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Home My WebLink About2486 ~ ,~~ ~.. PROVIDEn. ALWAYS, that if the Mortgagor shall pay unto the Mortgagee the indebtedness evidenced by a cactain promissory note _ of which the following in words and [igtues is a true copy to-wit: =2.525.00 _ FOR VALUR RECEIVED We. io intl' to the order o[ LUCY ICORSUN, TRUSTEE the principal sum o[ 'I~.te Thousand Five Hut thenwn from date at the rate o[ ten percent, per annum u the United Stales at 2244 Biscayne Bhd., Miami, Fbrit Principal and interest payable in installments a [olbws: t ~~ M;gm;, Florida ~ugust 30 i9 69 1 v and severall~r promise a pay NOJl00 idred Twenty Five and DOLLARS, together with intet+at aW maturity, both principal sad iatetnst beiua payable in lawful money o[ V, a at such other place r the holden hereof may denigtwte in writia6. Fifty ($50.00) Dollars per month, beginning on the 15th day ofOctober, 1969, and continuing on the 15th day of each and every month thereafter until paid in full. This note may be prepaid in whole a is part after one year from the date hereof upon payment of a penalty equivalent to two percent o[ the principal sum prepaid. Each installment payment shall be credited tint on the interest due, and the remainder on principal; and interest shall there- upon cease upon the principal so credited. The makers and endonzers o[ this note further agree to waive demand, notice of non-payment and protest, sod in the event suit shall be brought for the collectwn hereof, a the same has to be collected upon demand o[ an attorney, to pay reasonable attonxy's lees [or making such collection. Deferred payments heaunder shall bear interest at the rate o[ ten percent per annum from maturity until paid. This note is scarred by a owrtpgc-ot even date herewith and m to be construed and enforced according to the laws of the State of Fbrida; npon default in the payment of principal andlor interest when doe, the whole sum a[ principal and intec+at remainicra nrtpaid shall, at the option of the holdt:rs, beoorae immedia ire and payable. //~~~~ GC~G[L (SEAL) G~~ • . S' c f~-~1--y (SEAL) ~t~ b'P ~~ ~ Teadridr, Attoxrteps - ZZ40 Bisayae Bltnd., MWmi. F . 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 creates! shall cease and be null and void. 1. The Mortgagor hereby covenants and agrees: (a) To pay all and singular the principal and interest and other sums of money parible by virtue of said promissory note and this deed, or either, promptly on the days respectively the same severally becomes due. (b) To pertgSt,,co.mit a suffer no caste and to maintain the improvements at all times in • state of good repair and condition, and to do ar pttrait tb t-e done to said premises corking Wet rill alter or change the we and character of said property or in any ray impair or reaken the secfaity of Wis mortgage. And in ease of We retwal, neglect a inability of the Mortgagor to repair and maintain said proper- ty, the Mortgagee may, at his option, make-such repairs or cave the same to be made, sad advance aoaeys in that behalf. (c) To pay all and singular We rases, assessments. levies, liabilities. and obligations of every nature oo said described property each and every Then due and payable «e«ding to law, before they become delinquent. and to deliver to We Mortgagee on or before March ISt6 of sack year tae receipts. evidencing We payment of all lartully imposed lases for.the preceding calendar year; to indemnify We Mortgagee upon his demand tot all rases, assessments and charges Wat wy be assessed upon this mortgage oe We indebtedness s~- cnred hereby, and paid by We mortgagee, riWout regard to ray lac heretofore enacted or hereafter to be enacted imposing payment of We Thole of any Aart Wereot upon We Mortgagee. (d) To pay all- and singular We costs. charges and a:pensea. including laryers' tees and absuaet costs reasonably incurred nr paid at any time by We Mortgagee because o[ the failure oa We part of We Mortgagor to perform. comply riW and abide by each and every the stipulations, agreements. conditions sad cotenants of said promissory note and Wis deed. or