HomeMy WebLinkAbout0736 PROVlDEn~ ALWAYS, that if the h1o~t~a~or shall pay unto the tilott~atee the iodeb/edness evide~ced by a ~
cettain promissoty note of which the followin~ in words and fi`ures is a truz copy to-w~it:
i I~,~t3/:
: ~ $ _ 17>QQ . 00 \liami. Flurid~--~e l~ =^;I s ~ ~'1 _ ~z--
7
' ~ E'UN VAl i'E: RECF:11'ED ~ c~;~--;,°;'- ~ = . . _ ~ 1„ promi.c tu pa~.
~ t~? th~ ord.~~ of ;i::P~tt~2Y V, kL~Z~F a.t2~ 1::~T:i~;:?~ J~ ~{i,:~
..~~_Y~~s lvi le _
; ~b~ p~~nc~pat ~um oE C~ne '~1I?OL2~:~::~ `.~~:^:~c? '•llri~~"~'{? .~Ol, ~v I)OI.I.r~R.~, tu~;rth~~ with intr~r.t
thKrror~ from date at the rate of ten percent, per annum until maturity, both principal and intrre.ct l,cing pay~dlr in lawful moncy uf
~ ti~r l:nited ~tates at '.'.'.'.~3 Bi~cayne Blvd., \liami, Florida, oc at 6uch othcc piace a.; the holdcra hcreof may dc,.ignatc in w~~lin~.
: Principal and interest payable in in~tallments as iollows:
I
~ '':.i,ty ?iv~ ( - ~".00) ~o114rs per ~.ont'- b
; - .i~ 4~in:~i :6 on t: a,;t : cu;; of
y .t~ril, y j?i., co:~~~nuin_; on tr.e z5th a~y of ~ac'.~ ~::~c every :~c :th
~ ~::er~::~~ar ;in~il in ~~:11.
.i
i Th~s note may be ~repaid in whote or in part after one year from the date hereof upon payment of a penalty equivalent
' t~ five per~ent of the priacePal snm prapaid.
F~rh in~tallment paynirnt shall be credited li~t on the interest due, and the remainder on principal; and intcre•t ~hall tl~rrr-
upon cra~ upun th~ pnncipal so credited.
Thr mak~n and rndor:era of this note [urther at,,,ree to waive demand, ~oticr of non•paymcnt and protest, and in the event suit ,
j .h~t~ br bruu;;ht foc the coll.:ction heteo[, or !he ~me has to be coUrcted upon demand o[ an attorney, to pay r~asonable attomey'~ '
frr. [ur making ~uch collrctiun.
Dtfen~d paymen4•.hc~eunder ~fiall beu intecest at the rate of ten percent p~~ annum Gom maturity until ~aid. '
~ 7'hic not~ is atcured by a mortgage~of even date hecewith and is to be consirued aRd enforceci aceording to tht lawa of the ~
~tate of Elorida; upon default in thep~ yment of principal and/or interest wh~n due, the whole sum of principat and intereat
rrmai~ing unpaid shall, at the option of the holders, become immediately due and payable, ,
~j~ ~ 1'J ~ v~ L ~ ~s~A~>
• '~'1, ~ ' . % .
i : ' ~i ' ~:.-y.~ (SEAL)
` Prepar~d by ~p~eler d Tendrich, Attorneys - 2240 Biacayne Blvd., ~iam~ Fl ,
and shail perform, comply wirh and abide by cach a~d every the stipulations, agreements, conditions and cove-
nants of said promissory note and of this deed, thcn this deed and the estate thcreby created shall ceasc and be
nult and void.
1. The Moctgagor hereby covena~ts and agrees:
(e) To pay all and s~nsulu the principal and interest and other swas of money payable by r~rtue ot said pranissory note and th?s
deed, or either, pomptly on tht dsys respectively the same severally becanes due.
(b) To penait, camit a sutter ao v~ste a~d to wsmuin the improvemeots at all times in a state o( ~ood repair and cond~hoo, snd to
do pr petoit to be done to s~id premises nothirt~ th~t w~ll alter or cAaa~e the use and cbaracter o( said pcoperty or ~n any Way impair or j
Wuten ehe securny of tAis matp~e. And ie case of the rc(usal, neslect or inability ot tbe Morta~sor to repair s~d mainta~n said proper-
ty, the Matp~ee eoay, at his opt~on, make such repairs or cause the same to be msde, and advance money~ io that behalt.
!c? To pay all and s~nsulu the taaes, asaessments, levies, liab~lities, and obliptions ot every nature on said described property each
and every vhen due and paYaDle accordin~ to larr, be[ae they become delinqutnt~ aod to deliver to the Mortsseee on or betore March
lSth of e~ch year tax receipt~ evidencinj tht paymen[ of all lawfully ~mposed t~aes for.the precedin~ qlendar year, to ~ndemn~fy the
Mort~a~ee upoe Ais demand tot all t~ies, assessments and char~es that may be assessed upon tAis mort~a~e on the iodebtedness s•-
cu~ed Atreby, and psid Dy tAe maitsasee, rrithout re~tard to sny tar heretofore en~cted or hereatter to be eeacted imposins aayment of
the ,vhole or any ~.srt tAereot upon the t?lort~agee. i
(d) To psy all and ~in~u)ar the costs, charses and eapcnses, iocludios lawyers' fees and abstnct cosu reasooably mcurred or pa~d a~ ~
any t~me by tbe Matastee because of the f~~lure on the part of the Mortsa~or to perfam, comply +rith and ab~de by each and every the ~
st~pulat~ans. a~eements, cond~t~ons and corenants o( sa~d promiasory note and th~s deed, or eitber, aod every such'paymenc shall bear {
~nterest trom date at the rate of ten UO'L) per centum per annum.
