HomeMy WebLinkAbout3001 PROVIOEiI, AI.MrAY8, tA~1 ~t the M~xyyat slull pay ~to t~e INort~a~ee tl~e ~wdestcdae~s ev~dcwred h> a
ceruin ptau~aso~y aote c+( wh~ch tAs tollow~~~ i~ woeds aAd f~~wes ~s • tr~e cq+y to-M~~
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therr.?n trorn d~te at the rate of trn~pcrcrnt, per annnm uatit maturit , both ~~a~~ ~"~~h~r v~~th intc~rrt
+ thr L'mted ~tatcs at Bi,caynt Blyd.. ~liami. Florida, or at wcA othcr plact as tlse`!wldcrs~hereolamay dtc~.igruk'in ~rtitinR,
~ I' Pnnripal and intcrcst payable in in~tallment, ar follows:
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~ Th?s note may bo prepaid in who;e ot in part ~after one yaar from the datc hcreof upan paymenc of a penzicy equivalenc
~ to f~ve percent ot the principai sum prepaid.
Each inrtallment pay~rient ~hall be credited fitst o~ the interest due, and ihe rtmairedcr o~ principaJ; and inte~rst ~ll the~r-•
i ~ upon ceaar upun the principal so credited.
The make~ and endo~rs of this ~ote fucther agre~ to waive demand, notice of nore-~?ayment and pmtest. uid in the eve~t wit
~ ~t~all br brou~ht for the coltection hereof, or the same has to be coltected upon demand o[ u? attorney~ to pay reuonab(e attotnh,'s
fr~~ Eor making such collcction.
Defe~red payments heoeunder shall bear inteoest at the rate of te~ pe~cent per annum irom rpaturity until paid. •
7'his note 'is secured by a mortgage~of even date herewith~nd is to 6e con;trued and enforced according to the laws of the -
~tate of Florida; upon default in the payment of principal and/or interest when due, the whde sum of ci and inte ~
~ t remaining unpaid shal{, at the option of the holde~s, become imtnediately due an~,psYible, ~ , ~
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~ Rcpired by Spieler & Trndrich, Attorneya _ 224p gitayne g1vd., Miami, F ~ , {SE+1L)
and shall pedam. comply with and abjde by each and every the stipulatioas. aareemeats. canditions and cov~-
nants of said promissory note and of this deed. then this deed and the estate thereby created shall cease aod be
null and void.
1. The Mort~a~or hereby covenants and ascees: -
To p~y sll and sin~ul~r the. prineipal aod interest aad othsr srss ot .o~r wr•ete by vinue ot said pro~issory oote aed ~is ~
deed, or eitber, proeptly w We days respeetively tbe saee urersllr beca~es due.
(b) To peneit, co~it or sdfer ao r:aie a.nd to wl0[~lA [IIC isprove~eats ae alf ti~es ia a state ot ~ood repa~r aad cowd~tioa, aad to
do pr per~it to be done to said p~e~ises aothin~ tbat .~u or chaase ~e ose aoa ~a.raccu ot s.~a ~ooer~y «~e a'r •~r ~•~•u a ~
reaken the securitr ot tbia soct~e. Aed in cue of t6e refasal, eeslcct ar iasbiiitp d We Morttstor to reair asd ~sieuie u~d oroyer-
ty, the Llwi~a~te may. st bia opt~ow. ~ke aucs repaits a~ cause ttie saee to be rde. sed ad~a~ce ~o~ers u tAat behalt.
(c) To Qay all and sinsul~r the ts:es. ~ssessment~, levies. liabilities. aod obliaatiooa ot evcri astare uw said desuibed propertY eacA
and ererr ~r4ea due sed psr~ble accordia~ to la~, befare thcr Sece~e delip~tat~ s~d to deli~er w tie Mlort~ssee m or before M~rc~
i5ih ot each yeu tai receip:s evideeciaa tAe p~yment ot sll la~tullr i~posed tues for.tUe pcecedi~ caleeda reu; to i~dcMifr t~e
Mo?t{asee upon Ais de~asd [a all ta:es. useasmcnts aed char~ea tMt s~r be usased spo~ tYis ~ore~ase o~ ~be iadebtcdsess s•-
cured hereep, aed Mid br the ~tpsee, ~rithont retard to aey la~ Aereto[ae ee~cted a~aesfttr co De ea~eted i~rwias pywca d
thc rhole or aay tirt tAaeof ~poe tAe Yortsa~te, i
(d) ro p.r alt and sia~u~u t6e costs. chsrses aad espcoses. ioelod~es la~ers' (ets aed ~bstr~ct eosts tessanablr iscared ur paid at
any tiae by tAe i~lortpsee because ot the f~il4ce oa the prrt of tAe Mottµ~ot to ptda~. co~ly w~d~ aed aMdt Ay e~ch sed erery tbe
etipuiations, a~reeseats, coeditions aad covewots ot s~id prasissory note aad Wis deed. ot eitler, aed ererr snc~~pay~e~t sYall beu
~oterest fro~ date at U?e r~te ot ten U~'i) pe~ ceatu~ pcr annum. ~
