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Home My WebLink About0793 . . ~ ~ . . PROVIDEI~, Al_NAYS, that if the \lurtgagot shall pay unto the \brtgagee thC iodebtedncss e~~idt~rrd by a ce~ta~n pranissory nute o[ which the follawing in words and fi~ures is a true copy tawit: ~ . ~ 2 ~50 • ~0 a~x; ~~'g~ I = hfiami, Florida November 8~h 19~, a~ FUR VALUE KFCEIVED I p~umia~ tu pay tu ~he orde~ of __~~JARi. S~~ T~tr:T. thr p~it?c~pal swn o[ T~n10 Thousand Sev~n HLndrPd i f F and NDl1(lQ*LLAftS, tug~thr.r with interwt tl~~rrun from date at tl~c rsle o[ len percent, per an~um until maturity. tath principa) and intercat t?ting payaLle in lswful rnuncy of tt~~~ L'nitcd ~tatcs at :3:,'44 Biscayne $lvd., htitmi, Florida, or at such other place as the'holders hereof may du?ignatc in writ~ng. Yrir~cipa! and interrst payable in insUJlmenta as Idlowe: a ~ Sixty (~60.00) Dollars per month, beginning on t~e 15th day of ~ January, 19?0, and continuing on 15th ds~y of each aid every month thereafter until paid in full. ~ ' ~ f TI?is nutc may 1~ prcpaid in whole or in put after one yeu from thc date h~reof upon payment o~ a pcnalty equivalent to two , ~ ~ pcrcent of thr principal swn prepaid. Each imtaltment payment sl~all be credited Crst on the +nterest due, aod the r~emainder on principal; and inteoe.! shal) there- ; u~wn cea+e u~n the principal so credited. ~ i The maken and enduners o[ this nute (urther agree to waive demand, notice of non-payment and protest, and in the event suit ~ ~hall be brought (or the collection hereof, o~ tbe same has to be eotlected upon demand of an attomey, to pay rea.wnable attorneY's fre~ [or making sucF~ collection. ~ Defer~cd paymruts I~creunder shall bear interest at the rate o( ten percent per annum from maturity until paid. ~ This note is 6ecured by a mortgage~o[ even date herewith a~d is to be conatrued and enforced according to the laws of the t ~ ~t~te of Florida; upon default in the payment o[ principal and~or intcrest w6cn due, the whde sum ot principal and interest r~maining unpaid shall, at ihe option of the twlders, b~come imme ' ly due and payable. ~ ; ~ R ; (SEAL) ~ i'rcpared by Spieler & Trndrich, Attomeya - 2240 Biacayne B~~d., Miami~ Florida (SEAL) ar~d shall perform, comply with and abide by each and ever} the stipulations, agreements, cand~t~ons 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. l. The Alottgagor hereby covenants and agrees: (a) To pay all and sungular the pr~ncipal and interes~ and other sums ot mortey payable by virtue o( said prom~csory note anJ th~s deed, ur eithec, promptly on the days re~pec~ively the came ce~•erally becomes due. lh1 7o permu, cortumt ot suf(er no waste aod to mamu~n thc ~mprovements at all times in a state of sood rcpair and condihon, and to do or perm~t co be done to sa~d prem~ses nothin6 that w~ll alter or chanae the use snd chuacter of said property or m sny May ~mpa~r or a~eaken the cecurity of th~s rtwrtga6e. And in csse of the refusal, ne6leet or inability of the Mortsaaor to repair aeed maintam said proper- ty, thc M«~aaRee may, at his opt~on, make sucA repairs or cause the same to be rnade, and advance moneys in that behal(. (c) To psy all and s~nsular the taxcs, assessments, le~ies, liab~lilies, and oAtisations of every natute on said destribed property tach and every when Jut and payable accordma to la+, before they become dtlinqueet, and to deliver to tAe Mortgaaee on or 6efore ~larch 15tA of each ycar tu receipts evidencin6 the payrnent o( all lawtully ~mposed taae3 tot the precedins calendar year, to ~ndemn~fy the ti~~6~6ee upon hic dcmand ta alt tfiees, asses~ments and char~es that may be assessed upon this mw~aaae on the indebtednes~ .ured hereby, and pa~d by the muttEa6ee, rithout rcgard to any la~r herctofae enacted or herea(ter to be enacted ~mposin~ payment o: the whole or any ~art thcreof upm the 4fortEagee, (d~ Tu pay all and s~eaular the costs, chnrEes and expenses, mclud~n6 lawyers' fees and abstract costs reasonably mcurred or pa~d at any nmc Ay thr N~xtRaEre because of the failure on th~ p~rt of the Mott~aaor to perfcxm, canply vith and abide by tach and even ~he st~pulatuu~s, a6reements, cond~tions and covenants