HomeMy WebLinkAbout1578 PROVIDEfI, ALWAYS. that i( the \tort~a~or shall pay unto the \1ort~a~ee the ~nd~htedness evidenced by a
certain ptom~ssory note of which the foilowin~ in words and fi`ures ~s a true copy to•v?~t
~~~Co~tqag~ ~~ot~ ?
s_ 2, 475 . 00 November 20 19 71
Miami, Florida
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to the order of~~~,~~~_
`1~~~~~~~-~
:~H ~ romise to pa~•
the principal ~um of 1~ao__Thousand Four Hundred Seven~TFive and11~° .L:\R~, tugether with interr-~
thereun from date at the rate of ten percent, per annum unti) maturity, both principa) and inte~est be~ing payable in lawful mone~• of
the United 5tates at Bi..cayne Rlvd., ~liami. Florida, or at such other place u the holders hereof may designate in writing.
F'rincipa) and interest payable in installmcnts ~[ullows:
Sixty ($60.00) Dollars per month, bzginning on the lSth day of
January, 1972, and continuing on the lSth day of each and every
month thereafter until paid in full.
Tbis note mav be prepaid in whole or in part after one year from the date hereof upon pavmant of a penalty equivalent
to five percent of the pnncipal sum prepaid.
~ Each installment pa~•ment ~haU be ~~mditrd Crst on the interest due, and the remainder on principal; and interest shal) there-
upon cease upon thr principnl w crrdited.
The make~s and endonen of thi. note further aoree to waive demand. notice of non-payment and prote~t, and in the ~vent wit
~hall be brought !or thr collection hPrrof, ur the same hz~ to be cullected upon demand of an atturney, to pay reasonable attorne}•~~
fre. for making such collection.
~ Deferted payments h~rwunder shall bear interr;t at the rate of ten percent per annum from maturih• until paid.
~ This note is securcd by a mort{~aKe of even ~1ate herewith and is to be construed and enforced ~accordin~ to thc laws of the
~tate of Florida; upon default in the pa~~ment of principal and/o~ interest wh~n due, the whole ~um of principal and inteKSt
. ~ rcmaining unpaid shall, at the option of tht holders, become immediately d e and payable.
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; Prepared by Spieler & Tendrich. Attorneys - 22-W Riscayne Blvd., tiliami, Flarida ~5~1')
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F ar~d shall per(orm. comply w~th-and ab~de by each and every the stipulations, agrecments, cond~tions ar~d cove-
~ nants uf said prom~ssory note and of this deed, then this deed and the estate thereby created shall cease and be
~ null and vo~d.
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~ 1. The !Nort`agor hercby cuvenants and agrees:
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1~) To pay all and ~in~ul~r the pr~nc~psl and ~necrest and other sums of money payable by r~rtue o( sa~d prom~ssory note and this
~ deed, or euhtr. pomptly un the days respec~~.ely ~Ae same se~eeally becomes due.
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Ih) To perm~t, camm~~ a sut(er no Waate a~d to ma~nu~n ~hc ~mprovements at •11 umes in a sute of ~ood repair and cond~UOn, and ~o
do or perm~t to be done to sa~d prem~ses noth~n~ that w~ll alter or chan{t the uie •nd cA~r~cter ot sa~d property or ~n any rray ~eep~~r or
re~ten the secun~y o( this miut~~~c. ~nd m casc o( the ro(usal, ne~lect or mability ot the Mort~~~or to repa~r and mamt~~n a~id proper.
~ ty, ~Ae Mart~a~ee may, at h~s opuon, make auch repaus or cause the same to be m~de, and advance moneys m that beh~l(.
1c) To pay all and ~~n~ular the t~aes, asatssments, Icv~es. I~ab~l~tiea, and obti{~uons of every n~ture on sa~d described property e~ch
and every WAen d~e and psyable accordin~ to 1~., be(ore they pecome Ael~nquent, ~nd to deliver to the Mort~a~ee on or Ae(ae M~rch
' 1SiA of e~ch year us rece~pts ev~de~cini ~he ps>ment o( •11 lavfully ~mposed tues for the precedmR e~tendar Yeu: to ~ndemm(y Ue
- Mat~~~ee upon h~s dem~nd (w all ta~ces, ssses~ments and char~es that m~y =r assessed upon th~s mort~a~e on the ~ndebtedness s•-
cured Aae~y, and paid by the matp~ee, w~thout re~ard to ¦ny 1~+~ heretofore en~cted or hereifter to be enacted ~mpu~m~ ~~yenent of
thr •rhole or an> ~ar[ therco( upon the Mor~es~ee.
,y (dl To p~y al{ and ~~n~ular the costs, cAar~es •nd eepenses, includ?n~ l~~ryera' fees and ab~u~ct costs reasonably incurred or pud st
any t~mt by ~Ae Mw~~a~te because of the t~~lure on the part of the Mort~a~ot to petfam, comply r~~th and ab~de by e~ch ~nd every the
~ ~t~pulat~oas. •{reemen~s, cond~t~ons and coren~nts o( said promtssory note ~nd th~s deed, or e~thet, and e~ety such'payment shall beu
~eteres? (ran d~te st the r~~e of ten UO~.) per centum per annum. •
(e) It u futU+er coven~nted ~nd a{reed by •ud p~rues th~t ~o the event of a swt bun~ ~nat~tuted ~o (oreclose th~a mott~~~e. ~he Mort-
_ p{ee sh~Il be enatled to •pply •t any ~imt pendin~ auch foreclosure su~t to the court hWm~ juri~d~cuon thercof for the ~ppo~mment
- ot ~ rece~ver of ~II and ain~ular tAe n+wt~s{cd property, snd ot ~11 rents, ~ncoenes. profita, isiues ~nd revenues thereof, froe +~A~tsoe~er
_ source denved: and thereupon it is hereby e:presslr coven~nted •nd ~sreed th~t the Court sA~ll torth~rid? ~ppoint suth rete~rtt.~r~th
' iAe usual porre~s snd duuer of receiver• ~n like c~ses: •nd s~~d ~ppo~nte~ent sh~ll be made by the court ss ~ matter of atnct ri~At ~o
the Mat~~~ee, ~nd .~~thout reference to the ~deQu~cy w in~deau~cy o( the v~lue of the property herebr mott~s~ed, or to the eolvency
or ~niolrencY of tAe Mort~~tw¦ or anr other p~rty dc(end~nt to ~uch su~t. The Mortp~or hercbr apccd~eally vairea U~c n~ht ~o ob~ec!