(e) It ia tor~lut coven~atod ~nd a~reed by said puties tbat in the eveat o( a s~cit beia~ iastitYted [o toreclose this war~c. d+e Yort-
{a~ee sh~ll be eatit{ed W applr at aup tiwe oesdies suc? torecloaure srit w tbe court h~vio~ jirisdict~m tbereof ta tLe apoouteest
of a recei~er o( all and sin~alu the ~ortaa~ed pcopertr, aed ot al! reats, iecaves. pr~q. iis~es aad re~eares tYered, tro~ ~Aatsocrer
aource dcri~ed: ~sd tl~sreoyoe it is he~tby eap~esslr coreaaAted aad asreeA d~t t1e Cosrt s4s11 torlh~it? appout srci rece~~er ~~tA
tAe wwl pwers aod duties ot receiven ia lite eues: asd said ~poo~nt~eat shall be ~ale bp the coart as s~tter ot stric~ n~lt ~o
the Mortqsee, aad rit~t reletence to tbe adsaoacr a insdeaaacy of ine ••tne of ~e p~oyenr Deresr ~or~ed. or to tAe sol•eacy
«»o~.~e~y ot en~ ?i«esas«s or .er oa~a par~y deteadan~ eo soc~ sw~. 7Le Marqs~or 6erebp specitically wai•es We r~~ei ~o ob~ec~
[o t6e •ppoietmeet of ~ receirer as afores~id sod hereby e:preulY soaseets tiat saea aoyoi~o~es~ sAal) be Mde as ~a ~itted eaaity
•nd as a s~atter o! absol~te risht to the Matassec sad that the sa~e yr be doae s~~t eotice to ~e lilo~tia~or. ,
(f) It (orectoaure poceedinp abould be instituted apiest dee prooerty covered br tlis ~atpse upos asr otAtr liea or cla~~ rhetAer
s11e~e0 to be superiot ot jmior to t~ liea of tAis aort{a~e. tAe Yottsa~ee ~ay at Ais oPtiaa i~e.d~attlr opoa ~ost~teum.of s~cA ss~t
ar darin~ ffie peadencr thereot declsre t6fs more~ase ~ed ~Ae iedebteda~ss sa~red 6peb~ dre a~d Psy~blt (ott6rq~ ssd ~ay at ~ts
oPtioa p~oceed to (oreclose this scrt~a
'ILat tbe Yortaa{pr ~rill kceP al! re~l u~d persoeal property ao~ or hetesfter eac~btred ?r tYe l~ea ot tl~is ~t~s~e usored u waY
be reqnired (row ti~e to ti~e bp die Mort~s{ee yaiast loss br (ue. ~r~adston~ sad aier 6atards. c~swlues asd cmtas~cnc~es (w s~ch
per?ads uW for not ksa tMu sucA a~ots u~ar be reau~red br ~be Yoryssee ..a io ~rr nro.~~r ~1ea dae al! pres~~as (or srcA
insaraece. Ths ~~o~ta of i~srraoCe rea~irtA bp t~e Mort~~ec sA~ll Ae We siaiw a~owus fo~ a~~~cA sa~d ~os~raace sAall be ~rrutes
aed it sb~ll bt iecu~bent rpon We Mort~a{a~ to aiaqie ~acA ~ddiuoosl iesYnpce u ~u7 be necessary W~tet awd co~ply (rllr ~~ts
•11 co-ias~ance reqaireeeats coata~wed in said oolicies to tke e~d Nut d?e sa,d Martaa~ut ~s oot a co-~~s~ror ~dereroder.lssarawce
aball se ~r~ttee bp ~ co~ay or co~nies aypto~td or des~patul br tYt Yart~a~se aad atl yoGc~es a~d reee~rals tAe~eot srall 6e ~c(d
by ~Le Mo~tia~ee. All de4iled Aesi~aat~oas br tie Ye~taa~or ~rhich ue scceoted Ar t~e Yae~a~ee aad a!! a~reescets be~seca lilortia~or
and MwWjee relatiai to isi~r~ece. ao~ e:istia~ or hers~[ter ~ade. s?all be iu ~rtitia~ aed sUall be a Part of t6~s ~ortp~e a~?ec~cas
u(~Ily ~s VousR set ta~! ~erb~ti~ baeia ~sd siall ~oncre Sod~ Ostties Aereto sod t~eir srcccssars ~d us~ps. No fien roon ~wr or
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s~id oolicies of ies~n~sce or Ypa~ aq re(wr/ or retarn orasi~ rMich ..y ie o.rs?~e m u~ c,.cei~auow ar k~a.a•uow ~~or, sball
be airea to otber thaa tAc 11or~ee. easeot ~r ~ro~er e~dorse~e~t dtiad to sncA ool~cy aed aprored ?r Mar~ce. EscA pol~cy ot
inair~sce aball 6~re a(C:sd tMereto ~ St~edard Ne~ Yort Morya~se Cl~rse .nYert CMtribnuo~. *skis~ alt loss ar iosses rwder sucA
oolicr p~Y~ste to the Mart~a~se ~s its ioterest yr a~su. U tbt erqt a~ aas ot s~s ot ~oaer Asca~s r~asle ~h~erc~edcr Ux ~Wri-
~~see siall ly~e tMe oPtiaa to rece~~e s~d iplr tMe sa~e as ~ccawt d t~e wdsbts8~ess ~ere?~r ascQN. or to oeti~t Oe ~Iort~aRor
to receire ~~d we ~t, a~~y part ~Yereol. ~it?oW 1Yereir ~~i~i~ ar wyaui~ ur e~~cr. I~ee, or n~Yt ~adcr and ~y v~rt~re of W,~
wort~s~t. M e~swt d lo~s or ,Yrsisal dayje to t4 ~ott~epd oreOerq die 11ortN~a sMal) ~~~t t~solNtt sol~ct Mertof by Ts~l i~~
tbt Motyap} and tAe Nort~a~ee rr ~ate proof of loss ~t tAt sa~t ~s ao1 tide pa~tly br tA~lAort~aiar. la ercnt ot tore~l~~we of
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