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HomeMy WebLinkAbout0344 PROVIDEn, ALWAYS, that if the hlort~a~or shali pay unto the Morigagee the indcbtedness evidencad by a certain promissory note of which the foltowina in wocds and [i=ures is a true copy to-wit: ~a~~t~ I~ot~ ' i__ 2.775.00 , Miami.Flosida Januery 15, 19 72 ~ FOR VA1.l.TE RECEIVED_ We, iointly and severally promix to pay t ~he order of STELLA WET SBORD ehe principat sum ofTwo Thousand Seven Hun re Sevent~- ve an t~~thrr w~th interr~f thereon Irom date at the ~ate of ten percent, per annum until maturity, both principal and iaterest being payable in lawful mone~• of the United States at 2244 Biscayne Blvd., 1liami, Florida, or at such other place sa the holdcrs hereo[ rruy designate';,in writi~g. Principil and intereat payable in installmenta as follows: . Sixty-five ($65.00) Ddlars per month, beginning on the 15th day of March, 1972, and continuing on the 15th day of each and every month thereafter until paid in full ' This note may be prepaid in whole or in part a(tet one year from the date hereof upoa payment of a pcna[ty equivalent to fi percent o[ the principal sum prepaid. h instaliment payment shati be c~edited Crst on the interest due, and the eemainder on principal; and interc$t shaU there- upon aae upon the principal so ctedited. T make~s and endorse~ of Ihis note [urther agree to waive demand, notice o[ non-pavment and protest, and in thr event suit shall be brought fo~ the collection hereof, o~ the same has to be eollected upon demand of an attorney, to pay reasonable attorney': fees for making such collection. - Deferred payments hercunder shall bear interest at the nte oI ten percent pet annum from maturity until paid. This note ia secured by a mortgage ~ of eveo date hcrewith and is 1o be coostrued and cnforced accocdi~g to the laws of the State of Florida; upon default in the pa~ment of principal andlor interest when due, the vrhole ~m of pnncipal and intere~t remaining unpaid shatl, at the option of the holders, become imme ' tejl due_md payable. ~ ~ ~ S U c-T l~~ ~ seAL ~ / . ~f'`r,c i ~ ) '`v (SE4L) Prepared bq Spiekr & Tendrich. Atto:neys - 224p Biacayne Blvd.. ~fiami, lorida ar?d shali ~er[arm, cemply with and abide by each aad every the stipulations. agreements, conditions and cove- ! nants of said promissory note and of this deed, the~ this deed and the estate thereby created shall cease and be null and void. ~ 1. The Moctgagor hereby covenants and agtees: h) To pay all and smsulat the principa) and intercst and other sums of money psyabte by virtue of sa~d promtssory note and th~s deed, or either, prumptly on the days respectively tAe same severally becomes due. (b) To permit, canm~t or su(fer no Waste s!id ro mamta?n the ~mprovements at all umes in a state o[ soal repair and condition, and to do or perm~t to be done to said prem~sea aolh~ns that v~ll alter or ch~nse Wo we and eh~rsete~ of a~id property or in any vay impair or w~eaken tht secur~~y of this mortsase. And in case ot the retusal, neslect ot inability o[ the Mort~a~ot to tepait and maintain said proper- ty, tAe Mort~asee may, at his opt~un, make auch repairs or cause the same to be made, and advance roooeys in that beh~lf. (c) To pay all snd sin~ulu the taaes, assessments, levles, liabilitiea, aed obliptions of every oature on said described property each and every rhen due and payable accordin~ to law, betae they becane delinque.,t, ~nd to deliver to ihe Mort~a/,ee on or before March lSth ot e~ch year tax receipts eridencin~ the payroent of all lawtully ~mposed t~aes for the prectdins ealeedar year; to indemnify the Moct~~~ee upon his'deaund fo~ all taxes, ~ssessments aad char~es that msy be assessed upon this mort~a~e on the irdebtedness s•- cured Aereby, and pacd by the mortea;ee, rithoul regard to any lavr heretofore enscted or hetesfter co be eaacted imposin~ payment of the ~rhole or any ~srt thereo( upon th~ Mort~a~ee. (d) To pay •11 and ~~nsul:r the costs, char`es and e:penses, includins larryers' fees and abstract cosu reasonably iacuned rx paid at any time by the Mortaasee because of the [ailure on the part of the Mortsa~or to per/orm. comply xith and sbide by each and erery the