HomeMy WebLinkAbout2338 YROVIUEU, ALWAYS, that if the MortaRgar ehull pay~ unto the M~riga~ee the indebtedaeea evidenced by a
certain promieeory note o[ which the folloeving in worde and figuree ie a true cupy tawit:
i
Mo~t~oys /Ya~.
# Miami, Florida a~~ 19~
~ •
FOR VALUEA~V liar s~tlt itii M~~~i promise to pay
io the order ot
! ~he principal sum d~_~pip~_~~ i111a1y?d '.~Y~s~-!`lw i~~ DOLLARS, together with inttrest
j ehercon irom clate at the race of ten percent. per annum until maturity, both principal and interest being payable in
i lawful rnoney of che United States at ?09 Roper Building, Miami, Florida, or at such other plare as che holders hereof may
designate in writing. Principal and interest payable in instaltments as follows:
i~1~Mr?t,~ (iT0.00) Dolla~e+~ ~rr wo~1A tr~,~im~.ins aa 3~
i~t~h dr.,~ a! D~srD~a, 19iS• ~tM e~~3~ an th~ 15th
i c:~ ..S ~ r.o~i ~Y~q saotti t~itrr~~t~ar vatil paid i~
~ t`ulI .
I "I'his note n~ay be ~>rrlr~i~t in ~vtu~le or in ~?art after une ye:n trun? the <late herec~[ uEx~n E~ayment c~f a}~enalry
i eyui~•atent to two E.~errent o[ tttie ~rinciE~al sum prepaid.
~ Each installment payment shalt be credited first on the interest due, and ehe remai7der on ~rincipal; and interest
` shatl thereupon cease upc~n the principal so crediced.
~ "The makers and endorsers of this note further agrte to waive demand, notice of non-paymenc and protest, and
I in che evenc 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 bear inter+est at the rate of ten percent. per annum from maturity until paid.
This note is secured by a mortgage of even date herewith and is to be construed and enforced according to the laws
oE che State of Florida; upon default in the paymeni of principal actd/or interest when due, the whole sum of principal
ancl incerest rernaining unpaid shall, at the option of the holders, btrtome unmediately due and payable.
?Jilliam Cleveland, 3r. ~~E~~
~IC~yri B. CI.CV'CZaI1C1
(SEAL)
and ehall perform, compl~• with and abide by each and every tht stipulatione, ~~reemen4a, conditione and covenant8 a[
eaid promisaor}~ note and of thie deed, thtn thie dted and the ~eetate thereby created ehall ceaee a~nd be null and void.
1. The Mortgagor 6ereby covenanta and agreee:
To pay oll and sin~ular the principal and intere~t and othar ~sm~ of mooe7 parable by a•ictue of wid promiasory nute and t6ie
deed, or cither, promptly on the dars rdpectivelr tLe umt ~rrerallr b~rconta dut.
(b) To permit, commit or euQer no w~aete end to mbinuin t6e improvemenu ¦t aU timea in ~ etate oi 6ood repair ~sd condition; snd
to do or permit to be done to Faid premiaee nothiu6 th~t ~+ill alter or eFun~e the nee ~nd characitr of ~aid propert~ ar in anr way
impoir or wealcen the security of thie mortEa~c. And in cast of tlie rcfnwl, ne6leet or ieabilit7 of tbe Mort~aar to rtp~ir and ~c?aintain
aaid propeny, thr Mort6a6rc rosy, at 6ie option, make ~nch repain or ca~ese the artne to 6e made, aad advaace moneps in tLat bthalf.
(c) To p~y all and ~insular tht taaes, aaecsrmente, leviea, lisbilities, and obli6etiom oi ever7 nrture oe ~aid destribed property pch
and every when due and payabk aceord'enE to law, before t6ey become deliuqnent, ~nd to :deliver to tbe Mortp~ee on or before March
15th of each rear taa tectipta er•idencin~ the payment of all lswfull~ imposed tazd for the preeedin~ eakodar ye~r; ta indemn;+fy the
Mortsa~ee upon his demand for all taxee, peseesrnrnts and c1ur6~ that may be aasts~ed npon t6is ieortp~e ~n ihe intkbtedneee sccured
hereby, end paid by the mortRsRee, wi~hout reprd to ¦ny l~w 6errtoforc enacted or heresfter ro be emeted iopwin6 pa7nntot of the
whole or any p~rt thereot upon thc ~iort~~g~e.
(d) To pay all ¦nd eiaav~sr tht coete, ehar6ce aud expemte~ iadudinE l~wyere' fees and ~bstnct toqe re~sonably incnrred or paid at
any time by the Mort6~gee because of the f~ilure on the part of the KortpEor to perforcn, ewuply witl~ ~nd ~bide by uch ond every
the ~tipulationa, ~Ereements, conditions and co~~nrnte of uid pmmieeory note •nd thie dxed, or eitLer, ~nd every euc6 psyment shall
bear intertst from date at the rate of trn Fxr cenwm per annum.
