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HomeMy WebLinkAbout2598 j PRO~'ll)H:(l, AI.K'AYS, that if the ~lurtgago~ shall pay unto thr \k~rtg:~gea Ihr in~~btednr.s ~vid~ncr~ h~ certain prvmissury nvte af wh~ch the tullawi~g ~n words and figurrs ~s a trut copy tu-~A~t: ' 1 4~j0.00 Mia~orid DeCembe~e 13th _ ~y 69 =_i , a , FOI~ 1 C C1i C ~rSy~p~i,.~~, Nay to the orde~ o[ ~ its~+ ~ ch~ priec~~?~i .um ot0~?e Thousan our Hundred Fift~, and No/100 DOLI.ARS, cog~ch~r w~ih ~nc«~.e ~ theteon fnsm date ot the :ale oi ten perceot, pe~ annum until maturity, both principd ~~d interest being payable in lawlul muney oI the United ~tat~~• at 2244 Bi~yne Bivd., Miami. Fbrida. or ~t wch othu place ~s the hdden hereo( may duignate in writing. Principal and inten~t pay~We in installmsnb a~ (oilo~t: Thirty-Five (835.00) Dollars per month, beginning on the 15th day of February, 19?0, and continuing on the 15th day of•each and every month thereafter until pafd in full. This note m~y be prepaid in whole or in part afte~ one yeu Erom the date hereof upon payment o[ a penalty equivalent to two percent of the principal sum prepaid. Each i~atallment payment shall be credited fint on the i~tecest due. and the remainder on principd; and intereyt shall there upon cease upon thr principal so ctedited. The makers and endorsets of thia note further aatee to waive demand. notice ~i non-payment and proteat, and in the event wit ahall br brought for the collection hereof, or the wme har~ ta be collected upon demand of an attorney. to pay reasonable attorney'a tea tor makin6 wch cdlection. Deferced paYments hereunda ehall beu interest at the rate of ten percent per annum from maturitp until ~aid. This notc a~ecured by a mortg~ae of even date hereaith and is to be construcd and enfoe~oed accordu~g to the laws of the Sbte of Florida; upon default in thepa yment oI prineipd andlor interat when due, the whde eum of pnncipd and interest remaining unpaid ~hdl, at the option of the holdas, become immediately sYpayaWe . ~ ~ ~ (5E:~1.) . . (SEAI.t hepared by Spiekr 8 Tendrieh, Attarnep~ - 22~0 Bi~earne 8l~d.. 11Wn?i, ' aod shall perform. cumply with and abide by each and every the stipulations, agreements, conditions and cove- ~ nants u( said promissory note and of this deed, then this deed and the estate thereby created shall cease and be null and void. 1. The ~brtgagot hereb}~ co~•enants and agrees: (a1 To p+y all and v~ngular tht princ~p~! and ~nterest and other sums o( mon~>• payablt hy v~rtuc of sa~d pror.:~+sory note and th~s deed, ot e~ther, promptly on the days rccpechvciy the same sevenlly h~comes due. !bl To permit, commrt or suffcr nn Mastc and to ma~nta~n thc ~mproa•ements a: all hmcs in a state of good repau anS cunJ~tiun, and to do nr perm~t to he done to sa~d prrm~ses noth~nE ~hat r~ll alter or .han~e !he use and character of .a~J propertl or ~n an~ way ~mpau or veaken the se: urity of th~a mortga6e. And m case of the rc(usal, ne~lect nr ~nabilrty of the Alortgagor to tepav and mainta~n said proptr- ( ty, the A1cut6aEce may, at h~s opuon, make such repauc or cause the same to De r.+ade, and ad~ance money~ m:hat oehal(. (c1 To pay a11 and ~~ngulat the taxes, assessments, le~~e~, I~abilities, and obl~`~tions o[ every nat~re on sa~d descnbed property each and every ~hen du~ anb payable accordma ~o laM~, befate they become delinquent, and to deliver to the Mortgagre on or br(ore March ; 15th ot each year ux receipts ev~dencin6 the paymen~ of all lawtully ~mposed taxes for the preced~ns calendar ycat; to mdemnify the Alortsa~ee upon his demand tor ~II taaes, a.sac~ments and ch.rses that msy be assessed upon this mortEage on the ~ndeb~cdne~s s~- cured Aercby, and pa~d by the mcxtEaste, +ithcwt regard to any taw heretofore tnacted a hereaRer to be enacted ~mposm6 na>~ment o: the w hole or .ny ~ar[ thereo~ upon the A1or~e~sce. Id) 7u pay all and smsuiar ~he costs, char6es and e~pencts, mcludms lawyers' tees and abstract costs reasonably mcurred nr pa~d at any ume by ~hr \tur~gagee be.au~r of the fa~lure on ih~ part of the Mortgagor to prtform, comply with and ab~de hy each and rvery tht st~pulas~ons, aRteements, cond~t~uns and covenants of said ptom~ssory nnte and