HomeMy WebLinkAbout1318 _ jr ~
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PRt1VIQEII. AI..WAYS. that if the \lortgago~ shall pay unto the 1~Iortgagee the indebtedne~s evidenred by a
certa~n p~ani.sory nute o[ which the foUowine in wurds and figures is a true cupy to-v?~it:
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= 825-~ ' Miami, Floridi ~7'ariual^v~`jth t9~Q_ ~
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FUK VALUE Ri:CEIV~D
- Pmmise to pay ~4 ~
tu I~eo~dtto( N3T _FFtI:::D~r1!~N t~IId ILLI;: _ I~D?tdr1N, iS wl e
!h prineipal aum oi Ti gh~ Hi~nr~r~(i TWgntvr,~i Y~AIId_.NQ~1~ DOLLARS, together with interrrt
thereon from date at thc rate ot ten percent, per annum until maturity, both principal and inten~t bein6 payabie i~ lawful moncy of
thc United Statee at ~4t Biscayoe Blvd., Miuni. Florida, or at such other place u the holders hereof may dcaignate in writing.
Principal and inte~est payable in ineWlments as fdlowa:
Thirty (830.00) Dollara per month, beginning on the 15th da~r of March,
+ 19?O, and continuing on the 15th da~r of each aad every month thereaYter
until paid.in full. .
This note may bt prepaid in whole or in part :ftet one year from the date hereof upon payment of a penalty equivaleot
co five percent of the principal sum prepaid.
f'acli installmcnt payment ahall be credited firat on the inte~eat due, a~d the remainder on principal; and interrst shall thrn-
upon ccase upon the principal so credited.
Tl~e makers and endorsers of this note further agrce to waive demand, notice of noa-payment and protest, and in the event suit
~Fiall be brought foc the collection hereoi, or the aame has to be collected upon demand ot an attorney, to pay reasonable attorney a
fer~ for making such cdlection.
Deferred paymenta hereunder shall bear interest at the nte of ten peecent per annum fmm maturitp until paid.
Thia note ia eecured by a mort~ge~of even dat~e herewitl~ and is to be conetrued and enfoc~~ed according to the lawa o
State of Florida; upon.default in thapa
yment of principal andlo~ intercat wben due. the whde eum of principal and in
remiining unpsid ahall, at the optan of the holdees, become immediately due and payable. •
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(SEAL)
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~~~LcY~+2 ~iLC/! ,,,l~~o~Ls~~ (g~qL)
Preparcd by Spieler dc Tendrieh. Attomeys - 2240 Buaqrae Blvd.~ Miam~ F
ar~d ~hatl perform. cumply w~th and abide by each and every the stipulations, agreements, condition~ and cove-
nants of said pr~xnissoty note and of this deed, then this deed and the estate thereby createo shall cease and be
null and vo~d.
1. The 111ortgagor hereby covenants and agtees:
la) To pay ali ~Ad ~~ngular the pr~nc~pal arn! inurest and other swns of tooney payablc by v~rlue of said pran~csory note and th~s
deed, or eithc~, promptly oo the da;s reapectivelY the ssme severally becomes due. •
(b) To permi~, ce~mmi{ or suffer no vaste a~d to maintain the ~mproveqxnb at all times in a stste of 6ood repair and cAad~uon, and to
du ix permi~ to he.dorie to ssid pre~i:es nuthin~ that r~ll alter or chaa~e tbe use aad character of sa~d property or m any way ~mpau ~x i
weaken the secur~ty-of this h~ortease. Aad in cast ot tbe rctusal, ne~lect Qr iaabil~ty ot the Mort6asor to repair and maintain said proper. ~
ta, ~he MortpEre may, a1 his opSion, make such rtpairs
or cauce the same to bt made, and aAYance moneys ~n ~at behalf.
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(cl To pay all and sm~ular the tsxes, a~sessratnts, leti•ies, leabilitees, and obliptioos of ev~ry naturc oo a~id descnbed poperty ea~h ?
and e~eiy vhe~ due and p~yable accord~~ to law, be(ore they becane delinqucqt, aod to deliver to the MOrtaa~ee on or be(ore MarcA
lSth ot eath year ta~ receipts evidencia6 thp payment ot all lawfully ~eiposed qae3 tor tbe preced?na ul"endar year, to ~ndemn~fy the t
lltatsa~ee upon h~c demaad (a all laies, a~sescmentt and charjes that auy be sssessed upoo this mortsa6e on the indebtedne.c `
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cured hereby, and paid D~ the mortEa6ee, witbout reeard to any lav heteto(ore enacted or hereatter to be enac~ed ~mposin6 ~aymrnt o:
the rhole or any ~+art thereot upon the A1ortEa6ee.
(d? Tu pay all and s~nEular the co.ts, char6es and expenses, ~nctud~n6 tawyers' fets and abstnct coste reasonably incutred n? pa,e
any ume Ay the ~fortga~ee because of the fa~lure on the part of the Mortaasor to pettQrm, eomply ~rrth and abidc by each and c.r•~ ih~ ~
supulations, a6reemcnts, cond~hon_c and corcnants of said promissay note and this dted, a tiMe7, and every such'payment shall r+r~r
mterest frnm da~c ~t ~he nte ot ten f 104) per centum per annum.
