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HomeMy WebLinkAbout0944 mortgage ~'^ tau u ~- THIS MORTGAGE, executed this ~ day of ~' ~ . 1~9 at Miami Beach, Florida, byCalvin Kovens and Phyllis Kovens, his wife; 1s1S03 partie s of the first part, hereinafter called the Mortgagor, which term as used herein in every instance shall include the Mortgagors heirs, executors. administrators, successors, legal representatives and assigns, including all subsequent grantees, either voluntary Dy act of the parties or imroluntsry by operation of law, and shall denote the singular and or plural, and the masculine andfot feminine and natural and Or artificial persons, whenever and wherever the context so requires a admits, to The Miami Beach FYrst National Bank, a national banking corporation organized and existing under the laws of ~~Tn~t~Rd~$t~~ S~reinatter called the Mortgagee, whKh term ~S useo nerem in every instance shall include the Mortgagee's successors, legal representatives and assigns, including all wbsequent assignees, either voluntary by act of the parties or imrotuntary by operation of law. WITNESSETH: THAT fa divers good and valurlble considerations, and also to secure the payment of the aggregate win of money named in the promis- spry note of even date herewith, hereinafter mentioned, together with interest thereon, and all other wins of money secured hereby ss hereinafter provided. the Mortgagor does grant, bargain, sell. alien, remise, release, convey and confirm unto the IiAortgagee, in fee simple, the land of whkh the Mortgagor is now seized and in actual possession, in the County of ~• IruCle .State of Fbrida, described as follows: SEE RIDER ATTACHED HERETO AND MADE A PART HEREOF. *************************** THIS IS A THIRD MORTGAGE Together with all and singular the tenements, hereditaments, aasernents and appurtenances thereunto belonging, or in any wise appertain- ing. and the rents, issues, and profits thereof, and also all the estate, right. title, interest and all claims and demands whatsoever, ss wall in law ss in equity, of said Mortgagor in and to the same, and every part and parcel thereof, and also specifically but rat by way of limitation all gas and electric fixtures, radiators, heaters, water pumps, air conditioning equipment. machinery, boilers, ranges„ elevators and motors. bath tuba. sinks, water closets, water basins, pipes. faucets, and other plumbing and heating fixtures, mantels, refrigerating plants and ice boxes, winrlOw screens, screen doors, venetian blinds, cornices, storm shutters and awnings, which are now or may hereafter pertain to or be used with, in or on said premises, even though they be detached or detachable. are and shall be deemed to be fixtures and accessories to the freehold and a part of the realty; and also such personal property as may be specificaly described above or listed hereafter on attached exhibits. TO HAVE ANO TO HOLD the same. together with the tenements, hereditaments and appurtenances thereunto belonging, and the rents. issues and profits thereof, unto the said Mortgagee. The said Mortgagor hereby covenants with the said Mortgagee that the said Mortgagor is indefeasibly sewed with the absolute and fee simple title to said property, and has full power and lawful authority to sell, convey. transfer and mortgage the same; that it shall be lawful at any time hereafter for the Mortgagee to peaceably and quietly enter uponr have, hole! and enjoy said property, and every part thereof: that said property is free and discharged from all liens, encumbrances and claims of any kind, including taxes and assessments, except those that may be set out above or hereinafter; that the Mortgagor will make at Mortgagors expense and at no expense to Mortgagee. such other and further aswr- ances to perfect the fee simple title to said land, fixtures and personal property in the Mortgage ss may hereafter be required; and that the Morn gager hereby fuly warrants unto the Mortgagee the title to said property and will defend the same against the lawful claims and demands of all persons whomsoever. NOW, THEREFORE, the conditions of this mortgage are such that if the Mortgagor shall well and truly pay unto the Mortgagee the to- debtedness croidenced by that certain promissory note of even date herewith, made by the Mortgagor and payable to the Mortgagee in the prin- cipal win of Three Hundred Thousand and NO/100---------------- ti 300, 000.00. ).tnefirrsl payment of which is due on ,together with any note a notes hereafter