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PROVIDEn, ALWAYS, that if the \lortgagar shall.pay unto the !~loctgagee the indebtedness evidenced by a
certain promisso~y note of which the fallowing in wurds and figures is a tru~ ropy to-wit:
I I y~au~,~ '~e I ~
$ ~ 3SS~.00 _ i~liami, Flurid~ AuguSt 1~+__ ~q 71
FOR YAI.UF RECEI~'F. ) I promisc tu pay
to the o~der oi NAT FRI E~1qAN ~ TRUSTEE- _
the principal sum o[ Tt1re@ T~'10uS8II F1V@ HuR re F1 ty 811 NO 1 OLLAIt~, togctlicr Mith intrrr~t
thereon (rom date at the rate of ten percent, per annum until maturity, both principal and ioterest bcing payable in lawful moncy of
the United States ~t 22~kL Biscaync Bivd., ~liami, Florida, ur at such other place as the holdcrs hcrcof may dwignate in w~iting.
Principal and interest payable in in~tallments as follows:
Fifty Five ($55..00) Dollars per month, for sixty (60) consecutive months;
on the 15th day of each and every month, beginning on the lSth day of' ~
October, 1971, and continuing until the lSth day of October, 1976, at !
which time the balance shall become due and p~able.
This notemap bt prepaid in w~hole or in part after one ~•ear from the date hereof upon payment o[ a penalty equivalcnt
to ive peccent of the principal sum prepaid.
Each installment payment shall be credited first on /he interest due; and the remainder on principal; and interest ~hall t{~rre-
u n cease upon the principal so credited_
The maken and endorser~ of this note further aoRCe to wai~•e demand, notice of nun-payment and protcst, and in the event suit
shajl be brought for the collection hereof, ~r the ~mc has to be collected upon demand of an attorney, to pay rea;onablc attornry~'s
fees for making such collection. -
Ueferred payment~ hereunder shall brar interest at the rate oi ten pe~cent per annum from maturit}• until paid.
This note is secured by a mortgagc~of even date herewith and is to be construed and enforced according to tl~e laws of the
State of Flwida; upon default in the payment of principal and/or interest when due, the whole wm of principal and intere-t
remaining unpaid shall, at the option of the holdets, become immediatel • ue and payable.
, •
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= ~ ~ /J %i ~ - ` ' ' -S (SE AL)
t
e
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(SEAL)
Prepued by ~pieler d Tendrich, Attwneys - 2240 Bi~ca~•ne Bl~d., \liami, Flaida
and shall perform, compfy with and ab~de by tach and e~'ery the stipulations, agretments. conditions and cove-
nants of said promissor~~ note and of this deed, then~ttiis~deed and the estate thereby rreated shall cease and be
null and void. ~
l. The hlottgagor hereby covenants and agrees:
(a) To pay all and s~n`uiar the pr~n.~pal and ~nterest and ~t~r~ .um. u( mvncy p~~aolr h~ v~rtut said pnwn~ssory note and th~s
deed, or e~ther, pomptly or~ the days ~espeali«i~ the .ame .eterally h~:ome. due. ;
(b) To perm~t, c.xnmu or sutfer n~~ ~ra~te and to ma~ntein ~Ar ~mpru~emcnt+ at ell umcc ~n a state of go.xi rep~ir and cond~t~on, and to i
do ot-perm~~ to be dex~e lo sa~d prem~ses nothmE that w~~ll alter or chan6e the use and chac~c~er nf said {xoperty or m any aay ~mpa~t at
~ w~eaken the secunty of th~c mwtease_ And in case of the refusal, nestect or mab~tity of the Mort6aso~ [o repau and ma~nta~n said propet-
ty, ~he Mottp~ee msy, at h~s upuon, make wch repa~r~ ~x cau.~ the seme :o be made, and advance moneys ~n that behal(.
(c) ?o pay all and s~n~ular the uxes, assessments, !ev~cs, lub~l~t~es, and obGgatums of every nature on said described property esch
and everr vhen ,ue and payable accord~n~ tn la~, he(~re ?hey bscome delinQuc..~, and to de{~ver tu the Mort~a~ee on or before MarcA
ISth of eac~ year taa receipts e~~denc~n~ the pa).^•~ent n( all law~ully imposed iases ior thr prccedm~ calendar ye~r, to indemn~[y tht
M«t~a~ee upon dis demand for al! taxes, ~a+,ea~mcn~s and charsec ~hat m~y be assesscd upnn this mort~a~e on thc indebtedness s•-
~ cured htreby, and pa~d by 1he mortgagce, ~~thout rcRard tn any !r~ herctotore enacttd ~x herea(tei to he ertacted imposin~ ~ayioent of
~ the Whole or any ~art thereot upon the Alortgagee.
(d) To p~y all and stn6ular the cnst~, ~h~t6rs end expences, includ~ag lawyers' (ers and ahstract costs reason~bly ~neurred ~x pa~d at
~ any ume by thc Nat6aEee because of the faiiure on ~he part uf the ~t~~rtgagor ~o peeiorm, :omply ~~th and abide by each and every tht
supulaUOns, a6reements, condiuons and co~enants uf .aid pr~~m~ssury nott •mi th~s deed, or e~ther, and e~'ery~ sucA~paYment shall be~r
~n~erest (rae date at the rate o( trn 110"0) per .entum pce annum.
