HomeMy WebLinkAbout1420 PROVIDED, ALWAYS, that if the Mort~a6or ahall pay unto the Mortgagee the indebtedneee evidenced br a
certain promisenr~ note of which Lhe followin~ in worda and 6~uree ie true copy tawit:
i ~6/a~t9ays Oro~a
~ Miami, Florida_ =a~r u~ 19 ~s
FOR VAL~~~~CE.I~~ promise to pay
to the order oE ~
the principal sum o~ "~OLLAatS, together with interest
chereon [rom date at the rate of ten percent. per annum until maturity, both principal and interest being payable in
lawful rnoney of che Uniced States at ~?0~ Roptr Building, Miami, Florida, or at suth other place as th+e holders hereoE may
desigi~ate in writing. Principal and interest payablt in installments as follows:
roar~r-,~`i.e ~~~-QO~ Dolla~s p~s .0.13 t~ir~ms~ a. ~s.
l~? v1T a9~~ a~M oo~ti~p~ia~ os 1~ l~tb
~ ~qr os rs~1 aoaih iM~t~f~ t~at~l ~ni! ~a
i'1a11.
"1'his ne~te ~~i.?y l~e E~re~,:~icl in ~~•h~~le ur in E,.~rt alter c,ne ye:u- h~,m the c1:~tP hereoE u~~on ~~a~~ment c~[ a Nenalty
eyuivalerit to tw•o E~ercent ut the ~,rincipal sui~? E~ret~:ii~l.
Each installment payment shall be credited Eirst on the interest due, and the remainder on Nrincipal; and interest
shall thereupon cease uF,on the printipal so credited.
"1`he makers and endorsers at this note further agree to waive demand, notice of non-payment and protest, and
in che event cuit shall be broukht for the colleccion hereof, or che same has to be collected upon demand oE an attorney,
to pay reasonable attorney's tees for making such c~llection.
Deferred payments hereunder shall b~:ar interest at th~ rate oE ten percent. per annum fram maturity until paid.
This note is secured by a mortgage of even date herewi[h and is to be construed anci enforced according to the laws
of the State of Florida; upon default in che payment of principal and/or interest when due, the whole sum of principal
ancl interest rernaining unpaid shall, at the option of the holders, become itnniediately due and payable.
ii~.uhani.el Fie3.~y (SEAI.)
:=,dn~. i'~rtc i•:C11y (SEAL)
and shall peaform, comply with and sebide by each and every t~te stipulations, a6roemente, co~ditiona and covenante of
aaid peomisaory note and of thie decd, then this dted and thc t~tate thereby created eha~ll ceaae and be nnl~ and vnid.
1. The Mortgagor hereby covenants and ~grees:
(a) 1'o pay ~Il ~ad siA6ular t6e principal ~rud intersst aad otber ~nm~ at mooe~ p~ytbie by ~~irtue of eaid promiasor~ uote aod thi~
deed, or either, promptlr oa the d~~s reapectivel~ the ~ame ~atally becwu~ due.
( b) To permit, commit or sulCer no w~sic and to mainuin tbe impsovemeot~ at all timd ite a stttt of ~uad repair aad sooditioo; and
to do or permit ~o be dope to wid premisea nothin` t~t ~rill aher or cLan~ the nse and cbarEeter ot wid propert7 or in ~n~ wsy
impair or weaken the ~ecnrity o( tLie mon6.ae. Apd in cs~e ef tbe retmal, ne6leet or is~bilitl mf t6e Mortpaor te repair sed maiau~u
aaid propiertr, the Mort~a~,ee eur, ~t hie option, make web rep~in oe caese the sawe t. be made, u~d ad~sose moneri in that be]salf.
(c) To pay all rnd sinsular the ta:es, as~es~menta, levies, lisbilitid, and obiiptions of eve~ oitare on s~id deseribed pr~perty t~ch
snd every when due .nd p.r¦ble actordin6 to law, before ~beeome delinqnent, aad to ;delivcr to tbe Mortaa6ee o0 or betore March
15th ot uch year tax reeei~u evidencin` t6e payment oE di niull~ impo~ed tasd for the preoedin6 caknd*r ydr; to iodemnify tlae
l4fort~a6ee upon his demaad tor sll uxes, aratrrncnts aed eL~r~ee that maq be aesesaed vpon this nott~s~e O~ lbE IOfIEI1LEanCM 6txUfC(I
hereby, and paid by the mortEaReq withont re6ard to •ny Isw 6tretofore enacted ar hertafter to be enaettd imposina p~ymeut of tLc
wholc or any p~rt thercof upon the Mort6asee.
(d) To pa7 all and ~in~ul~r the costa, c6ar~es aud expenses, indudin6 law7en' tees ond sbstract ewts rdsonably incarred or paid at
an~ time by the Mort~~gee beranae of the failure on the ~rt of the Noet6a6or to perform, toruplp witb ~nd tbide by dch and every'
the atipulations, ssreementa, rondilione and eovenants o( said promieaory D61t aod thia dted, or titLar, and every eucL pannent ~hall
bcar interdi from date at the rate of ten per ceetum per anaum.
