumbent upon the Mort~s~or to m~intain soth ~dditiond iosaranet a~ may be neceaan to ~neet and co~p i~
fully with dl eaimuraace rcqniremeeu eontaioed in aid p~iiciee to tt~e ead tbst t6e wid A[ertsarsr iM not • co-inmror tbereunder.
In~ur~nce. ahalt be written b~ • company or eompania •pproved or desi~ted br tbe Mong~6ee and all~polieie~ end re~ewah thereof
shall be held br the Mort6a6ee. All detriled desi~utiom by the Mortp6or wrhieh arc acceptcd bp the Mort~asee ~ad all a~tetuente
between Martsa6or ~ad ~ortsasee relatior to ia~araa~ee, now r~dn6 or hereJter made, ebsll be in writin aod sLsU be a part o( d~i~
mortFa~e ~~reement u[allr M thoo6h ~et forth verb~dm bereia ~nd ~hall sor•ero both p~rtiea hereto md ~ir snceawrt and sssi6ns.
No lien upo~e an7 d saidpo liciee of ineur~nce or npon ~n~ reinnd or retum premi~un w6ich ma' be pqable on fLe ameellstioe or
tecmination thereof, ~6a1t be ~iven to otLcr tban t6e Mon6a~ except by~ proper en~oraement alGxed to snch polic7 ~a~d approved 67
MortRaaee. E;ch polici ot inaunnce ehall bue al6xed thereto a Standard New York Mort~e 6ce Claueo witlwnt Contri.bmioo, makina
all losr or lossee nndEr euch policypa y~ble to the Moetaa~oe ae itr intereat e+ai~ appar. In the event ~n sam or snms o! ~noney beeomc
payable the~eunder the Mortg~Ree shall hrve the option te :eoeive and apply the eame on accon»t af t~e indebtednea hereb~ atcared,
or to permit the Mort~6or to rsceive and use it, or an7 p~rt thcrao(, wit~ont thereby waivin6 or imp~+rin6 an7 eqnity. lien~ or ri~ht
under and by virtue of thi~ mortRaKe. 1n rvent of lw+r or pb~sical damase to the mortRa~ed propertr tbe Mortaa6or sh~ll ~ve imme•
di~te notiee thereo( br m~il to tht MortgaEee and the MortaaRce may maks proof ot loee if tlis same is net rn~de promptl~ 67 tht
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