HomeMy WebLinkAbout0670 PROVII)kn, ALMAYS, tha~ ~f ~he \Iurt~a~or ah~ll p~y unto the ~brt~~~ec the indebtedne~~ c~•~dcncrd b~ a
certa~n pnxn~xsoty note o( wh~ch the tollow~ns in v?ords and f~`ures ~s ~ true copy tawit
J~v4Z~~Q.~E i•~;Gt~ ~ i . ~
' ~ccer.,ber 1~' ~?70 ~ `
` s l.~_..~_~ ~ii~nu. Flu~id~_ - 1-- - ~ - ~
~ F(1!t ~'.aLl''F: KE:I:E:I\'F:D_ •:C 1;~i71t1y_:1:1~~ SEVC^dl.l_y p~utn~•~ tu i~
~ ~ ~ \ ~ ~ q ~ n n T I ~
~ ; ~f~.•.,ra,•~.?[ _ -~_0_L _,~F.ICF~TI?~i..~,..1?~i~..~I~H,___HSS_~.~~L- -
i thc p~inri~~rl •iuu of ''Otll^ ~;OU ^~21:2 `~'hree i~U g~~ 1,~~;~ t!'^~`-?Q~d~I.LAIZJ. lo~~l~?rt wilh int~•tr.t ,
~ i~rrcan irum d.~tr at thr ratr uf tcn pen~rnt, pc~ annum until maturity, both princi~l and int~•~est Lcin~ paya4l~ in lawful monry uf ~ a
' ~e l'n~trd ~tatr. at '.'.'~•~-1 Ei~.cay~c Ql~d., \liami, Florida, o~ at such oth~r place as il~e huldee~ hereoi may de.ibnate in wtitin}~. ~ j
~ rinci~?al and ioterr:t p~yable in installments as [ollow~: ~
~ ;eve :~y ~`ive (;:?5•00) ~ollsrs per :~on~h, for sixty (60) consecutive ' ~
::.~nths, on ti:e l;tr day of eac:i anc: every Wo~th, ~e~innin~ on the 15~
S~ ~ay o_° ~ebruary, 1971, and continuing until the 15s~ day of ~'ebru~ry, 19?6
~t 1r:21CY'i t1T,e the balance sha31 become due and payable.
; i Thas note ma~ be prtpaid in w•hole or in part a[tec one ytac from tha date hereof uRon payment of a penalty equivalent
[o fi~e peccent o[ tht principal sum ~rzpaid.
, Ea: h in~tallment paymrnt shall br cr~dited [ir:t on tht intertst due, and the remainder on principal; and intere.t sF?al) thrrr•
upon ce:~<r upun the prin~ipa! ~u credited.
Thr maw~cs and rndorsrra of thi~ ~ote further agree to wai~:: demand, ~otice of non-payment and protest, and in the event suit
.i?all be bruu~ht for the rollcction hereof, or the same has to be collected upun demand oi an attorney~ to pay rei,onable attorney'r
;~~y~,,,' frr. tor makiao such collrctiun. • , .
f; Dcfe~rzd paymrn~~ hereundrr ~hall bear intere~t at the rate of ten perccnt per annum fcom maturity ur..~: naid.
This note is :ecured by a mortgage of even date herewith and is to be construed and enforced accoca.:.~ to the laws of the ~
~tat~ o f F lan da; upon de fau l t in t h t p a y m e n t o f p ri n c i Q a
l a n d l o r i n t
e~ t~
w h e n d u e, t h e w h o l e s~ m ~ f p ri n c i p a l a n d i n t e r e s t
~ rcmaining unpaid ~hall,.at the option of tt~e hotders, become immediatel~due ~nd payable. ~ ,i
; ~ 'i
~~'...t% -7~ ~ ~ ~ ,+~r (SEAL)
~ ~•r l ~,/!J ~ ~
% (SE,1L)
4~ Prepared by ~~xler 8 Tendrich. Attorneys - 2~~10 Biseayne Blyd., !~1umi, FI ' ~ •
and shall perkxm, complv w~th and abide by each and every the stipulations, agreements. conditions and cove-
nants uf said promissory note an~ of this deed, then this deed aed the estate thereby cteated shall cease and be
aull and vuid.