(e) It ie further covennnted and aFreed b~ s~id prrtice tbst ia the t~•ent o( t 6uit beinE inetituted to (oreclost thie mort~ee, ibe A1on-
~5aace shall tx entitled to spply at any time pendin6 ~nch foreclusure uiit to t6e ceurt bavio6 jurirdietioo t6ereof for [he ~ppe~ts~tnt
of r receiver of all and aingul~r the mort6a6cd property, and of ~11 rems, iacwnd. probts, issucs sttd tevenud t6e~eol', from whatsaever
eourcc derived; end thereupon it ie hereby expreselr euvenanted ~nd ¦6reed thft the Court ~hall forth~vith ~ppoint sncb receiver with
the ueuel powere and duties ot reeeivtre in lik~ c~~ea; aad ~aid sppointment s~D be mtde by tbt eoutt sf ~ msttcr oi ~triet ri~,bt to
the Mort~ageq and without reference tu the adequacy or insdeqaaey of the value o( the peop~erty 6ereby morCaa6ed, or to tbe eolvency
ot ineolvPncy oi the MnrtgaRors or any nth~r party defendrnt tv euch suit. The Mort~s~or bertbr speeifiully waives ~hc risht to
object to the appointment of a rec~i~•er as aforeeaid and hereby acpressly ~onsenta th~t eneh appointment shall be made a~ an admitted
equitr •nd ae a m~tter of absolut~ riqht to the Mort6aRte ~nd thlt the Eame msr be dont without ooteee to the MoRp6or.
If IOff.tI06Urt ~I~OCPPYIlfl~6 ahould be instituted ~6aiwt the propert~~ covered by t6is mortaaae apon sn~ ot}ur Iien or clrim whethtr
alleFed tu br sup~rior or junior to the li~n of this TrtoH~sae, the MortFaRtt rosy at hiF option immedi~telr upon inetiiutian ot wch
suic or durinR the prnden~y thereof declar~ this mortRa~e md the ine~~I~Fedn~ss ~tcured 6erebr due rnd payrble forthwith •nd may ~t
ite optian proceed to iure+•loee ~hie mortFaRe.
(R) 'T'hat the :ViortFesor will keep all real md personal property now or her~after encumbered by tt~e lien of thia mort~aae inaured
~e may be rcyuired from time to ti~ne by tht Mortaa~ee apinst loes by 6tq windstorro ¦nd other has~rds, casualtip and eoatin~tntiee
for snch perioda and for not leae than sueh amovnt~ o maY be teqnired by the Mort6a6a ~nd to pay prompdy when due all premiume
Cor eu~h ineurance. The sroaunte of inatiirence required b~ the Mortsaaet Ehal) be the miaimurn amounte for which eaid in~nranee ehall
be written and it s6a11 bt incumbtnt upon the Mortsa6or tn maintain sueh •dditiooal inenrante a~ mey be ntcdsttr to mett and coruply
fully with all co-insur~nce rcquirementa couuined ia wid p~licid t9 the end lbat the Nid Mort~`of ie nst a co-iararor Ibcrennder.
Ineurance shslt be writtee by ~ company or companies ~pproved or desigwted by the Mort6a6ee and a11P~ lieiea and renewale thereuf
ehali be held by the Mort6aaee. All deteiled deai~~tiora? b7 the Mort~a~or whic6 ~re aceepted br the Mon6a6ee and ~U a~eeruente
between MortFagor md Mortsagee rclating to irourance. aow esietin~ or hertafter made, e~ll be in writin6 ~nd ~hall be a p~rt of thee
mort6oge ~qsreement rs fully u+ thoush eet iorth verbatim hcrein ~nd ehall ~overn both partiea bereto and t6eir wcceason and aeeiFne.
~io lien upon any o( baid policiee of ineurance or upon aq) refnnd or rcturn premium whirh ma.r be payable on the uncdlation or
terminatiun thereof, ehsll be Riven to othcr thrn the Mort~~,ee, except by~ proper cn~lorsement s~tfixed to sucb polic~ ~nd ~pproved br
bturcgaRee. F.ach policy of ineuran~a shall hexe affexed thereto ¦ SU~dard Nex York MortRaRte Cl~vee r+ithoot Contribution, makinR
sll lose or loeeee under ~uch policy psyable to the MortEaget ~a its interest may appear. In tht tvent my snm or ~nm~ of money b'~on~e
payable thercunder the MortFaRcc ehall have the optinn to reeeive and apply the E~me on ueount of the ine~ebtedness i~treby secured,
or to permit the ;OtortRrEor to receive snd ute ii, or eny pert thereo(, wit6oui thereby waivinR or imp~irin~ anr eqnity. lien~ or ri6ht
under and by virtae of thie mortgaRr. In ~vrnt of loes or pb7ei~a1 damaFe sn the morlRaXed property tht Mort~6or ehall Rive imme•
di~te notice thcr~of br msil to thc ~(ortFa~e~ And the MortFaRre mey mAke proet of lose i( the eame ie not made prompd~ b~ tbe
aooK~~~ J~~
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