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HomeMy WebLinkAbout0422 PROVIDEn, ALWAYS, that if the Mortgagor shall pay unto the 4lortgagec the indebtedness evidenced by a ce~tain promissory note of which the [ollowing in words and figures is a true capy ta-wit: ' i~zo~cga~jc i~ou g 2550 ~ 00 , ~liami, Floridz ~ugus t 14 iq 71 ~ l~~ ' Fl)K ~':U~'~~"r5~~~.~~sT-~~N-W~~~!i]`i-tS~itfia-~~~ ~rT.f~~r-~~-- P~omi~e tu pa~ t~~tli~ urdrr uf thr princi~~al sum of ~O T ousan V@ llri re l~t)1 8II O pQLLARS, together with interr~t tl~r~run fro~n date at thr ~ate o[ trn percent, per an~um until maturity, both principal and interest being payable in lawfu) money u(S tl~r ~nited ~tates ~t '?.2-~1 Bi..cayne Blvd., \liami, Flo~ida, or at such othe~ place as the holders hereof may desigoate in w~itinK. Principal and interc~t payable i~ installments ss follows: Thirty Five ($35.00) Dollars per month, for sixCy (60) consecutive months; on the 15th da'~r of each and every month, beginning on the 15th day of October, 1971, and continuing until the 15th day of October, 1976, at which time the balance shall become due and payable. This note may be prepaid in whole or in part after one year from the date hereof upon payment of a penalty equivalent ~u five percent o[ the principal sum prepaid. ~ Eych installment payment shall be credited Crst on the i~terest due, and the remainder on principal; and interest shall the~r- uEwn ceasr upun the pr~ncipal so credited. 3 The make~ and r.ndorse~ of thu note further agree to waive demand, notice of non payment and protest, and in the event suit ~I~all br bruught [or tlie cotlection hereoi, or the same ha~ to be collected upon demand of an attomey, to pay reasonable attomey's frr. fur making ~uch collection. D~krred payments herrunde~ shall bear interest at the rate of ten percent per annum from maturity until paid. 7'his note is secured by a mortgage of even date herewith and is to be construed and enforced according to the laws of the ~tat~ of Ftorida; upon default in the payment of principal andlor interest when due, the whole sum of principal and interest ~maining unpaid shall, al the opNon of the holders, become immediately due and payaWe. E? s t' , lf • ~ ~ •7 << c'" (SEAL) ~ ~ ~ - ~ (SEAL) red b S ieler & Tendtich, Attorneys - 2240 Bixayne Blvd., 111iami, Fldida ~ Prep+ Y P anJ ~hall perform, comply w~th and abide by each and every the stipulations, agreements, conditions and cove- nants uf said promissor~~ note and of this deed, theP this deed and the estate thereby created shall cease and be null and ~oid. 1. The Mortgagor hereby covenants and agrees: (a) To pay all and s~ngular the prmc~pal and ~ntetest and other sumc ot money payable b) v~rtut o! sa~d promisswy nute and Lh~s deed, or either, promptly on [he days tespecu~ely the .amt sevenlly becomes due. (b) To permit, comm~t or sutter no waste aad to mamuin the improvements at all umes in a state of sood rcpau and cond~t~on, and to_ do oc permu to be dcxu to said prem~ses nothm6 that w•~11 alter or chan6e the use and chatacter o( sa~d property or ~n any way ~mpait or weaken the secunty of this m~xt~ase. And in case of thc re(usal, neglect or ~nabihty of the Mort6a~or to repair and mainia~n said proper- i ty, the Alortp6ee may, at his opt~on, make such repa~rs or cause the same co be made, and advanct moneYs in that behait. i i (c) To pay all and a~n6ulu the taaes, assessments, lev~es, I~abilities, and obli~ations of every nature on said described propecty each ' and every •rrhen due and payable accord~n6 to law, before they become delinquc..t, and to deliver to the Mort6asee o~ w before March ~ lSth ot each year tax receip~s evidencin6 the payment of all lar~fully imposed t~ies for the precedins calend~r year; to indemn~ty the € ~fort~a~ee upon his demand for alltaxes, acsestments and char6es that may be aasessed upon th~s mort~age on the indebtedness s•- curcd hereby, and pa~d by the mott~asee, ~ithou~ regard to any law hereto(ore enacted or hereafter to be en~cted imposins ?ayment ot the whole or any ~art thereo( upon the \1ort6a6ee. (d) To pay aIl and s~nEular the cos~s, cAar6es and exprnses, includ~n~ law~yers' fees and abstracl costs teasopably ~ncutred or paid at any hme by the M.xtgaaee because of the fa~lurc on the part ot the AturtEa`or to