HomeMy WebLinkAbout0862 PROVIDE(1, ALWAYS, that i~ the Mal~a~a shall pay unto the Mo~tjasee the indebtzdnesi ev~Jrnced by a
certun p~om~ssory note ot which the followin~ in words and fi~ures ii a We copy tawit:
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S~5•~~ _ 111i.tmi~ Florida October j~. ~q
Fott Vn4u~ RECt~vru !~+e, jointly and severally, promi.•e tu y
tu th~ wdcr o! IA_~ L. SPIRT ,
Ihr principal ~~m o(~~t~ i i1oU ~~?1d ~CVC:1 :.undrec: ^;tien~;; ~ 1Ve ~:nd l~0~~t~, tugethrr wi~i~ interr.t ~
thrrrun Gum date at thc ~ate of ten percent~ pe~ annum until matutity, both principal and interest being payable in 1aw(ui monry uf
hr l~oited >tatea at '32~ Biacayne 131Yd., Nliami, Florida. or at such othe~ p4ce as the hc,ldeas hercuf may dcti6n~tc in writing.
1'rincipal and i~te~c~t payable in installmcnta as (oliowH: -
~ixty-r ive ( a65.00) Dollars per montY:, be~;inning on t'r.e 15th d;.:J of
iace~:ber, 19?0, and continuin~ on the lith day of eac:i and ever^J ~onth
thereafter until paid in full.
This note may hc prepaid in whole or in part aftec one yeac from the date hereof upon payment of a pertalty equivalent
t.~ five perctnt of the principal sum prepaid.
E~ch instaliment paymeot ~hail be credited Grst on the interest due, and tt~e remainder on principal; and interest shall thrre-
upon cease upun t6c principai so crcdited.
T?ie o~aken and cndorscrs of this note [urther agree to waive dcmand. notice of non•payment and prote.~t, and in the event auit
~li•all k,e bwught [or the eollection heceo[, or the same has to be collected upon demand o[ an attorney. to pay reasonabte att ey's
fre. fur making sueh collection.
~ Uefened payments heoeander'shal) b~u interest at the nte of ten perceot per annum from maturity until paid. '
7'his note is Fecured by a mortgage of ~ven date henwith and ia to be conatrued and enforoed acca-ding to the lawa f the •
e ~tat~ oi Flarida; upo~ difault in the payment of principal andlor inten~st when due. the whole sum of Prir~cipal and ' reat
rrmaining unpaid shall~ at the option of the holders. become imraediately due and payable. .
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Prepucd by Spieler & Trndrich, Attorneqs - 2240 Biscay~e Blyd., Miami. F' .
arKi ahall perGxm, comply with and abide by each and every the stipulations. ajreements, corKfitions ~and cove-
nants of said promissoty note and of this deed. then this deed and the estate thereby cteated shall cease and be
null and void.
1. The Mort~a~oc hereby covenants and atrees:
(s) To p~y all-and sin~rlu tbs pr~ncial aad ~nterest uW otAer ausa of +ia~er p~y~ble by virtut d s~id prom~ssory note and thls ~
deed. w eit6er. pto~ptlr ae t6e daYa resotc~ivclY ~ s~ee sever~lly 6eco~es due. •
lb/ To per~it. caa~it ot sa(fet no ~r~ste a~d Io wunt~in -the ia~proreseats ~t ~11 ti~e• ia ~ sl~{t of ~ood rep~ir uid cond~tioo. ~nd ~o
do or penrit. to be doae b said preaue~ aotAin~ t4at will alter or ehan~e tbe use and cAu~eter of s~N pro0ertr or in any ~ar ispair or
wesktn tAc secwity ot t~ia oott ~
p~e. And ie case ot tbe retusd. es~leet ot ieaAilitr o( tAs Mo~t~uor to tep~ir ~ad oainain s~id proper-
~y, ~~Ae Ma~~asee o~Y. ~t his optian. sske sucA repairs o~ c~we tAe ~qe to be s~de. ~ud ~dr~ece easera in tlyt b~hNt.
