HomeMy WebLinkAbout0159 PROVIDFt1, ~I.WAYS, tha~ ~f ~he ~lurtg~ior shall pa~• unta the \brt~a~ce ~he ~~xiebtedne.s r~~~Je~ced by a
ceria~n ptom~ssoty ~ote of wh~ch 1he tallow~n~ in w~ords and fi~uros ~s a true copy to-w~1.
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=~-v_ y- ~ . •'.::.:_~,i~~-~~ - UOI.L:1(~, to~ctEu•r Mith int~•rr~t ~
:i:rrruc? l'r.?;n d.~tr at t:ir ratc u: tcn ~~crce:it. per annucn until maiurity, bo:;: priacip:,i and intc.rc.:t b~ino payaLlr. in l;~a~fu! mon~y~ uf ~
i nitrd ~trt~~ :.t :.''~-:•1 ~:i.ca~~r.c B:~d., \fiami, Flori..a~ or at such otac~ p:a~e a~ ihe 1~oldcrs hueof may desion~tc in writino.
~ i':inc+j~a! and ir.t~rt.:t pa?•able in inst:.~ImenL+..~ 2oltow,: ;
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aev~~vy-; ive ~;,~5.00) ~oll;
:rs p:;r ~o ce;;i~in;; on t 1e l~ ~h day
o_' Ja :~ary, ~.971, a~~ con~inuing on 2~~~ day o~' er~ch a:d ever~
:on~h t::~;rea:ter un~il paid in full.
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Thss noiz r:~ap be prep~z,i in ~~hoZ~ or in part after onc ytaz fro:r. t::c date hereof upon paysrent of a aer.alty equivalent
to fi~•e ptr:ea; ~i t: e prir.c:pal sum ptepaid.
Fa:h in,;a2lment payinrnt ohall be cctaitec fir~t on the interest u::e, and t:~e rem~inder on principal; and iniere~t sha!! lherr-
upon r.~.r u~un tnc pnncipal so cr.•dited.
T}u ma;.tr: and rnuor_en of tiii~ note fur:arr aaree to waive de:r,a: d, notice of non-aayment and protcst, and in the ~vent suit
~ ~:i~:: ~,r 5ruught for tfu co!tection hereof, or the same has to be co.:ecte~ upc:: demanc o~ an attorney, to pay rea;onaLle aitorney's ;
~ irr. for rnakin~ sucl co:teciion. ~
! Beierrr.: pz~•r: ~nt~ hrrcundc~ shail bear interest at the rate of ten perce~i per aa :um i:;,:n r.iaturity until paid.
7'his notz i: ~cuced bv a mortgaoe of even daie herewi.:: i; ;o :;e coas~rued a::d eniorced aceordin~ to t!~t laws oi the ?
~tate oC F{orida; upon default in L'n~ paymtnt of principal :c;icr ir.;crest ~~::~n duc, tht wkofe sum of principa! and interest 1'
' rc.rsuining ar.paid sha11, at ihe opbon of the holdtrs, become imme.iisiely ~ut and p~ya~ie. '
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P:c?~-~d by ~rxle: 8 Tend~ch, Attomeys - 2240 5iscayr.e 8lyd., ~::ami, F~c:~
and shatl perform, comply with and ablde by eac6 and every the stipulations. agreements, conditions and cove-
nants of said prort~issory note and of this deed, then this deed and the estate thereby created shall cease and be
null and void.
l. The Moctsaaor heteby cov~nants and agrees:
(a) To pay all and s~nsulu the principal and interest and other sums o( money psya~le by virtue ot ssid promissory note and this
deed. or either. proa?ptiy oe the daYs respectively the ssmc severaliy becomes due. .
(D) To permit, coomit or suffer eo rsste a.od to mainta~n t6e imyrovemencs at all times in a state of ~ood repair and cood~tion, aed to
do a permit to be dooe to sa?d prem~ses aotA~as Wat ~r~ll alter or chan~e the use aad cAuscter of said property or m any ray impair o~
seakea the secwity ot Wia ewrt~a~e. Aed ia case of the refus~l, ne~lect or ioability of tbe hlortsasor to repsit snd maintain said proper-
tY, the Mortpaee wy, at Ais ophan, make sueh repairs or cause the sama-to be aude, aud ~dvance mooeys in tAat behalt.
(c) To pay all and sinsulu the taaes, assessments, tev~es, liabilities, and obliptions ot every nature oe ssid describcd property esch
and every ~hen due aad payable accadin= to lar, be(ae they becamt delinqucnt, and to deliver to tAe Morts~tee on or before MarcA
ISth ot eacA year tax receipts ev:dencin6 We p~yment of all lsvtul)r imposed ta:es tor the precedio~ calcndar year; to ~ndemnify the
llortjasee upoa his deaeaad tor all taxes, assessments and charses that m~y be assessed upon this mortaase on the indebtedneas s~-
cured hereby, and pa~d by the mortsasee. ~~thout rc6ard to any la~r 6ereto(are cn~cted or hereafter to be enacted impos~ns ~ayment o:
the .hote or anY .~art tAereof upon the Mortaa~ec_
!d) To pay all and sin~ultr the costs, charars and e:penses, inelud~ns Is~ryers' fees and abstract costs reasonabiy incurred c~r paid at
any ume by the Mortp~ee Decause of tAe fa~lure oo the part of tde Mortga~or to pertorm, canply v~th and ab~de by each and every the
st~pulat~a?s, asreementa, cood~t~ons and covenants of said promissory note and this deed, .x elther, and erery suc6'payment shall bear
mterest tros date at the rste of ten (10'i~) pcr centum per annum.
