HomeMy WebLinkAbout1554 PRUVIDED, AL.WAYS, that i[ the Mortga6or ahall pay untQ the Mortgagee the ind~btedneee evidehced br a
certain pramiesary note of rvhic6 t'~e followia;~ in warde and figures ie a truc capy to-wit:
.
Mo~9ay. No~i. -
j~j~.OD Miami, Florida DMM~' 1Q~1 _ 19 ~
~'OR VALU~: RECEIVED Y~~ ~istU ~id ~+d11Y promisetopay
to the arder oE_ ll~ /1~f - ti :i t?Fl~rli. - ~ ~
~he principal sum of~ TS+~'~D ~II lY~ iM ~00~ w- DOLLARS, sogeth~r with intertst
thereon from clate at the rate of ten percent. per annum until maturity, both principal and interest being payable in
lawful money of the United States ac ?0~ Roper Building, Miarni, ~lorida, or ac such ocher place as che holders hereoE may
designate in writing. Principal and intertst payable in installm~nts as follows:
'l~ir~r~tin (~3S•~D~ Do1~ss~r ~ aaatt ~i~ os tis
15th d~lr ot 1r~e~as~?. 19f6. ~ad vostiaai~ w? tLw igta
~y of waaiz a~A wvs~ ~oattl ~!'#~oae n?til ~d ia !1`21.
t
~1'his note ni:iy I~e ~~re~~ai~i in ~~~hule ur in E>art ufter <~ne pear truni tl?e clate heteuf uE~on ~~a~-tnent of a~~enalty
ec~uivatent tu t~vu ~xrre~~t c~t the E~rinci~:al sun~ E~re~r~i~l.
Each insta!]ment payment shall be credited Eirst on the interest due, and the rem,~inder on ~rincipal; and interest
shall thereupon cease upon the prinripal so credited.
The rttakers and endorsers of this note furthtr agree to waiv~ demand, nocice of nan-payment and protest, and
in the event suit shall be brought for the tollection hereof, or the same has to be collected upon demand oE an attorney,
to pay reasonable attorney's fees for making such collection.
Deferred payments hereunder shall bPar interest at the rate of ten percent. per annum from maturity until paid.
This noce is secured by a mortgage of even date herewith and is to b~ 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 prir,cipal
ancl interest remaining unpaid shall, at the option of the holders, become immediately due and payable.
(SEAL)
: ~ - : - . i _ (SEAI.)
and ahalt perform, comply with and abide by each and every tht stipulatsana, a~tetmenta, conditiona aud covenante of
eaid pramisaory note and o[ thia deed, Lhen thie deed t~nd the ex4ate thereby created ehail ceaee ~nd be null and void.
1. The Mortgagor hereby covenants and ag~ee.a:
(a) To pay ~11 and sin6ular t6e priueipal and iotertrt ~nd ~t1ks sams ~i m•ne~ pay.ble by virtue of ~rid promissory nott and this
deed, or either, promptly on the d~~s reapectively tbe eame ~enlt~ beeo~zs due.
( b) To permit, commit or ~u~er no wute and to maintain tbe i~nprovements at sll timea in ~ st~te o! 6ood repair asd cooditi~n; and
to do or permit to be dont to eaid premisa nothin6 tlut will alter or e~n6e tLe we aod ct~rrcter of ~eid propert~ ar ia an~ way
impair ur weaken the ~ecnrity ot tlrie mortsa6e. And in tase o( t6e re(o~el, ne6lett er inrbiliq oi tbe 4Lert6e6or to repair end maintaiu
aaid propcrty, the Mortp~ee rnay, at his option, make soch rep~in or cawe the same to be made, and ~r~eee mone7~ in that behalf•
(c) To pay sll and sin6ular the trxa, as~daratnts, levies, Ii~bilities, and obliptions ot ever~ n~tarc ~u wid deseribed pr~perty ach
and every w6en dut and pay~ble actordin6 to law, beiore tbe become delinquent, and to ~delivee to tbe Mort~Bee on or before 1Harch
15th of earh 7ur tax rceeipte evideucin6 e6e payrnent ot dt ~w~fnll~ impoaed tazcs (or tbe preeedin~ eakudar year• to i~demnii~ the
Nort6a6ee upon his demand for all tsxes, assewnenta aad t2ur6e that may bt ~aaeaeed upon tbu mortga~e oo tbe indebtedneea sccured
hereby, aud paid by the mort~aRee, without ~t~.ard to •ny law Le~rtoiore enarttd or 6ere~fter to be onaeted impwio6 pa~meot af tho
whole or uny part theteof upon the MortR~gee.
i d) To pay ~11 aad sinsul~r the costa, chnr~es and expmues, indudin~ Irx;en' fees and ~b~tnct cwta rcawn~bl~ incurred or paid ~t
snr time b7 the Mort~a6te becsuae of the f~ilute oo t6c part of the Mort~~or to perform, eauply witb ~nd abide by esch and every
ihe etipulstioa~, s~tetments, ~onditions and eovenants of eaid promissor~ note •nd tlxes detdq or tit6er, and tvery eueh pa~ncot shall
bear interest from date •t the rate of ten per centum per amtum.
