HomeMy WebLinkAbout0224 PROVIUED, ALWAYS, thrt ii the Mortgagor ehall pay untu thp Mortgagee the indebtednese evidenced by a
certain pmmiseory note ot which the followina in words and fi~urea is a true copy tawit:
' Mo~
~ 2.~s~ ' Miami, Flored~ ~ 19 ~
FOR VALUEM~~~~. • Promise to paY
j to the order of
i the principal sum of DOLLARS. tagether with interest
; i chereon from date at the rate oE ten percent. per annum until maturity, both principal and interest being payable in
lawful money of the Uniccd States at `?03 Roper Building, Miami, Florida, or at such other place as the holden hereoE may
I designace in writing. Principal and interest payable in installmenu as Eollows:
' TYfrta-tirru (~.M~ D~li~tr rr ~wn~i tia~ia~ni,~ s~t ~le~ l'yti a$
I o! .~sdnsr~, 1466. ~ai swt.i~ni~ oa ~M i~ ~s.~r si ~r?sh ~ni ~n?sr~
yrontY ~att~r ~~f,,il lwi~ i~ lnll.
i
"i't?is note ~~~ay i,e ~~re~riid in ~~•hc~le or in t,.irt .?tter <~ne }ear Ir<m~ the clate hereol uF~on ~~ay~ttent of a~>enalty
~ eyuivalent to tw~o E>ercf:nt e~i tt?e ~~rincipal sun? ~ueE~aid.
~ ~:ach installment payment shall be credited Eirst on the :nterest due, and the remainder on ~~rincipal; and interest
I shall thereupon cease upon the principal so credited.
f The malcers and endorsers of this note further agree to waive demand, nocice of non-paymenc and protest, and
~ in the event cuit shall be brought for the collection hereof, or che same has to be collected upon demand of an attorney, d
to pay reasonable attorney's fees for making such cnllection.
~ Deferred paymencs t?ereunder shall bPar interest at the rate of ten percenc. per annum from maturity until paid.
This note is secured by a mortgage uf even date herewith and is to be construed and enforced according to the laws
oE che Stace of ~'lorida; upon default in the payment of principa~l and/or interest when due, the whole Qum of principal
ancl interest remaining unpaid shall, at the optian of the holdtrs, become immediately due and payable.
Claren~c Oliver ~SE~,~ ~
Dorothy i•I. '1'ackett C~livcr ~SEpi,) ~
and ehall perform, comply with a~d abide by eech and evuy the utipulatione,, agreementa, conditiona and coveuante of ,
eaid promiaaor}• note and uf this dr.ed, then thi~ deed and the eatate thereby created ehall ceaee and be null ~nd void.
1. The Mort~agor hereby cavenanta and agreee:
To psy al! ¦nd sin6ular the priocip~l rttd ioterest ana othet enm~ ot moneT pqable by ~~iriut of eaid promieaory nute and thie
deed, or either, prampdy un thc daye r~spectively the rame ~tvetally becomee due.
(b) To permit, commit or suHer no w•aete rnd to m~iutaia t~e unp~ovemenq ¦t all tima in a atrte~of 6ood repair and condition; ¦nd
to du or permit tu t,e dune to Eaid premieea nothio6 th~t Mill aher or th~n6e thr ose and charocter of pid properq or in any way
impoir or wra~Cen the aecurity ot tLee mortsaEa And in eaae oi dx refueal, ne6lect vr iaabilit~ of the Mor46asar to repair •nd msintaio
said property, the Mort6a6~~ tinay, ¦t 6is option, ma~Ce ~nch rep~irs or crwe t6e seine to be mad~., a~d advancr mane~s in tLat behalf.
(cj To pay s? and ainsu?ar the texee, aeats~n~ente, levies, li~bilitiee, and obli~tiooe of ever~ nsturt on qid deseribed preperty each
and every when due and payaLlc accordinR to I~w, be(ore tbey beeonu d'linqurnt, ~nd to ,deliver to the Mort~aee on or before March
15th of esch year ua re~eipte e~~idencinE the payment of all lawfully impo~ed taxrs for the precedin6 caltedar rear; to indemaify the
~iortp~agee upon hir demand for ell taxee, aeeesemente and charsee that m~y be as6e~~!rd upon thii mori6s6e on the indebtedne~ee eecurcd
hereby, and paid by the mort~a~tee, without reEard ro•ny t~w beretofore ~nacted or hertafter to be eoaeted imposin6 pa~meot of the
whole or any part thereof upon the Martgsgee.
(d) To pay ¦!I and einqulrr the cc~ets, char6ee and exp~neea, includinF I~wyere' feea r»d abateact eosts rcaaonably incurred or prid at
any time by the Mort6agre because of the failure on the p~rt of tht ~tortEeRor to perform, towply witb and sbidc by ach and every
the ~tipulations, ag~eements, conditiona and cocenante ot e~id promieeory note and this deed. or eitLer, ~nd every euch payruent ehall
b~ar interut from date ot the rare of ten per ctntum per annum.
