HomeMy WebLinkAbout0161 YROVIDEU, ALWAYS, that if the Mortgagar ahaU psy unto the Mort~a~,ee ihe iadebtetlnees evidenced by a
certain pra;mieeory aote o4" which the following in worde ar~d fi~uree ie a true Copy tawit:
' Mo~po9. ~No~.
S ~a~:~ Miami, Florida ~'0~ 19
~ FOR VALUE RECEIVED l~d~'! ~ promise to pay -
i' cu the order oi 1'b~7 ''a~'
; che principal sum of OLLARS, together with interest
chereon frum clace at che rate of ten percent. per annum uncil maturity, both principal and interest being payable in
l;~w~ful money of the United States at `~0~ Ro~er Building, Miami. Florida, or at such other place as the holders hereof may
~ designace in writing. Principal and interest payable in installments as follows: ~
! or. ~ie~d ~'luao.oo) to~u~r. p~t ~h s~sa~t aa t~r~r l~e a~r e~
~ D~~ 1~5~ aed m tit l~lt d~ a~' ~oh ~ad ~wdr~ sro~
~ tlt~ar~a!'tee ~11 3s l1Rii.
{
i "I'hi; note nia~~ t~e ~~re~~ai~t in ~~•hule e~r in ~~art alter c~ne ~c:u truu~ tl~e cl:ite herec~[ u~>c>n ~r.t~~n~ent c~f a penalty
I eyuivalent tc~ twc> ~~ercent c~l the ~~rinci}~al sum ~~re~~ai~l.
I ~:ach ir~stallment payment ;hall be credited firse on the interest due, and the remainder on E~rincipal; and interest
shall thereupon cease upon the principal so credited.
~ The makers and endor~;::s of this note further agree to waive demand, notice of non-paymenc and procest, and I
i in the event suit shall be brought for the collection hereof, or the same has to be collected upon demand of an attorney, I
t~ pay reasonable attorney's fees for making such tollection.
~ DeCerred paynients hereunder shall bear interest at the race of ten percent. per annum from maturity until paid.
"This note is secured by a mortga~e of even date herewith and is to be construed and enforced according to the laws
of the State of Florida; upon default in the payment of principal and/or interest when due, the whole sum of principal
anci interest remaining unpaid s:hall, at che option of the ho~ders, become immediately due and payable.
Glaf S. ~iler~tson ~sE~.~
:lorcnce E. Eilertson (SEAL)
~
and ehall perforrn, coneply with and abide b~• each and every the etipulatione, a6reementa, conclitiona and covenanta of
Raid promiaKOr~~ note and uF thie deed, then thie deed and the eetate thereby created ehall ceaae and be nall and void.
1. The MortKa~or hereby covenanta and agreee:
(a) To pay rll ~nd ~in~ular the priucip~l and iatereu •nd other sua~u o( money payable by cirtue ot wid prowiaaory nute and thie
deed, or either, prompdy on the daya reapectively the eame reverullq brconutis due.
(t>1 To permit, rommit or suHer no r.rete ~nd to mainteio tbt improv~menu ~t ¦Il tirota io • etate of 6uod repair and eonditioo; •nd
to do or permit tu be donc to said premises nothiu~ that ail) dter or chan~e tht uee and ~4uraeter of wid propert~ or i~ any way
irnpair or ~•~aken the eeeurity of this mort~aE~. .-1nd in case of the refuaal, ne6lect or inabilit7 of tbe Mort~~or to repair and m~iuuiu
saed prop~rty, the ~Iortgaaee ~~y, wt 6ie option, make sur6 reprire or cauet the name to be matk, aqd adr~nee mot?t~s en tLat be6ali.
(c) 1'o pay ali and sin~ular the tuee, aee~~emente, levies, li~bilitiee, and obli~atione of e~~er~ natare on ssid deseribed prsperiy each
and everr~ wh~n due end payable wccording to law, before they b~cQn~~ delinquent, rnd to .delivet to the Mort~~et on or before Mrrch
15th ot each year t~a receipta e~~iJencin~e the payment ot all 4wfully imposed ta~zra for the precedin~ caltodar rear; to indemnify th~
~tortgaRee upon hi~ demand for all tax~e, aeeeesmenta and ehar~e~ that may b~ eeseeeed u~on d~i~ mortp6e on the indebtedneee eccured
htreby, and peid by the mortRaRee, wi~huut reRard to any law 6tretaFore ~nacted or hereafter to bt enstted imposio6 pa~ment of Ihe
whole ur any- part thcreuf upon thc ,14ort~tagee.
