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HomeMy WebLinkAbout0894 , . PROVIDEn, ALWAYS, that if the Nortgagor shall pay unto the \tortgagee the indebtedn~ss evidenced by a certain p~omissory note of which the follov?ing in wotds and fitutes is a true copy to-vvit: ' ; i ~4Z~~C I~4rG 3_~,Z75 .00 ~1~am~, E~or~d~ Februar~24, 72_ FO1~ YALI~F. NF:CEl1'FD___ We z~Ointly _and several pro~~~e,e i~ Na. ' to the urdr~ o( SAM_ HOROWITZ AI~tD-~NNETTE HOROWITZ: HIS ~WIFE ~Oa-`~!~ - . the princ•ipal .~~m o( __Three Thousand Seven Hundred Seventy- £ive--~~, ' ) l.: lu~rther w~tl~ inl~•r~•~t thereun iro~n d•rtr at the nte o[ tr~~ pcrcent, per ~nnu~n until maturity, buth princip:il and interest !K•ing pa~~aLlr in 1aw [ul muu~ ~~~f the United ~tatr~ at Bi+cayne Bl~d., \liami, Flo~ida, or at such other place as tl~e holders hereu[ may d~iguate in writi~~g. Principal and intcrest payable in in~tallmen4~ as iullows: . Seventy ($70.00) Dollars per month, for sixty (60) consecutive months, ~ on the lSth day of each and every month, beginning on the lSth day of April, 1972, and continuing until the 15th day of April, 1977, at which time the balance shall become due and payable. This note may be prepaid in whol~ or in part a[ter one year from 1he date hereof upon payment of a penalty equivalent to five percent of the principal sum prepaid. Each in:tallmenl pay~nent si~all be creditrd fint on the interest due, and 1he remainder on princiE~al; and interest shall tln•n•- upon ceasr upun the principal ~ crcdited. The maken and rndoncr~ o[ thi~ note further a~,~ne to waive demand, notice of non- ayment and p~otest, and in the event ~uit e ~hall be brought [ur the cullection hereof, ur the ame ha~ to be collected upon ~emand o an attorney, to pay reasonable attorne~•'. fres for making such collection. ~ Ueferred pa~•mcnt• he~eundrr •hall bear intere~t at thc rate of ten pe~cent per annum irom maturity until paid. ~ 7'his note ic secured by a mortga~e of even datr herewith and is to be construed and enforced according to the laws of 1ht ~ ~tate of Florida; upon defauli in the pa~•me~t of principal and~or interest when due, the whole ~m of principal and iuteryst I remaining unpaid shall, at the option of the hulders, become immed' tely due and payable. ^ ! • ~i ~,~f - t • ' (sEAL) , ~ , - I • ~ r . ` ~ ; / ' (SEA! ' Prepared by ~pieler & Tendrich. Attorneys - 22~10 Biscayne Blyd., llliami, F ar~d shall perform, comply with and abide by each and evety the stipulations, agreements, conditions and cove- nants of said promissory note and of this deed, then this deed and the estate theraby created shall cease and be ~ull and void. I 1. The Mortgagor hereby covenants and agrees: i F (a) To p~y all artd s~nsular the prmcipal and interest and other sums of money payable by virtue o( said psomissory note and this deed, a either, promptly m the days re3pectively the same severally becomes due. j (b) To permit, eaanit or sutfet no vraste and to main[ain the improvements at all times in a st~te ot ~ood repair and condition, and to € do or permit to be done to said premises notliin~ that w~ll altet w chsn{e tl~e use and ch~ractet of said ptoperty or in any vay impair a ~ weaken [he secunty ot this mort~a~e. ~nd in case ot the retusal, neslect or inability ot the Mort~asor to repair and maintain said proper- ty, the Mortp~ee may, at his option, m~ke sucA repairs or cause the same to be made, u?d advance moaeys in that behalf. ~ (c) To pay atl and sinsulu the taxes, ~ssessments, levies, liabilities, and obliptions o! every nature on sa~d described property eacA and every ~hen due aad payable sccordins to lar, betore they become delinquent, u?d to deliver to the Mortja~ee on or before March s ISth of ea~h year ux receipts evidencin~ the payment of all IarfullY ~mposed ta:es tor thc precedias ulend~r year, to indemnify the = A1ort~a~ee upon his demand for a11 ta:es, aasessments and cAarses that may be assessed upon this mort~ase on the indebtedness s~- ~ cured hereby, and paid by the mataasee, w~thout re~ard to aay la~ 6eretofore enacted a hereafter to be enacted imposins ~ayeoent o: ~ the rhole or any .qrt thereof upoo the Mortjasee. (d) To pay all a~d ainsular the costs, ehar~es and expenses, includm~ I~wyera' feea ~nd apstr~tt costs re~sonably incuned or paid at t any tlme by the Mortsa~ee becruse of the t~ilure on the part of the Mort`~sor to pertorm. comply with