1. The Mort`a~ot hercby covenants and agrces:
(a) To psy all aod s+n~ulu the a~nc~w~ anQ ~nurest aad' other swns of money payable by rirwe of sud prom~ssay note and th~s
decd, er e~ther, prasp~ly o~ the days respecti~ely the same severally becoaes due.
(b) To permit, caw~t a~u(ter no ~raste a~d to mamt~~n the ~mprovements at atl t~oes in a sute o( ~ood repau and condu~m, and to
do or pem~t to be doee tu sa~d prem~ses nothin~ thac vill alter or chaaee the use and chu~cter o( said property or ~n any way impsir a
j ~ruken tAe secunty of th~s uwrtp~e. And ~n case ot the re[us~l, ne~lect or inability of tAe Morit~tor io repair ~nd m~inam a~id proper-
! ty, the Mort~aEee auY, at hia opt~on, make auch repa~rs or cau~e the saarc to be made, aad advsnce ewncy~ in that beh~lf.
i
i (c) To Pay all and ~in~ulu tl~e taxes, •ssessmems, le~~es, liabilities, aed oblisations of every natute on said desctibed property esch !
~ and e•ery rAen due and paYable accord~n~ to la~, be4ae they become delinquent, and to deliver to the A{ortsa6ee on or Aefore March
~ ISth of each yesr tax rece~pts evidenc~n` tht paYment ot all lawtully ~mposed t~xes for the preeedia~ calendar year to indemnify thc ~
~ Natp~ee upun his dem~nd f« all taxea,~assrs~ments and ch~r~es that awr be •ssessed upon this mort~aae on the indebtedneas s~-
curtd hereby, and paid by the mortda~ee, w~thout re{ard to any lav heretofote tescted or hereatter to be enacted imposin~ ~ayment ot
[ ihe ~hole or any ~art thereo( upan tAe Nortsa~ee_
~ ld) To pay all and amsulu the costs, char~es and e~penses, includen~ I~~yers' tees and ab~tract costs reasonably ~ncurred or pa~d at
~
~ any cime by thc \lort`a~ee because of 1he (a~lure on the part of tAe Mort6asor to pu(orm, comply v~th and abide by e~ch and every ihe
e supulatums, atrtemenls, conduions and covenants of ca~d ptoaussory note and th~s deed, ot e~iher, and erery such~pa>rt~en~ shall bear
~ mterest lrom date at the rate of tcn U04) per centum per annum.
~ (cl (t is (urther covensnted snd apeed by ssid part~es that ~n the event ot a suit beins mstituted to faeclose th~s meKt~~ge, the Nor~-
~ sa~ee shsll be entitleE to apply at any time pendin~ such foreclosure suit to the court h~vina jurisdiction ~hereot [or the appoin~ment
of a rece~ret of all and sin~ular the awr~=~{ed property, snd ot all renta. itxaaes, profits, isaue~ aad revenues thereof, fiom .hatsoever
~ source denred: aad ~heterpon it ~a hereby tapressly coren~nted and ~{reed that the Court shall totthrith appoint sucA receiver ~r~th
the uswl po~rers and duties of rece~vets in like c~ses; and s~id appointment shall be made by the eowt as ~ matter o( strict ri`ht to
~ the Mort~asee, anE r~thout reference to the ~dequacy a iasdeQuacy of the value ot the property hereby mortpsed. a to tAe ~olvency
~ cx insolrency ot iAe Mor[{a~as or any other psrty defcndant to sucA suit. 71~e Mor~{a~or hertAy spet~fically waives the r~eht to oA~ect
~ to tAt appo~otmen~ of a receiver •s aforesaid •nd hereby eipressly consents that such •ppointment shall be made as an adm~tted equ~ty
~ and ~s a ieacter o( ~bsolute ri~hl to the Mort~a~ee aeM th~t ~he same may be done ~ithout notice to the Morta„w.