(e) It ie turther cov~nanted and ~Kreed by srid parties that in the e~rnt af a sait bein~ inetitated to forr.cloee thia mort~ae, t6e Mart•
Eagte shall tx entitl~d to apply at ~ny time pendiu6 each forecl~urt utit to the court bavie6 juri~dittioo eheren( for the appointment
of ¦ receiver o( all and ein~ular the ~nort6aEcd property, ~nd of all renu~ iucomea, profit~, isauta •nd revtnua tben~of, from ~+~ISOCVer
source derived; end thereupon it ia hcreby expr~0ely eoverunted and a~reed tlut the Court eE~all fortl~wetb appoiat eaeh receiver with
the ueuel powr,re snd dutiee o[ receivere in lik~ cases; aod wid ¦ppointment ~6rA be madt by the eourt ~s a mstter of ftrict ri~ht to
the MortgaRe~, and without rcfcrence to the adequacy or inadequaey of the value of the property hereby morC~a6ed, or to the eolvency
or ineolv~ncy of the Mnrtga~ora or any othcr party deiend~nt to eu~h Fuit. '~'he Mort6aRor hereb~ speci6eally waivte the riRht to
objert to the appointment of a recei~~r ae aforesaid and hereby oipreealy con~ents that ench appointment shall be made aa ~n admitted
equity and ae a matter of absulute riRht to the Mort~,ra6et ~nd th~t the samt may bc dorue without notiee to the 1Mlortas6vr.
(C) Ii (orecloEUre procredin~s ahould k~e inetituted ~6ainat the property tovered by tLie martga6e npon aay other Iien or cloim whether
slleRed to be nuperior or junior to the lien of thie mvrtEs~e, the ~11ortRa~~e may at hiE option imtned'eately upon inetitueion of lUfF~
suit or e~uring the pendency thereof drelare this mortgaae and t6r indeL~ednPSe etcurtd hereby due and pafable fonhwith and mey at
its option prorPed to forerluee ~hie n~ortFaRe.
(R) That the 11ort~gor will leep all real and persone) property now or hertafter encumbered by thz lien of thie mortaa6e inwred
ae msy be rcyuired from tinte to titne by t6e Mort6a6tt ~~inat loee bv firt, windetorni and other Fusards, caeualtiee and contin~enciee
(or snch perioda and for not leaa thsn such amoanta a~ ma~ be reqairtd by the A4oct6agee and to pay prompdy w,ben dut all premiwne
for eurh inaurance. T'he amouMe of inearnnce requirtd b~ tbe Mo~tp,a~e¢ Rh~ll be the minirnum ¦mounte for which eaid inaunnce ehall
be writtrn and it ehsll be incumbent upon the Monbs6or to maiotain surh additinnal inenrance ae msy be neceesarp to meet and conip{y
fully with all co-ineur~nce requiremente eonuined in wid polieiee to the eod t6~t the said Moctsa~or is not s co-inearor therennder.
Insurance ahal!' bt written by e company or comp~nies •~proved or deeiEnated by the Mort~a6ee and all policiea ¦nd reoewals thereof
ehell be h~ld by the MortgaEer. All detailed deaisnatic~ns bj cM Monxeaor whic6 are aeeepted by the Mort~6ee snd sll agresmeote
between MortFagor and Mort6agee rcletin~ to i~arance, aow tzietin6 or herca[ter m~de, s6a11 be in wtitinR and eball be a part of thie
mortgage s6reement as fully ae thoupth ett forth verbatim herein and ehall Rovern both psrtic~ hereto and their snceeesote and aaei~ns.
10 lien upon any of baid policiee of ineu~ance or upon any refund or return pren~ium which may be payable on t6e eancellation or
termination thereof, ehell bt Fiven to oth~r than the Mort~~Ree, except by proper endorsem~nt affi:ed to euc6 policr ~nd ~pproved b~
~l~rt~SaF~e. F,aeh policy of ineurance ~she11 hsxe ef6xed thPr~to a Stamdard NeN York MortgaKee Ctaue~ withoot Contribution, mrking
¦ll lose or loeees under ~uch policy payabl~ to t6e Mort~ragee aa ita intereet m~y appear. In the event anp eum or enme of money b'~omc
payable thcreunder the MartFaRee ehall have thr option to receive and apply the eame un a~~ount of the indebtedneee hereby etcurtd,
nr to p~rmit tlhe MortKaRor to recei~•e snd use il, or any part thereof, without th~r~by waivinE or impairin~ any equity, lien~ or ri6ht
under and by virtur. of thie mortRaFr. In !'VPOt oC loea or phyei~al damaFt to the moriRaF~d property the Mortga~or ehall R~vr imme-
di~te noiice thereof 67 mail to thc .'~fort€aR~~ and the ltoctXrFtt may make proof of loss if the eamt ie not mode promptly by tht
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