and abide by each and every the ~ stepulai~ons, a{teements, cond~tions and covenants of said promissory notc and this deed, or eith4r, and every such~payment shall beu ~ ~nterest [ran date at the rate of ten (10'~) per centwn per annum. ~ (e) It is furthec covenanted aod a{reed by said parties that in t6e evmt o[ a suit beins instituted to foreclose this mataa~e, the Mat- ~ ~a~ee shall be entitled to apply •t any time pendins euc6 forecloeure suit to the court havin~ jurisdiction thereof for the appointmen~ 3 of a receiver o[ all and sinSular the mort~a~ed property, and of all reata. iacoaes. profits. issuea ~nd rerenues thereof. from whatsoever ;s source derived: aad thereupou it is hereby exprusly coveoanted aad a=resd tAat the CoYtt sAall tathvith ~ppoint such tece~vet w~th 3 t~e usual powers and duties of receivers in like c~ses; and said appointnxnt shall be made by the court as s matter of strict ri~ht to the Mort~a~ee, and Without reference to the adequacy or inadequ~cy of the v~lue of the ptoperty hereby mort~a~ed, orto the solvency or insol~enty of che Mortia~ors or any other party defendaot to such suit. The Mort~~~ot hereby specifically waives the n6ht to object to the appointmsnt ot a receiver as atortaaid and Aereby e:presaly conseats tAat such appointeoeM shall be made ¦s an admitted equ~ty and as a matter of absolute ri~ht to the Mortpiee and thst the same may be done without notice to the Mort~asor. ~ (t) If foreclosurt proeeedin~s s6ould be instiwted a{ainst the property covered by this mortp~e upon any other lien or claim whether ~Ile~ed to be superior ar junior to the lien o( this mort~a~e, the Alort~a~ee eoay at his option imcoediately upon msti~uuan ot cuch su~t a durin~ ehe pendency thereof declarc this mor~p~e and the indebtedeese secured hereby due snd p~y~ble (otthw~th and may ~~s - optioe proceed to foreclose th~s morts~~e. Th~t the Morts~~or will keep all real ~nd personal property now~ or hereafter encumbered by the l~en of this mort`ase msured as may - be required [ran time to tiiee by the Mats~~ee a~~inst loss by fire, windstam and other hazards, casualties and cont~nEencies for such per~ods and ior not less thaa auch amounts as may be required by the Mort~a~ee and to D~Y D?~D~~Y whea due all prem~ums fa such = msunnce. The amounts ef insurance required by the Mertsasee shall be the minimum amounts tor whlch said msurance sha11 be wntten - and it shall be incumbent upon the Mort~asor to maintain such additional in•urance as aµy be necessary to meet and compTy fully w~~h all cainauranee requirements contained in xaid polieies to the ead that the s~id Mort`aja is not a co-~nsuror thereunder.Insurance shall be ~vntten by a company or compaaies apptored or desi;nated by the More~a~ee and ~11 pol~c~es and rcnewals thereof shall be he1J by the Mortp~ee. All detailed desi~nations by the Mortsa~or which are accepted by the Mort~a~ee and all asreemrnts betreen ~lortaa~or and Mort~aate rel~tin~ to insurance, now existin~ or hereafter made, sh~ll be in Writin~ and shall be a part ot th~s mort6a~e a~reement ~s (ully as thou~h set forth verb~hm herein snd shall aovern both parties hereto and their successors snd assisn~. No I~eA upon aey rrf said policies o( ~nsurance or upan any refund or return premium whicA reay be payablt on tAe cancellat~on or term~nation thereot, .hall be ~iven to other than the Mortsa~ee, except by proper endorsemtnt ~ftiaed to such pol~cy and ~pproved by Mortdajee. Fach pol~cy ~f in~ur~nce shall havt af(ixed thereto s S[andud New~ York Mort~a{ee Clause Mithout Con[r?buuon, makins all loss or losse~ under .uch policy pay~ble to the Nort~a~ee as ~ts ~ntercst msy appear. In We event ~ny sum or sums ot money became psyable thereunder ~he ~fnri- _ ja~ee shall have the optioe to rcce~ve and apply the s~me on sccount of tAe indebtedness hereby spcured,,or to perm~~ the \Iott~aKn! - to rece~ve and use it, or any part thereof, rithout thereby vcaivm~ a impairin~ any equUy, tiea, ar risht under and Ay v~rwe o! ~A~. mortp~e. IR.erent oS loss rn pAysical dama~e to tht mort~a`ed property the Mort~a`or sh~ll ~ive ~mmed~ate nohce thereof by ^~acl t~~ the Mat~s~ee and ~Ne Alortda~ee may make prouf of loss ~f the same ~s not made prompUy by the ~lortdasor. In c~rnt nf turc~l~~~urc nf ~vVl~ ~ ~ , ~ ~ - - - - - 14 ~ _ _ .S:.ii y:~: ~ l _ C fr,~.:..crZC~;'~.~i _ _ `i. r ~ . ~ ~ n . . . .xf . ..;~'ti.+~....