executed by the Mortgagor herein bf- and in accordance with paragraph fifteen of this mortgage as hereinafter set forth and secured by the lien Of this mortgage. together with interest as therein stated, and shall perform, comply with and abide by each and every the StipulaYans, .agreements, COrrditans and cove- nants contained and set forth in this mortgage and in the promissory note secured hereby. then this mortgage and the estate hereby created shall cease and be null and void. AND. the Mortgagor does hereby covenant and agree: 1. To perform, comply with and abide by each and every the stipulations, agreements, conditions and covenants contained and set forth in said promissory note o- notes, this mortgage, and, if applicable, the loan agreement between the Mortgagee and Mortgagor. 2. To pay the indebtedness secured by this instrument and accord"ing to the true tenor and effect of the promissory note hereinabove mentioned or of any renewal thereof, promptly On the day a days the same severally become due. 3. To pay, before becoming delinquent, all obligations, encumbrances, taxes, assessments, paving, sidewalk, sanitary and other assessments, levies or liens, now or hereafter levied or imposed upon or against the mortgaged property, and to exhibit to the Mortgagee before such taxes, , assessments, liens and encumbrances become delinquent the official receipts for payment thereof, and if the same Or any part thereof be not paid before becoming delinquent the Mortgagee may at any time pay the same with accrued interest and charges, if any, without waiving or affecting Mortgagee's option to foreclose this mortgage, or any right hereunder, and every payment so made shall bear interest from the date thereof at the rate of eight per cent (8X) per annum, and all such payments with interest shall be secured by the lien hereof. 4. That in the event of a wit being instituted to foreCk>se this mortgage, the Mortgagee shall t!e entitled to apply at any time during such toreclowre suit to the court having jurisdiction thereof for the appointment of a receiver of all and singular the mortgaged property, and of all rents, income, profits, issues and revenues thereof, from whatsoever source derived; and thereupon it is hereby expressly covenanted and agreed that the court shall forthwith appoint such receiver with the usual powers and duties of receivers in like roses; and said appointment shall be made by the court as a matter of strict right to the Mortgagee, and without reference to the adequacy or inadequacy of the value of the property hereby mortgaged, or to the solvency or insolvency of the Mortgagor or any other party defendant to such suit. The Mortgagor hereby specifically waives the right to object to the appointment of a receiver as aforesaid and hereby expressly consents that such appointment shall be made as an admitted equity and as a matter of absolute right to the Mortgagee and that the same may be done without ratite to the Mortgagor. 5. That if any proceedings should be instituted against the property covered by this nartgage upon any other lien or claim whether wperior or junior to the lien of this mortgage, the Mortgagee may at its option immediately upon institution of such suit or during the pendency thereof declare this mortgage and the indebtedness secured hereby due and payable forthwith and may at its option proceed to foreclose this mortgage. 6. To pay all and singular the costs, fees, charges and expenses of every kind, including the cost of an abstract of title to said lands found to be convenient or expedient in connection with any wit for the foretlowre of this mortgage, and also including, whether the Mortgagee is Ob~i- gated to pay same or not, reasonable attorney's fees incurred or expended at any time by the Mortgagee because of the failure of the Mortgagor ° to perform, comply with and abide by aU or any of the covenants, conditions and stipulations of said promissory rate. ar this mortgage, in the - o foretlowre of this mortgage and in collecting the amount secured hereby with or without legal proceedings, and to reimburse the Mortgagee for ~ every payment made or incurred for any such purpose with interest from date of every such payment at the rote of eight per cent (8X) per ~ annum; such payments and obligations, wiM interest thereon as aforesaid, shall be secured by the lien hereof. ~~ Instrument roes preperad by FRED R. STANTON O R 1`l9 ~ ~~ C=~PEIAND, THERREL, BAISOEN, b PETERSON 6O0K Vu 1000 UnCOIn Road, h:iami Beach, Fi3.