(e)-To pay all and s~a~~lu the axes. •ssesssca~s. leris~. li~biliti~a. aea oeli~ation~ of etcry aattNe oa ~~id desctibed ~operty each
and every oAen dbe +nd psYable accordisj to I~+r, Aefore t6er weawe deliaqYeat~ ~ad to deliver to tbe 1layasee on a befae lilarch
13~h of e~ts year taa reccipts evidcacies the araeat ot ~11 I~~fnltr i~pwed tue• tor.tAe ~eeedin~ e~lsedu Yeu; p indemnify the
Mat~a~ee ~ooa his dcm~ad for all ta:es: ~sses~ieents ~~d cMupa tli~t Mr be usessed ¦Pon qiis sottf~~e on t6e indebtedne~s
cured AcreOr, sed ~aid by IAe isort~~~ee, rithOY! ft~~td t0 aAy I!~ ~e~stofae eoscted a hsrs~Rsr to bt eaactsd i~pwm~ ~y~tnt of
tAe ~ho{e or ~nY ~srt tAer~of rpan tbe Atort~~~ee.
(d) To pay all ~nd iiajulu tAe costs, cAar~es and eaOeaa~s. iuelYdin{ I~~ryers' (ees ~nd ab~u~et cwts rt~son~bl~ iac~rred ~ p~1d a~ i
any ~uae br lAe ?lat~~ee becaase of the f~ilure oa ~he Mrt ot tAe 1,lott~t{ot to Oerfon~. eo~lr wtW and ~bide ay eacA and e~cry the ~
st~pulai~au. t~reen~entt. conditions snd corcn~nts ot i~iA yto~i~sary note ~nd lsis dced. a eitAer, aad every such'p~ye~eni sh~ll bear 4
m~erut fro* datc at tAe r~te o( ten (10'i) per esatw pet ~aMrn. ~ ;
lel It u Grtber corenasted ~ad a~rced by sud puuei t6~t iA tDs steat o( ~ swt bein~ institutsd to faeclwe thi~ wo~t~e. tAe Mat-
p{cs shalt be enti~kd w•~Ir •t ~ay t~ee pcndin~ sneA lorscloare ~rit to the court b~rie{ juriidielioo tAereo[ (or We ~poomcaem
of ~ recei~e~ o( all and siaWlu tAt sor~~~~cd poperty. and ot ~11 te~ts. iaeowes. ~~ts. i~iYSS ~ed rev~aues thereof. fro~ rhauoever -
soYree deri~ed: ~ed tAetenDoa it ia Aerebr eaprss~lr eov~aa~tN uN a~nsd ~h~t tbe Caut ahall fottU~itM ~~oiat s~cA recei~er ~r~th
ehe wwl oo~rera and d~teta of receirers ia like cuea: an0 ~~id apoiatsent sMsll se sade by ~4e eare u• aa~u~ o! s~ric~ r~~~ ~o
~he Mor~~~~ee. uW •ithwu re(erence ~v ~he ~deqracr at in~deauaer ot tMt v~lue of tbe otopertr Yereby sottp~ed. or to tAe solvency
or insolvescY of tAe Morttaiors a any o~her Party defend~at to src6 ~uit. Ths Mo~c~~{a heteby a0tti(i~~lly ~r~i~es tAc r~~ht to object i
10 Ibt ~~{IIAtAtA/ O~ a reetiver as afores~id ~ad Aerebr sa~~s~ly conatats tb~t sYeA a~oiataest sball be w~Ae ~n adantted eQu~iy
aad ~s ~ Mtter o! ~bsolrts ri{ht to We Mortq~et ~nd t6~t t~s sw Mr bs doee vidlont notice to 1he 1{ottµ~or,
(f) If taecloaYrs Drocssdis~ sboYW be iastiwted as~iwt H~e ~roMrty aovsttd br Wis ~t~a~s noop ~er pthet liea or cl~ie ~rAetAer
alle~ed io be superior a jwia [o the tien of this eoripte. Ws yortq~se ~r at Ais oP1io~ i~dialslr upe iaatitut~on of such a~it