either, and every such'payment shall bear interest from date at We rate of ten (lo'rd per centum per sonars. (e) It is (trther covenanted and agreed by said parties Wat in Wt event of a suit being instituted to foreclose Wis mortgage. We Mott- ggee shall be entitled to apply at any time pending sorb foreclosure suit to We court Raving jurisdiction Wereot for We appointment of • receiver of all and sittgulsr We mortgaged property. std of al! rents. incomes. profits, issues and revenues Wereot. from rhatsoever source derived; and Waraupoe it is hereby eapreaaly covenanted and agreed that We Coup shall forthwiW appoint such receiver riW We wwl porers and duties of receivers in like cases; and said appointment shall be made by We court as a matter of strict right to We Mortgages. and rithwt retereace to We adequacy a inadequacy of We value of We properly hereby mortsagad, or to the solvency or insolvency of the Mortgagors or any older party defendant to such suit. The Mortpgor hereby apecitieally mires We right to object to the appointment of • receiver as aforesaid and hereby espressly eoeseats Wat such appointment shall be sade as an admitted equity sad as a matter of absolste right to the Mortgagee and Wat the same may be done rithout notice to We Mortgagor. (f) If foreclosure proceedings should be iastiwted against We property covered by Wis mortgage upon any other lien a claim rhether alleged to be snpeeiot or junior to We lien of Wis mortgage. the Mortgagee may at his option immadratcly upon institution of such suit ar during the pendeaKy thereof declare this mortgage and the indebtedness sectred hereby due and payable torWriW and may at its option proceed to torectwe Wis mortgage. (g) That the 6lartgagor rill keep all real and persaral property nor or hereafter encumbered by the lien of Utis smtgage insured as may be required tram time to time by the Mortgagee spinet Loss by fire, rindstarm and other hasards. caswlties and coniingencies for such periods and for riot less than such amounts as may be required by the Mortgagee and to pay promptly Then due all premian+s for such iestratres. The amamta Ot inatrance required by the Mortgagee shalt be We minimum amotrnts for rhich said insurance shall be mitten and it shall be incumbent upoe the Mortgagor to wiatain such additional insurance as may be necessary to steer and comply lolly riW alt eo-iristrsnce rcquireatents contained in said policies to the sod that We said Mortgagor is not a co-insurot thereunder.lnsurance shall be rrittsn by • eompsay ar companiu approved or designated by the Mortgagee ard.sll policies and rsaerals thereof shat! be held by the Mortgagee. All detailed designations by the Mortgagor rhich ors accepted by We Mortgages sad all agr£sneats betreen Mortgagor sod Mortgagee relating to insurance, aosi existing or hereafter made, shall be in rriting and shall be a parr of Wis mortgage agreement as fatly as Wougb set forth verbatim herein and shall gores bold parties hereto and their srccessors and assigns. No lien upon any of •aid policies of isstrasee or upon auY refund a cetera prsmitrm rhich may be payable on We caaeellstioa or termination Wereot, shall bt gives to other Ww the Mortpgte. eseept by proper endorsement affixed to such policy and approved by Martpgee. Each policy of isaursses shall hate atfised thereto s Standard Ner York Mortgagee C4use riWost Coatributioa, making i+ll loss or losses under sucA policy payable to the Mottppe as its interest wy appsr. !• the avast airy sum ar seats of money bseoate payable Wercunder We Mort- gagee shall have the optics to receive and apply the same oa accormt of the indebtedness hereby secured. of to permit the Mortgagor to receive and us2 it, a any par}, thereof. without Wereby raiviag a impairing any equity, lien, a right under and by vrrtue of this aortpgs. la event of lossgot pbisitsl damage to the mortgaged property dte h1oR~agor sAlil girt immediate notice thereof by mail to the Mortpgee and the Mortgagee may make proof of loss t not made promptly by the Mortg ~ c r t - ' `or _ _ , ~ c ~ e ~! ~y -. `~ = BOOK ~ l~ PAGEz484 ' j rt ~- ..- -_ ~ _s _