st~pulst~ons, asreements, conditions and covenants ot sa~d promissorp note and this deed, a either, and every such~payenent shall bear ~ ~nterest tran due at the rate of ten UO°6) pcr ce~tum per annum. • i (el li ia futther covenanted and aveed by said part~es that in the event ot a suit bein~ iestituted to forectose th~a mort~~se, the Alort. ~~~ee sAall be entitted to •pply at arty time pendins sucb (oreclosure suit to the court havios jutisdictian thereof tor tde appo~ntment : of a receiver of ~II and sin~ular the mortra~ed property, and of all rents, iacaeus, ptofits, issues and revenuea theteof, trom vhatsxver j saurce detived; and thereupon it is hereby exptes3ly covenanted and a~reed that tAe Court sh~if tortA~ith ~ppoint such receirer sith the usual po~rers and duties of receivers in like caaes; and s~~d appoietment shall be made by t6e court ~s s matter of sttict ri~At to the ~lort~a~et, and without reterence to tdo adequacy or insdequacy ot the value of the property hereby mortp~,ed, or to the solvency or insolvency of the Matsa~ors or any othc~ p~rty dcfendant to such suit. The Morts~~or hereDy specefiul)y w•aires the naht to ob~ec~ to the appointment of a receiver as ~foresaid and hereby eapressly consents t6~t such appointment ahall be made as an adm~tted equity •nd as a matter of absoiute ri{ht to the Mortta~ee and that the same may be done w~thout notice to tht Mort~a~or. It forectosure proceWia~s should be instituted a~ainst the property corered by th~s mortp~e upon any other lien w cta~m rrhether alle~ed to ~e superior ar Jmior to the lien of this mortss~e, the Mort~:see msy at bis option immedutely upon ~~stitut~on o[ sucA su?t or durin~ the pendency thereot declarc tMs mor~~a~e and the indebtedness secured hereby due and payable forthw~th and may at ~ts optioa proceed to tatclose W~s mat~a~e. Th~t the Mortp~or w~ill keep aU real and person~l property nor or hereafter encumbered by the hen of :his mwt`a~e ~nsured as may be required from ~eme to time by the Mortsajee aaainst loss by tire, w~mistam and other hazacds, casualues and cont~n~enc~es (or such penods and ior not leas thaa such amounts as may ~e required by the Mottsa~ee and to p~y praaptly ~hen due all prcm~ums f« such msurance. The amounts ot ~nsurance required by the lNort~a`ee shall be the min?mum amounts for which sa~d msurance shall be rnttrn and it shall be incumbent vpon the A{ortassor to maintain such add~honal insuraoce as may be necessary to meet and complY (a11Y w~th all co-insurance tequ~reme~ts contaioed in ssid policies to the ead thst tRe said Mortaa~a is not a co-~rtsuror thereunder.lnsurance shall be wntten by a comp~ny or companies appcored or des~`nated by the Mort~asee and a1) pol~cies and renewils thereo( shall be Ae1J by the Mat~a~ee. All deta~led desi~nauons by the Mort~~sor vrh~ch are accepted by the 1?{ort~a~ee and all asreements between Mort~aEor and Mort~a~ee relatma to insurance, now existin~ or 6ereafter made, sh~11 be in wrrit~n~ and sA~ll be a part of this ma~~a~e a~reemen[ as futly as thou=h set forth verbat~m Aerem and sha!! aover~ both parties hereto ind their successors and ass~~ns. No I~en upon any of said policies of msurance or upon any retuod or rceura prem~um rhich rnay be payable on the cancellauon or termin~tion thereof, sha11 be ~iven to other than the Mort~a~ee, eacept by prvper endorsement s(fixed to such pol?cy a~d approred by Mortp{et. Fach pol~cy of - msur~nce shall hare a(lixed thereto a Sundud Ner York !Nortsasee Clause ~r~thout Contri~uuon, makin~ atl loss or losscs under such policy payable to tAe Mortq~ee as ~ts ~~lerest may appeu. In the eveat ~ny sum o~ sunu ot money becoa?e payable thereunder the ~tort- ~a~ee shall have the eption to rece~ve and apply the sime an account of the indebtedness hereby securcd, or to perm~t the ~}ort~a~or to receive and use u, ot •ny part thereo(, without thereby wsivin~ a~mpau~n~ any equity, Gen, or n~ht ~nder ~t1d by v~ttue o! thi. mort~s~e. In event of loas or physical damaje to the mo~t~s`ed property the Mort~a~or sh~ll ~~ve ~mmed~~tt not~ce Uereof by ma~f the Morl~a~ee and ihe Mortea~ec may make proof o( loss d tAe same ~s no! made prompUy by the ~fatsagor, In erent of fore~ln~ure of ' ' ~ooK199 r~cE 3~3 " .