a dw~e~ t6e oeadencY tiereof decl~re tAis a~ort~a~e ~~d Ws iedsetedeess secured bsr~by dnc and wy~sle tath~ilh ~nd may st ~h '
oM~au oroceed ~o faeclo~e tL~s ~ortp~e. ~
s
That We Mort~or vitl keco all real aad pcraon~l pro~sny ~ar or hsrs~Rcr eecuwrcred by ~Ye I~en of tbii ~ts~~e ~nsured as msy '
~e required frow ii~e to ti~e by U~c Moryasee ~jainst loss by fire. riedstors aad other Auuds, cuwltiq an0 coeun~enc~cs tur wch
pe~~ods ss~ tor sot k~~ tAia sucA .wow~a a, ..r e~ nwaer ~y ews worci.~ee .aa co wr ~o.~v~~r •~o e~ .u ~.~eawe: tor sYCh
~eaw~~ce. T~e ~u ef iaswauce rea~ued br Uc Mott~ys~ ayll Ys IA~ I~i~iw ~oo~rft~ far ~rbieb ~~id ieaYqscs sAall be wnettn
sed ~t sb~l! 6t u~tw~bdlt ~on We Mory~yat to Ni114Y1 ~11C4 oAdilional ~n,~r.ec. w.r es aece...rr a nss~ .ae ~o.p~r r~nx .~th
•II co.~ss~r~uee reqYire~sat~ conuined ie i~ia oolicis~ to tM~ sM Wat tAt s~id Mottµ~or i~ not ~ co-insYtot tAerew~Aer.Insur~nce
,b,u ee .r~~es. sr .~oy~~r oe cop~aita ~rotored or Atrip~tN ~y da 1iat~s~s~ snd ~I) ool~tis~ a~/ re~~~l~ tbt~ed shall be Aeld
br tre Matasaee. Alt dstaittd deai{s~t~oas br tbs Mat~~~or ~rAiCw ~q ~teeOlsd ~r Ir~ yort~ee ~od ~11 yt~s~spts ?st~esa MottN~or
~ad Mx~qee rel~t~e~ ~o ~w~rn~ce, no. cai~ua~ or Msrs~(tsr wd~. ~II be ia rritias aM A~11 k~ out ef this ~~p~e ureaaen~
~s frilr ~s ebou~A ~et forth •erb~u~ Aereia a+N ahal! aorera bWA ~ti~a Mrsw ssA ~ir ircces~ors ~0 ~s~yns. No liee ~oon ~ny ot
a~i1 plieies of ~~aw~ace or ~oon ~sy re(wW or retwn ~s~ir ~rUk!? Mr ?s Mr~ple oe tU~ e~~eetl~tioa or tst~i~atioe tAereof~ sh~ll
Oe ~~ves to aYsr ~M~n tYs yatN~ee. eace~ br p~roosr eMer.s.q~ .ttis.~ a,rsA oolier .sf .yro.d by Mor~~a~es. Each ool~cy of
iaawascs ~1?al! lurs alts~d 1Aereto ~ it~rOsrd Ner York YatN~s~ ChrN ~ridiort Ceetriwtiaw. pti~ ~1) Io~i a loises ~uwler auch
oolicr Mr+blt to tbe Mortp~se iu iatersat yr ~p~W. p~ ~~rMl Y~ ot ~wy a( sMtr b~ta~s Nyaele U~ertundcr tAe ~1or~-
NKe sh~ll Asve tAe oPtiou ~o recs~ve ~pd ~pty tIN w~s • seeert d ~4s iMNeed~sa~ ~srsir ase.rsd, or to oer~~~ ehe Nnrt~s~er
to reeei~t ~y we it, or anr Mrt tAersof, ~itAorl IAerNp ~~iviy ar i~iti~ ur switr. I~ea. ar r~{6t w~der ~nd by vulYe ol thi.
watN~e. 1~ crsal of loas «~ur,~~.~ e...a~ to t~e ~ort~~~tA /to~erty 1Me Mort~ot sY~ll ~ive ~~w`dute nobte Ihtreof br m~il
~ M~~N<« +~J ~Ae Mortq~ec wY ~ake praof o/ los~ ~t tAe ~~we ~a no~ ayde aowO~lr br Uu ~Iorysaa. In cren~ uf tae~ln.yr~ o(
p y~ ' j
. . - 60RK 10S PACE ~~1 .
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