th~s deed, or either, and e~er~ such'paymcnt ~hall bcar interest lrorn Jatr at the rate o( tcn (10 per cenwm per annum. (el It ic further co~~enanted •nd asrted by sa~d part~es that in the event of a suit bein6 msututed to (ureclose this m~xtsa6c. the Atnr~- . pset ~hall be en~itled to apply at any t~me pendine such foreclosure suit to the court havins junsd~etion thereof for the appomtment of a rccerver ot all and sinsuhr the mort6ased property, and of all rente, mcomes, profits, issues and re~enuec tAereot, from what,oe~er source denved; and thereupon tt ~s hereby expressly cu~enanted and •~teed that the Court sAall forth~vith appomt such rece~ver ~auh the uswl powerc and duhes of rcceivers in like cases; and s~id sppointment shall be m~de by the court as a matter o( titnct nght ~o thc Morl~a~ce, and w~thout rdere~ce to the adequacy or inadequacy of the value of the property hereby mort~ased, or w the solvency or insolvency of the Mwtp~ws or any other party defendant to such suit. The A1wta~~er hereby spec~(~c~lly w~a~ves thr n6ht to ob~eci f to the appo~ntment o~ a rece~ver as a~o:csa~d and hereby expresaly consenis that such •ppointment shall be made as an adm~tted cqm~y and aa a matter o( absolute ri6ht to the ~tort~asee and that the same may be done without notice to the \torts~~or. (f) Jf foreclosurc procetdin~s should be inst~tuted a~sinst the property covered by this mortsase upon any other I~en or claim +hether alle~ed to be super~or a~unior to the I~en o( th~s mor[~~~e, lhe Mort6a`ee rray st h~s opt~on ~mmed~ately upon in,htuuu~ ot .ucA su~t or dur~ni tAe pendency tAereof declare this mort6a6e and the indebtedness securrd hereby due and payable turthw~th anS may a; ~i. oppon proceed to faeclose th~s morl~a~e. Ths1 the Mortp6or r~ll keep alt real and personal properly now~ or heteafter encumDeted by the I~en ot th~s mort~a~e ~nsured as mey be required from ume to time by the Morl~a~ee a~amct loss by fue, M~indstorm and other hazards, caswlt~es and aon~~n6tnc~e~ (or su~A periods and ior not les~ thsn such amounts as may be requued by the Mort~a~ee and to pay D~~+D~~Y ~'hen due a!1 prem~um. (w such ~naut~nce. The amc.unts o! insut~nce required by the Mortsn6ec sh~ll be the min~mum amounts fw vh~ch said insurance shall be rr~tten and it shall be ~ncumbtnt upon the Nortas6or to ma~ntain such sddit~onsi ~n~urance ss msy be nececsaty to mcet and comply (ully w~th •I1 `o-insuraoce requirements contsmed in said pol~cies to the end that the said Mortaasor ~s no~ a co-~n~uror thereunder.lnsurance shall be Ncuten by ~ comp~ny or compan~es approved o? des~~nated by tAe Mor~`a~ee and all pol~c~es and renewal~ thercof ~hall he helJ by the No~tsa~ee. All deta~led des~~nat~ons by the Mort~stor which are accepted hy the Mort~a~ee and all asreements between ~lortgaEor and Mort~a6ee relat~n~ ~o msur~nce, no~ ex~st~na or here~!ter m~de, shall be in wnt~n~ and shall be a part of 1h~s mw~ga~e a~~eement as fully as Ihough set fath rerb~t~m here~n and shall ~overn both parties hereto •nd the~r successors and ass~sn.. rio I~cn upon any of s~id poGcies of insuran.e ot ~pon ~ny ro(und ex return premwm vh~ch may be payablt on tAe csncellition a term~nauon thereot, .hali be ~~ven to other ti,an thr Mor~~~~te, eicept Ay proper endorsement aB~aed to ~ueh pol~cy and approtied by Mwt{~~et. Fach pol~c) ~~f ~nsurance shatl have aftlaed ~nereto a Standard ~ier York Mort~a{ee Clause .~~thouc Con[ribution, makms •ll loss or lossc~ under .uch policy payable Iu the Mort~s`ee as ~ts interest maY •DD~~r. !n the event any sum or sums ot money become payable ~hercunder the ~1ort• sajce shall haye thr opt~nn to receive and apply the ssme on aecount ot the ~ndebtedness hereby secured, or tu permit the ~1or~g~R~.~ lo rece~ve snd usc ~t. ~x any part thertot, ar~thout thereby r•aivmf at impau~ns any tyurty, :ien, or n6At undrr and by vutuc ot ths. mcxt~a`e. In errnt o( loss .x physi.zl dsmase to the mortEaEcd proper~y the ~lortda~ot shall s~vt ~mmcdsate noucc thereof br -=~~t t~~ the ~1oriRaRec ~nJ thr ~torlFaR~e nay m;Jcr pr~~u( ot lo.~. if thr ~amc s. ~ot ~~de promptl~' by tMe ~1ori~e..p~u. In c.~•n~ „f t~:re.!,..ure ~~f . ~ 1 ~ BOOK f'11~,~ a _ - . - - - - - ~ ~ - ~ : _ .