!d) To p~y •Il and einquler the coets, rhar6re and exp~neea, includinR l~wytrs' fces a»d absiract coste reaaonably incurred or paid at
any time br ~h~ Mortgagee brcauEr of the failure on the part of th~ ifortFaFor ta ptrfor~n, twuply rvith ~nd abide by deh ond every
the etipulation6, agre~ments, condi~ionF and cocenante of s~id promiesory nute and thia dted, or eitLcr, aod every eu~h pannent ehall
brar interret from date ¦t thr rate of ten p~r c~ntum per tnnum- '
(e) It ie further rovenanted and eFreed bq said p~rtire Chat in the event of a euit btioR i»stiwied to forecloet tbie mort6a6e, t6e Mort•
Ra~ee ahall be eniided to epply at xny time pendinX such foreclo~urc snet to tbe couet bivins jurisdiction ehereof for the sppointment
of a rereiver of all and ein6nler the niortE~Eed propcrty, and of dl rcnts, incomd, profits, ie~ud and revenuta tLereaf, fcom whatsoever
aourcc deri~~ed; and th~rrupnn it ie hcr~by expr~ealy covena~ttd •nd a6reed t6~t the Court eh~ll forthwith oppoint eoeh reteiver with
thc ueuel powrre and dutice of r~reivers in lik~ caea; and srid ~ppoir~tment ahall be a?ade by the caurt ie t uuattcr of strict riR6t to
the liortp~aRce, and without rcferonce tu the ¦deyuacy ur inodeqwey of th~ value of the propeny hereby mon~a~ed, ot to the eolvency
ur ineoh~rncy~ of the Mortga~zo~e or Af1V OIf1Pf party d~fendaot to eu~h Fnit. 'I`h~ Mort~aEor hereby apeeifically waivue tLe right to
object to thr appointment of a receiver ae aforrsaid ~nd hrrehy expreeely consents that eneh appointm~nx shall be made A! an admitted
equity •nd ae u mAtter oF ahsoL~te riRht to the ]4Sort6aRet ¦nd t6~t thr Eame may bt done without notice to the Mort~6or.
(f ) If For~rloburr procerdin}ts should be inetituted ¦gaioet the propenc ~ov~red by tbie mortga6e npon ~ny other Iien or ciaim whether
alle~ed tu h~ supcrior ur junior to thr lien of this mort6aRe, the 1~iort~agre may at hiR option immedi~tely apon inetitution of eueh
suit or durinR thr grndenry thereof declare this mortRaae and thr indrl~lPt~RPSB ifCU(~(3 ~Cf~I1)' dllt and pa7ablt forthwith ~nd may at
its option F~rorPed ta fure~ luee ~his u~ortEeke.
(g) Thet the liurtgsRor wiil k«p all resl rod pereonal property now ar hertafter encumbered by the lien of thie mortRs~e ineured
a~ ~nay f~e rey~~ired from tim~~ to ti~ne by the Murtaaaee ~6ainet luea by fire, wiodstorn~ and othtr hazards, casualtira ao~ continFenciea
for such periude and for not lees t}un such smounts ~ may be t'eqoirtd by tht MortFagtt and to pay prompdy w6en dae all premiume
for eurh ine,iranre. The emountE of insurenrr rcquired b~ the MonF,aRer. Rhall bt thr. minimum amounte for which said ineuranee shall
be written and it ahall be incurnbent upon the '.Nort6s6or to maiatain sueh ~dditiuna! ineurance as maq be neceasary to meet and con?ply
fully with all co-ineunnce requiremente ceotai:~ed in said ~lifiies,to the ~end.thai tbo said.Mart6sao~ ia-nat ~ eainsaror thereunder.
Ineurance Rhalr be written by e companp or eompaniea' ippcoved o~ drai~nated br the Mot'tRa6ee ana all policiea and nnewals thereof
BF11l~I F1P, held by the '~toKgaFee. All detsiled deei~nrtione b7 the Mortga6or which ~re aecepted by the Mort6a6ee Aad all r~.reenienta
between MortFagor and Mortgagee rclatinR to iroursnce, now ezietin~ or heredter madr, ehal! be in writin~ ~nd eha11 be a pen o( thie
mortgage aRrr_ement re (ully aa thouRh set forth v~rtratim herein and ehall Rovern bnth paRies hereto and t6eir saccesson and aasi~tne.
~o li~n upon sny of haid policiee of ineurAnce or upon aoy refund or return premium whieh moy be payable on the canctllytion or
termination thcr~of, ahell be Fiven to oth~r then the Mort6a~ee, txcept by proper endorEement ~tfixed ta Ruch polic~r and approved by
~lurtga~ee. F,ach poli~y of inRUranre shall ha« affiaed thercto • Standard Ne~ York MortgaRer Ci~uee withont Coutribution, n~skinR
sll iose or lose~e und~r auch poliry pa}ablP to the Mort~ag~e ae ite int~resi may app~ar. In th~ evrnt eny sum os enma of money bc~omc
payeble therFUniler the Mort~aRee ehal! hacr the option to receivr end appl}• the eam~ on accoimt c~f the indebtedaeae hereby e^cur~d,
or tu E)ffR11I ~}1P Mv~tRaRo~ lo recrive and use it, or any p~rt Rhereo(, wiihout thcr~by M'SIYIIIR, o[ imp~irinR any tqnity, lien; -:r ri(,F~t
under and by virtue of thie mortRaRP. in r~~nt oi loee or physiral darua~~ t~~ t}~e ~nortRaRe~I property the Mortgagor Ehall Rivt imm~-
di~te notice th~reof by mail lu thc ~tortK~Ke~ and tht Mort~[aRrr may make pro~f of lo<a if the esme ie not mr~dt prompdy by !he
B~~K 1~1 155
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