perform, comply with and abide by each and eyery the st~pulat~ons, asreements, cond~tions and covenants of sa~d prom~ssory note and tA~s deed, or either, rnd every such'p~ymen[ shall bear ~nterest (tom date at the nte of tcn 110°Gl per .entum per annum. ~ ~ (e) It is turther covenanted and a6reed by said part~es that in the e~ent o( a suit be~~a inat~tuted to foreclose th~s mort~ase, the Mat- p~ee shall be entitled to apply at any teme pending sueh toreclosure suit to the court hav~os jurisd~cuon thereot for the appo~ntment of a receiver ot all and sinsulai the mortga6ed propeny, and of all rents, ~ncomes, profits, issues and revenues thereot, from w•hatsoever ~ source derived; and thercupon ~t is hereby expresslY covenanted and a~reed that the Court shall (orthwith •ppoint such receiver vith the usual powers and dut~es of receivers m like uses; and said appomtment shall be made by the court as a matter of strict riaht to the Mort~atee, and without reference to the adequac7 or ~nadequacy of [he value ot the property hereby mort~ased, oc to the sofvency ~ or ~nsolvency ot ihe ?1ort6asac or any other par~y defendart to such suit. The Mortsa~or hereby specitically w•aives the r~ght to ob~ect to the appointment of a rece~ver as atoresaid and hereby exprecsly consents that such appo~ntment shall be made as an adm~tted equ~ty ~ and as a matter ot absolote right to the Morteaaee and that the samc may be Jonc ~r~thout notice to the Mort`aaor. If (oreclosure proceed~nas should be instituted asainst the ptoperty cuvered by this mott`a~e upon any other lien or claim whether ~ alle~ed to be supenor or ~unior to the Gen of this mortgase, the Mortga6te may at h~s opt~on ~mmed~atcly upon instiwt~on at such suu ~ or dunn~ the pendency thereo[ declsrc th~s mort6a6e and the indebtedness secured hereby due and payable forthWith and may at ~ts ~ opt~on proceed to toreclose Nis rtrortea6e. ~ Thst the Mortp~or will teep ~It real and persooal property nov or hereafter encumDered by the Ilen ot this mRrtgase ~nsured as may be required (ran time to time by the Mort6a6ee a~amst loss by (ue, w~ndstam and other hazards, casualues and conhnaenc~es for such periods and ior not less than such amounts as may be requ~red by the Mort~a~ee and to pay promptl~• when Jue all premiums fa such msurance. The amounts of in~urance reqwred by the Mortaa6ee shall hc the mm~mum amounts fex wh~ch sa~d msu~ance shall be Mntten and it sh~ll be incumbept upon the Mor:~aaor to m~inta~n such addiUonal ~osurance as may be necessary to meet and comp{y (ully w~th all co-insurance requirements conta~ned in said polieies to the end that the sa~d Mat6agor ~s not a co.~nsuror thereunder.lnsurance shall be wntten by a company or companies approved or des~gnated by the Mortsa~ee and all pol~cies a~d renewals thereof shall be held by the Matpgee. All detailed desisnations by the Mort6agor rh~ch are accepted by the Mortga6ee and all asreements between Mort~a6or and Mort~a~ee relatin6 to insurance, now existin6 or herea(ter made, shall be in w•riting and shall be a part ot this matgage a`reement as fully as though set forth rerbat~m herein and shall sovtrn both parties hereto and their successors and ass~gns. No lien upon any ot said polieies ot insurance or upon any refund or return prem~um which may be payablc on tAe c~ncellahon or term~nation thereof, shall be siven to other thsn the Mort6~6ee. except by proper endorsement affi:ed to such policy and approved by Mortgaeee. F_ach pol~cy of inaunnce shall have rftixed theroto a Standard New York Mort6a6te Clause ~•~thout Concnbut~on, makin6 all loss rx losses unJer such policy psyable to the Mort~a~ee as its intecest may appear. In the event any sum or sums ot money become payable thrreunder the Nort- sa~ee shall have tAe option to receive and apply the same on account of the ~ndebtedness hereby secured, or to perm~t the ~1ortEapor to rec~ive and~ use ~t, or any part thereof, without thereby M•aivins or impa~nn~ any equ~ty, lien, or nsht under and by vuwe of ~h~. mottqje, In everil of loss or phYsical Eamage to the mott6ased ptoperty the Mortga6or shall (trve ~mmed~rte nohcr thtreof by ;ra+l tu tht Malsasee and the NortEa6ee may make p*ou( nf loss the same ~s not made promptly by the \tortgagor. In event nf torc~lnwre of BO~K~~7~ PACE - _ - - - _ ..:_,``-y .