(e) It ie turther covenanted and a~creed by said partic~ tbet in the event of a suit bein~ instituted to foreclose thi~ mortEa~e, tLe ~llort-
srgee ehall be eatitlcd to apply ~t an~ time pendiu6 ~neb hrecleaore atit to tbe t~ort 6avia6 jurirdictioo ebet~eof for the sppsinlmcot
of a receivcr ot all ~nd senginlar tLe mort~s~ed property, ~nd o[ all rcma. iaeomea. pro8b, isrua and re~enna the~eof, [rom r?bstaoever
source derived; snd thereupon it ie hcrebr exprdalr eovenwted and ssreed t6~t the Conrt ~ll tortLwith appoiae ~neh receiver with
the nsuel powers and duties oi receivera in like ca~d; snd raid ~gpointaeest ~Lril be made bq tl~e conrt a~ ~ mattcr oi qrict ri~t to
the MortK,aset, and wit~uut reference to the rdequacy or ioadequtt~ of ihr value ot t6e property 6tteby morr6s6ed, or to the solvency
or ineolvency of rhe Morega6ur6 or any other psrty defrndtnt to euch suit. The MortRa6or bereb' ~pecifically waives the ri6ht ta
objoct to tbe appointment of ~ reeei~~er ae aforesaid and bereby exprtssly eoneents thst ench appointment s6ali be made As ~n admitted
equity ~nd ae a matter o[ rbeolute riKht to the Mort6a~ee and thlt the same m~~ bs done witbout notice to the Mortae6or.
(f ) Ii forerloeure proceedin~s ehauld be inetituted aasfost t6epr uperty eavered by tLi~ marisa6e npon ~n~ ot6er lien or claim whether
alleacd to be euperior or junior to the lien of tLia mort6a~e, t6e Mortga6ee rnay at hie opteon immediately upon inatitution of sueh
euit or duri~F the pendency thersof declare thia rooK6a`e ¦nd tbe in~ebtedne~s ~ecured hercb~ due ~nd pa~able forthwith a~ mry at
itt option proceed to foredoee thi~ moriEaRe.
That the !4iort~a6or will {ceep all real aod penooud praperty now or hernfter encumbered by the lien of thie men6aEe inaured
as msy be required from time to tiine bp the Mort6a6ee ~~aint bes br fire, winclstomo and other h~aarda, eieualtite and contingencie,e
toe such periods and for not lest than sach amounq u ma7 be xqaired by the MoK6a6ee and to pa7 prompdy w6en dae all prtmiume
for eu~h ineurance. 7'he amounu of insurame required b~ tLE 1[ortaadee nhall bt tht minimum smounte for which said inEUrantt ebill
Le vyr~tten and it rhall be incumbent upon the Mort6asor to maiiWin ~ueh ~dditianrl insnr~net ae msy be neceawry to meet and comPly
lully with all cainsunnce requiremenu contaioed in aid polities w tbe eod tbat the s~id Mort~e6or ie not a cainenror thereunder.
Inaurance ehal~- be writteu by • eompany or comp~nia sppeoved or deaisoated by tbe Mort6agu ond all~ policia+ and renewala thereof
nhall he hdd by the Mort6a6ee. All deuiled desi~tioo~ b~ tLe Mon~a~or whicb •re acecpted by the Mnrt~Ree and all •yreelucnte
betwcen Mort~agnr and Mart6aaes nl~ti~6 to itrnra~see, eoa exietio6 or heredter made, s6si1 be in writin6 and ehall be a part of thie
mortga6e ¦~rtement ~a fully ~a thous!? ret (orth verb~tim berein ~nd ~hall 6avern both parties hereto and t6eir ~necdaors ~nd aesifne.
Vo lien upon ¦n~ of baid paliciea of ineuranee or apon m~ rduad or return premium which may be parablt on Ch~ uncellation or
tennination thereoi, ~hnll be aiven to ot6er than tbe Mort6ngee, e:cept by proper endorsement af6xed to euch potic~ and ~pproved b~
1+tort~aace. Earh poliey ot ineuraace eh~ll hue al6xed thereto a Standard Plew York Mort6a6ee Cl~uee withoat Contributioo, mrkinX
all loee or losata nndtr euch policy pay~ble to the Mort~~~ce as ib intercst m~y appar. In tbe event any eom or snms of ~noney becomc
pay~ble thereander the MorxgaKee ~hall have the option to receive and apply the eame on •~count of the indebtednue heret?y eecor~d,
or ro pcrmit the MonSasor to rerti~e •nd use it, or any p~rt lhueo(, witboat thereby waivin6 or impairin6 en7 eqnity, lief?~ or ri6ht
under ~nd by virtue of thi~ mort6sRe. In evrnt oC luw or physir'al darua6e to the mortRased pro~:ert7 tbe Mortga6or eha{I ~ive imm~-
di~tc notice thereof b~ msi! to the Mort6aEee and the Mort6s~ee m~y make proof oi loes if the eame ie not m~dt prompEly br tbe
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