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HomeMy WebLinkAbout1342 PROVIDF.D, ALN'AYS, thal if the Mortgagor shall pay unto the ~tortgagee the indebtedness evidenced by a certain promissorv note of which the followinQ in words and fiRures is a true copy to-wii: ~/L4HN~C ~~C s__2 , 850 .00 For~ Pierce, Florida Oc i-ober 25 , ~~_73 tU~~Y~I~~~I~~F~,~~~~.~~~,~~~'~everallv, promice tu pay • to the o?d~r nf th~ pnoc~pai sum of ~O THQUSAND EIGHT HUNARED FIFTY and no/ 1~LLARS, togethet with interrst th~reun trom date al the r~te ot ten pereent, per annum unti) matu~ty, both principal ~nd intcrest bein~ payable in lawful money u( th~ lJn~ted >tatea al 22~ Biscayne Blvd., ~1~ami, Florida, o~ at wch othet piace as the hotdets hereof m~y designate in wntina. P~nc~pal and ~nterest payable in in~Wtments aa ~ollows: , SEVENTY ($70.00) DOLLARS per month beginning on the lSth day of January, 1974, and continuing on the 15th day of each and every month thereafter until paid in full. 'Y'his note may be prepa~d in whol~ or part a[ter one year from the dato hereo( upon payment of a penalty equ~valcnt to f~ve petcent of the pnncspal sum prepaid. Each in~tallment payment ehall be oredited (itat on the interest due, and the remainder on ptincipal; and intrK~t ~hali thrrc- upon ~~a.~ upun the pr~ncipal so ~r~diled. Th~ maken and ~ndoreers of thia note turthe~ agree to w~ive demand, notic~ of non•p~yment and protest, and in lhr ~vent suit - .iuii b~ bruught ior the coiiec[iun htreui, or thc sa~;c 1-.sa ta be co!!ecled upon demen~! c?f .n ittorney, to pay reasonable attorn~y'F 1 frr. for msking auch collection De(rrred pay menta hcreunde~ shall bear int~trst at the rate of ten perc~nt pe~ annum Irom maturity until paid. ~ 1 his note is acurcd by a mortgaige of even d~te he~ewith and ie to be construed and enforced according to the laws of the ~ ~tat~ of f7orida; upon default in the payment af principd aedlo~ inter~Ft when due, the whole eum of pri~cipal ~nd inteeeat lrma~ning unpaid aha11, at the option of the holders, become immediately due and payable. ~ ~ ' n ~ hf ~~G ~ ~ ~ ' ' (S~:AL) i ~ - ; ' ~ ' ' (SEAL) r an s per orm, comp y w~ an a i e y eac and every the stipulations, agreements, conditions and covenants of said promissory note and of this deed, then this deed and the estate thereby cteated shall cease and be null and void. 1. The Mortgagor hereby covenants and agrees: Isi To pey ell and singular the prinnpsl and interest and other sum~ ot mor.ec payaWe by ~irtue of said promissory note and thi~ deed, or either, +~.+».v.d v ou the dsvs resnectivel~~ the same severally becomes due. 161 To pernut, comnut or suffer no waste and to maintain the impro~-ements at a!1 times ia a state of good repair and candi[ion, and to do or permit to be ' done to said premises notAing that will eher or change the use and chuacter of said property or in any way impair or w~eaken the security of this mortgage. And in c~ce of the refusal, neglect or inabi6ty of the :~iort~agor to repair and maintain said property, the ~iortgagee may, at his option, make such repairs or cause the same to be made, a~ ada•anoe monevs in that behalt. Ic1 To pa~• al1 and singular the ta:es, ascessments, levies, liabi6ties. ~nd ob~gations of e~ en• neture on said Gescritxd property each and ecery when due i and peyable according to law, before they besome delinquent. and to deli~~er to che \tortgagee on or before ~tarch ISth of each year ta~c receipts e~idencing the peyment ot all lawfulh impoxd tazes for the preceding calendar yeer; to idecnnify the :Uortgagee upon his deme~ (or all ta:es, assess- ` ments end charges that may be assesxd upon chis mortgage on ehe irdebtedness aecured hereby, snd paid by the mwgagee, vcithout regard to any law herYtofore enacted or haeafter to be enacted imposing payment of the w hoie or any part thereof upon the Mortgagee_ i ~ +d1 To pay all and singular the cost~, charges and expenses, incfuding few}~ers' fees ar.d absttact oost~ reasonably incurred or peid et any time by the \fortgagee becnuse of the failure on the part ot tM Nort~gor to perform, mmpl}• acith and a5ide by each and e~~ry the atipuletions, agreements, € conditions and co~rnante of ssid promissory rmte and this dced. or either, and even• such pavment shsll benr interest from date at the rste of ten 110°'~ 1 i per centum per annum. ~ 4 ~el It is further co~~enanted and agreed by said parties that in I.he e~ent of a suit being iastituted to forec{ose this mortgage, the :Nortgagee shaU be ` entitled W apply at am time pending such (oreclosure suit to the oourt ha~•ing jurisdiction thereof for the appojntment of a receiwer of all and singular t6e r ` mortgaged property, and of aq renta, ineomes, pr~ts, issues and re.