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Home My WebLink About1534 T ~ PROV1DEn. ALWAYS, that if the Mort~a~or ahall pay unto the Morl~a~ee the indebtedness evidenced by a ' certain pcomissoty note of wbich the followin~ in words and fi~u[es ii t l~ue COpy lA-M'll: ~ . s 1. 375. oo ~~~E ~ Miami, Fiorida 1"~A3~ 2~ l~i~ FOR VALUE RECEIVED We ointl and sev al p~oma+e co pay . co the «de~ o~[ORRIS GERSHIN d E d No the p~incipil wm o[ 11@ OU 9a11 @@ UII 1'@ eV@II y- VA DOLLARS~ together with wteresi thereo~ iwa~ date at the ate o[ ten percent, per ~nnum unW maturity. both princip~l and intereat beina payabk in lawful money o~ the Ueited Stata at 2244 Biecayne Blvd.. Miami, Fbrida~ ot ~t wch othe~ plaoe as the hddecs heneol mar de,eianate in wnting. Principal aad intcrest payaWe in insWtmenb as fdbw~: - Forty (g40.00) Dollare per month, beginning on the 15th da,y of July, 19?0, and continuing o~~the 15th day ot each end every month thereafter uatil paid in tull. ~ This note may be prepaid in rvhole oc in part after one year ftan the date hereof upon payment ot a peaalty equiv~l~nt to five percent of the principal sum ptepaid. Fach installme~t payment ahall be credited fuet on the iate~est dne, amd the remainder on principal; and interest ahail thcre- upon ce~e upon the pn~cipal so credited. The makers and endoraen of this note furtl~er s~ree to waive demand, notioe of eon-payment and proteat, and in 1he event ~uit shall be bwught for the collcction hereoi, or the wne has t~o be colkcted upop demand oi an attorner. to pay eea~onabk attor~ey'x [cac for making such cdkction. ~ . : Deferred paymenta hee~eunder ahall bear intce~at at the ate oE tee per~t per ani~um from maturity nnti! psid. This note is sa:ured a mort~e'ot even d~te 6a~eMrith aad is to be oonstruad and enfoec~d aa~rdina to the lawe of the • a rd State of Flotida; upon de ~lt in thepay ment oE principal aadloe int~reat ~?ben due, the ~rhde wm of pnncipal, and i~terest rem~ining unpaid sha11, at the optioa of the holdees, becon~e imn~ediatdp ~e aad p~yabk. (SEAL) , - ~ ~P~ M' ~ Ta~drieh. Attaneys - 2?~W Bi~agrae Bhd.. I?Wm~ R ~ (SEAL) and shalt perform, comply wiih and abide by each and every the stipulations, atreernents. conditions and ¢ove- nsmts of said promissory note and of ihis deed. then this deed and the estate thereby created sha11 cease and be null and void. 1. The Mort~agor hereby covenants and a~rees: !s) 7o p~y aii and ainsulu the priecipe) sai ioterest sad other sums ot moaey pay~ble by rirtue d a~id promiasay note and this deed, or eithe~, praaptly on the days respectirely the sase sererally becomes due. (b) To permit, commit a suf(er no rastc and to maint~in ths iaproveaeats at all times ia a state of ~ood repair and condition~ aad to do a permit to be done to said premises nothin~ th~c riti atte~ or chan~e tbe use snd cAu~cter of iaid poperty or in ~ny wsy impair a reaten thc security of tbis mortssae. Aad in case a( tAe tefupal, oetiect ~or aability ot tAe 1Aort~a~or to repair and maint~ie said pcoper- ty, the Afar[psee m~y, at his ophm, make suc~+ rcpairs or taase tbe same to be m~sde, snd sd~~nce roooeys io ~hat behatf. (c) To p~r all ~ad ainsulu We taaes, as~esaments, levies, liabilitie~, aad obliptions of every aature aa said deseribed property e~ch anA evetr when due ~ad payabie aecordie~ to I~w, bcfort ther becowe delinaueat. aw! to deliver to t6e Mott~a~ce on or betore~?I~tch 1Sth ot cacA year ts: receipta evideecia~ tbe p~y~eent of ~11 la~fnllr in~posed tues tor_iee vreeee~s~ c.~eea.r year io ineemn~tr we Matsa~ee upon Ais deaaod fot ali t~aes. assetsmeets and char~es tlut sfr be ~asessed upoe tAis eattai~e oe tAe~iadebtedaeu a•- cured 6ereay. ~ad paid br We matsa{ee. vithout resard to any I~r bsretolaa enaeted at hereafte~ W be eoacted iaposiaa ~y~ent ot thc ..6ole or anr ~art thereof upon Uu Mort~~~ee. (d) To pay aq ar~d s~nsulu the costa. ch~r~cs and e~~naes. IACIUdiAj I~~ryCff~ fees aad absttact+costs reasacablY iocurted cx paid at any tise by the I~Iartp~ee bec~we ot the t~ilure an the p~rt o( t6e i~/artp~o~ to pertas, cosply with ~and t~ide by eacb aad every the stipulationa. sireementa, conduions