(e) It is further coveeaMed and asreed hy saed parhes ihat in the e~cnt of a su~t be~n6 inshtuted to (oreclose th~s mor~pae, the I11at-
Qa~ee s6a11 be entitled to apply at any e~me pend~n~ SUCA IO(tCIUSUIt .u~t to the cuur~ havm~ ~unsd~ct~on thereof ta the sppo~niment
o( a tectiver ot all and s~nrular the m~xtga~e3 propeety, and ot all rents, ~ncomes, proi~ts, ~ssues and revenues thertof, trom vhatsoe~er
~ sourct derrved; and theroupon tt is hercby expressly covenanted and agreed th,~t tht Court sha11 fotthr~th sppomt such recerver r•~th
lhe uswl porers snd duues of rece~cers in 6ke casec: aod sa~d appo~ntment shall be Rade by the eourt as a matter o( striet nfAt to
the Mat~a{ee, and ~vuhout rcference ~u the adeq~a.)' ue madequscy of tl~e ~alue of the oroperty hercby murtsa~ed, or to the solvency
or ~nsolveecy of the Mortp~ors o* any nther patty' defendanl to such su~t, The ~1nr~gago+ hcrc~) spcc~f~cally r•aiv~s the n~At to ob~ect
to the appointment o( a recerver as aforesud and herehv cxpre.sly :ons~nts that such appo~ntment shal! be made as ~n adm~tted equity ~
and as a mauer ol absolute nsht to the ~1or~gagee and that the .ame may 5r Jone wrth~~ut noUce to the Nort~aaor.
~ (f) It [oreclosure prexetdm{s shoutd be ~ns~~tuted agamst tht property .overed by th~s mortirge upon any uther lien or clum whether
~ alle~ed to be supenot or ~unior to the hen ot th~s mortgagc, the Murtgagee map at h~~ npuun ~mmed~a[e~y upun inshtuuon o( suth su~t
~ or durin~ the pendeney thereo( drelate this mortga6e and the ~~debtrdness .ecured hereby due and paYable t.uthwuh and may at ~ts
~ option proceed to [oreclose this mat~a~e.
5
That the Alortp~or will keep aU real and pcrs~~na! property nuw cx hueafter encumbered by the l~en of this mortra~e msured as may
~ be reqwred (rom ume to time by the Mortiogee a`a~nst loxs by t~re, w~nJ.~urm and othe~ haeards, c~sualue~ xnd ~onunEenc~es for sucA
~ penods and tor oot less than such amounts as may be requ~red Ay the Alortgager and to pa) promptly ~ahen due all prem~ums for sueh ,
msurance. The amounts of ~nsurance requ~red by the ~fougager shall he the m~nimum amounts fur wh~ch sa~d inswance shall be wnlten +
and rt shall be tncumbent upon the Mortgagor to marotam such add~honal ~nsurance as may be necessary to meet and comply (ully w~th
sll co-in~urance LLrequicsments contamed ~n said polic~es ~o the end that the ,atid ~lcxigagcx not a co-~nsuror thereunder.lnsurance ~
shall be wntten by a company or compan~es approve3 or des~gn~ted by thc 1~1wtQagee and all pol~cies and renewsls thereof shall bt held
by the I~Iwtp~ee. All detailed des~snauons by the A4o~tgagor v~hi~h are acccpted by the !1Sor~~aste and all aareements betveen Mortp~or
~ and Matsaste relaUns to ~nsurance, now e:istin6 or hereattcr made, shell be in ynhng and shall be a pat~ o( th~s mott{ase a~reement
as fully as thou6h set forth verbatim herem and sfiall gm'ern both parhec hereto and the~r successots and ass~{ns. I~fo lien upon any of
aaid policies of msurance or upon any refund or retum prem~um which may De payable on tbe cancellahon or ~ermmauon tAereof, shall
be {~vrn to othet than the Mort6a6ee, eacept Ay proper er?dorsement aft~aed to such pohcy and approved by Mort6s~ee. EacA po1~cY of
insuraoce shall have af(ixed theretu a Standard Ne~r Yoric ~Sort6agee Clause w~thout Contr~Aut~on, mak~n6 all Ioss cx losses under ~uch
~policy payable to tht Mort~asee as its ~nterest may ~ppear. In the event any sum or sums nf moncy becexne payable thereundet the Nort-
~a~ee ~ical) hare the opt?on to rece~ve and apply the s~me on account of the ~ndebtedness hereby secured, or to perm~t the ~IortgaRor
Io recdve and use it, or •ny part thereot, without thereby Maiv~ng ~K ~mpa~nng any eywty, l~en, or n`ht undrr and by vutue of this
mort~~{e. In event of loss ut physical damagc to the mo~~6agcd p:op~rty the ~lurtga6or shall E~ve ~mmed~ate nouce thereo( by rca~l t~~
lhe Mctl6s~ee and thc Mo~tgagee may makc proot of lo.. thr samc i~ not madc promptly b~~ the Vurtg~gor. Ih e~cnt ~ toce~lo~ure of
~ a~K ~95 P~~ 425 ~
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