HomeMy WebLinkAbout0508 ~'ROVIUEU, ALWAYS, that if the Mortgagor ahall pay unto the Murtgage,e the indebtc-~lners evidenccd br a
certain promieeory note of whieh the following ira worde and fi~,?urea ie a tnie copy to-wit:
,
' Ma~s No~a
s Miami, Florida T~! ~_19 ~s
FOR VALUE RECEI~,/ED promise to pay
to thc order o[ W~*+~~ ~Serger ~ s
the ~~rincipal sum of ~O ~0~~~~ ~ ~I~~ ~ Z~OLLARS, together with interest
i LfICCCOil from ciate at che race of ten ~rcent. per annum uncil maturity, both prinripal and interest being payable in
' Iaw•ful money of the United States at `~U~ Roper Building, Miami, Florida, or at such other place as the holders hereof may '
' ~iesignace in wrieing. Principal and interest payable in installments as follows: ;
~
I '
~ Pitt~-t'iw (=55•00) Do11sr~ g~r awnth i~innia~ an the
i lgth fl~yr o! Jsa~uut~r, 1966~, au~d aasitinu~.rag on the 15~h
i dsg ot eae~? r.e~od rrsa~r a0nth tbersaft~r unti]. pai~ ia t'c~.l.
i
, 'f'his nute ni;i~ i~e ~~re~,aiel in ~~1?c,lr ~~r in ~~art :ilter c~i~e ~c:u Iru~u the ~t:ite lierec~i u~,c,n }~.~}'n?ent of a E~enalty
ei~ui~~:~lrnt ~u t~vc~ ~~erceut ut the ~~rinci~~:~l suui ~>re~~ai~l.
i F:ach installment payment shall be credited first on the interest due, and the rerna'snder on ~~rincipal; and interest
shall thereupon cease upon the principal so credited.
The makers and endorsers of this note further agree to waive demand, notice of non-pa}~ment and protest, and
in the event ~uit shall be brought for the collection hereof, or the sarae has to be collected upon demand of an attorney,
to pay reasonable attorney's fees f~r making such collection.
i Deferred payments hereunder shall bear int~rest at the rate of ten ~.~ercent. per annum from maturity until paid.
?his note is secured by a mortgage of even date herewith and is to be construed and entorced according to the laws
of che State oE Florida; upon deEaulc in che payment of printipal and/or interest when due, the whole sum af principal
an<t interest remaining unpaid shall, at the option of the holders, become immediately due and payable.
Nio se Pinkney _ ~SEwr.) i
Ollie rs. Finkne~ ~SEA.L.)
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anci ahall perform, comply with ynd abide by each and evt~• the stipulationa, ~~reemente, conditions and covenantx of
saicl promiaaor}~ ~ute and of thie deed, then thie deeti and the eetste thereby created ah~ll cea~se and be null and voi~i.
1. 'I'he ~iort~:~gor 6ereby eovenantr and ~~rees:
1 a) To pay oll and ~in~ular the principal and intcrut and otbar ~om~ at money p~rable by cirtoe of said promieeory nute and thie
deed, or either, prampdy on the d~yr rdpectivelr t6e same ~era?Ir become~ dut.
(bl Tu ptrmit, commit or suHer no warte ~ad to maintain tbe improvemenq at a!l umes in a atate oi 6vod repair ~nd conditiou; and
tu do or permit to tx done to eaid premisee nothin6 th~t ~vill dter or ehanre the aee and eh~ractor oi wid propert7 or in an~ way
iTnpair or weaken the ~ecurity of thie mortaa6e. And in ca~e oE the retnsal, neEleet or inabilit7 uf t6e Mert6aaor to repair and maintaiu
eaid propeny, thc Mortaa6ee auy~ at his option, make ~aeb rep~irs or cauae tbe ~arae to be made, aod sdrance money~ in tLat be6alf.
i c) 7b pay all and singular the taxe~, asae~sments, lcvics, li~bilitite, and obli6suone af ever~ oatnrc se wrid deseribed prepcrty egch
and every wh~n due and payable accordin6 to l~w, before tbey becomt delinqutnt, ~nd to ,deliver to tbe Mart~sgee on or before Match
15th of ta~h 7ear tax re.eipte evidencins the paymtut of all lawfully imposed tazta for the prece~na calendar ytar, to indemnifr thr
'~1ortRr~ee upon hi~ demrnd fur al{ taxee, assesamente and eLar~es t~ut ma~ 6e aases~ed upon tbi~ moR6a6e on t6e indebtedneee eecured
hereby, and paid by the mortgaFee, without re6ard ta any l~w berctofore enactrd ar hereafter ta be enacted ~mpos;oa P.y~~eot of the
whole or any prrt thereof upon thc :Hort~aget.
