HomeMy WebLinkAbout1248 YROVll)Ell, ALWAYS, that if the Mor4aagor ehall pay umo the Murtgagee the indebtedneeu; rvidenced br a
CCMAli1 promier~?ory note of which the following in worde and ti~urea is a true copy to•wit:
I
' ~o~ay: /1~ot.
SYi'~~•~ - Miami, Florida ~ 3~s 19~
E'OR V:~L.UE. RECEIV~I~ _ promise to pay
I ic, the order of_ Ji?:-:i ~.1 l~ A.:
~ the principal sum oE ~ DOL.LARS, together with interest
i thereon trom clate at the rate of ten percent. per annum untii maturity, both principal and interest being payable in
lak•fi~l monev of che United States at '~O~ Ropzr Building, Miami, Florida, or at such other place as the holders hereof may, ,
designate in ~writing. Yrincipal and interest payable in installmencs as follows:
~ ~'a DO~~ ,~fi ~Yii~! ~i~~ t$A 2.~7~.~
d~y ct ~rs~r~• 19~6~ aad ~cnati~eias na ~s 1§tii dsy? at
~ r~r ah sr~rr ~ th t3~s r s=?i''ter idi l psS ~ in tul l.
I'hi, nutr ~n:i~ 1~~~ }~rr~,:~iil in ~~I~ulr ur in ~~~ut :~Iter unc ~e:u liun~ tl~~~ ii:ite here~,l u~xr.~ ~~a~nicnt ~~I a ~>cn.ilty (
ei~ui~:ilent tu t~ru ~~ereent ul tlie ~~rin~i~,;il ~~uu ~~rrE~ai~1.
!•:aci? inse:~llment pa}ment shall be credited first on the interest due, and che remaincler un f,rinci~~al; and int::rest
i shal; thereu~~on cease upon the principal so credited.
I "I'he makcrs and endorsers of this note further agree to waive demand, notice of non-papment and protest, and
~ in the event suit shall be brought for the collection hereof, or the same has to be collected upon demand of an attorney,
i tu pay reasonable attorney's fees for making such collection.
Deferred paynients hereunder ahall bPar interest at the rate oF ten pertent. per annum from maturity until paid. ~
"I~tiis note is secured by a mortgage of even date herewith and is to be construed and enforced accorciing to the ]au~s
of che State of Florida; upon de[ault in the payment of prinnpal and/or interest when due, the whole sum of pnncipal
ancl interest remaining unpaid shall, at the ontian of the holders, become immediately due and payable. +
- -..L~.. .iv li:.~S ~SEAL) ~
i;VYLi~ .:U ~IL"~5 I
{SEAL) ~
and ehall perform, cornply with and abide by each and every the etipulationa, aKreementc~, condition8 and covenante of
aaid promiaROr}~ note and of thie dPed, then this detd and thP eetate thereby created ehall ceaee and be nuil snd void.
1. 'T}ie Mortgagor hereby covenan'ta and aareea: ~
(a) To pay ¦11 and ~in6ular thr principal and ioterat ~nd et~ ~am~ ef rooney parable by virtue ot said pramisaory oute an1 thie
deed, or eithcr, promptly on the daye raspectively the ~ame ~e+renli7 beeorue~ cive.
(h) To permit, commit or euQer no w•aste and tu mriatain ihe improvemeau ~t all times in s st~1e oi 6uod repair and conditi~u; •nd
to do or permit to br dune to eaid premisee nothia6 that wiA alter or e6an~e the nse and ~".uraeter of wid propert7 or in soy way
impair ur weelccn the decurity of this mort6a6e. And in ea~e of d~e refnsal, nedlect or inability of the 1Nort6aaor to rep~ir aod maintaiu
said pruperty, the !~tortsa6ee tin~y, ~t 6is optinn, make wch rep~in or cause t}x wne to be made, and ~dvance mone~ in that be6alf.
(c) '1'o pay ail and einaular the texe~, aisesements, ievia, liabiL'tiee, •nd abli6tUosa ef ever7 wture on wid dueribed preperty uch
and every when due and payaLle accordinR to law, before tLey become delinquent, •nd to .deliver to the Mort~a6ee on or before March
lith of each rear taz re~tipta e~~ickncin6 tht paymtnt of all lawfull~ imposed taxea ior the precedin6 ealendar ytar; to indemnifr the
]lortgaRee upon hi~ dtmend (ur eil taxee, Qesteartfente ¦nd cha: grie that rn~y be as5d•ed upon this mort6aae on iht indebtednese 6ecured
herehy, rnd paid bY the mortRa~ee, withuut re~ard to ¦ny Lw 6eretofore ena~ted or hercaCtrr to bt enacttd imposips parnunt of the
whole or an}• part thereo( upon thc Mortg~gee.
1 d) To pay all and singular tht coets, char6ee ¦nd e:ptntte, ineludinE lrwytre' (tu and ~batract tosta rcasonablp incurred or paid at
any time by the Mort6agec ber~use o( the frilure on thn part of th~ ~lortrtaKur to per4orro, coa~ply witli rnd abide by each and every
the etipulations~ eEre~ments, conditions ancl co~~enanta o[ said promieeory note rnd thie deed, or either, and every eu~6 payinent ehrl!
bear intereet lrom dat~ at thc rate of ten ptr crntum per annum.