(e) It ia further covenanted end aEreed by saidpa rtics tbet in tbe everrt of a 6net beia6 iwtituted ta toreelose tLi~ mort~6e, tLe Mort-
6a~ce shall be entided to apply at sny time pendiu~ rnc6 foredosare suit to t6e t~ort luvisa ju~diction eberoo~t for the sppsiom~~ent
ot • receiver of all and sin6alar the mort~s6ed propeny, and ot ill reou, incomes, pro6t~, iaaa and revtnua tbereoi, troffi wbaueever
eource derived; and tbereupon it ie hereby exprasly tovaanted ~nd •6reed th~t ehe Conrt ~ll forthwith appoint sneh receiver with
the wual powers uid dutiea of nrciven in like ca~; aad uid ~ppoinm~eut sb~ll be made by the court ~s ~ mattcr of strict ri6bt to
the Mort~,a~ee, wd without reference to the rdtqwcy or insdsqaaer of tLe valve of the proptrty 6treby morr~a6ed, or to t6e solvency
or inaolveney of the Mortgagors ar eny ot6er party defendamt to tu~h suit. 'Y7~e Mort~a~oe hereb~ specifiully waivea the ri6ht to
object to the appointment of a receiser ae afureeaid and 6ereby e~preasly corroeata th~t ~nch appointment sha11 be made a~ sn admitted
equity and aa a matur of abaolute riRht to t~e Mortaa~ee ~nd tblt the same rcu~ be done wit}wut notice to the Mort~agor.
(f) If Eoreeloeure proctedinsc should be instituted aaatast tLe propeny covered by this mort~t6e opon ie~ uthtr lien ar claim whether
alleged to be superior or junior to the lien of this mort6a6e, tbe MoriKa~te may at hie option imroediatdy apon institvtion o5 euch
auit or durin~ the pendeney thereof dedart thia moR6a~e and tbe indebtedneee ~ecured bereb) doe a~nd p~7able fart6with •ad may ~t
ite option proceed to forerlust thit inort6a6e.
(6) Thet the Mortsa6or will L•eep tll real rnd penowl property now or 6ereafter eacumbered by the lien of thie martR+e~e ineured
ra may be required from time to timt by the Murtaa6ee arainu low by Sre, windstosrn and other huarda, caduslties aad contin6entiee
for e~eh periode and for not leaa than surh amo~mt~ a~ ma~ 6e reqa~red by the Mortaegee and to pay prompdy when dne sii pcemiuma
for eur.h inauranee. The amounte o( inauranct ceqaired b~ tbe ~ortaa6et ~l?e11 be the mio'smam unounte for which said insannce shall
be written and it thall be ineumbent npon t~e Mort6a6ee to maintain sncb additiowl inaannce a~ msy be necessar~ to meet and con?ply
fully with al( co-inanrance reqnirementa cootaiaed in pid pdicie~ to tbe ead t6at tbe s~id Mort~s6or is not • cainearor thereunder.
Inaurance ahslr be writtea b7 s company or eompanies sppro ved or de~i~ted b~ tLe Mortp~e and sllpo lieies ~ad rencwala thereof
ehall be 6eld by the Mort6a6ee. All dcuiled desi6aations br the Mort~a6or whic6 are ac ted b~ the Mortsa6ee and all a~eesucnu
aa
bctween Mort~agor and Mort6a~ee relatin~ to i~nr~sce, non eslrtin6 or hererftcr made, s6~ be in writins aod ehall be • E?an of thie
mort6sge ~grcement u fnll~ ~e tbou6h ~et fvrth verbatim herein end e6sA 6overn both ptrtiea hereto md tLeir snccdsore and aesiEaa.
No lien upon any of eaid policiea of ineurance or npon m~ reinnd or return premium which m~y be payable on t6e eancellation or
terminstion thereof, ahall be aiven to otLer than tLe Mort~~ except bp~ proper cndoreement ~f6=ed to sneh poUc7 and ~pproved by
Mort~asee. tiacL pnlicy ot insurance ehall hwxe af6xed t6eroto s Stsndard New York Mortaa6ee Cl~ux withoot Contributioa, mrkinq
all loae or loeees undEr euch polieypa y~ble to the Mort~a6ee u iL interat may appear. In tht evtnt an~ eam or tarna ot money be~comc
payrble thereuader the MortgaRee s}ull hove the opteon ta teceive and apply the eame on ~r.rouet ot thc indebtedness hereby sccured,
or to permit the Mon6a~tor to receive and use it, or anr p~rt thveof, wit~ont thereby waivin6 or impairins anr eqnity, tien~ or ri~ht
vnder ~nd try virtoe o( thie mort~Ee. in event of ln~o or phyeiral dan~e~c to the mortKaEed propesty the Mortgaaor eh~ll ~pve imme-
di~te notice thereof by mail to the Mortga6e~ aod thc Mort6aaee may make proof of loea if tht s~me is not made promptly b7 tbe
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