~ Jf fevtclosure proceediop shoutQ be instiwted apinst the property eorered by th~s mort~~~e upon sny other I~m or claim whether
alle~ed to be supenor or ~mior to the lien of U?is morts~~e, the t~/ae~s~et may at his opuon ~mxdutely upon ~natitus~oe ot such su~~
~ or dunn~ ~Ae pendency thertof declare th~s mort~~~t •rtd the iedebtedness secured hereby due aad payable to?thWrth and may at ~t.
~ opt~oe proceed io faeclose N~s mortp~e.
~ (v Th~t ihc 14ottp~ot ~i11 keep all real and person~l propertr oor or hereatter enrumbered by the I~en of th~s mw.tp~e msured aa may
~ be reQuired tran ume to ume by the Mort~s{ec apmst loas by fire, v~nds~acm and otAer ha:ards, c~swlues and conun{encies for such ~
~ ptnods u~d tw not tess thae auch ~eaunts u ar bt reQuued by the Abrtp~te aed ta pay prowptly when due all preauwns fa such ~
~ msur~ace. TAe ~oe~+nta d ~eaurance requ~red by tbe Mort~~see shdl be tAe arimmum amounu fot ~rh~ch sa~d msur~nce shall be rnttrn .
~ aad ~t sh~ll Se ~ecu~beot rPon tht tilort~a~or to maintain such ~dditioe~l ins~rsnte ~s aNY ~ necess~ry to mett and comp{Y (ully Mith ~
n all co-~nswa~ce tequ~ree~ats conta~ned ir, s~id policies to We eod that the sa~d hlort~~~ot ~ is not ~ to-insuror thereunder.Inswance
~ sfiall be ~nttee bY ~ coa0~ay a caspan~es ~Ppo~ed a des~{nated by the Mottia~ee •nd ~11 pol~c~es and rene~als thereof sh~ll be helJ
~ by lhe Matp~ee. All deta~ied destemt~ans br tAe Mortj~{ot rh~ch are sttepted by the Alott~~~te and all sireemcnts bct~een Mort~~~w
~ and Mart~~~ec re:um~ ~o uuur~nce, no. esistin~ w here~(ter o~~de. shsil bc in rriqn~ and sh~l! be • part of iA~s reoct~a;e s~reement
~ u(ully •s tsou~h set forth rerb~t~m Eere~a and ahall ~orern both p~rt~es hereto ~nd the~t successots and ass~{ns. No hen upon ~ny of
~ sa~d pol~c~ei ot msurance « upoa anr refund a retu~n ~emiuei xAicA wy be payable on tAe c~ncellation a termin~5ion tAtreof, sh~ll
S be ~~ven to oiher ~han ihe Mort{s~ee, eacept Or proper endorseioent af(i}ed to such pol~cy and sporored by M«t~a~ee. F.~cA policy o(
~eivr~nce sA~ll ha~c •(f~aed therc~o s St~ndud Ne~ Yort f1orl~~~ee Clswe ~~thout Conu~buuon. mskin~ •11 loss or losses under ~uch
~ po~~cy p~yable to the 1Aort~~ee as ~ts ~n~erest may •pPssr. In the erent ~ny swn or suau of money becoas payable ~Aereunder the ~lort-
~ ~~~ee s6a11 h~ve iA~ upt~on to ~ece~ve and ~pply the i~se on ~ceount of the ~ndebtedness hereby secured, or ~o pene~t the ~4o:i~a~or
~ to rtca•e aed use ~t, a~ny p~rt tAcreof, .r~thou~ [berebY ~~iries or 1mpa~nn~ any eQu~ty, hen, or n~ht under and by vuiuc of tA~.
` sat~aae. In event of lo~~ a phys~cal damasc to the n~ort~~ae0 property t!?e Mat~~~a sA~ll ~ive ~mmed~~te not~ce thtrto( by ma~l t~~
~ the Nalia~ee an,3 ~h~ Mor~~s~ce maY nutt proof 1•,ti~ ~hOe ~me n t made prom tl • the \fur~E~~rx. In e~cm r+f i~stel~,sure,of
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~ BOOK PAGE
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