(e1 It is further corenanted ~od a{reed by said p~rt~es that ~n tAe erent o[ a~ui[ ~eios instituted to foreclose this mort~aae, the Ma~- ~
~a~ee sAa11 be enUtled to apply at any time pend~n~ such toreclosure suit to the court hsv~n~ jurisdict~on tl?ercof (or the appo~ntment
ot ~ receiver ot a!1 and siruular tht mortsased ptoperty, and ot sll teets, incames, ptofits, iasuea and reveeues thereot, from `~hatsxver
source derived; aed Weteupoo it ia Aereby expresaly coven~nted aad •~teed th~t the Court shall torthvitA appomt such rece~ver r~~h
the uswl po~rera and duties of receirers in like cases; and a~id appointa~ent sdalt be made by tht cowt :s a matter ot strict rijht to
the Ma~jasee, and witAout reference to tde adequacy or ~nadequacy o( the v~tue of the property hereby mort~a~ed, or to ~he solvency
a insolreney o! the Morts~~ors or •ny other party detendant to such suit. The Mortsa~a hereby spec~tically ~raires the r~sht to ob~ect
to the sppo~ntment of a receivsr as •foresa~d and hereby eapressly consents ihat such appointment shall be msde as an adm~tted equ~ty
and as a matter ot absolute riiht to the blortp~ee and ih~t tAe saroe inay be done wnt6out notice to the Mort~a~or.
(t) If faeclosure proceediap should be in:tituted asainst the property co~ered by this mort~a~e upon any other I~en a claim Whether
alle~ed to be superior a juniot to the lien of tb~s mort~ast. the ?Iat~a~ee may at his opt~oo immedutelY upon ~nstitut~on of such su~t
a durm~ the pendency thereof dedare th~s mort~a~e and the indeD~edneas secured hereby duc and psy~ble («thw~th and maY ~1+
oD~~~ O~aeed to foreclose tb~s mart~aae.
(v ll~~t the Mortp~or wrill keep all real ~nd personal p~operty no~ or hereaf~er encursbered by ide I~ee of th~s m«t~a`e ~nsu~ed as may
be required trom tiae to time by tbe Morts~~ee a{~~n~t loss by fi~e, w~ndstarm and other A~zards, c~sualues and contin`enc~es (ur such
per~ods and ip not leas [bia auch amounts ~i may be reQuued by the Mort~~~ee aad to p~y proanptly rhen due all prem~ums (or such
~nsurance, The aa~ouou o( iosut~Me required by tbe Mort~a~ee shall be the mm~mum amouo~s for ~h~ch sa~d insurance shall be ar~tlcn
and it shal! be ~ncumbent upon the Mortp~ar to ~aamtam such addu~onal ~nsur~nce as may be necessary to meet snd comply fulty ~itA
•11 co-insurance reau~rements eont~~ned in sa~d pol~cies to the eod that ~ht said Mort~s~a ~s not a co-insuror thoreunder.In~urance
s6~11 be wr~ttee by ~ conpaay or compan~es approred a desi~n~ted by the Mort=a~ee and L11 policies and reaevr~ls thereof sAall be hetd
bY the Alatp~ee. All de4~led desi~natioas by tAt Mort~~~or vh~ch a?e accepted by the Lfwtaajee and ~11 asreemeets between Mort~asor
and Mortiasee rel~t~ns to insuranct, aor eaut~n~ or herea(ter made, ahall be in ~rtit~e~ and s~~ll be a put ot tAis mort~a~e •~reeme~s
si (ully ¦s thou~h set latd rerbatiia herein and shalt ~orern both p~rties hertto ~ed the~r successors aad ~ss~~ns. No I~en upon any ot
sa~d policits af ~nsurante a upon any relund or retwn premiwe ~hich isay be p~y~ble on the c~nctll~t~oa a ~erm~nation tAtreof, .hall
be ~~ven to o[Aer than tbe Yprt~~~ce. e~cept bY proper endorsustnt ~tfiatd to such pol~cy snd approved by Mort~atee. Each pol~c) o(
~niuraece ahall have attiaed thereto ~ Stsnd~rd New~ Yak t~iott~~~ee Cl~use rr~tho~t Contnbu[~on, m~k~n~ all loss w fosse+ unJer ~ucA
policY D~YaD}e 1a Ibe A1wt~fte •s its ~nte~eit m~y apye~r. lA the event ~ay swn or sums ot moneY ~ecome payable ~hereunder the ~tort-
~a~ee a6a11 hwe U?e opt~oe~ to rece~re ard •pply tl~t s~ot on ~ccouni o( tbe ~adeEeedness hercby secured, or to pern~t the ~tor~~aFa~ ?
to receive and use a•ny p~rt tAereo(, rithout thete?y raiv~ns ar ~mp~~ru~ ~ay eQu~ty, l~en, a r~sAt under and by vuiue ot tAi. ~
morts~~c. In event of los• cx phYaic~l dan?a~e to tAe sott~~~ed ptoperty the Mortp{o~ sh~ll ~~ve imn+edute nohce tAerco( by ~a+l i~~
the Mat~a~ee and the Mort~a~et auy
+_nake poo( nt losa ~f ~he ~ame ~s not made p~omptl~ 4y tht Nort~a~a. In e.ent o( furc~l~~.ure ~.f
` . k 190 733 ~ .
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