HomeMy WebLinkAbout1076 PROVIDEn. ALWAYS, that if the Mortgagor shall pey unto the Mort`a~ee the indebtedness evidenced by a
certai~ promissory note. of which the followi~6 in wocds and [itures is a uue copy tawit:
s < ~o c~o ~~l~ Jna~ s
- ~ ~ • ~ami~ Flo~da iy~_
FOR VA[.UE R6CElVED Z Yrumi~r tu pay +
to the orde~ o( HSN.TAMIY QrQLUMAI~ eIId Yl/L+Yl'TS GOI~1k1J1~~ h18 1l1t~
the p~incipal uum ~pd '[`i~euec_nd a~ven I~unc rad and ne/106•••-M ppI,LARS, to~ethet with i~tcnst ?
thereon ~rom date oI the yte of t~n peroent, per aanuas untii maturitp, both principal and interest bein` p~yabk in lawiul mu~ey of
the United ~ta~~h st 224~4 Bi~cayne Blvd., Miami, Florida, or at wch other place as tl~e bdders hereof mqr desi~ate io writing.
Principal au~d intenat payabk in installments ae [oUoMn:
~~<<3 ;tuncired ~'ifty (:1~.0~) ~oll-~rs pcr ooar.h f~~r fift~ nine (y3)
c~n ,ac~tive caonti:;:~, on t:.e 15th d~~y of each an~! avcry aanth be~~;l:uiin~;
_~:i t:;e l;,ti~ d.•y ot Au~uat 1~~6y, ~?n~8 contlnuing unt11 L~e l~t~~ d~~;~ oF
~~uiy, 1;374, et ~hia~i time tt~e b~l+~nae s:.~?11 beao~e due ~nd pa3+a~1~•:
This note may be prepaid in whde or in part after one yeu Irom the date hereof upon payment ot a pendty equivdent to two
percent of the principa) sum prepaid.
Each insta!lment payment ~hatl be credited Grst on the interest due, and the remainder on principal; and interest shall therc
upon ceaee upo~ the principal w credited.
The makers and endoners oi this note further agcee to waive demand, notice oE non-ptyment snd protesl, aed in the event auit
>hali br brought for the cdlcctioe hacof, or the aame has to be collected upon demand of an attorney. to pay reasonable attomey'~
tees for m~kina wch edlection.
Defe~ed payments hereundet dhall bear interest at the rate of ten percent per annwn from matueitp untii ~aid.
This note is ~erured by a mort~e-of ~rzn d~te hr.reaith and ia to be con~dued and er~foroed accordu~ to the laws of the
State o~ E'Iorids; upon defult in the yment ot princqial andlor intetat when due, the whde eum of pcmcipd and inteKSt
remaining u~paid ahall, at the option o~e~~ ~~a~~. ~o~ ~~~~.e~y ~,~a p,r.d~.
Elizabeth Adderly ~~E~i ~
~se~i.~
Prcp~red Sy Spieler ~ Ta~drich, Atto~ney~ - 2240 Bi~upee BI•d. Mi~mi, Flotida ~
and shall per[orm, comply with and abide by ~ach and every the stiputations, agreements, conditions and cove-
nants of said promissory note and of this deed. then lhis deed and the estate thereby created shall cease ar~d be
null and void.
f
1. The Mortgagor hereby covenants and agrees: ;
(a) To pay all and singular the pcincipal and interest and other sums ot money payable by virtuc of said promissory note and this
deed, or either, pramptly on the days respectively tho same severally becomes due.
(b) To permit, commit or suffer ao aaste and to maintain the improvements at ~ll times in a state of ~ood repair and condition. and to
do o~ pormit to be done to said premises nothin6 that vilt alter or chanse the use and cAaracter ot said property or in any way impair or
rreaken the security of this mort`a~e. And ia casc o[ the retusal, neslect or inability ot the Morteasor to repair and maintain said ptopcr-
ty, the Mortp6ee may, at his option, make suc6 repairs or cause the same to be made. and advance moneys in that bth~lt.
(c) To pay all and sin~ular the taaes, assessments, levies, liabilities, and obliptions of erery patute on said describcd property e~ch
and evcry r6en due and payable accordins to law, befae they becomt delinquent, and to deliver to tAe MottEaLee on or before March
lSth ot tac6 year taa rectipts evidencins the pa~tinent of all (avfully ~mposed taies for.the ptecedina calendu year; to indemuity thc
Mat~atee upon his demsnd for all taxes, assessmonts and char~ea th~t may be aasessed upon this mortaa6e on the indebtedneas s•-
cured hereby, and paid by tDe mortaa6ee, wiNou~ regard to sny law Aeretofore eeacted ot hereafter to be eoacted imposina ~ayment oS ~
the ~hole or any .~art thereof upon the Mortsasee, f
(d~ To pay all and sinsulu the costs, charses and expen~es. includini laryers' ftes and sbstr~et costs reaaonably incutted rx paid at ~
any time by the Mo~t6a6ee because of the tailure oe~ the part of the Mor~aa~or to petfotm, comply w~th and abide by each and every thc '
stipulations, a6reements, conditions and corenants ot said pranissory note and this deed. or eithet, and every such~payment shall bear
interest [rom datt at the nte ot tea UO'i) per centum per aaAUm.
