HomeMy WebLinkAbout1537 PROYIDED, ALWAYS, that it the Mort6asor ~hall pay unto the Mort6agee t6e indebtednee~ evidenced by a
cCrluiu prnmis~ory note of rvhich the followin6 ia worde and figurea ie a true copy to-wit:
i
Mo~yoqs /Yot.
~~~~_m Miami. Florida a~--...--19 t~.
FOR VAL~~V~. promisetopay
to the order of
the principal sum of DOLLAR5, together with interest
chereon from date ac th~ rate oE ten percent. per annum uncil maturity, both principal and interest being payable in
lawful inuney of che United States at 203 Raper Building, Miami. ~lorida, or at such other ptace as the holders hereof tnay
designate in writicig. Principal and interest payable in insta~llments as follows:
!~!s#~ }=30•~y D~il~as~s ~wwt#!t ~ ti~
3,'~~it ~qi? at D~~~, 19~. ~ ~a tti~
1S'~ i~a ~1~ ~ ~ ~ 'o~til
~
"1'his note n?ay be prepaid i?y ~vhole or i~f ~~art aiter c,ne ye.ir trom the datc hereof u~~an paytYient oE a pena ty
et~uivalent to two ~~ercent oE the principal SUIlI prepaid.
Each installment payment shall be crtdited first on the interest due, and the remainder on principal; and interest
shall thereupon cease upor. the principal so credited.
The makers and endorsen of this note further agree to waive dtmand, notice of non-paymenc and protest, and
in che event suit shall be brought for the collection hereof, or the same has to be collecced upon dernand oE an attorney,
co pay reasoneble attorney's fees for making such callection.
Def~tred paymenu hereunder shall b'ar interat at the nte of ten ptrcent. per annum from maturity until paid.
This note is secured by a mortgage af even date herewith and is to be construed and enforced atcording tn the laws
of che State oE ~'lorida; upon default in the payment of principal and/or inttrest when due, the whole sum of principal
and interest remaining unpaid shall, at tht option of the holden, become immediately due and payable.
Ralp~ Cain, Jr. ~sE~,)
T'o r~aaa Cain (s~.)
and ahall perform, comply with and abide by wcb aad evuy the stipnlations, aareemente, conditions and covenante of
aaitl promissory note and of this deed, then thie deed and the eetate thereby creAted aha11 ceaae ~nd be nntl and void.
1. The Mortgagor hereby covenanL and aarees:
To pay ~Il wd ~in6ular dx prineip~l ~ad iMerpt aad ~~~a ef inener pa~.bte by cietue oE said pcemissorT note ~d 16i~
doed, or either, promptlr on the diTa rdp~ecti~ely t~e ~ame reve~nH7r beeomer due.
(b) To per'mit, commit or ~u~er no wa~te and to maintain tbe Lnprovements ~t all dmd in a etste oi `uod repair ud eonditian; ~nd
to do or pecmit to be done to said premisq nothin t~t ~rill dter or ebaa~,e t6~e nse and eh~traeitr of ~aid property or in anr way
imp~ir or weaken the oecnritq of thie mongaae. An~ in eare of t6e refwal, ne6lect or inabilit~ o( t6e MsKpaor to eep~ir ~nd maistaia
wid propen~, the Mortpdee nay. ~t !w option, make sacb reprin or cawe tbt wnt ts be made, awd adraxe moneTa in thrt beiulf.
( c) To pay all ~nd ~in6nl~r the axes, ss~cs~menu, levia, Wbilitiea, and obliptiom of everp ottnre ~n ~rid de~cribed property aeL
and every when due and payable ~ecordiu6 to la~r, before tbe~ become delinq+uent, md tn ,deliver to tbe Mortp6ee ou or betore March
15th oi each 7ear a: reeeipu eridcncin6 tLe ps~eot of dl Ia~rtuUr impo~ed tazd for the preoediur eakadar rar; te indemeifr !he
Mortsa6ee upon hia demand for all taxee, aasea~ments and e~r~ th~t may be assessed apon tLia rNrtp~e ~n the indebted~oeas secured
hereby. and p~id b~ the mortaa~yte. without resard to ¦ny law 6e~to(ore enacted os 6ereafter to be eo~cted impesin6 pqmcat of the
whole or ~ny part thereof upon thc MortSasee.
( d) To p~r ~1l and ~ingular the costa, cbwr e~ and expeq~ES, indudin6 law~en' feea ~nd abstract twrs reYan~b17 incnrred or paid at
~nr dme by the Mort~aace bec~uae of the ~ailnre on tbe part of the ]dortsa6or to perform, ceoipt~ ~vi~6 md abide by esch aad every
t6e etiputationt, a~reements, conditions and eocenants of eaid promiswt~ aote ~a~ thie deed, or eitiier, and ev~ry aucb pa~rneat shall
bear inte~est tro~ date at t6e r~te ot ten per centum per amam.