(e) It is tunher covenant~d and a~creed by wid p~rti~~ thet in the evcnt of a Euit beinR inetituted to forecloee thie mortga~e, tbe ~lort•
Ra~ee ahall !re entitled to epply at any time pendiu~, ~m6 tor~elosure suit io tht court havina jurisdittioa eberc~u( for the appeiafinent
of ~ receiver of •ll and ainaular the mort6a~ed property, and oE all rerns. incomd, pro~ti, iuues •~sd revenues thereo(, from w}utsocver
eource derived; and thereupnn it ie hereby eapresely eovcrunted and a6rred th~t the Caurt ehall (orthwith appoint eneh receiver with
the uauel powere and dutiee of rcceivere in like cases; aad wid ~ppaiutment a6sll be made by tFk eourt ae r matxer of e~trict ri~,'6t to
the MonKagce, and without referrnce to the ~deyuacy ar inadtquaey of the value o( the proptrty hereby mort~Ceged, or to the eolvency
or ineolvsncy of the Mnrtgagors or any oiher party deiendaat to euch suit. The Mort6aRor 6ereby specifie.ally waivee tbe right to
object to the appointment of a recPi~~er ue aforeeaid and hereby txpresely connents that ench appointment e6a11 be mede ae an edmitted
equity and ae a matter of ahsulute rip,ht to the Mart6a6te and thilt the 6~Rlt msy be done without noticc to th~ Mori~p6ar.
(f ) I( tare~loeure procreding,s eho~ld be inetituted ~6ainst tbe propert~ covered by thie mortga6e apon any other lien ar claim whtther
slle~ed to be superior or junior to the lien of this mortaa~e, the Mortga~~e m~y at hie option immediatdy upon ineiit«tion of eurh
suit or durin~c th~ pendenrp thereuf declarr eh,s mor~6.ae and tbe indrl~tedneas ~ecured 6~reby due snd pa~ablc forthwit~ rnd may •t
ite option procred to forrrlvee thit inori~age.
(RI Thet the ifort6ap;or will keep all real and personal property now or her~eittr encurnbered by the iien of thie murtRa~e insured
aR may he rcquir~d f.om tin~c tu ti+ne by the Mort6a6ee •pe~t loee by 5re, windstorm and other hazards, caeualtiee and contin~eociee
for such ~criude and tor not ieba than such ~moumis as ma~ be reqaired by the Mort6agce artd to pay prompdy w6rn due ali premiume
for eu~h inaurance. The amounte of inaurance reqnited bY tbe Brlortga~ec echall bt the minimum amounta for which eaid ineurance ehall
li~ written and it ehall be incumbent updn tht Mort~aKor to maintain eueh •dditional inearance ae ruay be neceaaary tu mett and con~ply
fully with alt cainaurtnce requirementa conteined in wid pelitid to t~e end that the eaid Nortga6or ie not a caineuror thereunder.
ineurancr ehalf be writttn by s company' or eompaniea apprvved or ddig~eted by tht Martga~ee and a!1 polici~a and rrnewals thereof
ehall be held by the lltortqa~ee. Ai! detailed deai6nation~ by ibe Mnrt6aSor which are aecepted by the Mort6a6ee and all agreemente
Letwern 11'Yort~r,agor and Mortgagee rclatinF to insura~e, now exietinR or herr~her madc. ehall be in writinF and ahall Ire o part of this
~nortgage agreement aa fully ae thou~h set (orth verbatim herein ~nd ehall ~ovetn bc~th parties hereto and their encceeeors and aaeiRne.
\o lirn upun sny of eaid poliriee o( inaurante or upon ~a7 refu~d or return premium which may be psrsble on lhe cancellation or
termination thereof, ehall be given to other theo the :M1ort~a6ee, except by praper endorFement affixed to such policy and approved by
~turtga~ee. F,arh policy of ineurence ehall hexf ¦iFixed thereto a Standard New York ~9urtga{~ee Clauee withoat Contribution, makin~
all Ivse or loeaea under auch policy paysble to the NortEsget ae ite intrreet may appesr. In the evPnt any aum or eume of ~noney ~~oroc
p~yoble thcrFUnder the MurtgaRee !}18II F]AYf the option to recsive and ~pply the eame on ac~ount ot the ind~btedneee hereby eecurcd,
or tu prrmit thr Mort~eFor ro receive and use it, or any part thereof, without thereby waicioR or iropairirs6 eny equity, lien; or right
under and by rirtue at thie mortRaRe. In evcnt of loea or phyei~at dama~t~ to th~ ~nortpa~e~I pro}Nrty t}IC MortRagor ehall ~ivt imme•
di~tr notice theteof by m~il to the Mor4Fa~~e ar~d the :~SortFaRee may ruske proof ot lose ii the same ie not m~de prompdy by thc
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