~o the appoiatmen~ of ~ receiver •s atoresaid •nd Acreby eapressly conseet~ td~t such •ppo~ntment shall be made •s an admitted eQu~ty
= •nd • mattcr o( ~seolutc n~ht to ehe A1ort~a~cc and th~t tAt ~ame may be doae ~~thout not~ce to tAe Mort~~~or.
(f) Jf foreclosure proceed~n~a should be ~nst~tuted •{~init the propertr tovered by lh~s nart~~st upon any other Iien w cla~m WhetAer
- ~Ile~ed to be supenor o~ ~unior to tht I~en of thii matta~~t. the I~lott{~~et maY at his opUOn ~mmtduteiy upon ~nsGtuuon of sutA su~t
a durin~ Ue pendency tAereof dechre tAis mat~aac ~nd ~he ~ndebtedncss secured hertby due ~nd p~y~ble torth~~th and m~y at ~ts
opt~on prxted ~o faeclore this matp~e. ,
_ Th~t tA~ Matp~or rill k~ep all rcal and personal proper~y no~ or herestter encumbered by ~he lun of thu mort~a~e insured ~s may
~e requued froe~ da~e to hine by the Mort~~{ee a~unst los~ by hre, r•~nds~orm ~nd other ha:uds, c~sualt~es and conun~enc~es for such
_ per~od~ •nd ~or not lei~ th~n sucA ~enoun~~ a~ ~~f be rsauued by the MortN~ee •nd to p~y pranptly Mhen due ~11 prem~ums for suc~ ~
~nsurance. The amounu of ~n~ur~nce reqwr ~y tAe AAort~~~ee sA~ll be the m?mmum ~mounts for Mh~ch s~~d msur~nce sAsll be wntten ~
•nd ~t ah~ll be ~neua~Eent upon Ne Mort~~{or ~~ntun such ~ddiuoe?~1 ~nsur~nce •s may be necessary to meet ~nd comply fully ~~th
~11 co-~naur~nce ~equiresents con~~~ned in I~cu~ to the ead th~t the sa~d Mort{~~ot is not a co-~na~ror tAereunder.ln~ur~nce
~A~II be .ntten by ~ coeP~nr or comp~n~e~ •opr~ved w desi~n~ted by the Mare{a~ee •nd ~11 pol~aes and rene+r~ls thereot sA~ll De he1J j
= by ~he Ma~{a~ce. All dcqiled dcs~~n~t~ons by tYe Alort~~~a ~rh~ch ~re sccepted by ~he Ulortp{ee and all a~reements bet~reen Mort~a~or ?
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= se~d Mwt~~{ee rel~un~ lo insw~nce, now saistin~ or here~fter ~n~de, sh~ll be in w~t~tin{ ~nd sh~ll be • p~tt of ~hu mortp~e •~reemtnt ~
_ tulty •s thou~h •et !a?h vere~um here~n ~ed ih~ll ~•~ern botA p~rhes herew •nd tAe~r successws •nd ~ss~~ns. No hen upon ~ny of ~
_ s~ld poficic~ of msurance or upan •ny refund o?retum prem~wn rlnch ee~r be p~y~ple on tDe c~ncell~uon w ~ermm~t~on thereof, sh~11
- be ~iven to ~ther ~han tAe ?/ort~~~ee, eRCept Dy proper endorsement ~(fiied to such pol~cy ~nd ~pproved by Mat{~{ee. Each policy nf
' ~n~urance •h~tl h~ve ~t(„ed ~hercto • 5t~nd~rd Her York AAort{~{ee Cl~use v~thout Conuibuuon, nuk~n~ all loss a losscs under ~uch ;
= pol~cy p~y~~le to the Morlp~ee as ~is ~meres~ msy •pOs~r, la ihe ewei •ny swn or suess of enoney beeome p~yable ~hereunder ihe Nori-
{a~ee sha;! A~ve ~he opuon to rtce~vr and ~pply tht •~wt on ~eeount o/ the ~Mestedness hereby secured, or to peraNt lAe ~{ata~Enr
~o ?tce~vt •nd ust ~e. or ~ny p~rt ~hereof, r~thoul en«~er r~ivin~ a ~mp~u~n~ any equiry, litn. o~ n~ht under and by virtue o! thn
- mai~~~e_ In event of lo~i a phYs~c~l d~m~{t to the mort~s{eE property the Mort~~~or sh~ll ~~ve ~mmed~~te no~~ce ~hcrcof by Ta~I
lAe Mw1~~~ee rnd ~hc Mort~~~ee m~y m~ke proof o( loss i( tAe same ~a not made promptly by the Nort~a`or. In cren~ n! (ure~In.urc nl
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