(e) It is lnrth~er r.nvenanted and s6r~ed by ~a9d parties tb~t in tbe eveut af a suit beiu6 iartituted t~ foracloae tLi~ mort6t~e, ibe MoR•
~aaee shall be eutidtd to apply ¦t aay time peodio~ rneh fereelewre wit to t6e es~rt barisa juridictioo eLe~eoi for the sppei~neat
of a reeeiver o( all and sinsular tbe moRSsaed proputy, and of dl rems. ineemes, pr+6es, isroe~ and t~venms tLtroad, Irom ~?hsqeevcr
suurce derived; and tbereupon it i~ hcreby expressl~ eovea~nted and a6reed t~t tbe Gnrt ~6~1! tortb~?it6 appoiat sueb reeeiver with
the wwl powers aod dnties of receiven in like eare~; aad rtid tppni~anent a6r1! be made br tbe eonrt ay • mstter of prirt ri~ht to
the Mortaa6ee, and withoat reference to the adeqnaer or inadeqa~cy of the vdne o( t6e pcoperty berebr rooKaa~ed, or to tbt eolvency
or inwlventy of the Mort6a6or6 or any other p~rty defeadtot to svch 6UlI. T~1E MYfL~66[ 6ereb7 ~peeiScally waivea tLe ri6ht to
object to tbe appoiatmeat of a rcc:ivet as aforrsaid and 6erebr espnwly consents dut each appointment ~bal! be made as an admitted
eqait~ ~ud s~ a uutter oi abaolute ri6ht to the Mortp~ee aed tLtt the eame m~r be done withoat aotiee ts t}~e Moet6aror.
(f ) If toreelosure proceedin~ ahould be inetituted apieet tbepr optrty covered br this mort~,s~ opon aa~ otLer liea ar clsim wbether
¦lleaed to be superior or junior to the lien of tLii mortpae, t6e i~iort~a~ee msy at hia option iartnediatel~ npan i~titution of such
sait or durin6 the pendency thertof declare [~U6 IDOrI~~E ~[Id [b! indebtedness oeeared hereb7 doe aad p~~able forthwith and may at
~ itr option procced to lortcio~e this naort~;a6e. '
(6) 'Phat the Mort6a6or will I~ecp all real ~nd penonal properq now or 6ereaher encumbered b~ the lieo of this mortKa6e insured
ae may be required from time to ti?ne by t6e Mortaasee ~pint lws b~ 5re, N1O~0~ aod other hasarde, casualties aad contin6encies
for eneh periode aod (or not Ips t6an euc6 amoumts as m~r be reqair~ed by ibe Moreas~et and to par ptompdy wlun dnc all premiume
for ~uch inauranra. Thc amounu af insu»acc reqairt~d b~ tbe 1~ottaaBee e1~r11 bc the minimmn smounts for which qid insunnce ehall
E~e written •nd it shdi be incumbe~t upon tl~e Mortdtaer tv mMidaia sneL ~dditiond intaranee ae nuy be occeaear~ to mat and comQly
iully with all co-insurance reqniremenb eootsined in qId p~iieias to the aed tLtt tbe aid Mort6t~or is not o co-insnror tl~erennder.
In~uranct sbalr be written by a companp or tompanip ~pptored er de~i~oebed br tbe Mort~asee ond allpo lities aad renewala tbereoi
ehdl bc held b7 the Mortaa~ae. All deailed desi~tioas by tbe Mort~a~or whieh are secepted by the Mort~6ee ~nd ~Il r~ermsnu
between Mort6a~or and Mort6aaee relatin6 to ia~snrf~ee, now esittin6 or hereafter madc. shsU be in ~rritina aad shall be a part of thie
mon~ae a~reemeat ss fnllr as thoush ~et forth verb~Wn he~ein ~nd ~hall 6overn botL partiee bereto and their wecasors and aesiEna.
ti1o 2ie~ upoe ~ny ot said~?olities of 1MU[iME O[ ~OII w~ refaad or return premiam M6ieh may be pa7able on !Le cancellation or
termination thereof, sbail be 6ivcn to otber than the Mart~,~ee, exc~pt by propec endoratmeat aiGxed to wch polic~ ~nd spproved b~
Hort6sar,e. Each polic~ of insurance ehdl haxe a~xed thereto ¦ Staedard New York Mortsaaec Cl~use witboat Cootribntioa, m~king
ell loas or loswcs nnder snch polie~pa yable to che Monaasee a~ iu interat roar appear. In the event an enm or sams of inoney becomc
payable thcreander the MortgaRee ~hall have the option to reeeive and apply the sarme on acconnt oE ~e indebtedaeas hereb~ aeeured,
or to permit the Mort6a6or to receire and uae it, or any prrt t~ereof, witbont thereby waivins ar impairia6 ao~ equitp, lien{ or riaht
under and by virtne of tbis mortRa6c. Ia event of lo~e or phrical dawa6e to che monFa6ed propen~ the Monaaaor ehall ~ve imme•
di~te notice thtreof br mail to the Mort6adee and the Mart6asce mar make proof o( loee if the same ie oot madt promptly b~ the
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