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Home My WebLink About1508 ~ ~ - PROVIDEn, AL.WAYS, that if the hbct`a~ot shall pay unto the Mott;a~ee ihe indebtcdoess evidenced by a certai~ p~omissory note o[ which the followio~ in wo~ds and fi~ures is a true copy to-wit: ~ ~dyCi~~G ~ 53,82`Z.00 Afiami.Flo~ida AnriL 8 197~-- F(~R VALL'E RECEIVF.p We, ~oi~ntly and severally, p~omi~ ~o pa~~ to ~he ordrr of _ ABBEY SACHS p' p~ ~nd F' g_~N~~nd d'It,aen t~i-_ f ~ vp anHU . 1~, th~ nnci i) .um of ~ree Thn iS ~ h rp~_~ togr~tl~rr with inlrre.l ~ the~eoo Iwm date at the rate o( ten percent, pe~ annum until maturity, both principal and interest being payable in iawful mone~ uf the ~nited ~tates at '?.2-L-1 Bi~cayne Blvd., \liami, Plorida, o~ at such other place as tt~e holder~ hereof may de:ig~ate in wntin~. Principal and i~terect payable in i~stallments as foltows: - Seventy-five ($75.00) Dollars per month, beginning on the ZSth day of June, 1972, and.continuing on the 15th dag of each and ever~ month ' thereafter ~ntil paid in fu11. This ~ote may be prepaid in whole or in part after one year from the date hereof upon payment o[ a penalty equivalent to five percent of the principal sum prepaid. Each installment payment ~hall be c~edited first on the interest due, and the remainder on principal; and inte~t shatl tl~rrr- upon ctase upun th~ pnneipal +o credited. The maker~ ~nd ~ndorstrs of this note further agree to waive demand, notice of non•pay ment and protest, and in the evcnt suit ~I~al) Le brou~ht for the collection hereol, or the same has to be coltected upo~ demand o[ an attorney, to pay reasonaLle attorncy'x frr. for making such collection. - Defertcd paymen~~ hercunder shall bear inteoest at the rate of ten percent per an~um fmm maturity unti) paid. 7'his not~ is ~ecured by a mortgage~of cven date herewith and is to be construed and enfotced aecording to the laws of the ~ State of Florida; upon default in the payment of principal andlor interest when due, the whole sum of principal and interest remaining unpaid shall, at the option of the holders, become immediately ue and payable. ` / - : ~1 (SEAL) ~ ~ - ~ - ~EAL) Repar~d by ~pieler de Trndrich. Attorneps - 2240 Biecayne Blyd., Miami, Fiorida ar~d shall perform, comply with a~d abide by each and every the stipulations, agteements, conditions and cove- nants of said promissory note and of this deed, then this deed and the estate thereby created shall cease and be null and void. 1. The Mortgagor hereby covenants and agrees: (a) To pay all and sinsulu tAe priecipal and interest and other swm of moaey payable by virtue ot said promissory eoie artd this deed, or eitl~er, promptly on the days respectively the same seveially becomes due. (b) To permit, caomit or sutter no vsate a!~d to maintain the improvements at all times in a state of aood repair and condition, and to 1 d0 q! ~lfiAlt IO bG dOfl! !O Sald ~ClelStS pOt}Ullj tllat MIII illCf Ot CAaq~t the we aad cAuacter ot said property o~ in any vay impair or reaten ~fie security ot this oo~tp~e. And ia case o[ the refusal, ae~lect or iaability ot the Mort~a~or to repsir and maintain said proper- f ty, the Yortp~ee may, at his optioe, make sucA repaira or cause tht same to be made, aud adrance moneya in that behslt. ~ (c) To pay alI aad sin~ulu the taxes, assessments, leriea, liabilitiea, and obliptions of erery aature on said desctibed property each j and every ~rAen due aad psyable accadins to lav, betore they becoae deliaquent. and to deliver to the Maeaasee on or betore March ~ ISth of e~c6 year qx teceipts evideaciqs 1he payment of all 1~~[ully impnsed. taxes for.the precedins catead~r ye~r• eo indemnify [he f Mart~a~ee upon his demand tor all taxes, assessmtnts and char=es ~hat msy be ~ssessed upon this mort~~se on the•iadebtedness s•- cured hereby. aod paid by the aortsa~ee~ vithout reeard to ~ey I~w heretofoce e~~cted or hereafter to be enacted imposins payment of tAe wholc or aay ~art thueof upon the Morts~~ee. (d) To pay all aad siryulu the costs, chsr~es and expenaes. inciudin~ Iswyers' fees and aAsuaet costs reasonably incurred or paid at any time by the Martas~ee because o( the f~ilure oa tAe part ot tAe Mortsasot to putore~~ comply arith and abide by each and every ihe stipulat~ons. a~reements, coaditions