(e) 1t ia further covenaeted and asreed by said parties thst in the event of a suit beina instituted to toroclose this mortpae, the Mat-
6~6te shall be entitled to apply at any time pendins such foreclosure suit to the court havin~ jutisdiction thereot fa the appointmen~
o[ a receiver of all and sinsular the mort6ased property, and of sll rents, incames. profits~ iasues a~d revenaes thereot, hom vhatsoewer
source derired; and thereuyon it is Aereby e:pressly coveaanted aod aareed thst the Court shall forthvith ~ppoint such receiver W~th
the usual porers and duties ot receivers in lite cases: and sa~d •ppointmeot shall be made by the court as a matter ot striet ri~ht to ~
the 111ort~a~ee, anA ~•ithout re[erence to the adoquacy or inadequacy of the vatue of the property hereby mortaaatd, or to the solvency ~ ~
or insolvency ot the Mortsa~ors or any other party detendant to such suit. The Mataa~or hereby apecifically waives the ri~h[ to object 4
to the appointment of a receiver as aforesaid snd hereby tapressly consents tAat such ~ppoietment shall be made as an admitted equ~ty #
and as a outter of absolute ritht to the Mottp~te and that the same may be done rithout notice to the Mort~asor.
(f) foreclosure proceedia~ shou~d be instiwted asainst the property covered by this mortssae upon any otAer lien or claim whether
alle~ed to be superio~ ot junior to the lien of this roort~a~e, the Mortsa~ee may at his optioo immediately upon ~nstitution ot sucA su~t
a durins the pendency thereot declare this mort~a~e and the indebtedness secured hereby due and payable fathrith and may at ~ts
option prxeed to laeclose this martl+i~-
'Ibat the lllortsasa Fill ktep all resl ~nd persona) property no~r or hereafter encurobered by cbe I~en ot t61s matp~e insured as may
be required froan time to time by the Mort~asee asainst loss by (ire, w•~ndstam and other Aazards, casualt~es and cont~naencies for such
penods and ior not less than such aawunts as may be requ~red by thc Mortp`ee •nd to pay promptly rhen due all prem~ums fd such
insu~snce. 7Le ~mamts ot inaurance required by the ~ortp~ee sdall be tAe minimum aa?ounts tor vhicA sa~d ~nsurance ahall be wntten
and it shall be incuaibent upote the Ulort~a~or to maintain such add~UOnr1 inyur~nce as may bt necessaty to mcet and comply fully v~th
•11 co-iesursnce requitements contained in said poticies to tAe ead that the s~id More~a`or ~s not a cwinsuror ~hereunder.lnsurance
shall be rr~tten by s coopany ot companies approred a des~~nated by d~e ?loct~atee and sll polic~es and renerals thereo( shall be hetd
br the Matp~ee. All deqiled desi~naticrs by We Mortsa~or wA~ch are accepted by the ?lort~~see and all ssteements between Mortt~da
and Mort~asee relaNns to insar~nce, no~r exiit~~~ or herea(ter made, shsQ be in rritins sad sAa)1 ~e ~ p~tt of tA~s mort;a`e a~reement
ss tully as thou~h eet fath verbahm Aere~n and shatl ~overn both parties hereto and their successors and assi~ns. No l~en upon any of
a~id policies ot insurance or upat any retund ar return prem~um .rhich msy be payable af the caqcellat~on or term~nat~oe ti~ereof, sAall
be ~~ren to other than tAe Alort~aiee, except by proper endorsement •tfixed to sucA pol~cy and approved by Mort~a~ee. EacA pollcy of
inautsnee ahall hare atfiaed theteto ~ Standud New York lNortp~te Clause r~tl+out Contr~buhon, makin~ all loss nr losses under suth
policy payable to the Mortp~te as ~ta interest may ~ppear. Ia the event any swo or suou o( money becane payabtc tAereunder the \lort-
iasee ahall hare tAe opt~on to rece~ve and apply the same on accowt o( the ~ndebtedeeas hereby secured, « to perm~t the ~IortgaRor ;
to receive and use ~t, ar any part thereof, r~tAout thereby ~vaivm~ a ~mpairin~ aay eyu~ty, Gen, or n{ht under snd Ay v~rtue of thn
mat~a~e, In eveet of toss or ;rhys~cat dama~e to the mort~a~ed property the Nort~a~or shall Eive ~mmedeate eouce thereof by T~:) t~,
the Nortlasee and thc 11ort~a~et maY make pru~,f lovs the same ~s not made prompUy by the ~lort~ator. In e.cn~ of fore~l~~urc of
' ' ~o~K 178 ~~c; ~,0?5 ' ~
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