(e) !t ia turtbd eoveoaated aad a~reed by said part~cs that in tAe event of a suit be~ng inst~tuted to taeclose th~a mort~~~e, the Mo~t-
p~ee shall be entitled to apply at any time a~a;~a such foreclo~ure suit to the court harins jurisdict~on thereo/ for the appo~ntment
of a roce~ver o( dl and sin~ular tAe mor[~a~ed property, and ot all teats, incanes, ptoC~ts, iasucs snd revenues thereof, tro~a r•hatsoever
source derived; and tbete~Dw? it is bereby expre~aly coveaanted aod s~rced that lhc Cautt slull torthvith appo~n[ sach rece~ver ~r~[h
d+e uswl po~rers and dunes ot receirers in tike uaes: and stid appointment shatl be made by the court as a matter of suict risht to
the Mlort~a~et, and w•ithout rctereoce to the adeQuacy a in~dequacy ot the vatue ot t!?e property Aereby matpsed, o~ to the solvency
or insolveacy ot the Mortp~ors or any other psrty defsndant to sucA suii, the Mortp~a bereby spec~tically aaives the nsht to o~~ect
to tDe appointment o( a teceiver as atoresaid and hereby eipressty conscnts tAat such •ppo~ntment shal! be made as an admitted equity
and as a mattt~ ot absoluu rishl to We 1~lortsasee and that the sse~e msy be doae w~thout notice to the Mortsa~or.
I( forcclosure proceedinsa should ~e instituted at~inst tAe pcoperty corered by t6is mortpse upon any other lien or clum whether
alle~ed to be supenor ot junior to [he hen of this mortp~e, the Mat~~~ee ~cay at his optim imieedutcly upon rost~tduan of sucA su~t
ar durins tbe penQencr thereof declsre tA~s mort~a~e and the udebtedne~s secved hereby due snd payable t«th~i~h and may at ~ts
opuoo proceed to toreclost th~s mort~a~e.
l~ That the A{ortµ~a r~ll ketp all real and personal p~operty nor or hereafter encumbered by ibe I~en of shis mort~a~c ~nsured as may
be required froo time to tiae by the Mort~aaee a~a~nst loss by (ire, wr~ndstatm and other A~zards, caswtt~es and conUn~eac~es for such
per~ods aRd lar not ieaa t6~n sucA aaounts sa msy Et required br the Mortp~ee aad to p~y promp~ly rrhen due atl prem~ums for such
~nsurance. 'Ihe amow?u of inswsnce requued by the ldort~a6ee s6a11 !~e the min~mwn amounts (or ~sh~ch ~ea~d msurance shall be rr~tten
aad ~t shall De ~OCYObl1~l Yp011 1bC MOtt~~~0f l0 Q1alQlilA suc6 add~qooal ~nsur~nce as msy be necessary to meet and comply tully rith
att co-insurance requ~remeab eor+taiaed in said poficies to the eod tAat the s~~d Mortq~a ~s not a co-~neuror thereunder.Insurance
sAall be vnttee by a compaay or coopm~ea approved «des~~na~ed by tAe t~lort~a~ee and all pol~c~es and reae~als thereof shall be held
DY the 6{atpsee. All deta~led desi~nstfona by the blon~asor ~rh~ch are accepted by the Alortsa{ee and a!1 asreements betseen Mon~~~or
and Mwtsasee relat~ns to insur~nce, nor e=istins a Aeres(ter msde~ sdall be in wtit~n~ :nd sbal! be a part ot th~s mort~a~c a~reement ,
as (ully as thou~h set forth rerbat~m hereie and shall ~overn botA parties hertto ~nd d?eir s~ccessors ~nd assi~ns. No i~en upa~ any of
s~id policies o( insuranee or uPan asr refuod or retwn prue~uee irhicA wy be p~y~ble on the c~ocellat~on or terminauon tAereot, ~~~II
be aivee to otbet thao tht Yott~~set, eacept by proptr endorseoent ~f(~aed to such pol~cy and apptored by Mat~~~ee. Esch pol~cy o(
~nsrranu sh~ll ha~e aft~aed thereto • Standad Ne. York trlos~~a~ee Clawe r~tbout Coau~but~oa~ o~akins alt loss or losscs ueder sucA
policf psr~ble to tbe Mortp~ee as it~ ioteres~ mar appear. In tbe erent any aum ar auss o( moaey becowe payabie thereundcr the ~lort- ~
ia~ee sball h~ve tbe opum co receire aad •pply tbe s~se on account of tAe ~ndebtedaess hereby secuted, or to perm~t the ~1ort~aRo~
to rece~re atd use ~t, a sny part thereof, w~thout tfiereby •srv~n~ a uapa~nn~ any equitr. I~ea. o? n~ht undei and Ay vv~~e o( ~h„
mat~e. It? erent o/ lo~s a physical damaie to the e~ortss~ed propertr 1be Mort~a~ot shsll ~~ve ~mmed~ate not~ce ihereof b~ rrs~l in
~ht Mort~~~ee snd the Mortsa~et may makt proof ot loss the ssme ~s oot msde pranp~ly by the Mat{a~or. In e.cn~ o( {cxe~ln.ure of
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