and covenaets of said promissory note aad t6is deed. or eitber, aad evety such~payment shall bear intcrcst Gom date at the nte of ten UO'b) per centum per annum, i (e) It is furtbcr coveasated aod a=reed by s~id parties that in tde event oi a suit beiry itutituted to loreclose this mortaaso, the Mort- ta~ee sh~ll be eotitled to ~pply at any time peadia~ such tareclosure suit to We court hariru jutisdiction thereof tor We appointment ot a reeeirer ot all and ain~ular the isort~a~ed ptoperty, aad ot all reeta, inco~es. profits. issues and revenues thereof, fran ~hatsoerer source derered; and thereupon it is hereby e:presaly corenu?ted aad ~jreed th~t the Court sh~11 totth~rit6 appoint such receiver W~4h ihe wual porers and duties ot receivers in. like cases; ~od s~id appointmeet shall be made by t6e court as a matter of strict ri~ht to the Moet~s~ee, and ~ithout reference to the adequacy or inadequacr ot the ralue ot t6e property hereby mott~a`ed, or to the solvency or insolvency of the Mortsajors or any othet party defendant to such suit. 7'he Matp~or hereby spetifically waives the riaht to object to the appointarcnt ot a receiver ~s atoresaid and hereby exp~essly eonsents t~at such appoinunent shall be aude as sn admitted equity •nd as a matter of absoluce ri~ht to the Mortpsee and that tbe same may be done without aotice to the Matsaaw, (f) tf foteclosure proceediap shoutd be instituted a~ainst the ptoperty covered by this mottpse upon any other lien or clsim whether alle~ed to be superior ot junior to the lien of ihia mottq~e, the t~/ort~a~ee may at his optian ienmediately upon in~titution of such suit or durios the pendeaey t6ereot declare this rtwrtp~e and the iadebtedness aec~red hereby due and payabte forih.vith and may at ~ts option proceed to foreclose this mort~a~e. 7'lrat the lfatsaior ri)! teep all resl ~nd personal property now or heresfter eacwabered by the lien of tAis morteaae insured as may be tequired Bom time to tiee by the Mort~atee a{sinst lws by tire, vindstotm and otAer datards, casualties and conunsencies for such periods and for not less thaa auch amounts as may be requited by the Mort~a~ee and to pay promptly when due all prem~ums tor such ~nsur~nce. The aaounts of iasurance required br tht Mort~~see sball be the minim~aa amounts (or rhich said insurance shall bc ~rntten and it shall be incua~bent upon tAe Mortsa~or to maintain such additional insurance as may be necessary to meet and comply tully ¦~th •it co-insuranee requirements conhined in said policies to the tad that the ssid Mortia~a is not a co-iosurw thereurider,lnsurance shall be vrittea by ~ cosp~ny or compaaies ~pproved or desi~nated by the Mort~a~ee ~nd ~11 polities and rene.als thereof shall be held by the Mat~a{ee. All detailed desi~oatiaes by the Mort~asor wrhich ate accepted by the I~lott~a~ee and all sueements between Mort~a6or sed Mort~aset relatin~ to ieswanct, nor existins or hertattet made, sbal) be in rvritins apd~~ll be a pafro( th~s mort6a6e a~reement ss fully ss thwah set (ath vetbatim hetein and sAall ~overn both parties hereto and theit soeeessors aad assi~ns. No lien upon any of a~id policies of ~nsurance ot upon anr relund or retum premium ~rhieh may be p~yable on the caneeliation or termination thereof, vhatl be firen to otAer thsn the Alortsssec, escept by proper endorsement affiaed to such policy and spproved by Mortsa`ee. Each pol~cy n( insutance sh~ll have affiaed thereio a St~ndud Ne~r York Mort~i~ee Clsuse ~rithout Conuibution, makina all losc a lossc~ under tiuch policY p~rible to the Mortp~ee as its inlerest may ~ppe~r, [n Me eveat soy sum or suas o( rooney Decome payable ihereunder ihe -~for~- s~~ee shall hare the option to receire and apD~Y U?t s~ee oe accounl ot t6e ind;btedness hereby secured, ot to petm~t the ~1ort~a~nr to receive and ust it, at any p~rt thereof, without thereby waivin~ a impa~rin~ any equity, lien, or ri~ht unJer and by vutue o( th~. enortq~e. In erent o! loss or physical dama~e to the mortpjfd per~ ~Mwtaasa shsll aive immed~stt notice tAere~t by rra~l t~~ the Mort~~~te anJ the Mort~a~ee may make proof o( loss ~f t~ it o~lrade promptly by th~ ~lortaa~r. (n cvcni ~~f ture~lr~•ure r~l 4 4 • V!~ ~ - . _ t ~ ~ `_F~ ;f , _ y . _ ~r ~,.,~,r~~_'`~: < _ ~ . ~..is.z ,.y..,. _