HomeMy WebLinkAbout1406PROVIDEn. ALWAYS. that it the Mortsator :hall pay unto the Mortsa~ee the indebtedness evidenced by a
certain promissory note o[ which the foltowin~ in words and figure: is a true copy to-wit: '
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3 3225.00 Miami, Floridt-_ ~ 9 l9 9
FUR VALUE RECEIVED 't'7e, ,jointly and severally promise to pay
to the order of IaLNA SEZLNICB
the principal sum of Three OuSan o un re en y- ve all DOLLARS, together with interest
thereon fmm date at the rate o[ ten percent, per annum until maturity, both principal and interest being payabk in lawful money of
the United States at 2244 Biscayne Blvd., Afiarai, Florida, or at such other place as the holders herewf may designate in writing.
Principal and interest payable in installments as follows:
Sixty (60.00) Dollars per month, for sixty (60) consecutive months,
on the 15th day of each and every month, beginning on the lath day
of October, 1969, and continuing until the 15th day of October, 1974,
at which time the balance shall become due and payable.
This note may be prepaid in whole a in part after one yea from the date hereeo[ upon payment o[ a penalty equivalent to two
percent of the principal sum prepaid.
Each installment payment shall be credited first on the interest due, and the remainder on principal; and interest shall there-
upon cease upon the principal so credited.
The makers and endorsers of this note further agree to waive demand, notice of nonpayment and protest, and in the event suit
~ltall be brought for the rnllection hereof
or the same has to be collected upon demand o[ an attorney
to pay reasonable attorne
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.
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y
free for making such collection.
Deferred payments hereunder shall bear interest at the rate of ten percent per annum from maturity until paid.
This note is secured by a mortgage of even date herewith and is to be construed and enforced according to the laws of the
Mate of Florida; upon default in the payment of principal andlor interest when due, the while sum of principal and intettist
remaining unpaid shall, at the option of the holders, becomm immediately due and payable.
Billy E. Spangler (SEAL)
3etty Jane Spangler (SEAL)
Prepared by Spieler & Tendrich, Attorneys - '1240 Biscayne Blvd., Miami, Florida
-and shall perform, comply with and abide by each and every the stipulations, agreements, conditions and cove-
nants of said promissory note and of this deed, then this deed and the estate thereby created shall cease and be
null and void.
1. The Mort~asor hereby covenants and siret:s:
(a~ To pay all and singular the principal and interest sad older sums of money payable by virtue of said promissory note and this
deed, or either, prosptly on the days respectively the sane severally becomes due.
(b) To psrsit,.cassit ac suffer no Taste and to saingin the isp~ovementa at all rises in • state of Goad repair and condition, and to
do « persit to be Bone to said premises aothieg that rill alter or change the we and chuacter or said property or in any ray impair «
reakea the security of Wis sportpge: And is case o[ the retwal, aegleet « inability of the Mortgagor to repair sad asintaiw said proper-
ty, the M«tgagss any. at his optics, make such repairs ~r cause the same to be made, and advance moseys in that behalf.
(c) To p.y all sad siagttlar We rases, ssaessscnts. levies, liabilities. and obligations of every nature oa said described property each
sad every Then >iw and payable sec«dingi to I~w, her«e they becoste dclingneat. and to delirei fo the Mortaaaee oo « before March
ISth of each ytu tae receipts evidencing the payment of: all larfully isposed toes fot.the preceding ealeadu Year; to indemnity the
M«tgagee upon his demand for all to:es, asseasseats and charges that say be assessed upon this mongaie on the indebtedness s~•
erred hereby, and paid by the s«taaaes, rithaut regard to any lar heretofore enacted « hereafter to be enacted impwina payment of
the Thole a any mart thereof upon the M«tgagee.
(d) To pay all ad siagulu the costs. charges and aspensss, including laryus' tees and abstract costa reasonably inenrred or paid st
any tine by the M«tgagee because of the failure on the part of the M«tgaaor to perfors, cosply riW and abide by each and every the
stipulations, agreetaenta, conditions and covewnts of said prosissoty note soil this dead. or either, and every sucb'paysent shall bear
inteest Eros date a We rate of ten (10'i) per ceattts pee aanttm.