o( said promissay note and ehis deed. or either, and every such'payment shall t+rar mteresi (rom da~e a~ the rate of tcn (10~~) per centum per annum, (rl It ic (ur~htr co~enanted and a~ced by said parUes that in the even[ of a suit bein6 instituted to foreclnse th~a r..ortaa~tt, the 1}~•rt. ~aaee sball be entilled to apply at any time pendin6 such foreclosure suit to the court havins jutisdictian thereot for the appo~ntmcni o( a rece~ver ot all and sin6ular the mort6aaed property, and o[ all rents, incomes. ptotits, issues and tevenues thereof, from a•hatsoe~cr scwrce derived; and thercupon is hereby expressly covenanted snd •~reed that the Court shall forthrith appoint suci~ receiver ~rth 4 the usual powerc and dut~e. of recei~ets in like cases; and said appointment shall be made by the coutt as a matter of ztrict nsht to the ~lortgagee, and w~thout refereece to the adequacy or inadeqaacy o( the value o( the property hereby matsa6ed, orto the solven.y or insolvency of the \fortgagors a any othe? party deferuiam to such suit. ?he Mortssaor hereby apecilically waives tAe n6ht to ub~ec[ to the appo~ntment of a rece~ver as aforesaid and hereby expressly conseats that such appomtment shall be made as an adm~tted equity and as a msner of absolute ri6ht to tAe ~1ort6a~ee snd that the same may be doae w~ithout notice to the Mortsa~or. t!) If toreclosurc proceedinas should be inst~tuted asainst the property covered by tAis ewr[pse upon any otAer lien or cla~m rAc~he~ alle6ed to be superiw w junia to the lien of this mart~a~e, the I~lort~a~ee reay at his opuon immediately upon ~natitut~on o( such suit a durins the pendency thereo( declare this mort6a~e and the indebtedness secured horeby due and payable f«thwieh and msy at ~t. optlon proceed to faectose th~s mort~a~e. (LI 7'h~t the Mort~aaor will teep all reat and persona) property nor a hereatter encambered by ~ht l~en ot this morta~je ~nsured ac may be required from ume to time by the Mort6a~ee apinst loss by fite, +mdstam and other hazards, caswlt~es and contmsencies (or cuch per~ads and Ior not less t6~n soch ,~mounta as msy be required by the Mort~asee and to D~Y D~~D~~Y when due all prem~ums for such msuunce. The amounts of iasur~nce required by the lHortsa6ee sha!! be the minimum amounts tor vrhuh sa~d ~nsut~nce shall be wntten and it shall be mcumbent upon the Mort~s~or to maintain such addiuonal insurance as may bt ~ecessary to meet and comply fully r~th all co-insuranee requirements conhined m said policies to the eod that tl~e said A1a~t6a~ot is not a co-~nsuror thereunder.Inssrancc shal~ be wr~ttea by a canpany a caapanies spprored or des~snated by the Mort~a~ee and :11 policies snd renewals thcreof shall be he1J by the Mo~t`a6ee. All detailed desisnations by the Mort~a~or w•hich are accepted by the Mort~a~ee and all asteeroents bet~reen Mo~t~aeor and Mortsa~ee relat~n~ to insur~nce, aow exist~o~ or hereafter made, shall be in writin~ and sh~11 be a part o( this mort~ase a~reemeet as fully as thouah set tath rerbat~m herein and shall ~overn both parties hereto and their successors and assi~ns. No lien upon any of aaid policies o( insurance or upan any refund w return premium vhich may be payable on the cancellation or termination thereo(, shall be ~~ven to other than the M/ore~~{ee, except by proper endorsemertt a(tixed to such pol~cy and sppoved by Morlaasee. Esch poluy ot insurance ahall have affiaed thereto a Standud New York Mottp{ee Clause rithout Contr~buuon~ mskin~ ¦11 loss or losses ~ader such ' policy payable to ~he Mortp~ee as its interest rpay appe~r. In the eveet any sum o~ sums o( money becoau pay~ble thereunder tfie ~1ort. ~a~ce shall havt the opt~on to receive and appl~ tbe same on accoun~ ot the indebtedness hereby secured, a to permit the ~Iort~aEor to rece~ve and uae it, or any par! thereof, without thereby vaivin~ or imp~irin~ any equity, lien, a ri~ht under and by vutue ot tA~~ ' mat~s~e. In event of loss or physical d~ma~e to the mort~a`ed poperty the Mort~a~a shall eive ~mmed~~te notice thereof ~y rca~l t~r _[he Nwljssee and the Mort6ajee may makt yxoof of loss the same ic not made prompUy by the MortEa6a. In evcnt o( (ore~ln~ure of 600K 181 PAGE ~ .~9~. - - ~