(r1 It ic furcher covenanted and aarced by said parties that in the event ot a suit beinj instituted to torecl~+ss ~I113 GM(ji~t, the ~t~x~-
E~6ee shall he entitted to apply at any time pendins Such toreclosure suit to the court h~rin~ junsdictim thereot for the appo~~~mcn~
o( a rece~ver of all and sin~ular the mort6~6~d property, and of all rents, incames, ptofits, issues and rev~nuec thereof, ~fOlq ~t'IIYI~tKtt'f
srnuce derired; ared ~hrreupon it is hereby espressly covenanted and a~reed Nat the Court ahall torthwith appoint such receiver v~~h
the uswl porers and JuUes of ~eceivers in I~ke csses; and sa~d appointment shall be made by the cowt as a mauer of .trict r.gh~
thc \1orl~asee, and Mithout reterence to the adeqwcy or inadequacy o( the valuo of the property hereby mvrta~Eed, rx to the .,•hrn. ~
nr insolv~ncy of the Atortsasors or any o~her party deferWant to such suit, The Mort6asoc heteby specitically r•~ives the risht t,• ol+~r,i
to ~he appoin~ment of a receirer as afwesaid aod here~y exp~essly consents that sucA appointment shall be made as an adm~ttel cqu~~y
and as a ma[ter of abcotute ri~ht to the Martp6ce and that tbe sawe mty be done w~it6out notice to the Mortsasor.
(f) (f fwectosure pruceedin~s should be instiwted apinst the property covered Dy this mortjaae upon sny other lien or claim ~.h:thcr
alle~ed to be superior a junior to the liea ot this aortp~e. the Matp~ee may at his opt~on ima?edutely upon m~titut~on of .uch .u~t
a durie~ the pendency thereof declare tAis eoort`aae and ~he indebtedness secured heteby due and payable falhr~ith and may
opt~on proceed to toreclose th~s mortaa~e.
(sT T6at ~Ae !1}atsaaw w~i1{ keep s!! resl snd persoe+sl propert7r nor a hereaftet encumbered by the I~en ot this mort~a~e insured as m~~
be required fran time to time by the Mwt`a~ee asamst loss by tire, ~~ndstam and other hazards, caswh~es and conungencie. (~.r .u.!:
penods and fa not less than such amounta as may be requ~red by the Mort~a~ec and to psy promptly vchtn duc aN prcmiums (or such
insnrance, Tt~e amnunts ot iasutance reqwred by tht Nort~aste sAall De the mia~mum ~mounts (or vh~ch said ~nsurance shall be ~~nttcn
and ~t chall be mcumbent upoo the lUortaasor to ma~ntain such add~tional in~uranee as m~y'be necessary to meet and comply (ullp w ith
all co-ioswance requi~ements contained in said policies to Ne end that the ssid Matp~at is not a co-insurw thercunder.lnsurynce
shall be wntten Ay a comD~ey or tomDso~es apptored or des~snated by the Mortsasee and ~ll policies ~nd tenewals theceot shall be held
by the Matpsee. All deUiled desi`oations by the Mortsasor which are accepted by the Mort~a~ee and all asreementc bet.reen MorttaEor
and Atortaa~ee relatrns to insurance, rtor e:istinj or he~tafter made, shsll be in rrit~ns ~nd sh~11 De a patt o! Ihis mottaaee a`reemen[
as tully as thou~h set forth verbat~m herein and shall sorern both pstties hereto and theit auccessors and assi~n.. No lien upon any uf ~
said policiea o( iesurance or apoe any re(und or return premiuen which aiay be payable on [he c~ncellatioe or term~nauon [hereof, shati
be ~~ven Io other tAan the t~oriasa«, exeept by proper endorsement affi:ed to such pol~cy and ~pp~oved by Mat~a~ee. Each pol~cy ~t
msurance ahall have af(ised thereto a Standud Nev Yak NortN~ee Clause ~rithout Contribution, m~kina all loss or losses unJer 5uch
policy payable ~o ihe Matpsee as its interest may ~pPe~r. In the event ~ar sum or swas ot rooney become payable ~hereund~r the jtore-
~ajee shall hare the opt~on to rece~ve and •pply the same oa aecount ot the indebtedness hereby secured, « ~o ~rnyt ille lf~riEapor
~o receivt and use it, or any part thereof, ~ithout thereby rairins a impairie?s any equ~ty, lien, or n~ht under a d by vutue of th~. ~
mortp~e.-In event of toss or phys~cal dama6e to the mort~seed property the ~lat~aaor sha11 ~ive immed~ate nouce tAere~f by ra~l to
the Nat~a~ec ~nd the MortRa6ee may make pro~~( of loss if the same ~c no1 made prompUy by tht ~lateaaa. In c~rm n( f~Ke~l~•urc
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