1 d? To poy all and eingular the cuete, c6ar6es aod ezpeneea, iodudinE l~wyere' foa and abBtract eoste reasonably incurred or paid •t
eny time by th~ Mort6agee because of the frilure on the pm of the 'ltortga~or to perfarm, coniply with and abide by each and every~
the etipulation~a, agreemtnts, conditiong and coven~nte of eaid pramieaory note ¦ed thie deed, oc tetLet, and evtry euch pay~ntnt ehall
bcar interest from date at the rate of tert per centum per annum.
(e) It ie further covenanted and e~rred by eaid p~rtiee tbrt in the event oF a Euit beio6 inetituted to (orecloae thia mort6a6e, t6e Mort-
Ragee ehall br entitlyd to apply at any timc pendiu5 ~ne6 Iereelowre wiit to the esnrt having jurisdietion ebereof for the appointment
of • receiver of aIl and sin~nl~r the mort~s~ed property, ~nd of ~11 retrie. incomes, praSta, i~sues ~nd revtuud t3~ereoi, irom MrLstaoever
eource derived; and thereupon it ie hcreby expre~sly eoverunted and asreed th~t the Court ~ll forthvrith appoint eneh reteiver with
the usua[ powere and dutiea o[ reeeivere in like caees; aod wid appoi~cmenc ahrll be mr~de by che eo~rc a mstter of strict riEht to
the :Kort~pgee, and wit6out rcfennce to the adequacy or inadeqnaey of the value o[ the proptrty hereby mortaa6ed, or to ihe eolvency
or ineolvency of the Mnrtgsgora or any Ot~lfP party dctend~nt to euch euit. The MonaaRor 6ertb7 spccificallp waivta the right to
ubject to the appointment of a recei~~er us a(oreesid and hereby acpresely ronsents that ene6 appointment s6a11 be made ae an admitted
equity •nd ae a matur ~f nbsolute ri~ht to the Mort6a~pee ~nd t~st the aame mir bE done without notice to the More6.aor.
(f) If forrclosure proceedinEs ahould be inetituted ~6aimt tbep~ operty covered by thie mortSa~t npon rnr other lien or claim whtther
ulle~rd to be superior or junior to the lir,n of thie mortsade, the MortEaFre may at his option imraedi~tely upon in~titution o( eur}~
euit or during the pendency thereof declart this moRpae and tbe indebted»~se setured hereb' due and pa7abtt forthwith and may •t
ite optinn proreed ta forecloee. thi~ mortFage.
( g) Thet the !~1ortEeKor will keep all resl ¦nd personal property now oc hereafter eneumbtred by the lien of thia mortRaae ineured
ar rnay be ffl~lllfP(I ~[ORI time tu tiine by the Mona,6ee ~6ainst loes bv 6re, windatorm snd othtr haxards, rasualtice and contin~eocies
for su~h periode and for not lesa than such amounta u asa~ be ~eqaired by the Mortaa6ee and to pay promptly when due all premiwne
for eu~h insuranre. The emounte of inaurance reqnired by tht Mortga~ce Ehal1 tx the minimun~ amounte for which qid inauranc~e ehall
be written snd i[ ehall be incumbent upon the Mort6a6or to maintain we6 •dditional ioeannce ae may be nscessary to meet end comply
fully with all co-insuranee requirementa comuined in iwid prliefea to the eod tbat thc said Mortga~or ee not • cainenror thereundcr.
Insurence shalr be written by a company~ or tomp~nid sppmved or de~ianeted by tht Mortgs6te and all policiea and renewyla thereof
ehall be held by tht MortRa6ee. All detailed deai6nation~ b~ the MortLra6or whir6 •re aecepted by the Morc6.a~e ,nd all agreen~ente
between Mort~taqor and Mart6agee rclatin6 to irwursete, now exittin6 or hereafter m~de, ehali be in writin~ and ~all be a p~rt of thie
mortgage agreement ar fully ra thou~h eet farth verbstim herein and ehall 6overa both panies hereto an~ their sncceaaore and aesip~ns.
~io ii~n upon say of baid policita o( insuraate or upoa any rtinnd or return premium whith may be piyable on the cancellytion or
tennina:ion thereof, ahall be Riven to otlser than tbe Mort6aseq ezcept by proper endarscment aH'ixed to such policy ~nd ipproved by
titortga~ee. F,arh policy of inaurence ehall haxe at6xed thereto a Stand~cd New~ York Mortge~ee Clauee .vithout Contribution, makin~
ell losa or loeaes under euch poliry pay~ble to tht 14(ortat6ae te iu intereei rruy appcsr. In tht event anq eum or eume of inonty beranie
payable thereunder the Mori~aKee eholl hsve the option to receive and apply the same on e~eount ot the indebtedneae hereby wecured,
or to p~rmit th~ MortFaRor to receive and uee it, nr any port thereof, without thereby weivinE or impairin~ eny equity, lien; or ri~ht
under and by virtue of thie mnrtgapte. In event of lost or physic'al daruage to the mort~taKed property t~e Mortgagor shall Reve imme-
diate n~tice thereof hy mail to the Mort6a~ee and the Mort(,aEee may makc proof of los~ if the aame ie aat mode prompil~ hy the
gu~~K.~~~. J(.D w ,
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