~enues thereof. from whatsoever source deri~red: and thereupon it is haeby espressly ; co~~enanted and agreed that the Gourt shall fwthw~ith appoint such receiver with the usual pow ers and duties of receivers in like cases: and aaid appoint- : ment shell be cnsde by the court as e matter of sttict right to the ~fartgag~, and aithout referene to the a perty hereby mortgsged, or to the soh•eney or in~olvency of tAe \t ~Y ~°~11°~y of the vdue ot the pro- ongagora or any other party defendant to such suit. 'l~e Mortgegor hereby apecif- ically waives the right to objett to tl~e appointment o( a receiver as a[oresaid and hereby ezPces9~Y oonsent,~ thac such appointment sha0 be made ss an adreutted equity end as a matter of absotute right to the ~tortgageeand that the same msy be done without notice to the 1lortgagor. ~f~ If foreclosure p~oceedings should be insutu!ed against the property covered by thic morigage upon any other iien or t4im wrhet6er s0eged to be superior or junior to the I~en of this moKgage, the ~fortgagee may at his vption imrnedietely upon institution of such suit or during tAe pendency thereof declere this mortgage and the indebtedneas secured hemby due end paya6ie torthwith and msy at its option proceed to torecbse this mortgage. - 1 gl That the ~lortgagor will keep all reaJ and peraonal property no~r or h~eafter encumbernd by the lien of this mortgage inwred as msy be required froco ~ time to time by the Mortgagee against bss by fire, ~vindstorm ~nd other }wzards. casualtiee u~d contingencies fa such periods and tor not less than ~ such amounts as msy be required by the Stortgagee and to pey promptty when due all premiurns for such insurence. The emarats of irt~uraoce roquind ! b~ the 1lorgagee shall be the minimum amounts tor which said insurence shaU be written end it sMll be ii?cumbent upon t6e ~lortgagor to maintain auth additiom! insurarce as tnay be neoessery to mcet and comply fully with all co-insurance requirements contained in ssid poGcies to the end that the a~id ~ton a ~ ge8or is not a cainsuror thereunder. Insurance shall be w-ritten bq a compeny or oompaniee approved or designated by the Mortgagee and ~11 pdi- cies and renewals thereof shal! be held br• the Atortgagee. Alf detailed designations by the Mortgagor which ere acoepted by the Mortgegee and all ~gree m~ts becvreen 1lortgagor and ?ltortgagee relating W insurance. no~ e:isting or hereafter mede, shsll be in writing and ahall be a part of this mortg~ge egreement as f.illy as thrn:gh set torth ~~erbatim herein and ehel! go~-em both pnrt;es hereco and thar aucce~~ora and u~igos. No li~ upoe ~ny of said poiicies of insurance or upon any refund or rcturn premium whicA may be peyable on the cancellation ot termination thereof, shall be given W other tF~n the \tettgagee, e:cept by proper endorsemeet affixed to such poGcy and appro~~ed by ~tortgegee. Each policy ot insurance ehall have affued theroW • Standard tiew Ynrk ~tortgagee Clauae without Contribeition, meking all loss or losses under such poGty peyable w the Mo[tgagee as its i~aest may ~p~ pear. I n the e~~ent sny sum or +ums of money become pa~ able thereunder the'.ltortgagee shall heve tAe option to receive and apply the xme on ~coount oi the indebtednesr hereby secured. or to permit the ~tortgagor to receive and use it, ot any pett thereof. without thereby waiving or impairing any equi- ti, lien. or right under and br ~inue of t hi9 rnortgage. 1 n erent of loss or pAyeical daroage to the mortgaged property th~ IyJortg~gur ehaU ~ve immsdiate ~ i ~00~220 P~~E1339 . : . a ~ _ - : . - _ s.