(e) It is ttrther covenanted sad agreed by said parties that is We Brent of • suit being ieatiwtsd to torecloae this mortgage. the M«t-
pase shall bte eatit{sd to apply at say rise psadlsg fuc- foreclwure aY1t to We Court having jtrisdlcl!«I tbtreof fat We appolnlmtnt
of a receiver of all and singulu We s«tpged property, sad of all rents. incases, profits. issues and rereauea thereof. fros rhatsoever
source derived; and Wusapoa it is hereby a:ptesaly eoreaaated and agreed that We Cattrt shall farWriW appoint such receiver rich
the wwl pearers and duties of receivers in like cases; sail said sppoietatsnt shall be lade by the court as • matter of strict right to
the Mortgagee, sad rith«tt reference to the adegwcy or inadequacy of the value of the property hereby sortgaged. or to the solvency
or iasolreney of tits Mottpgors w say other putt' defendant to such suit. The Mortgagor hereby apeeifically naives We right to object
to tbs appointsgt of a rcuirsr u aforesaid and hereby eaprsaaly consents that such appoiotsest shall be lade as an adsitted equity
tad as a latter of abaolrts right to the Mortgagee and that tits sass say be done rithatt notice to We Mortgagor.
(t) It tareeloatre proesedinga should be iaatiatsd against tbs progeny covered by this sortgage upon asy older lien « claim rbether
alleged to bs superior ar jtsiar to tM lira of this sortgags, the M«tgagee say at his option issediately agar institutiae of such suit
ar dsiy We pendettt:y thereof deelus this sortgags sad thy itlebtedaess sectrsd busby due and payable f«thrith sad say at its
optisa proceed to forseloas Win sortgage.
(a) That We M«yyar rill keel all real and psrs«tal property so. a bueafter enctrsbsred by tbs lien of this s«egate insured as may
Oe 'rsquusd from ties io ties by the Mortgages against loss by firs, rindstors sad older hoards, caswlties affil contwgencies for such
pariads sail tar set Isis rhos ouch ssottats as say de rsgnired by the Mortgagee sad to pay prosptly Then due all premiums f« such
irtatratta. 7'be sensors of inattrasee rsgauN by tie Mortgagee shall bs the siaistts snorers tar rhich acid iaa«artce shall be rrittsn
and it shall M inettsbsat a0a the Mortgagor b saintaitt stth additional iaairancs'as say M necessary to seat and cosply fully riW
all eo-irisuranes rs~airessus rontaissd in said policies to the cad that the said Matgagar is not a co.iasura Wereunder.lnsuraace
shall bs rrittsa b1 a esapa~ or cospanies approved of dasignstsd by tbs Mortgages and all peliciss and ransrala thsreo( shall be held
by We Mortgagee, All dsuilsd dsaigaatians by tbs Mortgagor rhieh ors accepted by We Mortgagee sad all agrsssgta bstreen Mottgaga
and Mortgagq rslatina to insaranee. not eaiating or bsrsafter cads. shall be in rritiag and shall bs a part d this sartgage agreesent
v tally u Wottgh set t«W rsrbatis herein a.d shall gorsre bold genies hereto and Heir suecssaors sad assigns. No lien upou any of
acid pelieisa d wsrants or ups. aq refund or rstttrn prssitts rhich say bs payable ae We cancellation or tcrsiaation thereof, shall
bs girl. to other Wet the Matgagss, taespt by proper sdorssasnt atfised to such policy soil approved by M«taagee. Each policy of
instrancs shall bare affissd thereto • lita.dard Nsr Yet Mortgages Clause riWout Contribution, staking NI loss a losses under such
plicy MyabN to the Mortgages as ill iatsreal say appear. H Ws event arty sus or suss of enact' bscose payable Wsrettader the 7Nort-
gages anal) bare the optisn to rceeire and apply tbt sass on accotet of the iadsbtedness Mreby ssctued, « b ptrsit the !{ortgapor
to receive aril aN it. a any pan thusof, riWont thereby rairisg a intpairiag say equity, lien. a right under and by virtue of thts
sayaga. 1• swat of less of physical dosage to We soryatsd property We Mortgagor shall give iwu~adiale aaice thereof by mail to
the Mortgages and the 'Mongsgrrr inay sake proof of loss it the ease is not made proatptly by tht tiartgagot. le event of f«er:laswc or
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