and covenanu ot said ptooi~~ory note aod Wia dee0. or eitber. and erery sueA'payment shall be~r interest trom drie ~t Ihe rate ot tea (l0'!r) per ceetum per aanu~. (e) It i~ turther coren~oted and ~sresd by s~id putie~ tdat in the e~ent o[ a s~it bein~ instituted to taeclost this mat~a~e. the Mat- p~te sh~tf be entitkd to ~pply ~t •nr tiorc peadias auch /aeeloawe auit to t6e court luviuj jari~dictim thereof fa the ~ppointmenc d~ receiver ot ~II and siofufu the ~ats~[ed property. aad of ~11 reeq. incase~. ~~ts. issue~ aod re~eaws tAcreot. (tos vhatsoeror sonrce dcrived; and thcreopoa it u hereby ~:aea,~r covsa~ntod ~ad ~~rsed t6at t6e Cowt sk~ll fath~ith ~ppoint such receirer wirh tbe waal powers aad dutisa of receireu in lite c~ies; uM i~id ~Dpoietseat shall be s~de by the co~t as a matter o( striet ri{bt to the Mort~a{ee, ~nd villwut refereace to the adeqwcy or inadequacr of fhe r~lYC o[ tl~e Otoperty httebr sort~a~ed, a to tbe solvency o~ inaol~escy ot tAe ~{orts~~ors or anr oWer party defendaat to snch anit. The Afatp~or hereby specilic~lly ~?aires t6e riaAt to ob~ect to tbe ~~ointaent of ~ recei~sr ~s ~foresaid •ad hereby e:p~es•ly coeseau Wu ,~cA a~o;eu.eac sba11 be sade as an admitted equity and ~s ~ s~tter ot fesolute risht to the Mortsa{ee aad th~t tAe a~we s~r be doae nithout aotite to the Wortp~or, (f) 1f foreclosure p~oceediaN shoutd be institutad a~~irut the ptopertr covcred br thi~ ~ort~a~s upon ~ay othet lien or ct~im whether alle~ed to be superio~ or jnniar to t6~ lien d tAis aottia~e. dee Nortsape o~r at hii oPtiap i~distelY upon iAatitetion ot sucA auit a durin~ tbe peadcacr tsereot deetare thii mory,~ae ~nd the iadebtedeess ~ec~red haeby due and ~pable fath~rith •nd may at i~s optiaa proc~~d w toreclo~s t6is a~otya~e. - (~1 Th~t Ihe 6lortµ~or ~ri11 tcep ~11 real ~nd personsl propetqr aor a 6peaf[er eecumbeted py t6e lisa ot tAia aort~~sc iosurcd ~s avay be tequired ltam tiwe to tiee by ~he ?lwtsajee ~qiast los~ by fire. ~~ndstorm u~d other h~zuds. c~swlties ~nd coetin~encies fw such oeriods and (or aot leas dus ~ncA utonata s~ wr be rsqnired by the Abrtja~ee ~nd to p~y pros~tlr wAeo due •11 prea~~ue~s ta such ina~u~ce. T6e uo~ota of inr~qacs requirsd bp t6e Ir(ort~~{ee ab~tl be ths sinie~w sso~nti fw ~bish ~~id inttuasee ~hall be written sat it ahall be incuwbent rpon t6e 1~loryaja to maiuqia •nc6 .aa~uoo•~ inaYr.nce as ..r be n~oess,rr ~o •~ee .~a ~omp~r tuny .rith ~11 co.iasuraace tequite~eat~ eoataiocd in s~id policie• to the sod that ~Ae s~id Mort~ot is oot ~ co-insuror therewder.lnsarance shall be rrrute~ 6y ~ caa~nr o~ ca~p~oi~s srptoved w deai~a~ted br tbe I~lort~tp~ sad al! policie~ aad rtnew~als tbercof sball be bcld by the MortWSee. All de4iled desi~utiona br the Mat~~tor ~rhieh ars acceot~d b~ We Yortp~ee aad all s~re~enes betreen 6Aort~a~or ~nd Mortsuae rel~tin~ to in~nrenca. soi esisti~ o~ harwtter aads. ~4~11 bs ia ~rritin~ and ~hall be ~ out of thi~ ~ortp~e a~reeasat u fullr as thpyA •et fortA ~erb~tiw bueia and sN~ll ~orern boM artiea bereto aad tYsir arcc~asas ~sd assi~ns. No lien u~ ~nr of s~fA policies of inswu~ee or uPoa ~ar refupd or ratwn ~esius ~hic6 o~r ?t parable m the C~nC~ll~tion or tenain~tioa tbereot. shall be ~i~en to ahcr th~a tAe Mort{~~ee. eacept br prooer eedorae~ast ~ffiaeA w a~Y oolity ~ad ~pprored Sr ~lat~~lee. L~ck politY of inanr~acs ~hall have alfised therelo a Staadard Ne~ Yort Mortpaee Cl~~ss ~itbont Cai~tribYtioa. s~kis~ i11 loss or losses under 5YCA ~ politr Par~ble ta the ~loirt~a~ee s~ i4 interest wr ~~eu. Is tb~ erest as~r ~w o~ ~wn ot ~oaeY peeowe ysyaDle [hereunder the Nort- ~~~ee shall ha~t We opti~n to receire aad •oply t6e sams os aeeo~t of the iod~btedaess bereby:ecured. or to persit tbe Morts~~or . to receive ~n0 wt it, or •nr p~rl Wereot, without tAstebr w~iviry at i~?~iriu~ ~ay equitr. lieo. ot ri{ht unde~ ~nd by rutue ~t~Aia.. • ~ sayye. tn erent ot Iws or pl~yaie~l Aasa~c to the ewct=~~eA property tAe Mori~a~or sAall ~ive ~osc0i~te notice therp f'tiY p1~i1'a~ thc ~/ort~~see and ~he Mat~a~ee wy m~ke proof of loss if the s~ae is not msde promptly 63 the Wort~ajar, !n event of f~ecln~ure o( ~ ~ ao~K ~.84 Z53~; _ - _ .